The markets are trading on a weak note this Wednesday. The Sensex and Nifty 50 are down over 1% each.
Several independent counters are buzzing with sharp price action. Triggers like the ongoing stock re-rating, quarterly business update, and other factors are impacting price action.
Here are the top movers and shakers:
Jio Financial Services
The share price of Jio Financial Services plunged 4%. It was among the major losers on the Nifty. The stock has declined 1.6% in the last five trading days. The stock has given a return of over 3% in the last one month. However, it has declined 20% over the last six months.
IndiGo
The IndiGo share price plunged over 3% after crude prices jumped 2% and held strong above the key $75/bbl mark. This is on account of supply concerns arising as a result of the renewed tension between the US and Iran.
Kalyan Jewellers
Breaking ranks with the overall market, Kalyan Jewellers jumped 8.6% to the day’s high of Rs 385.70 on the NSE. This uptick in the price came after the company released its business update for the June quarter of FY27. The company has reported a 38% YoY increase in consolidated revenue for Q1, driven by strong performance in both Indian and Middle Eastern markets.
Aequs
Aequs shares advanced sharply, nearly 12% to hit an all-time high of Rs 271 on the NSE after Nuvama Institutional Equities initiated coverage on the stock with a ‘Buy’ rating and projected an upside of whopping 91%. The brokerage set the 12-month target price at Rs 444 per equity share.
Lodha Developers
Lodha Developers’ share surged 4.75% to a high of Rs 1,155 on the NSE. Also, the Nifty Realty index surged the most among the sectoral indices as well after concerns over interest rate hikes by the US Federal Reserve eased. The Nifty Realty index climbed as much as 1% during the session.
Aether Industries
Aether Industries’ share price rallied 6% to touch a fresh 52-week high of Rs 1,419. The speciality chemical stock is currently trading above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a strong bullish technical trend.