The markets are under pressure in the afternoon trade. The Nifty hovered near 26,019, down roughly 0.64%, while the Sensex drifted around 85,265. The cuts are deeper across the small and midcap space, with many counters like IndiGo continuing to see sharp losses.
Here are the top movers and shakers at this hour:
IndiGo
IndiGo share price continues to face severe selling pressure. It has fallen more than 12% as the airline’s operational crisis continued, dragging the stock to levels not seen in months. The market cap of the share has fallen below the Rs 2 lakh crore mark. The company, on its part, issued a statement attempting to calm the storm: “We acknowledge that IndiGo’s operations have been significantly disrupted across the network for the past two days, and we sincerely apologise to our customers for the inconvenience caused.”
Reliance Power
Reliance Power share price slipped around 5% by midday. In fact, the Anil Ambani Group stocks- Reliance Power and Reliance Infra are in focus as the Group unveiled a pivotal new phase of transformation under its flagship company, Reliance Infrastructure Integrated Solar Manufacturing, and Battery Energy Storage Systems (BESS), complemented by the rapid expansion of Reliance NU Energies, the integrated renewable energy platform of Reliance Power.
Ola Electric
Ola Electric share price slipped over 3% by midday as the stock hit yet another 52-week low earlier in the day. The company’s announcement that mass deliveries of its new 4680 Bharat Cell–powered vehicles had begun should have helped sentiment, at least in theory. “Deliveries are now in full swing, and customers are proudly riding India’s first scooters powered by our own 4680 Bharat Cell. This is a big moment, not just for Ola, but for India’s journey towards becoming a global EV hub,” the company announced in an official statement.
HFCL
HFCL share price rose around 3.5%, riding on the company’s announcement of $72.96 million (roughly Rs 656 crore) of export orders. The order, covering telecom and related gear, landed at the right moment for a stock that had drifted dangerously close to its 52-week low recently.
SpiceJet
SpiceJet share price jumped over 10% in midday trade. SpiceJet shares have come under high demand as flight cancellations at IndiGo entered day seven. Over 250 IndiGo flights were cancelled from Delhi and Bengaluru airports on Monday as the disruptions in the crisis-hit airline’s flight operations entered the seventh day, sources told news agency Press Trust of India.
Eternal (formerly Zomato)
Eternal share price edged down nearly 2% at midday after reports of a large block deal involving 5.3 crore shares, representing about 0.54% equity. The transaction, executed around Rs 290.4 according to early reports, created enough churn to send the stock swinging between gains and losses through the morning.