Stocks making the biggest moves mid-day: Bharat Dynamics, Sagility, Glenmark & more

It is another quiet session for the markets, with both the Nifty and Sensex trading in a tight range. However, there are some movers and shakers in the market at this hour. A look at the buzzing stocks in midday trade—

Bharti Airtel

Bharti is the top index loser on both Nifty and Sensex. The share price of Bharti Airtel is down well over 2% in an otherwise flat market. The second largest telecom operator of India, it is set to announce its Q1 results later this month. Meanwhile, all eyes are on the Q1 ARPU numbers. Reliance Jio is expected to outperform Bharti, both in terms of average revenue per user as well as addition of subscribers. However, Jio’s listing plans have hit another roadblock after RIL said it is unlikely this year.

Bharat Dynamics

Like most other defence plays, the Bharat Dynamics share price is taking a breather after the run-up seen in the past few months. The stock is down 4% after key brokerage house Motilal Oswal expects 4% downside. They initiated coverage with a Neutral rating and said that the “key risks for the company include a decline or reprioritisation of the Indian defence budget, termination of existing contracts or failure to succeed in tendering projects, changes in procurement rules and regulations of the MoD and the government, and supply-chain-related issues.”

Sagility India

Sagility India is up over 5% intra-day today. In a falling market, the stock has shown definite resilience. The shares are up 10% in the last month and 53% since listing last November. It listed last November, and the company has high exposure to US-based client groups.

Glenmark

Meanwhile, key pharma player Glenmark is up nearly 4% and is among the top gainers on Nifty Midcap 100. This gain is primarily attributed to the company’s disclosure that the Phase 1 study of the Trispecific TREAT Antibody, ISB 2011 has shown a high response rate. This is a new cancer drug being developed by the company and led to investor optimism as a result.

Kirloskar Oil

The share price of Kirloskar Oil is up over 5% and is one of the top gainers on the BSE 100 Index. A combination of factors may have resulted in the upmove seen in the stock price. Most important is the positive outlook for the capital goods sector. Motilal Oswal has Buy rating on the stock on the back of favourable valuations and sequential improvement in demand in the powergen segment.