The domestic equity market remained under pressure by midday on July 22 as weak global cues, selling in financials, tech and aviation stocks and caution around overseas developments kept benchmark indices in negative territory. The Nifty was hovering around the 24,000 level, while the Sensex was hovering near 76,800.
Even as the broader market stayed subdued, earnings announcements and company-specific developments continued to drive individual stocks, with Bandhan Bank witnessing sharp selling after lowering its profitability outlook, while Nestle India and TVS Motor gained following strong June-quarter results.
Bandhan Bank
Bandhan Bank share price tumbled around 15% by midday after the private lender reduced its return on assets (RoA) guidance for FY27, despite reporting its June-quarter earnings. The bank lowered its fourth-quarter FY27 RoA outlook by 40 basis points to 1.2-1.4% from the earlier guidance of 1.6-1.8%, citing expectations of weaker net interest margins and higher operating expenses.
According to the bank, nearly 30 basis points of the impact will come from moderation in net interest margins, with the outlook revised to around 6.2% from the earlier expectation of 6.5% due to tighter liquidity conditions and elevated funding costs.
Nestle India
Stock price of Nestle India advanced more than 3% by midday after the FMCG major reported a strong set of June-quarter earnings, supported by healthy growth in revenue and profitability. Consolidated net profit rose 48% year-on-year to Rs 958.7 crore, while revenue from operations increased 25% to Rs 6,378.2 crore during the quarter. The earnings performance reinforced the company’s steady demand momentum across its product portfolio and extended the stock’s strong run in 2026.
TVS Motor
TVS Motor share price climbed more than 3% by midday after the two-wheeler manufacturer reported its highest-ever quarterly profit for the April-June period, supported by favourable currency movement and disciplined cost management. Standalone net profit surged 51% year-on-year to Rs 1,174 crore from Rs 776 crore in the corresponding quarter last year, marking the strongest quarterly earnings in the company’s history. The earnings performance came after market hours on Tuesday, prompting buying interest in Wednesday’s trade as investors assessed the improvement in profitability. Analysts attributed the strong quarter to better operating efficiencies, currency benefits and tighter cost controls, helping the company deliver another robust earnings performance despite a challenging operating environment.
Bajaj Auto
The share price of Bajaj Auto climbed more than 4% by midday after the company reported a healthy June-quarter performance and shared an optimistic demand outlook for the domestic automobile market. The management said it expects solid double-digit growth across both two-wheelers and three-wheelers while continuing to target leadership in the electric vehicle segment.
Pharma stocks
Pharma stocks traded under pressure by midday after US President Donald Trump proposed tariffs of up to 200% on generic drug imports into the United States following a two-year tariff-free period, triggering broad-based selling across the sector. The Nifty Pharma index declined around 1.7%, with Lupin falling nearly 2.5%, Aurobindo Pharma losing over 2%, Cipla declining more than 1%, while Sun Pharmaceutical Industries and Dr Reddy’s Laboratories slipped over 1% each.
In a post on Truth Social, Trump said, “Effective August 1st, 2026, all Generic Drugs being brought into the United States will continue to have a TARIFF of ZERO PERCENT for a two year period of time, after which the TARIFF will be raised to 100% for a one year period of time, and 200% thereafter. This is done in order to RESHORE Generic Pharmaceutical Production into America, with a penalty to those Companies that decide not to build Plant and Equipment within the stated period of time given to them.”
He further added, “The objective of this Policy is to protect the people of the United States. The Policy on Patented, Branded, or Innovative Drugs, which has been so successful, will remain as is. Pharmaceutical Facilities are being built, at a level never seen before, all over the United States of America. Thank you for your attention to this matter! President DONALD J. TRUMP.” The proposed tariff framework weighed on Indian pharmaceutical exporters, with investors assessing the potential implications for generic drug manufacturers that derive a significant portion of their revenue from the US market.
HDFC Bank
HDFC Bank Ltd. share price declined around 1% by midday, extending its losing streak to a third consecutive trading session after the country’s largest private sector lender announced its June-quarter earnings.
The stock has now fallen more than 8% over the last three sessions as investors continued to assess the bank’s near-term outlook despite a resilient quarterly performance. The lender has remained under pressure throughout 2026, with the stock declining more than 24% on a year-to-date basis, making it one of its weakest starts in recent years.
MTAR Technologies
Stock price of MTAR Technologies gained 5% by midday after snapping its recent losing streak, with investors returning to the stock following a steep correction over the past month. The rebound came after the engineering company’s shares had fallen around 35% over the last 30 days, including a sharp decline in the previous trading session.
Despite Wednesday’s recovery, the stock remains well below the levels seen earlier this month, reflecting the extent of the recent correction. The 5% rise suggested some buying interest emerged after the prolonged sell-off, helping the stock recover part of its recent losses during the session.
Paras Defence
Paras Defence share price gained around 2% by midday after its subsidiary, Paras Semiconductors, signed a memorandum of understanding with the Department of Science and Technology through MP State Electronics Development Corporation (MPSeDC) to establish a greenfield advanced IC packaging OSAT facility in Madhya Pradesh. The proposed project involves an investment of approximately Rs 6,200 crore and will be developed in the Indore-Ujjain region.
MPS
MPS share price soared around 19% by midday after the publishing and digital content company reported a strong June-quarter performance and announced plans to incorporate a wholly owned subsidiary in Singapore to strengthen its international presence. Consolidated net profit increased 43% year-on-year to Rs 50 crore, while revenue from operations rose 20.4% to Rs 224 crore during the quarter. Operating EBITDA climbed to Rs 77 crore from Rs 50 crore a year earlier, with EBITDA margin expanding to 34.38% from 27.04%. The company said it plans to invest up to Rs 1 crore in the proposed Singapore subsidiary through one or more tranches, subject to regulatory approvals and overseas investment regulations. In its investor presentation, MPS said, “Q1 landed ahead of a straight-line path, and our second half has historically outrun our first. We continue to regard Rs 300 crores as a mark we are positioned to clear comfortably.” The combination of stronger earnings, improving profitability and overseas expansion plans pushed the stock to a fresh 52-week high during the session.