The markets are in correction mode. Both the Nifty and the Sensex are down over half a percent each, and the market breadth is in favour of declining stocks. Some of the Index and broader market entities have seen double-digit cuts in intra-day trade. However, there are some star gainers too.
Here is a quick look to the movers and shakers this afternoon-
Bajaj Finance, Bajaj Finserv
The Bajaj twins, Bajaj Finance and Bajaj Finserv are down today. Bajaj Finance declared its Q1 earnings report. While the majority of the segment continues to deliver healthy growth, emerging stress in the MSME segment may weigh on near-term growth for the company. This is one of the reasons why the stock is under pressure and one of the biggest losers on Nifty. As near-term asset quality challenges subside, brokerages expect credit costs to gravitate to normalised levels, thereby supporting earnings.
Bajaj Finserv also declared its numbers today. The company continues to focus on growing its emerging businesses, which include Bajaj Finserv Health, Bajaj Finserv Direct, Bajaj Finserv Asset Management, and Bajaj Finserv Ventures. Losses from these businesses for Q1FY26 were to Rs 142 crore.
IEX
One of yesterday’s biggest losers is also one of today’s biggest gainers. Yes we are talking about IEX. The share price of IEX is up 11%. The stock saw a kneejerk reaction yesterday after CERC approved the implementation of market coupling of DAM. However, there has been significant buying in today’s trade as the investor’s digest the immediate implications. As per market observers, there is no immediate market share erosion in the near-term.
Rupesh Sankhe of Elara Securities highlighted that there is “higher structural shift in short-term values due to better liquidity, pricing as compared to bilateral market, and a higher share of renewable energy. More new products are being launched with higher duration.” These are seen as positive over the near-term for the stock price.
APL Apollo
The share price of APL Apollo Tubes have slumped 7% in trade today. The company reports reported mixed Q1FY26 results with EBITDA/tonne coming in at Rs 4,683 crore, significant lower than estimates. This is impacted by operating deleverage and a one-off ESOP cost (Rs 300/tonne).
The management lowered the volume guidance to 10–15% (from 15–20%) and EBITDA/tonne guidance Rs 4,600–5,000 (from Rs 5,000-plus). The FY27 volume is expected to expand 15–20%. Given the miss on EBITDA/tonne and subdued volumes, most brokerages have the EPS estimates going forward.
Cipla
The Cipla share price is one of the star gainers in a falling market, up over 3% after delivering strong Q1 numbers. Q1FY26 profit jumps 10% YoY led by product filings and development accords. The company’s revenue from operations climbed 4% to Rs 6,957 crore in Q1FY26 and Q1 EBITDA stood at Rs 1,778 crore. The share price is up 10% in the last 6 months.
Reliance Power, Reliance Infrastructure
Anil Ambani Group stocks, shares of Reliance Power and Reliance Infrastructure are locked in lower circuit for the second consecutive session. The stocks have been sliding after Enforcement Directorate conducted searches across 35 locations in Mumbai and Delhi linked to Rs 3,000 crore Bribe for loan fraud involving Anil Ambani and Yes Bank. Both these companies have however, issued statement clarifying that their operations have not been impacted as a result of these.