The benchmark indices have slipped lower in afternoon trade on July 14 after the sharp rise in crude oil prices and renewed tension between the United States and Iran weighed on sentiment. The Nifty was hovering around the 24,075 level, while the Sensex was hovering near the 77,160 mark.
Oil-sensitive sectors faced selling pressure after Brent crude surged nearly 14% in two sessions to close to $85 per barrel, while company-specific developments kept Container Corp, Kalyan Jewellers, PC Jeweller and Biocon active during the session.
Here are the top movers and shakers at this hour:
Biocon
Biocon share price surged as much as 8.04% by midday and touched a fresh 52-week high after reports of a large block deal in the pre-open session. Around 9.2 crore shares were reportedly offered through the transaction, representing approximately 2.82% of Biocon’s total equity, with the deal described as a secondary sale, meaning the proceeds would go to the shareholder selling the stake rather than Biocon.
Container Corporation of India
Container Corporation of India share price surged more than 5% by midday after the state-run logistics company reported healthy growth in container volumes for the June quarter, indicating stronger cargo movement across its network. Total container throughput increased 8.9% year-on-year to 14,04,821 twenty-foot equivalent units during the quarter, compared with 12,90,101 TEUs in the corresponding period last year.
The stock also remained in focus after CONCOR recently signed a 15-year agreement with GAIL (India) to establish an LNG dispensing station at its Inland Container Depot in Ahmedabad. Under the agreement, GAIL will develop and operate the LNG retail outlet, while CONCOR will provide the required land and utility connections, with the project intended to encourage the use of cleaner fuel among heavy commercial vehicles operating through the logistics hub.
Bharat Petroleum Corporation
Bharat Petroleum Corporation share price declined around 2% by midday as the surge in international crude oil prices weighed on oil marketing companies. Brent crude climbed nearly 14% in two sessions to near $85 per barrel as tensions between the United States and Iran intensified and concerns grew over possible disruptions to maritime traffic and energy supplies.
Hindustan Petroleum Corporation
Hindustan Petroleum Corporation share price fell around 2% by midday as oil marketing companies came under pressure following the sharp rise in global crude oil prices. The renewed geopolitical tension involving the United States and Iran pushed Brent crude close to $85 per barrel after a rapid increase over two trading sessions, raising concerns over the cost of crude imports and the impact on fuel marketing margins.
Indian Oil Corporation
Indian Oil Corporation share price declined around 2% by midday as rising crude oil prices triggered selling across oil marketing companies. The rapid increase in Brent crude following renewed military tension between the United States and Iran led to the sharo price action. The market is also watching the risk of disruption to maritime traffic around the region.
InterGlobe Aviation
InterGlobe Aviation share price declined more than 3% by midday as the surge in crude oil prices raised concerns over higher aviation turbine fuel costs. Fuel remains one of the largest operating expenses for airlines, leaving the sector particularly sensitive to sudden increases in crude prices. Brent crude rose nearly 14% in two sessions to near $85 per barrel amid renewed tension between the United States and Iran and concerns over possible disruptions to regional shipping and energy supplies, putting pressure on IndiGo shares during the session.
SpiceJet
Spicejet Ltd. share price slipped 1.5% by midday as airline stocks came under pressure from the sharp rise in international crude oil prices. The increase in Brent crude to more than $85 per barrel raised concerns about higher aviation turbine fuel expenses at a time when airlines continue to manage other operating and financing costs. The renewed geopolitical tension in West Asia added to uncertainty over energy prices, keeping the stock in negative territory during the session.
Asian Paints
Asian Paints share price declined 3% by midday as the sharp rise in crude oil prices raised concerns over raw material costs for paint manufacturers. A significant portion of the industry’s input basket is linked directly or indirectly to crude oil, which means a sustained increase in energy prices can put pressure on margins unless companies are able to pass the additional costs through price increases.
Berger Paints
Berger Paints share price fell 2% by midday as paint companies faced selling pressure following the surge in global crude oil prices. The industry relies on several crude-linked raw materials, making a sharp increase in oil prices an immediate concern for input costs and profitability. The pressure came as Brent crude climbed nearly 14% in two sessions to more than $85 per barrel.
Kansai Nerolac Paints
Kansai Nerolac Paints share price declined 1.3% by midday as higher crude oil prices weighed on companies with substantial exposure to crude-linked raw materials. The rapid increase in Brent crude raised concerns that input costs could remain elevated if geopolitical tensions continue and energy supplies face further disruption. Paint stocks traded broadly lower during the session as the market assessed the possible impact of higher raw material expenses on operating margins.
Indigo Paints
Indigo Paints share price declined 3% by midday as selling spread across paint companies following the sharp increase in crude oil prices. Brent crude moved above $85 per barrel after gaining nearly 14% in two sessions, raising concerns about the cost of crude-linked inputs used by paint manufacturers.
CEAT
Ceat Ltd. share price declined 3% by midday as tyre manufacturers came under pressure from the sharp increase in crude oil prices. Several important tyre-making inputs, including synthetic rubber and other derivatives, are linked to crude oil, making a sustained rise in energy prices a concern for production costs and margins. Brent crude’s rapid advance to more than $85 per barrel led to selling across oil-sensitive sectors, with tyre companies among the counters facing immediate pressure.
MRF
MRF Ltd. share price slipped 1% by midday as the increase in global crude oil prices weighed on tyre stocks. Higher crude prices can raise the cost of synthetic rubber and other petroleum-linked materials used in tyre production, creating concerns over margin pressure if the increase cannot be fully passed on through higher product prices.
Balkrishna Industries
Balkrishna Industries Ltd. Industries share price declined 1.3% by midday as higher crude oil prices triggered weakness across tyre stocks. The sector remains exposed to changes in the cost of crude-linked raw materials, and the nearly 14% rise in Brent crude over two sessions raised concerns over input expenses.
Apollo Tyres
Apollo Tyres share price fell 3.4% by midday as the surge in crude oil prices increased concerns over raw material costs for tyre manufacturers. Synthetic rubber and several other inputs used in tyre production are linked to petroleum prices, leaving the industry exposed when crude rises rapidly. The stock was among the weaker tyre counters during the session as Brent crude traded above $85 per barrel following renewed tensions between the United States and Iran.
PC Jeweller
PC Jeweller Ltd. share price gained 1.41% by midday, recovering after profit booking in the previous session as buying interest returned following the company’s continued progress on debt reduction. The jewellery retailer recently said it had cleared outstanding dues to another lender under the joint settlement agreement signed with a consortium of banks in September 2024, taking it closer to its stated objective of becoming debt-free during Q2 FY27. The company’s June-quarter business update also provided support, with consolidated revenue increasing 21% year-on-year, while outstanding bank debt has fallen by more than 90% since the settlement agreement came into effect.
Kalyan Jewellers
Kalyan Jewellers share price gained around 4% by midday, extending its strong run as buying continued following the company’s June-quarter business update. The jewellery retailer reported 38% year-on-year revenue growth in its India operations despite the 28-day Adhik Maas period, while same-store sales increased approximately 28%. International operations recorded revenue growth of around 35%, with the West Asia business growing nearly 30%.
