Indian benchmark indices traded lower by midday on Monday, August 17, with the Nifty 50 hovering around 24,290 and the Sensex near 77,655. BSE, Voltas and Zaggle Prepaid were among the notable decliners, while Molbio Diagnostics made a strong debut. IT stocks also remained under pressure, with the Nifty IT index down nearly 2% amid a weaker US dollar, higher crude prices and renewed geopolitical concerns.

Here are the top movers and shakers at this hour:

BSE

BSE Ltd. share price fell 4.76% by midday after Jefferies cut its FY27-FY29 earnings-per-share estimates by 5-12%, citing concerns around the impact of higher STT, RBI bank guarantee norms and the Closing Auction Session. The brokerage also noted that BSE’s August options average daily turnover was down 12% from July, while the stock was trading at about 44x one-year forward earnings.

PhysicsWallah

Shares of edtech company PhysicsWallah gained as much as 9% after the company reported a narrowing of its net loss for the first quarter of FY27, supported by growth across its online and offline learning businesses.

PhysicsWallah reported a consolidated net loss of Rs 88.28 crore in Q1FY27, compared with a loss of Rs 127 crore in the year-ago quarter. The company had reported a loss of Rs 120.45 crore in the corresponding period of the previous fiscal year.

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Molbio Diagnostics

The share price of Molbio Diagnostics debuted 21.44% above its Rs 807 issue price on Monday, August 17, after its Rs 939.70 crore IPO received 70.26 times subscription. The company raised Rs 200 crore through the fresh issue, with proceeds earmarked for its R&D facility, Centre of Excellence, office infrastructure and equipment, while the remaining issue comprised an offer for sale by existing shareholders.

Voltas

Voltas Ltd. share price declined 4% by midday after management said Q2 FY27 could be seasonally softer and pointed to commodity and currency volatility as near-term risks. The company had reported a 53% year-on-year rise in Q1 FY27 net profit to Rs 214 crore and a 19% increase in revenue to Rs 4,674 crore, while its proposed joint venture with Atomberg is expected to manufacture high-efficiency room air-conditioner compressors and related parts.

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Reliance Industries

Reliance Industries Ltd. share price remained in focus as the company and Rolls-Royce announced plans to jointly develop a sovereign combat engine for India’s AMCA programme and explore an Aerospace Gas Turbine Complex in India. Reliance also received the largest LPG production target under the government’s emergency domestic supply framework, while lower windfall tax rates on petrol, diesel and ATF exports from August 15 could support the refining business.

Indo-MIM

Stock price of Indo-MIM Ltd. declined 0.82% by midday ahead of its board meeting to consider Q1 FY27 financial results. The recently listed stock remained 73.69% above its Rs 485 IPO issue price after debuting at a 44.33% premium on July 30, with the Rs 3,811.21 crore IPO receiving 72.34 times subscription and proceeds from the fresh issue largely earmarked for debt repayment.

IT Stocks

IT stocks remained under pressure by midday, with the Nifty IT index declining 1.83% as Infosys fell 2.3%, TCS declined 2.1%, LTM dropped 2.3%, HCL Technologies slipped 1.9%, Wipro fell 1.4% and Tech Mahindra declined 1.5%. Mphasis was down 2.3%, while Tata Technologies fell 2.7%, as a weaker US dollar, higher crude prices, geopolitical uncertainty and profit-booking weighed on the sector.

Zaggle Prepaid

Zaggle Prepaid Ocean Services share price fell 20% by midday and hit the lower circuit after the company reported pressure on margins from higher costs in Q1 FY27. The decline followed a rise of more than 39% in expenses related to point redemption and gift cards, with heavy trading volumes adding to the selling pressure after the company’s quarterly results were announced on August 14.

Renewable Energy Stocks

Renewable energy stocks traded mixed by midday, with Waaree Energies Ltd. down 0.21%, Adani Green Energy lower 1.5% and NTPC Green down 0.18%, while Premier Energies gained 0.13% and Suzlon Energy advanced 0.82%. Waaree Energies remained in focus after its subsidiary agreed to form a joint venture with SmartenGrand to manufacture semiconductor products and establish a semiconductor fabrication unit in Gujarat, while Prime Minister Narendra Modi reiterated India’s target of reaching 500 GW of renewable power capacity by 2030.