The benchmark indices traded with modest gains by midday on July 16 as buying in select financial and energy stocks helped offset weakness in insurance counters. The Nifty 50 was hovering above the 24,100 level, while the BSE Sensex was trading near the 77,400 mark.
Earnings reactions dominated trading activity, while fresh policy measures for the electronics and semiconductor ecosystem also lifted several manufacturing stocks.
Here are the top movers and shakers at this hour:
EMS Stocks
The share price of electronics manufacturing services (EMS) companies traded firmly higher by midday after the Union Cabinet approved the Rs 1.27 lakh crore Semicon 2.0 programme and the Rs 62,500 crore Mobile Phone Manufacturing Scheme.
The policy measures lifted sentiment across the electronics manufacturing space, with Dixon Technologies (India) ]rising around 5%, Kaynes Technology gaining nearly 4%, Syrma SGS Technology advancing about 3%, Cyient DLM climbing close to 3%, and PG Electroplast Ltd. adding around 2% by midday.
The new initiatives are aimed at expanding semiconductor manufacturing, increasing domestic mobile phone production and boosting exports. The government expects the semiconductor programme to attract investments of around Rs 4 lakh crore, generate chip production worth Rs 2 lakh crore during the scheme period and support exports of nearly Rs 1 lakh crore, strengthening sentiment across the EMS pack.
MRPL
Mangalore Refinery And Petrochemicals Ltd. share price rallied 8% by midday after the ONGC subsidiary reported a sharp improvement in June quarter earnings. Consolidated net profit surged to Rs 945.68 crore from Rs 116.99 crore in the previous quarter, while the company swung back into profit from a loss reported a year earlier. Q1 Revenue from operations increased 46.03% sequentially and 98.24% year-on-year.
Q1 EBITDA jumped to Rs 1,860 crore, nearly eight times the level recorded in the corresponding quarter last year, while refinery throughput increased 25.85% year-on-year. The quarter also included a one-time gain of Rs 471.76 crore arising from revised petroleum product prices on earlier supplies.
Emmvee Photovoltaic Power
Emmvee Photovoltaic Power share price advanced 6% by midday after the solar equipment manufacturer delivered a strong set of June quarter results and touched a fresh 52-week high. Consolidated net profit jumped 102% year-on-year to Rs 380 crore, while revenue increased 51% to Rs 1,556 crore. EBITDA climbed 56% to Rs 549 crore, with margins expanding to 35.26%.
The company also recorded its highest-ever quarterly production, with solar module output rising 53% and solar cell production increasing 26% from a year ago. Order inflows of 1.48 GW lifted its order book to an all-time high of around 9.9 GW, providing healthy business visibility for the coming quarters.
Himadri Speciality Chemicals
Himadri Speciality Chemical share price surged 3.91% by midday after the company reported its strongest-ever quarterly financial performance for the June quarter of FY27. Consolidated net profit rose 27.36% year-on-year to Rs 228.43 crore, while revenue climbed 28.04% to a record Rs 1,431.88 crore.
Q1 EBITDA increased 33% to Rs 313 crore with margins at 22%. Although standalone sales volumes declined 5.7% as the company moved towards higher-value products, management attributed the record earnings to an improved product mix, speciality materials growth and continued progress in its diversification strategy. The company also reiterated its long-term focus on expanding advanced materials and application-driven solutions.
Jupiter Life Line Hospitals
Jupiter Life Line Hospitals share price gained 4% by midday after a block deal involving HDFC Mutual Fund boosted sentiment around the hospital operator. HDFC Mutual Fund acquired 9.37 lakh shares, representing a 1.43% stake, through open market transactions worth around Rs 139 crore.
The shares were purchased from two public shareholders at an average price of Rs 1,483.50 apiece. The buying also came against the backdrop of the company’s healthy operational performance, with fourth-quarter FY26 net profit rising 15.04% year-on-year and revenue increasing 15.2%.
ICICI Lombard General Insurance
ICICI Lombard General Insurance Company share price tumbled 12% by midday after the company’s June quarter earnings disappointed the market due to a steep rise in claims and operating expenses. Net profit declined 46% year-on-year to Rs 403.17 crore despite a 10% increase in gross premium income.
Q1 claim payments rose 20.6%, outstanding claims increased 23%, while commission and brokerage expenses climbed 33% during the quarter. The incurred claim ratio also worsened to 76.4% from 73% a year earlier, overshadowing growth in premium collections and total income.
