Stocks making the biggest moves midday: HCL Tech, GMR Airports, Waaree Energies and more

Stock-specific developments remained the primary trigger, with investors reacting to government-backed initiatives, fundraising plans, traffic growth data, dividend announcements, strategic investments and stake-sale activity across sectors.

Here are the top movers and shakers at this hour:

HCL Technologies

HCL Technologies Ltd. share price rose more than 3% by midday after the company announced a strategic investment in sovereign artificial intelligence startup Sarvam AI.

The IT major will acquire a 10.46% stake in Sarvam AI for Rs 1,427.25 crore through the purchase of 41,421 equity shares. The transaction is expected to be completed within two weeks and does not require regulatory approvals.

Sarvam AI simultaneously announced the first close of its Series B funding round, raising US$234 million at a post-money valuation of US$1.5 billion. HCLTech is participating as the lead strategic investor with a commitment of US$150 million.

Management stated that the partnership combines Sarvam’s AI model research capabilities with HCLTech’s enterprise transformation expertise, engineering capabilities and global customer base. The investment is being viewed as a significant step toward building sovereign AI infrastructure and enterprise-grade AI solutions originating from India.

GMR Airports

GMR Airports Ltd. share price advanced more than 3% by midday after the company reported strong passenger traffic growth for May 2026.

According to the company’s monthly operational update, total passenger traffic across its airport portfolio increased 6.1% year-on-year to 10.63 million passengers. Domestic traffic grew 7.9% to 8.3 million passengers, while international traffic rose 0.4% to 2.4 million passengers.

The company said passenger volumes have remained around the 10 million mark every month since October 2025. Delhi Airport continued to remain the strongest contributor, recording its highest-ever passenger traffic both for May and the current financial year-to-date period.

While international traffic continues to face some pressure due to geopolitical disruptions in the Middle East, domestic travel demand has remained resilient. Investors responded positively to the sustained traffic momentum and the continued expansion of airport connectivity.

Waaree Energies

Waaree Energies Ltd. share price declined nearly 2% by midday after shareholders approved the company’s proposed fundraising programme.

The approval allows the company to raise up to Rs 10,000 crore through qualified institutional placement and other eligible securities. The fundraising proposal was initially cleared by the board in April and now moves closer to execution following shareholder approval.

Alongside the fundraising approval, shareholders also approved the appointment of Jignesh Devchandbhai Rathod as whole-time director and chief executive officer.

The decline came despite the company announcing a fresh order for the supply of 800 MW solar modules from a leading energy solutions provider. Market participants appeared focused on the potential equity dilution associated with the large capital raise even as the order pipeline remains strong.

Arvind SmartSpaces

Arvind SmartSpaces Ltd. share price jumped more than 10% by midday after the company announced a new residential development project in Ahmedabad.

The project is located on the Kerala-Nalsarovar Road corridor in South Ahmedabad and is expected to generate top-line revenue potential of approximately Rs 180 crore.

Management stated that South Ahmedabad continues to emerge as an attractive market for plotted developments and villa projects, supported by improving infrastructure and growing demand for low-density residential communities.

The market reaction was particularly strong because the estimated revenue potential from the new project exceeds the company’s consolidated quarterly revenue reported during the March quarter. Investors also took note of improving profitability trends, with EBITDA margins expanding to 36% during the latest quarter compared with 27% a year earlier.

Kalpataru Projects International

Kalpataru Projects International share price gained more than 4% by midday and touched a fresh 52-week high after the company announced its dividend record date and annual general meeting schedule.

The company fixed June 29 as the record date for determining shareholder eligibility for the final dividend of Rs 11 per equity share for FY26. Subject to shareholder approval, the dividend will be paid on or before August 13.

The board has also scheduled the company’s 45th annual general meeting for July 15 through video conferencing.

Apart from shareholder-related developments, the company recently secured fresh orders worth around Rs 2,002 crore across power transmission and distribution, buildings and factories, and railway segments. The steady flow of new project wins continues to support sentiment around the stock.

General Insurance Corporation of India

General Insurance Corporation of India share price fell more than 5% by midday as the government’s offer for sale opened for institutional investors.

The Centre is looking to divest up to a 5% stake in the reinsurance company through a combination of a 2% base offer and a 3% greenshoe option. The floor price has been fixed at Rs 352 per share, representing a discount to the previous closing price.

The two-day offer opens first for institutional investors and subsequently for retail investors. At the floor price, the transaction is expected to raise nearly Rs 3,000 crore for the government.

The stake sale forms part of the Centre’s broader disinvestment programme for FY27. The government has already raised more than Rs 13,000 crore through stake sales in Coal India, NHPC, Central Bank of India and NLC India, and remains on course toward its Rs 80,000 crore disinvestment and asset monetisation target for the fiscal year.