Absolutely flat Friday for the markets. The Niftyis struggling below the 26,200 levels while the Sensex continued below 85,500. The broader mood shaped by global cues and a bit of domestic rotation kept investor sentiment muted. That said, select stocks continued to see big movement in intra-day trade.
Here are the top movers and shakers at this hour:
M&M
The M&M share price gained over 1% as the company laid out ambitious projections at its investors’ day, including an eightfold jump in consolidated auto revenue by FY30 compared to FY20. Its roadmap from ramping SUVs to targeting international markets and strengthening EV mobility appealed to long-term investors, and the stock responded accordingly during the midday trade. Key brokerages like Motilal, Jefferies recommended Buy.
Hindalco
The Hindalco share price fell over 2%. This is after a fresh incident of fire at the Novelis Plant in Oswego, New York on November 20. However, the company has released a statement that “everyone working at the plant was safely evacuated and fortunately, there were no injuries. Multiple local fire departments responded, and the fire is now out. Crews remain on site to monitor.”
Novelis was supposed to resume operations after fire earlier this year shut down operations. All eyes are now on the December timeline.
Hyundai Motor India
Hyundai Motor India share price dropped over 2% after the company disclosed that it invested an additional Rs 21.46 crore into FPEL TN Wind Farm. With its total holding now at 26.49%, Hyundai is clearly pushing its renewable plans forward, but the market rarely reacts instantly to long-horizon capex, which explained the softness.
JSW Energy
JSW Energy share price slipped 3%, and the pressure wasn’t unexpected once the company confirmed that it had effectively become the holding entity for KSK Mahanadi Power Company and secured significant indirect ownership in Raigarh Champa Rail Infrastructure. The resolution plan for RCRIPL got the lenders’ nod, accompanied by a Letter of Intent.
JP Power
JP Power share price traded down over 7% after ongoing chatter that the Adani Group could edge past Vedanta in the race to acquire Jaiprakash Associates. Even with today’s drop, the stock had surged more than 27% over two days, indicating how quickly sentiment can swing in names that sit at the intersection of distress and opportunity.
Capillary Technologies
The new listing today- Capillary Technologies share price drifted after a weak debut, slipping 0.8% at listing at a discount. The Rs 877.7 crore issue split between new shares and an OFS didn’t generate enough buzz to sustain early momentum, though the brief post-listing uptick showed some traders fishing for a turnaround.
Sammaan Capital
Share price of Sammaan Capital, formerly known as Indiabulls Housing Finance, rebounded almost 4% on Friday after the company issued a detailed clarification addressing concerns following the Supreme Court proceedings on November 19.
In its media statement, Sammaan Capital clarified that the Supreme Court made no negative observations against the company. The court also explicitly stated, “We have not expressed any opinion against Sammaan Capital Limited. It added that the court has not directed any FIR to be registered against it. Instead, the bench has asked senior officials to examine the allegations raised in the petition and file a joint affidavit before the next hearing.