By midday on January 12, the mood on Dalal Street had clearly turned sour. The Nifty 50 is struggling belwo 26,000 while the BSE Sensex had slipped close to 82,990 levels.
The pressure was broad-based, but individual stocks were still making sharp, sometimes uncomfortable moves as earnings, clarifications, and corporate actions filtered through the market. Here is a look at the stocks making big moves by midday:
Ashok Leyland
Shares of Ashok Leyland bucked the broader weakness, rising around 2–3% intraday to trade near Rs 189–191, supported by strong volumes. The commercial vehicle maker had recently touched a record high.
Tejas Networks
Shares of Tejas Networks were among the hardest hit in Monday’s session, sliding nearly 13% intraday to around Rs 364 after the company reported another weak quarter. The Tata Group-backed telecom gear maker posted a consolidated loss of Rs 196.55 crore for the December quarter, marking the second straight quarterly loss, largely due to sharply lower sales and the deferment of a key purchase order from BSNL.
A year ago, the company had reported a profit of Rs 165.67 crore. Revenue collapsed by about 88% year-on-year to Rs 306.79 crore, in QFY26 down from more than Rs 2,600 crore in the same quarter last year.
Indian Energy Exchange
Shares of Indian Energy Exchange Ltd. remained in focus through the midday session, trading about 2% higher as investors returned to the counter after last week’s sharp swings. The stock was up 1.68% in trade as sentiment stabilised, helped in part by brokerage support even as regulatory uncertainty continues to hover in the background.
JM Financial Institutional Securities has maintained an ‘Add’ rating on the stock, assigning a price target of Rs 158, which implies an upside of nearly 14% from current levels. In its note dated January 9, 2026, the brokerage pointed out that the recent hearing before the Appellate Tribunal for Electricity focused narrowly on whether due regulatory process was followed by the Central Electricity Regulatory Commission, and did not examine the merits or impact of market coupling itself.
Manappuram Finance
Shares of Manappuram Finance rebounded strongly, climbing about 5% intraday to around Rs 299 on the BSE, as heavy volumes returned to the counter. The move came after the company pushed back against reports suggesting delays in its proposed transaction with Bain Capital due to regulatory concerns.
Management said the reports were factually incorrect, adding that approvals from the Reserve Bank of India for management changes at subsidiaries have already been received, with only the final transaction approval awaited. This came just days after the stock had slipped nearly 8% on the initial media reports. Given that the stock has surged over 70% in the past year, Monday’s bounce looked less like fresh optimism and more like a relief rally after a sharp scare.
Lemon Tree Hotels
Shares of Lemon Tree Hotels moved higher in the morning, gaining over 4% at one point to around Rs 156, after the company unveiled a restructuring plan and announced an investment by Warburg Pincus in its subsidiary, Fleur Hotels. The stock later pared gains, but remained in the green by midday.
The restructuring is aimed at separating the asset-light hotel management and brand business from the owned asset portfolio.
IREDA
In contrast, Indian Renewable Energy Development Agency was firmly in positive territory, rising sharply after delivering a strong set of December quarter numbers. The stock jumped as investors digested a 38% year-on-year rise in net profit to Rs 584.91 crore, supported by higher disbursements and improving operational performance.
Revenue from operations climbed 25% to Rs 2,130 crore, and sequential asset quality also improved, with gross NPAs easing to 3.75% and net NPAs to 1.68%, in Q3FY26.
Ashiana Housing
Shares of Ashiana Housing were under pressure, slipping close to 3% by midday after the company released its Q3 FY26 business update. The stock was trading near Rs 278, underperforming a falling benchmark.
With a market capitalisation of about Rs 2,800 crore, the counter has seen uneven sentiment over recent months.