The market pushed through a restless midday session on December 4, with the Nifty hovering around 25,990 and the Sensex trading close to 85,150, neither index choosing a firm direction despite scattered spurts of activity across metals, energy, and select midcaps. It felt like one of those sessions where the tape moves reluctantly, yet individual stocks behave as if they’re in their own private battles.
Here are the top movers and shakers at this hour:
JSW Steel
JSW Steel share price jumped nearly 2% intra-day after the company’s joint venture with Japan’s JFE Steel. Under the agreement, the steel business undertaking of BPSL will be transferred into the JV for Rs 24,483 crore through a slump sale. The potential value unlocking through the Bhushan Steel retructructuring is seen as a key catalyst for the stock. Several brokerages have given a positive recommendation post the deals and Motilal Oswal sees 18% upside going forward.
IndiGo (InterGlobe Aviation)
The IndiGo share price fell 2% as operational disruptions rippled across its network for the second straight day. More than 100 flights were cancelled, dozens delayed, and airports saw a repeat of Wednesday’s unpleasant scenes where passengers were stranded with no clarity.
The DGCA launched an investigation and sought a full breakdown of the causes, flight recovery plan, and corrective steps.
Hindustan Copper
Hindustan Copper share price surged 6.6% as the entire metal pack rallied in reaction to a sharp drop in the US dollar index, which slid to 98.86, its lowest level since late October.
A weaker dollar typically boosts buying interest in dollar-denominated commodities, and traders positioned themselves aggressively across the metal basket. Hindustan Copper captured the strongest move, while Vedanta, National Aluminium, SAIL, NMDC, Hindalco, and Adani Enterprises (through its indirect metal exposure) traded with gains ranging from 0.5% to 1.3%.
Adani Enterprises
Adani Enterprises share price gained 1.9% after the company announced that its data-centre joint venture, AdaniConneX, has incorporated a new subsidiary dedicated to the construction, development, and operation of data centre infrastructure.
Petronet LNG
Petronet LNG share price advanced 4% after signing a 15-year binding term sheet with ONGC for ethane unloading, storage, and handling services. Ethane logistics isn’t a headline-grabbing business, but for Petronet, it adds a long-term cash flow stream that aligns with the company’s continuing efforts to widen its service mix.
ONGC shares also traded modestly higher, up 0.6%, but Petronet took most of the spotlight as the structure of the agreement suggested meaningful volume visibility for over a decade.
Pine Labs
Pine Labs share price rose 2.6% after the fintech firm declared a clean return to profitability, posting a Rs 5.97 crore consolidated net profit for Q2 FY26 against a heavy loss of Rs 32.01 crore a year earlier.
Revenue climbed nearly 18%, while adjusted EBITDA jumped 62% year-on-year, boosted by stronger margins and sharper cost controls. The company also highlighted a Rs 241 crore operating cash flow (excluding early settlement).
Mukka Proteins
Mukka Proteins share price jumped 20% after the company announced that its joint venture had secured a massive order from Bengaluru Solid Waste Management Limited worth Rs 474.89 lakh crore, excluding GST. The stock later settled and was trading up over 5% during the midday session.
The order covers treatment and disposal of legacy leachate at the Mittaganahalli and Kannur landfill sites a long, messy job that will run up to four years, or until the accumulated waste is fully processed.
