The selloff in the markets continued to deepen in afternoon trade. The Nifty 50 and the Sensex are down over 1% each and big dent across IT stocks. The Nifty IT Index is down nearly 5% in trade today and Infosys has plunged to 5-year lows. Small and midcaps did not escape either.
A quick look at the top movers and shakers at this hour –
Infosys
Infosys Ltd. share price dropped over 5% by midday to around Rs 1,176, marking a fresh 52-week and a 5-year low. The reaction came after the company reported its March quarter results and issued its guidance. Net profit for the quarter rose 20.8% to Rs 8,501 crore, and revenue increased 13.4% to Rs 46,402 crore. For the full year, profit rose 10.20% to Rs 29,440 crore, with revenue at Rs 178,650 crore. However, the FY27 revenue growth guidance of 1.5% to 3.5% in constant currency terms did not meet expectations. Management also pointed to a change in the economic environment linked to the West Asia conflict, even as it indicated some stabilisation.
Reliance Industries
Reliance Industries share price slipped about 1% by midday to around Rs 1,329 ahead of its March quarter results announcement later in the day. Expectations indicate revenue growth of around 8% to 10% year-on-year, with EBITDA likely in the range of Rs 45,000 crore to Rs 50,000 crore. Net profit is expected to remain largely flat. The oil-to-chemicals and oil and gas segments are likely to face margin pressure, while telecom and retail are expected to provide support through steady growth and continued expansion.
HCL Technologies
HCL Technologies Ltd. share price declined about 4.4% by midday to around Rs 1,220, extending losses for the third consecutive session. Over three sessions, the stock has fallen about 15%, erasing close to Rs 59,000 crore in market capitalisation. The decline followed weak March quarter earnings and subdued guidance. The company projected FY27 revenue growth of 1% to 4% in constant currency terms and reported FY26 growth of 3.9%, missing its earlier guidance range of 4.0% to 4.5%. Services growth guidance of 1.5% to 4.5% also remained below the 4.8% growth recorded in FY26.
Waaree Energies
Waaree Energies share price declined about 4.6% by midday to around Rs 3,258 after the United States imposed preliminary anti-dumping duties on solar imports from India, Laos and Indonesia. The duty margin for Indian exports was placed at 123.04%, significantly higher than 22.46% for Laos and 35.17% for Indonesia. The action followed a petition by The Alliance for American Solar Manufacturing and Trade, which argued that low-cost imports were hurting domestic manufacturers. The development also pulled down other solar names, with Vikram Solar and Premier Energies trading lower during the session.
Cyient
Cyient share price fell about 4% by midday to around Rs 898 after the company reported its Q4FY26 results. Net profit declined 67.7% year-on-year to Rs 54.8 crore from Rs 170.4 crore. Sequentially, profit dropped 40% from Rs 91.8 crore. The sharp decline in profitability led to selling pressure despite broader market weakness already weighing on IT stocks.
Azad Engineering
Azad Engineering share price gained over 4% by midday, trading near its intraday high of Rs 2,202.75. The stock extended gains for the third consecutive session and has risen about 18% during this period. Over the past month, the stock has increased 51%, compared to a 6% decline in the benchmark index. The stock had touched a 52-week low of Rs 1,358.70 on March 23, 2026.
UTI Asset Management Company
UTI Asset Management Company share price declined about 5% by midday to around Rs 982 after the company reported a net loss in Q4FY26. The company posted a loss of Rs 51.4 crore compared to a profit of Rs 102 crore in the same quarter a year ago. The loss was driven by mark-to-market impact, which led to negative other income of Rs 163 crore. The stock moved lower soon after opening and remained under pressure through the session.