The markets have staged some recovery in late trade and are now trading in the green. However, there are some stocks that continue to bleed. Here are the top buzzers—the movers and shakers in trade this afternoon.
Mazagon Dock
The Mazagon Dock share price has plunged nearly 3% in intra-day trade after disappointing Q1 numbers. The key defence play reported a 35% YoY drop in Q1 profit. Some of the key reasons why the profitability was impacted included a sharp increase in provisions coupled with rising employee costs. The significant jump in procurement expenses also hit the company’s Q1 profit. All eyes are now on the order book trend in the upcoming quarters.
Home First
Another stock that saw a significant slide in trade today is Home First. The share price of Home First has fallen as much as 5% intraday. This is primarily after the Q1 numbers. Disbursement growth was soft, and stress inched up in select pockets. Stage 3 assets rose 10 bps QoQ to 1.8%. The Q1 credit cost also remained elevated, up 12bps QoQ to 42bps.
The management indicated some increase in stress in 5-6 of its 17 regions, with sharper increases in Surat & Coimbatore. According to the management comment, the collections in Surat has improved in July, while Coimbatore is yet to see improvement.
Zen Tech
The share price of Zen Technologies has been under severe selling pressure. The share price is down 19% in last 1 month and key brokerage firm Nuvama has downgraded the stock to Hold. This is on the back of the slowdown in order momentum persists=ing for a fifth quarter in a row. The consolidated order backlog is a key concern for future growth visibility. However, the management is hopeful of order inputs improving by Q2. US-NATO exports optionality and India’s defence emergency procurement orders throughout FY26 is expected to support the share price.
Jio Financial
The Jio Financial share price has seen a significant rally in trade today. It has soared 23% in the last three months. The company’s board meeting scheduled for July 30. The company is set to consider capital raising plans at the be. The board may be contemplating multiple instruments like warrants, QIPs and the like.
L&T
The L&T share price is one of the top gainers on the benchmark indices after the ultra-mega order win. The share price zoomed up over 2% after the company’s Hydrocarbon Offshore Business (L&T Energy Hydrocarbon Offshore) arm secured an ultra-mega order from a prestigious client in the Middle East.
This order encompasses multiple offshore packages, and the scope includes engineering, procurement, construction, and installation of offshore structures, along with the upgradation of existing facilities.