The markets have been rather muted in afternoon trade with the Nifty hovering below 25,800 and the Sensex around 84,435. The headline indices moved little, but beneath that calm surface, individual stocks moved sharply.
Here are the top movers and shakers at this hour:
Meesho
Meesho share price jumped 20%, hitting its upper circuit and printing a fresh all-time high at Rs 216.34. The rally came after UBS initiated coverage as per various media rpeorts, and the market did not wait to digest the fine print before acting. The brokerage pointed to Meesho’s asset-light structure and negative working capital model, noting that unlike many internet peers, the company is already generating positive cash flows. UBS estimates Meesho’s net merchandise value to grow at a 30% CAGR between FY25 and FY30, driven by a sharp rise in transacting users and higher ordering frequency, even as average order values trend lower.
Ahluwalia Contracts
Ahluwalia Contracts share price jumped 4% after the company secured a large domestic order worth Rs 888.38 crore, including GST. The project involves construction of the Shri Ram Janmabhoomi Tirtha Kshetra at Punauradham in Bihar under the EPC model, with an execution timeline of 42 months. The company was quick to clarify that there are no related-party interests.
Aditya Birla Real Estate
Aditya Birla Real Estate share price jumped over 3% after the Competition Commission of India approved ITC’s acquisition of its pulp and paper business. The clearance removed a key overhang on the transaction. The stock climbed to an intraday high near Rs 1,760, even as the broader market stayed subdued.
PSU Banks
PSU bank share prices jumped about 1%, with the Nifty PSU Bank index outperforming the broader market. SBI, Canara Bank and Bank of India traded higher, while Punjab National Bank, Indian Bank and Bank of Baroda also saw gains 1-2%. Canara Bank stood out with a rise of nearly 2%, supported by heavy volumes. The move looked sectoral rather than stock-specific, a sign that traders were selectively rotating into state-owned lenders after recent underperformance.
Nephrocare Health Services
Nephrocare Health Services share price jumped around 6%, marking a modest but positive debut. The dialysis services provider listed at Rs 490 on the NSE, a premium of 6.52% over its IPO price, and at Rs 491.7 on the BSE. The IPO raised Rs 871.05 crore, combining fresh equity and an offer for sale by promoters and institutional investors.
Park Medi World
Park Medi World share price declined nearly 4%, disappointing investors on debut. The stock listed at Rs 158.8, below its IPO price of Rs 162, immediately putting issue-allottees under pressure. The company raised Rs 920 crore, with funds earmarked largely for debt reduction and hospital expansion.
Kaynes Technology
Kaynes Technology’s share price jumped over 3% after its semiconductor ambitions received fresh backing. The move followed an announcement that its wholly owned arm, Kaynes Semicon, has entered into strategic partnerships with Japan’s AOI Electronics and Mitsui & Co. The collaboration brings advanced back-end semiconductor expertise into Kaynes’ fold, covering packaging and wafer-level technologies.
EPACK Durable
EPACK Durable share price jumped 9%, extending an already aggressive rally. Over the past two sessions, the stock has surged 27%, and over four days, more than 30%.