The markets have been under pressure in midday trade on April 23, and the weakness was not limited to a single pocket. The Nifty hovered around 24,180, down about 0.82%, while the Sensex declined 0.95%. Banking and financial stocks dragged the indices lower, with Nifty Bank down about 1.04% and the Nifty Financial Services slipping 1.38%. Midcaps did not escape either, though the fall was relatively contained.

Against this backdrop, individual stocks moved sharply in both directions based on earnings, corporate actions, and sector-specific activity.

Here are the top movers and shakers at this hour:

Havells India

Havells India share price declined about 6% by midday after hitting an intraday low near Rs 1,265. The company reported a 40% rise in March quarter net profit, but that did not support the stock. EBITDA margin contracted to 10.9% from 11.6% year-on-year. EBITDA declined 4.4% to Rs 728 crore from Rs 761 crore. Weaknesses in certain segments also contributed to the decline.

Jio Financial Services

Stock price of Jio Financial Services rose about 3.1% by midday after the company entered into a binding agreement with Allianz Group to form a 50:50 joint venture in general and health insurance. The agreement follows an earlier announcement made in July 2025. The venture will begin operations after regulatory approvals, and a separate agreement for life insurance is under discussion.

Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories share price increased about 6.4% by midday. There was no specific company announcement during trading hours. The stock moved higher along with other pharmaceutical companies during the session.

Trent

Trent share price rose about 3% by midday after reporting its March quarter results and announcing a bonus issue along with a dividend. Standalone net profit increased 30% to Rs 455 crore, while revenue rose to Rs 4,936.6 crore from Rs 4,106.1 crore. EBITDA increased 43% to Rs 668 crore. On a consolidated basis, revenue stood at Rs 5,028 crore, up 19%, and net profit rose 33% to Rs 413.1 crore. Sequentially, profit declined 19% from Rs 510.1 crore.

Bharat Coking Coal

Bharat Coking Coal share price fell about 3% by midday after the company reported its quarterly and FY26 results. Revenue declined 15% year-on-year to Rs 3,282 crore in Q4FY26. Output fell to 10.87 million tonnes from 11.4 million tonnes. Net sales declined 7.5% to Rs 3,839 crore. EBITDA dropped 36.2% to Rs 221 crore, while margin declined to 5.7% from 8.3%. Net profit fell 59.1% to Rs 27 crore. For FY26, revenue declined 14.2% to Rs 13,644 crore with lower output and offtake.

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Central Mine Planning & Design Institute (CMPDI)

Stock price of Central Mine Planning & Design Institute declined about 2.4% by midday after reporting a 32% fall in March quarter net profit to Rs 187 crore. Revenue increased 11% to Rs 827 crore. Total expenses rose 42% to Rs 589 crore, impacting profitability. Earnings per share declined to Rs 2.63 from Rs 3.88. The company recommended a final dividend of Rs 1.06 per share, subject to shareholder approval.

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Tata Communications

Tata Communications share price gained about 4.4% by midday. The company reported a 66% decline in net profit to Rs 259 crore in Q4FY26 compared to Rs 761 crore a year earlier. Revenue from operations rose 9.4% to Rs 6,554.15 crore. The board recommended a final dividend of Rs 17.50 per share, subject to approval.

Oracle Financial Services Software

Oracle Financial Services Software share price rose about 7% by midday after the company announced a second interim dividend of Rs 270 per share for FY26. The record date is May 7, 2026, and the dividend will be paid on or before May 21, 2026. The company had earlier declared an interim dividend of Rs 130 per share in November 2025.