Stocks making the biggest moves midday: Trent, Titan, Cochin Shipyard and more

Here are the top movers and shakers at this hour:

Trent

The Trent Ltd. share price tumbled nearly 12% by midday after the retailer’s June quarter business update failed to meet market expectations despite reporting 19% year-on-year growth in standalone revenue. The company expanded its network to 1,312 stores by adding one Westside outlet and 19 Zudio stores during the quarter. However, analysts pointed to slower revenue growth than expected, continued weakness in revenue per square foot, rising competitive intensity and the impact of expansion into smaller cities as factors weighing on market sentiment. The stock emerged among the biggest losers in the benchmark indices despite continued store additions and revenue growth.

Titan

Titan Company Ltd. share price surged nearly 4% by midday after the company reported a robust business update for the June quarter, with domestic operations registering 37% year-on-year growth. The jewellery business expanded 39%, led by strong demand across Tanishq, Mia, Zoya, beYon and CaratLane, while the watches and eyewear businesses grew 23% each. The company’s international business recorded 128% growth, and consumer businesses advanced 41% during the quarter. Titan also added 76 stores across India, taking its domestic network to 3,517 outlets by the end of June. 

Kalyan Jewellers

Kalyan Jewellers share price declined more than 8% by midday despite reporting a strong operational update for the June quarter. The company recorded around 38% revenue growth in India, supported by approximately 28% same-store sales growth, while international operations expanded about 35% and digital jewellery platform Candere more than doubled its revenue. The company also launched 17 new showrooms during the quarter and said the current quarter has begun on a healthy note.

Cochin Shipyard

The share price of Cochin Shipyard declined over 4% by midday after the government announced an offer for sale of up to a 5% stake in the PSU shipbuilder. The offer opens for institutional investors on July 7 and for retail investors on July 8, with a floor price of Rs 1,400 per share, representing a discount to the previous closing price. The government currently owns 67.91% in the company, and the sale forms part of its ongoing disinvestment programme aimed at meeting its FY27 target of Rs 80,000 crore through stake sales and asset monetisation.

PB Fintech

PB Fintech Ltd. share price recovered from early losses and traded nearly flat by midday after Temasek-backed Macritchie Investments sold around a 2.2% stake through an open market transaction worth about Rs 1,633 crore. The transaction involved nearly 1.02 crore shares and initially weighed on the stock before buying interest helped trim losses. Separately, the company recently infused Rs 13 crore into its wholly owned subsidiary PB Pay to support business expansion and meet the Reserve Bank of India’s capital requirements for payment aggregators, while its March quarter earnings reflected healthy growth in both profit and revenue.

Blue Jet Healthcare

Blue Jet Healthcare share price gained over 4% by midday after the pharmaceutical company launched its qualified institutional placement (QIP) to raise funds from institutional investors. The board fixed the floor price at Rs 531.70 per equity share, with the issue eligible for a discount of up to 5% in line with shareholder approval. Reports suggested the fundraising could be around Rs 600 crore. The company had earlier indicated plans to mobilise up to Rs 1,000 crore through QIP and preferential allotments, with the fresh capital expected to support future expansion and business growth.