Top stock movers — RIL, TCS, Sterling and Wilson Solar, Tata Steel, Airtel, Vodafone Idea and more
- The 30-share index was trading 0.86% higher, and the Nifty50 rose 92.25 points at 9:50 am.
- These were the top losers and gainers in the Nifty pack.
- These are the top stocks that are buzzing in trade today.
- Check out the latest news and updates on Business Insider.
AdvertisementIndian stock market index Sensex surged over 300 points in early trade on Wednesday, tracking gains in index-heavyweights Reliance Industries, Infosys and HDFC Bank amid positive domestic and global cues.
The 30-share index was trading 0.86% higher, and the Nifty50 rose 92.25 points at 9:50 am.
These were the top losers and gainers in the Nifty pack:
*as of September 23, 10:00 am
|Top Nifty Gainers||Top Nifty Losers|
|Dr. Reddy's Laboratories||JSW Steel|
These are the top stocks that are buzzing in trade today.
RIL shares gain 2%
The shares of Mukesh Ambani owned RIL gained 2% after it secured ₹5,550 crore investment from American PE firm KKR. With this investment, KKR will take up a 1.28% stake in Ambani’s retail venture.
Bharti Airtel and Vodafone Idea shares dip
Bharti Airtel and Vodafone Idea down shares were trading in red in an otherwise firm market. Bharti Airtel was down 4%, and Vodafone Idea lost 5% after the government informed the parliament that Telecom operators, including Bharti Airtel and Vodafone Idea, have to pay 10% AGR dues demanded by the Department of Telecommunications (DoT) by March 31.
Also, Ambani-owned Jio unveiled its JioPostpaid Plus plans in a bid to lure more customers. The company will offer subscriptions to Netflix, Amazon Prime and Disney + Hotstar with a monthly tariff from ₹399 to ₹1,499 with different benefits.
Hindustan Construction Company (HCC) shares trade 7% higher
The shares of Hindustan Construction Company was trading 7% higher after the company said it had completed the sale of Farakka-Raiganj Highways to Cube Highways and Infrastructure II Pte, at an enterprise value of ₹1,508 crore.
Sterling and Wilson Solar leaps 18%, TCS down 2%
The shares of Shapoorji Pallonji subsidiary Sterling and Wilson Solar gained 18% after the SP group told the SC that a separation from the Tata Group is necessary due to the potential impact this continuing litigation could have on the livelihoods and the economy.
Excluding TCS, the last quarter losses of all the listed group companies of approximately ₹14,000 crore have caused great concern, SP Group has said. TCS and Tata Steel also lost nearly 2% after this during the early trade hours.
Future Enterprises down 3%
The shares of Kishore Biyani owned Future Enterprises lost 3% after it defaulted again on interest payments of ₹15.86 crore for its non-convertible debentures.
With this, the other Future Group stocks slumped too— Future Retail down 4%, Future Lifestyle Fashions down 3%, and others were in the red as well.
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