Top Nifty gainers, losers at mid-day: HCL Tech, Coal India rise; Grasim, Nestle tumble

The Sensex was down 16.04 points or 0.02 percent at 66,266.70, and the Nifty was up 8.50 points or 0.04 percent at 19,759.50 by 12pm on October 16. About 1,918 shares advanced, 1,289 declined, and 156 shares were unchanged.

HCL Tech: Shares of the company rose 1 percent to Rs 1,267 on October 16, becoming the top gainer on the Nifty. For Q2, the topline increased by 8 percent and the profit increased by 9.83 percent YoY. As compared to the previous quarter, the revenue grew by 1.43 percent and the profit increased by 8.43 percent.

LTIMindtree Ltd: Share price of the IT major rose nearly 1.5 percent to Rs 5,161 on the bourses, snapping its three-day losing streak. Volumes were lower as 1 lakh shares changed hands as against the 1-week average of 3 lakh shares.

ONGC Ltd: The shares gained 1.2 percent to Rs 187 at mid-day, extending gains for the second day in a row after Brent crude prices spiked 6 percent as investors remained on the edge about escalating geopolitical tensions in the Middle East.

Hero Motocorp Ltd: Shares of the automobile major edged up 1.33 percent to Rs 3,139, extending gains for the third straight day. Volumes were lower as 4 lakh shares changed hands as against the one-week average of 8 lakh shares.

Coal India Ltd: The share price of the coal major gained 1.1 percent to Rs 311, up three days in a row. A total of 69 lakh shares changed hands, much lower than the 1-week average of 1 crore shares.

Nestle India Ltd: Shares of the FMCG major fell 2.05 percent to Rs 23,071, a day after gaining over 2 percent. As many as 55 lakh shares changed hands, marginally lower than the 1-week average of 57 lakh shares. The company shall announce its Q2 results on October 19.

Grasim Industries Ltd: Shares of the Aditya Birla Group-controlled company fell 1 percent to Rs 1,965 ahead of the board’s decision to take a call on raising funds through a rights issue, a preferential issue, or a qualified institutional placement (QIP). “A meeting of the board of directors of Grasim Industries Limited is scheduled to be held on Monday, October 16,” the company said in an exchange filing.

Divis Labratories Ltd: Shares of the pharma major fell 1.4 percent to Rs 3,684, extending losses for the second day in a row. Volumes were low as 1 lakh shares changed hands s against the 1-week average of 3 lakh shares.

Asian Paints Ltd: Shares of the company fell 1.15 percent to Rs 3,112, extending losses for the third day in a row. The drop comes amid a 6 percent spike in crude oil prices, a major component in the paint industry. The surge in prices comes on the back of rising military escalations in the Middle-East.

IndusInd Bank Ltd: Shares of the private lender fell 1.2 percent to Rs 1,446, snapping its three-day gaining streak. Volumes were lower as 11 lakh shares changed hands against the 48 lakh shares shares in the previous trading session.