Top Nifty gainers and losers at mid-day: Hindalco up, Power Grid down

The strong gains in the Indian market mirrored the upbeat mood in its global counterparts across the US and Asia. Some buying from lower levels also contributed to the gains as the benchmarks had succumbed to selling pressure in the previous session amid mixed global cues. Analysts also remain hopeful of seeing a sustained uptrend in the benchmarks. At 12:20, the Sensex was up 587.54 points or 0.90 percent at 65,521.41, and the Nifty was up 188.00 points or 0.97 percent at 19,631.50.

Hindalco Ltd: Shares of the Aditya Birla Group company surged over 4 percent to Rs 507, extending gains for the third day in a row. In Q2, it reported consolidated net profit for Q2 FY24 at Rs 2,196 crore, missing street estimates. Consolidated revenue from operations for the company fell 3.6 percent on-year to Rs 54,169 crore

Tech Mahindra Ltd: Shares of the IT major rose over 3 percent to Rs 1,171, a day after the stock fell almost a percent. As many as 14 lakh shares changed hands as against yesterday’s 4 lakh shares on the bourses.

ONGC Ltd: Shares of the oil maker rose over 2.6 percent to Rs 201 on November 15. In Q2, it posted a 142 percent on-year surge in consolidated net profit. Its revenue from operations, however, fell 12.9 percent to Rs 1.46 lakh crore in the quarter ending September 30, from Rs 1.68 lakh crore last year.

Eicher Motors Ltd: The shares of the Royal Enfield maker rose over 2 percent to Rs 3,731. In Q2, the auto major reported better-than-expected earnings for the fiscal second quarter. With a record revenue of Rs 4,115 crore, up 17 percent on-year, and EBITDA of Rs 1,087 crore, up 32 percent YoY, the company reported a highest ever net profit of Rs 1,016 crore, a robust growth of 55 percent on-year.

LTIMindtree Ltd: Shares of the IT major rose over 2 percent to Rs 5,383, extending gains for the second day in a row.

Power Grid Corp Ltd: Shares of the company rose 0.8 percent to Rs 210, snapping its five-day gaining streak on the bourses.

IndusInd Bank Ltd: Shares of the private lender snapping its two-day gaining streak on the exchanges. The stock was down 0.5 percent to Rs 1,502.

Britannia Industries Ltd: Shares of the FMCG giant fell 0.2 percent to Rs 4,688. In Q2, reported a consolidated net profit of Rs 586.50 crore for the September quarter of FY24, registering a growth of 19.55 percent from Rs 490.58 crore posted in the same quarter a year back.

Mahindra and Mahindra Ltd: Shares of the automobile major fell 0.2 percent to Rs 1,537. In Q2, reported a 66.9 percent growth in its standalone net profit at Rs 3,451.88 crore during the second quarter of this financial year. The sharp growth in profit was on the back of higher volumes as Sports Utility Vehicles (SUV) despatches remained strong fueled by order book execution and improvement in supply chain situation.

Sun Pharmaceuticals Ltd: Shares of the pharma major fell a marginal 0.05 percent to Rs 1,177, extending losses for the third day in a row.