Top Nifty gainers and losers at mid-day: TCS, HCL tech up; Hindalco, UPL sink

Equity benchmarks the Sensex and the Nifty traded in the green in the afternoon on November 16 on positive global cues and gains in IT names. At 12.29 pm, the Sensex was up 448.83 points or 0.68 percent at 66,124.76, and the Nifty was up 127.30 points or 0.65 percent at 19,802.80. About 1,842 shares advanced, 1,310 declined and 89 unchanged.

TCS Ltd: Shares of the leading IT player in the country rose over 2 percent to Rs 3,479. The surge comes after the firm fixed November 25 as the record date for the purpose of determining the entitlement and the names of the shareholders eligible to participate in the buyback. The IT player will buy back up to 40.96 million fully paid-up equity shares of face value of Rs 1 each at Rs 4,150 apiece share for a total amount not exceeding Rs 17,000 crore. The buyback plan was announced on October 11.

NTPC Ltd: The PSU share rose 2.1 percent to Rs 252, extending gains for the sixth day. As many as 1 crore shares had changed hands on the bourses.

HCL Tech Ltd: The IT services company’s stock rose 1.8 percent to Rs 1,300, gaining for the fourth consecutive session. 

Infosys Ltd: Shares of the IT company advanced 2 percent to Rs 1,439, extending gains for the second day. In Q2, the company reported a 3 percent year-on-year rise in net profit at Rs 6,212 crore, above Moneycontrol’s estimates of Rs 6,156 crore.

BPCL Ltd: The shares of the petroleum major gained 1.7 percent to Rs 399, rallying for the third day in a row.

Power Grid Corp Ltd: The shares of the public sector undertaking tanked 1.5 percent to Rs 207, making it the biggest Nifty loser. The price has fallen for the second day in a row.

Hindalco Ltd: The stock price of the aluminium and copper giant fell 0.7 percent to Rs 508 on November 16. In Q2, the company’s net profit came in flat at Rs 2,196 crore, missing street estimates.  Its consolidated revenue from operations for the company fell 3.6 percent on-year to Rs 54,169 crore.

UPL Ltd: The stock price of the company slipped 0.5 percent to Rs 558. In Q2, it posted a net loss of Rs 189 crore. The company had reported a net profit of Rs 996 crore in the year-ago period.

Coal India Ltd: Shares of the coal major fell 0.6 percent to Rs 348. In Q2, the company reported a 12.5 percent rise in consolidated net profit at Rs 6,800 crore, driven by higher sales and larger profit contributions from CIL’s joint ventures (JV).

Adani Enterprises Ltd: Shares of the flagship Adani firm fell 0.4 percent to Rs 2,215, extending losses for the second day in a row.