Top Nifty gainers and losers at mid-day: M&M, Bajaj Finserv sink, Wipro, Hindalco shine

Benchmark indices deepened losses by afternoon amid weak global cues. Selling in auto, energy, FMCG, Infra and Pharma stocks dragged markets. Meanwhile, buying in Banks and IT counters helped cut losses. At 12:46 pm, the Sensex was down 170.06 points or 0.26 percent at 65,624.67, and the Nifty was down 43.60 points or 0.22 percent at 19,688.20.

Divis Laboratories Ltd: Shares of the pharmaceutical major rose over 3 percent to Rs 3,728 to become the top gainer on the index, extending gains for the fourth day in a row. In the last five trading sessions, the stock has climbed over 5 percent.

Hindalco Ltd: Shares of the copper and aluminium giant rose over a percent to Rs 504, snapping its two-day gaining streak on the bourses. About 25 lakh shares changed hands, lower than the 1-week average of 52 lakh shares.

HCL Tech Ltd: Shares of the IT major rose close to percent to Rs 1,320 on November 20. About 15 lakh shares changed hands, lower than the one-month average of 20 lakh shares on the exchanges.

Coal India Ltd: Shares of the public sector company rose 0.7 percent to Rs 347, breaking its two-day losing streak on the bourses. As many as 1 crore shares changed hands, equally the scrip’s one month average.

Wipro Ltd: Shares of the the IT company gained 1 percent to Rs 399 on November 20. Volumes were lower than the one-month average of 42 lakh shares, as only 28 lakh shares changed hands.

Mahindra and Mahindra Ltd: Shares of the automobile and tractor major slid over 2 percent to Rs 1,549 to become the top loser on the index, snapping a five-day gaining streak on the bourses. The drop comes after investors rushed to book profits owing to strong momentum in the last couple of sessions.

Bajaj Finance Ltd: Shares of the company fell to Rs 7,096, down nearly 2 percent. The stock extended losses for the second day in a row. The drop comes after the Reserve Bank of India (RBI) tightened norms for personal loans and credit cards to check the unbridled growth in this segment.
The central bank has raised credit risk weights on unsecured consumer loans by increasing the capital requirements for such loans as concerns have been growing over these borrowings.

Adani Enterprises Ltd: Shares of the flagship Adani firm dropped over a percent to Rs 2,175 on November 20. The drop comes after Reuters reported that Indian investigators are seeking to restart a probe into Adani Group for alleged overvaluation of coal imports and have asked the Supreme Court to allow them to collect evidence from Singapore, a step they say the company thwarted for years.

SBI Life Insurance Company Ltd: Shares of the insurance major fell 1.5 percent to Rs 1,394, breaking its three-day gaining streak on the bourses. Volumes were low as 4 lakh shares changed hands as against the 1-week average of 12 lakh shares.

Bajaj Finserv Ltd: Shares of the company fell 1.2 percent to Rs 1,596 after the lender temporarily suspended issuing member ID cards to customers following a November 15 RBI order. It added that the company had temporarily suspended the issuance of the Existing Member Identification (EMI) cards to new customers till “the deficiencies observed by the RBI are rectified to their satisfaction” and added that it will continue to offer financing to new and existing customers at dealer stores in the normal course of business.