Top Nifty gainers and losers at mid-day: Cipla and Divi’s gain, HCL, TCS sink

Frontline equity indices traded flat at mid-day on November 24, continuing with range-bound movement. The Nifty and the Sensex swung between gains and losses in the morning session as Asian markets traded mixed without any overnight cues from Wall Street closed for Thanksgiving. At mid-day, the Sensex was up 1.87 points at 66,019.68, and the Nifty was up 7.50 points at 19,809.50. About 1,688 shares advanced, 1,391 declined and 105 remained unchanged.

Cipla Ltd: Shares of the pharmaceutical major bounced back over 2 percent to Rs 1,201 to become the top gainer on the Nifty, a day after it slumped over 7 percent. The surge came after HSBC maintained a buy rating. The brokerage said “We don’t assume additional risk for Gadvair for which, site transfer is underway,” it said. The positive traction observed in its key marketed products is expected to bolster sales in the United States in FY24-26, it said.

Divi’s Laboratories Ltd: The share gained over 2 percent to Rs 3,767, snapping its two-day losing streak. As many as 5 lakh shares changed hands, equalling the 1-month average.

Hindalco Ltd: Shares of the Aditya Birla Group company gained over a percent to Rs 510, extending gains for the second day. Volumes were low, as 32 lakh shares changed hands against the one-week average of 56 lakh shares.

Dr Reddy’s Laboratories Ltd: The stock gained 1.3 percent at Rs 5,717, a day after the price fell 0.5 percent. About 3 lakh shares changed hands against the one-month average of 4 lakh shares.

JSW Steel: Shares of one of India’s leading steel producers gained over a percent to Rs 784 after the company said it successfully completed its strategic investment of Rs 750 crore in JSW Paints Private Ltd.

HCL Tech Ltd: Shares of the IT firm fell 1.2 percent to Rs 1,314, declining for the second day in a row. Volumes were low, as nine lakh shares changed hands as against the one-week average of 19 lakh.

TCS Ltd: Shares of the country’s leading IT player declined over a percent to Rs 3,475 as the IT services major turned ex-buyback. The company in October approved a buyback of shares worth Rs 17,000 crore at Rs 4,150 apiece.

Wipro Ltd: The IT stock fell 0.8 percent to Rs 399, a day after it traded in the green. About 17 lakh shares changed hands against the 1-week average of 39 lakh shares. 

Apollo Hospitals Enterprises Ltd: The healthcare firm traded lower for the second day in a row at Rs 5,450, down by 0.8 percent from the previous close on the NSE. Only 1 lakh shares changed hands as against the 1-month average of 5 lakh shares.

Britannia Industries Ltd: Shares of the FMCG major fell 0.7 percent to Rs 4,672 on the exchanges.