Top Nifty gainers & losers at mid-day: NTPC, Power Grid shine, TCS, Infosys drop

Equity benchmarks the Sensex and the Nifty extended losses for a second day to trade lower on December 13 afternoon, as investors continued to book profits off the recent stellar gains while waiting for the US Federal Reserve’s monetary policy outcome due later in the day. At 12.22 pm, the Sensex was down 447.11 points or 0.64 percent at 69,103.92 and the Nifty was down 135.20 points, or 0.65 percent, at 20,771.20. About 1,630 shares advanced, 1,528 declined and 78 were unchanged.

NTPC Ltd: Shares of the public sector undertaking company gained over 2 percent to Rs 289 on December 13, a day after the counter fell over a percent. Volumes were low. One crore shares changed hands against the 1-week daily average of 2 crore.

Power Grid Corporation of India Ltd: Shares of the state-owned power company surged 1.6 percent to Rs 235, extending gains for the third consecutive session. The company was recently declared the successful bidder to establish two inter-state transmission system projects on build, own, operate and transfer (BOOT) basis.

Hero Motocorp: The stock gained 1.5 percent to Rs 3,804, trading in the green for the second day in a row. In November, the motorcycle manufacturer sold 4,76,286 units in the domestic market, while its exports stood at 14,764 vehicles, registering a 25 percent and a 33 percent YoY growth, respectively.

Dr Reddy’s Laboratories Ltd: Shares of the pharma major gained nearly a percent to Rs 5,592, rallying for the second day. Recently, the USFDA issued three observations for the company’s Telangana plant.

Eicher Motors Ltd: Shares of the truck and Royal Enfield maker gained 0.6 percent to Rs 3,975, snapping a three-day losing streak. Volumes were low, as 3 lakh shares changed hands against the one-week daily average of 7 lakh shares. 

Infosys Ltd: Shares of the IT major fell 2.7 percent to Rs 1,439 after the company’s chief financial officer, Nilanjan Roy stepped down to pursue personal aspirations. Since Roy’s resignation comes at a time when tier-I information technology companies are suffering from an increasing number of top brass exits, it has dented sentiment. The American Depository Receipts (ADRs) of the Indian company also fell.

TCS Ltd: Shares of India’s biggest IT services player fell close to 3 percent to Rs 3,576, snapping a massive nine-day rally. For its recent buyback, the company has determined the acceptance ratio at around 35 percent.

HDFC Life Insurance Company Ltd: The insurance major snapped a two-day gaining streak to trade 2.3 percent lower at Rs 690, as investors rushed to book profit. Volumes were low as 29 lakh shares changed hands, lower than the one-week average of 43 lakh shares.

LTIMindtree Ltd: Shares of the Larsen and Toubro group company slumped over 2 percent to Rs 5,625. About 2 lakh shares changed hands, lower than the one-week daily average of 5 lakh.

Bajaj Finserv Ltd: The stock traded 2 percent lower at Rs 1,672. About 5 lakh shares changed hands, lower than the one-week average of 11 lakh.