Gainers and losers at mid-day: 10 Nifty stocks that moved the most on September 29

The Sensex was up 441.96 points or 0.67 percent at 65,950.28, and the Nifty was up 146.20 points or 0.75 percent at 19,669.70, on September 29 afternoon. About 1,982 shares advanced, 986 declined, and 105 were unchanged.

NTPC: Shares darted up after an 800-MW plant went on stream. The rise in stock price also followed a “buy” call from ICICI Securities with a target price of Rs 300. The share was trading at Rs 247, up over 4 percent from the previous close.

Dr Reddy’s Laboratories: The stock gained over 3 percent, making it the second biggest gainer on the Nifty after the company incorporated a step-down wholly-owned subsidiary. The entity will be engaged in importation, warehousing, distribution and exportation. Dr Reddy’s Laboratories was trading 3.2 percent higher at Rs 5,605.

Hindalco Industries: The stock was up about 3 percent, with more than 37 lakh shares changing hands. A day earlier, the stock has tanked 2 percent. Shares traded over 5 percent higher at Rs 491 in today’s session. 

Cipla: The stock bounced back on September 29, a day after the scrip closed over a percent lower. The promoters are in advanced talks with two consortiums led by Torrent Pharmaceuticals and a group of buyout firms led by BPEA EQT and General Atlantic to sell a controlling stake in India’s fourth-largest drugmaker. The Cipla stock was trading at Rs 1,193, up 2.56 percent from the previous close on the NSE.

Sun Pharmaceuticals: The share traded higher after the pharma major said one of its subsidiary companies signed a binding letter of intent to acquire the remaining 25 percent outstanding shares of Sun Pharma de México, SA de CV. After the acquisition, Sun Pharma de México will become a wholly-owned subsidiary of the company. The acquisition cost is MXN $161.85 million. The Sun Pharma stock was trading over percent at Rs 1,157 on the NSE.

LTIMindtree: The stock was the top loser on the Nifty after Accenture’s modest revenue growth guidance of 2-5 percent year-on-year (YoY) in constant currency terms (CC) for the fiscal year 2023-24 (FY24). The Dublin-headquartered Accenture’s 3-percent sequential decline in deal bookings in the August-ended quarter (Q4FY23) versus earlier guidance of flat growth, too, spelled bad news for the rest of the IT pack. LTIMindtree was trading 2.45 percent lower at Rs 5,136.

Adani Enterprises: The stock of the Adani flagship firm slumped a day after it was reported that Abu Dhabi-based International Holding Company (IHC) had entered into a pact with a buyer to sell its stake in two Adani group companies. The stock was trading at Rs 2,431, down 1.8 percent from the previous close on the NSE.

Infosys: Extending losses for the second day, the stock reacted to Accenture’s modest revenue growth guidance for IT firms of 2-5 percent year-on-year (YoY) in constant currency terms (CC) for the fiscal year 2023-24 (FY24). The Dublin-headquartered Accenture’s 3-percent sequential decline in deal bookings in the August-ended quarter (Q4FY23) versus earlier guidance of flat growth, too, spelt bad news. The IT major was trading down 1.3 percent at Rs 1,420 .

HCL Tech: The stock, too,joined the slum in IT stocks after Accenture’s modest revenue growth guidance of 2-5 percent year-on-year (YoY) in constant currency terms (CC) for the fiscal year 2023-24 (FY24). The share was trading at Rs 1,228, down over 1 percent on the NSE.

TCS: India’s biggest IT services firm slipped on Accenture’s modest revenue growth guidance of 2-5 percent YoY in constant currency terms for the fiscal year 2023-24. TCS was down 1 percent at Rs 3,515.