Top gainers and losers on Nifty at mid-day; Titan, TCS gain, Coal India, Divi’s Lab slip

At 12:24 hours, the Sensex was up 361.73 points or 0.55 percent at 65,587.77, while the Nifty was up 94.60 points or 0.49 percent at 19,530.70. About 1,936 shares advanced, 1,093 shares declined and 96 shares were unchanged.

Titan Company Ltd: Shares darted up nearly 2 percent becoming the leading gainer on the Nifty 50. Broking firm Motilal Oswal suggests that a strong runway for growth in the consumption space in India and robust earnings growth visibility would help help the company in the long run. At 12:24 pm, shares were trading 1.6 percent higher to Rs 3,216 on the NSE.

Tata Consultancy Services Ltd: Shares rose after it won an order from the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a cloud-based unemployment insurance system that streamlines the claims process and ensures that eligible individuals receive prompt financial assistance. At 12:24 pm, shares were trading at Rs 3,586, up 1.4 percent on the NSE.

Infosys Ltd: Shares of the company were among the top gainers on the Nifty on the back of softening crude oil prices, and gradual reduction in US 10-year bond yields. At 12.24 pm, the stock was trading at Rs 1,457, up 1 percent from the previous close on the NSE. As many as 27 lakh shares changed hands in the trading session.

Kotak Mahindra Ltd: Shares of the lender traded higher, snapping its two-day losing streak. A total of over 18 lakh shares changed hands in today’s session. At 12:24 pm, shares of Kotak were trading at Rs 1,741, higher by 1.26 percent on the NSE.

HDFC Bank Ltd: Shares of the bank traded in the green, extending gains for the second day in a row on the bourses. The country’s largest private sector bank said that it reported a robust 57.7 percent increase in advances, growing to Rs 23.54 lakh crore from Rs 14.93 lakh crore last year. At 12:24 pm, shares were trading 1 percent higher to Rs 1,544.

Coal India Ltd: Shares of the public sector unit tanked over 1 percent and became the biggest loser on the Nifty. At 12:24 pm, the shares were down 1 percent to Rs 285 on the NSE with about 30 lakh shares changing hands in today’s session.

Power Grid Corp Ltd: Shares dropped in today’s session with 64 lakh shares a substantial fall in volumes as over 1 crore shares changed hands on the NSE. At 12:24 pm, Power Grid was down 1.5 percent to Rs 196 on the NSE. Despite the drop, analysts at Jefferies are optimistic about the company’s rising market share in competitive bidding transmission projects.

Divi’s Laboratories Ltd: Shares of the company dropped after borking firm Bernstein initiated coverage with an underperform rating citing that the company is shifting its mix towards less attractive generics. At 12:24 pm, the stock was down 1 percent to Rs 3,675 on the NSE.

Sun Pharmaceuticals Ltd: Shares of the pharma major were down 0.5 percent to Rs Rs 1,178 at mid-day. Trading volumes were lower today as only 11 lakh shares changed hands as against the 19 lakh recorded during yesterday’s session.

Tata Consumer Products Ltd: Shares were down in today’s session. The company announced that more price hikes are likely in the food business, but it shall measured and spread across the portfolio. At 12:24 pm, the stock was trading at Rs 858, down 0.75 percent from the previous close on the NSE.