Top Nifty gainers and losers at mid-day: Adan Enterprises, Hindalco gain; BPCL, ONGC tumble

Indian equity indices traded higher as US Treasury yields slipped under 4.5 percent, with the Nifty and the Sensex mirroring the positive trend in the American market, even as participants awaited the release of the minutes of the latest FOMC meeting for cues to the interest rate outlook. At 12.17 pm, the Sensex was up 318.13 points, or 0.48 percent, at 65,973.28, and the Nifty was up 99.70 points, or 0.51 percent, at 19,793.70. About 1,896 shares advanced, 1,268 declined and 91 were unchanged.

Adani Enterprises Ltd: Shares of the flagship Adani firm rose over 3.5 percent to Rs 2,226 after its step-down subsidiary, Mumbai Travel Retail Pvt, incorporated its wholly-owned subsidiary, MTRPL Macau. According to Adani Enterprises’ regulatory filing, the company has been incorporated for bidding for duty-free liquor and tobacco shops at Macau International Airport.

SBI Life Insurance Company Ltd: Shares of the insurance player rose over 2 percent to Rs 1,420 on November 21, a day after the stock declined nearly 2 percent. As many as 11 lakh shares changed hands, outpacing the one-month average of 10 lakh shares.

Hindalco Ltd: Shares of the copper and aluminium manufacturer surged 2.4 percent to Rs 509, snapping its three-day gaining streak. About 39 lakh shares changed hands against the one-month average of 53 lakh shares.

JSW Steel Ltd: Shares of one of India’s leading steel players rose 2.2 percent to Rs 777, snapping a three-days losing streak. Volumes were low as 9 lakh shares changed hands as against the one-week average of 18 lakh shares.

HDFC Life Insurance Company Ltd: Shares of the company gained over 2 percent to Rs 665, rallying for the third consecutive session. The company recently inked an agreement with Karnataka Bank for selling HDFC life insurance covers.

Coal India Ltd: Shares of the PSU stock tanked nearly 5 percent to Rs 331, becoming the top loser on the index. The drop came after the state-run miner traded ex-dividend. The board of directors declared the first interim dividend for the current financial year at Rs 15.25 per equity share with a face value of Rs 10 (152.5 percent). The date of payment for the dividend shall be December 9.

ONGC Ltd: The petroleum major fell over 3 percent to Rs 191, a day after it gained nearly a percent. The decline can be attributed to the stock trading ex-dividend from November 21. As many as 49 lakh shares changed hands as against the 1-week average of 2 crore shares.

Tech Mahindra Ltd: The IT player fell 0.7 percent to Rs 1,201 on November 21. Recently, the company entered into a collaboration deed with NEOM Tech and Digital Company, known as TONOMUS. It announced a significant collaboration with NEOM Tech through its material subsidiary Tech Mahindra (Americas) Inc. The two companies will incorporate a joint venture, focused on technology and digital services.

NTPC Ltd: The PSU stock fell 0.6 percent to Rs 249, slumping for the third day in a row. Volumes were low as 36 lakh shares changed hands as against the one-week average of 1 crore shares.

BPCL Ltd: The share fell 0.8 percent to Rs 389 on November 21. As many as 11 lakh shares changed hands as against the one-week average of 61 lakh shares.