Top Nifty gainers and losers: Infosys, BPCL in green, IndusInd, M&M fall

Frontline equity indices traded flat in a range-bound movement while small-cap stocks shed gains. The markets echoed the lacklustre sentiment from Wall Street, which snapped its five-day winning streak overnight. At 12:25, Sensex was down 235.65 points or 0.36 percent at 65,695.12, and the Nifty was down 66.60 points or 0.34 percent at 19,716.80. About 1242 shares advanced, 1860 shares declined, and 104 shares were unchanged.

BPCL Ltd: Shares of the petroleum major rose 3.69 percent to Rs 402 on November 22, a day after it fell over 1 percent. Volumes were high as 75 lakh shares changed hands as against the 1-week average of 54 lakh shares on the bourses.

NTPC Ltd; Shares of the public sector undertaking rose over a percent to Rs 254, snapping its four-day losing streak on the bourses. Volumes were low as 54 lack shares changed hands as against the 1-week average of 1 crore shares.

Cipla Ltd: Shares of the pharmaceutical major rose nearly 2 percent to Rs 1,270 on November 22, rallying for the second day in a row. The company recently received a warning letter from the United States Food and Drug Administration (US FDA) for the routine current Good Manufacturing Practices (cGMP) inspection conducted at its Pithampur manufacturing facility from February 6 to 17, 2023.

Infosys Ltd: Shares of one of India’s leading IT players rose 1.3 percent to Rs 1,437 on November 22, extending gains for the second day in a row. About 33 lakh shares changed hands as against the 1-week average of 58 lakh shares. 

Apollo Hospitals Enterprises Ltd: Shares of the healthcare major rose to Rs 5,534, up 1.2 percent from the previous close on the NSE, snapping its two-day losing streak on the bourses.

Adani Enterprises Ltd: Shares of the flagship Adani firm declined over a percent to Rs 2,172, a day after it surged over 2 percent. The drop comes after investors rushed to book profits. Recently, its subsidiary incorporated a wholly-owned subsidiary in Macau. The company has been incorporated for bidding for duty-free liquor and tobacco shops at Macau International Airport.

IndusInd Bank Ltd: Shares of the company fell 2.2 percenet to Rs 1,469 on November 22. In response to recent media speculation, IndusInd Bank’s promoters have denied claims of raising funds by pledging their stake in the bank. The controversy stemmed from a Business Standard article titled “Hindujas raise Rs 8000 crores by pledging IndusInd stake,” which the lender labelled as “malicious and factually incorrect.”

Kotak Mahindra Bank Ltd: Shares of the private lender tanked over a percent to Rs 1,744 on November 22. Recently, the Maharashtra GST department slapped a penalty of around Rs 35 lakh. The authorities alleged an excess claim of GST credit and non-payment of GST under reverse charge in certain instances during the assessment period from July 2017–March 2018.

Mahindra and Mahindra Ltd: Shares of the tractor and automobile major fell 1.1 percent to Rs 1,542. Volumes were low as 6 lakh shares changed hands as against the 1-week average of 28 lakh shares on the exchanges.

Hindalco Ltd: Shares of the copper and aluminium major fell over a percent to 500 on November 22, a day after it gained 2 percent on the exchanges.