3 weeks ago
Midday stock movers: Info Edge, Gland Pharma gain; banks slide
A stock market is a place where people buy and sell small pieces of companies.
On Tuesday, the Indian stock market was mostly going down, especially banks.
One big reason was that oil got more expensive, which makes people worried.
When oil goes up, banks can have a harder time, so their prices went down.
But some companies had good news about how much money they made, and their prices went up.
A company called Info Edge made much more money than last year, so its price jumped.
Another company, Gland Pharma, also made a lot more money and its price went up a lot.
A health company called KPI Green Energy made more money from sales but still earned less overall, so investors were not happy.
Kaynes Technology went down a lot the day before, and on Tuesday it went back up a little.
Even though the market was mostly down, some companies did really well because of their reports.
Indian equities traded weak by midday Tuesday, with the Nifty near 24,440 and the BSE Sensex near 78,117, as banking stocks led losses.
The Nifty Bank index fell around 1% as crude oil moved above $88 a barrel amid renewed uncertainty over West Asia, dragging down Axis Bank, IndusInd Bank, Federal Bank, AU Small Finance Bank and Bank of Baroda.
Info Edge gained 6.48% after reporting a 50.62% year-on-year rise in consolidated net profit to Rs 445.73 crore for Q1 FY27.
Gland Pharma surged 12% after net profit rose 47% year-on-year to Rs 317 crore, with a new global CDMO partnership carrying annualised revenue potential of around $90 million to $100 million.
KPI Green Energy fell 8.2% after profit dropped 17.6% to Rs 86 crore despite 15% revenue growth, while Kaynes Technology recovered 3.6% following an 8.33% fall in the previous session.
- Who
- Info Edge, Gland Pharma, Kaynes Technology, KPI Green Energy, and several banks including Axis Bank, IndusInd Bank, Federal Bank, AU Small Finance Bank and Bank of Baroda.
- What
- The Indian stock market traded lower by midday, with notable gains in select pharma, technology and internet-linked stocks and losses across banking counters after quarterly results.
- Where
- Indian equity market, with the Nifty around 24,440 and the BSE Sensex near 78,117.
- When
- Tuesday, during midday trading.
- Why
- Quarterly results drove company-specific moves, while rising crude oil prices above $88 a barrel and renewed uncertainty over West Asia pressured banking and financial stocks.
Market Optimism
Analyst Caution
Kaynes Technology outlook after Q1 results
Market Optimism
The stock recovered 3.6% on Tuesday, and the company's revenue and EBITDA beat estimates.
Analyst Caution
Analysts remain cautious due to elevated working capital days, higher receivables and inventory, and increased depreciation and tax costs.
Key facts
- Market level
- Nifty around 24,440; BSE Sensex near 78,117
- Top midday gainer
- Gland Pharma, up 12%
- Info Edge Q1 net profit
- Rs 445.73 crore, up 50.62% YoY
- Gland Pharma Q1 net profit
- Rs 317 crore, up 47% YoY
- KPI Green Energy Q1 net profit
- Rs 86 crore, down 17.6% YoY
- Crude oil
- Above $88 a barrel
- Nifty Bank index
- Down around 1%
- Kaynes Technology midday move
- Up 3.6% after previous session's 8.33% drop
Sources
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