Indian markets traded higher, led by stock-specific movements. Ola Electric shares jumped 10% after its promoter pledge was reduced to zero. ICICI Prudential AMC debuted strongly, soaring over 20%.
Indian equity markets traded with a steady upward bias on the final trading day of the week, even as investors remained selective. By midday, the Nifty 50 was up about 0.5%, hovering near 25,930, while the Sensex gained a similar 0.5% to trade around 84,880.
Rather than broad-based buying, the session was driven by sharp, stock-specific action. Promoter decisions, legal relief, fundraising announcements, acquisitions, and operational updates dictated price movements across several key counters.
Ola Electric Mobility surges as promoter pledge drops to zero
Shares of Ola Electric Mobility jumped 10% and hit the upper circuit after the company provided clarity on promoter-level transactions. The company said the founder has completed a limited stake monetisation exercise, which helped fully repay a Rs 260 crore loan. With all pledged shares released, promoter pledge now stands at zero.
ICICI Prudential AMC shines on strong stock market debut
ICICI Prudential AMC made an impressive debut on the bourses, with its share price soaring over 20% above the IPO issue price. Although the public issue was entirely an offer-for-sale and did not bring fresh funds into the company, strong investor demand ensured healthy listing gains for allottees.
Vodafone Idea gains on Rs 3,300 crore fund raise
Vodafone Idea shares rose around 3.5% after its infrastructure arm announced the raising of Rs 3,300 crore through non-convertible debentures. The telecom operator said the funds will be used to meet payment obligations to the parent company and support ongoing capital expenditure plans.
Reliance Industries climbs on FMCG acquisition
Reliance Industries shares advanced nearly 2%, placing the stock among the top gainers on the Nifty index. The rally followed news that Reliance Consumer Products has acquired a majority stake in Udhaiyams Agro Foods, strengthening its footprint in the regional staples segment and expanding its FMCG portfolio.
HCL Technologies slips as market weighs acquisition impact
HCL Technologies shares edged lower by about 1.2% after the company announced the acquisition of Hewlett Packard Enterprise’s Telco Solutions Business for $160 million, including performance-linked incentives. The muted reaction suggested investors are assessing the long-term strategic value of the deal rather than reacting immediately.
BLS International rallies after court relief
BLS International Services shares jumped more than 4% after the Delhi High Court set aside the Ministry of External Affairs’ debarment order against the company. The ruling quashed the two-year ban on the company’s participation in MEA tenders, offering significant relief to the stock.
Shree Cement dips on plant lockout concerns
Shree Cement shares slipped around 1% after the company disclosed a lockout at its Baloda Bazar plant in Chhattisgarh due to non-cooperation by workers. The company said it is closely monitoring the situation and will update investors as developments unfold.