Markets at Noon: Nifty and Sensex Climb Higher, IndiGo Faces Operational Challenges
Indian stock markets are bullish at midday with Nifty 50 and BSE Sensex registering gains. IndiGo is facing operational issues with flight cancellations and declining on-time performance. Lenskart reported strong quarterly results with revenue up 24% YoY. Reliance Industries received a credit rating upgrade but faced a legal setback. Other buzzing stocks include Chambal Fertilisers, Apollo Micro Systems, Lupin, Tenneco Clean Air India, Sterling And Wilson Renewable Energy, and Umiya Buildcon.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing positive momentum at midday. Both the Nifty 50 and BSE Sensex have registered gains, indicating a bullish sentiment among investors.
| Index | Current Price | Previous Close | Change | % Change |
|---|---|---|---|---|
| Nifty 50 | 26,133.40 | 26,033.75 | 99.65 | 0.38% |
| BSE Sensex | 85,561.86 | 85,265.32 | 296.54 | 0.35% |
Buzzing Stocks
IndiGo (InterGlobe Aviation Ltd)
IndiGo is facing significant operational challenges:
- On-time performance declined sharply to 8.5% on Thursday from 19.7% the previous day.
- The airline cancelled 177 flights on Friday (85 from Delhi and 92 from Hyderabad). These issues may potentially disrupt travel plans and affect the company's operations.
Lenskart Solutions Limited
Lenskart reported strong quarterly results:
- Revenue: INR 21,486.00 million (up 24% YoY)
- PAT: INR 1,130.00 million (up 50% YoY)
- Volume growth: 24% in eyewear units sold
- Added 203 new stores in India during H1 FY26
- Achieved 15% same-store growth
- EBITDA margin improved to 19.8% from 18.3% in the previous year
Reliance Industries Ltd
Mixed news for Reliance Industries:
- S&P Global Ratings upgraded the credit rating for RIL's Senior Unsecured USD Denominated Fixed Rate Notes from BBB to A- with Stable outlook.
- The Supreme Court dismissed RIL's appeal against a Rs. 30.00 lakh penalty related to the Jio-Facebook Deal disclosure in 2020.
Chambal Fertilisers and Chemicals Ltd
Promoter group increased shareholding:
- CM Airtime Promotion LLP purchased 50,000 equity shares, increasing total promoter group shareholding to 962,073 shares (0.240% of voting capital).
- Jyotsna Poddar acquired 100,000 equity shares, increasing her shareholding to 6,640,972 shares (1.66% of paid-up share capital).
Apollo Micro Systems Ltd
Apollo Micro Systems projects revenue growth of 45% to 50% CAGR over the next two years, indicating potential expansion plans.
Lupin Ltd
Positive developments for Lupin:
- Received tentative U.S. FDA approval for generic Siponimod Tablets (0.25mg, 1mg, 2mg strengths).
- Entered an exclusive licensing agreement with Valorum Biologics for biosimilar Armlupeg (pegfilgrastim-unne) in the United States.
Tenneco Clean Air India Ltd
Tenneco Clean Air India outperformed market growth:
- Q2 Value Added Revenue growth: 8.9% (vs. 5% market growth)
- H1 VAR growth: 8.2% (vs. 4% market growth)
Sterling And Wilson Renewable Energy
The Bombay High Court ordered Axis Bank to deposit 614.00 million rupees for leave to defend in a suit filed by Sterling And Wilson Renewable Energy.
Umiya Buildcon Limited
Umiya Holding Private Limited increased its shareholding in Umiya Buildcon Limited from 37.65% to 37.66% through open market purchase of 4,100 shares.
As the trading day progresses, investors will be closely watching these developments and their potential impact on the overall market sentiment.
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