Six Stocks In Focus At Noon: Mahanagar Gas, Gensol, Ireda, And Others

On the second trading session of a curtailed week with only three trading session due to multiple market holidays, the Sensex and Nifty were trading largely flat. Among the market moving stocks are those that have reported their earnings such as Ireda and those that are expecting earnings such as HDFC Bank. Here’s a look at six stocks that are in the news at noon.

Mahanagar Gas Ltd. experienced a sharp decline in its share price, falling over 6% on Wednesday. This drop followed the government's decision to reduce the allocation of cheaper domestically produced Administrative Price Mechanism natural gas to city gas distribution companies.

Gensol Engineering Ltd.'s share price plummeted to an all-time low on Wednesday, hitting the 5% lower circuit limit. This decline came after the Securities and Exchange Board of India barred the company's promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, due to allegations of fund diversion and record falsification.

Shares of Indian Renewable Energy Development Agency Ltd. surged by 7.50% following the release of its earnings report for the quarter ended March 31, 2025. The non-banking financial company reported a consolidated net profit of Rs 502 crore, marking a 48.7% increase from Rs 337 crore in the same period last year.

IndusInd Bank Ltd.'s share price rose by 2.46% after an external report revealed a financial impact of Rs 1,979 crore due to derivative accounting discrepancies. This amount represents 2.27% of the bank's net worth as of December 31, 2024, lower than the internal review estimate.

HDFC Bank's share price reached an all-time high on Wednesday, trading 1.01% higher at Rs 1,883.80. This rally marks the third consecutive session of gains for the bank's stock, driven by investor optimism ahead of its upcoming earnings report.

Wipro Ltd.'s shares were trading lower ahead of the March quarter results scheduled for later in the day. The stock fell by as much as 1.15% to Rs 241.20 per share. Bloomberg consensus estimates suggest the company is expected to report a net profit of Rs 3,364 crore.