Six Stocks In News At Noon: Dr. Reddy's To Bharat Electronics — Top Gainers And Losers

On Wednesday, benchmark equity indices traded near their day's low at noon, ahead of the outcome of the US Federal Open Market Committee meeting due tonight. They have fallen again after recovering from a lower opening.

The NSE Nifty 50 was trading 0.52% lower at 24,205.50, while the BSE Sensex was down 0.56% at 80,235.48 as of 12:30 p.m.

From Dr. Reddy's, Cipla Ltd., and Trent Ltd. to Bharat Electronics Ltd., Power Grid Corp. of India, and Tata Motors Ltd., here are six Nifty stocks that moved the most.

Dr. Reddy's Laboratories Ltd. is the top gainer among Nifty stocks and hit Rs 1,281, its highest level since Nov. 12. The stock resumed its rise after a one-day drop on Tuesday. The stock also contributed the most to Nifty Pharma's outperformance, against other sectoral indices.

Cipla shares also rose as investors tracked the positive sentiment in pharma stocks and turned to defensive bets amid a fall in benchmarks. It continued its gains for a fourth consecutive session, through which, it has risen 2.3%.

Trent is also among the top Nifty gainers at noon. The multibagger, which recently made its entry to the Nifty 50, is trading 130% higher year-to-date and has added nearly 600% in the last five years.

Bharat Electronics, among the top Nifty loser on Tuesday, fell for a second consecutive session to hit a low of Rs 302.85, its lowest since Nov. 27. On a year-to-date basis, it has risen 64% and in the last five years, it has added more than 800%.

Power Grid Corp. Of India is also among the stocks that fell the most among Nifty stocks. It traded 2% lower at noon after recording a 2.4% intraday fall.

Tata Motors shares fell as much as 3.7% on Wednesday to hit Rs 759.10, its lowest level since Dec. 29. It pared losses to trade 2.15% down at Rs 763. The stock has fallen for a third consecutive session, losing 14%.