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

After Nifty and Sensex saw big swings in the early trade—from 0.5% jump to 0.6% decline—they traded with little losses at noon with Axis Bank Ltd. stock weighing the most.

At 12:04 p.m., Nifty was 0.1% down at 23,931.8 points and Sensex was 0.2% lower at 79,076.28.

From Dr. Reddy's Labs, Hindalco Industries Ltd., and JSW Steel Ltd. to Axis Bank and Tech Mahindra Ltd, here are the stocks that moved the most.

Dr. Reddy's share price extended gains to a third consecutive session and hit Rs 1,368.70, its highest level since Sept. 5 and is the top Nifty gainer. On Thursday, Dr. Reddy's Laboratories share price had risen after Nomura upgraded the stock to a 'buy' rating from 'neutral', as it sees favourable risk-reward for the firm.

Hindalco Industries is the second most gainer among Nifty stocks as it snapped its six-session fall. It had fallen over 6% in the fall. Nifty Metal was the top performing sector on the NSE and Hindalco contributed the most to its rise.

JSW Steel also followed rally in most metal stocks and rose the third most among Nifty stocks. It also snapped its five-session fall after hitting Rs 912.05, its lowest level since Oct. 28.

Axis Bank was the top loser on the Nifty and was the stock which dragged the index the most. It fell for a fourth consecutive session to hit Rs 1,078.15, its lowest level since April 24.

Tech Mahindra shares fell the second-most among Nifty stocks, extending fall to a second session. Recently, Citi retained a 'sell' rating on the stock and a target price of Rs 1,475 apiece.

UltraTech Cement fell for a fifth consecutive session and was among the top Nifty losers on Friday. The stock started its fall on Dec. 16, when it had hit its lifetime high of Rs 12,145.35.