The NSE Nifty 50 and BSE Sensex opened lower on Tuesday. The Nifty 50 opened 0.51% lower at 22,345.95 and the Sensex opened 0.50% down at 73,743.88.
ICICI Bank Ltd., Bharti Airtel Ltd. and Sun Pharmaceutical Industries Ltd. gained the most in the Nifty 50, while IndusInd Bank Ltd. was dragging the index the most. Infosys Ltd., HEG and Adani Ports were also among the buzzing stocks in trade around midday.
IndusInd Bank
IndusInd Bank Ltd.'s share price fell 20% during early trade on Tuesday, to go below the lower band on the NSE, after the lender identified accounting discrepancies of 2.35% of its net worth as of December 2024 in its derivatives portfolio during an internal review.
The lender's share price declined 26.03% to Rs 667.15 apiece, wiping off over Rs 14,000 crore in market value. It hit its lowest level since November 2020.
(Photo: Vijay Sartape/NDTV Profit)
Infosys
Shares of Infosys Ltd. fell about 3.71% during trade on Tuesday. Analysts believe that the change of FII flows into the non-US markets puts the IT sector in the frontline of impact.
The stock was the top dragger of the Nifty 50 at midday, while IndusInd closely followed. The stock is currently trading 2.69% lower at Rs 1,654.3.
(Image source: Unsplash)
HEG Ltd
The company's Singularity Fund is set to invest Rs 250 crore in Bhilwara Energy, with an option to invest an additional Rs 250 crore.
The stock rose as much as 7.62% to Rs 417.3 apiece. The scrip is currently trading 5.08% higher at Rs 407.5.
(Photo: HEG website)
Adani Ports & Special Economic Zones
Macquarie initiated coverage on Adani Ports & Special Economic Zone Ltd. with an 'outperform' rating, on the back of healthy cash flows and optimal positioning in the space.
The stock rose as much as 0.74% during trade on Tuesday so far. The counter was currently trading 0.26% higher at Rs 1,140.5 around midday.
(Photo source: Adani Ports and SEZ)
Gensol Engineering
Gensol Engineering Ltd. hit the lower circuit for the second consecutive day on Tuesday, after the promoters infused Rs 28 crore in the firm through the conversion of warrants into equity.
The stock on Tuesday was locked in the lower circuit of 5% at Rs 290.55 per share during trade. The stock is currently trading 4.99% lower at Rs 290.55.
(Photo source: Gensol Engineering)
National Mineral Development Corp
Analysts have cut the target price of iron ore miner NMDC by 10% so far this year. Similar cuts have also been made to the company's revenue and Ebitda estimates for financial year 2026. Factors like lower volume, mineral taxes and increased competitive intensity are reasons for the price cuts.
The stock fell about 2.94% during trade on Tuesday and is currently trading 1.37% lower, compared to a 0.01% advance in the Nifty 50.
(Source: NMDC website)
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