The NSE Nifty 50 and BSE Sensex were trading at day's high around noon. The benchmark indices were 0.31% and 0.22% higher, respectively as of 12:44 p.m.
Shares of Tata Steel Ltd., JSW Steel Ltd., One Mobikwik Systems Ltd., Tanla Platforms Ltd., Vodafone Idea Ltd. and Mazagon Dock Shipbuilders Ltd. contributed to changes in the benchmark.
Tata Steel
Tata Steel Ltd.'s share price advanced during early trade on Wednesday, after the government proposed a 12% safeguard duty on certain steel imports. Tata Steel share price rose 2.94% to Rs 159.20 apiece.
JSW Steel
JSW Steel Ltd.'s share price also logged gains in early trade on Wednesday, as sentiment for the stock turned positive after proposal of safeguard duties. JSW Steel's share price rose 2.84% to Rs 1,047.00 apiece so far today.
One Mobikwik Systems
Shares of One Mobikwik Systems Ltd. rose over 15% on Wednesday, marking the second day of gains for the newly-listed fintech firm as the company's three-month share lock-up expired on Monday. Mobikwik's stock rose as much as 15.7% during early trade to Rs 344.70 apiece.
Tanla Platforms
Tanla Platforms Ltd.'s stock surged 16.83% to Rs 517.45 apiece, without any fundamental trigger. It was trading 15.73% higher at Rs 512.55 apiece as of 12:38 p.m.
Vodafone Idea
Vodafone Idea Ltd.'s share price jumped over 5% during early trade on Wednesday, after the wireless carrier launched 5G services in Mumbai. The stock also reacted to news that the company is exploring talks with satcom players to explore potential partnerships after rivals Airtel and Jio tied-up with Starlink.
Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders Ltd.'s share price rose 9.13% to Rs 2,593.40 apiece. The stock price extended winning streak to a fifth session. There's no fundamental trigger behind the stock price movement. However, the stock continued to trend in news around noon.
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