In Wednesday's market update the key movers included Adani Wilmar Ltd. making a strong recovery after a sharp decline a day before, while Paytm's parent company, One97 Communications Ltd., saw its shares dip following regulatory decision. Here's a look at the top gainers and losers shaping the market on January 1, 2025.
Here are six gainers and losers in news on Tuesday:
Adani Wilmar ⬆️
Shares of Adani Wilmar Ltd. bounced back on Wednesday, recovering from Tuesday's sharp decline. The stock rose as much as 5.47% and later pared gains to trade at 5.24% at Rs 324.45. The decline in the share price came after billionaire Gautam Adani's flagship company announced a $2 billion exit from its joint venture by divesting its entire 44% stake.
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ITC ⬆️
Shares of ITC Ltd. were trading in green as Jan. 1 marks the effective date for the demerger of ITC Hotels. The stock was up 0.66% on Wednesday. Shares of ITC Ltd will trade ex-date for the hotels business demerger on Jan. 6, 2025. ITC will determine which shareholders are eligible to receive ITC Hotels shares, which are expected to be listed on stock exchanges within a month. The demerger ratio is set at 1:10, meaning shareholders will receive one ITC Hotels share for every 10 ITC shares they hold, provided they are eligible.
Ola Electric Mobility ⬇️
Ola Electric Mobility's share price dropped as much as 0.56% on Jan. 1 after retail sales data from the VAHAN portal revealed that Bajaj Auto has overtaken Ola Electric to claim the highest market share at 25%. This marks a 3% increase from the previous month, allowing the Rajiv Bajaj-led company to take the lead in the EV sales race. In contrast, Ola Electric, led by Bhavish Aggarwal, saw its market share decline by 5%, dropping to 19%.
Paytm ⬇️
Shares of Paytm's parent company, One97 Communications Ltd., fell 4.08% to Rs 967.3 per share on the National Stock Exchange on Wednesday. The drop followed a National Payments Corporation of India announcement declaring an extension of the deadline to implement the transaction volume cap on Unified Payments Interface apps. now set for Dec. 31, 2026.
SJVN ⬆️
SJVN Ltd. shares gained as much as 5.68% in the first trading session of 2025 after the company signed a memorandum of understanding with the Bihar government to develop a 1,000-megawatt pumped storage project. The Hathidah Durgawati PSP project is expected to generate direct and indirect employment for 5,000 people, with an investment of Rs 10,000 crore.
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