Stocks In News At Noon: Dabur, Vodafone Idea, Bajaj Auto Among Others
The NSE Nifty 50 was down 0.32% at 23,256.95 and the S&P BSE Sensex was 0.41% lower at 76,305.16 as of 12:47 p.m.
The benchmark indices were trading lower on Thursday after US President Donald Trump announced a series of reciprocal tariff, with India facing a 27% levy.
The NSE Nifty 50 was down 0.32% at 23,256.95 and the S&P BSE Sensex was 0.41% lower at 76,305.16 as of 12:47 p.m.
Several stocks have witnessed major movement so far in the day. Here are the key stocks making headlines at noon.
Dabur India
Dabur India Ltd.'s share price hit an over four-year low, falling more than 7%. This decline follows a Nuvama note that highlighted continued weakness in the company's domestic performance.
Nuvama's assessment of Dabur's fourth-quarter business update painted a lackluster picture of the company's financial health, leading to the sharp drop in share price.
Vodafone Idea
Shares of Vodafone Idea Ltd. fell nearly 2% as investors began profit booking. This decline comes after the shares rose nearly 26% on Tuesday, hitting an over one-month high.
The earlier surge was driven by the government's announcement that it would acquire more stake in the debt-laden telecom operator in lieu of spectrum auction dues.
Bajaj Auto
NSE Nifty Auto index stocks fell on Thursday after United States President Donald Trump imposed a 25% tariff on foreign automakers.
Bajaj Auto was the most affected, with its share price declining 2.89%. The new tariffs have raised concerns about the impact on the auto sector's exports to the US.
Ipca Lab
The NSE Nifty Pharma index rose on Thursday, hitting an over one-month high, driven by relief across the sector as it was excluded from US President Donald Trump's new tariffs.
Ipca Lab Ltd. was the top gainer, with its share price surging by 5.23%. The exclusion from tariffs has provided a positive outlook for the pharmaceutical sector.
Persistent Systems
Persistent Systems saw a significant decline, losing over 9% intraday as volumes surged to twice the 30-day daily moving average. The fall came after Trump imposed a 27% tariff on India.
The IT sector's fortunes are highly linked to the US macro environment, as discretionary spending by American companies drives IT services demand. A projected slowdown or recession in the US could impact Indian software exporters, contributing to the decline in Persistent Systems' share price.
