JP Power, Adani Total Gas, Siemens Energy India Lead Gainers; Techno Electric, FirstCry, GE Shipping Drag

Indian equity benchmarks traded on a muted note on Wednesday as investors remained cautious over the fragile ceasefire between the United States and Iran and fears of further escalation in the Middle East conflict. The benchmark Nifty 50 rose 0.08% to 23,937.90, while the BSE Sensex gained 0.11% to 76,094.41 in early trade. Despite the flat movement on the indices, several Nifty 500 stocks witnessed sharp price action backed by corporate developments, earnings momentum and heavy trading volumes.

JP Power Surges After Adani Deal

Jaiprakash Power Ventures, popularly known as JP Power, emerged as one of the top gainers in the Nifty 500 index with the stock rallying nearly 18%. The company, which operates thermal and hydropower projects in India, saw strong buying interest along with a major jump in trading volumes. Around 55.24 crore shares were traded on the NSE compared with the 30-day average of 15.39 crore shares.

The rally came after Jaiprakash Associates agreed to transfer a 24% stake in JP Power to Adani Power for ₹2,994 crore. Investors reacted positively to the development, expecting stronger financial backing and operational support from the Adani Group. The transaction also boosted sentiment around the company’s future growth prospects.

Adani Total Gas Extends Winning Run

Adani Total Gas was another major gainer, with the stock rising around 8% and extending gains for the fifth straight trading session. The company is engaged in city gas distribution and supplies compressed natural gas and piped natural gas across multiple Indian cities. Trading activity remained strong, with NSE volumes rising to 1.77 crore shares against the 30-day average of 44.33 lakh shares.

Investor sentiment improved sharply after reports that the US Department of Justice dropped criminal fraud charges against Gautam Adani and other officials. The company’s Q4FY26 earnings also supported the rally. Revenue increased 16% year-on-year to ₹1,549 crore, while net profit rose 5% to ₹156 crore.

Siemens Energy India Gains on Strong Earnings

Siemens Energy India also featured among the top gainers, climbing nearly 7%. The company manufactures power transmission and energy equipment and benefits from rising investments in India’s energy infrastructure sector.

The rally followed robust Q4FY26 earnings. Revenue jumped 27% year-on-year to ₹2,394 crore, while net profit surged 52% to ₹375 crore. Improved operating leverage, healthy order execution and higher export contribution supported profitability. The company ended the first half of FY26 with a strong order backlog of ₹18,433 crore.

Techno Electric Slides Amid Profit Booking

On the losing side, Techno Electric & Engineering Company fell nearly 7% to ₹1,117.70. The company operates in power infrastructure and engineering services. No major corporate trigger was reported, indicating the decline was largely due to profit booking and broader market weakness.

FirstCry Shares Remain Under Pressure

Brainbees Solutions, which operates the FirstCry platform for baby and mother care products, declined around 6%. Weak sentiment in new-age technology stocks and continued selling pressure weighed on the counter.

GE Shipping Drops Over 5%

Great Eastern Shipping Company, India’s leading private shipping company, slipped over 5%. The fall appeared linked to weakness in shipping-related stocks and uncertainty surrounding global trade and freight demand.