Summary:
Indian markets rebounded after the previous session's sharp decline, with Kalyan Jewellers, Swiggy, and EIH emerging as the top gainers on strong business updates and expansion plans. Meanwhile, Dr Reddy's Laboratories, Page Industries, and JSW Dulux declined due to sector-specific concerns, profit booking, and weak investor sentiment.
The Indian indices were positive today after the fall witnessed the previous day due to rising geopolitical concerns in the Middle East region. But, ongoing geopolitical tensions restricted the market movement. At 10:26 AM IST, the Nifty 50 was trading up by 0.69% to 24,048.50, and the BSE Sensex was up by 0.69% to 77,028.59.
In individual stock news, Kalyan Jewellers India Ltd, Swiggy Ltd, and EIH Ltd turned out to be the top gainers, while Dr Reddy’s Laboratories Ltd, Page Industries Ltd, and JSW Dulux Ltd were the major losers.
Kalyan Jewellers Share Price Surges 16% After Strong Q1FY27 Update
One of the most prominent publicly-listed jewelry retailers in India, Kalyan Jewellers India Ltd, became one of the biggest gainers of the Nifty 500 Index. The price of the company's stock climbed 5.5% on July 08 and gained further on July 09, increasing 16%. Trading activity was notable as well.
A daily traded volume of the company's stock in NSE reached 5.9 crore shares while the 30-day average volume of transactions is estimated at 1.05 crore shares. The rally was facilitated by positive Q1FY27 business report and the performance of jewelry companies in general.
During Q1FY27, the total consolidated revenue of Kalyan Jewellers grew 38% year-over-year. Besides, there were same-store sales growth of about 28%, which signifies high consumer demand for existing stores. Recycled gold made up more than 46% of the company's revenue.
Swiggy Share Price Jumps 7% on Ownership Status and Growth Outlook
Swiggy Ltd added 7% on July 09 and continued to perform well amongst the best-performing stocks of the Nifty 500. There was a high buying demand in the stock with NSE volumes jumping up to 2.5 crore shares from the 30-day volume average of 1.3 crore shares.
The shares of Swiggy have risen by about 15% in the last four trading sessions due to positive developments regarding the ownership and growth potential of the firm.
In terms of ownership, the firm informed stock exchanges that the holdings of foreign investors had dropped to 49.76% of total paid-up equity share capital on a fully diluted basis. With this move, the firm qualified as an Indian entity as per the definition of Indian-Owned and Controlled Company under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019.
Moreover, the firm's rail food delivery operation was reported to be almost thrice that of the previous year in Q1FY27.
EIH Share Price Rallies 6% on Hotel Expansion Plans
The luxury hotel brands operator EIH Ltd witnessed a gain of 6% on July 09 due to robust trading activities. The stock registered NSE turnover of 10.2 lakh shares versus the 30-day average turnover of 2.2 lakh shares.
EIH plans to increase its total number of keys to 825 in its own hotels by 2030, beginning from the opening of the Trident Vizag in 2027 through its subsidiary firm EIH Associated Hotels. The upcoming Hebbal development project includes 7.63 lakh sq. ft. of hotel and commercial space.
The plan of the firm is to increase 24 managed hotels in 1,893 keys till 2030, mostly in India.
Dr Reddy’s Laboratories Share Price Falls 5.67% on Weak Sentiment
Shares of Dr Reddy’s Laboratories Ltd fell by 5.67% to ₹1,272.50. The stock saw a volume of 58.58 lakh shares being traded at ₹764.56 crore.
The fall was attributed to negative sentiments about the pharmaceutical industry as well as the delay in the commercial availability of its semaglutide product following some quality problems in some batches.
Page Industries and JSW Dulux Witness Selling Pressure
Page Industries Ltd, the licensee of Jockey in India, fell 3.84% to ₹39,825. The scrip had a trading volume of 37,308 shares with a market value of ₹150.16 crore. The stock had seen selling pressure along with valuation worries in premium consumption.
The JSW Dulux Ltd stock fell 3.65% to ₹2,931. It had a trading volume of 21,862 shares and market value of ₹6.49 crore. The fall was mostly driven by profit booking along with worries about competition in the paint segment.
On the whole, Kalyan Jewellers, Swiggy, and EIH stocks had topped the gainer chart based on positive business news while Dr Reddy’s Laboratories, Page Industries, and JSW Dulux stocks had been under selling pressure because of sector-wise concerns and profit booking.
