Firstsource Solutions, Paradeep Phosphates and Jupiter Wagons led the gainers on July 29, supported by IT momentum, strong Q1 results and buying in railway stocks. Meanwhile, Man Infraconstruction, Finbud Financial and Vivid Mercantile declined amid selling pressure and profit booking.
The Indian equity markets were bullish throughout the Wednesday morning session due to some buying activity in large-cap and broader market stocks. The Sensex was trading at 77,568.78, up by 802.86 points or 1.04%. Meanwhile, the Nifty 50 was trading at 24,214.80, up by 229.46 points or 0.96% as of 10:10 AM.
In spite of geopolitical concerns and the rise in the price of crude oil, investor participation increased in the stock markets, thereby boosting the performance of the equity markets. The broader market witnessed some positive movements as well, with Nifty Bank being up by 352.25 points or 0.62% at 57,107.85. Moreover, Nifty Midcap 100 was up by 410.91 points or 0.66% at 62,762.40 and Nifty Smallcap 100 was up by 149.6
Firstsource Solutions Share Price Rises 12% on IT Sector Momentum
Firstsource Solutions was seen among the best performers in Nifty 500, as the price of the stock went up by 12% on July 29. Trading volumes increased, as volumes touched 2.16 crore against an average daily trading volume of 12.45 lakh for the previous 30 days.
Firstsource Solutions offers services for business process management, which include customer lifecycle management, health care solutions, banking and financial services, and technology outsourcing services.
The surge in the stock price was mainly attributed to the momentum seen in the IT sector, as the Nifty IT index saw an increase of around 2.5% during the trading session. Investor sentiment was upbeat before the results for the quarter ended June 2026 were to be announced on August 6. There was no particular announcement related to the company seen behind this move.
Paradeep Phosphates Share Price Jumps 11% After Strong Q1FY27 Results
Paradeep Phosphates stocks rallied 11% on July 29 due to healthy trading volumes. Paradeep Phosphates registered a total NSE trading volume of more than 6.2 crore shares, which is around ten times its 30-day average trading volume of 44.6 lakh shares.
Paradeep Phosphates is one of the leading phosphatic fertilizer producers in India that manufactures DAP, NPK fertilizers, and other agricultural input products.
The stock price increased after the company released its robust Q1FY27 results. The revenue was up 36% to ₹6,124 crore due to 4% increase in volume. The company posted a 24% growth in EBITDA of ₹764 crore, while margins were up to 12.5%. Net profit increased 24% to ₹393 crore.
It is increasing phosphoric acid capacity from 5,00,000 MTPA to 7,00,000 MTPA. It also plans to invest ₹250 crore for setting up an Aluminum Fluoride (AlF3) plant.
Jupiter Wagons Share Price Gains Over 8% on Strong Buying
Shares of Jupiter Wagons rallied by more than 8% on July 29 amid a spike in trading volume to 84.2 lakh against the average 30-day trading volume of 10.25 lakh.
The surge in share price is attributed to the high demand for the shares along with volumes and good sentiment towards rail infrastructure companies. There were no announcements from the company side in terms of new news about the rally.
Top Losers: Man Infraconstruction, Finbud Financial and Vivid Mercantile Decline
The stock of Man Infraconstruction was down by 7.14% to ₹50.05 with its share price at the lower circuit level; the number of shares traded were 4,000. This firm operates in real estate and infrastructure construction sector. There was no significant negative news announced.
Shares of Finbud Financial declined by 5.16% to ₹129.50; number of shares traded were 24,000. The decline can be attributed to profit booking and market reasons, without any significant negative news.
Shares of Vivid Mercantile fell by 5% to ₹1,191.30; number of shares traded were 13,200. This firm is engaged in trading & investments. Decline can be attributed to market forces without any significant negative news from company's side.
Market on Wednesday was overall positive; IT, fertiliser and railways were among the top gainers whereas some select small-cap stocks saw selling pressure.
