Redington, Balkrishna Industries, and Syrma were among the top gainers in early trade after reporting strong Q1 FY27 earnings, while KPIT Technologies, Hexaware Technologies, and PCBL declined. Despite a weak broader market, robust quarterly results and heavy trading volumes supported gains in select stocks. Investors will continue to monitor earnings momentum and broader market sentiment.
The Indian stock market showed some bearish trends during the initial part of trade on Thursday, July 30, owing to the negative cues from the international markets and fresh concerns surrounding oil along with bullishness seen in the IT sector. During 10:05 am, the Sensex was trading at 77,450 level, falling by about 200 points or 0.25%, whereas the Nifty 50 Index was trading below 24,200 level, falling by 60 points or 0.25%.
As compared to the frontline indexes, the broader market was showing weaker trends. The Nifty Bank Index fell by about 0.5% due to weakness in shares of banking companies like ICICI Bank, Axis Bank and HDFC Bank. Additionally, the Nifty Midcap 100 Index and Nifty Smallcap 100 Index were declining by 0.3% to 0.4%.
Top Gainers: Redington Shares Surge 15%
The Redington, which distributes IT products, mobility solutions, and cloud services, was found to be the highest gainer amongst stocks in the Nifty 500 index. Shares of the company gained 15% on July 30, driven by a boost in its trading volumes and strong Q1FY27 earning performance. Its stock experienced an uptick in volume with over 3.82 crore shares traded on the NSE in comparison to the average of 35.96 lakh for the 30 days before.
Redington posted a 34% growth in global revenue to ₹34,966 crore. EBITDA climbed 67% to ₹751 crore, and margin expanded to 2.1%. The net profit rose 77% to ₹486 crore. The growth was backed by large enterprise wins, high PC realizations on account of memory shortages, premiumization trends, and cloud and cybersecurity offerings.
Balkrishna Industries Shares Jump 11%
Balkrishna Industries, one of the world's leading manufacturers of Off-Highway Tyres, was among the top gainers in the Nifty 500. The company's share price surged over 10% on July 30 after reporting strong Q1FY27 earnings. Trading volumes rose sharply to 18.1 lakh shares on the NSE, compared with the 30-day average of 1.47 lakh shares.
Standalone revenue from operations grew 24% YoY to ₹3,445 crore, while net profit jumped 50% to ₹432 crore. EBITDA rose 7% to ₹703 crore, with margins at 20.6%.
The company aims to achieve ₹23,000 crore in revenue by FY30 from ₹10,600 crore in FY25 and capture an 8% global Off-Highway Tyre market share. It plans to invest ₹6,800 crore through FY29, expand manufacturing capacity to 425,000 MTPA, and reduce the Off-Highway Tyre business contribution to 70% of revenue by FY30 from 90% in Q1FY27 through business diversification.
Syrma Shares Gain 7%
Electronic manufacturing services firm Syrma SGS Technology, which provides its services to industries including healthcare, automotive, and consumer electronics, witnessed a rise of 7% on July 30. The stock moved up on volume of 45.14 lakh stocks against an average daily volume of 12 lakh stocks on the back of solid Q1FY27 performance.
Revenue rose 67% YoY to ₹1,604 crore, driven by revenue growth in healthcare, automotive, and consumer divisions. EBITDA jumped 72% to ₹177 crore, while the bottom-line grew more than double, up 112% to ₹106 crore.
Top Losers: KPIT Technologies, Hexaware Technologies and PCBL
KPIT Technologies, offering solutions for automotive software & engineering, dropped 7.71% to ₹589.50. The drop was due to worries about low profitability and a decline of 32% year-on-year in net profit during Q1FY27 to ₹117 crore. The investor sentiments were cautious with slow pace of investment in automotive technologies and poor outlook.
Hexaware Technologies, a company providing IT services & digital transformation, fell 7.46% to ₹572.15. There didn’t seem to be any fresh trigger specific to the company that could cause such a move; however, it seems that it was market pressure and some profit booking. The fall is mainly driven by market action.
PCBL, a maker of carbon black & specialty chemicals, fell 7.30% to ₹339. The stock price fell even when there have been some recent good signals like strong earnings momentum, reflecting profit booking following an advance previously. The fall was mainly driven by market-wide selling pressure.
In general, Redington, Balkrishna Industries and Syrma witnessed strong buying activity driven by earnings momentum; on the other hand, KPIT Technologies, Hexaware Technologies and PCBL witnessed some selling pressures due to cautious market sentiments.
