Indian benchmark indices traded higher on Friday, July 17, supported by buying interest in IT and financial stocks after positive quarterly updates from companies including Tech Mahindra and Jio Financial Services. Heavyweight stocks such as Reliance Industries, HDFC Bank and ICICI Bank also gained as investors tracked upcoming earnings announcements. At 10:45 AM IST, the Nifty 50 was up 0.74% at 24,253.5, while the BSE Sensex advanced 0.90% to 77,885.16.
Among broader market stocks, Afcons Infrastructure, Jio Financial Services and 360 One WAM emerged as the top gainers, while CEAT, Vijaya Diagnostic Centre and PWL witnessed selling pressure.
Afcons Infrastructure Shares Surge Over 5% on Debt Fundraising Update
Afcons Infrastructure Ltd, a Shapoorji Pallonji Group company, is engaged in infrastructure construction projects across transportation, marine works, urban infrastructure and industrial developments.
Shares of Afcons Infrastructure surged more than 5% on July 17, emerging as one of the top gainers in the Nifty 500 index. The stock witnessed strong buying interest, supported by heavy trading activity. Trading volume increased to 1.2 crore shares compared with the 30-day average volume of 13.4 lakh shares.
The rally came after reports that the Shapoorji Pallonji Group raised $650 million through a three-year dollar-denominated debt issue at a yield of 14.5%. The fundraising is part of the group’s broader debt refinancing strategy to manage existing liabilities. The company is reportedly targeting around ₹25,500 crore through multiple initiatives.
Jio Financial Services Gains 5% After Strong Q1FY27 Results
Jio Financial Services Ltd, a Reliance Group company, provides financial services including lending, payments, insurance, investment management and asset management solutions.
The company’s shares gained around 5% on July 17 after reporting strong Q1FY27 financial performance. The stock also witnessed heavy trading activity, with nearly 6.5 crore shares changing hands compared with the 30-day average volume of 1.29 crore shares.
Jio Financial Services reported a 141% year-on-year increase in total income to ₹1,496 crore during Q1FY27. Interest income increased 165%, while fees and commission income jumped 506%. Pre-provisioning operating profit rose 38% to ₹505 crore, while net profit surged 156% year-on-year to ₹830 crore.
Strong performance across lending, payments and other financial services businesses improved investor sentiment and supported the stock rally.
360 One WAM Shares Rise 4% on Earnings Growth
360 One WAM Ltd, a wealth management company providing investment advisory, portfolio management and wealth solutions, gained 4% on July 17 after reporting healthy Q1FY27 earnings.
The stock recorded strong participation, with trading volume reaching 24.6 lakh shares compared with the 30-day average volume of 12.3 lakh shares.
As of June 30, 2026, the company’s assets under management stood at ₹7.77 lakh crore. Revenue increased 20% year-on-year to ₹870 crore, operating profit before tax grew 21% to ₹376 crore, while net profit rose 14.8% to ₹330 crore.
CEAT Shares Fall 7.55% After Profit Decline
CEAT Ltd, one of India’s leading tyre manufacturers, declined 7.55% to ₹3,540.50 after weak Q1FY27 results. The company reported a sharp 96% year-on-year fall in net profit to ₹4 crore due to margin pressure from higher raw material costs.
Despite revenue growth, concerns over profitability and input cost pressures led to selling in the stock.
Vijaya Diagnostic Centre and PWL Shares Decline
Shares of Vijaya Diagnostic Centre Ltd dropped 6.43% to ₹1,321.70. The company operates diagnostic centres offering pathology testing, imaging services and preventive healthcare solutions. The decline appeared to be driven by market-based selling, with no major company-specific negative update reported.
PWL Ltd shares fell 5.43% to ₹127.95 on July 17. The stock recorded trading volume of 40.83 lakh shares. No specific negative trigger was identified, indicating that the decline was largely due to market sentiment and profit booking.
Overall, Afcons Infrastructure, Jio Financial Services and 360 One WAM gained on corporate developments and strong earnings, while CEAT, Vijaya Diagnostic Centre and PWL faced selling pressure.
