Indian markets remained under pressure amid rising geopolitical tensions and higher crude oil prices, though select stocks outperformed on company-specific developments. Nuvoco Vistas, Biocon and Adani Power led the gainers, while Thermax, Newgen Software, MRPL and CreditAccess Grameen declined.
Indian equity markets witnessed selling pressure on Tuesday as rising Middle East tensions pushed crude oil prices higher and increased inflation concerns in the world’s third-largest oil importer. The US military carried out another round of strikes against Iran, while President Donald Trump reinstated a blockade on Iranian shipping and proposed a 20% fee to protect vessels passing through the Strait of Hormuz. The uncertainty weighed on investor sentiment, with the Nifty 500 index declining 0.48% to close at 23,234.25.
Nuvoco Vistas Share Price Surges Over 10%
Nuvoco Vistas emerged as the top gainer in the Nifty 500 index, with its share price jumping over 10% on July 14. The company manufactures cement, ready-mix concrete and other building materials for infrastructure and construction sectors.
The stock witnessed strong trading activity, with NSE volume rising to 1.34 crore shares compared with the 30-day average volume of 4.55 lakh shares. The rally was supported by the company’s strong Q1FY27 financial performance.
Nuvoco Vistas reported a 9% year-on-year increase in revenue to ₹3,129 crore, supported by a 5% growth in cement volumes. EBITDA increased 7% year-on-year to ₹572 crore, while EBITDA margin stood at 18.3%. Net profit surged 20.3% year-on-year to ₹160 crore.
The company also commissioned its 2 MMTPA grinding unit at the Limla cement plant ahead of schedule. The Kutch cement plant is expected to commence operations from Q3FY27. Additionally, work has started on a bulk cement terminal at Viramgam, Gujarat, along with a dedicated railway siding, which is expected to become operational by Q2FY28.
These expansion initiatives are part of Nuvoco’s strategy to increase cement capacity to 35 MMTPA by FY28 from the current capacity of 27 MMTPA.
Biocon Share Price Rises 8%
Biocon was among the major gainers in the Nifty 500, with the stock rising 8% on July 14 amid heavy trading volumes. NSE volume increased to 2.6 crore shares compared with the 30-day average volume of 38.4 lakh shares.
The stock movement followed a large block deal, with reports suggesting that Mylan was likely planning to sell a 5.64% stake in Biocon at ₹378.5 per share. The deal activity attracted investor interest and supported buying momentum in the stock.
Adani Power Share Price Gains 6%
Adani Power gained 6% during Tuesday’s session as investor sentiment improved around Adani Group stocks. The company operates thermal power plants and supplies electricity across multiple states.
The stock moved higher after reports that Gautam Adani was directed by a US court to file a sworn affidavit by July 15, seeking dismissal of charges filed by the US Department of Justice. The stock traded with volumes of 2.72 crore shares compared with the 30-day average volume of 3.13 crore shares.
Top Losers: Thermax, Newgen Software, MRPL and CreditAccess Grameen
Thermax declined 5.82% to ₹4,392, with volumes of 2.44 lakh shares. The fall came amid broader market weakness and selling pressure in industrial and capital goods stocks, with no major company-specific negative announcement.
Newgen Software Technologies dropped 5.25% to ₹559.50, with NSE volumes of 54.9 lakh shares. The decline was driven by volatility in the IT segment and profit booking after recent gains.
MRPL declined 4.25% to ₹157.74 amid concerns over crude oil volatility and refining margins due to geopolitical tensions. The stock witnessed volumes of 48.89 lakh shares.
CreditAccess Grameen fell 4.21% to ₹1,475.40 as investors remained cautious about the microfinance sector due to asset quality challenges and credit cost concerns.
Overall, Nuvoco Vistas, Biocon and Adani Power gained on company-specific developments, while Thermax, Newgen Software, MRPL and CreditAccess Grameen faced selling pressure amid weak market sentiment and sector-specific concerns.
