Top Gainers and Top Losers: Amara Raja Energy, ITI, ABB Lead Market Action on April 22

By Ventura Research Team 3 min Read Apr 22, 2026

Top gainers and losers in Indian stock market

Summary:
India’s benchmark indices were trading weak on Wednesday, where the Nifty 50 index fell 0.70% to 24,399.95, while the Sensex fell 0.84% to 78,611.08, as per 09:57 a.m. IST. The negative performance was mostly due to the IT segment, although the broad markets remained resilient as the small-cap segment gained 0.5% while the midcap stayed unchanged. Of 16 key segments, nine closed in the red zone, with IT being the worst performer, falling nearly 3%.

The defensive performance was primarily due to macro issues such as geopolitical tension due to peace talks between the US and Iran, apart from individual stock moves due to earnings and outlook.

Amara Raja Energy, one of India’s top battery manufacturers with specialization in both lead acid batteries and lithium-ion batteries, emerged as the biggest gainers of the Nifty 500 stocks with a gain of about 9 percent on April 22.

The stock saw volumes of 50.4 lakh shares, over ten times its 30 days' average volume of 5.04 lakh shares, signaling an uptrend for buying interest. The rally was driven by news from the company that suggested that they were planning to manufacture lithium-ion cells at a bulk level starting from June 2026.

This makes the company one of the top few companies of India to enter into the advanced cell manufacturing business. The company is also working on building up capacity levels to 2 gigawatt hours by 2027, with an aim towards targeting the two-wheeler EV space. Its strategy to invest up to 10,000 crore on lithium cell and pack manufacturing also helped.

Another key beneficiary among the Nifty 500 stocks was ITI, a public sector telecom equipment maker that participates in setting up communications infrastructure and offering telecom services.

It gained 8% on April 22, supported by a surge in volumes. The daily volume on the NSE soared to 2.27 crore from an average of 96.68 lakh over the past month.

One of the key contenders in the field of power equipment, automation, and electrification services is ABB India, where there was a rise of 7% in the company’s share prices on 22nd April owing to high volume.

The trading volume rose from 4.17 lakh to 7.45 lakh. The reason for this hike in volumes lies in the promising outlook of the company’s parent firm, ABB Switzerland, as orders booked in Asia rose by 26%, which exceeded all the forecasts made earlier. India emerged as the fourth-biggest market for ABB, prompting the company to allocate a whopping amount of $75 million for raising its manufacturing capacity and improving R&D.

HCLTech Leads Top Losers, Falls Over 10%

Among the many companies in India that provide various IT services such as software, consultancy, and digitalization services, HCLTech was the biggest drag in the market, being a notable loser in the Nifty 500 list.

Specifically, the share price of the company declined significantly by 10.77% to reach the level of ₹1,286.00, as compared to its closing price yesterday at ₹1,441.20. The highest level achieved in today's trading session was ₹1,358.00 and the lowest level was ₹1,286.00. In addition, more than 2.22 crore of shares worth ₹2,924.09 crore were traded in this stock.

This significant downfall occurred following a weak performance of the company in Q4 along with a revenue growth forecast of about 1–4% in FY27, which is significantly lower than the market consensus. Analysts cited reduced client discretionary spend, slower ramping up of projects, and general macroeconomic uncertainty in the IT industry as factors behind the weakness.

Transformers and Rectifiers (India) Ltd (TARIL) Falls Nearly 9%

Transformers and Rectifiers (India) Ltd, a company engaged in manufacturing power transformers and providing electrical equipment solutions, was among the major losers of the session.

The stock fell 8.97% to ₹303.40 from its previous close of ₹333.30. It traded in the range of ₹295.00 to ₹307.55 with volumes of 1.64 crore shares and a traded value of ₹498.86 crore.

There was no specific news-driven trigger identified for the decline, indicating that the fall was likely due to profit booking or broader market weakness, reflecting pure market forces.

Hexaware Technologies (HEXT) Declines Over 6%

Hexaware Technologies, an IT and digital services company specializing in automation, cloud, and AI-driven solutions, also featured among the top losers.

The stock declined 6.73% to ₹457.45 from its previous close of ₹490.45. It recorded a high of ₹484.90 and a low of ₹457.25, with relatively lower volumes of 6.08 lakh shares and a traded value of ₹28.40 crore.

No specific news or corporate development was reported behind the fall. The decline appears to be in line with the broader weakness in IT stocks following negative sentiment triggered by HCLTech’s results and outlook.

Conclusion

April 22 saw a clear case of divergence, where selected stocks saw sharp rallies supported by volume and optimism, while IT stocks saw heavy selling pressure due to poor fundamentals and cautious outlooks. Amara Raja Energy, ITI, and ABB were among the best-performing stocks, bolstered by favorable catalysts and positive investor sentiment, while HCL Technologies topped the list of worst performers, pulling down other IT stocks amid poor quarterly performance. Others like TARIL and Hexaware saw sharp falls, mainly because of market sentiments.