Top Gainers & Losers Today: Hindalco, Vedanta, Coal India Rise; Axis Bank, Union Bank Fall

Top Gainers: Hindalco, Vedanta, Coal India Lead Gains Amid Weak Market

Hindalco Industries

Hindalco Industries, a leading aluminium and copper manufacturing company under the Aditya Birla Group, emerged as the top gainer, rising 2.84% to close at ₹891.3 compared to its previous close of ₹866.7. The stock traded in a range of ₹876 to ₹913 during the session and saw a traded volume of 63,92,188 shares. The stock was in the green, as, according to global media reports, two Middle Eastern aluminium producers, Al Taweelah smelter of Emirates Global Aluminium and Aluminium Bahrain’s (Alba) facility, faced Iranian missiles and drone attacks on March 28, 2026, and underwent substantial damage.

Vedanta Ltd

Vedanta Ltd, a diversified natural resources company with interests in metals, mining, oil and gas, and power, gained 1.91% to ₹661.8 from its previous close of ₹649.4. The stock moved between ₹652.25 and ₹678.6 during the session, with strong trading activity of over 1.24 crore shares. Vedanta has moved the Supreme Court seeking a stay on Adani Group’s resolution plan for Jaiprakash Associates, challenging NCLAT’s refusal to halt its implementation. The company argues its own bid offered higher value, raising questions over whether lenders prioritised maximum recovery under the insolvency process.

Coal India

Coal India, the country’s largest coal producer and a key player in energy supply, rose 1.49% to ₹451.7 from ₹445.05. The stock recorded a high of ₹459.4 and a low of ₹443.1, with volumes of 98,74,428 shares. Central Mine Planning & Design Institute debuted weakly below its issue price amid volatile markets and concerns over its heavy reliance on parent Coal India.

Top Losers: TMCV, Axis Bank, Union Bank Drag the Market Lower

While metal stocks showed resilience, banking and financial stocks faced significant selling pressure, contributing heavily to the decline in benchmark indices. Regulatory concerns and risk-off sentiment weighed on lenders, making them the biggest losers of the session.

Tata Motors Commercial Vehicles (TMCV)

Tata Motors’ commercial vehicle segment (TMCV), part of Tata Motors which is a leading automobile manufacturer in India, was the worst performer, plunging 7.5% to ₹395.55 from its previous close of ₹427.6. The stock traded between ₹395.2 and ₹416.1 and recorded a massive volume of 1,05,88,518 shares. There is no immediate stock-specific news driving the sharp fall, suggesting that the decline is primarily due to broader market weakness, profit booking.

Axis Bank

Axis Bank, one of India’s largest private sector banks offering a wide range of financial services, declined 4.12% to ₹1,155.50 from ₹1,205.20. The stock moved within a range of ₹1,153.9 to ₹1,188.8 and saw volumes of 64,66,783 shares. The banking stocks are down primarily due to the Reserve Bank of India (RBI)'s restriction on banks' net open forex positions to $100 million to control rupee volatility, forcing heavy arbitrage unwinding.

Union Bank of India

Union Bank of India, a public sector lender providing retail and corporate banking services, dropped 3.98% to ₹168.5 from ₹175.48. The stock touched a high of ₹173.29 and a low of ₹168.31, with volumes exceeding 1.10 crore shares. The banking stocks are down primarily due to the Reserve Bank of India (RBI)'s restriction on banks' net open forex positions to $100 million to control rupee volatility, forcing heavy arbitrage unwinding.

Market Context

The overall market environment continues to be extremely negative, with benchmark indices registering their worst monthly losses since March 2020. Soaring crude oil prices above $115 per barrel due to rising tensions in the Middle East are causing concerns of inflation.

FII selling has also continued, with a record $12.3 billion being withdrawn from the market in this month. In addition, the latest regulations affecting financial institutions are also impacting banking stocks.

In this environment, commodity-based stocks such as Hindalco, Vedanta, and Coal India are registering relatively stronger performance due to firm global prices. Banking and automobile stocks are also being impacted by the selling frenzy, which indicates a strong divergence in sectoral performance.