Top gainers and losers on Nifty today; Titan, TCS gain, Hindalco, Power Grid slip

About 1,936 shares advanced, 1,093 shares declined and 96 shares unchanged

At 12:24 hours, the Sensex was up 361.73 points or 0.55 percent at 65,587.77, while the Nifty was up 94.60 points or 0.49 percent at 19,530.70. About 1,936 shares advanced, 1,093 shares declined and 96 shares were unchanged.

Titan Company Ltd: Shares darted up nearly 2 percent to rs 3,216, becoming the leading gainer on the Nifty 50. Broking firm Motilal Oswal suggests that a strong runway for growth in the consumption space in India and robust earnings growth visibility would help help the company in the long run. 

Tata Consultancy Services Ltd: Shares rose 1.5 percent to Rs 3,589 after it won an order from the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a cloud-based unemployment insurance system that streamlines the claims process and ensures that eligible individuals receive prompt financial assistance. 

Infosys Ltd: Shares of the company were among the top gainers on the Nifty on the back of softening crude oil prices, and gradual reduction in US 10-year bond yields. At 3:30 pm, the stock closed at Rs 1,461, up 1.2 percent from the previous close on the NSE. As many as 27 lakh shares changed hands in the trading session.

Bajaj Auto Ltd: Shares of the company surged over 2 percent to Rs 5,024 in today’s session. In September, the company reported that its sales declined by 1 percent to 3,92,558 units as compared to 3,94,747 units in September 2022. 

L&T: Shares darted up over 2 percent to Rs 3,090 after its buildings and factories business bagged orders of Rs 2,500-5,000 crore. The Buildings and Factories business of Larsen & Toubro has secured multiple charges in the large category under its various business units. 

Hindalco: Shares of the company closed lower by 0.6 percent to Rs 470 after stating it will enter into a pact with the Odisha Mining Corporation for long-term supply of Bauxite ore. The company plans to secure Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda, Rayagada district, in Odisha.

Power Grid Corp Ltd: Shares dropped in today’s session with 64 lakh shares a substantial fall in volumes as over 1 crore shares changed hands on the NSE. At 3:30 pm, Power Grid closed 1.2 percent lower to Rs 196 on the NSE. Despite the drop, analysts at Jefferies are optimistic about the company’s rising market share in competitive bidding transmission projects.

NTPC: Shares of the company closed 0.55 percent lower to Rs 233. As many as 2 crore share changed hands today.

Cipla: Shares closed in red, extending losses for a third session in a row. Volumes were high compared to yesterday as 15 lakh shares changed hands in today’s session. At the close, Cipla stock closed 0.5 percent lower at Rs 1,161.

Tata Consumer Products Ltd: Shares were down in today’s session. The company announced that more price hikes are likely in the food business, but it shall measured and spread across the portfolio. At 3:30 pm, the stock was trading at Rs 861, down 0.35 percent from the previous close on the NSE.