Auto stocks, RITES, HUDCO among buzzing shares as SENSEX jumps over 550 pts, NIFTY above 24,000

Benchmark indices, SENSEX and NIFTY50, were trading in the positive territory during the afternoon session on Wednesday, July 1, as investors focused on auto sales.

The SENSEX rallied as much as 0.82% to hit an intraday high of 77,110.08, while the NIFTY50 touched the session’s peak of 24,049.90.

At 12:53 PM, the S&P BSE SENSEX gained by 561.22 points, or 0.73%, to trade at 77,039.89. NSE’s NIFTY50 stood at 24,027.95, reflecting a 162.20-point, or 0.68% jump.

The NIFTY50 index was supported by gains in Eternal, Asian Paints, Nestle India, Hindustan Unilever, and Adani Ports, which were among the top winners.

On the other hand, the top losers were Tech Mahindra, HCL Technologies, Hindalco, HDFC Life Insurance Company, and Tata Motors PV.

Buzzing stocks on July 1: Check list

NIFTY Auto jumped as much as 1.83% to hit an intraday high of 26,965.45 on Wednesday, July 1, amid a rally in auto companies such as Mahindra & Mahindra (M&M), Maruti Suzuki, and Ashok Leyland, following sales numbers from carmakers.

Market investors are closely tracking the auto sales numbers for the month of July.

Furthermore, M&M shares surged on Wednesday as the auto major’s overall June 2026 auto sales stood at 1,06,207 vehicles, reflecting a 37% growth, including exports.

In the utility vehicle (UV) segment, M&M sold 60,393 vehicles in the domestic market, up 28% YoY, and overall, 61,504 vehicles, including exports. The domestic sales for commercial vehicles (CV) stood at 26,076, up 35%.

The NIFTY IT index declined as much as 1.13% to hit a five-year low of 26,001.80 on Wednesday, July 1.

Coforge, Tech Mahindra, HCL Technologies, MphasiS, and Tata Consultancy Services were the top losers in the sectoral index.

At the time of writing, six out of the index’s 10 constituents were trading in the red zone, while the remaining four advanced.

Shares of KPIT Technologies tanked as much as 16.7% to hit a 52-week low of ₹559.20 on the National Stock Exchange (NSE) on Wednesday, July 1, as the company, on Tuesday, post-market hours, said that it expects the financial performance for Q1 FY27 (April to June period) to be lower than expected previously, due to a sudden drop in revenues in the last few weeks.

KPIT Technologies said that there is an expected decline of nearly 1% in USD-reported revenues for Q1FY27 compared to Q1 FY26 (YoY), primarily due to sudden actions by some European OEMs triggered by their recent profit warnings/ adverse business outlook.

The operating profitability (EBITDA margin) and the net profit margin for Q1 FY27 would decline sequentially, proportionately higher than the revenue decline, since there is no window for cost optimisation during this short period, KPIT Tech added.

While the H1FY27 performance would be unsatisfactory, KPIT Tech said that the fundamentals of its business remain strong. "As we had indicated in our communications earlier, there is strong traction in the Products and Solutions business, Trucks and Off-Highway sub-vertical and US, Korea and India markets," the press release added.

The stocks of Tata Group companies, Tata Elxsi and Tata Technologies, were trading with notable cuts in the early trade on July 1.

The sell-off in Tata Elxsi and Tata Technologies appears to be a spillover effect from peer KPIT Technologies, whose weak Q1FY27 outlook dampened sentiment across the automotive engineering and ER&D space.

The negative read-across for Tata Elxsi and Tata Technologies stems from concerns over a slowdown in automotive engineering spending. KPIT Technologies attributed its weaker-than-expected Q1FY27 outlook to recent announcements by multiple European automakers, which led to a sudden drop in revenues in the last few weeks.

KPIT is considered a key player in automotive software and software-defined vehicle (SDV) solutions, making its commentary an important indicator for the sector. Hence, a weaker update from KPIT has raised concerns ahead of Q1 earnings that Tata Elxsi’s automotive business and Tata Technologies’ engineering services segment could also see slower growth or cautious commentary.

Shares of Housing & Urban Development Corporation (HUDCO) jumped as much as 3.31% to hit an intraday high of ₹211.80 apiece on the NSE, a day after reporting its business updates for the first quarter of the 2026-27 financial year (Q1 FY27).

The PSU posted a 93.15% year-on-year (YoY) surge in its loan sanctions to ₹65,485 crore in the April-June quarter of FY26, compared with ₹33,904 crore in the corresponding period of the preceding fiscal year, according to a regulatory filing dated June 30.

Its loan disbursements increased by 27.83% YoY to ₹16,377 crore during the quarter under review, as against ₹12,812 crore in the first quarter of the 2025-26 financial year (Q1 FY26).

The stock of Rane (Madras) zoomed over 9% to hit its 52-week high of ₹1,264.80 per equity share on the NSE on Wednesday, July 1, following a key business update the company shared.

The auto component company on Tuesday said it has entered into an agreement with Hindustan Composites to acquire the friction business for an enterprise value of ₹370 crore.

As part of the acquisition, which is subject to the terms of the agreement, RML also acquires the brand "COMPO", which reinforces Rane's leadership position by expanding its reach across segments, distributors, fleet operators and aftermarket channels, the Chennai-based company said.

The transaction, which remains subject to customary regulatory approvals and closing conditions, is expected to be completed by the end of the second quarter, the company said.

Nestle India shares climbed as much as 3.15% to reach the session’s peak of ₹1,449.50 per unit, following news reports, which stated that the company has reduced the grammage of its flagship Maggi noodles by 7-9% across multiple pack sizes while keeping maximum retail prices (MRPs) unchanged.

The stock of RITES soared as much as 15.8% to hit an intraday high of ₹206 on the NSE after the Navratna PSU said that it received a work order for providing consultancy services to Babasaheb Bhimrao Ambedkar University (BBAU).

RITES, in a stock exchange filing, said that it received work of project management consultancy services for planning, design and development of infrastructural facilities and other related works on the campus of Babasaheb Bhimrao Ambedkar University (BBAU) on a cost-plus PMC fee basis.

RITES has 30 months to execute the order, and the total cost of the order is pegged at ₹175.41 crore excluding goods and services tax (GST).

Shares of Cordelia Cruises operator Waterways Leisure Tourism Ltd started trading at ₹681 apiece on the NSE on Wednesday, July 1.

This reflects a discount of 15.72% against the initial public offering (IPO) issue price of ₹808 per share. On the BSE, it debuted at ₹690, down 14.60% from the issue price.

The fresh issue proceeds to the tune of ₹480.01 crore will be used for lease payments of the step-down unit Baycruise Shipping and Leasing (IFSC) Pvt Ltd. The remaining funds will be used for general corporate purposes.

Advit Jewels stock made a robust debut on the stock exchanges on July 1, 2026.

It started trading at ₹188.90 per lot, reflecting a premium of 36.88% over the IPO issue price of ₹138 per share, on the NSE. On the BSE, it was listed at ₹187, up 35.51% from the issue price.

Funds raised to the tune of ₹65 crore will be used for incremental working requirements of the company, while ₹65 crore will be allocated for repayment of certain outstanding borrowings. The remaining funds will be used for general corporate purposes.