Cipla, Swiggy, IndiGo, Sona BLW among buzzing stocks as SENSEX falls over 300 pts, NIFTY below 23,800

The Indian benchmark indices, SENSEX and NIFTY50, continued trading in the negative territory during the afternoon session on Friday, July 24, as Brent crude oil prices surged over $100 per barrel (bbl), amid continuous attacks from the United States on strategic Iranian targets and the risk of another oil supply disruption.

The SENSEX tanked as much as 1.2% to hit an intraday low of 75,474.43. Meanwhile, the NIFTY50 slumped as much as 1.1% to touch the session’s low of 23,606.30.

At 1:04 PM, the S&P BSE SENSEX fell by 329.34 points, or 0.43%, to trade at 76,062.05, while NSE’s NIFTY50 was trading at 23,784.90, marking an 84.70-point, or 0.35% decline.

Buzzing stocks on July 24: Check list

Shares of Cipla advanced as much as 3.72% to hit an intraday high of ₹1,444.80 per unit on the National Stock Exchange (NSE) on Friday, July 24, a day after reporting strong sequential performance in the June quarter of the 2026-27 financial year (Q1 FY27).

The pharmaceutical company recorded a consolidated net profit of ₹789 crore in the first quarter of FY26, reflecting a 42% quarter-on-quarter (QoQ) growth from ₹555 crore seen in the previous quarter of the last fiscal year (Q4 FY26), according to a regulatory filing dated July 23. However, on a year-on-year (YoY) basis, the net profit has fallen 39% from ₹1,298 crore seen in the year-ago period.

The stock of Adani Enterprises was trading with gains after the company issued a clarification on media reports suggesting it was planning to launch an airline.

In a filing to the stock exchanges on Friday, the flagship Adani Group company categorically denied recent media reports and market speculation claiming it was planning to enter the airline business. "The reports are entirely baseless and factually incorrect," the company said.

On July 23, a Reuters report, cited by several news publications, said that Gautam Adani's group was considering launching a new airline—a move that could potentially reshape competition in the Indian aviation market, currently dominated by IndiGo and Air India.

Swiggy shares were in the spotlight today as the stock of the food delivery and quick commerce company declined 7.2% intraday, hitting a day low of ₹242.51 apiece on NSE.

The stock fall came after the company’s board approved a proposal to cap the company's aggregate foreign ownership at 49.5% on a fully diluted basis, down from the current 100% level. The move comes to maintain its status as an Indian-owned and controlled company (IOCC).

As per experts, IOCC (Indian owned and controlled company) status would allow Swiggy to directly own and sell inventory through its quick commerce brand Instamart, a move expected to improve margins and strengthen supply chain control.

Besides this, e-commerce firm Flipkart's decision to enter the food delivery business also impacted investors' sentiments. Walmart-owned e-commerce giant Flipkart plans to launch pilot operations in Bengaluru for its online food delivery within 30 days. As per the company’s CEO, Flipkart is exploring a separate app for food delivery while also making the service available through the Open Network for Digital Commerce (ONDC).

The stock of Mphasis pared its gains after surging around 5% to ₹2,340 apiece during the morning market hours on Friday, July 24, as investors focused on the technology solutions provider’s Q1 financial performance.

While maintaining the revenue guidance for the financial year 2026-27, the management attributed its Q1 show to the strong order pipeline and momentum in the company’s TRIA-led deal wins.

In the April to June quarter, Mphasis secured three large deals with one above $100 million in total contract value. The company also said that the backlog strength, along with shorter cycle deals, supported the revenue growth.

Experts said that while the revenues surpassed expectations, the company's margins remained under expectations despite healthy deal growth in the period.

Meesho shares declined as much as 6% to touch an intraday low of ₹177.50 apiece on Friday, July 26, as the June quarter earnings failed to impress the market investors.

The e-commerce firm reported a year-on-year (YoY) net loss of ₹1,328 crore for the quarter ended June 30, 2026, narrowing from a net loss of ₹2,894 crore seen in the corresponding quarter last year.

For Q1 FY27, the company’s revenue from operations increased 48% YoY to ₹3,713 crore as compared to ₹2,504 crore in Q1 FY26, driven by improved delivery conversion through lower cancellations, Return-to-Origin (RTO) rates and higher platform monetisation.

The stock of Infosys slipped as much as 3.2% to hit the session’s low of ₹1,013.90 on Friday, July 24, following the company's June quarter (Q1 FY27) results announcement.

Infosys on Thursday reported a 12.2% year-on-year (YoY) rise in consolidated net profit to ₹7,769 crore for the June quarter, and tempered the upper end of its full-year revenue forecast to between 1.5% and 3% amid continued macroeconomic uncertainty.

India's second-largest IT services company saw revenue for Q1FY27 rise 14% to ₹48,211 crore.

Infosys also named company veteran Ashiss Kumar Dash as CEO-designate, with the leadership transition scheduled for April 1, 2027, after incumbent Salil Parekh completes his second term, marking the end of a nine-year tenure. Notably for Infosys, Parekh is its longest-serving CEO who is not one of the founders.

InterGlobe Aviation or IndiGo shares declined more than 2% on the NSE, as investors focused on the airline company’s muted performance in Q1 earnings and the global crude rebounding to above $100 per barrel amid escalations in West Asia.

IndiGo’s parent company, InterGlobe Aviation, announced its April to June quarter results for the financial year 2026-27, after market hours on Thursday, July 23. India’s largest airline operator posted a ₹237 crore net loss due to the massive surge in jet fuel prices in the period.

In comparison, IndiGo recorded a net profit of ₹2,176.3 crore in the same June quarter period a year ago.

Experts predict that although the near-term earnings potential will likely remain subdued, the airline company can potentially gain from the fuel cost moderation at the end of the second half of the current fiscal year if IndiGo continues to maintain higher pricing.

Shares of Sona BLW Precision Forging surged 3% to hit a 52-week high of ₹741.65 apiece, as the company reported a consolidated net profit (attributable to the owners of the company) of ₹180.47 crore during the quarter under review, marking a 44.71% YoY increase from ₹124.71 crore in Q1 FY26.

On a sequential basis, however, its profit declined 5.9% quarter-on-quarter (QoQ) from ₹191.92 crore in the quarter-ago period.

Its revenue from operations advanced by 52.38% YoY to ₹1,301.20 crore in the June FY27 quarter, as against ₹853.91 crore in the corresponding quarter of the previous fiscal year. It jumped 3.47% QoQ from ₹1,257.5 crore in the March quarter of FY26.

Larsen & Toubro (L&T) stock was trading in the green as its manufacturing arm secured a series of international large orders on Friday, July 24, worth between ₹2,500 crore and ₹5,000 crore.

L&T Heavy Engineering bagged international orders across Asia, Africa, North America, South America and Europe. The business has secured orders from Africa’s largest industrial conglomerate, Dangote Group, for a mega refinery and multi-train fertiliser expansion projects in Nigeria and Ethiopia.

The scope includes the supply of critical process equipment, comprising the world’s largest Fluid Catalytic Cracking Reactor Regenerator Package, all critical urea and ammonia equipment, the company said.

Shares of Caliber Mining and Logistics debuted at ₹500.25 apiece on the NSE on Friday, July 24. This reflects a premium of 17.98% over the IPO issue price of ₹424 per share. On the BSE, the stock started trading at ₹504 per equity share, up 18.87% from the issue price.

A lot consisted of 35 shares and cost ₹14,840. Investors who received Caliber Mining and Logistics IPO allotment made ₹2,668.75 per lot, taking the value of their investment to ₹17,508.75, as per the listing price on the NSE.

The initial share sale was booked a whopping 146.64 times during the three-day subscription period. It got bids for 1,14,90,37,400 shares compared to 78,35,821 shares on offer, as per the NSE data.