Coforge, Azad Eng, NCC, AXISCADE among buzzing stocks as SENSEX falls 400 pts; NIFTY trades below 22,700

The Indian benchmark indices continued to trade in negative territory during afternoon deals on Tuesday, September 29, tracking weak global cues, amid a surge in global crude oil prices, FII outflow and a weak rupee.

The Indian rupee weakened past the 96 mark during the trading session on Tuesday, with Investing.com data showing that the rupee has weakened 0.20% to touch a high of 96.388 against the US dollar, in comparison to 96.187 at the previous currency market close.

The SENSEX tanked as much as 0.97% to hit an intraday low of 72,064.00. Meanwhile, the NIFTY50 tumbled as much as 0.92% to touch the session’s low of 22,569.65.

At 1:25 PM, the S&P BSE SENSEX fell by 405.32 points, or 0.56%, to trade at 72,366.40, while NSE’s NIFTY50 stood at 22,665.70, marking a 114.55-point, or 0.50% decline.

On Monday, the foreign institutional investors (FIIs) sold shares worth ₹5,353.22 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹5,189.02 crore on a net basis, according to exchange data.

The top losers in the NIFTY50 index included HDFC Life Insurance Company, Titan Company, HCL Technologies, Infosys and Eternal.

On the contrary, Dr. Reddy's Laboratories, Adani Enterprises, Kotak Mahindra Bank, Adani Ports and Special Economic Zone and Tata Steel were among the top losers.

Buzzing stocks on September 29: Check list

Mankind Pharma, Dr Reddy’s, Gland Pharma, Abbott India, among other pharmaceutical stocks gained during the trading session on Tuesday, September 29, in turn powering the sectoral benchmark index Nifty Pharma up over 1% as the United States exempted certain speciality drugs imported from specific 20 countries from its 100% import duty rate.

While the United States imposed a 100% duty rate on specified patented pharmaceutical products and associated ingredient imports, which took effect for the majority of companies across the world, certain jurisdictions were exempted from the tariff rates.

All eligible Indian drugmakers that will qualify for the speciality medicines import duty exemption will witness significant relief, enjoying zero import duty in the United States, which still remains the primary export market for domestic pharmaceutical companies.

Shares of Adani Group companies, namely Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd (APSEZ), and Adani Transmission Ltd, now known as Adani Energy Solutions Ltd, were mostly trading in the green zone on September 29.

This comes as Adani Group chairman Gautam Adani, the mentioned four group companies and 13 others on Monday settled proceedings initiated by the market regulator SEBI over alleged violations of minimum public shareholding (MPS) norms by paying a settlement amount of ₹1.48 crore.

The settlement covers Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Transmission Ltd, now known as Adani Energy Solutions Ltd, along with their directors.

The proceedings stemmed from complaints received by SEBI in June and July 2020 alleging non-compliance with MPS requirements by certain listed Adani Group companies.

The stocks of Tata Chemicals and Tata Investment Corporation came under pressure on Tuesday after Tata Trusts proposed a restructuring of Tata Sons that could potentially allow the holding company to remain private and avoid a stock-market listing.

Tata Trusts, which hold a 66% stake in Tata Sons, have proposed merging Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons.

The objective is to change the composition of Tata Sons so that the reorganised entity would no longer meet the regulatory criteria for either a non-banking financial company (NBFC) or a core investment company (CIC).

If the restructuring is approved and Tata Sons ceases to qualify as a CIC or NBFC, it would be required to surrender its RBI certificate of registration. This could potentially remove the regulatory requirement that has been at the centre of expectations around a Tata Sons listing. The proposal, however, is subject to consideration by the Tata Sons board and prior no-objection from the RBI, among other approvals.

Shares of Azad Engineering rallied as much as 10.1% to hit an intraday high of ₹2,998 apiece on the National Stock Exchange (NSE), as Goldman Sachs said that the company inaugurating two exclusive lean manufacturing facilities for GE Vernova's Gas Power business is particularly relevant.

The analysts stated that the newly inaugurated facilities are important since gas-turbine expansion has remained Azad Engineering’s key medium-term growth driver, adding that the company continues to move up the value chain from a component supplier towards a broader platform/ integrated partner.

Furthermore, the analysts noted that the firm’s sizable order book provides multi-year revenue visibility, while further product/customer qualifications offer incremental optionality beyond the existing base.

NCC stock climbed as much as 5.38% to touch the session’s peak of ₹137.30 per equity share before falling into negative territory, as it secured a letter of award (LoA) from the government of Andhra Pradesh for the supply of fresh water.

Worth ₹1,076.71 crore (excluding GST), the order for supplying drinking water was bagged under the Multi Village Scheme on Yeleru Reservoir for Anakapalli Segment in Anakapalli District in Andhra Pradesh, according to a regulatory filing dated September 28.

NCC Ltd accepted the LoA on September 26 from the Rural Water Supply and Sanitation Department, Visakhapatnam, Government of Andhra Pradesh. The order is expected to be executed over a period of 24 months, the filing read.

Shares of AXISCADE surged as much as 10% to hit its upper circuit limit at ₹2,067.40 per unit, after it witnessed a large trade during the first session of the block deal window.

The company saw 45.49 lakh (or 45,48,905) of its shares change hands at ₹1,824 per unit, bringing the transaction value to ₹829.72 crore, as per NSE data.

TCI Express stock gained as much as 20% to hit an intraday high of ₹583.20 per unit on the NSE on Tuesday, following a block deal.

The company recorded a block deal worth ₹29.59 crore, with 6.10 lakh (or 6,10,000) of its shares changing hands during the morning session of the block deal window. The stock changed hands at an average price of ₹485 per equity share.

Symbiotec Pharmalab shares rallied as much as 7.7% to hit an intraday high of ₹1,137.20 apiece on September 29, as it received the Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (U.S. FDA) for its manufacturing facility in Pithampur (“SEZ”), Madhya Pradesh, with a Voluntary Action Indicated (VAI) status.

“The inspection was conducted at the Company’s manufacturing facility at Pithampur, from August 10, 2026 to August 14, 2026,” according to a regulatory filing.

The stock of Coforge climbed as much as 2.3% to hit an intraday high of ₹1,813.80 per equity share on Tuesday, after the company’s board of directors appointed Akhil Gupta as Chairperson and a Non-Executive Independent Director, according to a regulatory filing.

Gupta’s appointment will come into effect on September 29, 2026, with a period of service of five years, the filing added.

With over 40 years of experience, Gupta formerly served as the Vice Chairman of Bharti Enterprises, Coforge said, adding that he played a “pivotal role in Bharti’s growth right since inception”.

Shares of tiles and bathware manufacturer Varmora Granito debuted at ₹155 apiece on the NSE on Tuesday, September 29. This reflects a premium of 4.73% over the IPO issue price of ₹148 per equity share. On the BSE, the stock started trading at ₹152 per share, up 2.70% from the issue price.

A lot consisted of 101 shares and cost ₹14,948. Investors who received the Varmora Granito IPO allotment made ₹707 per lot, taking the value of their investment to ₹15,655, as per the listing price on the NSE.

The ₹708.02 crore initial public offer was a mix of a fresh issuance of shares totalling ₹320 crore and an offer-for-sale (OFS) component of 2.62 crore shares worth ₹388.02 crore by investor Katsura Investments.