Jio Financial, RIL, TechM among buzzing stocks as SENSEX, NIFTY50 soar 1% in noon deals

The Indian benchmark indices, SENSEX and NIFTY50, continued to trade in positive territory during the afternoon session on Friday, July 17, defying weak cues from other Asian markets led by gains in information technology (IT) shares.

Investors are also eyeing the upcoming earnings announcements from the Mukesh Ambani-led oil-to-telecom behemoth Reliance Industries.

The SENSEX rallied as much as 1.11% to hit an intraday high of 78,044.60. Meanwhile, the NIFTY50 soared 0.9% to reach the session’s peak of 24,297.50.

At 1:13 PM, the S&P BSE SENSEX gained by 804.41 points, or 1.04%, to trade at 77,991.28. NSE’s NIFTY50 stood at 24,279.35, marking a 206.60-point, or 0.86% increase.

Buzzing stocks on July 17: Check list

Constructive management commentary, coupled with a string of large deal wins by leading IT firms, also lifted sentiment. In addition, short covering, easing concerns over discretionary technology spending, and expectations that demand may have bottomed out further supported the rally.

Tech Mahindra shares jumped as much as 3.4% to hit an intraday high of ₹1,562.90 apiece on the National Stock Exchange (NSE) on Friday, July 17, a day after the country’s fifth-largest IT services firm reported its earnings for the first quarter of the current fiscal year (Q1 FY27).

The IT firm reported a consolidated net profit of ₹1,465 crore for the quarter ended June 30, 2026 (Q1 FY27), rising 8.2% sequentially from ₹1,354 crore in Q4 FY26. On a year-on-year (YoY) basis, it registered a growth of 28.4%.

Its revenue from operations surged 4.2% on a quarter-on-quarter (QoQ) basis to ₹15,712 crore during the quarter under review, compared to ₹15,076 crore in the March quarter of the 2025-26 fiscal year (Q4 FY26).

Jio Financial Services stock surged 6% after the opening bell on Friday, July 17, as investors focused on the two-fold jump in the April to June quarter net profits and overall healthy financial performance of the company.

The investment firm’s management attributed the strong Q1 earnings performance to the growth across Jio Financial’s business verticals and the strategic integration of artificial intelligence (AI) and data analytics, which has improved the overall efficiency of the firm.

Jio Financial Services’ board of directors announced that the company recorded a 155% rise in consolidated net profits to ₹830 crore in the first quarter of the financial year ending 2026-27, compared year-on-year with ₹325 crore in the same period a year earlier.

Shares of Reliance Industries (RIL) advanced 2% on the NSE, ahead of its result announcement for the quarter ending June 30, 2026, on Friday, July 17, 2026. It will announce its earnings for the June quarter of FY27 on Friday, July 17, after market hours.

As per experts, Reliance Industries’ consolidated Q1 revenue could range between ₹3.01 and ₹3.10 lakh crore, rising 23% to 27% YoY and 2% to 5% on a sequential basis. The company reported revenue of ₹2.94 lakh crore in the previous quarter and ₹2.43 lakh crore in Q1FY26.

Net profit could rise by 6 to 10% compared to the previous quarter in the range of ₹17,900 to ₹18,670 crore. The company reported a net profit attributable to owners at ₹26,994 crore in Q1FY26 and ₹16,971 crore in the previous quarter.

PC Jeweller stock declined 6% to touch an intraday low of ₹9.71 per equity share on Friday, July 17, a day after the firm said its board of directors has approved raising funds and an increase in authorised share capital.

The jewellery firm plans to raise up to ₹1,000 crore through the issuance of equity shares with a face value of ₹1 each and/or other eligible securities, or a combination thereof, via Qualified Institutions Placement (QIP) in one or more tranches.

The company has approved the constitution of a Qualified Institutions Placement (QIP) committee to oversee the proposed fundraise. The committee has been authorised to appoint necessary intermediaries, advisors and other agencies and to finalise key aspects, including the structure, size, timing and pricing of the QIP.

Bharat Heavy Electricals Ltd (BHEL) shares surged to their all-time high during the trading session, before falling into the red zone, on July 17, as investors focused on the company turning around to post profits in Q1 earnings for the fiscal year ending 2026-27, against a net loss a year ago.

BHEL’s healthy Q1 performance was supported by the increase in segmental revenue from the company’s power and industry businesses, which fuelled the overall revenue from core operations in the period under review.

With a strong order book and continued opportunity momentum, the company now aims to focus on execution strategies in an effort to improve the company’s overall margins in the upcoming period.

Despite the healthy Q1 show, market experts predict that the company may face difficulties ahead to improve its profitability, unless the firm can execute the order backlog at a sustained pace.

The stock of PNC Infratech jumped 6% to hit the session’s peak of ₹258 per equity share on the NSE, after its special purpose vehicles (SPVs) and the National Highways Authority of India (NHAI) signed a concession agreement for two Hybrid Annuity Mode (HAM) projects worth ₹3,483.00 crore.

The SPVs were incorporated by the company for implementation of the following two HAM Highway Projects for an aggregate bid project cost of ₹3,483 crore, according to a regulatory filing.