Kalyan Jewellers, Swiggy, Dr Reddy’s, GM Breweries among buzzing stocks as SENSEX trades over 500 pts, NIFTY50 up 0.7%

This equity market rebound comes on the backdrop of a stronger Indian rupee rate, despite the heightened tensions between the United States and Iran which has flared up crude oil prices 12% in a matter of two days in the global market.

As of 12:25 pm, the benchmark NIFTY50 index was trading 0.77% or 183.70 points higher at 24,065.75 points on Thursday’s market session, compared to 23,882.05 points at the previous stock market close, as per NSE data.

Meanwhile, the BSE SENSEX index was trading 0.73% or 563.21 points higher at 77,066.81 points on July 9, compared to 76,503.60 points at the previous stock market close, as per the exchange data.

Although the equity investors were buying back stocks after the stock market crash, key focus also remained on the West Asia front after US President Donald Trump on Wednesday evening launched a second round of airstrike on Iran destroying 90 strategic targets.

US Central Command (CENTCOM) in an official statement said that the additional round of attack was in an effort to ‘degrade’ Iran’s ability to further attack commercial ships transiting the Strait of Hormuz.

Prominent buzzing stocks on July 9

GM Breweries

GM Breweries shares surged more than 6% after the company’s Q1 earnings release for the financial year ending 2026-27 on Thursday, July 9. The shares surged 6.3% to an intraday high of ₹1,020.65 after which the shares reduced its gains as investors booked profits on earnings cue.

As of 12:37 pm, shares of GM Breweries were trading 1.4% higher at ₹973.55 on Thursday’s market, compared to ₹959.70 at the previous stock market close, as per NSE data.

NSE filing also showed that GM Breweries’ consolidated net profit rose 45% to ₹38 crore in the first quarter, compared year-on-year (YoY) with ₹26 crore in the same period a year earlier.

The company’s total revenue from core operations advanced 26% to ₹803 crore for the June quarter, compared with ₹638 crore in the same quarter of the previous fiscal year, as per the consolidated financial statements.

The alcoholic beverages maker’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin expanded to 5.8%, from its earlier 4.78% levels in the same quarter of the previous year.

Kalyan Jewellers

Kalyan Jewellers India shares rallied for a second consecutive trading session on the Indian stock market after global investment firm Citibank highlighted that the company’s asset-light model will aid deleveraging and improve return on capital employed (RoCE) going forward.

Shares of Kalyan Jewellers India surged 17.5% to their intraday high of ₹440 on Thursday’s market, compared to ₹374.15 at the previous stock market close, as per the exchange data.

NSE data also showed that the shares of the jewellery maker have gained nearly 12% in the last five trading sessions on the stock exchange. In the company’s latest business update, the firm recorded 38% consolidated revenue growth in the first quarter of FY27.

On the sales growth front, same-store sales growth came in at 28% as of the end of the June quarter of the year ended 2026-27. The company also disclosed that international markets contributed nearly 14% to the jewellery firm’s consolidated revenue in the period under review.

Swiggy

Online food delivery platform, Swiggy share price surged 7.4% to its intraday high of ₹280.90 on Thursday, July 9, compared to ₹261.41 apiece at the previous stock market close as investors fuelled high volume gains.

The trading volumes of Swiggy’s stock surged past 38 million across both stock exchanges, as per Trendlyne data.

Investors' interest in Swiggy shares comes ahead of the company’s upcoming Q1 results for the financial year ending 2026-27 and the foreign investor holding falling below 50% levels.

Dr Reddy’s

Dr Reddy’s shares dropped 7% on Thursday’s market after the pharma major said commercial supplies of its semaglutide product would be delayed due to an active pharmaceutical ingredient (API)-related quality issue.

At 1:29 pm, shares of Dr Reddy’s were trading 5.8% lower at ₹1,271.30 on July 9, compared to ₹1,349 at the previous stock market close, as per NSE data.

The company found certain batches of semaglutide to be out of the required specification and said that the firm is investigating the root cause of the issue. Dr Reddy’s also said that there is no impact on patient safety or the product's existing global regulatory filings.

Vedanta Oil and Gas

Vedanta Oil & Gas shares surged more than 8% to ₹39.60 apiece on the NSE on Thursday, July 9, after the company received a favourable ruling by the Delhi High Court in a long-running legal dispute involving the firm.

At 1:58 pm, Vedanta Oil & Gas shares were trading 6.1% higher at ₹38.78 on Thursday’s market, compared to ₹36.52 at the previous stock market close, as per NSE data.

The Delhi HC upheld the enforcement of two foreign arbitral awards worth nearly $99 million in favour of Vedanta Ltd and Singapore-based Ravva Oil. The dispute relates to the Ravva oil field production-sharing contract with the Central government.