Market movers: Adani Power hits all-time high, Pine Labs among lows; check top 5 movers by mcap

The Indian stock market was trading flat during the afternoon session on Wednesday, May 27, amid subdued market sentiment, impacted by the rising uncertainty over US-Iran negotiations and rising oil prices.

The market investors remained cautious, with a key focus on assessing the volatile oil prices, the negotiation updates between the United States and Iran over the West Asia conflict and the escalations in the Strait of Hormuz, amid a fragile ceasefire deal.

The broader market, however, was trading in green with both the Nifty Midcap 100 and Nifty Smallcap 100 rising nearly 1% on Wednesday.

At the time of writing the article, Hindalco Industries (3.53%), Eternal (3.08%), Power Grid (2.61%), Tata Steel (2.26%) and IndiGo (2.19%) were the top contributors on the NIFTY50 index. On the flip side, ONGC (-4.4%), HDFC Bank (-2.5%), Coal India (-1.63%), Wipro (-1.3%) and HDFC Life Insurance (-1.24%) were the biggest laggards on the 50-share index.

Stocks touching record highs

Adani Power, with a market capitalisation of ₹4.77 lakh crore, led the stocks that touched their lifetime highs on Wednesday. Other companies that also hit record highs during the session included Adani Ports and Special Economic Zone, JSW Steel, Hindalco Industries and Grasim Industries.

Last week, Adani Power had entered into definitive agreements to acquire a 24% stake in Jaiprakash Power Ventures and other thermal assets from Jaiprakash Associates for about ₹4,193.59 crore.

Further, on the backdrop of Hindalco Industries’ healthy Q4 revenues, market experts predict that the company is expected to outperform its peers in the near term, with better performance across its business segments amid the increasing price of aluminium in the market.

A rise in aluminium prices is beneficial for Hindalco as the upstream metal manufacturer aids its operating margins and profitability from the increased prices in the market.

Stocks touching record lows

With a market capitalisation of ₹16,556 crore, Pine Labs led the stocks that touched their record lows on Wednesday. Apart from Pine Labs, other stocks that featured among the top five touching their record lows included Raymond Lifestyle, Ashika Credit Capital, Bajaj Steel Industries and Fedders Holding.

Pine Labs this week had posted a consolidated net profit of ₹59.36 crore in the March quarter of FY26. The payment solutions provider had reported a net loss of ₹28.91 crore a year back. Sequentially, post-tax profit rose 40% from ₹42.39 crore.

Its revenue from operations increased 17% to ₹598.64 crore in the latest January-March quarter, compared to ₹598.64 crore a year back. Pine Labs recorded its first full year of profitability, with a net profit of ₹2,113 crore, compared to a loss of ₹2,145 crore in the prior year, a swing of ₹258 crore in a single year.

Earlier this month, Raymond Lifestyle had reported a widening of its consolidated net loss to ₹52.06 crore in the March quarter of FY26. It had reported a net loss of ₹44.96 crore in the January-March period a year ago.

Revenue from operations, however, rose 18.9% to ₹17,76.45 crore in the March quarter of FY26. It was at ₹1,494.15 crore in the corresponding period a year ago.