Milky Mist, Tata Elxsi, ITC, HFCL among buzzing stocks as SENSEX trades flat; NIFTY below 24,050

Benchmark indices, SENSEX and NIFTY50, were trading flat during the afternoon session, following a weak start, on Tuesday, September 1, amid buying in fast-moving consumer goods (FMCG) and information technology (IT) stocks and a sell-off in mid-small financial services and capital markets stocks.

While the markets had opened in the red, they saw a recovery during the afternoon session, surging into positive territory. However, at the time of writing, both the benchmark indices were trading flat.

While strong GDP numbers boosted market sentiment, global headwinds, geopolitical pressures in the Middle and a surge in crude oil prices dampened sentiment.

India's economy grew 7.8% in the April-June quarter of 2026-27, according to the latest GDP estimates released by the government on Monday, beating the RBI's 7% projection.

At 1:41 PM, the S&P BSE SENSEX fell by 67.95 points, or 0.08%, to trade at 76,889.32. NSE’s NIFTY50 stood at 24,024.40, reflecting a 56-point, or 0.23% decline.

Buzzing stocks on September 1: Check list

The NIFTY Auto index, which is designed to reflect the behaviour and performance of the Indian automobiles sector, surged as much as 0.86% to hit an intraday high of 29,090.30, compared with the closing of 28,841.50 in Monday’s session. However, the index slipped into the red zone.

Maruti Suzuki reported total sales of 219,220 vehicles in August 2026, up 21.32% year-on-year (YoY). In August 2025, it had sold 180,683 units. Meanwhile, Tata Motors CV posted a 49% YoY increase in its sales in the domestic and international markets for August 2026, which stood at 44,411 units against 29,863 units during August 2025.

Oil downstream companies, aviation stocks, tyre stocks and paint stocks, among other oil-sensitive stocks, were witnessing selling pressure during the trading session, while oil upstream companies like Oil India and ONGC, among others, were rising on September 1, as investors reacted to global crude oil prices surging to a 7-day high above $91 per barrel (bbl) amid recent escalations between the United States and Iran in West Asia.

Data showed that the benchmark global crude oil, Brent, prices surged to a seven-day high of $91.58 per barrel (bbl) on Tuesday’s market, its highest level since August 25, 2026, due to the escalations in West Asia prompting supply concerns and eroding hopes of a peace deal.

Aviation stocks like IndiGo operator InterGlobe Aviation and SpiceJet slipped on Tuesday, September 1, as the prices of aviation turbine fuel (ATF) were hiked.

The increase comes on the back of a ₹5 a litre rise in rates on August 1. The two increases will add to the financial burden of airlines, for whom ATF makes up to 40% of operating costs.

Shares of cables and wires (C&W) companies such as Polycab India, KEI Industries, Havells India, Finolex Cables and RR Kabel were in focus on Tuesday, September 1.

The trigger is UltraTech Cement’s commencement of commercial production of wires and cables at its Gujarat facility, which has an installed capacity of around 11 lakh km.

Shares of ITC Ltd advanced as much as 4.69% to ₹267.50 apiece on the National Stock Exchange (NSE) on Tuesday, September 1, after the announcement that ITC Infotech, its wholly owned subsidiary, will merge with Bengaluru-based Happiest Minds Technologies to create an AI-first enterprise with a $1 billion turnover by FY28.

As a precursor to the merger, ITC Infotech will acquire a 22.106% stake from Happiest Minds promoter Ashok Soota and Ashok Soota Medical Research LLP, according to regulatory filings.

Following the stake purchase, Happiest Minds will be amalgamated into ITC Infotech.

The stock of HFCL declined as much as 4.04% to touch an intraday low of ₹240.20 apiece on Tuesday, September 1, despite the company securing a fresh order.

Worth approximately ₹2,329 crore ($244 million), HFCL has secured an order from a global multinational corporation for multi-million fibre kilometres of high-quality, high-fibre-count optical fibre cable (OFC).

The company, in a filing, said that the international order will be supplied in each calendar year starting from CY27 to CY29. The order is expected to be executed up to December 2029.

Milky Mist shares rallied 10% to hit their upper circuit on the NSE on Tuesday, September 1, as investors reacted to the company’s strong April to June quarter earnings report for the financial year 2026-27, with profits rising nearly 10-fold in the period.

On Monday evening, Milky Mist’s board of directors announced the company’s April to June quarter results for FY27, in which the dairy products maker recorded a nearly 10-fold or 889.9% jump in net profit after tax (PAT).

This massive surge in net profit comes against the backdrop of a healthy 43.6% revenue growth in the period, and a 264 basis point (bps) improvement in the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) margins.

The stock of Tribhovandas Bhimji Zaveri rose by its daily maximum limit of 20% and was locked in an upper circuit at ₹366.80 on the NSE after the company informed exchanges that it has signed a share purchase agreement to sell a 74.12% stake in the company.

Tribhovandas Bhimji Zaveri, in an exchange notification, said that GRT Jewellers India Private Limited, one of India’s leading jewellery retail companies, signed a share purchase agreement (SPA) with the promoters of Tribhovandas Bhimji Zaveri to acquire their stake of 74.12% in the company.

GRT would acquire the Promoter’s stake for an aggregate value of up to ₹1,033.71 crore. The consummation of the SPA will be subject to appropriate regulatory approvals and customary closing conditions. GRT will also be launching an open offer for another 26% as per applicable SEBI regulations, Tribhovandas Bhimji Zaveri said.

Shares of Tata Elxsi rose as much as 2.6% to hit an intraday high of ₹3,671.90 apiece on the NSE in noon deals on Tuesday, September 1.

The stock rallied as the Tata Group company and Sarla Aviation, an advanced air mobility company, signed a Memorandum of Understanding (MoU) to collaborate on the development of Shunya, Sarla Aviation's six-seater plus one pilot electric vertical take-off and landing (eVTOL) aircraft.

The press release said that the partnership brings together Sarla Aviation's vision for urban air mobility and Tata Elxsi's expertise in aerospace, software and flight-critical digital engineering to support the aircraft's development, testing and certification.

United Breweries stock grew as much as 1.1% to reach the session’s peak of ₹1,322.90 per unit on the NSE on September 1, as the company said that it is commissioning a new canning line at its Ellora Brewery in the Waluj MIDC area of Chhatrapati Sambhajinagar, Maharashtra.

Backed by an investment of ₹110 crore, the facility is expected to become operational in September 2026, subject to statutory approvals, strengthening UBL’s manufacturing footprint, improving brewery productivity and enabling the company to respond to growing demand in one of India’s most important beer markets, according to a regulatory filing.

Man Infraconstruction shares jumped as much as 3.12% to hit an intraday high of ₹126.44 per unit on the NSE on Tuesday, after its board of directors approved the buyback of shares aggregating to ₹169.29 crore.

According to a regulatory filing, the buyback will be for fully paid-up equity shares with a face value of ₹2 each, at a price not exceeding ₹171 apiece, from all shareholders and beneficial owners of the equity shares, payable in cash via the open Market route through the stock exchange mechanism

Skyways Air Services shares made a weak stock market debut on Tuesday, September 1. Shares of the logistics service provider listed at ₹124 apiece on the NSE, reflecting a discount of 10.1% over the initial public offering (IPO) issue price of ₹138 apiece. On the BSE, Skyways Air Services stock started trading at ₹124.5, down 9.7% from the issue price.

The company’s initial public offering was subscribed 71.25 times, with bids for 2,10,79,10,700 shares compared to 2,95,83,600 shares on offer, according to the NSE data.

Pharma and biotech company Symbiotec Pharmalab's shares were listed at ₹988 per unit on the NSE on Tuesday, September 1. This is at par with the IPO issue price of ₹988 per share. The stock debuted at ₹978.20 per share on the BSE (formerly Bombay Stock Exchange), down 0.99% from the issue price.

The initial share sale was subscribed 71.26 times. It got bids for 93,52,49,700 shares against 1,31,24,929 shares on offer, according to the NSE data.

Shares of hydraulic fitting manufacturer Hy-Tech Engineers Ltd made a blockbuster debut on the stock exchanges on Tuesday, September 1. The stock is listed at ₹75 per share on the NSE. This reflects a premium of 41.51% over the IPO issue price of ₹53 per share. On the BSE, it started trading at ₹72 apiece, up 35.85% from the issue price.

The initial public offering was subscribed a massive 244.41 times, as it secured bids for 4,43,49,70,542 shares versus 1,81,45,406 shares on offer, as per the data available on the NSE website.