MRPL, GE Power, ICICI Lombard, ABB India among buzzing stocks as SENSEX rises over 200 pts, NIFTY above 24,100

Benchmark indices, SENSEX and NIFTY50, continued trading with gains during the afternoon session on Thursday, July 16, as investor sentiment improved after the Union Cabinet on Wednesday approved two major manufacturing initiatives with a combined outlay of nearly ₹1.9 lakh crore to expand India's semiconductor ecosystem, scale up mobile phone production and strengthen its position as a global electronics manufacturing hub.

The SENSEX gained as much as 0.51% to hit an intraday high of 77,579.69, while the NIFTY50 jumped as much as 0.4% to the session’s peak of 24,186.50.

At 12:55 PM, the S&P BSE SENSEX advanced by 209.04 points, or 0.27%, to trade at 77,394.47. NSE’s NIFTY50 stood at 24,124, reflecting a 46.85-point, or 0.19% increase.

During the noon session, NIFTY Chemicals, IT, Consumer Durables and Media were among the top-performing sectoral indices.

Buzzing stocks on July 16: Check list

The rally came after the Union Cabinet on Wednesday approved two major manufacturing initiatives with a combined outlay of nearly ₹1.9 lakh crore ($22 billion). The measures aim to expand India's semiconductor ecosystem, scale up mobile phone production and strengthen the country's position as a global electronics manufacturing hub.

The government approved the ₹1.27 lakh crore ($14.6 billion) Semicon 2.0 programme to accelerate semiconductor design and manufacturing capabilities, alongside the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) aimed at increasing domestic production, boosting exports and deepening local value addition in the mobile phone industry.

Shares of Mangalore Refinery and Petrochemicals (MRPL) soared as much as 13.3% to hit an intraday high of ₹178.40 per unit on the National Stock Exchange (NSE) on Thursday, July 16, after the company reported robust earnings for the June quarter of the 2026-27 financial year (Q1 FY27).

The ONGC subsidiary reported a multi-fold quarter-on-quarter (QoQ) surge in its consolidated net profit to ₹945.68 crore in the first quarter of FY27, compared with ₹116.99 crore in the preceding quarter.

In the corresponding period of the 2025-26 financial year (Q1 FY26), the company had logged a loss of ₹270.66 crore.

The stock of Himadri Specialty Chemicals surged as much as 6.96% to hit a 52-week high of ₹729 per equity share on July 16, following a strong performance in the June quarter of FY27.

According to a regulatory filing dated July 15, the company’s consolidated net profit soared 27.36% YoY to ₹228.43 crore in the June quarter, on account of higher income. It had reported a net profit of ₹179.36 crore in the corresponding quarter of FY26.

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹313 crore for the reporting quarter, reflecting a 33% YoY increase from ₹235 crore in the first quarter of FY26. Its margin stood at 22% during the quarter.

GE Vernova arm, GE Power India shares surged 5% to hit their upper circuit level during the trading session on Thursday, before falling into the red zone.

The stock surged after the company fixed Friday, July 31, 2026, as the record date to determine the eligibility of the shareholders for the final dividend payment of ₹7 per share, subject to approval in the upcoming annual general meeting (AGM).

The company shareholders will determine the approval of the final dividend payment in the upcoming 34th AGM, scheduled to be held on Friday, August 14, 2026.

Key focus for investors also remained on GE Power India’s Durgapur facility demerger voting update, which was announced after the company’s Q4 results for the financial year ended 2025-26.

Emmvee Photovoltaic Power stock on Thursday, July 16, rallied 10% to hit a 52-week high of ₹371.55 apiece, a day after the company reported a positive quarter.

The pure-play integrated solar photovoltaic system module and solar cell manufacturing firm reported a 102% jump in its consolidated net profit at ₹380 crore for the quarter ending June 30 of FY27. The company had seen a profit of ₹188 crore in the same quarter of the previous fiscal year.

Emmvee’s revenue from operations for the quarter under review stood at ₹1,556 crore, marking a growth of 51% from ₹1,028 crore reported in the first quarter of FY26.

Jupiter Life Line Hospitals shares rose as much as 5.5% to touch an intraday high of ₹1,582.90 apiece on Thursday, July 16, following a block deal.

According to block deal data on BSE, HDFC Mutual Fund has bought 9.37 lakh shares of multi-speciality hospital chain operator Jupiter Life Line Hospitals for ₹139 crore through open market transactions.

HDFC Mutual Fund purchased 9.37 lakh equity shares in two tranches, representing a 1.43% stake in Mumbai-based Jupiter Life Line Hospitals Ltd (JLHL), as per the data. The transaction was executed on Wednesday at an average price of ₹1,483.50 apiece, taking the combined deal value to ₹139 crore.

Meanwhile, two public shareholders of JLHL—Arvind Rao Kamini and Mitul Nitin Thakker—sold an equal number of shares at the same price, according to BSE data.

The stock of ICICI Lombard General Insurance Co. tumbled 15% to its 52-week low level on Thursday, July 16, as investors analysed the latest April to June quarter earnings report for the fiscal year ending 2026-27, which showed higher claims and expenses weighing down financial performance.

As per the NSE filings, ICICI Lombard General Insurance recorded a 46% drop in its net profit after tax (PAT) to ₹403.17 crore in the first quarter of the financial year ending 2026-27, compared year-on-year (YoY) with ₹747.08 crore in the same period a year ago.

The financial statements also showed that the insurance company’s claim payments witnessed a 20.6% YoY rise to ₹3,511.61 crore in the June quarter, from ₹2,910.54 crore in the same period a year earlier.

ABB India shares jumped 10% to hit a 52-week high level of ₹7,924.50 apiece on Thursday, July 16, after the company’s parent firm said its India business’ order book inflow grew over 81% year-on-year.

ABB Global reported its second quarter earnings on Thursday and said its total orders rose to $12,042 million, marking a 30% increase, or 28% on a comparable basis. Its revenues for the quarter came in at $9,475 million, up 14%, while comparable revenue growth stood at 12%.

The company posted income from operations of $1,585 million, translating to an operating margin of 16.7%. Operational EBITA stood at $1,925 million, with a margin of 20.2%.