NIFTY50 above 24,850, SENSEX up 244 points in noon deals; Infosys, RailTel, Kotak Mahindra Bank among buzzing stocks

The Indian stock market continued to trade positive in the afternoon session on Tuesday, September 9, led by a strong rally in IT stocks and global cues.

Infosys was the most contributing stock, gaining 4.52%, followed by Wipro (2.38%), Dr Reddy’s (2.3%), Tech Mahindra (2%) and Adani Ports (1.92%).

Buzzing stocks on September 9: Check list

Infosys shares rallied as much as 5% to an intraday high of ₹1,502.80 apiece on the NSE on Tuesday, as the IT services major’s board will meet on September 11 to consider the share buyback proposal.

"The Board of Directors (“Board”) of Infosys Limited (“Company”) will consider a proposal for buyback of fully paid-up equity shares of the Company at its meeting to be held on September 11, 2025, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended," Infosys said in a regulatory filing dated Monday.

"The outcome of the Board meeting will be disseminated to the stock exchanges after the conclusion of the Board meeting on September 11, 2025, in accordance with the applicable provisions of the LODR Regulations," the Bengaluru-based company added.

If approved, this will be the fifth share buyback to be conducted by Infosys.

At 12:20 PM, shares of Infosys were trading at ₹1,500.30 apiece, gaining 4.70%.

Shares of Glenmark Pharma surged over 3% to an intraday high of ₹2,112.60 on Tuesday after the company announced that its wholly owned subsidiary received an upfront payment of $700 million from AbbVie.

“The payment is in accordance with the agreed contractual terms and is being made towards an exclusive global licensing agreement for IGI’s lead investigational asset, ISB 2001, across North America, Europe, Japan, and Greater China markets,” Glenmark said in a regulatory filing.

Following the development, shares of Glenmark Pharma were trading at ₹2,112.80 apiece on the National Stock Exchange, gaining 2.97% at 12:22 PM.

Over the last five trading sessions, the pharma stock has climbed nearly 9%. For a month’s time it rose 3%.

Shares of pharmaceutical player Amanta Healthcare debuted at ₹135 apiece on the NSE on Tuesday. This reflects a premium of 7.14% over the IPO issue price of ₹126 per unit. On the BSE (formerly Bombay Stock Exchange), it started trading at ₹134, up 6.35% from the issue price.

A lot consisted of 119 equity shares. Retail investors who received the Amanta Healthcare IPO allotment made ₹16,065 per lot.

The initial public offering secured bids for 578,280,738 shares as against 7,000,000 shares reserved, leading to an 82.61 times subscription, as per the NSE data.

Shares of Prime Focus zoomed 10% on Tuesday to hit a 52-week high of ₹191.62 on the NSE. Shares of the company have been on a rising spree. Data show that the stock has jumped around 30% in five sessions (from Sept 3, 2025, to early rates on Tuesday, September 9.)

In the company's latest development, three Singapore-based entities on Monday divested a combined 3.8% stake in the integrated media and services company for ₹188 crore through open market transactions.

According to the block deal data available on the BSE, the three entities divested a total of 1.20 crore equity shares, representing a collective 3.87% stake in Prime Focus.

Shares of RailTel Corporation, the Navratna public sector undertaking (PSU), rallied over 6% to ₹367.80 apiece on the NSE, as the railway-linked company bagged multiple orders on Monday.

In one of its regulatory filings, the PSU stated that RailTel Corporation of India has received a work order from the State Project Director (SPD) of the Bihar Education Project Council (BEPC) for a supply amounting to ₹59.76 crore (including tax).

In another filing, the PSU said it has received the Letter of Acceptance (LOA) from the State Project Director (SPD), Bihar Education Project Council (BEPC). The order pertains to the procurement, supply, and installation of smart classrooms at government secondary and senior secondary schools.

At 12:30 PM, shares of RailTel were trading at ₹359.45 apiece, surging 3.90%.

Shares of the private lender were trading lower on Tuesday following reports of a block deal.

Sumitomo will sell 3.28 crore shares of the private lender to raise ₹6,000 crore, the channel reported, citing people with knowledge on the matter.

In August, Sumitomo had received a nod from the Reserve Bank of India to buy up to 24.99% of Yes Bank.

Shares of Kotak Mahindra Bank were trading at ₹1,945.60 apiece, slipping 0.24% on NSE.

Shares of Ujjivan Small Finance Bank zoomed 7.7% on NSE to an intra-day high of ₹47.57 apiece on Tuesday.

This comes after its Managing Director and Chief Executive, Sanjeev Nautiyal, told reporters on Monday that the bank is aiming to raise ₹2,000 crore capital via the qualified institutional placements (QIP) route.

The microlender-turned-SFB also announced a slew of business plans, including expansion of the branch network to 1,150 from the present 752 and a nearly three-times growth in the loan book over the next five years.

At the time of writing the piece, shares of the Ujjivan SFB were trading at ₹47.17 apiece, surging 6.79%.