NIFTY50 at 25,320, SENSEX down 396 pts in noon deals; Vodafone Idea, Redington, Kaynes Tech among buzzing stocks

The Indian stock market continued to remain under pressure, snapping its three-day rally on Friday, September 19, dragged down by IT and FMCG stocks. Market investors turn cautious with India and the US trade negotiations underway.

HDFC Bank was the biggest laggard, falling 1.43%, followed by HCL Technologies (-1.39%), Titan (-1.38%), ICICI Bank (-1.27%) and Infosys (-1.26%).

Vodafone Idea (VI) shares surged over 11% to an intraday high of ₹8.71 apiece on Friday as the Supreme Court deferred hearing the debt-laden telecom firm’s plea on AGR dues.

The telecom company had moved to the Supreme Court seeking reassessment of additional adjusted gross revenue (AGR) dues last week.

According to a news report, the company’s counsels had urged the court for an early hearing of the matter.

Vodafone Idea owes nearly ₹83,400 crore in AGR dues, and the annual payments currently stand at ₹18,000 crore, scheduled from March 2026. When combined with interest and penalties, Vodafone Idea’s dues stand at more than ₹2 lakh crore.

At 12:35 PM, Vodafone Idea shares were trading at ₹8.65 apiece on the National Stock Exchange, gaining 10.33%.

Shares of Redington, the official reseller and distributor of Apple products in India such as iPhones, Macs and iPads, rose as much as 7.37% to hit an intraday high of ₹309.40 on the NSE after reports suggested that the sale of the iPhone 17, which went live today, drew a huge rush at Apple stores in Mumbai, Delhi and Bengaluru.

Customers thronged the Apple store in Bengaluru on Friday morning as the company's iPhone 17 series went on sale.

Excited shoppers queued up early outside the recently opened Apple Hebbal store in Mall of Asia to purchase the newly launched iPhone 17 lineup along with the latest Apple Watch and AirPods, news agency Press Trust of India reported.

Similar scenes were visible in Mumbai, where a massive crowd gathered overnight outside the Apple store in Bandra Kurla Complex (BKC) with people waiting to buy the latest iPhone.

Apple unveiled the iPhone 17 series in the price range of ₹82,900 to ₹229,900.

At the time of writing the piece, Redington shares were trading at ₹304.60 apiece on NSE, rising 5.71%.

Adani Group stocks were on investors’ radar on Friday following capital markets regulator SEBI's ruling. SEBI, in its final order on Thursday, cleared Gautam Adani and his group of stock manipulation allegations made by US short-seller Hindenburg Research.

SEBI said it found no evidence that the conglomerate used related parties to route funds into its listed companies.

Shares of the Adani Group were trading with impressive gains. For instance, Adani Power shares zoomed over 13% to an intraday high of ₹716.50 apiece on the NSE, while Adani Enterprises rallied 5.35% to ₹2,530.60. Adani Total Gas shares jumped 13.31% to ₹687.75 apiece on the NSE.

Adani Green Energy shares surged 7.7% to ₹1,054.80 apiece on the NSE, while Adani Ports and Special Economic Zone were trading 2.69% higher at ₹1,450.90 on the NSE. ACC Ltd shares were up nearly 1% at ₹1,873 apiece on the NSE, while Ambuja Cements was up 0.69% at ₹584.75. Adani Energy Solutions had rallied 6.27%.

Shares of Kaynes Technology witnessed a sudden sharp fall in the morning deals on Friday, September 19, after the company said in its regulatory filing that its CEO has tendered resignation.

The stock price dropped as much as 4.78% to ₹6,882 on the NSE. However, the scrip recovered later, and last seen, shares were trading at ₹7,074.50, down over 2%.

The company said that Rajesh Sharma – chief executive officer (CEO) and key managerial personnel – has tendered his resignation from the office of chief executive officer of the company to pursue opportunities outside the organisation.

His resignation will be effective from the close of business hours on October 31, 2025.

Shares of Texmaco Rail & Engineering surged nearly 4% to an intraday high of ₹153 apiece on Friday, September 19, as the company bagged an order worth ₹86.85 crore from UltraTech Cement for BCFC waggons along with a brake van.

The order is expected to be delivered by March 2026.

Last week, the company had received a Letter of Acceptance (LoA) from Rail Vikas Nigam Limited for the Nagpur Project.

The project is worth ₹129.09 crore, including taxes. It involves the design, supply, erection, testing and commissioning of 2*25 kV traction overhead equipment and related works at the Yavatmal-Digras section of Central Railway’s Nagpur Division.

At 12:57 AM, shares of Texmaco Rail & Engineering were trading at ₹148.57 apiece on the NSE, rising 0.66%.

Shares of One Mobikwik Systems slipped as much as 2.6% to an intra-day low of ₹293.93 apiece on NSE on Friday. The stock was trading 2.05% lower at ₹295.64 per equity share as of 1 PM.

This comes after the digital banking platform confirmed that a technical glitch led to unauthorised payouts to some merchants in and around the Nuh district of Haryana last week, on September 11-12, as stated in a regulatory filing on Thursday.

As per a police report accessed by news agency PTI, more than ₹40 crore was syphoned off from the company due to the glitch.

Upon identifying the technical error, which incorrectly marked failed transactions as successful, the company took corrective actions and resolved the issue within 45 minutes in the early hours of September 12.

Shares of JSW Energy Ltd gained 2.64% to touch an intraday high of ₹552 apiece on the NSE on Friday. The stock rallied following two corporate announcements the company made on Thursday, post-market hours.

In its regulatory filing, the company said that JSW Neo Energy Limited, its wholly owned subsidiary, signed an agreement with Statkraft IH Holding AS to acquire 100% equity in Tidong Power Generation Pvt. Ltd (TPGPL) on September 18.

In a separate development, JSW Energy, the power arm of the JSW Group, announced it will acquire GE Power India’s boiler manufacturing unit through a strategic demerger to strengthen its thermal power business.

At 1 PM, JSW Energy shares were trading at ₹544.75 apiece, rising 1.29%.