NIFTY50 at 25,986, SENSEX rises 290 points in afternoon session; SBI, Groww, Tata Motors PV among buzzing stocks

The Indian equity market extended its gains in the afternoon session on Monday, November 17, led by a strong rally in banking stocks that pushed Nifty Bank to a record high. The Nifty Midcap 100 index also reached an all-time high of 61,156.65 during the session.

Bajaj Auto shares were the biggest contributor, rising 1.72%, followed by Shriram Finance (1.42%), Eicher Motors (1.28%), Kotak Mahindra Bank (1.22%) and Mahindra & Mahindra (1.19%).

Buzzing stocks on November 17: Check list

Tata Motors PV

Shares of Tata Motors Passenger Vehicles (TMPV) crashed as much as 7.2% to an intraday low of ₹363 apiece on Monday. The stock took a hit after the company posted a weak set of numbers for the quarter gone by, owing to a dismal showing by its flagship arm, Jaguar Land Rover (JLR).

However, the stock saw some recovery as the trade progressed. Last seen, the shares of the company were trading 4.37% lower at ₹374.1 apiece on the NSE. The stock of the recently demerged entity of the Tata Motors conglomerate started trading its shares on the BSE and NSE as a separate business in October 2025.

Analysts tracking the business, as per news reports, have termed the September quarter numbers as one of the company's “worst financial performances in recent times.” Analysts further noted that the management expects PV ICE profitability to remain muted for one more quarter due to continued pricing pressure led by competitive intensity and commodity inflation before improving in Q4, driven by the Sierra launch and also the expectation of price hikes w.e.f. January 2026.

JLR revenue was down by 24.3% to 4.9 billion pounds. All JLR metrics were significantly impacted by the cyber incident, which resulted in EBIT margins of (-) 8.6%.

IRB Infrastructure Developers

IRB Infrastructure Developers shares rallied 7% to touch an intraday high of ₹45.95 apiece on Monday as IRB Infrastructure Trust secured orders from NHAI in Uttar Pradesh for an upfront consideration of ₹9,270 crore.

IRB Infrastructure Trust has received a Letter of Award from NHAI for a bundle covering 366 km of the Lucknow-Ayodhya-Gorakhpur corridor on NH-27 and part of the Lucknow-Varanasi corridor on NH-731 for a revenue-linked concession period of 20 years, IRB Infrastructure Developers, the manager for the project, said.

“The TOT 17 project is a pivotal accomplishment for us given the importance of this religious tourism corridor. With this award, the IRB platform now commands a riveting 42% market share in the TOT space,” said Virendra D Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers.

Shares of IRB Infrastructure were trading at ₹45.07 apiece on NSE at 12:23 PM, surging 4.91%.

Kotak Mahindra Bank

Shares of Kotak Mahindra Bank surged nearly 2% to touch an intraday high of ₹2119.90 apiece on Monday, as the private lender will be considering a stock split.

The Mumbai-based bank in a regulatory filing said it will “consider a proposal for sub-division (split) of the existing equity shares of the Bank having a face value of ₹5/- each, fully paid-up, in such manner as may be determined by the Board of Directors.”

Kotak Mahindra Bank’s board of directors will meet on November 21 to discuss and consider the stock split.

On Monday, Kotak Mahindra Bank shares opened at ₹2,095 apiece. At 12:25 PM, the stock was trading at ₹2,104.20 per share on NSE, rising 1.18%.

Over a month’s period, Kotak shares have lost 4.5%, while from the beginning of the year, they have rallied 18%.

SpiceJet

SpiceJet shares soar 7% to touch an intraday high of ₹37.90 apiece on Monday as the budget airline plans to double its operational fleet and nearly triple its Available Seat Kilometres (ASKM) by the end of this year.

In its investor presentation, SpiceJet said it plans to return up to eight grounded Boeing aircraft to service by April 2026. This includes bringing four back during the early winter period to meet peak travel demand. Two aircraft have already rejoined the fleet, up to two more are expected by December 2025, and the remaining four are scheduled to return by early summer 2026.

The airline has also firmed up damp-lease agreements for 19 aircraft scheduled to join the fleet between October and November 2025. 

Further, SpiceJet expects higher capacity and improved aircraft utilisation to significantly reduce its Cost per Available Seat Kilometre (CASK) and boost overall profitability. 

 At 11:50 AM, the stock was seen at ₹37.69 apiece on BSE, surging 6.23%.

Groww

Shares of stockbroking app Groww's parent, Billionbrains Garage Ventures, continued its positive run on Monday. extending it for the third consecutive day.

The stock climbed as much as 14.31% to ₹169.79 per unit on NSE. At 12:28 PM, it is up 13.18% to ₹168.11. The company's market valuation stands at ₹103,315.14 crore. The scrip has advanced 69.79% over the issue price of ₹100 per share at the intraday level.

On November 12, Billionbrains Garage Ventures debuted at ₹112, a premium of 12% over the issue price. The IPO, which had a price range of ₹95 to ₹100 per share, comprised new equity shares worth ₹1,060 crore as well as an offer-for-sale (OFS) component of ₹5,572.30 crore.

The initial share sale was subscribed 17.60 times during the three-day bidding period.

State Bank of India

Shares of State Bank of India (SBI) rose nearly 1% to hit a 52-week high of ₹976 apiece on Monday amid news reports that the state-run lender is supportive of another wave of mergers among public sector banks (PSBs) as “policymakers explore ways to build scale and finance growth in the world’s fastest-growing major economy.”

A Bloomberg News report on November 14 said that SBI Chairman Challa Sreenivasulu Setty has said that “Some further rationalisation might make sense. There are still some smaller, sub-scale banks,” Setty said, in an interview with Bloomberg News in Mumbai.

“If another round happens, it may not be a bad idea,” a Bloomberg News report said.

India, the report said, is discussing options to create large state lenders, which aligns with the government’s need to fund massive infrastructure and industrial projects in Asia’s third-largest economy. Prime Minister Narendra Modi has set a target to transform India into a developed economy by 2047.

While the plan is yet to be finalised, the mergers will be done in 2-3 tranches and not in one go, Informist reported, quoting the finance ministry official.

At 12:32 PM, SBI shares were trading at ₹973.35 apiece on NSE, gaining 0.57%.

Marico

Shares of homegrown FMCG major Marico hit their all-time high level on Monday after the company posted its earnings for the September quarter of the financial year 2025-26.

Intraday, the stock rose as much as 3.51% to ₹764.65 a unit, its record level. At 12:37 PM, it was up 2.89% to ₹760 apiece. The company's market capitalisation stands at ₹98,643.11 crore.

FMCG major had reported a marginal dip of 1% in its consolidated net profit at ₹420 crore for the quarter ended September 30, 2025. The company’s net profit for the September quarter of financial year 2024-25 was at ₹423 crore.

Its revenue from operations for Q2 FY26 stood at ₹3,482 crore, increasing 31% year-on-year (YoY) from ₹2,664 crore in the same period of the previous fiscal year.

On an operational level, Marico’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 7.3% to ₹560 crore in Q2 FY26 as against ₹522 crore in Q2 FY25. The FMCG firm’s EBITDA margin also contracted to 16.08% for the reporting quarter in contrast to 19.59% YoY.