NIFTY50 below 25,900, SENSEX down 385 pts in noon deals; Axis Bank, HDFC Bank, Meesho among buzzing stocks

The Indian equity benchmark indices continued to trade lower in the afternoon session on Tuesday, December 16, weighed down by metal and IT stocks amid weak global cues.

Axis Bank shares were the biggest laggard, losing 3.66%, followed by Eternal (-3.22%), HCL Technologies (-2.14%), JSW Steel (-1.68%) and Tata Steel (-1.63%).

Buzzing stocks on November 16: Check list

Axis Bank shares are in the spotlight today, falling over 4.1% intraday on NSE after Citi Research released its latest report on the private lender.

As of 12:30 PM, Axis Bank shares are trading around ₹1,235.80 apiece, down 3.81% with a day low of ₹1,228.40 per share and a day high of ₹1,277.6 apiece. This fall comes after Citi Research's latest report said Axis Bank’s net interest margin (NIM) recovery could take longer than previous management guidance and could be delayed to Q4FY26 or Q1FY27, instead of the earlier guidance of Q3FY26.

As a result, Axis Bank stock saw a sharp decline today and was among the top NIFTY50 losers and also dragged down the NIFTY Bank index, which is down nearly 1% with 10 out of the 12 constituents trading in the red.

Shares of recently listed e-commerce firm Meesho were buzzing on Tuesday. The stock, which made a remarkable market debut on December 10, jumped as much as 13.28% to hit a record high of ₹193.44 on the NSE during the day.

Shares of the company last week made a stellar debut by listing with a premium of more than 46% against the issue price of ₹111. The stock started trading at ₹162.50, up 46.40% from the issue price on the NSE. Later, it jumped 55.58% to ₹172.70.

On the BSE, the stock made its market debut at ₹161.20, registering a jump of 45.22%.

Taking into account today's all-time high level on the NSE, the scrip has rallied 74% from the issue price of ₹111.

Bharti Airtel shares gained as much as 2% to an intraday high of ₹2,103.50 on Tuesday as Morgan Stanley shared a positive outlook for the firm.

In a note, Morgan Stanley analysts said the telecom major’s premium valuations are likely to be sustained. They also expect the industry’s recovery phase to continue in the near term.

For the medium term, the global bank sees multiple drivers for organic growth in Bharti Airtel’s average revenue per user (ARPU), lifting it to the mid-single digits. This is expected to drive double-digit growth in the company’s India business. Analysts also see Airtel’s sustainable return ratio improving to over 20%.

At 11:45 AM, Bharti Airtel shares were trading at ₹2,088.50 apiece on the National Stock Exchange, gaining 0.91%. Since the beginning of 2025, Airtel shares have rallied over 31%.

Shares of HDFC Bank were trading flat with a negative bias in the early trade on Tuesday, at ₹994.60 apiece on the NSE.

The banking giant, in its regulatory filing on Monday, said that the Reserve Bank of India (RBI) has given its approval to the bank (being the promoter/sponsor of its group entities) to acquire an “aggregate holding” of up to 9.50% of the paid-up share capital or voting rights in IndusInd Bank.

The group entities include HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited.

"We further wish to inform you that the said approval is valid for a period of one year from the date of RBI’s letter, i.e., till December 14, 2026. Further, the bank needs to ensure that the "aggregate holding" in IndusInd does not exceed 9.50% of the paid-up share capital or voting rights of IndusInd at all times," the filing added.

Shares of HDFC Bank have given around 3% returns in the past six months and 11.6% so far in 2025. In the past 12 months, the stock has risen 6.69% on the NSE (as of the December 15 closing).

At 12:24 PM, HDFC Bank shares were seen at ₹992.20 apiece on NSE, falling 0.39%.

Shares of Tata Power were trading lower on Tuesday as the Tata Group company said it was aiming at a capex of ₹25,000 crore in the current fiscal year and will look to maintain the same annual spend till FY30.

As per an investor presentation, 65% of the capex is aimed at clean energy projects.

Tata Power, which made a capital expenditure (capex) of ₹17,273 crore in FY25, almost doubled the same to ₹25,000 crore in FY26. The total capex estimated between FY26 and FY30 is ₹1.25 lakh crore, with ₹25,000 crore spent annually, as per the presentation.

In an interaction, Sinha said, "We are well poised to achieve our aspirations."

At 12:22 PM, Tata Power shares were trading at ₹379.85 apiece on the National Stock Exchange, falling 0.47%.

Shares of the private lender slipped more than 2% to an intraday low of ₹297.40 apiece on Tuesday as the bank’s chief financial officer stepped down.

“…we hereby inform you that Mr Buvanesh Tharashankar, Chief Financial Officer, being Key Managerial Personnel and part of the Senior Management of RBL Bank Limited (“the Bank”), has tendered his resignation in order to pursue opportunities outside the Bank,” RBL Bank had said in a regulatory filing.

As per the succession plan approved by the board, RBL Bank has an identified interim successor in place for this position.

At 12:27 PM, RBL Bank shares were trading at ₹299.05 apiece on NSE, declining 1.73%.

SEPC shares jumped nearly 8% to touch an intraday high of ₹10.98 on Tuesday as the firm bagged a subcontract for the Ajmer-Chanderiya railway doubling project.

The EPC firm has bagged a railway infrastructure project worth ₹269.69 crore under the Ajmer–Chanderiya Doubling Project of the Ajmer Division, North Western Railway (NWR).

“The project has been awarded to the VPRPL–SBEL Joint Venture, with SEPC Limited responsible for execution of the project works under the control and supervision of the Joint Venture, in line with the Letter of Award issued by North Western Railway,” SEPC said in a regulatory filing.

 At 12:30 PM, SEPC shares were trading at ₹10.54 apiece on NSE, gaining 3.33%.