NIFTY50 hits 26,100, SENSEX jumps 705 pts in noon deals; Infosys, HUL, RIL, BEL among buzzing stocks

The Indian equity market continued to trade higher in the afternoon session on Thursday, October 23, driven by a strong rally in IT, bank and FMCG stocks. The NIFTY50 index climbed above the 26,100 level for the first time since September 30, 2024.

Infosys shares were the biggest contributor, soaring 4.86%, followed by HCL Technologies (4.09%), TCS (2.95%), Shriram Finance (2.68%) and Axis Bank (2.49%).

Buzzing stocks on October 23: Check list

Shares of Infosys rallied nearly 5% to touch an intraday high of ₹1,543.90 apiece on Thursday, as the IT services firm’s promoters and promoter group, including Nandan M Nilekani and Sudha Murty, have decided not to participate in the company's ₹18,000 crore share buyback.

"...the Promoter and Promoter Group of the Company have expressed their intention of not participating in the Buyback vide their letters dated September 14, 2025, September 16, 2025, September 17, 2025, September 18, 2025, and September 19, 2025," the company said in a regulatory filing.

The promoters collectively hold 13.05% of the company's equity as of the buyback announcement date.

"Pursuant to the proposed buyback and depending on the response to the buyback, the voting rights of the promoters and promoter group in the company, which constitute 13.05% as of the date of the public announcement, may change," Infosys added.

Infosys promoters include company co-founder N R Narayana Murthy's wife, Sudha N Murty; daughter, Akshata Murty; and son, Rohan Murty. It also includes company co-founder Nandan Nilekani, his wife Rohini Nilekani, and children Nihar and Janhavi Nilekani. Other co-founders and their families are also promoters of the company.

At 12:40 PM, Infosys shares were trading at ₹1,542 apiece, surging 4.73% on NSE.

HUL shares climbed 3% to an intraday high of ₹2,667.20 apiece after the FMCG major reported a 3.6% increase in its consolidated net profit at ₹2,685 crore for the quarter ended September 30 of fiscal year 2025-26 as compared to ₹2,591 crore in the same quarter of the previous fiscal year.

The company’s revenue from operation stood at ₹16,034 crore in Q2 FY26 in contrast to ₹15,703 crore in the corresponding quarter of last year, marking a growth of 2.1%.

On the operation level, HUL’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) marginally declined by 1.3% at ₹3,522 crore in the reporting quarter as against ₹3,570 crore in Q2 FY25. The margin, however, contracted to 21.97% in Q2 FY26 in contrast to 22.73% YoY.

The FMCG firm has also announced an interim dividend of ₹19 per equity share of face value of ₹1 each for FY26. The record date to determine shareholders eligible for the interim dividend has been set for November 7, 2025, and the dividend will be paid on November 20, 2025, HUL said.

Following the earnings, HUL shares were trading 1.01% higher at ₹2,617.80 apiece on the NSE at 12:53 PM.

Bharat Electronics (BEL) shares advanced 1.14% to an intraday high of ₹422.50 apiece, as the Navratna Defence PSU firm has received an order worth ₹633 crore from Cochin Shipyard Limited.

The order includes the supply of items required for various sensors, weapon equipment, fire control systems and communication equipment supplied by Bharat Electronics (BEL).

At 12:56 PM, BEL shares were seen at ₹421.40 apiece on NSE, up 0.89%. The stock gained 2% in the last five trading sessions and jumped more than 4% over the month. It surged 38% over a period of six months. On a year-to-date basis, it has advanced 43%.

While the scrip reached a 52-week high of ₹436 on July 1, 2025, it touched a year’s low of ₹240.25 per equity share on February 19, 2025.

Shares of Bharat Forge climbed as much as 5.44% to an intra-day high of ₹1,311 apiece on Thursday, following reports that the Indian Army has signed a ₹2,700 crore deal to procure 4.25 lakh close-quarter carbines, of which 60% will be provided by Bharat Forge.

At around 1 PM, the stock was trading 4.83% higher at ₹1,303.50 per equity share.

According to reports, the Indian Army will purchase 2.5 lakh close quarters from Bharat Forge and the remaining from PLR Systems. The carbines will be replacing vintage Sterling rifles.

The defence companies will start delivering the guns from next year onwards, it added.

Another news report suggested that RIL has stepped up purchases of Middle Eastern crude oil in recent days, potentially indicating a shift in its sourcing strategy amid mounting geopolitical pressures.

Meanwhile, US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.

At 1:08 PM, RIL shares were trading at ₹1,469.50 apiece on NSE, rising 0.29%.

Shares of EPack Prefab Technologies, which provides turnkey solutions for pre-engineered steel buildings, skyrocketed on Thursday after the company released its earnings for the quarter ended September 30, 2025.

Its consolidated profit after tax (PAT) advanced 104.3% to ₹29.46 crore in the second quarter of the financial year 2025-26, compared to ₹14.42 crore a year back.

The company's revenue from operations surged 61.88% to ₹433.93 crore in the latest July-September quarter as against ₹268.05 crore in the same period of the previous fiscal year.

The stock was trading 17.26% higher at ₹238.56 apiece on NSE at the time of writing the article.

Punjab National Bank (PNB) shares surged 2.15% to hit its 52-week high of ₹120.20 apiece on Thursday, as the lender has divested a 10% stake in Canara HSBC Life Insurance Company Limited (an associate company of the bank) through an offer for sale (OFS) in an initial public offering, from 23% to 13%.

The state-owned lender has raised around ₹1,007 crore by selling 9.5 crore shares at ₹106 per share, the bank said in a regulatory filing.

The bank clarified that the buyers were members of the public and that the transaction does not qualify as a related-party deal. The OFS was conducted on October 17, 2025, coinciding with the insurer’s market debut.

At 1:12 PM, PNB shares were trading at ₹118.99 apiece on NSE, gaining 1.12%.