NIFTY50 below 25,800, SENSEX falls 544 points in noon deals; Tata Motors, L&T, Sun Pharma among buzzing stocks

Indian equity benchmark indices remained under pressure in the afternoon session on Friday, September 26, weighed down by weakness in pharma stocks amid renewed tariff concerns. Further, continued outflow by the foreign investors and weak global cues also dented the market sentiment.

IndusInd Bank was the biggest laggard on the 50-share index, tumbling 2.94%, followed by Sun Pharma (-2.78%), Mahindra & Mahindra (-2.19%), Tata Steel (-2.05%) and Tech Mahindra (-2.05%).

On the flip side, L&T (3.95%), Tata Motors (2.21%), Eicher Motors (1.06%), Hero MotoCorp (1.05%) and ITC (0.57%) were the biggest-gaining stocks on the 50-share index.

Buzzing stocks on September 26: Check list

Amid widespread selling in the equity market, Larsen & Toubro (L&T) shares were trading over 3% higher at ₹3,760.20 apiece on the NSE in the morning deals on Friday, September 26, and were the top gainer on the benchmark NIFTY50 index.

The reason behind the outperformance of the infrastructure major's stock is the news report that the Telangana government has agreed to take over Phase I of the Hyderabad Metro Rail project from L&T Group by paying ₹2,000 crore for the equity in the concessionaire L&T Metro Rail Hyderabad Ltd. 

It was agreed that the state government would also take over the company's debt of ₹13,000 crore, said a PTI report.L&T has about 90% equity in the project. 

At 12:32 PM, shares of the infrastructure major were trading at ₹3,776 apiece on NSE, rising 3.61%.

Vodafone Idea (VI) shares fell 9% to an intraday low of ₹7.90 on Friday after the Supreme Court postponed the hearing on the company’s adjusted gross revenue (AGR) case to October 6, 2025, as the government borrowed more time to respond.

Last week, the top court had deferred hearing the debt-laden telecom firm’s plea. According to a news report, the government had told the Supreme Court that it is not opposing VI’s plea; however, some solutions are required.

The telecom company had moved to the Supreme Court seeking reassessment of additional AGR this month.

At 12:33 PM, shares of Vodafone Idea were trading at ₹8.13 apiece on NSE, slumping 6.34%.

RITES Limited shares zoomed 7% to touch an intraday high of ₹270 apiece on Friday as the Navratna PSU firm bagged an international order worth $18 million from Talis Logistics, South Africa.

The order includes the supply and commissioning of overhauled in-service Cape Gauge ALCO diesel-electric locomotives.

“The delivery of the locomotives will be completed within six to eight months from the receipt of advance,” RITES said in a regulatory filing.

At 12:34 PM, RITES shares were trading at ₹257.62 apiece on NSE, gaining 2.11%.

Shares of the pharma major hit their 52-week low of ₹1,548 apiece on the NSE as all pharma shares tumbled after US President Donald Trump announced a 100% tariff on any branded or patented pharmaceutical product, unless a company is building their pharmaceutical manufacturing plant in America.

In his social media post on Truth Social, the US president announced that starting October 1, 2025, his administration would impose a 100% tariff on all branded or patented pharmaceutical products unless the manufacturer is actively building a production facility in the United States. He clarified that companies with plants “breaking ground” or already “under construction” would be exempt from the tariff.

According to experts, the impact on the Indian pharma companies is expected to be limited because most Indian firms export generic drugs to the US. However, companies such as Sun Pharma are likely to take a deeper cut as they are in the speciality segment.

At 12:35 PM, Sun Pharma shares were trading at ₹1,577.60 apiece on NSE, losing 3.06%. The stock has declined nearly 5% today to its day’s low. Nifty Pharma was trading down 2.13%.

Tata Motors shares surged 2.4% to an intraday high of ₹680.35 apiece on Friday as the auto firm said it is beginning a phased restart of operations at its JLR plant in the UK after it was hit by a cyberattack.

 “As part of the controlled, phased restart of our operations, today we have informed colleagues, suppliers, and retail partners that sanctions of our digital estate are now up and running. The foundational work of our recovery programme is firmly underway,” Tata Motors said in a statement on September 25.

The auto major also said that it has increased IT processing capacity for invoicing and is also working to clear the backlog of payments to suppliers as soon as possible.

The financial system Tata Motors uses to process the wholesale of vehicles has been brought back online, and the carmaker is able to sell and register vehicles, delivering important cash flow.

At 12:44 PM, Tata Motors shares were trading at ₹677.75 per share, climbing 2.02% on NSE. It was one of the top gainers on the 50-share index.

 Shares of solar-powered agricultural water pump systems provider GK Energy made a strong debut on the bourses on Friday.

The stock listed at ₹171 apiece on the National Stock Exchange (NSE), reflecting a premium of 11.76% over the IPO issue price of ₹153 per share.

At 12:46 PM, the scrip was down 0.20% to ₹170.65. The market capitalisation stands at ₹3,442.62 crore.

The minimum investment for retail investors was 98 shares. Investors who received the GK Energy IPO allotment made ₹16,758 per lot.

The ₹464.26 crore initial share sale, which had set a price band of ₹145 to ₹153 per share, consisted of new equity shares aggregating to ₹400 crore and an offer-for-sale component worth ₹64.26 crore.

The initial share sale received a whopping 89.62 times subscription, with bids for 19,877,789,82 equity shares as against 22,180,828 shares on offer, as per data available on the stock exchanges.