NIFTY50, SENSEX extend losses in midday session; Adani Ports, BHEL, Eternal among buzzing stocks

The Indian equity benchmarks extended their loss in the afternoon session on Thursday, August 7, as investors turned cautious following the additional 25% tariff imposed by the US on India.

US President Donald Trump on Wednesday slapped an additional 25% tariff on goods coming from India as a penalty for New Delhi's continued purchase of Russian oil. The move is likely to hit sectors such as textiles, marine and leather exports.

India has hit out at the decision, calling the move “unfair, unjustified and unreasonable”. The initial duty becomes effective on August 7, while the additional levy will come into effect after 21 days, or August 27.

Adani Ports declined 3.12%, taking the lead among the biggest losing stocks on the 50-share index. Adani Enterprises (-2.8%), Jio Financial Services (-1.9%), Tata Motors (-1.72%) and Apollo Hospitals (-1.53%) were the other top laggards.

On the other hand, Hero MotoCorp (1.68%), ITC (0.27%), HDFC Life Insurance (0.23%), HDFC Bank (0.19%), JSW Steel (0.18%) and Tech Mahindra (0.03%) were the only gainers in the midday session.

Buzzing stocks on August 7: Check list

Shares of Adani Ports was the biggest losing stock on the NIFTY50 index. It has tanked 3.6% to touch an intraday low of ₹1,316 per share. Last seen, the stock was down 3.58% at ₹1,318.10 apiece.

Investors became cautious of the stock after Gautam Adani exited from the key managerial role of Adani Ports. “Mr Gautam S. Adani from Executive Chairman to Non-Executive Chairman with effect from August 5, 2025, and consequently he would cease to be key managerial personnel of the Company,” Adani Ports had said while announcing its June quarter earnings.

The firm has also appointed Manish Kejriwal as an Additional Director (Non-Executive, Independent) for an initial term of three years from August 5, 2025.

The country's largest private port operator on Tuesday had reported a net profit of ₹3,314.6 crore in Q1 FY26, marking an increase of 6.5% from ₹3,113 crore logged in the same period last year. Its revenue from operations grew 31% to ₹9,126 crore in the June quarter, as against ₹6,956 crore registered in the year-ago period. The revenue growth was driven by momentum in the logistics and marine businesses.

Shares of Kotak Mahindra Bank declined nearly 2% on Thursday after a significant block deal was executed involving 1.1 crore shares, equivalent to 0.55% of the bank's total equity. The shares were traded at ₹1,974 apiece, resulting in a deal value of ₹2,134 crore.

Kotak Mahindra Bank's block deal had a floor price of ₹1,955 per share, marking a 2.4% discount from its latest closing price. Valued at around ₹2,066 crore, the deal accounts for nearly 0.5% of the bank’s total equity. JP Morgan, a global investment bank, is serving as the broker for the transaction.

Last seen, the stock was trading at ₹1,986.60 per share on NSE, falling 0.81%.

Shares of Eternal, formerly known as Zomato Ltd, slipped 3.5% to an intraday low of ₹288.40 apiece on the NSE amid news reports that Ant Group, formerly known as Ant Financial, an affiliate company of the Chinese conglomerate Alibaba Group, is likely to sell 18.8 crore shares worth ₹5,375 crore via block deals today.

Besides, another ₹8,000-₹8,500 crore worth of transactions is expected today due to the MSCI weight change in this month, a news report said, quoting analysts.

At the time of writing the report, Eternal shares were trading at ₹296.35 apiece, falling 0.82% on NSE.

Shares of state-owned Bharat Heavy Electricals Ltd (BHEL) tumbled nearly 7% on Thursday, August 7, as the firm’s net loss widened for the June quarter on higher expenses.

BHEL on Wednesday said its consolidated net loss widened to ₹455.50 crore in the June quarter of financial year 2025-26 as compared to a net loss of ₹211.40 crore in Q1 FY25.

Total expenses rose to ₹6,279.78 crore in the quarter from ₹5,874.98 crore in the same period a year ago.

However, the total income rose slightly to ₹5,658.07 crore in the quarter from ₹5,581.78 crore a year ago.

Following the earnings, BHEL shares touched an intraday low of ₹223.79 apiece on Thursday. At the time of writing the article, the stock was trading at ₹224.17 per share, declining 6.53%.

Hero MotoCorp shares jumped 2.34% to touch their intraday high of ₹4,580 apiece, as the two-wheeler maker expects demand to remain healthy in the coming quarters with the upcoming festive season and a robust line-up of new products.

The company on Wednesday reported a flat standalone net profit growth at ₹1,126 crore for the quarter ended June 30, 2025 (Q1 FY26), as compared to ₹1,123 crore in the corresponding quarter of the previous fiscal year.

The Gurugram-based firm’s revenue from operations dropped 6% to ₹9,579 crore in the reporting quarter as against ₹10,144 crore seen in the year-ago period.

“With favourable customer sentiment, the upcoming festive season and a robust pipeline of new product launches, we are confident of sustaining and driving growth in the coming quarters,” Anand further added.

The jewellery firm’s shares slipped over 2% to an intraday low of ₹577.60 apiece on NSE ahead of its June quarter earnings announcement on Thursday. Last seen, shares of Kalyan Jewellers were trading at ₹576.30 apiece on NSE, declining 2.3%.

Kalyan Jewellers is expected to report double-digit revenue growth in Q1, as indicated by the quarterly business updates.

According to Kalyan Jewellers' quarterly business numbers, the company witnessed revenue growth of 31% year-on-year in its India operations in Q1 FY26, mainly due to robust demand during Akshaya Tritiya and the wedding season. Despite volatility in gold prices due to geopolitical tensions, same-store sales growth was approximately 18%. Kalyan Jewellers launched 10 new showrooms in India, bringing its total store count to 406.

In FY26, the company plans to launch 170 showrooms across the Kalyan and Candere formats (90 Kalyan and 80 Candere in India).

Shares of Ircon International fell as much as 4.53% to an intra-day low of ₹164 apiece on NSE, a day after the company reported its first quarter earnings for the 2025-26 financial year (Q1FY26).

The turnkey construction firm’s consolidated net profit declined 26.5% year-on-year (YoY) to ₹164.56 crore in the June quarter of FY26, compared to ₹224.02 crore in the corresponding period a year earlier.

The company’s revenue from operations stood at ₹1,786.28 crore during the quarter under review, marking a 21.9% YoY slump from ₹2,287.13 crore in the June quarter of FY25.

At an operational level, Ircon’s EBITDA (earnings before interest, tax, depreciation and amortisation) decreased 9.4% YoY to ₹323.9 crore in the first quarter of the current fiscal year, as against ₹357.4 crore in Q1FY25.