NIFTY50, SENSEX extend fall in midday session; HCL Tech, Ola Electric, Castrol India among buzzing stocks

Among major losing stocks on the 50-share index, Wipro took the lead at the time of writing this article, falling 2.19%. Tech Mahindra (-2.12%), Jio Financial Services (-1.71%), Infosys (-1.71%), and HCL Technologies (-1.61%) were the other top losers in the afternoon session.

Ola Electric shares surged after the company said that its auto gross margins improved massively to 25.6% in the June quarter as against 13.8% in the year-ago period.

Bhavish Aggarwal-led Ola Electric Mobility reported a consolidated net loss of ₹428 crore for the April-June quarter of the financial year 2025-26 on Monday, July 14. The firm had reported a net loss of ₹347 crore in the same period last year.

Ola’s revenue from operations stood at ₹828 crore in Q1 FY26, declining 50% from ₹1,644 crore in Q1 FY25.

The company’s EBITDA loss for the reporting quarter stood at ₹237 crore in contrast to ₹205 crore year-on-year (YoY).

However, the stock gained momentum later and was seen trading higher in the afternoon session. Last seen, VIP Industries shares were trading at ₹465.60 apiece, rising 1.98% on NSE.

The deal will see promoter entities—Kemp and Company, DGP Securities, Kiddy Plast, Piramal Vibhuti Investments, and Alcon Finance & Investment—offload up to 45,446,305 equity shares to a consortium led by Multiples PE Fund IV, Multiples Gift Fund IV, Samvibhag Securities, and individual investors Mithun Padam Sacheti and Siddhartha Sacheti, Business Standard reported.

In an exchange filing, the information technology services firm said its board of directors will meet on Monday to "consider and approve the quarterly unaudited financial results of the company for the period ended June 2025 and dividend."

The Noida-headquartered company will hold its earnings call for investors and analysts on July 14 at 8 pm for 60 minutes to discuss the Q1 report card, followed by a detailed question-and-answer session.

Last seen, HCL Technologies shares were trading at ₹1,614.30 apiece, slipping 1.46% on NSE.

Shares of Castrol India soared almost 6% on Monday to hit an intraday high of ₹232.43 apiece on NSE after the company won victory in a ₹4,131 crore tax dispute case with the Maharashtra Sales Tax Department (MSTD). 

At the time of writing the piece, Castro India shares were trading at ₹227.60 apiece, gaining 3.51%.

The stock listed at ₹1,125, a premium of 2.27% above the issue price of ₹1,100 per share. It started trading on the BSE at ₹1,126.2, up 2.38%.

In the afternoon, the Dmart promoter shares were trading at ₹4,010.60 apiece on the National Stock Exchange, declining 1.31%. The stock has touched an intraday low of ₹3,930 per share so far, marking a 3.3% fall from its previous close.

Avenue Supermarts reported a marginal decline in its consolidated net profit at ₹773 crore for the April to June quarter of financial year 2025-26. The retail firm had seen a net profit of ₹774 crore in the same period last fiscal year.

The company revenue from operations, however, grew 16.3% year-on-year (YoY) at ₹16,358.7 crore in contrast to ₹14,069 crore in Q1 FY25.

In an exchange filing on Friday, the firm said that its board meeting will be held on July 21 to consider the subdivision/split of equity shares of the company.

At 12:30, BEML shares were up 1.2% at ₹4,482 apiece on the National Stock Exchange.