NIFTY50, SENSEX remain rangebound in midday session; Waaree Renewable, SBI, Ashok Leyland among buzzing stocks

The Indian stock market was trading flat in the afternoon session on Wednesday, June 16, after opening with losses tracking its Asian peers.

On the contrary, Shriram Finance (-2.46%), Eternal (-1.48%), Hero MotoCorp (-1.32%), Sun Pharma (-1.12%), and JSW Steel (-1.06%) were the top laggards on the 50-share index.

Buzzing stocks on July 16: Checklist

State Bank of India shares surged amid reports of the lender launching its ₹25,000 crore qualified institutional placement (QIP) on Wednesday.

This is the first share sale for the State Bank of India (SBI) in eight years. The bank had raised ₹15,000 crore by selling 522 million shares through the QIP route in June 2017.

At the time of writing the piece, shares of SBI were trading at ₹832.5 apiece, climbing 1.94% on the National Stock Exchange.

Shares of Dixon Technologies surged as much as 4% to an intraday high of ₹16,450 apiece on Wednesday after the firm made a new acquisition and formed a joint venture.

The electronics manufacturing services company signed a binding term sheet to acquire a 51% stake in Kunshan Q Tech Microelectronics on Tuesday.

In a separate filing, Dixon Technologies also said that it has inked a pact with Chongqing Yuhai Precision Manufacturing Co. Ltd to form a prospective joint venture (JV) in India.

Shares of Dixon Technologies were trading at ₹16,144 apiece on NSE, gaining 2.03%.

Shares of media company Network18 Media and Investments rose as much as 16.78% to hit an intraday high of ₹64.06 on the NSE a day after it reported June quarter earnings.

Network18 Media and Investments turned profitable in the first quarter of the current financial year as it reported a net profit of ₹516.17 crore as against a loss of ₹69 crore in the previous quarter and a loss of ₹75 crore in the same period last year.

The strong earnings in the June quarter came on the back of an exceptional gain of ₹587 crore arising out of its shareholding in Eenadu Television Private Limited (ETPL).

Waaree Renewable shares were trading higher as investors wait for the firm’s June quarter earnings. The firm’s shares touched an intraday high of ₹1,267.90 apiece, surging 10.5% from its previous close. The stock had touched its 52-week high during the session.

In a regulatory filing, Waaree Renewable had said its Board of Directors will meet on Thursday, July 18, 2025, to consider and approve its financial results for the quarter ended June 30, 2025.

For Q4 FY25, Waaree Renewable had reported an 83% jump in its consolidated net profit at ₹93.76 crore as compared to ₹51.31 crore in the same quarter of the previous fiscal year. Its total income increased 74.83% to ₹481.43 crore in the reporting quarter as against ₹275.35 crore in Q4FY24.

At the time of writing the piece, the stock was trading at ₹1,237.60 per share, jumping 7.93%.

Shares of non-banking financial company HDB Financial Services fell on Wednesday, a day after the company released its results for the first quarter of the financial year 2025-26.

The company posted a 2.4% fall in profit after tax at ₹568 crore for the quarter ended June 2025. Its post-tax profit was at ₹582 crore, according to a regulatory filing.

HDB Financial Services shares declined 4% to hit an intraday low of ₹809.05 apiece on the NSE. Last seen, the stock was down 2.99% to ₹816.1 per share.

ICICI Lombard shares zoomed over 2% on Wednesday, July 16, after the firm posted better revenue and profit for the quarter ended in June of the financial year 2025-26.

The general insurance company has reported a 28.7% year-on-year (YoY) increase in its net profit to ₹747 crore in the first quarter of Q1 FY26, compared to the ₹580 crore it clocked in the year-ago period.

Its net total income stood at ₹6,083 crore in the quarter under review, improving 13.7% YoY from ₹5,352 crore in the June quarter of FY25. Furthermore, its gross direct premium income (GDPI) grew by 0.6% YoY to ₹7,735 crore, as against ₹7,688 crore last year. The GDPI growth fell short of the industry growth of 8.8% YoY.

Currently, shares of ICICI Lombard were seen at ₹2,020.8 apiece, rising 1% on NSE. The firm reclaimed ₹1 lakh crore in market capitalisation for the first time since September 2024.

Shares of the Chennai-based commercial vehicle maker, Ashok Leyland, fell as much as 2.15% to hit an intraday low of ₹122.70 on NSE. The stock started trading ex-bonus in the ratio of one share for every one share held starting Wednesday.

Ashok Leyland's board had declared a bonus issue of shares on May 23 when it declared fourth-quarter results.

The company had reported a net profit of ₹1,246 crore in the January-March quarter, marking an upside of 38% from ₹900 crore in the same period last year.

Pharma major Biocon Ltd. shares jumped nearly 3% on Wednesday after receiving a significant regulatory boost from the USFDA. The stock touched a new 52-week high at ₹405.90, drawing investor attention to the company’s latest milestone.

Biocon Biologics, the biosimilars arm of Biocon Ltd., received USFDA’s approval for its rapid-acting insulin biosimilar, Kristy. This marks a crucial development, as Kristy becomes the first and only biosimilar deemed interchangeable with NovoLog (insulin aspart), a vital diabetes therapy.

Shares of Biocon are trading at ₹394.5 apiece on NSE, rising 1.05% last seen.