NIFTY50, SENSEX trade lower in midday session; PC Jeweller, JP Power, Nykaa, Dabur among buzzing stocks

The equity benchmark indices SENSEX and NIFTY50 continued to remain under pressure in the afternoon session on Monday, July 7, amid trade deal uncertainties.

On the NIFTY50 index, Eternal was the biggest laggard, falling 1.87%, followed by Tech Mahindra (-1.82%), Bharat Electronics (-1.75%), Hindalco Industries (-1.47%), and UltraTech Cement (-1.4%).

On the other side, shares of Hindustan Unilever (3.01%), Tata Consumer Products (1.12%), Eicher Motors (1.02%), Jio Financial Services (0.97%), and ITC (0.93%) were the top gainers on the 50-share index.

Shares of JP Power zoomed over 15% on Monday amid reports of Adani Group leading the race to acquire Jaiprakash Associates.

According to exchange data, Jaiprakash Associates holds a 24% stake in JP Power. This is leading to the rally for the second session for the power firm.

Last week, Business Standard had reported that the Adani group had emerged as the lead bidder to acquire Jaiprakash Associates Ltd. (JAL), which is undergoing insolvency proceedings, with a bid of up to ₹12,500 crore.

Last seen, Jaiprakash Power Ventures (JP Power) shares were trading at ₹21.94 apiece, soaring 15.78%. It had touched an intraday high of ₹21.95 apiece on the National Stock Exchange.

In its June quarter (Q1 FY26) business update, FSN E-Commerce Ventures, the parent company of Nykaa, said it started FY26 on a good note, with Q1 FY26’s consolidated net revenue growth expected to be at the lower end of the mid-twenties. GMV growth is expected to be higher, crossing the mid-twenties, indicating consistent momentum over several quarters.

E-commerce GMV (Gross Merchandise Value) growth refers to the increase in the total value of goods sold through e-commerce platforms.

Reacting to the numbers, the stock of Nykaa rose as much as 2.10% to ₹202.4 on the NSE in early trades. Last seen, the stock was trading at ₹200.86 per share, rising 1.33%.

Shares of PC Jeweller continued with their rally for the second straight day after the firm reported around 80% growth in revenue during the April-June quarter of this financial year on strong demand despite volatility in gold prices and said it will become debt-free this fiscal year.

At 12:23 PM, the stock was trading at ₹18.99 apiece, surging 13.78% on NSE.

The company saw high demand for its products, as consumers purchased jewellery for weddings and festivals.

Shares of Borosil Renewables were trading 2.89% higher at ₹511.45 apiece on NSE after its German subsidiary GMB Glasmanufaktur Brandenburg GmbH filed for insolvency under the German Insolvency Code (InsO) before the jurisdictional court at Cottbus.

The decision follows a prolonged period of deteriorating market conditions in the European solar manufacturing ecosystem and reflects the company's intent to sharpen strategic focus on the rapidly growing Indian solar sector, the company said in a statement.

Borosil Renewables Ltd. has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under the German Insolvency Code (InsO) before the jurisdictional court at Cottbus, according to the statement.

Shares of Senco Gold hit the upper circuit of ₹367.35 apiece on Monday, July 7, after the jewellery maker shared its April-June (Q1) quarter earnings update.

The company said that FY26 began on a strong footing, with Q1 delivering robust growth momentum driven by a favourable festive calendar.

Akshay Tritiya and key regional festivals such as Poila Baishakh (West Bengal), Baisakhi (Punjab), and Bihu (Assam) and Ramnavmi served as strong consumption levers fuelling footfall, resulting in ~ 28% total revenue growth, 24% year-on-year (YoY) retail revenue growth, and 19% same-store sales growth (SSSG—at the secondary sales level) for Senco.

During the quarter, the jewellery firm expanded its showrooms by launching 9 new ones, taking its jewellery store portfolio to 179.

Last seen, the stock was trading at ₹366.70 per share, jumping 4.8% on the National Stock Exchange (NSE).

FMCG firm Dabur Limited witnessed a rally on Monday after the company shared its June quarter earnings update last Friday.

At 12:33 PM, Dabur shares were trading at ₹516.2 apiece on NSE, surging 4.26%.

The FMCG company said that during the quarter, the Indian FMCG sector witnessed a sequential recovery in demand with an uptick in volume growth, particularly in urban markets.

Dabur's Home and Personal Care (HPC) division is expected to perform well, driven by the oral, home, and skin care categories. Key brands such as Dabur Red Toothpaste, Odonil, Odomos, and Gulabari are expected to post strong growth coupled with market share gains.

Within healthcare our brands such as Dabur Honey, Hajmola, Dabur Honitus, and Dabur Health Juices are expected to post robust double-digit growth. Dabur Honitus is expected to perform exceedingly well with over 40% growth.