NIFTY, SENSEX slip over 0.7%; Reliance Industries, Axis Bank, Garuda Construction, Godrej Properties among buzzing stocks

Equity benchmark indices NIFTY and SENSEX slumped on Friday, July 18, dragged by foreign fund outflows and a muted start to the earnings season.

SENSEX declined 600 points to 81,659, while the NIFTY dropped 0.71% to 24,933 at 12:54 pm.

From the NIFTY50 firms, Axis Bank, Shriram Finance, BEL, SBI Life, HDFC Life, Grasim, Adani Ports, Kotak Mahindra Bank, HDFC Bank, Asian Paints, and Tech Mahindra were also among the laggards.

Wipro, Tata Steel, HCLTech, ONGC, IndusInd Bank, Infosys, Bajaj Finance, Nestle India and Bajaj Auto were among the gainers.

Buzzing stocks on July 18

In an exchange filing, the company said its subsidiary Reliance Retail Ventures has acquired Kelvinator to grow its dominance in the consumer durables sector.

"By integrating Kelvinator's rich legacy of innovation with Reliance Retail's expansive and unparalleled retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India," it said.

Revenue from operations in the quarter ended June 2025 was marginally higher at ₹22,134.6 crore as against ₹21,963.8 crore in Q1 FY25.

Sequentially, post-tax profit and revenue declined 7% and 1.6%, respectively.

The land parcel is situated in Doddaballapur, North Bengaluru. "The development on this land will primarily comprise plotted units with a development potential of 1.1 million square feet," the company said.

Reacting to the development, the stock is up 0.16% to ₹2,340.7 apiece on the NSE.

Revenue from operations stood at ₹125.15 crore in the first quarter of FY26, up 256.35% from ₹35.12 crore a year back.

The gross non-performing assets (NPA) ratio increased to 1.57% from 1.28% in Q4 FY25, largely because of the technical impact.

The stock is up 0.8% to ₹40.15 apiece on the NSE.