NSE, BDL, Ola Electric among buzzing stocks as SENSEX, NIFTY50 tumble over 1% in noon deals

The Indian benchmark indices, SENSEX and NIFTY50, were trading in negative territory during the afternoon session on Thursday, September 24, amid a rise in global crude oil prices, a surge in US Treasury yields and weak global cues.

The SENSEX tumbled as much as 1.2% to hit an intraday low of 73,947.70. Meanwhile, the NIFTY50 dropped as much as 1.2% to touch the session’s low of 23,164.85.

At 1:17 PM, the S&P BSE SENSEX slumped by 803.98 points, or 1.07%, to trade at 74,024.27, while NSE’s NIFTY50 stood at 23,182.35, reflecting a 264-point, or 1.13%, decline.

The top losers in the index included HDFC Life Insurance Company, Bajaj Finance, Axis Bank, Bajaj Finserv, and Hindalco Industries.

On the contrary, Cipla, SBI Life Insurance Company, Bharat Electronics Ltd (BEL) and NTPC were among the top gainers.

Buzzing stocks on September 24: Check list

Shares of insurance and insurance-distribution companies such as PB Fintech, HDFC Life, SBI Life, ICICI Prudential Life, LIC, Max Financial Services, and Turtlemint Fintech Solutions tumbled on Thursday, September 24.

This comes as the Insurance Regulatory and Development Authority of India (IRDAI) proposed changes aimed at banning dark patterns, rationalising insurance distribution costs and recalibrating commission structures.

The proposals triggered a sharp sell-off in insurance distribution platforms such as PB Fintech and Turtlemint, as the proposed changes could have a more direct impact on their distribution economics. In contrast, the impact on insurers is expected to vary depending on their existing cost structures and distribution mix.

FMCG and edible oil shares were trading mixed on Thursday, after the government cut basic customs duty (BCD) on crude and refined palm, soybean, and sunflower oils, a move that could ease input-cost pressures for packaged food and consumer goods companies ahead of the festive season.

The BCD on crude sunflower oil has been reduced to nil from 10%, while the duty on refined sunflower oil has been cut to 22.5% from 32.5%. For crude soybean and palm oil, the duty has been lowered to 5% from 10%, while the BCD on refined varieties has been reduced to 27.5% from 32.5%. The changes are effective from September 24.

Lower edible-oil prices could also support consumption and volumes during the upcoming festive season, although the extent of margin benefit will depend on how much of the cost reduction is passed on to consumers.

Shares of Ola Electric Mobility jumped as much as 6.4% to hit an intraday high of ₹44.55 per unit on the National Stock Exchange (NSE) on September 24, as investors reacted to the company’s proposed rights issue of equity shares.

The exchange filings on Wednesday evening showed that Ola Electric is scheduled to hold a meeting of the board of directors on Monday, September 28, 2026, to consider the proposal of raising funds via the rights issue, subject to the necessary approval.

“Ola Electric today informed the stock exchanges that it is seeking Board approval for a proposed rights issue of equity shares. The rights issue route is being considered to enable participation by all eligible shareholders, including retail, institutional and promoter group, subject to applicable laws,” the company informed the stock exchanges.

The stock of Max Estates surged as much as 8.22% to hit a 52-week and intraday high of ₹652.80 per equity share on the NSE, as the company entered into a memorandum of understanding (MoU) for a proposed Joint Development Agreement (JDA) for a 9.76-acre land parcel in Ghaziabad.

According to a regulatory filing dated September 23, the realtor said that it will partner with a landowner to develop a housing project in Indirapuram, Ghaziabad, as part of the company's expansion plan.

The upcoming project will have a super built-up development potential of approximately 1.5 million sq. ft. and an estimated gross development value (GDV) of about ₹2,500-₹3,000 crore, subject to applicable approvals and final layout.

Shares of Allied Blenders and Distillers Limited (ABDL) rallied as much as 7.3% to touch the session’s peak of ₹704.40, as SBI Mutual Fund bought 34 lakh shares of the company, while Abu Dhabi Investment Authority acquired a little over 15 lakh shares at an average price of ₹650 apiece.

Bina Kishore Chhabria, one of the promoters of Allied Blenders and Distillers, divested nearly 2% stake in the company for ₹357 crore through an open market transaction on Wednesday.

The stake sale comes a day after the maker of Officer’s Choice whiskey said in a filing that its promoter proposes to divest part of its holding to comply with minimum public shareholding norms. According to bulk deal data on the BSE, Chhabria sold 55 lakh shares, amounting to a 1.96% stake in the Mumbai-based company.

Avantel stock gained as much as 9% to touch an intraday high of ₹160 apiece on Thursday, September 24, after the defence firm secured a major order from Zetwerk Manufacturing Businesses.

Worth ₹177.35 crore, the order includes the supply of satellite communication equipment along with a one-year comprehensive onsite warranty. The domestic order is expected to be completed by March 2027.

“…we are pleased to inform you that the Company has received a firm Purchase Order dated September 22, 2026, from M/s. Zetwerk Manufacturing Businesses Limited, pursuant to the aforesaid Rate Contract, for the supply of Satellite Communication Equipment,” Avantel said in a regulatory filing.

Concord Biotech shares declined as much as 5% to touch an intraday low of ₹1,486.30 apiece on Thursday, September 24, a day after the company said its board of directors has approved bonus issuance and authorised capital increase.

In a regulatory filing, Concord said the board has proposed issuing bonus shares in a 1:1 ratio, with one bonus equity share of ₹1 each for every one fully paid-up equity share of ₹1 held by shareholders. The bonus shares will be issued by capitalising the share premium account, subject to shareholders’ approval.

Further, the board of directors has also proposed increasing its authorised share capital from ₹11 crore to ₹22 crore by creating an additional 11 crore equity shares of ₹1 each. The proposal is, however, subject to shareholders’ approval and will also involve a consequential amendment to the capital clause of the company’s Memorandum of Association.

Shares of Bharat Dynamics Ltd (BDL) advanced as much as 1.9% to hit an intraday high of ₹1,183 per equity share on the NSE, as the company signed a contract worth ₹801.79 crore with the Ministry of Defence (MoD).

As per a Press Information Bureau (PIB) report, the contract was signed for the procurement of 160 Satellite Smart Anti-Airfield Weapons (SAT-SAAW), along with associated equipment for the Indian Air Force (IAF) under the Buy (Indian - Indigenously Designed, Developed and Manufactured) category.

The delivery of SAT-SAAW is scheduled between 2027-2028 and 2028-2029, the press release further stated.

Shares of Exide Industries climbed as much as 2.5% to hit an intraday high of ₹436.80 per unit, before falling into the red zone. The stock rose as the company said that its material subsidiary completed commissioning the first phase of its lithium-ion cell manufacturing facility.

According to a regulatory filing, the company’s material subsidiary, Exide Energy Solutions Limited (EESL), completed commissioning Phase I of the manufacturing facility located in Bengaluru on Wednesday, September 23.

More specifically, EESL completed commissioning Phase I of a six Gigawatt-hour (GWh) lithium-ion cell manufacturing facility located at Devanahalli, Bengaluru, Karnataka.

Alkem Laboratories' stock declined as much as 2.5% to hit the session’s low of ₹5,281 per equity share, as Nitin Agrawal resigned on July 30, 2026, from the position of Chief Financial Officer & Key Managerial Personnel of the Company to pursue new professional opportunities.

Accordingly, Agrawal will cease to hold the senior management position in the company effective from September 30, 2026.

Shares of National Stock Exchange of India Ltd., or NSE, debuted at ₹1,800 apiece on BSE (formerly Bombay Stock Exchange) on Thursday, September 24. This reflects a premium of 0.84% over the IPO issue price of ₹1,785 apiece. After listing, it climbed 4.11% to ₹1,874.05.

A lot consisted of 8 shares and cost ₹14,280. Investors who received the NSE IPO allotment made ₹120 per lot, taking the value of their investment to ₹14,400, as per the listing price on the BSE.

The initial public offering was subscribed to 5.71 times. It received bids for 50,58,11,384 shares against 8,86,42,911 shares on offer, as per data available on the BSE website.

Shares of textile manufacturer Sonaselection India Ltd started trading at ₹102.31 apiece on the NSE on Thursday, September 24, marking a premium of 3.34% over the IPO issue price of ₹99.

On the BSE, the stock debuted at ₹102 per share, up 3.03% from the issue price. After listing, the scrip rose 5% to ₹107.42, its upper circuit level.

A lot consisted of 150 shares and cost ₹14,850. Investors who received the Sonaselection India IPO allotment made ₹496.5 per lot, taking the value of their investment to ₹15,346.5, as per the listing price on the NSE.