SENSEX, NIFTY50 stage partial recovery; Anant Raj, MMTC, Adani Power, PNC Infratech among buzzing stocks

The Indian equity markets staged a partial recovery in noon deals on Monday, September 22, as weakness in information technology shares was offset with buying interest in index heavyweights like Eternal, Bajaj Finance, Axis Bank, Ultratech Cement and ICICI Bank. The SENSEX which fell as much as 475 points in morning trading was down 102 points at 82,434 as of 12:12 pm and the NIFTY50 index was down 49 points at 25,278. At the day's lowest level, NIFTY50 touched an intraday low of 25,211.

All 10 shares in the NIFTY IT index were trading lower dragged down by Tech Mahindra’s 3.67% fall. Persistent Systems, Mphasis, LTI Mindtree, Coforge, Tata Consultancy Services, Wipro, Infosys and HCL Technologies fell between 1.64-3.67%.

Measure of mid- and small-cap IT companies on the NSE, NIFTY MIDSMALL IT & TELECOM index, fell as much as 2.5% dragged down by selling pressure in shares such as Cyient, Zensar Technologies, Tata Tech, L&T Technology Services, KPIT Tech, Birlasoft and Sonata Software.

As part of the plan, each existing equity share with a face value of ₹10 will be split into five equity shares, each with a face value of ₹2, fully paid-up.

Shareholders of Adani Power had approved the stock split proposal on September 5 floated by the company through electronic voting.

The company at its board meeting on August 1, 2025, had explained that the approved and recommended share split is to facilitate greater participation from retail and small investors.

There will not be any change in the amount of authorised, issued, subscribed and paid-up share capital of the company on account of the subdivision/split of the equity shares, it had stated.

The counter opened the day at ₹317.50, up from the previous close of ₹306.65. Shares of PNC Infratech were trading 3.19% higher at ₹315.80 apiece at 9:22 AM.

The rise in the share price comes after the company announced that it has received a Letter of Acceptance (LOA) from the Bihar State Road Development Corporation (BSRDC) in an exchange filing dated September 19, 2025.

Trading volume in MMTC shares spiked by 11.8 times to 1.90 crore shares against an average trading volume of 16 lakh shares.

In its press release, GRSE said, "At Bhavnagar’s ‘Samudra Se Samriddhi’ Mission, launched by Hon’ble Prime Minister Shri Narendra Modi on Saturday, September 20, 2025, India’s ambition to emerge among the world’s top five shipbuilding nations by 2047 under the Maritime Amrit Kaal Vision gathered fresh momentum. Garden Reach Shipbuilders & Engineers Ltd. (GRSE) signed a series of Memorandums of Understanding (MoUs) with strategic partners in the shipbuilding, port, and infrastructure sectors."

From kitchen staples to electronics, from medicines and equipment to automobiles, goods and services will be cheaper from Monday as the reduced GST rates on about 375 items come into effect.

In a bonanza to consumers, the GST Council, comprising the Centre and states, on September 3, 2025, announced the reduction in the tax rates on goods and services, from September 22 -- the first day of the Navaratri.

The stock came under buying interest after reports suggested that the government is planning tax exemptions for data centre developers.