SENSEX, NIFTY erase early gains, tumble nearly 1% in noon deals: RIL, LLTS, HFCL among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, pared their day’s gains and were trading in negative territory during the afternoon session on Wednesday, October 21, amid a sell-off in defence stocks, elevated global crude oil prices and FII outflow.

Brent crude futures for delivery in December remained elevated at about $109 per barrel (bbl).

The SENSEX dropped as much as 0.8% to hit an intraday low of 73,281.78. Meanwhile, the NIFTY50 tumbled as much as 0.95% to touch the session’s low of 22,672.25.

At 1:50 PM, the S&P BSE SENSEX fell by 498.48 points, or 0.67%, to trade at 73,354.42, while NSE’s NIFTY50 stood at 22,687.90, marking a 201.05-point, or 0.88%, decline.

On Monday, the foreign institutional investors (FIIs) sold stocks worth ₹1,148.64 crore, while the domestic institutional investors (DIIs) bought equities worth ₹3,201.19 crore on a net basis, according to exchange data.

Furthermore, India VIX, the volatility gauge, peaked at 9.5% to hit its intraday high level of 16.17.

The top losers in the NIFTY50 index included Eternal, Bajaj Finance, Eicher Motors, Trent, and Adani Enterprises.

On the contrary, Infosys, Tech Mahindra, Tata Consultancy Services (TCS), HCL Technologies, and UltraTech Cement were among the top gainers.

Buzzing stocks on October 21: check list

Rubio, answering a question on the trade pact, said that " a small number of items" are left to be wrapped up and hoped that it will be sealed "shortly".

Shares of Reliance Industries (RIL) advanced as much as 2.7% to hit an intraday high of ₹1,234.30 apiece on the National Stock Exchange (NSE) on Wednesday, October 21, as the much-awaited initial public offering (IPO) of its digital and technology arm, Jio Platforms, opened for subscription at 10 AM today.

The IPO became fully subscribed within hours of opening for subscription. The issue will end on October 23. The price band has been set at ₹1,065 to ₹1,119 per share.

The IPO marks a significant milestone for both the company and India's capital markets, as it is the country's largest public offering to date.

The stock of Transrail Lighting rallied as much as 9.74% to hit an intraday high of ₹494.65 per equity share on October 21. However, while the stock continued trading green, it was off the day’s high.

The scrip surged as the company bagged fresh orders worth ₹927 crore mainly in its Domestic Power T&D business, according to a regulatory filing dated October 20.

The order wins mainly include EPC projects in the domestic market for 765-kilovolt (kV) and 400kV transmission lines. It also comprises conductor supply orders to the United States of America (USA).

With the new jobs, Transrail Lighting’s order intake for the year has increased to ₹3,356 crore, with more than ₹2,300 crore worth of orders declared in the last three weeks.

Bajaj Finance shares declined as much as 3.6% to reach the session’s low of ₹923.30 apiece on the NSE, as analysts made note of the margin pressure for the reporting quarter, with the margins facing the likelihood of further compression in the upcoming quarters.

It saw a 29% year-on-year (YoY) surge in its consolidated net profit to ₹6,367 crore in the July-September quarter of the 2026-27 financial year (Q2 FY27). It had clocked a net profit of ₹4,948 crore in the corresponding period of the previous fiscal year, according to a regulatory filing.

The NBFC posted a 24% YoY growth in its net interest income (NII) to ₹13,335 crore during the quarter under review, as against ₹10,785 crore in the second quarter of the 2025-26 fiscal year (Q2 FY26).

Hindustan Zinc (HZL) stock gained as much as 3.98% to the day's high of ₹559.85 per equity share before falling into the red zone on Wednesday.

The stock was in demand following the company's solid Q2 FY27 numbers that were released post-market hours on Monday.

Vedanta group firm Hindustan Zinc Ltd on Monday reported a 142% rise in consolidated net profit to ₹6,412 crore for the quarter ended September 30, 2026 (Q2 FY27), driven by higher metal prices, increased production and a stronger dollar. It had posted a net profit of ₹2,649 crore in the year-ago period, Hindustan Zinc said in a filing to the BSE.

Its total revenue from operations increased 76.5% in Q2 FY27 to ₹15,093 crore from ₹8,549 crore logged in the year-ago period.

Shares of Piramal Finance rose as much as 4.6% to hit an intraday high of ₹2,038 per unit on the NSE after the company reported its September quarter earnings post-market hours on Monday.

Piramal Finance on Monday reported a consolidated net profit of ₹545 crore in the second quarter of the current financial year, marking an increase of 67% from ₹327 crore in the same period last year.

Its interest income rose 26% to ₹3,253 crore at the end of the September quarter from ₹2,585 crore in the year-ago period.

L&T Technology Services (LTTS) shares jumped as much as 14.7% to touch the session’s peak of ₹4,143 apiece on October 21, following its earnings announcement on Monday.

It posted a 66.8% YoY increase in its consolidated net profit to ₹548.2 crore in Q2 FY27, as against ₹328.7 crore in the year-ago period.

It clocked consolidated revenue from operations of ₹3,040.4 crore in the July-September quarter of FY27, up 12.06% YoY from ₹2,713.3 crore in the same period last year.

The company's board of directors also declared an interim dividend of ₹20 per equity share with a face value of ₹20 each. It fixed Tuesday, October 27, 2026, as the record date for the same.

Larsen and Toubro’s (L&T) public spaces, airports & health (PAH) business vertical, on Wednesday, secured two large orders in India.

Awarded by the Central Public Works Department, the first order pertains to the construction of the Government of India’s Common Central Secretariat buildings 4 and 5 along Kartavya Path in New Delhi, according to a regulatory filing.

The second order, awarded by the Government of Andhra Pradesh, pertains to the construction of two office towers on either side of the Amaravati Quantum Computing Centre at Amaravati.

As per the company’s order classification lexicon, a “large” order is worth ₹2,500-3,000 crore.

Zydus Lifesciences, on October 21, informed the exchanges that it received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Estradiol and Levonorgestrel Transdermal System, 0.045 mg/0.015 mg per day.

The ANDA has been designated by the USFDA as a Competitive Generic Therapy (CGT). The product is eligible for the 180-day exclusivity period available to certain first approved applicants under the CGT pathway, subject to the provisions of the U.S. Federal Food, Drug, and Cosmetic Act.

Estradiol and Levonorgestrel Transdermal System is primarily used to treat moderate to severe symptoms of menopause. It is also used in postmenopausal women for prevention of osteoporosis.

The stock of HFCL hit a fresh 52-week high of ₹282.25 per equity share on the NSE on Wednesday, October 21, as it recorded strong Q2 FY27 earnings on Monday. However, the stock later slipped into negative territory.

It posted a 434.79% YoY increase in its consolidated net profit to ₹362.91 crore in Q2 FY27, compared to ₹67.86 crore a year back. Its revenue from operations advanced 143.62% YoY to ₹2,541.79 crore

Shares of fire protection equipment manufacturer HD Fire Protect Ltd made a strong debut on the stock exchanges on Wednesday, October 21. The stock listed at ₹335 per share on the NSE. This reflects a premium of 23.62% over the IPO issue price of ₹271 per unit. On the BSE, it started trading at ₹334.40 apiece, up 23.39% from the issue price.

A lot consisted of 55 shares and cost ₹14,905. Investors who received the HD Fire Protect IPO allotment made ₹3,520 per lot, taking the value of their investment to ₹18,425, as per the listing price on the NSE.

The public issue was entirely an offer for sale (OFS) of 2.63 crore shares aggregating to ₹712.13 crore by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.