Urban Company, ITC, Redington among buzzing stocks as SENSEX soars over 620 pts, NIFTY above 24,500

Benchmark indices, SENSEX and NIFTY50, were trading with gains during the afternoon session on Monday, August 3, bolstered by buying in information technology (IT) stocks and a drop in global crude oil prices amid signs of easing tensions in West Asia.

The SENSEX soared as much as 1.02% to hit an intraday high of 78,895.10, while the NIFTY50 rallied as much as 0.96% to reach the session’s peak of 24,609.50.

At 1:28 PM, the S&P BSE SENSEX gained by 621.24 points, or 0.80%, to trade at 78,715.88. NSE’s NIFTY50 stood at 24,587.75, reflecting a 204.15-point, or 0.84% jump.

Buzzing stocks on August 3: Check list

Shares of auto manufacturers Maruti Suzuki, Hyundai Motors, Tata Motors PV, Mahindra & Mahindra, among others, were trading mixed, despite reporting their sales data for the month of July 2026.

Passenger vehicle dispatches in the domestic market are estimated to have risen 33% to about 4.7 lakh units in July this year, riding on record volumes led by market leader Maruti Suzuki, along with Hyundai.

Homegrown majors Tata Motors and Mahindra & Mahindra also clocked high double-digit growth as the passenger vehicle industry continued to ride on the wave of impetus from GST 2.0, reduced repo rates and income tax relief on income of up to ₹12 lakh.

Shares of power sector companies were in the spotlight on Monday, August 3, following the surge in power demand.

India's power consumption grew 10.93% year-on-year (YoY) to 170.70 billion units (BU) in July, official data showed, as high humidity levels pushed up use of cooling appliances such as air conditioners in many parts of the country.

The country's total power consumption was 153.88 BU in July 2025.

The higher feel-like temperature than actual, caused by humid conditions across the country, increased use of cooling appliances like air conditioners, thereby increasing power demand and consumption, experts said.

Oil & gas stocks such as ONGC, Oil India, Reliance Industries, Deep Industries, and offshore services players like Dolphin Offshore Enterprises were in focus after the Union Cabinet approved the ₹84,084 crore 'Samudra Manthan' National Offshore Exploration Scheme.

The five-year programme aims to accelerate offshore oil and gas exploration through seismic surveys, exploratory drilling, and infrastructure development, to boost domestic hydrocarbon production and reduce India's reliance on energy imports.

However, shares of ONGC and Oil India dropped as crude oil prices in the global market declined more than 6%, as commodity market investors focused on another round of negotiations between the United States and Iran starting from Monday afternoon, August 3, 2026.

Shares of HFCL soared as much as 4.94% to hit an intraday high of ₹203.50 per unit on the National Stock Exchange (NSE) on Monday, August 3, after the telecom equipment maker bagged an export order worth $54.81 million, or approximately ₹522.73 crore, for the supply of optical fibre cables.

In a regulatory filing dated August 2, the company stated that the contracts are scheduled to be executed by January 2027.

"The company has secured export orders worth $54.81 million (equivalent to ₹522.73 crore) for the supply of optical fibre cables from renowned international customers. These orders reaffirm the confidence reposed by our customers in the company's manufacturing capabilities, technological excellence and product quality," HFCL said.

The stock of state-owned natural gas company GAIL (India) declined as much as 5.12% to hit an intraday low of ₹172.15 apiece on the NSE on Monday, August 3, despite reporting strong results for the first quarter of the 2026-27 financial year (Q1 FY27), as investors booked profit.

According to a regulatory filing dated July 31, the maharatna PSU saw its standalone net profit soar 240% quarter-on-quarter (QoQ) to ₹4,292.33 crore during the quarter under review, in comparison to ₹1,262.18 crore in the fourth quarter of the 2025-26 fiscal year (Q4 FY26).

On a year-on-year (YoY) basis, the company’s standalone net profit gained 127% from ₹1,886.34 crore in the first quarter of FY27.

The stock of Urban Company surged 17.63% to hit the session’s peak of ₹152.21 per equity share on Monday’s market, as market investors focused on the company’s sequential contraction of losses and ‘InstaHelp’ order book strength post the April to June quarter earnings report for the financial year 2026-27.

The company reduced its consolidated net losses by 43% on a quarter-on-quarter (QoQ) basis to a ₹92.12 crore loss in the April to June quarter of FY27, from a ₹161.16 crore loss in the fourth quarter of FY26.

However, on a year-on-year (YoY) basis, Urban Company recorded a net loss of ₹92.12 crore in the June quarter, against a ₹6.94 crore net profit in the same quarter of the previous financial year.

The company’s operational level earnings before interest, tax, depreciation, and amortisation (EBITDA) improved to a negative ₹93 crore, from negative ₹114 crore sequentially, as per the NSE filings.

Shares of Redington Ltd advanced as much as 8.5% to hit a record high of ₹349 on the NSE on Monday. The rally in the stock could be attributed to its strong June quarter (Q1 FY27) earnings, along with robust Apple sales data.

Tech giant Apple posted record June-quarter revenue of $109.4 billion, up 16% on a year-on-year (YoY) basis, supported by double-digit growth in most emerging markets including India.

"We achieved June quarter revenue records in every geographic segment. We were pleased to see strength across the board with June-quarter records in the US, Latin America, Western Europe, India, China mainland, Japan, and Southeast Asia. We also achieved June quarter revenue records in both developed and emerging markets and saw double-digit growth in most emerging markets," Apple CEO Tim Cook said in the last earnings call as the company's top executive.

In its press release, Redington said it delivered its highest-ever quarterly revenue and profit in Q1 FY27. Consolidated revenue stood at ₹34,966 crore, representing year-on-year growth of 34%, while profit after tax, excluding exceptional items, increased 77% to ₹486 crore. PAT margin for the quarter stood at 1.4%.

Shares of ITC, the country's largest cigarette maker, rose as much as 4.11% to hit an intraday high of ₹292.55 on the National Stock Exchange (NSE) on Monday, August 3.

ITC shares came under buying interest despite reporting a decline in quarterly profit in the April-June period, as global investment firms issued positive reports on its first-quarter earnings.

Nomura, in a note, said that the worst seems to be behind the company, and a 5% decline in cigarette volume was better than the estimated 10% decline.

Jefferies said that Q1 earnings missed its estimate, but they were positively surprised by volume resilience.

One Mobikwik Systems stock climbed as much as 8.6% to hit an intraday high of ₹222.80 per equity share on the NSE, after the fintech firm recorded around a ₹8 crore net profit against a net loss in the same period a year earlier due to improved margins and revenue growth.

NSE filings showed that One Mobikwik recorded a consolidated net profit of ₹7.61 crore in the first quarter of the fiscal year 2026-27, against a ₹41.92 crore net loss in the same period a year earlier.

After the earnings release, One Mobikwik share price surged 8.5% to its intraday high of ₹222.80 apiece on Monday’s market, in comparison to ₹205.21 apiece at the previous equity market close, according to the exchange data.