Urban Company, Vishal Mega Mart among buzzing stocks as SENSEX falls over 200 pts; NIFTY below 24,200

The Indian benchmark indices, SENSEX and NIFTY50, pared early gains and slipped into the red zone during the afternoon session on Monday, August 24, amid mixed global cues and a sell-off in PSU bank and defence stocks.

In the morning session, the SENSEX had climbed as much as 0.3% to hit an intraday high of 77,789.40, and the NIFTY50 had advanced as much as 0.25% to touch the session’s peak of 24,313. However, the market was trading in negative territory in the afternoon session.

At 12:57 PM, the S&P BSE SENSEX fell by 231.19 points, or 0.30%, to trade at 77,309.64, while NSE’s NIFTY50 stood at 24,186.15, marking a 65.85-point, or 0.27% decline.

The top losers in the NIFTY50 index included Adani Ports & SEZ, Bharat Electronics Ltd (BEL), State Bank of India, Power Grid Corporation of India and Bajaj Finserv.

On the flip side, Hindalco Industries, JSW Steel, Infosys, Tata Steel and Dr. Reddy's Laboratories were among the top gainers.

Buzzing stocks on August 24: Check list

Shares of electronics manufacturing services (EMS) companies such as Dixon Technologies, Kaynes Technology, and Syrma SGS Technology were in focus on Monday, August 24, as the Centre on Friday announced the launch of the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS), with incentives for manufacturers ranging from 2.5% to 5%.

According to the guidelines of the ₹62,500 crore MPMS, mobile phone companies, including electronic manufacturing services (EMS) firms with 51% Indian ownership, having a turnover of ₹1,000 crore in FY26 will also be eligible for participation in the scheme.

Shares of Urban Company rallied nearly 7% to touch their intraday high of ₹169.47 apiece on the National Stock Exchange (NSE) on Monday, August 24, as investors focused on the global index provider FTSE’s latest index addition move during the semi-annual review ahead of September 2026.

Urban Company shares were included in the benchmark FTSE Emerging Markets All Cap Index as part of the latest index review, effective from September 21, 2026.

FTSE announced its latest index rejig, additions and exclusions, after the semi-annual review this month for September 2026. However, the index review changes may be subject to revision only until the close of business on Friday, September 4.

As per the official exchange filing on August 21, FTSE added several Indian stocks to its benchmark indices, including the FTSE Emerging Markets All Cap Index, along with excluding certain stocks from its indices.

The stock of Vishal Mega Mart jumped as much as 11.57% to hit the day's high of ₹115.40 apiece on the NSE, after the company last week announced the re-appointment of Gunender Kapur for a tenure of five years with effect from September 01, 2026, and redesignated him as Founder, Managing Director & Chief Executive Officer of the company.

Gunender Kapur was appointed as the Managing Director & Chief Executive Officer of the Company for a period of three years with effect from June 27, 2024. His existing term of three years is due to expire on June 26, 2027.

The filing added, "Based on recommendations of the Nomination & Remuneration Committee of the Board and subject to the approval of shareholders of the Company, the Board has approved the reappointment of Mr. Gunender Kapur (DIN: 01927304) for a period of five years commencing from September 01, 2026 up to and including August 31, 2031 and redesignated as ‘Founder, Managing Director & Chief Executive Officer’ of the Company."

Kaynes Technology India shares jumped around 2% to touch their intraday high of ₹3,963.50 apiece on Monday's market, after the firm signed a strategic memorandum of understanding (MoU) with a Shenzhen-based Chinese company, Bosgame, to launch its computing products.

As per the exchange filings, Kaynes Technology signed the MoU with Bosgame to expand the company’s presence in the Indian market.

The deal aims to collaborate using Bosgame’s product innovation and intelligent computing portfolio with Kaynes Tech’s capabilities in electronics design, engineering, integrated manufacturing, testing, supply-chain management, and lifecycle support.

The stock of NTPC Green Energy gained 2.6% to touch its intraday high of ₹93.85 per equity share on Monday, after the firm secured a power tender order of 500 megawatts (MW) in the latest e-reverse auction.

As per an exchange filing, NTPC Renewable Energy Ltd, which is a wholly owned subsidiary of NTPC Green Energy, emerged as one of the successful bidders in the e-reverse auction conducted by Solar Energy Corporation of India (SECI).

The tender order was for the selection of RE Power Developers for Assured Peak Supply of 6,000 megawatt-hours (MWh).

Oriental Hotels shares climbed as much as 5.43% to a high of ₹146.20 apiece on the NSE in the opening deals on Monday, August 24, as the company informed stock exchanges that The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, announced that the former will be merged with IHCL through a scheme of arrangement.

The scheme is subject to statutory approvals and clearances.

The announcement means OHL will be absorbed into IHCL through a Scheme of Arrangement, subject to regulatory and shareholder approvals.

The stock of TVS Supply Chain Solutions gained as much as 14.7% to hit the session’s peak of ₹139.30 per equity share on the NSE, after the company said it has signed an agreement with Japan-headquartered logistics and engineering firm Sankyu Inc.

The strategic Memorandum of Understanding (MoU) aims to collaborate across supply chain and engineering services, creating a platform to unlock growth opportunities across key industrial sectors.

As part of the MoU, Sankyu intends to acquire an equity stake of 0.5% in TVS SCS, subject to customary regulatory approvals. The collaboration will initially focus on opportunities in India, where both companies see significant potential to support manufacturing and industrial customers through a broader range of supply chain and engineering services.

Shares of Hexaware Technologies rose as much as 8% to hit an intraday high of ₹574.85 apiece on the NSE on Monday, August 24, after the company announced various initiatives it is undertaking at its AI day on Friday. The company’s CEO said that it expects revenue to double by 2029, driven by AI-led transformation.

Chief executive officer (CEO) R Srikrishna said that the company expects revenue to touch $3 billion by 2029, up from around $1.5 billion, driven by factors like AI-led transformation, West Asia expansion, growth in the technology vertical, and private equity partnerships.

Shares of Horizon Industrial Parks Ltd debuted at ₹60.25 per equity share on the NSE. This reflects a premium of 0.42% over the IPO issue price of ₹60 apiece. On the BSE, it is listed at ₹59.65 per unit, down 0.58% from the issue price.

A lot consisted of 250 shares and cost ₹15,000. Investors who received Horizon Industrial Parks IPO allotment made ₹15,062.5 per lot, taking the value of their investment to ₹62.5, as per the listing price on the NSE.

The initial share sale was only a fresh issuance of 43.34 crore equity shares totalling ₹2,600.04 crore. The funds raised will be used for debt clearance and general corporate purposes.

Shares of Lalithaa Jewellery Mart Ltd made a robust debut on the stock exchanges on Monday, August 24. The stock is listed at ₹265 per equity share on the NSE, reflecting a premium of 31.84% over the IPO issue price of ₹201 apiece. On the BSE, it started trading at ₹265.30 per unit, up 31.99% from the issue price.

A lot consisted of 74 shares and cost ₹14,874. Investors who received Lalithaa Jewellery Mart IPO allotment made ₹19,610 per lot, taking the value of their investment to ₹4,736, as per the listing price on the NSE.

The ₹1,700 crore initial public offering was a combination of a fresh issue of up to ₹1,200 crore and an offer-for-sale (OFS) of ₹500 crore. The money generated will be utilised to fund new stores and general corporate purposes.