Synopsis : Quarterly earnings, regulatory approvals and brokerage reactions kept several banking, pharma and industrial stocks in focus during midday trade. Karur Vysya Bank and CMPDI emerged among the biggest gainers after reporting strong June-quarter results.
Indian equity markets remained under pressure during midday trade on July 21, with weakness in heavyweight financial stocks weighing on the benchmark indices despite strong gains in select midcap counters following their June-quarter earnings.
At the time of writing, the Nifty 50 was hovering near 24,170, while the Sensex traded around 77,440.
Here are the biggest movers during midday trade.
Karur Vysya Bank surges over 11% after strong Q1 earnings
Karur Vysya Bank emerged as one of the biggest gainers of the session, rising more than 11% after reporting a strong June-quarter performance.
The private sector lender posted:
- Net profit: ₹755.7 crore, up 45% YoY
- Interest income: ₹3,049.4 crore, up 19%
- Net Interest Income (NII): ₹1,423 crore, up 31%
The bank's Net Interest Margin (NIM) improved to 4.34%, compared with 3.86% a year earlier, reflecting stronger lending profitability.
Asset quality remained broadly stable. Although gross non-performing assets increased marginally to 0.74% from 0.66%, provisions for bad loans declined 23.5% to ₹90.3 crore, supporting the sharp rise in profitability.
The combination of stronger margins and lower provisions boosted investor sentiment.
CMPDI jumps over 7% on margin expansion and dividend announcement
Shares of Central Mine Planning & Design Institute Ltd. (CMPDI) gained more than 7% after the Coal India subsidiary delivered strong June-quarter earnings.
Key highlights included:
- Net profit: ₹116.3 crore, up 53.8% YoY
- Revenue: ₹481.4 crore, up 17.6%
- EBITDA: ₹168 crore, up 62%
EBITDA margin expanded significantly to 34.92%, compared with 25.38% in the corresponding quarter last year.
The company also announced a dividend, adding further support to investor sentiment.
Planning, design, exploration and environmental consulting businesses all reported healthy growth during the quarter, reflecting continued demand across India's mining sector.
Emcure Pharmaceuticals gains after MASH approval
Emcure Pharmaceuticals traded nearly 2% higher after announcing that its co-marketed semaglutide brand Poviztra received regulatory approval for treating non-cirrhotic Metabolic Dysfunction-Associated Steatohepatitis (MASH).
The approval was granted by the Central Drugs Standard Control Organisation (CDSCO).
Poviztra contains innovator rDNA-origin semaglutide, manufactured by Novo Nordisk at its European facility.
The approval expands the product's addressable market and strengthens Emcure's portfolio in metabolic disease therapies.
UltraTech Cement rises after healthy Q1 performance
UltraTech Cement gained nearly 2% after reporting healthy June-quarter earnings supported by higher sales volumes and continued expansion in profitability.
The company reported:
- Net profit: ₹2,599 crore, up 17% YoY
- Revenue: ₹24,648 crore, up 16%
- EBITDA: ₹5,016 crore, up 14%
The results reinforced confidence that demand across India's infrastructure and construction sectors continues to remain healthy despite rising input costs.
Paytm turns lower despite strong quarterly earnings
Shares of One97 Communications (Paytm) traded marginally lower after giving up early gains, despite reporting a strong June-quarter performance.
The company reported:
- Revenue: ₹2,448 crore, up 28% YoY
- EBITDA: ₹203 crore, up 182%
- Profit after tax: ₹220 crore, up 79%
Brokerage Goldman Sachs noted that Paytm's revenue exceeded expectations, while EBITDA came in around 20% above estimates.
The brokerage attributed the performance to continued gains in both online and offline payments, along with healthy growth in merchant lending.
Despite the strong numbers, investors chose to book profits after the recent rally.
Pharma stocks outperform broader market
The pharmaceutical sector remained among the strongest performers during the session.
The Nifty Pharma Index advanced around 1.8%, supported by buying across frontline companies.
Major gainers included:
- Torrent Pharmaceuticals (+3%)
- Mankind Pharma (+2%)
- Cipla (+2%)
The sector outperformed as investors rotated towards defensive businesses amid weakness in banking stocks, elevated crude oil prices and continuing geopolitical uncertainty.
Conclusion
While benchmark indices remained under pressure because of weakness in financial stocks, company-specific earnings continued to drive significant stock movements.
Karur Vysya Bank and CMPDI emerged as standout performers after reporting strong June-quarter earnings, while UltraTech Cement and Emcure Pharmaceuticals also traded firmly higher on positive developments.
Meanwhile, Paytm surrendered early gains despite strong quarterly numbers, as investors booked profits following the recent rally. The pharmaceutical sector remained one of the day's strongest performers, reflecting a shift towards defensive stocks in an otherwise cautious market.
Disclaimer : This article is intended solely for informational and educational purposes. The stock price movements, financial results and brokerage opinions mentioned here should not be construed as investment advice or recommendations to buy, sell or hold any security. Stock market investments are subject to market risks, and investors should conduct their own research and consult a SEBI-registered investment advisor before making investment decisions.
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