Synopsis : Indian markets traded marginally lower by midday, but Shankesh Jewellers gained 11% on its market debut, Ceigall India rose after a Rs 704.70 crore road project, Sigma Advanced Systems hit its 5% upper circuit on a Rolls-Royce contract, while IIFL Finance fell following a Rs 963.39 crore income tax demand.
Indian equity benchmarks were trading marginally lower by midday on Tuesday, August 25, but stock-specific developments continued to drive sharp moves across the market.
The Nifty was hovering near 24,180, down around 0.13%, while the Sensex was near 77,350, lower by approximately 0.02%.
Among individual stocks, Shankesh Jewellers made a strong market debut, Ceigall India gained after securing a major road project, while IIFL Finance came under pressure following a substantial income tax demand. Sigma Advanced Systems also hit its 5% upper circuit after securing another long-term Rolls-Royce contract.
Here’s a look at what triggered the biggest moves.
Shankesh Jewellers gains 11% in market debut
Shankesh Jewellers made a positive debut on the stock market, with the share price rising around 11% above its issue price of Rs 93.
The company had raised approximately Rs 367 crore through its IPO, which received an overall subscription of 2.80 times.
The proceeds from the fresh issue are intended to be used for repayment or pre-payment of borrowings, working capital requirements and general corporate purposes.
The positive listing indicates healthy investor interest, although the company’s performance after listing will depend on factors including earnings growth, jewellery demand, margins and its ability to effectively deploy the capital raised.
Ceigall India rises over 5% after winning Rs 704.70 crore road project
Ceigall India gained as much as 5.14% after the infrastructure company secured a Rs 704.70 crore project from the Ministry of Road Transport and Highways.
The order involves the development of the Lada-Sarli section of NH-913, also known as the Frontier Highway, in Arunachal Pradesh.
The project will be executed through a joint venture with Sushee Infra & Mining, with Ceigall India holding a 74% stake in the partnership.
The new order adds to the company’s project pipeline and strengthens its presence in India’s road infrastructure sector. Investors will now watch project execution, the pace of construction and the potential impact of the order on the company’s revenue visibility.
IIFL Finance falls 7.5% after Rs 963 crore income tax demand
IIFL Finance came under significant selling pressure, with the share price declining as much as 7.5%.
The fall followed an income tax demand of Rs 963.39 crore received by its subsidiary, IIFL Home Finance, following a block assessment.
The tax order covers several matters, including overriding commission income, deductions, interest strip assets and ESOP expenses.
The company has said that it has substantial factual and legal grounds to contest the demand.
For investors, the key issue will be the eventual outcome of the legal challenge and whether the tax demand results in any material financial impact on the group.
Sigma Advanced Systems hits 5% upper circuit on new Rolls-Royce contract
Sigma Advanced Systems was locked in the 5% upper circuit after the aerospace and defence engineering company secured another long-term contract linked to Rolls-Royce.
The agreement was secured through its UK subsidiary, Bromford Precision Solutions, and is valued at nearly Rs 1,600 crore.
The new contract follows an earlier Rolls-Royce agreement worth around Rs 3,800 crore.
Together, the agreements expand the group’s involvement in manufacturing aero-engine components and strengthen its order visibility in the aerospace and defence segment.
The market reacted positively to the development, as long-term contracts from global aerospace companies can provide greater revenue visibility and support capacity utilisation over an extended period.
Hexaware Technologies remains in focus after AI growth roadmap
Hexaware Technologies remained on investors’ radar following its sharp rally in the previous trading session.
The stock had surged as much as 7.7% after the company outlined its AI-focused growth strategy and said it expects revenue to double to around $3 billion by 2029 from approximately $1.5 billion.
Management expects growth to be driven by AI services, expansion in West Asia, opportunities in the technology vertical and private equity partnerships.
The previous session's rally was also accompanied by a sharp increase in trading activity.
However, the available material does not provide Hexaware Technologies’ specific midday movement for August 25. The stock nevertheless remains in focus because of the market’s strong reaction to its long-term AI-led growth plans.
Vishal Mega Mart remains on watch after management continuity boost
Vishal Mega Mart also remained in focus following its strong rally during the previous trading session.
The stock had surged as much as 11.57% after the company reappointed Gunender Kapur for another five-year term beginning September 1, 2026.
He was also redesignated as Founder, Managing Director and Chief Executive Officer.
The stock eventually closed the August 24 session with a gain of 9.74%.
The market had responded positively to the management continuity, although the supplied information does not provide Vishal Mega Mart’s specific midday movement for August 25.
Market snapshot: Stock-specific triggers drive sharp moves
Despite the Nifty and Sensex trading slightly lower, individual stocks witnessed significant volatility driven by company-specific developments.
Shankesh Jewellers gained around 11% in its market debut. Ceigall India rose over 5% after securing a Rs 704.70 crore infrastructure project, while Sigma Advanced Systems hit its 5% upper circuit following a nearly Rs 1,600 crore Rolls-Royce-linked contract.
On the downside, IIFL Finance fell as much as 7.5% after its subsidiary received an income tax demand of Rs 963.39 crore.
Meanwhile, Hexaware Technologies and Vishal Mega Mart continued to remain in focus following their sharp rallies in the previous session, although specific August 25 midday price movements were not available in the supplied material.
Conclusion
The broader market remained relatively subdued by midday, but individual stocks continued to witness sharp movements based on company-specific announcements.
Ceigall India benefited from a major government road project, while Sigma Advanced Systems attracted buying interest after expanding its relationship with Rolls-Royce through another long-term aerospace contract.
Shankesh Jewellers made a positive market debut, reflecting investor interest in the newly listed company.
On the other hand, IIFL Finance faced selling pressure following the substantial income tax demand received by its housing finance subsidiary.
The session once again highlights how order wins, IPO listings, corporate developments, legal matters and long-term business contracts can create sharp stock-specific movements even when the broader market remains largely flat.
Disclaimer : This article is for informational and journalistic purposes only and does not constitute investment advice or a recommendation to buy, sell or hold any security. Stock prices can be volatile, and investors should conduct their own research and consult a SEBI-registered investment adviser before making any investment decisions.
.jpg)