Synopsis : Indian markets remained under pressure by midday on September 2, but several stocks saw sharp company-specific moves. Coal India and Vodafone Idea gained, while Milky Mist hit the upper circuit. IndiGo, SpiceJet and Hero MotoCorp declined amid rising fuel costs, competitive concerns and mixed sales data.
Coal India and Vodafone Idea gained despite a weak market, while Hero MotoCorp and IndiGo slipped as company-specific developments, rising fuel costs and competitive pressures drove sharp midday moves.
The domestic equity market traded under pressure by midday on September 2, with the Nifty hovering around 23,850 and the Sensex near 76,380. Rising crude oil prices and renewed tensions in West Asia weighed on broader sentiment, although company-specific developments kept several stocks active during the session.
Here are the top movers and shakers at this hour:
Coal India gains 4% as August coal supplies rise
Coal India share price gained around 4% by midday on Wednesday after the state-owned miner reported a 5.5% year-on-year increase in total coal supplies to 60.60 million tonnes in August FY27.
Supplies to the power sector increased 4.5% to 48.46 MT, while supplies to the non-regulated sector rose 9.6% to 12.12 MT.
Total supplies during April-August reached 322.90 MT, marking a 6.70% increase from the year-ago period.
The company also liquidated around 55 MT of pithead stocks. Coal India said around 76 MT of coal remains available at its pitheads as it prepares to increase production and supplies following the monsoon.
The strong supply numbers supported buying interest in the stock despite the broader market weakness.
Vodafone Idea rises 4.69% after new brand identity launch
Vodafone Idea share price rose around 4.69% by midday despite the weak market.
The telecom operator unveiled a new brand identity and announced Bollywood actor Shah Rukh Khan as the face of its upcoming campaign.
The new identity is being rolled out across consumer touchpoints, digital platforms, retail outlets and communications from September 1.
The stock has also gained around 13% over the past month.
Vodafone Idea has placed capital expenditure orders worth around Rs 9,000 crore for FY27, according to comments made by chairman Kumar Mangalam Birla at the company's annual general meeting.
The combination of the new branding, planned capex and expectations around network investment kept the stock in focus.
Milky Mist hits upper circuit while ice cream stocks face pressure
Ice cream and dairy stocks saw contrasting moves after Reliance Consumer Products entered the ice cream market with its Bombay Creamery brand.
Kwality Wall's share price fell around 3% by midday, while Vadilal Industries declined around 3.07% in early trading as investors assessed the potential competitive impact of a major new entrant.
Reliance initially plans to sell Bombay Creamery products across Western India before expanding nationally, with prices starting at Rs 10.
Milky Mist, however, moved sharply in the opposite direction.
The stock gained around 10% and hit the upper circuit after the company reported an almost 10-fold increase in net profit for the April-June quarter.
Revenue increased 43.6%, while EBITDA margin improved by 264 basis points.
The contrasting moves highlight how company-specific earnings can outweigh broader sector concerns.
IndiGo and SpiceJet fall as aviation fuel costs rise
InterGlobe Aviation, the parent company of IndiGo, declined nearly 3% by midday, while SpiceJet fell around 2%.
The weakness came as higher aviation turbine fuel costs continued to pressure airline stocks.
ATF prices were increased 5.46% from September 1 to Rs 121.28 per litre, following a Rs 5 per litre increase in August.
That takes the increase over the two-month period to Rs 11.28 per litre.
Fuel typically accounts for around 30% to 40% of airline operating costs, making crude oil and ATF prices an important factor for airline profitability.
Brent crude also moved above $95 per barrel amid renewed tensions involving the US and Iran, adding another layer of pressure to the sector.
Investors are therefore watching whether higher fuel costs can be absorbed without significantly affecting airline margins.
Hero MotoCorp slides 6.8% despite firm retail demand
Hero MotoCorp share price declined around 6.8% by midday despite the company reporting a 2.64% year-on-year increase in total August dispatches to 5,68,398 units.
Retail demand remained comparatively strong, with VAHAN registrations showing 19% growth from the previous year.
However, motorcycle dispatches fell 2% to 4,93,851 units from 5,01,523 units a year earlier.
The divergence between retail registrations and wholesale dispatches is likely to remain an important factor for investors as Hero MotoCorp enters the post-monsoon period.
Market focus shifts to company-specific triggers
The broader market remained weak by midday, with the Nifty and Sensex both trading lower.
However, individual stocks continued to see sharp movements based on company-specific developments.
Coal India benefited from stronger coal supplies, while Vodafone Idea gained following its new branding initiative and planned network investment.
Milky Mist surged after strong quarterly earnings, while Kwality Wall's and Vadilal Industries came under pressure from the entry of a major new competitor.
In the aviation sector, IndiGo and SpiceJet faced pressure from rising ATF and crude oil prices. Hero MotoCorp, meanwhile, declined despite an increase in overall dispatches as investors focused on the fall in motorcycle volumes.
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. The information and stock movements mentioned are based on market developments and company announcements available at the time of writing. Investors should conduct their own research and consult a SEBI-registered investment adviser before making investment decisions.
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