Stocks making the biggest moves midday: HCL Tech, HUL, Vedanta and more

The markets are absolutely flat but individual stocks are seeing sharp move. Here is a look at the stocks making the biggest moves in midday trade.

Tata Steel

Tata Steel is among the biggest index losers. The share price of Tata Steel is down over 2%. This is after the Q1 deliveries slipped nearly 4%. The company outlined that its Q1 crude steel production stood at 5.26 million tonner and deliveries declined to 4.75 million tonne. The dip in deliveries is primarily on the back of shutdown in the Jamshedpur plant and the Neelachal Ispat Nigam. This also resulted in sharp slide in finished goods production and deliveries were marginally higher in its Netherlands plant and the deliveries in UK plant stayed on course.

HCL Tech

HCL Tech is amongst the top losers in the Nifty IT Index, down 2%. The Tech major will report its Q1 numbers on July 14. All eyes would be on the revenue picture and deal wins announced by the company. Soft IT services and product segments are the key worries. However, currency gains may help offset some impact on the margins.

Mankind Pharma

This is one of the top gainers in the Pharma space and leads the buzzers on the Nifty Pharma Index. The stock has gained almost 5% after Trump announced delaying details of the Pharma tariff . Analysts highlight that not only is it is a sentiment boost to the pharma stocks and all eyes are on the next date for more clarity, there is also a sense of relief for Man Kind Pharma. This is because the company has a primarily domestic-market oriented business with limited exposure to US.

Vedanta

Vedanta has been a key loser in today’s trade. The stock price plunged as much as 8% intra-day today after US-based short seller Viceroy raised concerns about the Vedanta Group’s financial structure. According to the report, ‘the group structure is financially unstable and resembles a ponzi scheme.”

Phoenix Mills

The Phoenix Mill share price has cracked 4% in intra-day trade after Nomura rated the stock with a Reduce on weaker than expected growth. According to Nomura, slow consumption growth in mature malls, ramp-up from FY28F onwards makes the valuation appear stretched. They have set a target price of Rs 1,400 per share. This is nearly 10% below the current market price.