While Indian equity markets remained steady, several stocks saw significant movement. Vodafone Idea rose on unconfirmed reports of potential government relief on its dues. PVR INOX gained from expansion and movie success.
Indian equity markets traded in a tight range during the midday session on Monday, with the Sensex hovering around 85,200 and the Nifty holding near 26,018. While the headline indices showed little movement, several stocks saw sharp action on the back of policy chatter, IPO excitement, brokerage calls and company-specific updates.
Vodafone Idea Rises on Fresh AGR Relief Buzz
Vodafone Idea shares jumped as much as 3.3 per cent in early trade after fresh reports suggested possible government relief on its massive AGR dues. According to reports, the Centre may be considering an interest-free moratorium of four to five years on over Rs 83,000 crore of pending AGR-related statutory dues.
Though the news lifted sentiment, there has been no official confirmation so far. As a result, the stock gave up part of its gains by midday as traders booked profits.
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PVR INOX Gains on Expansion Push and Movie Buzz
Shares of PVR INOX climbed 4.6 per cent, driven by optimism around rising footfalls and continued expansion of premium cinema formats. Investor confidence was boosted by the success of the film Dhurandhar and the company's focus on high-value screens.
Recently, PVR INOX added five new screens at Inorbit Mall in Cyberabad, turning the location into an 11-screen superplex with Luxe, PXL and 4DX formats. With this addition, the multiplex operator now runs 1,772 screens across 355 properties in 111 cities in India and Sri Lanka.
Corona Remedies Delivers Strong Listing Pop
Corona Remedies made an impressive market debut, with its shares surging sharply on listing day. The stock debuted at Rs 1,470 on the NSE, a premium of 38.42 per cent over the IPO price of Rs 1,062. On the BSE, it listed at Rs 1,452, up 36.72 per cent.
The Rs 655.68 crore IPO, which was entirely an offer-for-sale, saw strong demand thanks to the company's well-established domestic formulations business and its promoter pedigree.
Hindustan Zinc Edges Up as Silver Rally Continues
Hindustan Zinc shares traded marginally higher, gaining around 0.15 per cent, after global brokerage Jefferies initiated coverage on the stock. The counter has rallied more than 15 per cent over the past five sessions, riding the ongoing surge in global silver prices.
Silver prices have jumped over 120 per cent so far in 2025 and are hovering near record highs. As India's only listed pure-play silver exposure, Hindustan Zinc has benefited from this trend. Jefferies expects strong earnings momentum, forecasting EPS growth of 22 per cent in FY26, 29 per cent in FY27 and 7 per cent in FY28.
ONGC Slides After 'Sell' Call from Axis Capital
ONGC shares fell up to 2 per cent in midday trade, extending losses to a fourth consecutive session. The decline followed Axis Capital initiating coverage on the stock with a 'Sell' rating and a target price of Rs 205.
On Monday, the stock had dropped 3.4 per cent to touch a low of Rs 229.95 on the BSE. While Axis Capital's target implies around 11 per cent upside from recent levels, the cautious outlook weighed on investor sentiment.
