SENSEX Down 41 Points, NIFTY50 Steady; Vodafone Idea, PVR INOX, Ola Electric in Focus

Indian benchmark indices, the SENSEX and NIFTY50, traded without significant movement during Monday's afternoon session. Market sentiment was dampened by weak global cues, continuous selling by foreign investors, and ongoing uncertainty surrounding trade discussions between the US and India.

The SENSEX experienced a decline of 0.05%, or 41.38 points, reaching 85,226.28 at 12:26 PM. Earlier in the day, it had fallen as much as 0.5% to an intraday low of 84,840.32. The NIFTY50 also saw a dip, hitting a session low of 25,904.75, and was trading flat at 26,018, a decrease of 28.95 points or 0.11%.

Oil & Natural Gas Corporation (-2.24%), Eicher Motors (-1.78%), Mahindra & Mahindra (-1.62%), Bajaj Auto (-1.36%), and JSW Steel (-0.92%) were among the main companies whose stock declines dragged down the NIFTY50 index.

Conversely, InterGlobe Aviation (up 2%), Asian Paints (1.2%), Shriram Finance (1.13%), Hindustan Unilever (0.90%), and Tata Consumer Products (0.8%) led the gains.

**Stocks in the Spotlight**

• Refex Industries:** Shares of the electric services provider Refex Industries initially plunged 15.61% to a 52-week low of ₹215.10, but then surged as much as 11.49% to an intraday high of ₹284.20 on the NSE. This volatility followed the company's clarification regarding Income Tax Department search operations at its registered office and other locations associated with the Refex Group. The company stated it fully cooperated with authorities and provided all requested information, adding that it has not received any communication indicating adverse findings from the search. Separately, SEBI imposed a penalty of ₹10 lakh on Anil Jain, a Promoter & Non-Executive Director, which Refex Industries clarified would not impact the company financially or operationally.
• Ola Electric Mobility:** The stock price of Ola Electric Mobility decreased by as much as 1.61%, reaching an intraday low of ₹36.10 on the NSE. This followed the EV maker's announcement on Sunday of Hyperdelivery, offering same-day registration and delivery of its 4680 Bharat Cell-powered vehicles in Bangalore.
• PVR INOX:** Shares of PVR INOX jumped as much as 7.8% to a session high of ₹1,134 after announcing the opening of 5 new screens at Inorbit Mall, Cyberabad, Hyderabad. This transforms the cinema into an 11-screen superplex. PVR INOX now operates 1772 screens across 355 properties in 111 cities (India and Sri Lanka).
• Vodafone Idea (Vi):** Vodafone Idea's stock traded down by as much as 1.2% to a daily low of ₹11.50, after initially rising by 3.35% to a new 52-week high of ₹12.03. A report by The Economic Times suggested that the government is considering offering the company an interest-free moratorium of four to five years on over ₹83,000 crore in pending statutory dues related to adjusted gross revenue (AGR). The report further stated that after the moratorium, the arrears would be paid in six installments, potentially reduced by half after reassessment.
• SEPC Ltd:** Shares of the mining EPC firm SEPC Ltd increased by as much as 13.82% to an intraday high of ₹10.38 after entering a ₹3,299.51 crore mining consortium project with M/s Jai Ambey Roadlines Private Limited and M/s Avinash Transport, forming the JARPL–AT Consortium, for a project awarded by South Eastern Coalfields Limited.
• Corona Remedies:** Shares of the pharmaceutical company Corona Remedies had a strong debut, listing on the NSE at ₹1,470 per share, a 38.42% premium over the IPO price of ₹1,062. On the BSE, the stock began trading at ₹1,452, up 36.72% from the issue price.
• Wakefit Innovations Limited:** Home and furnishings company Wakefit Innovations Limited debuted on the NSE at ₹195 per unit, matching its IPO issue price. On the BSE, the stock opened at ₹194.10, a slight decrease of 0.46% from the issue price.