The Indian stock markets rallied in afternoon trade supported by broad-based buying across auto, capital goods and oil-linked sectors after global crude oil prices declined sharply. The Nifty 50 was hovering around the 23,960 level, up nearly 1.42%, while the Sensex was trading near the 76,630 mark, gaining around 1.46%.
Sentiment improved on reports that the United States and Iran had agreed on a peace deal and this could lead to the reopening of the Strait of Hormuz, easing concerns around global oil supply disruptions. Falling crude prices triggered strong buying across automobile, infrastructure and oil marketing stocks, while company-specific developments kept several counters active.
Here are the top movers and shakers at this hour –
Eternal
Quick commerce major Eternal Ltd. remains in focus and the share price of Eternal surged over 4%. The quick commerce space is in focus after Zepto filed updated IPO papers. The quick commerce arm of Eternal, Blinkit, currently remains ahead in terms of scale. As per recent reports, it has generated Rs 37,779 crore revenue during FY26. In comparison, Zepto reported revenue of Rs 22,623 crore, while Instamart posted revenue of Rs 3,859 crore.
Blinkit also operates the largest dark store network among the three players as of now. Zepto, though is seen as, generating more orders from each individual location.
Vedanta Power
Vedanta Power Ltd. share price advanced nearly 3% by midday after the newly demerged entity made its market debut.
The stock attracted buying interest following its listing, with investors assessing the standalone valuation of the power business under Vedanta’s restructuring exercise. Market participants continued to monitor price discovery across all newly separated entities after the group’s demerger became effective.
The listing marks a significant step in Vedanta’s restructuring strategy, which aims to create separate focused businesses across power, aluminium, oil and gas, iron and steel, and base metals.
Vedanta Iron and Steel
Vedanta Iron and Steel share price gained more than 5% by midday after listing as part of the Vedanta demerger exercise.
The stock emerged among the stronger performers within the newly listed entities as investors evaluated its standalone steel and mining business prospects. Buying interest remained firm throughout the morning session as price discovery continued across the demerged companies.
Vedanta Aluminium Metal
Vedanta Aluminium Metal share price declined 5% by midday and remained locked at the lower circuit limit after listing.
The stock faced selling pressure as investors reassessed valuations following the separation from the parent company. The aluminium business remains one of the largest components of the erstwhile Vedanta structure, but market participants preferred to book profits immediately after listing.
Vedanta Oil and Gas
Vedanta Oil and Gas share price slipped around 5% by midday following its market debut.
The decline reflected ongoing price discovery after the demerger. Market participants remained focused on future production growth, commodity prices and the company’s standalone financial profile as the oil and gas business begins trading independently.
Larsen & Toubro
Larsen & Toubro share price surged nearly 4% by midday, emerging among the top gainers within the Nifty 50 index.
The rally was largely driven by easing geopolitical concerns after the reported US-Iran agreement. Lower crude oil prices and improving global risk sentiment supported buying in capital goods and infrastructure companies.
L&T has outperformed the broader market in 2026 and continues to benefit from strong order inflows across domestic infrastructure, defence, energy and international projects. Investors also viewed easing global tensions as positive for execution activity and capital expenditure trends.
Oil Marketing Companies
Oil marketing company share prices rallied sharply by midday after crude oil prices witnessed a steep decline.
HPCL gained nearly 4%, emerging as the strongest performer among the state-run fuel retailers. Indian Oil advanced around 3%, while Bharat Petroleum Corporation Ltd. climbed approximately 2.6%.
The reopening of the Strait of Hormuz is expected to improve oil supply visibility and reduce freight-related uncertainties. Lower crude prices generally support marketing margins for fuel retailers and reduce concerns around inventory losses.
The development was particularly positive for India given its dependence on crude imports from Gulf nations. The easing of geopolitical tensions therefore improved sentiment across the entire downstream energy segment.
Auto Stocks
Auto stocks share prices rallied strongly by midday, helping the Nifty Auto index surge around 2.7% during the session.
The rally was driven by a sharp correction in global crude oil prices, which have declined more than 7% over the last two trading sessions. Lower crude prices generally reduce input costs for automobile manufacturers as several raw materials including plastics, synthetic rubber, paints and petrochemical derivatives are linked to oil prices. Demand expectations also improve as lower fuel prices support consumer spending.
Among major gainers, Tata Motors Commercial Vehicles jumped nearly 9%, while Ashok Leyland advanced about 5.5%. Tata Motors Passenger Vehicles, Maruti Suzuki India, Samvardhana Motherson, Uno Minda, Mahindra & Mahindra, TVS Motor and Eicher Motors gained between 2% and 4% by midday.
The broader trigger remained the proposed US-Iran peace agreement and expectations of normalised shipping activity through the Strait of Hormuz, a route that handles a significant share of global crude exports.
Suzlon Energy
Suzlon Energy Ltd. share price gained nearly 2% by midday after strong operational updates continued to support sentiment around the renewable energy company.
Suzlon delivered 830 MW during the fourth quarter of FY26, marking its highest-ever quarterly delivery and the highest quarterly delivery recorded by any wind energy company in India. The performance contributed to a 58% year-on-year increase in annual deliveries.
The company also reported revenue of Rs 5,468 crore and EBITDA of Rs 964 crore during the quarter. EBITDA grew 39% year-on-year, supported by higher execution and operating leverage. Project commissioning improved significantly as Suzlon commissioned 332 MW during Q4 FY26, representing growth of 250% compared with the corresponding period last year.
The strong execution numbers continue to reinforce confidence in the company’s order book conversion and operational capabilities.
SEPC
SEPC Ltd. share price surged more than 13% by midday after the engineering and EPC company secured a major order worth Rs 673.32 crore from Steel Authority of India’s IISCO Steel Plant at Burnpur.
The contract forms part of IISCO’s 4.08 MTPA crude steel expansion programme and includes two major packages. The coke oven balance of plant package is valued at Rs 296.77 crore, while the sinter plant package is worth Rs 376.56 crore.
The projects are scheduled for execution over 30 to 33 months, providing strong revenue visibility for the company. Management stated that the order marks a significant milestone in strengthening its presence across large industrial infrastructure projects. The order win also comes at a time when India’s steel sector continues to undertake capacity expansion driven by infrastructure spending and manufacturing growth.
IFCI
IFCI Ltd. share price climbed more than 7% by midday, extending gains for a second straight session amid growing optimism surrounding the National Stock Exchange’s anticipated IPO process.
The state-owned financial institution holds a 52.86% stake in Stock Holding Corporation of India, which in turn owns around 4.4% of the National Stock Exchange. Market participants view IFCI as an indirect beneficiary of any progress toward NSE’s long-awaited public listing.
The stock has rallied sharply over the last two trading sessions as expectations build around NSE potentially filing draft IPO documents with the market regulator. The indirect ownership structure has made IFCI one of the preferred proxy plays linked to the NSE listing story.
