Indian benchmarks are trading with modest gains on July 1 even as stock-specific action remained strong across cruise tourism, technology, engineering research and PSU financing stocks. The Nifty 50 is hovering around the 24,000 level while the BSE Sensex was trading near the 77,020 mark, gaining around 0.71%.
Here are the top movers and shakers at this hour:
Waterways Leisure Tourism
Waterways Leisure Tourism share price debuted at a 15.72% discount by midday after the Cordelia Cruises operator listed below its IPO issue price. The Rs 585 crore public issue, comprising a fresh issue of shares, was subscribed 1.09 times, with retail investors subscribing their quota more than three times, while institutional participation remained relatively muted. Ahead of the issue, the company had raised Rs 263.25 crore from anchor investors. The company plans to utilise Rs 480.01 crore from the proceeds towards lease payments for Baycruise Shipping and Leasing (IFSC) Pvt Ltd, with the balance earmarked for general corporate purposes. The weak listing reflected cautious market sentiment despite steady retail participation during the subscription period.
KPIT Technologies
KPIT Technologies Ltd. share price crashed 16.7% by midday after the company warned that its Q1 FY27 performance would be weaker than previously expected following an unexpected decline in business from several European automobile manufacturers. The company expects around a 1% decline in dollar revenue on a year-on-year basis, while EBITDA and net profit margins are also likely to contract because there is little scope for immediate cost optimisation. KPIT said the weakness was driven by sudden actions from European OEMs following adverse business outlooks but maintained that demand for autonomous driving, connected mobility, software-defined vehicles, trucks, off-highway vehicles and AI-led engineering remains healthy. Management expects stronger sequential growth during the second half of FY27 supported by its order book and investments in AI-led products and productivity initiatives.
Tata Elxsi
Tata Elxsi Ltd. share price declined 6.3% by midday as investors reacted to KPIT Technologies’ weaker-than-expected outlook, triggering selling across the automotive engineering and embedded software segment. Although Tata Elxsi has diversified operations spanning automotive, healthcare, communications and media, the market viewed KPIT’s warning as an indication that European automobile manufacturers could reduce engineering and software spending across the sector. Investors are now awaiting Tata Elxsi’s own quarterly earnings and management commentary to assess whether similar pressures are emerging in its automotive business.
Tata Technologies
Tata Technologies Ltd. share price slipped 3.3% by midday amid broad weakness in automotive engineering and research stocks after KPIT Technologies lowered its near-term revenue expectations. Investors remain concerned that slower spending by European original equipment manufacturers could affect engineering service providers working on software-defined vehicles and embedded technologies. While Tata Technologies also serves industrial machinery and aerospace clients alongside automotive manufacturers, the stock witnessed selling pressure as market participants reassessed growth expectations for engineering research and development companies ahead of the June quarter earnings season.
HUDCO
Housing and Urban Development Corporation Ltd. share price gained 3.31% by midday after the state-owned housing finance company reported strong business updates for the first quarter of FY27. Loan sanctions surged 93.15% year-on-year to Rs 65,485 crore, while loan disbursements rose 27.83% to Rs 16,377 crore, indicating sustained demand for infrastructure financing. The update follows the company’s recent memorandum of understanding with the Gujarat government to provide financial assistance of up to Rs 1 lakh crore over the next two years for infrastructure projects. Strong operational momentum, coupled with robust FY26 financial performance, including a sharp increase in quarterly profit and higher net interest income, supported buying interest in the stock.
Auto stocks
Auto stocks remained among the strongest performers by midday, lifting the Nifty Auto index nearly 2% after encouraging monthly sales numbers from leading vehicle manufacturers. The sectoral index moved from its opening level of 26,585 to an intraday high of around 26,965, comfortably outperforming the broader market during the session.
Buying was broad-based across the sector. Mahindra & Mahindra led the gains with a rise of about 3%, followed by Ashok Leyland with nearly 2%, Maruti Suzuki with around 1.9%, Bajaj Auto with over 1.5%, and Hero MotoCorp with nearly 1.5%. On the other hand, Bharat Forge, Samvardhana Motherson International, and Tata Motors Passenger Vehicles were among the few stocks trading lower by midday.
Bajaj Auto also remained in focus as its share buyback opened on July 1. The company is repurchasing up to 46.94 lakh fully paid-up equity shares at Rs 12,000 per share through the tender route for a total consideration of up to Rs 5,632.8 crore. The buyback offer will remain open until July 7, 2026.
RITES
Rites Ltd. share price surged more than 12% by midday after the Navratna public sector company secured a consultancy assignment from Babasaheb Bhimrao Ambedkar University (BBAU). The order covers consultancy services for the university and triggered strong buying interest, making the stock one of the biggest gainers in the market during the session. The sharp rally also marked its strongest single-day gain since May 2025 as investors responded positively to the fresh order inflow and the company’s steady project pipeline.
Rane
Shares of Rane (Madras), part of the Rane Group founded in 1929 and a manufacturer and supplier of automotive components, rallied as much as 5.97% to hit their 52-week high of Rs 1,224.90 apiece on the NSE in the early trade on Wednesday, July 1.
The auto component company on Tuesday said it has entered into an agreement with Hindustan Composites to acquire the friction business for an enterprise value of ₹370 crore.
