The Indian equity market faced significant pressure on Tuesday, December 17, with major indices in the red. The S&P BSE SENSEX was down 765 points, or 0.94%, at 80,983.84, while the NIFTY50 index dropped 232 points, also reflecting a 0.94% fall. Despite the broader market slump, several stocks stood out with notable movements.
CSB Bank was the standout performer of the day, surging 8% to ₹331.7 per share after the bank reported a 4% rise in its profit after tax (PAT) for Q2 FY2024-25. The lender posted a PAT of ₹138.4 crore, up from ₹133.2 crore in the same quarter last year, boosting investor sentiment.
Piramal Pharma also saw significant gains, with shares rising over 5% to ₹263.95. The pharma company reported a four-fold increase in net profit to ₹23 crore for the September quarter, up from ₹5 crore in the year-ago period. Its revenue from operations rose by 17%, fueling investor optimism.
Quess Corp continued its upward trajectory, gaining 8.58% to ₹727.95. The company, specializing in workforce management and technology-enabled outsourcing, saw strong investor interest amid its continued growth in the service sector.
On the flip side, Vedanta and Reliance Industries (RIL) saw declines. Vedanta fell over 1% to ₹507.05, despite announcing an interim dividend, while RIL dropped 1.48%, weighed down by weak financial results and investor sentiment.
HDFC Bank also faced pressure, down 1.44%, following a second warning from SEBI over non-compliance issues related to its listing regulations.
Overall, while the market struggled, stocks like CSB Bank, Piramal Pharma, and Quess Corp stood out, reflecting resilience in the face of broader market challenges.
