The benchmark indices surged today on October 16, with the Nifty trading above 23,100 while Sensex almost 400 points, or 0.5 per cent. Shares across the board are moving in either direction on the back of several factors such as quarterly earnings, block deal, sectoral momentum, etc.
Here are the top movers and shakers so far today:
Tech Mahindra
Tech Mahindra shares rallied 7.7 per cent to the day’s high of Rs 1,777.30 on the NSE. The stock was the top gainer in the Nifty50 and topped the Nifty IT index as well. The surged in the stock price came after the company reported its quarterly earnings for the second quarter of the current financial year.
The rally in Tech Mahindra further bolstered IT stocks like Wipro (up 5.5 per cent), Infosys (up 3.7 per cent), Tata Consultancy Services (up 3.3 per cent), and many others. The Nifty IT surged as much as 3.5 per cent, continuing the winning streak for the fourth consecutive session.
PC Jeweller
PC Jeweller share price today rallied 18.68 per cent to hit a fresh 52-week high of Rs 17.15 on the NSE. The significant upside in the stock came after the announcement of CUPID promoter Aditya Kumar Halwasia buying 5.10 crore PC Jeweller shares, paying Rs 14.43 per share. This sparked strong buying interest in the jewellery stock. Also, the company recently announced to achieve debt-free status. The rally was further supported by buzz around strong Q2 2026 results and business expansions in the pipeline.
Karur Vysya Bank
Karur Vysya Bank shares surged almost 6 per cent to the day’s high of Rs 365.90 on the NSE, hitting a fresh 52-week high, a day after the company reported its September quarter (Q2FY27) results.
The lender reported a 41 per cent year-on-year (YoY) rise in its net profit to Rs 1,543 crore for Q2FY27. Deposits increased by 16 per cent YoY and 4.52 per cent QoQ, while advances jumped 20.35 per cent YoY and 6.60 per cent QoQ. The bank’s net interest margin (NIM) increased by 28 bps YoY to 4.34 per cent.
Persistent Systems
Persistent Systems’ stock price tumbled more than 5 per cent after the company reported its earnings for the September quarter of FY27. The company posted a 5 per cent YoY rise in consolidated net profit, excluding exceptional expenses, to Rs 495.15 crore in the second quarter of FY27. However, reported net earnings declined 25.4 per cent to Rs 351.51 crore after the company incurred an exceptional expense of Rs 185.34 crore related to its proposed acquisition of Nagarro.