YES Bank, IRFC, and Indiabulls Real Estate Witness High Trading Activity; HDFC Bank and Mankind Pharma Lead Turnover

In the latest market update, shares of YES Bank, Indian Railway Finance Corporation Ltd (IRFC), Indiabulls Real Estate Ltd, Suzlon Energy Ltd, and other companies have experienced significant trading volumes. Meanwhile, HDFC Bank, Mankind Pharma, and other banking shares lead the turnover chart on the exchange as of 11:20 am on Wednesday.

IRFC shares saw a 2.13% decline to Rs 32.30 on the NSE, accompanied by high trading volumes. A total of 529,120,040 IRFC shares were exchanged, amounting to Rs 170.74 crore.

Among the mainboard stocks on the NSE, Indian Railway Finance Corporation Ltd (IRFC), Punjab National Bank (PNB), YES Bank Ltd, Brightcom Group, Indiabulls Real Estate Ltd, and Suzlon Energy Ltd dominated the volume chart. Meanwhile, HDFC Bank Ltd, ICICI Bank Ltd, and the recently listed Mankind Pharma Ltd topped the turnover chart.

IRFC shares experienced a 2.13% decline to Rs 32.30 on the NSE with significant trading volumes. A total of 529,120,040 IRFC shares were exchanged, amounting to Rs 170.74 crore.

PNB witnessed 478,455,595 shares changing hands in the morning trade, with the stock plunging 4.38% to Rs 48.05 on the NSE. YES Bank (382,545,533 shares), Suzlon Energy (205,668,880 shares), Indiabulls Real Estate (182,613,373 shares), and JP Power (155,464,428 shares) were among the stocks that saw declines of up to 2% alongside high trading volumes.

Indiabulls Real Estate shares made headlines after the real estate developer announced that the National Company Law Tribunal (NCLT), Chandigarh Bench, had withheld the sanction for the merger of NAM Estates Private Limited and Embassy One Commercial Property Developments (Embassy One) into Indiabulls Real Estate.

Brightcom Group shares surged 4.86% to Rs 12.95, while Zomato saw a 2.05% increase to Rs 62.20. IRCON International added 0.5%.

In terms of value, HDFC Bank led the turnover chart with Rs 1,663 crore. The stock garnered attention due to reports suggesting potential outflows of $150-200 million for the merged HDFC entity. Index aggregator MSCI updated its clients, stating that it would use an adjustment factor of 0.50 to calculate HDFC merged company weightage.

HDFC Bank was followed by ICICI Bank (Rs 1,104 crore), Mankind Pharma (Rs 567.66 crore), and Axis Bank (Rs 567.63 crore). Other stocks like State Bank of India (SBI), Reliance Industries, Kotak Mahindra Bank, IndusInd Bank, and Tata Motors also witnessed high turnover during the morning trade.

Among the top 10 stocks, four out of six banking stocks were trading lower, with SBI leading the chart with a 1% decline. Shares of Paytm parent company One 97 Communications saw a 2.47% increase.

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