Bajaj Auto, HCLTech Lead Weekly Gainers; Power Grid, Trent Also Advance

Mumbai, 26 July: Shares of Bajaj Auto, HCLTech, Trent and Power Grid Corporation of India gained the most during the week ended Friday, with Bajaj Auto emerging as the top gainer after strong quarterly earnings, while HCLTech rallied on plans to invest ₹14,257 crore in an AI data centre in Odisha. Power Grid advanced after raising its borrowing limit, while Trent gained on optimism over its retail growth prospects.

Bajaj Auto: Shares rose 6.58% during the week gone by to Rs 11,130, clocking a market cap of Rs 3,11,081 crore.

Bajaj Auto emerged as the week’s top gainer, with the stock rising after the automaker reported a 42.3% year-on-year jump in first-quarter profit to Rs 2,983 crore, while revenue increased 36.3% to Rs 16,462 crore, helped by strong domestic and export demand.

The company reported a 52% increase in export volumes to 6.36 lakh units, underscoring the strength of its international business. Strong demand for electric two-wheelers also supported the performance, although Bajaj Auto said demand for its Chetak electric scooter continued to outpace supply.

Looking ahead, investors will track the company’s ability to ramp up Chetak EV production and meet growing demand, while its plans to launch electric motorcycles by FY28 could provide another growth avenue. The overseas markets and the trajectory of domestic two-wheeler demand will also remain key monitorables.

At the same time, investors will watch commodity, energy and freight costs, particularly amid ongoing geopolitical tensions. The company’s export momentum, new product launches and progress in electric mobility are likely to remain key drivers for the stock in the coming quarters.

HCLTech: Shares rose 5.57% during the week gone by to Rs 1,271, clocking a market cap of Rs 3,44,907 crore.

HCLTech was among the top weekly gainers after the IT major announced plans to invest Rs 14,257 crore to set up its first AI data centre in Odisha in partnership with Sarvam AI, marking a major push into AI infrastructure and cloud computing. The project will leverage HCLTech’s full-stack AI capabilities and Sarvam’s foundation models to develop sector-specific solutions for government and private-sector clients.

The company will also set up a 5,000-seat technology hub in Bhubaneswar, which is expected to become operational by 2028, further expanding its presence in the region. The investment comes after HCLTech acquired a 10.5% stake in Sarvam AI for $150 million last month.

Looking ahead, investors will watch how the AI data centre investment translates into new revenue opportunities as demand for AI and cloud services accelerates. HCLTech’s ability to monetise its partnership with Sarvam and build a broader full-stack AI offering will be key to assessing the long-term growth potential of the initiative.

The stock could also remain sensitive to broader trends in global technology spending, deal wins and discretionary IT budgets. The company’s increasing focus on AI infrastructure, alongside its traditional IT services business, is likely to remain a key theme for investors in the coming quarters.

Trent: Shares rose 1.69% during the week gone by to Rs 2,891, clocking a market cap of Rs 1,54,131 crore.

Trent was among the top weekly gainers, with the stock benefiting from investor optimism around the strong growth prospects of its retail businesses, particularly Westside and Zudio. The company’s focus on store expansion and its ability to drive sales growth through a differentiated fashion-retail portfolio have kept the stock in focus despite broader market volatility.

The company’s expansion of Zudio, which has emerged as a key growth engine, remains central to the investment story.

Looking ahead, the pace of new store additions, customer footfalls and same-store sales growth will be key monitorables. The company will also need to balance rapid expansion with profitability as it enters newer markets and increases its retail footprint.

Power Grid Corporation of India: Shares rose 1.64% during the week gone by to Rs 288.20, clocking a market cap of Rs 2,68,043 crore.

State-run power transmission major Power Grid was among the top weekly gainers after the company’s board approved a proposal to raise its borrowing limit for FY27 to ₹35,000 crore from ₹30,000 crore, with funding to be raised through various sources, including domestic bonds.

The board also approved a proposal to raise up to ₹35,000 crore in borrowings during FY28 through multiple sources, including domestic bonds.

The borrowing programme is expected to support the company’s investment requirements as India expands its power transmission infrastructure to meet rising electricity demand and integrate renewable-energy capacity. The move also signals continued focus on strengthening and expanding the country’s transmission network.

Looking ahead, investors will track how Power Grid deploys the additional borrowing capacity, particularly towards new transmission projects, renewable-energy evacuation infrastructure and grid expansion. The pace of project awards and execution will remain key drivers for the company’s growth outlook.

At the same time, the market will monitor the impact of higher borrowings on interest costs and leverage. With a large pipeline of transmission investments, Power Grid’s ability to maintain healthy returns while funding expansion will be crucial for sustaining the positive momentum in the stock.

Source: NSE