Trending Stocks Today: Vodafone Idea Continues As Most Traded While Ola Electric Keeps Racing On India’s EV Push Buzz

Mumbai, May 20: Telecom, defence, EV and specialty chemical stocks dominated trading activity on the NSE on Wednesday, with investors chasing momentum-driven counters amid stock-specific triggers such as fundraising plans, strong earnings, bonus issues and sectoral optimism.

Vodafone Idea, Apollo Micro Systems, Ola Electric Mobility and Fineotex Chemical emerged among the most actively traded stocks by volume on the NSE, extending recent gains as investors continued to rotate into high-beta retail favourites despite concerns around valuations, debt levels and competitive pressures.

Vodafone Idea (up 0.22%)

Shares of Vodafone Idea edged higher on Wednesday after hitting a 52-week high in the previous session, although analysts continued to see limited upside for the stock, which remained among the most actively traded counters for at least the sixth straight day.

The stock had rallied sharply a day earlier after the telecom operator said it was “deeply engaged” with an SBI-led consortium for a proposed ₹35,000-crore funding package, reviving investor hopes around its long-delayed network expansion and 5G rollout plans.

Chief Executive Officer Abhijit Kishore said talks with lenders were advancing quickly in the wake of recent relief on adjusted gross revenue (AGR) dues and proposed promoter equity infusion steps.

The rebound came after the stock had slipped in the previous session as investors looked beyond the company’s proposed ₹4,730-crore capital infusion by the Aditya Birla Group and focused on weak operating performance.

Vodafone Idea reported a consolidated net profit of ₹51,970 crore for the March quarter, largely driven by a one-time accounting gain linked to AGR liabilities. However, revenue growth remained muted at around 3% year-on-year, raising concerns about the company’s ability to compete effectively in the highly competitive telecom market.

Despite the renewed optimism around funding support, investors remain cautious about the company’s heavy debt burden.

Fineotex Chemical (up 2.41%)

Shares of the speciality chemicals company backed by ace investor Ashish Kacholia extended gains for a third straight session on Wednesday, building on the sharp rally seen in the previous trading day.

The stock had surged after the company announced a 4:1 bonus issue along with a final dividend of ₹0.05 per share, boosting investor sentiment. The rally also came after its quarterly earnings announcement.

For the March quarter, the company reported a 9.58% year-on-year decline in standalone net sales to ₹97.60 crore, while net profit rose 8.72% to ₹21.14 crore. EBITDA, however, fell 4.1% during the quarter, reflecting pressure on operating performance.

The company said its recently acquired U.S.-based oil and gas specialty chemicals business, CrudeChem Technology, was now operating at optimal efficiency levels, aided by strong demand and improved operational execution.

As part of its expansion plans, the company also added a new 15-acre facility in Midland, located in the Permian Basin, one of the world’s largest energy hubs, further strengthening its presence in the U.S. energy chemicals market.

The counter has significantly outperformed the broader market over the past month, driven by optimism around its expansion strategy, improved profitability and shareholder reward announcements.

Apollo Micro Systems (up 6.11%)

Shares of Apollo Micro Systems surged to a record high on Wednesday, extending gains for a third straight session after the company reported a strong March-quarter performance that boosted investor sentiment around the defence stock.

The stock jumped as much as 24% over the last three trading sessions, driven by sharp growth in profit, revenue and operating margins. The rally also comes amid continued optimism around India’s defence manufacturing sector and increasing investor interest in defence-focused midcaps.

Apollo Micro Systems reported a 169% year-on-year jump in consolidated net profit for the March quarter, while revenue from operations surged 81.3%. EBITDA rose nearly 88%, with EBITDA margin improving to 23.1% from 22.2% a year ago.

For the full FY26 financial year, the company posted revenue of Rs 904 crore, up 61% year-on-year, marking its highest-ever annual revenue performance.

Investor sentiment was further supported by the company’s strong order pipeline and expansion plans across defence and aerospace segments. Apollo Micro Systems manufactures electronic and electro-mechanical systems used in missiles, torpedoes, avionics, underwater weapons and space applications.

The stock has emerged as one of the standout performers in the defence pack over the past year, aided by the government’s push for indigenous defence manufacturing and higher defence procurement spending.

Ola Electric Mobility (up 1.59%)

Shares of Ola Electric Mobility extended gains on Wednesday ahead of the company’s earnings due early next week, helped by optimism around potential government incentives aimed at accelerating electric vehicle adoption.

Investor sentiment improved after a report suggested the government is considering incentives worth more than $1 billion to encourage private-sector adoption of electric buses and trucks, boosting the outlook for companies operating in the broader EV ecosystem.

The latest rally comes even as the stock had declined five sessions ago despite the company approving a ₹2,000-crore investment in its electric vehicle and battery cell subsidiaries, amid persistent concerns over rising competition in the electric two-wheeler segment.

Earlier this year, Ola Electric had posted a narrower third-quarter loss.

Once dominating nearly half of India’s electric scooter market, Ola Electric has gradually lost market share to established automakers such as Bajaj Auto and TVS Motor Company, which expanded distribution networks and launched competing electric scooter models. Competition has also intensified from rival EV player Ather Energy.

Investors are now expected to closely monitor the company’s upcoming earnings for commentary on demand trends, margins, market share recovery and progress in scaling up its battery manufacturing operations.

Source:

• NSE