Trending Stocks Today: Vodafone Idea Remains Top Traded Stock; Sammaan Capital Jumps, Ola Electric Slides

Mumbai, May 21: Vodafone Idea remained the most actively traded stock on the NSE by volume for at least the seventh consecutive session on Thursday, extending gains as investors continued to cheer the telecom operator’s proposed ₹35,000-crore funding discussions with an SBI-led lender consortium.

Among other heavily traded counters, Jaiprakash Power Ventures gained after Adani Power signed definitive agreements to acquire a 24% stake in the company and related assets from Jaiprakash Associates as part of the latter’s insolvency resolution process.

Sammaan Capital surged even after reporting a wider March-quarter loss, as investors focused on balance-sheet clean-up efforts and expectations of improvement in the lender’s core business.

In contrast, Ola Electric Mobility fell after the electric scooter maker reported a sharp 57% drop in quarterly revenue, sparking concerns around slowing demand, rising competition and weak near-term growth visibility despite a narrowing in losses.

Vodafone Idea (up 1.03%)

The company extended gains on Thursday and remained the most actively traded stock for at least the seventh consecutive session, building on Wednesday’s rise after touching a 52-week high in the previous trading day.

The sharp rebound was triggered after the telecom operator said it was “deeply engaged” with an SBI-led consortium for a proposed ₹35,000-crore funding package, rekindling investor hopes around its long-delayed network expansion and 5G rollout plans. Chief Executive Officer Abhijit Kishore said discussions with lenders were progressing “rapidly” following recent relief on adjusted gross revenue (AGR) dues and proposed promoter equity infusion measures.

The renewed buying interest came after the stock had declined in the previous session, as investors shifted focus from the Aditya Birla Group’s proposed ₹4,730-crore capital infusion to the company’s weak operational performance.

Vodafone Idea reported a consolidated net profit of ₹51,970 crore for the March quarter, primarily due to a one-time accounting gain related to AGR liabilities. However, revenue growth remained subdued at around 3% year-on-year, underscoring concerns over the company’s competitive positioning in India’s fiercely contested telecom sector.

While optimism around fresh funding and government relief measures has improved near-term sentiment, investors continue to remain wary of Vodafone Idea’s massive debt burden and the significant capital expenditure required to meaningfully expand its network and compete with larger rivals.

 Jaiprakash Power Ventures (up 3.33%)

Shares jumped sharply on Thursday after Adani Power signed definitive agreements to acquire a 24% stake in the company and related power assets from Jaiprakash Associates as part of the latter’s insolvency resolution process.
The stock rallied after reports said the total transaction value stood at over ₹4,193 crore, with Adani Power set to acquire Jaiprakash Associates’ stake in Jaiprakash Power Ventures for nearly ₹2,994 crore.

Investor sentiment around the stock has remained upbeat in recent weeks amid expectations that the Adani Group’s takeover of Jaiprakash Associates could unlock value for Jaiprakash Power and strengthen its long-term growth prospects.

The acquisition forms part of the National Company Law Tribunal-approved resolution plan for debt-laden Jaiprakash Associates and marks another expansion move by Adani Power as it looks to bolster its generation capacity and power sector footprint.

Sammaan Capital (up 8.05%)

Shares rallied on Thursday despite the company reporting a wider March-quarter loss, as investors appeared to look past one-time exceptional charges and focus on expectations of improvement in the lender’s core business.

The stock gained in trade after the company posted a consolidated net loss of ₹8,101 crore for the fourth quarter. The sharp increase in losses was primarily due to exceptional items worth ₹6,499 crore.

Market participants took comfort from management commentary around balance-sheet clean-up.

The rally in the stock also came amid broader strength in domestic markets, supported by positive global cues and easing crude oil prices.

Ola Electric Mobility (down 3.95%)

Shares fell after the EV maker reported a sharp 57% year-on-year drop in quarterly revenue to ₹265 crore, overshadowing a narrowing in net losses driven by aggressive cost-cutting measures. The company posted a consolidated net loss of ₹500 crore for the March quarter, compared with ₹870 crore a year ago, while investors remained worried about slowing demand, shrinking market share and intensifying competition in India’s electric scooter segment.

Brokerages maintained a cautious stance on the stock, with Emkay Global reiterating its “Sell” rating and warning of further downside amid weak revenue visibility and continued pressure on deliveries. Analysts also flagged concerns around rising competition from rivals such as Bajaj Auto, TVS Motor and Ather Energy.

Source:

• NSE