Trending Stocks Today, September 10, 2026: Ola Electric, Vodafone Idea, PC Jeweller, IFCI In Focus

Mumbai, September 10: Shares of Ola Electric, Vodafone Idea, PC Jeweller and IFCI were among the most actively traded stocks by volume on the NSE on Thursday, September 10. Ola Electric led the gains among the stocks in focus, rising 7.16%, while PC Jeweller advanced 0.58%. Vodafone Idea and IFCI, meanwhile, declined 2.71% and 3.32%, respectively, despite separate developments around their businesses and valuations. Investors tracked Ola Electric’s expanding dealer network, PC Jeweller’s progress on debt repayment, a bullish view on Vodafone Idea and concerns over the valuation of IFCI’s indirect stake in the upcoming NSE IPO. 

Vodafone Idea Limited (down 2.71%) 

Shares of Vodafone Idea declined on Thursday, September 10, despite a global brokerage initiating coverage on the telecom operator with a ‘Buy’ rating and a price target of ₹20 per share. 

It described Vodafone Idea as a “high-beta turnaround” opportunity, pointing to stabilising subscriber trends, potential tariff hikes and operating leverage as key drivers of a potential recovery. The brokerage expects the company’s improving operating profile to translate into stronger revenue and cash EBITDA growth over the coming years. 

According to the broker, Vodafone Idea could see revenue grow at a compound annual growth rate of 11% between FY26 and FY29 as subscriber trends stabilise. The brokerage also expects premiumisation and tariff-led growth in average revenue per user to help the company defend its revenue market share. 

Network investments are expected to play an important role in the recovery. It expects increased spending on the network to reduce subscriber churn and support gross additions, with subscriber additions potentially turning positive from FY28. The brokerage also sees room for premiumisation because Vodafone Idea has a lower proportion of data subscribers compared with peers. 

PC Jeweller Limited (up 0.58%) 

Shares of PC Jeweller extended gains for a second consecutive session as investors remained upbeat about the jewellery retailer’s progress towards becoming debt-free. 

PC Jeweller shares have gained around 33% in a week, while the stock has delivered a staggering return of over 400% over the past three years. The recent surge has been driven primarily by improving balance-sheet conditions and expectations that the company could complete its debt repayment programme this month. 

The key trigger for the recent rally has been the company’s progress in clearing its outstanding bank debt. PC Jeweller has now repaid dues to 10 of the 14 banks that form part of its consortium, bringing it significantly closer to its stated objective of becoming debt-free. 

The company had earlier indicated that it was working towards clearing the remaining obligations by the end of September. Each fresh repayment announcement has strengthened investor sentiment around the stock, as the reduction in debt is expected to ease financial pressure and improve the company’s balance sheet. 

Ola Electric Mobility Limited (up 7.16%) 

Shares of Ola Electric rallied on the NSE on Thursday, September 10, as investors stepped in for value buying after the stock declined for two consecutive sessions. The sharp recovery also came days after the electric two-wheeler maker announced the launch of its first batch of dealer-operated stores across several states. 

The latest buying interest comes after Ola Electric expanded its sales and service network through partners. The company’s first batch of network-partner stores went live within a month of it opening its sales and service network to dealers. 

The first cohort of dealer-led outlets became operational across Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh and Madhya Pradesh. The company expects the network to strengthen its presence in regional markets and improve access to its electric scooters and motorcycles. 

The expansion comes as Ola Electric looks to improve its distribution footprint and support volumes after a difficult period for the business. Increasing physical presence through partner-operated outlets could help the company reach customers in markets where its direct network has been relatively limited. 

IFCI Limited (down 3.32%) 

Shares of IFCI Ltd declined for a third straight session as reports of a lower-than-expected price band for the upcoming National Stock Exchange (NSE) IPO raised concerns over the valuation of the state-owned lender’s indirect holding in the exchange. 

The stock came under pressure after reports suggested that NSE could price its IPO at ₹1,700-₹1,785 per share, below the previously indicated range of ₹2,000-₹2,100. At the upper end of the reported band, the exchange would be valued at around ₹4.4 lakh crore, or roughly $46.4 billion. 

NSE is also reportedly considering reducing the size of the IPO to around 5.5% of its equity capital from the earlier proposed 6%. Its draft offer document had provided for an offer for sale of up to 14.89 crore shares. 

Investors had been factoring in the potential value unlocking from the exchange’s public-market debut, making the reported pricing a negative read-through. 

IFCI’s exposure to NSE comes through Stock Holding Corporation of India, in which IFCI holds more than 50% stake. Stock Holding Corporation, in turn, owns more than 4% of NSE. 

As a result, any revision in NSE’s valuation can have a bearing on the perceived value of IFCI’s indirect holding. The possibility of NSE being valued below earlier expectations has therefore weighed on IFCI shares after their recent rally. 

NSE has not officially confirmed the reported IPO price band. The exchange is expected to make its stock market debut in the week beginning September 21, in what could be one of the largest public offerings in India’s capital markets. 

The NSE IPO has attracted significant investor attention given the exchange’s dominant position in India’s equity and derivatives markets. Its listing is also expected to provide a market-based valuation for the exchange and potentially unlock value for its existing shareholders. 

For IFCI, however, the final NSE valuation and the size of the stake ultimately offered to public investors will remain key factors in determining the value attributed to its indirect holding. 

Source

• NSE