Trending Stocks Today, September 28, 2026: Vodafone Idea, Hero Motors, YES Bank, PC Jeweller

Mumbai, September 28: Vodafone Idea, Hero Motors, YES Bank and PC Jeweller were the most actively traded stocks by volume on the NSE on Monday, with all four shares trading lower amid stock-specific developments. Vodafone Idea and Hero Motors fell more than 4% each, while YES Bank declined 4.36%. PC Jeweller, meanwhile, slipped 1.63% after its recent debt-free announcement triggered buying interest before profit booking emerged. 

PC Jeweller Limited (down 1.63%) 

PC Jeweller shares were in focus on Monday after the jewellery retailer announced that it had become completely debt-free by clearing outstanding dues to all 14 consortium banks ahead of their scheduled repayment dates. Shares gained before coming under profit booking. The stock is up 49% so far in 2026. 

The company had entered into a one-time settlement with the 14-bank consortium in September 2024 to resolve its outstanding borrowings. The lenders included State Bank of India, Union Bank of India, Punjab National Bank, Axis Bank, IndusInd Bank, Bank of India, IDBI Bank, Karur Vysya Bank, Kotak Mahindra Bank, Indian Overseas Bank, Canara Bank, Indian Bank, Bank of Baroda and IDFC First Bank. PC Jeweller said completing the repayments would materially strengthen its balance sheet and financial position. 

The debt reduction comes alongside an improvement in the company’s operating performance. PC Jeweller reported a consolidated net profit of Rs 221.88 crore for the June quarter, up 37% year-on-year, while revenue from operations rose 21% to Rs 877 crore. Operating profit after tax, excluding other income, increased sharply to Rs 213 crore from Rs 79 crore in the year-ago period. 

The company’s shares have also delivered strong returns over a longer period. After touching a 52-week low of Rs 7.47 in March, the stock closed at Rs 14.11 last week. It has gained around 8% in a week and 27% over the past month, while its three-year and five-year gains stand at more than 400%. 

Vodafone Idea Limited (down 4.21%)  

Vodafone Idea shares were in focus on Monday after a global broker assessed the telecom operator’s new free international roaming offering across prepaid, postpaid and enterprise plans. Vi has introduced free international roaming as a standard benefit, with postpaid plans starting at Rs 501, annual prepaid unlimited data plans and corporate plans starting at Rs 451. The broker said the differentiated proposition could help Vi attract premium subscribers from Bharti Airtel and Reliance Jio, while also encouraging existing prepaid customers to shift to annual plans, potentially lowering churn and improving working capital. 

The brokerage, however, retained a ‘Neutral’ rating on Vodafone Idea, citing its valuation premium over Bharti Airtel and stretched cash-flow position. It expects Vi’s EBITDA to grow at a slightly higher 15% CAGR from a lower base, supported by improving operating metrics. It said the strategy appears focused more on subscriber growth and retention, even if that comes at the expense of some average revenue per user (ARPU). The broker added that international roaming currently contributes only a small portion of telecom revenues, meaning the impact on overall revenue remains limited. 

Hero Motors Limited (down 4.22%) 

Hero Motors shares were in focus on Monday after the stock hit the 10% upper circuit before investors booked profits with the stock hitting the 10% lower circuit and then resuming trade in the red. This follows a sharp post-listing rally. The shares had debuted at a discount to the Rs 84 IPO price on September 23, but reversed course soon after and rallied sharply over the next few sessions. 

Hero Motors had raised Rs 1,000 crore through its IPO, comprising a fresh issue of Rs 600 crore and an offer-for-sale component of Rs 400 crore. The company plans to use Rs 190 crore from the fresh issue to repay or prepay borrowings, while another Rs 200 crore has been earmarked for purchasing equipment for capacity expansion at its Gautam Buddha Nagar facility in Uttar Pradesh. The remaining proceeds will support inorganic growth, strategic initiatives and general corporate purposes. 

Yes Bank Limited (down 4.36%) 

YES Bank shares came under pressure on Monday after a foreign brokerage placed the private sector lender on a negative watch over the potential impact of large FCNR(B)-linked inflows on banks’ earnings. It has a ‘Sell’ rating on YES Bank with a target price of Rs 22. The brokerage expects net interest margin (NIM) for YES Bank to decline by 12 basis points as the influx of foreign-currency deposits weighs on margins. 

Source

• NSE