Trending Stocks Today, September 30, 2026: Vodafone Idea, PC Jeweller, Hero Motors, Syncom Formulations in Focus

Mumbai, September 30: Vodafone Idea, PC Jeweller, Hero Motors and Syncom Formulations were the most actively traded stocks by volume on the NSE on Wednesday, with the four stocks seeing divergent price action. Vodafone Idea and Syncom Formulations declined 2.80% and 4.32%, respectively, while PC Jeweller gained 2.19%. Hero Motors surged 10% to hit its upper circuit, extending its sharp rally since listing. 

Vodafone Idea Limited (down 2.80%) 

Vodafone Idea shares fell on Wednesday after rising in the previous session. Shares rose on Tuesday after TRAI data showed that the telecom operator continued to add mobile subscribers in August. Vi added more than 5 lakh users during the month, extending its run of subscriber gains since February. 

The company’s mobile subscriber base increased to 19.96 crore in August from 19.91 crore in July, lifting its market share to 15.43% at the end of the month. 

The stock had declined on Monday after a global brokerage reviewed Vodafone Idea’s new international roaming proposition covering prepaid, postpaid and enterprise customers. The company has made international roaming a standard free benefit, with postpaid plans starting at Rs 501, annual prepaid unlimited-data plans and corporate offerings starting at Rs 451. 

According to the brokerage, the offering could help Vi compete for premium customers against Bharti Airtel and Reliance Jio, while also encouraging existing prepaid subscribers to migrate to annual plans. Such a shift could potentially reduce churn and ease working-capital requirements, it said. 

The brokerage maintained a ‘Neutral’ rating on the stock, pointing to Vodafone Idea’s valuation premium relative to Bharti Airtel and its stretched cash-flow position. It expects the company’s EBITDA to expand at a slightly faster 15% CAGR, albeit from a lower base, as operating metrics improve. 

The brokerage said the latest strategy appears primarily focused on subscriber acquisition and retention, even if it results in some pressure on average revenue per user (ARPU). It also noted that international roaming currently contributes only a small portion of telecom industry revenues, suggesting limited scope for the offering to materially influence Vodafone Idea’s near-term revenue. 

PC Jeweller Limited (up 2.19%) 

PC Jeweller shares snapped a losing streak on Wednesday. The jewellery retailer had said on Friday that it had become completely debt-free after clearing its outstanding dues to all 14 consortium banks ahead of their scheduled repayment dates. The stock has gained 45% so far in 2026. 

PC Jeweller 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. 

The company said completing the repayments would materially strengthen its balance sheet and overall financial position. The debt reduction also comes as the company has reported an improvement in its operating performance. 

PC Jeweller reported a consolidated net profit of Rs 221.88 crore for the June quarter, a 37% increase from the year-ago period. Revenue from operations rose 21% year-on-year to Rs 877 crore, while operating profit after tax, excluding other income, climbed sharply to Rs 213 crore from Rs 79 crore a year earlier. 

Despite the gains recorded over the longer term, the stock has remained volatile in recent sessions. It has declined 6.7% over the past week but is up 23% in the last month. Over a three-year period, the stock has gained around 400%, while its five-year return stands at a similar level. 

Hero Motors Limited (up 10.00%)  

Hero Motors shares hit 10% upper circuit on Wednesday, extending their sharp post-listing rally and taking the newly listed stock 81.6% above its IPO price of Rs 84. The stock has seen heightened investor interest since its weak market debut, with its recent gains driven by strong buying momentum and optimism around its automotive technology and powertrain business. On Monday the stock saw a bulk deal. 

Syncom Formulations (India) Limited (down 4.32%) 

Syncom Formulations (India) shares fell on Wednesday after gaining in the previous two sessions, following the company’s disclosure over the weekend that its promoters and promoter group had voluntarily waived their entitlement to the proposed final dividend for FY26. 

The promoters and promoter group hold 47.53 crore shares in Syncom Formulations. By foregoing the proposed Rs 0.10 per-share dividend on their holdings, they would help reduce the company’s dividend payout by around Rs 4.75 crore, subject to shareholder approval. 

Syncom Formulations has recommended a final dividend of Rs 0.10 per equity share of face value Rs 1 for the financial year ended March 31, 2026. With around 94 crore shares outstanding, the total proposed dividend payout stands at about Rs 9.40 crore. 

After accounting for the promoters’ waiver, the company’s dividend liability would decline to approximately Rs 4.65 crore if shareholders approve the proposed payout at the annual general meeting. 

The company said it had received written and unconditional declarations from shareholders belonging to the promoter and promoter group categories, confirming that they would forgo the dividend payable on their respective holdings. According to Syncom Formulations, the waiver was voluntary and unconditional and did not involve any consideration, compensation or other benefit from the company. 

The disclosure comes ahead of the company’s annual general meeting, at which shareholders will consider and approve the proposed final dividend for FY26. 

Source

• NSE