Trending Stocks Today: Vodafone Idea Retains Top-traded Crown on Funding Hopes as Ola Electric Revs Up on Crude Climb

Mumbai, May 19: Telecom and EV counters dominated trading activity on the NSE on Tuesday, with Vodafone Idea emerging as the most active stock by volume for at least the fifth straight day as investors cheered funding-related developments and ongoing turnaround efforts.

Ola Electric Mobility also witnessed heavy buying interest amid elevated crude oil prices and optimism ahead of earnings, while Fineotex Chemical extended its sharp rally after announcing a bonus issue. Jaiprakash Power Ventures, meanwhile, remained in focus amid developments linked to the insolvency proceedings of group firm Jaiprakash Associates and recent action involving its non-executive chairman.

Vodafone Idea (up 3.81%)

The company continued to be the most traded as shares rallied after the telecom operator said it was “deeply engaged” with an SBI-led consortium for a proposed ₹35,000-crore funding package, boosting investor optimism around its long-delayed network expansion and 5G rollout plans. CEO Abhijit Kishore said discussions with lenders, including public sector, private and foreign banks, were progressing rapidly following recent adjusted gross revenue (AGR) relief measures and promoter equity infusion plans. The rebound comes a day after Vodafone Idea shares declined as investors looked past the company’s proposed ₹4,730-crore capital infusion by the Aditya Birla Group and focused instead on weak operating performance. The telecom operator reported a consolidated net profit of ₹51,970 crore for the March quarter, largely due to a one-time accounting gain related to adjusted gross revenue (AGR) liabilities. However, revenue growth remained subdued at around 3% year-on-year, sparking concerns over its competitive position in the telecom market. Average revenue per user (ARPU) rose 8.3% to ₹190, while its combined 4G and 5G subscriber base climbed to 128.9 million. Despite the fresh funding support, investors remained wary of the company’s heavy debt burden and uncertain turnaround prospects, particularly as it continues to invest in network expansion and spectrum-related obligations.

Ola Electric Mobility (up 6.47%)

Shares rallied as oil prices stayed elevated ahead of the company’s earnings early next week, with the crude climb inspiring investors to pile into alternative mobility. To be sure, shares had slipped four days ago despite the company approving a ₹2,000-crore investment in its EV and battery cell subsidiaries, as investors remained concerned about intense competition in the electric two-wheeler market. In February, Ola Electric had said it expects operating costs to decline by as much as 50% over the coming quarters after reporting a narrower third-quarter loss, as the company sharpened its focus on achieving profitability. For the financial year ended March 31, 2026, its EV business generated revenue of around ₹4,717 crore, while the battery cell manufacturing division contributed nearly ₹73 crore. Once commanding close to half of India’s electric scooter market, Ola Electric has steadily ceded market share to established players such as Bajaj Auto and TVS Motor Company, which strengthened their distribution reach and introduced rival products, along with growing competition from Ather Energy.

Fineotex Chemical (up 11.17%)

Shares of Fineotex Chemical extended their rally after the speciality chemicals company announced a 4:1 bonus issue along with a final dividend of ₹0.05 per share, lifting investor sentiment. The gains also followed the company’s latest quarterly earnings. Standalone net sales for the March quarter declined 9.58% year-on-year to ₹97.60 crore, while net profit rose 8.72% to ₹21.14 crore. EBITDA, however, slipped 4.1% during the quarter. The stock’s sharp rise came despite investor concerns over higher borrowings and the impact of a one-time legal settlement payout.

Jaiprakash Power Ventures (up 0.10%)

Shares edged higher after declining in the previous session, even as the stock remained supported by strong momentum from a recent group-level development. The counter had rallied sharply in recent sessions amid optimism surrounding the insolvency proceedings of associate firm Jaiprakash Associates, after creditors voted in favour of Adani Enterprises’ resolution plan.

The decline yesterday had also come after Jaiprakash Power Ventures disclosed that its non-executive chairman Manoj Gaur had been arrested by the Enforcement Directorate under the Prevention of Money Laundering Act. The company clarified that the alleged offence pertains to Jaypee Infratech and Jaiprakash Associates, and is not linked to Jaiprakash Power Ventures.

Source: NSE