Top Stocks Moving Midday: Infosys, Wipro, Newgen Software, Vodafone Idea, Muthoot Finance, Vishal Mega Mart.

The Indian stock market is experiencing a slow session ahead of the Independence Day holiday, with the Nifty and Sensex hovering around key support zones. However, some stocks are making significant moves, including Infosys, Wipro, Newgen Software, Vodafone Idea, Muthoot Finance, and Vishal Mega Mart. Infosys and Wipro are up due to partnerships and joint ventures, while Newgen Software is rebounding after a six-day decline. Vodafone Idea hit a 52-week low, and Muthoot Finance and Vishal Mega Mart hit 52-week highs due to strong quarterly performance and inclusion in the MSCI Global Standard Index.

The Indian stock market is experiencing a slow session ahead of the Independence Day holiday, with the Nifty and Sensex hovering around key support zones. However, some stocks are making significant moves. Infosys and Wipro are up due to partnerships and joint ventures, while Newgen Software is rebounding after a six-day decline. Vodafone Idea hit a 52-week low, and Muthoot Finance and Vishal Mega Mart hit 52-week highs due to strong quarterly performance and inclusion in the MSCI Global Standard Index.

Infosys and Wipro, both major players in the information technology sector, have seen significant gains. Infosys' share price is up about 2% after announcing a joint venture with Australia's Telstra, aimed at accelerating AI-led cloud and digital transformation [1]. Similarly, Wipro's share price has gained 2% following Infosys' positive news, indicating a spillover effect among IT sector stocks [1].

Newgen Software, another tech gainer, has seen its share price rally close to 7% after a six-day decline. The stock's rebound is a response to signs of recovery amid mixed long-term performance trends [1].

Vodafone Idea, a key telecom play, slipped to a fresh 52-week low in today’s session, with its share price hitting Rs 6.12 per share intra-day. The company recently acquired a 26% stake in Aditya Birla Renewables SPV 3, which is set up to operate a special purpose vehicle [1].

Muthoot Finance has seen a strong jump in intra-day trade, hitting a fresh 52-week high after Q1 results. The company's gold loan growth of 40% YoY, along with improving new customer additions, has driven its strong quarterly performance [1].

Vishal Mega Mart also hit a fresh 52-week high in trade today, up nearly 2%. The stock is set to be part of the MSCI Global Standard Index from August 26, which has likely contributed to its positive performance [1].

In addition to these market moves, the Employees’ Provident Fund Organisation (EPFO) is preparing to launch EPFO 3.0, a new digital platform. TCS, Infosys, and Wipro have been shortlisted for its development, indicating the significant role these companies play in the IT sector [2][3].

The Indian stock market is expected to remain volatile in the coming days, with key support zones holding steady and some stocks making notable moves. Investors should keep a close eye on these developments as the market approaches the Independence Day holiday.

References:
[1] https://www.financialexpress.com/market/stocks-making-biggest-midday-moves-vodafone-idea-muthoot-finance-vishal-mega-mart-infosys-wipro-newgen-software-3946391/
[2] https://www.freepressjournal.in/business/epfo-30-set-for-big-tech-upgrade-tcs-infosys-wipro-shortlisted-for-development
[3] https://www.timesbull.com/business/update-on-epfo-3-0-tcs-infosys-and-wipro-572047.html