Why These Stocks Are Rising and Falling Today: TECHM, WELCORP & PFOCUS Gain; CCL, LTF, & PERSISTENT Decline

Indian equity markets opened on a subdued note on Friday, October 16, with the Nifty 50 trading at 22,955, down 0.18% in early trade. The slight decline followed Thursday’s strong rally, as investors booked profits at higher levels. Benchmarks dragged down as some heavyweight stocks witnessed selling pressure. Elevated crude oil prices and continued foreign fund outflows kept the market sentiment cautious. At the same time, SEBI’s recent update to the Closing Auction Session (CAS) framework was in the spotlight, with the proposed changes aimed at strengthening price discovery and improving transparency during the closing session.

On the institutional front, foreign institutional investors (FIIs) were net sellers, offloading equities worth around ₹5,285 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth around ₹3,319 crore, providing some support to the market. Stock-specific activity continued to be in focus with Reliance Industries, Wipro, Jio Financial Services, Tech Mahindra and HDFC Life under the scanner amid quarterly earnings, corporate announcements and other business developments.

Amidst this backdrop, here are the top gainers and losers in the Nifty 500 index.

Top Gainers for October 16: TECHM, WELCORP & PFOCUS Gain Up to 4.9%

Tech Mahindra Ltd Price Jumps 4.9%

Tech Mahindra Ltd is among the top gainers in the Nifty 500 today and is trading at ₹1,731.50 at 9:30 am, gaining 4.9% from its previous close on NSE, following its better-than-expected Q2 FY27 revenue and strong deal wins. The company reported a 15.6% year-on-year increase in revenue to ₹16,180 crore, while net profit rose 32.7% to ₹1,586 crore. Its EBIT margin improved to 14.8%, while new deal wins reached $1.02 billion, up 25.4% year-on-year. The announcement of a 1:1 bonus issue and an interim dividend of ₹15 per share further supported investor sentiment.

Trading volumes stood at 63.1 lakh shares, compared with the 30-day average volume of 24.4 lakh shares.

Welspun Corp Ltd Share Price Rises Over 4.3%

Welspun Corp Ltd is witnessing strong buying interest, with the stock gaining 4.3% to ₹2,595.00 on Friday, October 16, at 9.30 am, amid positive brokerage commentary and expectations of stronger earnings in Q2 FY27. Global brokerage Jefferies identified the company among its preferred metal-sector picks, citing a multi-year investment cycle in oil and gas infrastructure across the US and Middle East. The brokerage expects Welspun Corp’s EBITDA to grow 19% year-on-year despite an anticipated decline in domestic pipe sales. The company’s strong global order book, supported by demand for energy pipelines, has also contributed to the positive outlook.

Trading volumes stood at 5.8 lakh shares, compared with the 30-day average volume of 19.4 lakh shares.

Prime Focus Ltd Company gains 3.5%

At 9:30 am, the Prime Focus Ltd share price was trading at ₹287.35, up by 3.5% from its previous close on the NSE, following a corporate announcement regarding proposed investments in its artificial intelligence subsidiaries, Brahma AI Holdings Limited and Brahma AI Services India Limited. The development brought renewed attention to Prime Focus’s AI business and its potential growth opportunities. However, the extent to which this announcement contributed to today's share price movement has not been independently confirmed.

Trading volumes stood at 15.6 lakh shares, compared with the 30-day average volume of 7.6 lakh shares.

Top Losers for October 16: CCL, LTF, & PERSISTENT Fall Up to 6.5%

CCL Products (India) Ltd Share Price Falls 6.5%

CCL Products (India) Ltd share price was trading at ₹1,014.30 down 6.5% from its previous close on the NSE at 9.30 am, despite reporting improved Q2 FY27 earnings. The company posted consolidated revenue of ₹1,210.76 crore, up 7.4% YoY, while PAT increased 29% to ₹130.11 crore. The company also announced the resignation of Company Secretary and Compliance Officer Sridevi Dasari, effective November 14, 2026, with Kallepally Bharath Kumar appointed as her successor from November 15.

Trading volumes stood at 3.2 lakh shares, compared with the 30-day average volume of 1.4 lakh shares.

L&T Finance Ltd Share Price Declines 5.6%

L&T Finance Ltd. shares saw selling pressure on Friday, October 16 with the stock trading at ₹247.20 around 9:30 am, dropping 5.6% during morning trade, despite reporting healthy Q2 FY27 earnings. The company posted a 32.4% YoY rise in consolidated net profit to ₹972.76 crore, while total income increased 26.5% to ₹5,484.23 crore. Its loan book expanded by approximately 28%, supported by strong retail lending growth. However, impairment charges increased 24.4% year-on-year to ₹628.69 crore, raising concerns over credit costs and asset quality as the lending portfolio expands.

Trading volumes stood at 1.02 crore shares, compared with the 30-day average volume of 58.2 lakh shares.

Persistent Systems Ltd Share Price Drops 4.4%

Persistent Systems Ltd share faced selling pressure on Friday, October 16, and was trading at ₹5,579.50, down 4.4% from its previous close on the NSE, after its Q2 FY27 net profit fell 25.4% year-on-year to ₹351.51 crore, largely due to a one-time expense linked to the Nagarro acquisition. Despite revenue rising 30.3% to ₹4,663.90 crore, operating margin narrowed to 15% from 16.3% a year earlier. The decline in reported profitability and margin pressure may have weighed on investor sentiment.

Trading volumes stood at 11.6 lakh shares, compared with the 30-day average volume of 5.3 lakh shares.