Nalco, Suzlon Energy, YES Bank, VIL, Zomato, IGL, JP Power shares lead NSE volumes

Vodafone Idea Ltd (VIL), Suzlon Energy Ltd, Nalco, Indraprastha Gas Ltd, Zomato Ltd, YES Bank, JP Power and Ola Electric Mobility Ltd are among stocks that saw huge volumes on NSE in Monday's trade. HDFC Bank, Tata Consultancy Services Ltd (TCS), Reliance Industries Ltd (RIL), Tata Motors and Swiggy are some of the stocks that were leading the NSE turnover chart, data available on active NSE stocks suggested.

Vodafone Idea shares fell 0.54  per cent to Rs 7.30 on NSE, as 25,55,33,452 shares worth Rs 188 crore changed hands. VIL lost higher than expected subscribers in Q2, despite the largest 4G network expansion. VIL expects to reverse the trend by growing subs base from end-FY25. It has been in discussion with government for waiver on bank guarantees and intervention in AGR matter. 

"VIL is also on track for debt funding. It expects cash shortfall towards government dues to be converted into equity. Cut Ebitda by 2-6 per cent over FY25-27E, and target price to Rs 7 (from Rs 11) with unchanged FY27E EV/Ebitda multiple of 13 times," ICICI Securities said.

Suzlon Energy shares climbed 3.90 per cent to Rs 58.94 apiece, as 8,21,40,303 shares worth Rs 493 crore changing hands. 

AR Ramachandran, an independent Sebi registered analyst said, "Suzlon Energy is bearish but also slightly oversold on the daily charts with next support at Rs 53.06. Traders should buy only if daily close is above resistance of Rs 59.30 for a target of Rs 69 in the near term."

Shares of Nalco soared 11.76 per cent to Rs 245.73, as 6,65,86,767 shares worth Rs 1,592 crore changed hands. The stock gained amid a steep rise in aluminium prices after China's finance ministry proposed to reduce or cancel export tax rebates for aluminium effective December 1.

IGL tumbled 18 per cent to Rs 332.40 as 3,80,91,465 shares worth Rs 1,274 crore changed hands. This stock declined as the PSU is seen taking a big hit, following the cut in APM gas allocation, as its share of priority sector volumes is high. IGL also has relatively lower base margins than MGL. 

It was followed by Zomato, which saw 3,37,88,606 shares changing hands. YES Bank shares advanced 0.47 per cent to Rs 19.40 as 3,08,61,550 shares changed hands. JP Power, Ola Electric, Tata Steel, IDFC First Bank, Punjab National Bank, Reliance Power, Tata Motors and SAIL were some of the stocks that saw high NSE volumes.

On the turnover side, Nalco led the chart. It was followed by HDFC Bank, which witnessed Rs 1,332 crore in turnover. IGL, TCS, Zomato, RIL, Tata Motors, Swiggy and BSE were some other stocks leading the turnover chart on NSE.