Top Gainers & Losers on Nov 03: Vodafone Idea, Gravita India, Bank of Baroda, Vedanta, Zen Tech among top gainers

Indian stocks began November on a flat note as both benchmark indices ended Monday's session with modest gains. The lack of fresh catalysts failed to reignite bullish optimism, while stock-specific action continued to dominate the Street amid ongoing Q2 earnings reactions.

Although the markets opened slightly in the red, they managed to close higher, with the Nifty 50 rising 0.16% to 25,763 and the S&P BSE Sensex edging up 0.05% to 83,976.

The broader markets, however, outperformed the benchmarks, with the Nifty Midcap 100 index climbing 0.77% and the Nifty Smallcap 100 advancing 0.72%, indicating that market breadth still favored the bulls.

Despite the market’s lack of momentum, PSU banking stocks continued to attract investors’ interest, driven by their healthy Q2 performance, pushing the Nifty PSU Bank index to a fresh peak of 8,373, up nearly 2%.

Vinod Nair, Head of Research, Geojit Investments Limited, said, "The domestic market ended on a marginal positive note as profit booking was visible at the higher levels due to the absence of fresh domestic triggers. While the broader market outperformed since the quarterly earnings are steering investors' preference to take a short- to medium-term view."

"The PSU Banking index continued to be a preferred bet for investors, led by healthy earnings and improving asset quality. In contrast, IT stocks declined amid fading expectations of a U.S. Fed rate cut, while a trade truce between the US and China eased the demand for safe haven assets," he further added.

Street favors strong Q2 show: Wockhardt, Gravita, and BoB lead gainers’ pack

Wockhardt shares closed over 10% higher at ₹1,413 apiece in response to its September quarter results. The company reported a net profit of ₹78 crore, compared to a net loss of ₹22 crore in the same quarter last year.

Vodafone Idea also came under the bull’s eye, surging 9.3% to ₹9.54 apiece after India’s top court said the government can consider relief on all of Vodafone Idea’s adjusted gross revenue (AGR) dues, CNBC-TV18 reported on Monday.

Likewise, Gravita India reacted positively to its September quarter performance, with the stock rising 8.4% to ₹1,806 apiece. The company reported a consolidated net profit of ₹96 crore for Q2 FY26, driven by improved operational efficiency and higher lead segment contribution.

State-owned Bank of Baroda gained 4.6% to ₹291 apiece after reporting better-than-expected September quarter results, supported by stronger NII growth, controlled operating expenses, and lower provisions.

Reacting to recent order wins, Zen Technologies climbed 4.13% to ₹1,413.20 apiece. The company announced on Sunday that it had secured two contracts worth ₹289 crore from the Ministry of Defence for upgrading its anti-drone systems (ADS).

Vedanta also traded higher, gaining 4% to ₹513 apiece, following its September quarter earnings. Post results, brokerage firms CLSA and Citi projected that the stock could rise to ₹600 levels in the near term.

Netweb Technologies, Maruti Suzuki are among worst hit

Among the top losers, Netweb Technologies led the pack with a 6% decline to ₹3,798 apiece, as investors appeared to book profits following a stellar rally. It was followed by Reliance Power, Zensar Technologies, Aptus Value Housing, JK Cement, and Reliance Infrastructure, which fell over 5% each.

Maruti Suzuki India was also among the major laggards, shedding 3.3% to Rs15,651 after global brokerage firm Jefferies downgraded the stock to a ‘Hold’ rating following its September quarter performance.

Blue Dart Express shares came under profit booking as well, falling 3.1% to ₹6,370 apiece after a strong post-results rally, while Adani Green Energy also slipped 3.1% to ₹1,105 amid similar profit-taking.

Other stocks such as Syrma SGS Technology, Global Health, Chennai Petroleum, Timken India, Premier Energies, Olectra Greentech, IDBI Bank, Swiggy, and Paytm also closed lower by 2–3%.

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