Top Gainers & Losers on Nov 20: Jaiprakash Power, Radico Khaitan, Eicher Motors, TBO Tek among top gainers

The Indian stock market stayed firm for the second straight session on Thursday, November 20, with both benchmark indices closing with solid gains of over 0.50%. The rally was supported by heavyweight stocks, led by Reliance Industries and Hero MotoCorp, which surged on an improving earnings outlook.

In addition, global sentiment improved after Nvidia reported earnings and revenue that beat expectations, along with stronger-than-forecast sales guidance, helping ease investor worries about overheated AI valuations.

The Nifty 50 closed with a solid gain of 0.54% at 26,192, bringing the index within 0.32% of its all-time high of 26,277. The S&P BSE Sensex also inched closer to its record level of 85,978, ending just 0.40% below the milestone at 85,632, up 0.52% from the previous close.

The rebound in India Inc in Q2 has eased valuation concerns, while signs of improving domestic consumption have strengthened the outlook for the Indian stock market in the second half of FY26. These factors have also prompted global investment banks to revise their stance on India.

Global brokerage HSBC said India is well-positioned to attract renewed emerging-market inflows as investors look for alternative growth stories across Asia beyond artificial intelligence. Fiscal and monetary support is expected to drive a growth pickup in early 2026, the analysts added.

HSBC upgraded Indian equities to “overweight” from “neutral” in September, becoming one of the earliest major global brokerages to turn bullish on Asia’s third-largest economy.

Investor appetite widens beyond index heavyweights

Jaiprakash Power Ventures led the gainers’ list, surging 7% to ₹21.64 apiece and extending its two-day rally to 23%. The uptrend came after the Gautam Adani-led group received approval from the Committee of Creditors (CoC) of Jaiprakash Associates for its resolution offer.

Natco Pharma also remained higher for the second straight session, rising 4.7% to ₹869.3 apiece, while Netweb Technologies extended its bull run with a 4.6% gain to ₹3,439 apiece.

Supported by a sharp jump in volumes, Radico Khaitan closed 4.3% higher at ₹3,368 apiece, while Indian Energy Exchange also saw strong buying interest, rallying 4.4% to ₹143 apiece.

Among other notable movers, TBO Tek, eClerx Services, Eris Lifesciences, Hitachi Energy India, Eicher Motors, Welspun Living, Bajaj Finance, Waaree Energies, Bajaj Finserv, and Hero MotoCorp advanced between 2% and 4%.

Reliance Infra, Vodafone Idea, Biocon and Hyundai Motor India among the worst hit

Among the top losers, Reliance Infrastructure fell 5% to ₹170.53 as the stock resumed its losing streak and remained on track to post losses for the fifth straight month. Similarly, the sell-off in Vodafone Idea continued for the fourth consecutive session, with the stock slipping 5% to ₹10.17 apiece.

Biocon shed 4%, settling at ₹395 after Citi double-downgraded the stock to ‘Sell’ from its earlier ‘Buy’ rating, citing stretched valuations. Hyundai Motor India also declined 3.46% to ₹2,337, extending its correction to 19% from its recent high.

After a sustained rally, City Union Bank witnessed profit booking, dragging the stock down 3.25% to ₹265.45. Among other PSU lenders, UCO Bank, Bank of Maharashtra, IDBI Bank, Bank of Baroda, Canara Bank, and Karur Vysya Bank also slipped over 2%.

Other notable losers such as JM Financial, Anand Rathi Wealth, IIFL Finance, Delhivery, Aurobindo Pharma, Usha Martin, India Cements, Finolex Industries, and Engineers India also ended the session with losses between 2% and 2.5%.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.