India Stocks Slide as Oil Jumps, West Asia Tensions Escalate; These 7 stocks make waves The Indian equities was under pressure for a better part of the trading day Wednesday, with Nifty 50 was hovering around 23,850 and the Sensex was trading at 76,380 by afternoon trade as of September 2. Resurgence of crude oil prices and escalation in geopolitical tensions in West Asia hit investor sentiments. However, several stocks in the Indian equities witnessed sharp movements on account of company-specific news.
Coal India, Vodafone Idea, Hero MotoCorp, IndiGo, SpiceJet, Milky Mist and ice cream makers namely, Kwality Wall’s and Vadilal Industries were a few prominent names that gained or lost significantly through the day.
Coal India rises 4%; here’s why Coal India shares jumped nearly 4% in midday trade
The biggest gainer among the top 200 Nifty companies – on back of robust growth in its coal supplies during August. The company reported its supplies have grown 5.5% to 60.60 million tonnes (MT) in the month of August in FY27. Supplies to power sector logged an increase by 4.5% on a year-on-year basis and stood at 48.46 MT for the month. Supplies to the non-regulated sector witnessed an increase of 9.6% in August 2026 on a y-o-y basis, and stands at 12.12 MT.
For the period April-August 2026, its coal supplies grew 6.7% to 322.90 MT on a y-o-y basis.
The firm stated that it has liquidated nearly 55 MT of coal at pitheads. Further, its coal stock at pitheads is around 76 MT. Vodafone Idea shares rally 4.69% Vodafone Idea stocks climbed close to 5% by afternoon trades despite the broader market witnessing decline.
The telecom company recently re-branded and introduced Bollywood superstar Shah Rukh Khan as face of its upcoming campaign, a brand identity that is being rolled out to outlets, digital platforms and customer touch points. It had recently announced that it has secured ₹9,000 crore capex orders for 2026, according to its chairman Kumar Mangalam Birla at company’s annual general meeting. IndiGo, SpiceJet shares dip IndiGo’s parent InterGlobe Aviation fell near 3% and its rival SpiceJet share edged around 2% down, as Jet fuel or Aviation Turbine Fuel (ATF) prices rose again.
ATFs were revised upwards by 5.46% with effect from September 1st, 2026
Jet fuel prices stand at ₹121.28 per litre currently, a hike of ₹5 per litre in August, and now a cumulative ₹11.28 a litre over two months period. Fuel is one of the biggest cost elements for airlines, often accounting for 30-40 percent of operating costs. Brent crude oil prices also crossed the $95 per barrel mark on renewed U.S.-Iran tensions, fueling fears over global supply disruptions. Hero MotoCorp share dips 6.8%; check why Hero MotoCorp was another large cap firm that declined by nearly 7%.
The two wheeler manufacturer clocked 2.64% growth in total despatches in August to 5,68,398 vehicles from 5,53,892 vehicles recorded in the corresponding period of the previous year.
Motorcycle despatches fell 1.80% to 4,93,851 units. For the period, VAHAN registration was at 19% on yoy basis. But the stock’s decline in midday trades came due to investors’ disquiet regarding the firm’s month on month wholesale numbers.
Milky Mist Dairy Foods hits upper circuit Milky Mist shares rallied 10% to trade at its all-time high at the upper circuit on significant spurt in its net profit. The company posted close to tenfold jump in net profit for the quarter that ended June. Strong operational performance and a strong yoy revenue growth of 43.6%, along with a gain of 264 basis points in EBITDA margin led to robust buying interest in the stock.
Ice cream majors Kwality Wall’s, Vadilal Industries skid Reliance Consumer Products have forayed into the ice cream space with its ‘Bombay Creamery’ brand recently.
However, shares of existing players including Kwality Wall’s and Vadilal Industries edged lower on Wednesday with both stock falling by 3% and 3.07% respectively. The new product is now targeting to sell Bombay Creamery products in Western region and expand across India starting from ₹10.
What investors should watch out for It shows
Investors would keenly track individual company fundamentals and specific events amidst broader sluggish sentiments on stock markets. High crude price will continue to have implications for oil sensitive segments like aviation, paint and tyre manufacturers.
Strong operational performance is providing good buying opportunity in stocks like Coal India and Milky Mist.
Investors are to keep close watch on crude prices movements, global geopolitical events, sales data of other sectors, upcoming corporate result announcements and global markets trends. Disclaimer: These are not buy or sell recommendations from EquityPandit. Investors are advised to do their own due diligence or consult a registered financial adviser before investing.
