Top Gainers & Losers on February 1: Zomato leads with 7% jump, Power Grid drops 4% post-Budget

The Indian stock market witnessed mixed reactions post the Union Budget 2025-26 announcement, with the BSE Sensex closing marginally lower at 77,505.96 and the NSE Nifty settling at 23,482.15. While auto and FMCG stocks surged on expectations of increased consumption, infrastructure and energy stocks saw declines.

Top Gainers

Zomato Ltd. emerged as the top gainer, rallying 7.17 per cent to close at Rs 236.15, buoyed by strong sentiment in the consumption sector post the Budget’s income tax relief measures. The government's move to increase disposable income is expected to boost demand in the food delivery space.

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Maruti Suzuki India Ltd. followed with a 4.98 per cent gain, ending at Rs 12,921.20. The auto sector saw significant buying interest as tax exemptions and policy support for electric vehicles encouraged investors.

Indian Hotels Company Ltd. (ITC Hotels) recorded a 4.71 per cent rise, closing at Rs 172.40. The hospitality sector gained momentum on expectations of increased discretionary spending.

ITC Ltd. saw its shares climb 3.33 per cent to Rs 462.45, reflecting optimism in the FMCG segment, driven by anticipated higher consumer spending.

Mahindra & Mahindra Ltd. (M&M) rounded off the top gainers, rising 2.96 per cent to Rs 3,080.15, as investors bet on stronger rural demand and policy incentives for the automobile industry.

Top Losers

Power Grid Corporation of India Ltd. was the biggest laggard, declining 3.71 per cent to Rs 290.65. Investors booked profits in power stocks, anticipating increased infrastructure spending but with potential policy risks.

Larsen & Toubro Ltd. (L&T) fell 3.36 per cent to Rs 3,447.30, weighed down by concerns over execution challenges despite continued government focus on infrastructure projects.

NTPC Ltd. slipped 2.04 per cent to Rs 317.65 as power sector stocks witnessed selling pressure amid valuation concerns.

UltraTech Cement Ltd. saw a 2.03 per cent dip to Rs 11,269.85, as rising input costs and market volatility impacted sentiment in the cement industry.

HCL Technologies Ltd. declined 1.87 per cent to Rs 1,693.00, as IT stocks remained under pressure due to global macroeconomic concerns.

While auto and FMCG stocks surged, infrastructure and power stocks faced headwinds as investors weighed Budget-driven opportunities against execution risks.