Get the full story behind July 23’s top market movers — from Lodha’s profit-booking zone to Eternal’s Blinkit-driven breakout and Vodafone Idea’s funding buzz.
On July 23, 2025, market activity on the NSE was dominated by Lodha Developers, Jaiprakash Power Ventures, Vodafone Idea, Eternal (Zomato), and PC Jeweller — all logging heavy volumes with diverse triggers ranging from Blinkit-led earnings surprises to corporate fundraises.
| Symbol | LTP (Rs) | per cent Change | Volume (Shares) | Turnover (Rs Cr) |
| LODHA | 1,371.50 | –4.91 per cent | 1,17,76,956 | 1,630.5 |
| JPPOWER | 21.57 | +0.70 per cent | 40,83,118 | 8.87 |
| IDEA | 7.42 | +0.68 per cent | 36,23,274 | 2.69 |
| ETERNAL | 300.25 | +0.15 per cent | 26,64,741 | 79.69 |
| PCJEWELLER | 15.29 | +0.86 per cent | 24,05,375 | 3.68 |
Market Overview
Indian benchmarks closed mixed on July 23, with the Sensex flat at 82,186 and Nifty dipping ~0.1 per cent to 25,060. While financials and PSUs extended strength post-earnings, selling pressure in IT heavyweights and Reliance Industries capped gains. Notably, traders are watching earnings cues and global macro updates, especially after the RBI’s 50 bps rate cut in June that has supported interest-sensitive sectors like real estate.
1. Lodha Developers (LODHA, ★★★)
Testing Technical Support | High Volumes | Profit Booking in Play
Lodha topped volumes with over 1.17 crore shares traded. However, the stock slipped ~4.9 per cent to Rs 1,371.50 as traders booked profits after a sharp June rally. The stock is now testing a key “head-and-shoulders” support zone near Rs 1,365 — a technical level closely tracked by market participants.
Recent updates include a final dividend of Rs 10 per share and a positive debt repayment update. Despite its strong Q4 presales and robust operational metrics, rich valuations (~52× trailing P/E) and rising rate risks have prompted some caution.
2. Jaiprakash Power Ventures (JPPOWER, ★★★)
Q4 Earnings Strong | M&A Buzz Lingers
JP Power ticked up ~0.7 per cent to Rs 21.57 on the back of strong Q4 results and ongoing speculation about a possible takeover. The company posted ~Rs 860 crore profit in Q4, broadly matching expectations.
Recent highs were triggered by reports of interest from larger utilities, though no official confirmation has emerged. The stock remains highly liquid, with turnover nearing Rs 9 crore, and analysts continue to track M&A developments.
3. Vodafone Idea (IDEA)
Funding Hopes Revive | Retail Interest Soars
Vodafone Idea saw its stock edge up ~0.7 per cent to Rs 7.42 amid fresh buzz around funding and a possible government bailout. Retail interest remains robust — over 1.17 lakh retail investors were added in Q1.
While the company remains loss-making and heavily indebted, investor sentiment appears buoyed by reports of a potential capital infusion. The stock had earlier spiked 3 per cent on June 27 on similar news. For now, the movement appears consolidative as bulls await confirmed developments.
4. Eternal (ETERNAL, ★★)
Blinkit Growth Lifts Stock | Revenue Soars 70 per cent YoY
Eternal (Zomato’s parent) remained in the spotlight after reporting a ~70 per cent YoY revenue surge in Q1 FY26, led by Blinkit’s outperformance. The stock briefly touched a record Rs 311.60 on July 22 before closing slightly higher at Rs 300.25 on July 23.
Blinkit’s GMV in Q1 reached Rs 3,105 crore — exceeding Zomato’s food delivery arm, which has prompted multiple brokerages to raise targets. However, net profit dipped due to rising delivery and operating costs. The valuation remains steep, at over 800 times the trailing P/E, and analysts warn of limited near-term upside from these levels.
5. PC Jeweller (PCJEWELLER, ★★★)
Debt Reduction Plan in Focus | Sharp Rally Sees Some Cooling
PC Jeweller stayed active, gaining ~0.86 per cent to Rs 15.29. The stock has surged nearly 3x in the last three months following its Rs 500 crore fundraising plan through warrants — aimed at repaying debt. Promoters are contributing Rs 175 crore in this round.
The rally has seen some pause lately as traders locked in profits. The stock had briefly touched a 3-year high of approximately Rs 19 earlier this month but has since eased. Long-term analysts remain split — some forecasting a further climb to Rs 25 if the turnaround plan delivers.
Key Themes Driving Activity
- Earnings Buzz: Eternal and JP Power posted strong Q1 and Q4 numbers, respectively, supporting momentum.
- Debt Reduction & Fundraising: PC Jeweller and Vodafone Idea drew attention due to capital-raising efforts.
- Technical Levels in Play: Lodha’s volume-heavy correction puts focus on key chart patterns.
- Sectoral Rotation: Realty, utilities, and select tech names are seeing churn ahead of earnings season.
Conclusion
The most active stocks on July 23 reflected a blend of profit-booking, earnings optimism, and speculative interest. While Lodha and Eternal show signs of near-term exhaustion following the rally, names like JP Power and PC Jeweller continue to benefit from positive sentiment surrounding business restructuring. Vodafone Idea remains a speculative play — one that hinges on the timing and scale of any financial support it receives.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and has been reviewed by human experts for accuracy and is intended for informational purposes only. Please take it with a grain of salt and conduct your own research or consult a financial advisor before making any investment decisions.
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