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Tata Teleservices Surges 7%, Physicswallah Drops 4% at Nifty 500 Open
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CNBC TV18•28-09-2026, 09:57
Tata Teleservices Surges 7%, Physicswallah Drops 4% at Nifty 500 Open
- •Tata Teleservices (Maharashtra) shares surged over 7% at market open, despite a significant year-to-date and year-on-year decline.
- •PB Fintech shares rose over 3% after Bernstein maintained an "Outperform" rating, following sharp declines due to IRDAI's draft guidelines.
- •Allied Blenders and Distillers saw shares rise over 2.5% as Nomura initiated coverage with a "Buy" rating, citing growth potential.
- •IFCI, Physicswallah, and Nuvama Wealth Management were among the top losers, with Physicswallah shares falling up to 4% at market open.
- •Brokerage calls from Nomura and Bernstein significantly influenced the movement of Allied Blenders and Distillers and PB Fintech, respectively.
Key Questions Answered
PB Fintech shares experienced a record sell-off following IRDAI's draft guidelines on distribution norms, dropping sharply on Thursday and Friday before rising over 3% at market open as Bernstein maintained an "Outperform" rating.
Allied Blenders and Distillers shares rose over 2.5% at market open after global brokerage Nomura initiated coverage with a "Buy" rating and a price target of ₹850. Nomura highlighted a shift to premium products, better supply chain control, and potential India-UK free trade agreement benefits.
At the Nifty 500 market open, IFCI shares fell over 4%, Physicswallah declined by up to 4%, and Nuvama Wealth Management slipped over 3.5% to rank among the day's top losers.
