NEOGEN, SHANKESH JEWELLERS, KEI INDUSTRIES IN FOCUS

Neogen Chemicals shares declined 4% after the company launched its qualified institutional placement and fixed the floor price at Rs 2,189.73 per share. The company may offer a discount of up to 5% to QIP investors on the floor price. Shares of Shankesh Jewellers surged 12% after the company reported a strong performance for the first quarter. Standalone net profit doubled to Rs 43.2 crore from Rs 21.6 crore in the year-ago period, while revenue jumped 55.1% year-on-year to Rs 423.6 crore from Rs 273.2 crore. KEI Industries shares fell 3% after brokerage Jefferies retained its ‘Buy’ rating on the stock but lowered its target price to Rs 6,150 from Rs 6,920 per share. The brokerage noted that the stock has corrected 21% from its peak and is down 16% since the Q1FY27 results. On the sectoral front, IT was the only major index trading in positive territory, gaining 0.4%. All other sectoral indices remained under pressure. Metal, PSU banks, auto and consumer durables indices declined between 1% and 3%, while infrastructure, media, oil & gas and pharma indices fell around 0.5% each. The broader market also remained weak, with both the Nifty Midcap and Nifty Smallcap indices declining 1.4% each. Market breadth on the BSE was firmly negative, with 820 stocks advancing, 2,471 declining and 146 remaining unchanged.