DATE17 Aug
NIFTY 24,288 ▼ 0.32%BANK NIFTY 57,498 ▲ 0.01%NIFTY IT 30,808 ▼ 1.75%NIFTY PHARMA 26,342 ▼ 0.39%SCHNEIDER 1,212 ▼ 11.47%IPCALAB 1,885 ▲ 8.67%HINDCOPPER 573 ▲ 8.24%PTCIL 20,584 ▲ 8.05%BELRISE 236 ▼ 7.54%GPIL 251 ▲ 6.54%NSLNISP 42 ▼ 6.16%INOXWIND 78 ▲ 6.05%FINCABLES 1,321 ▲ 5.93%MOTILALOFS 955 ▲ 5.68%NIFTY 24,288 ▼ 0.32%BANK NIFTY 57,498 ▲ 0.01%NIFTY IT 30,808 ▼ 1.75%NIFTY PHARMA 26,342 ▼ 0.39%SCHNEIDER 1,212 ▼ 11.47%IPCALAB 1,885 ▲ 8.67%HINDCOPPER 573 ▲ 8.24%PTCIL 20,584 ▲ 8.05%BELRISE 236 ▼ 7.54%GPIL 251 ▲ 6.54%NSLNISP 42 ▼ 6.16%INOXWIND 78 ▲ 6.05%FINCABLES 1,321 ▲ 5.93%MOTILALOFS 955 ▲ 5.68%
Morning brief · Wednesday, 19 August 2026

Zaggle’s 60% fall puts management’s maturity under the scanner

Market pulse
A sharp sell-off in technology stocks pulled the broader market lower, though the damage was contained by resilient banks which ended the day flat. The NIFTY shed a third of a percent to close at 24,288, weighed down by a nearly 1.8 percent drop in the IT index, while standout individual gains from names like Ipca Labs and Hindcopper were not enough to turn the tide.
Word in the street
What the wider market is buzzing about
Zaggle Prepaid Ocean Services Limited
₹166Past year ▼ 59%M.cap ₹2,230 Cr
Zaggle Prepaid Ocean Services has been a topic of lively debate this week, even as its stock has fallen nearly 60 percent over the last year. The company, with a market capitalisation of about 2,230 crore, has drawn criticism for its handling of investor relations and communications. Some observers feel the management has repeatedly demonstrated a lack of maturity in this area, compounding its problems. Others are looking past the noise, focusing instead on the company's core business mechanics. One area of interest is the significant portion of its program fees, around 66 to 67 percent, that is paid out as incentives and cashbacks to customers.
Know more about the stock
Yesterday's big moves
One 97 Communications Limited
One 97 Communications LimitedNew Position
₹1,546Past year ▲ 32%M.cap ₹99,177 Cr
Societe Generale
Societe Generale bought 2,840,000 shares of One 97 Communications for ₹435.97 Cr at ₹1535.10 apiece in a block deal. This transaction occurred on the same day Resilient Asset Management B.V., an entity associated with Paytm founder Vijay Shekhar Sharma, proposed to sell up to 4.98% of its stake in the company via a block trade.
Encompass Design
Encompass DesignIncreased
M.cap ₹346 Cr
Radiant Global
Radiant Global bought 1,74,000 shares of Encompass Design for ₹4.04 Cr at ₹232.00 apiece in a bulk deal.
Tenneco Clean Air India Limited
Tenneco Clean Air India LimitedIncreased
₹548Past year ▲ 12%M.cap ₹22,204 Cr
SBI Mutual Fund
SBI Mutual Fund increased its stake in Tenneco Clean Air India from 0.89% to 6.11%, buying 2,10,63,692 shares in the open market for ₹115.91 crore at ₹550.30 per share, crossing the 5% disclosure threshold.
Dr. Agarwal's Health Care Limited
Dr. Agarwal's Health Care LimitedIncreased
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Invesco Mutual Fund
Invesco Mutual Fund increased its stake in Dr. Agarwal's Health Care from 3.02% to 5.21% by buying 69,38,186 shares via an open market purchase, crossing the 5% disclosure threshold.
Fiem Industries Limited
Fiem Industries LimitedIncreased
₹2,219Past year ▲ 14%M.cap ₹5,842 Cr
HDFC Mutual Fund
HDFC Mutual Fund bought 6,21,878 shares of Fiem Industries in an open-market transaction, increasing its stake from 7.07% to 9.43%.
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Zaggle’s 60% fall puts management’s maturity under the scanner · WhaleWatch