The Indian stock market staged a strong rebound on Thursday, December 11, 2025, with trading action concentrated in a clutch of high‑beta telecom, internet, banking and specialty manufacturing names. By early afternoon, the Nifty 50 was hovering around 25,900 and the Sensex near 84,800 , with all major sectors in the green as bargain-hunters stepped in after recent weakness. [1]
At the stock level, Kaynes Technology, InterGlobe Aviation (IndiGo), BSE Ltd, Vodafone Idea, HDFC Bank, Hindustan Zinc, DCM Shriram, Samvardhana Motherson, Eternal (Zomato), Meesho and Ola Electric were among the most active counters by traded value and volume on the NSE and BSE through the session. [2]
Below is a structured look at what moved these stocks today, what analysts are saying right now, and what this activity signals for traders and investors.
Market snapshot: rebound on Fed cut, AMFI inflows and bargain hunting
After three straight sessions of pressure, Indian benchmarks rebounded sharply from the day’s lows , with the Sensex climbing roughly 750 points from its intraday low and the Nifty rallying more than 220 points , helped by broad‑based buying in private banks, autos and realty. [3]
Key drivers behind today’s recovery:
- Strong domestic mutual fund flows:
AMFI data for November showed net equity inflows of nearly ₹30,000 crore , significantly higher than October and pushing mutual fund AUM to new highs. This domestic renewed buying support helped absorb foreign outflows and underpinned today’s bounce. [4] - US Fed rate cut and softer tone:
The US Federal Reserve delivered another 25 bps rate cut overnight with a relatively measured outlook, easing global risk sentiment and boosting appetite for emerging-market equities such as India. [5] - Bargain hunting and short covering:
Market strategists noted that several quality names had been “hammered” over the last two weeks, prompting value buying and short covering once indices found support near the 25,800–25,850 Nifty zone. [6]
At the same time, Emkay Global cautioned that near‑term volatility is likely to remain “extreme”, citing pressure from US tariffs, rupee weakness, and a widening current account deficit. It flagged elevated valuations with the Nifty trading at about 20x one-year forward earnings , and recommended gradually tilting portfolios towards defensives such as IT, pharma and large private banks while trimming expensive small- and mid-caps. [7]
Most active stocks by value: where the big money traded
Intraday data from NSE and market trackers shows the following high‑turnover names by traded value on December 11 (mid‑session snapshot): [8]
- Kaynes Technology India (Kaynes Tech) – EMS/ESDM manufacturer
- InterGlobe Aviation (IndiGo) – India’s largest airline
- BSE Ltd – stock exchange operator
- Dixon Technologies – electronics manufacturing
- Vodafone Idea – telecom
- HDFC Bank & Kotak Mahindra Bank – large private banks
- Hindustan Zinc – metals
- DCM Shriram – chemicals & agri‑inputs
- Meesho – recently listed e‑commerce platform
- Samvardhana Motherson International (SAMIL) – auto components
These counters saw elevated rupee turnover , reflecting a mix of institutional flows (in private banks and large caps), and high-conviction trading and speculative interest in recently volatile midcaps and new-age listings.
Most active stocks by volume: retail favorites dominate
On the volume side, NSE “top by volume” data highlights a familiar set of high‑beta, retail‑heavy names leading the activity charts. [9]
Notable high‑volume movers include:
- Vodafone Idea
- Ola Electric Mobility
- Reliance Power
- Suzlon Energy
- Yes Bank
- Hindustan Construction Company (HCC)
- Tata Steel
- Samvardhana Motherson International (SAMIL)
- Jaiprakash Power Ventures
- Hindustan Zinc
- South Indian Bank, Canara Bank, Bank of Baroda, PNB
- Eternal (Zomato), Swiggy, Meesho
- HDFC Bank, ICICI Bank, SBI
This blend of turnaround stories, PSU banks, infra plays and internet platform stocks underscores strong retail and F&O participation alongside institutional trading in large banks and index heavyweights.
Stock‑wise deep dive: news and forecasts driving today’s most active names
1. Vodafone Idea: near 52‑week high, ARPU and AGR relief in focus
Why it’s active:
Vodafone Idea is among the top‑traded stocks by both volume and value , with intraday volumes in the hundreds of millions of shares as it hovers just below its 52‑week high around ₹11 . [10]
Latest news & broker commentary (Dec 10–11):
- Business Standard notes the stock has gained around 8% in two sessions , rebounding 81% from its 52-week low of ₹6.12, and is trading near its 52-week peak of ₹11.08. [11]
- JM Financial expects India’s telcos’ ARPU to grow ~ 12% CAGR over FY25–28, supported by tariff hikes and premiumisation, with potential 14–18% EBITDA CAGR for the sector. [12]
- JM maintains an “ADD” rating on Vodafone Idea with a revised target of ₹11.5 , baking in some relief on AGR due following a favorable Supreme Court judgment allowing the government to reassess legacy levies. [13]
- Consensus data from global platforms shows a “Neutral” stance overall, with an average 12‑month target price clustered below or around the current market price and a wide range between bullish and bearish estimates. [14]
Big picture:
The bull case leans on:
- ARPU tailwinds from tariff hikes and “pay as you use” re‑pricing,
- Possible AGR and spectrum relief improving the balance sheet,
- A consolidated three‑player market boosting pricing power. [15]
The risk side : massive leverage, dependence on equity/dilution, and the need for sustained tariff hikes and subscriber retention. At current levels near its 52‑week high, a lot of optimism about policy support and ARPU growth is undoubtedly reflected in the price.
2. Kaynes Technology: high‑beta rebound with aggressive upside targets
Why it’s active:
Kaynes Technology is the single largest contributor to traded value on NSE today, with turnover above ₹4,000 crore , as the stock rebounds after a brutal correction. [16]
What changed today?
- The stock rallied over 6% intraday to around ₹4,100 , clawing back part of a roughly 40% one‑month slide triggered by concerns raised over related‑party disclosures. [17]
- ICICI Direct has reiterated a “BUY” rating, calling the issues primarily disclosure‑related rather than fraudulent , and sees no material financial impact , although it stresses the need for better transparency to sustain multiple valuations. [18]
- ICICI Direct’s revised target price of ₹6,400 implies an upside of more than 60% from recent closes, while Prabhudas Lilladher and Macquarie also maintain bullish targets in the ₹5,600–₹7,700 range even after trimming earnings estimates. [19]
Analyst view:
Brokerages broadly continue to frame Kaynes as a “structural growth story” in India’s ESDM/EMS manufacturing theme , citing:
- Aggressive capacity expansion and backward integration,
- Higher value‑addition and international expansion,
- Positioning as a key beneficiary of China+1 manufacturing shifts. [20]
However, they also warn that governance and disclosure concerns can cap valuation multiples unless the company rebuilds investor trust. For traders, that combination of strong fundamentals and still‑fragile sentiment is exactly what makes the stock hyper‑active intraday .
3. HDFC Bank: heavy value turnover near 52‑week highs
Why it’s active:
HDFC Bank remains one of the most actively traded large‑caps by value , with strong liquidity on both the NSE and BSE as it trades close to its 52‑week high . [21]
Current setup:
- Market analytics platforms highlight robust trading volumes , significant institutional participation, and price action holding above key moving averages, even as the stock consolidates near the upper end of its ₹810–₹1,020 52‑week range. [22]
- The bank’s large Nifty and Sensex weight , deep options market and high daily value turnover keep it front and center for FII flows, hedge trades and index-linked strategies. [23]
Analyst tone:
Research commentary remains generally constructive on loan growth, asset quality and profitability , but at current levels, upside in the near term is seen as more earnings‑driven than re‑rating‑driven . Tools like MarketsMojo also flag that while the stock enjoys strong liquidity and fundamentals, investors should be mindful that it’s trading close to its yearly highs after a steady run‑up. [24]
4. InterGlobe Aviation (IndiGo): high turnover amid regulatory overhang
Why it’s active:
InterGlobe Aviation (IndiGo) is another top‑turnover stock today as traders digest a sharp correction and fresh research commentary. [25]
Recent developments:
- IndiGo has lost around 17% of its value in about eight trading days , hit by mass flight cancellations triggered by revised pilot duty norms and subsequent regulatory scrutiny. [26]
- The government has signaled that penalties are likely if the airline’s explanation for the disruption is found wanting, keeping a regulatory cloud over the stock. [27]
- A recent JP Morgan warned that forex volatility and higher jet fuel prices could pressure earnings even as domestic passenger demand remains strong, and its FY26–28 EPS estimates sit notably below street consensus. [28]
Broker stance:
Despite the turmoil, several brokerages still argue the long‑term story is intact , pointing to IndiGo’s dominant 65%+ domestic market share and structural demand for air travel in India. However, near‑term risk‑reward is more finely balanced, with the stock caught between:
- Strong fundamentals and market share , and
- Margin headwinds, regulatory risk and sentiment damage . [29]
The result: elevated value turnover as both bargain hunters and nervous holders reposition.
5. Eternal (Zomato): ESG upgrade and sustained high volumes
Why it’s active:
Eternal Ltd, the parent of Zomato and Blinkit, is among the most traded internet platform stocks today , with daily volumes well into eight figures and a price gain of around 2–3% intraday. [30]
Fresh triggers:
- NSE Sustainability Ratings & Analytics has assigned Eternal an ESG score of 77 , placing it in a “Leader” category and sparking renewed institutional interest in the name. [31]
- Price data shows the stock trading around ₹290–₹295 , with strong volume after a choppy few weeks post‑results. Over the last several months Eternal has delivered sizeable gains, but with considerable day‑to‑day volatility and lofty valuation multiples. [32]
- Prior research from global brokerages has highlighted Blinkit’s quick‑commerce growth as a key driver of top‑line expansion, even as near‑term profitability remains under pressure due to higher delivery and rider costs. [33]
Takeaways:
Eternal is increasingly becoming an institutional ESG and growth-momentum play :
- Pros: category leadership in food delivery and quick commerce, strong revenue growth, improving ecosystem economics.
- Cons: very high valuation multiples, margin volatility, and sensitivity to regulatory and competitive changes in the gig‑economy space.
That mix keeps the stock a staple on most‑active lists , as traders respond to every incremental data point.
6. Hindustan Zinc: fresh ‘Buy’ calls and upside room
Why it’s active:
Hindustan Zinc appears simultaneously in high‑value and high‑volume lists, helped by a ~4% move today and a roughly 9% gain over the last three sessions. [34]
Brokerage view (Dec 11):
- A Business Today compilation of new analyst initiations highlights Hindustan Zinc with a “Buy” rating from B&K Securities and a target of ₹610 , implying about 20% upside from current levels. [35]
- The brokerage underscores Hindustan Zinc as India’s only integrated zinc producer and one of the world’s largest, with meaningful silver exposure that benefits from industrial and clean‑energy demand . [36]
With zinc and silver seen as leveraged plays on infrastructure and renewables , the stock is attractive to both thematic investors and short-term traders.
7. DCM Shriram & midcap volume spikes
A Business Standard report flagged DCM Shriram as the most active midcap by volume today, with an 81x surge over its recent average and an intraday gain of around 5–6% . [37]
Key points:
- Volumes jumped to nearly 4.8 million shares versus a two-week average closer to 60,000 , driven by news of a MoU with Bayer CropScience to collaborate on agri-innovation and sustainable farming solutions. [38]
- The company recently reported a 2.5x jump in consolidated profit and double-digit revenue growth in Q2, reinforcing the fundamental backdrop behind today’s surge. [39]
The same article also noted Neogen Chemicals, G‑Tec Janix Education, Aion‑Tech Solutions and Bartronics India as names with 1,000%+ spikes in volume , highlighting how quickly liquidity is rotating into niche midcaps when catalysts appear. [40]
8. Samvardhana Motherson (SAMIL): 52‑week highs on global auto upcycle
Why it’s active:
Samvardhana Motherson International hit a fresh 52‑week high around ₹120 , with volumes jumping more than 8x relative to normal. [41]
Key drivers:
- The company reported Q2 FY26 revenue of about ₹30,000 crore , robust EBITDA and strong profit growth, outpacing global industry volumes. [42]
- YES Securities reiterated a “BUY” rating with a revised target of ₹139 , emphasizing:
- New program ramp-ups,
- Increasing content per vehicle,
- Growing non-auto segments (consumer electronics, aerospace), and
- Diversification across high‑growth geographies including India, Mexico and broader Asia. [43]
Traders are treating SAMIL as a leveraged play on a global auto and EV recovery , with today’s breakout above earlier highs drawing in momentum money.
9. Ola Electric, Meesho, Suzlon & PSU banks: speculative and thematic flows
Several other most‑active names illustrate broader themes playing out in the market:
- Ola Electric & Meesho:
Recently listed “new‑age” stocks continue to see heavy intraday turnover , with Meesho still digesting its strong IPO listing premium of around 45–46% . [44]Traders are using these counters to express views on India’s EV transition and e‑commerce penetration. - Suzlon Energy, Reliance Power, Jaiprakash Power Ventures:
These high‑beta energy and infra plays remain favorites for short‑term traders, featuring prominently in top‑volume lists as investors position around policy, power sector reforms and cyclical upswings. [45] - PSU and mid‑tier banks (PNB, Canara Bank, South Indian Bank, Bank of Baroda):
Strong volumes in PSU lenders reflect continued interest in the public sector bank turnaround story and rotational trades within financials as private banks re‑assert leadership today. [46]
What today’s most active stocks tell us about market mood
Putting it all together, the most active stocks today in India paint a nuanced picture of risk sentiment:
- Risk appetite is alive, but selective
- High participation in Vodafone Idea, Eternal, Ola Electric, Meesho and Suzlon suggests traders are still comfortable owning high‑risk, high‑reward names .
- At the same time, big flows in HDFC Bank, Hindustan Zinc and SAMIL show continued preference for liquid large‑ and quality mid‑caps with clearer earnings visibility. [47]
- Domestic liquidity is offsetting global jitters – for now
- Strong SIP and mutual fund inflows provide a domestic cushion even as strategists like Emkay warn of stress from tariffs, rupee weakness and elevated valuations. [48]
- Valuations demand discipline
- Names such as Eternal and Kaynes Tech command premium multiples and are seeing sharp two-way price action as investors constantly re-price growth and governance risks. [49]
- Midcap and small‑cap volatility is likely to stay high
- The dramatic volume spikes in DCM Shriram, Neogen Chemicals, SAMIL and others show how quickly sentiment can swing when news hits, reinforcing brokerage advice to be picky and size positions carefully in the broader market. [50]
How traders and investors can use “most active” lists
For readers tracking the Indian market daily, most‑active stock lists are a powerful but often misunderstood tool. Some practical ways to use them:
- Idea generation, not blind chasing:
High value or volume is a signal to investigate , not an automatic buy/sell cue. Always cross‑check with fundamentals, news and technicals. - Spotting where institutional money is moving:
Large‑cap most‑active names (HDFC Bank, Hindustan Zinc, IndiGo) often indicate where fund flows and sector leadership are shifting. - Managing risk in high‑beta names:
When Vodafone Idea, Suzlon or Eternal show up with abnormal volume, expect larger intraday swings , wider spreads and the need for tighter risk management. - Tracking the tape around events:
IPO listings (Meesho), regulatory developments (IndiGo), ESG upgrades (Eternal) or court judgments (Vodafone Idea’s AGR case) tend to first show up as volume and turnover spikes before the longer‑term narrative is fully priced in. [51]
Final word and disclaimer
Today’s trading action in India’s most active stocks highlights a market that is recovering from recent declines , supported by robust domestic inflows and global tailwinds from the Fed, yet still grappling with valuation concerns, currency pressures and pockets of regulatory risk . [52]
References
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