The domestic benchmark indices opened largely flat on Tuesday, 1 September, as stronger-than-expected domestic growth data helped counter concerns over higher crude oil prices amid renewed tensions in the Middle East.
The Nifty 50 was largely flat at 24,075.95, while the BSE Sensex was trading in positive territory, rising 78.48 points to 77,035.75, as of 11:04 IST
Most sectoral indices traded in the red, while the broader market also remained under pressure. The small-cap index fell 0.3%, while the mid-cap index declined more than 1%.
Despite the overall weakness in the market, several stocks bucked the trend and witnessed strong buying interest. Milky Mist Dairy Food rose 9.5%, while Manali Petrochemicals gained 8%. Vardhman Textiles surged 11.7%, and Godrej Agrovet climbed 10%.
Stocks in Focus
With these stocks outperforming the broader market, let’s take a look at the factors driving the rally in Milky Mist Dairy Food, Manali Petrochemicals, Vardhman Textiles and Godrej Agrovet.
Milky Mist Dairy Food
Shares of Milky Mist Dairy Food climbed more than 9% on Tuesday, following a strong performance in the June quarter. The recently listed dairy company posted a significant increase in profit, driven by higher sales volumes, strong demand for value-added products and improved operating margins.
Profit after tax surged nearly ninefold to ₹65 crore in Q1, compared with ₹6.53 crore in the corresponding quarter last year. Meanwhile, revenue from operations rose 43.6% year-on-year to ₹973.45 crore, from ₹678.09 crore.
The company witnessed broad-based growth across its product categories, with ice cream, curd and yoghurt emerging as key contributors. Milky Mist said the prolonged summer, particularly in South India, supported demand for these products during the quarter.
Operational performance also strengthened. Gross profit increased 56.1% to ₹333.02 crore, while the gross margin expanded to 34.21% from 31.46% a year earlier.
EBITDA grew 74.5% to ₹144.89 crore, compared with ₹83.02 crore in the year-ago quarter. The EBITDA margin also improved to 14.88% from 12.24%, reflecting better operating efficiency and profitability.
Milky Mist Dairy Food made a strong stock market debut earlier this month following its successful IPO. The shares are listed at an 18% premium to the issue price of ₹140.
Milky Mist Dairy Food share price today opened at ₹229.30 apiece on the BSE; the stock touched an intraday high of ₹231 apiece and an intraday low of ₹222 apiece.
According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, Milky Mist Dairy Food has maintained a steady upward trajectory since its stock market listing on 18 August.
Shah said the ₹204– ₹206 zone, which aligns with the stock’s previous support area, is likely to act as immediate support.
He expects the stock to extend its uptrend, provided it remains above the ₹204– ₹206 support zone.
Manali Petrochemicals
Manali Petrochemicals share price today opened at ₹83.62 apiece on the BSE; the stock touched an intraday high of ₹87.99 and an intraday low of ₹83.62. The stock gained 8% amid a flat day in the stock market.
Manali Petrochemicals has delivered strong returns across various timeframes, gaining 34% in the past one month, 45.87% over three months and 57% in six months. On a year-to-date basis, the stock has advanced 38%, reflecting sustained buying interest and strong momentum.
According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, Manali Petrochemicals witnessed a breakout from a downward-sloping trendline on the weekly chart around three weeks ago and has moved sharply higher since then.
Shah noted that the stock is currently trading above its key moving averages, while the rising ADX (Average Directional Index) indicates strengthening bullish momentum.
He said the ₹78.5– ₹78 zone is likely to act as immediate support. The stock is expected to extend its uptrend as long as it sustains above this support zone, Shah said.
Vardhman Textiles
Vardhman Textiles shares climbed as much as 12% today, extending their recent strong performance.
The stock has gained nearly 43% so far this year and around 49% over the past 12 months. Despite the recent rally, it remained about 10% below its 52-week high of ₹688.
According to Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, Vardhman Textiles has seen some profit-booking after a sharp upmove in 2026, during which the stock has delivered nearly 60% returns so far this year. However, he said the stock’s broader long-term technical structure remains firmly bullish.
Rathi noted that on the 3% × 3 Daily Point & Figure chart, the stock has formed a Bullish Anchor Column, indicating underlying strength in the broader uptrend. He believes the ongoing correction could therefore provide an opportunity to enter the stock at relatively lower levels.
He further pointed out that the reversal of a previous bearish pattern on the 1% × 3 Daily Point & Figure chart indicates that selling pressure at lower levels may be easing.
According to Rathi, a Column Reversal above 628 on the 3% × 3 Point & Figure chart would offer further confirmation that the corrective phase is nearing an end. A subsequent breakout above 670 could signal a resumption of the uptrend and open the possibility of further gains.
Godrej Agrovet
Godrej Agrovet shares were in focus on Tuesday, surging around 10% after Kotak Institutional Equities maintained a Buy rating on the stock. The shares have gained 23.52% over the past one month, reflecting strong investor interest.
Kotak Institutional Equities sees significant long-term potential in Godrej Agrovet’s oil palm business and assigns a fair value (FV) of ₹1,010 to the stock.
The brokerage noted that Godrej Agrovet’s oil palm business reported ₹4.3 billion in EBITDA in FY2026 and expects the segment to conservatively exceed ₹10 billion by FY2031. The growth is expected to be supported by double-digit growth in fresh fruit bunch (FFB) volumes and a rising contribution from value-added products.
Kotak Institutional Equities believes the segment’s long growth runway, stable margins and high return on capital employed (RoCE) justify attractive valuations. The brokerage added that the oil palm business alone could potentially be worth more than Godrej Agrovet’s current market capitalisation.
Godrej Agrovet share price today opened at ₹638.25 apiece on the BSE, the stock touched an intraday high of ₹689.25 per share, and an intraday low of ₹633.85 apiece.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
