Small, midcap stocks decline for 3rd day but stage partial recovery after Sergio Gor's comments: Check top losers

Broader markets

• Small and midcap stocks dropped as broader markets underperformed benchmarks
• Tejas Networks drops 9% after Q3 net loss and revenue fall.
• Market partially recovers after US-India trade deal comments by Ambassador Gor.

Did our AI summary help?

The shares of several small and midcap companies dropped in trade on January 12 as broader markets continued to underperform benchmark indices and traded in the red. This comes even as the indices saw some recovery after US Ambassador Sergio Gor commented on India-US trade deal.

The Nifty Smallcap 100 index, which earlier dropped nearly 2 percent during the day, was down 0.83 percent, as seen at 2.25 pm. Nifty Midcap 100 index, which fell more around 1 earlier, was down 0.42 percent.

What did the US Ambassador say?

The partial recovery was seen in the markets after US Ambassador Sergio Gors said there is "no partner more essential than India" to the President Donald Trump-led country. He further added that both the countries continue to engage actively, and the next call on the much-awaited trade deal will take place tomorrow. "President TRUMP will be visiting India in next 1-2 years hopefully," he added.

While assuming charge in New Delhi on Monday, Gor said that Trump had conveyed his best wishes to Prime Minister Narendra Modi, referring to the relationship between the two leaders as genuine. "Real friends can disagree, but resolve the difference," Gor said, framing current trade negotiations as part of a broader, resilient partnership.

Top smallcap losers:

Tejas Networks shares were the top losers on the Nifty Smallcap 100 index, falling more than 9 percent. Earlier during the day, the stock had declined as much as 13 percent. This came after the firm reported a consolidated net loss of Rs 196.55 crore for Q3 FY26, as against a net profit of Rs 165.67 crore reported in Q3 FY25. Sequentially however, the net loss narrowed from the Rs 307.13 crore reported in Q2 FY26.

The firm’s revenue from operations meanwhile tumbled more than 88 percent to Rs 306.79 crore in the December-October quarter of the ongoing financial year 2026.

Signatureglobal (India) followed, dropping nearly 5 percent after the real estate firm said it will not be able to meet its FY26 pre-sales guidance and there will be zero pre-sales growth YoY.

Radico Khaitan, Delhivery and Laurus Labs shares fell more than 4 percent, while NBCC, Natco Pharma, Trident, Zen Technologies and other stocks fell around 3 percent.

Top midcap losers:

Cummins India and Hitachi Energy India shares fell around 4 percent, while BHEL, Prestige Estates, Godrej Properties and ITC Hotels shares fell around 3 percent each.

Tata Communications, Bharti Hexacom, IDFC First Bank, Kalyan Jewellers, Biocon and others fell around 2 percent.

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