Good morning!
Markets On Home Turf
The benchmark indices ended in red with Nifty ending below the 25,800 mark. Nifty 50 ended 0.37% lower at 25,795.15 and Sensex closed 0.41% lower at 84,211.88 on Friday.
The foreign portfolio investors on Friday turned net buyers of Indian shares after a day of selling. The FPIs bought stocks worth approximately Rs 621.51 crore, according to provisional data from the National Stock Exchange. The DIIs stayed net buyers for the second day and bought stake worth Rs 173.13 crore.
US Market Wrap
On Friday, US markets saw a relief rally thanks cooler-than-estimated inflation data, which reinforced trader conviction on Federal Reserve interest-rate cuts.
Stocks extended their October advance, with the S&P 500 hitting fresh all-time highs amid speculation that policy easing will keep powering corporate earnings, reports Bloomberg.
Asian Market Wrap
Asian shares rose 0.8% with stocks in Japan and South Korea jumping by around 2%.
Futures for the S&P 500 and the Nasdaq 100 also advanced after both underlying indexes closed at a record high last week.
Futures for US copper — a bellwether for global growth — surged as well, as did oil, with the potential US-China deal bolstering the outlook for global demand
Commodity Check
Oil prices gained amid progress between the US and China on trade boosted the outlook for energy demand and lifted risk assets.
Brent rose above $66 a barrel, after rallying almost 8% last week, while West Texas Intermediate was near $62.
Gold, on the other hand, declined after posting its first weekly drop since mid-August. This comes on the back of the US and China nearing a trade agreement and on signs that a scorching rally in precious metals has run too far, too fast.
Bullion fell as much as 1.2% to near $4,065 an ounce.
While the rally in gold is slowly dissipating, copper is set to test a record high with the US and China on the cusp of a sweeping deal to dial down trade tensions, easing a major risk to global economic growth.
Prices on the London Metal Exchange closed 1.3% off an all-time peak at the end of last week. In an early sign of sentiment on Monday, futures in New York rose as much as 2.4%, while oil and US stocks also advanced, Bloomberg reports.
Key Events To Watch
External Affairs Minister S.Jaishankar will attend the 20th East Asia Summit in Kuala Lumpur and likely to meet US Secretary of State Marco Rubio
Commerce Minister Piyush Goyal will visit Brussels on Oct. 27–28, to discuss India-EU FTA
Home Minister Amit Shah will address the inaugural of India Maritime Week in Mumbai.
Earnings Post Market Hours
Coforge Q2FY26 Highlights (Consolidated, QoQ)
Revenue up 8.1% to Rs 3,986 crore versus Rs 3,689 crore.
EBIT up 34.2% to Rs 561 crore versus Rs 418 crore.
EBIT Margin at 14.1% versus 11.3%
Net Profit up 18.4% to Rs 376 crore versus Rs 317 crore.
Dr Reddy’s Q2FY26 Highlights (Consolidated, YoY)
Revenue up 9.8% to Rs 8,828 crore versus Rs 8,038 crore.
Ebitda down 3.2% to Rs 2,010 crore versus Rs 2,077 crore.
Margin at 22.8% versus 25.8%.
Net Profit up 7.3% to Rs 1,347 crore versus Rs 1,256 crore.
Supreme Petrochem Q2FY26 Highlights (YoY)
Revenue down 26.9% to Rs 1,100 crore versus Rs 1,506 crore.
Ebitda down 38.1% to Rs 77.5 crore versus Rs 125 crore.
Margin at 7% versus 8.3%.
Net Profit down 46.7% to Rs 48.2 crore versus Rs 90.3 crore.
Latent View Q2FY26 Highlights (Consolidated, QoQ)
Net Profit down 12.7% at Rs 44.4 crore versus Rs 50.8 crore.
Revenue up 9.1% at Rs 258 crore versus Rs 236 crore.
EBIT up 12.1% at Rs 45.8 crore versus Rs 40.8 crore.
Margin At 17.8% versus 17.3%.
Eclerx Services Q2FY26 Highlights (Consolidated, QoQ)
Net Profit up 29.3% at Rs 183 crore versus Rs 142 crore.
Revenue up 7.5% at Rs 1,005 crore versus Rs 935 crore.
EBIT up 24.5% at Rs 229 crore versus Rs 184 crore.
Margin at 22.7% Vs 19.6%.
To buyback shares worth up to Rs 300 crore at Rs 4,500 per share.
SBI Cards Q2FY26 Highlights (Consolidated, YoY)
Net Profit up 10% at Rs 445 crore versus Rs 404 crore.
Net Interest Income up 15% at Rs 1,730 crore versus Rs 1,502 crore.
Kotak Mahindra Bank – Q2FY26 Earnings (YoY)
Net Interest Income (NII) up 4% at Rs 7,311 crore vs Rs 7,020 crore
vs NDTV Profit Estimate of Rs 7,266 crore
Operating Profit up 3.3% at Rs 5,268 crore vs Rs 5,099 crore
Provisions up 43.5% at Rs 947 crore vs Rs 660 crore
vs NDTV Profit Estimate of Rs 1,072 crore
Net Profit down 2.7% at Rs 3,253 crore vs Rs 3,344 crore
vs NDTV Profit Estimate of Rs 3,091 crore
Other Key Metrics:
Net Interest Margin (NIM): 4.54% vs 4.65% (QoQ)
Gross NPA: 1.39% vs 1.48% (QoQ)
Net NPA: 0.32% vs 0.34% (QoQ)
Net Advances: up 16% YoY at Rs 4.63 lakh crore
Total Deposits: up 14% YoY at Rs 5.1 lakh crore
Fresh Slippages: Rs 1,629 crore vs Rs 1,812 crore (QoQ)
Upgrades & Recoveries: Rs 688 crore vs Rs 549 crore
Write-offs: Rs 1,099 crore vs Rs 759 crore (QoQ)
Credit Card Book continues to degrow, down 14% YoY at Rs 12,444 crore
Retail Microcredit Loans: at Rs 5,725 crore, down 41% YoY
Seshasayee Paper And Boards Q2 Earnings (Cons,Yoy)
Revenue down 13.1% At Rs 346.3 crore vs Rs 398.5 crore
Ebitda down 14.4% At Rs 26.3 crore vs Rs 30.7 crore
Margin At 7.6% vs 7.7%
Net Profit down 21.3% At Rs 22.4 crore vs Rs 28.5 crore
Earnings Today
Adani Energy Solutions, Canara HSBC Life Insurance Company, Indus Tower, IOCL, JK Tyre, KFin Tech, Mazagon Dock Shipbuilders, Supreme Industries.
Stocks In News
Crompton Greaves: The company secures an order worth Rs 445 crore to set up a solar rooftop system in Andhra Pradesh for 40,000 homes.
Crizac: The company enters into definitive agreements to acquire a controlling stake in StudiesPlanet.com.
Shalby: The company announces the resignation of Amit Pathak as Chief Financial Officer.
RCF: The company receives approval from the Department of Fertilisers to transfer 7,104 sq. metres of land to the Municipal Corporation of Greater Mumbai.
Coforge: The company approves voluntary winding up of its subsidiaries, Coforge SF, UK, and Coforge DPA, UK.
Bharat Rasayan: The company’s board recommends a bonus share issue in the ratio of 1:1.
PTC Industries: The company secures an order from GTRE and DRDO to manufacture single crystal ‘ready-to-fit’ turbine blades.
Hindalco: The company announces that its Hot Mill is expected to restart by the end of December 2025 following a fire incident, with a subsequent 4–6 week ramp-up period. The company also enters into a share purchase agreement to acquire 100% stake in EMIL Mines & Mineral Resources. The acquisition is to be completed on or before November 30.
Puravankara: The company’s subsidiary secures an order worth Rs 211.5 crore for construction of core and shell with finishing works for a residential project.
Nuvoco Vistas: The company announces discontinuation of income tax proceedings for fiscal year 2020-21 by the Principal Commissioner of Income Tax.
Dr Lal Path Labs: The company’s board to meet on Oct. 31 to consider issuance of bonus shares.
Mahindra & Mahindra: The company appoints Parag Rao as Growth Leader for Financial Services.
RailTel Corporation: The company announces cancellation of a Rs 210 crore work order by the Bihar Education Project Council due to unavoidable reasons.
IOL Chemicals: The company incorporates a wholly owned subsidiary named IOL Pharmaxis UK.
Aditya Birla Capital: The company allots 36,000 non-convertible debentures worth Rs 360 crore on a private placement basis.
General Insurance Corporation: The company announces the appointment of Hitesh Ramesh Chandra Joshi as chairman and managing director for a tenure of three months by the Ministry of Finance.
Container Corporation of India: The company signs two strategic MoUs with Adani Cement.
Neogen Chemicals: The company appoints Anurag Surana as Non-Executive Chairman and Sanjay Mehta as Chairman of its subsidiary, Neogen Ionics.
Waaree Energies: The company secures orders to supply 220 MW, 210 MW, and 140 MW solar modules. In addition, its subsidiary received an additional order to supply 122 MW solar modules.
Vikram Engineering: The company secures an order worth Rs 354 crore for the development of a solar PV power project in Maharashtra.
ARSS Infra: The company secures multiple orders aggregating to Rs 430 crore from Shivam Condev.
Zydus Lifesciences: The company receives approval from Health Canada for its generic Mesalamine suppositories, used to treat mildly to moderately active ulcerative proctitis.
Indian Oil Corporation: The company announced that CIT(A) has partly allowed its appeal, granting relief of Rs. 1,102.91 crore. It will contest the remaining disputed tax of Rs 91.16 crore before the Income-Tax Appellate Tribunal.
Thirumalai Chemicals: The company reschedules its board meeting to Oct. 29 to consider the issue of equity shares on a preferential basis.
Tamilnad Mercantile Bank: The company opens new branches in Andhra Pradesh and Kerala.
Supreme Industries: The company announces the resignation of Saurov Ghosh as Chief Human Resource Officer.
Bharat Wire Ropes: The company announces that Lloyds Metals has acquired CCPS from promoters, 9,895 units from Union Bank and 4,674 from Central Bank, through an off-market transaction. Ther will be no change in the company’s paid-up capital.
IRCON International: The company, in joint venture with Finolex J-Power Systems, secures an order worth Rs 168 crore from the Maharashtra State Electricity body.
Muthoot Microfin: The company’s board to meet on Oct. 29 to consider raising funds through issuance of non-convertible debentures.
Reliance Industries: The company affirms confidence in its time-tested, diversified crude sourcing strategy, ensuring stability and reliability of refining operations; notes EU, UK, and US restrictions on Russian oil imports and confirms full compliance with government guidance while assessing implications of new compliance requirements.
EPACK Prefab: The company secures an order worth Rs 130 crore from Avaada Ventures for setting up a glass factory in Nagpur.
Reliance Intelligence / REIL: Reliance Intelligence Ltd, a wholly owned subsidiary of Reliance Industries, incorporated Reliance Enterprise Intelligence Ltd. on Oct. 24, 2025. Reliance Intelligence will invest Rs 2 crore towards initial subscription of 20,00,000 equity shares of Rs 10 each. REIL will be a joint venture with Facebook Overseas, Inc., a subsidiary of Meta Platforms, Inc., focused on enterprise AI services. Reliance Intelligence will hold 70% and Facebook 30%. Both parties have committed an initial investment of approximately Rs 855 crore. No governmental or regulatory approvals were required.
LIC: Issues clarification denying false reports by the Washington Post. Affirms that all investments were made with integrity and due diligence, and decisions are taken independently as per board-approved policies.
Reliance Communications: Loan account classified as ‘fraud’ by Bank of Maharashtra. RBI Master Directions consequences to follow, including filing of police or CBI complaint. 66th Meeting of Committee of Creditors scheduled for Oct. 27, 2025.
Ola Electric Mobility: Board approves raising funds up to Rs 1,500 crore via equity and other means.
GPT Infraprojects: Receives Rs 195 crore order from Terminal Industriel Polyvalent De San Pedro, Ivory Coast.
HUDCO: Enters pact with Jawaharlal Nehru Port Authority to explore and finance infrastructure projects worth Rs 5,000 crore.
Subros: Receives Rs 27 crore order from Indian Railways, Banaras Locomotive Works, Varanasi.
NCC: Gets Letter of Acceptance for Rs 6,828.94 crore project from Central Coalfields for extraction in Jharkhand.
JK Cement: Commissions 1.00 MnTPA cement grinding facility at JK Cement Works, Prayagraj. Installed capacity at Prayagraj now 3.00 MTPA. Overall grey cement production capacity stands at 26.26 MTPA.
PNC Infratech: Appoints Ashish Jain as Executive Director effective immediately. He previously served as Deputy Director.
Suryoday Small Finance Bank: RBI approves revision of fixed remuneration payable to managing director and cheif executive officer for fiscal 2026.
BHEL: Files two petitions against arbitration award worth Rs 201 crore.
Kotak Mahindra Bank: Re-appoints C S Rajan as Part-Time Chairman from Jan. 1, 2026 to Oct. 21, 2027.
MedPlus Health Services: Drug licenses of two stores in Karnataka and Telangana temporarily suspended.
Sammaan Capital: To hold Extraordinary General Meeting on Oct. 29 via video conferencing.
DOMS Industries: Receives order worth Rs 35.5 lakh from Kashmir Tax Department for transporting goods with inadequate documents.
Bikaji Foods: Additional subscription of shares amounting to $150,000 in Bikaji Foods International USA Corp.
Global Health: Receives letter from Assam Industrial Development Corporation allotting 3.5 acres of land on 60-year lease.
NTPC: Arm Patratu Vidyut Utpadan Nigam successfully completes trial operations. Included in NTPC Group’s installed capacity, now totaling 84,849 MW.
TCS: Marks & Spencer cancels IT service contract worth $1 billion. Company had lost £300 million in April due to cyberattack.
JSW Energy: Plans to operationalize 5 GWh battery assembly unit in Pune in Q3.
JBM Auto & Olectra Greentech: CESL to open tender for 10,900 e-buses next month.
Zydus Lifesciences: Arm Zydus MedTech France increases stake in Surgical SA, France from 86% to 100%.
Cohance Lifesciences: Receives Official Action Indicated report from USFDA for FDF Unit 1 in Hyderabad.
ONGC / OVL: OVL seeks legal advice after US sanctions oilfield with Indian stake.
Redington: Receives favorable order from Deputy Commissioner, quashing demand of Rs 91.74 crore.
Bulk & Block Deals
Man Coat Metal and Industries: Lario Mona bought 5.35 lakh shares at Rs. 170.87 a piece.
Midwest: Goldman Sachs Funds bought 4.34 lakh shares at Rs. 1152.56 a piece.
Thyrocare Tech: Docon Technologies sold 53.32 lakh shares (10.06%) at Rs 1,252.03 a piece. Aditya Birla Sun Life Mutual Fund bought 10.33 lakh shares (1.95%) at Rs 1,252 apiece, Eastsprint Investments India bought 3.2 lakh shares (0.60%), HDFC Mutual Fund bought 4.43 lakh shares (0.84%), HSBC Mutual Fund MidCap Fund bought 6.6 lakh shares (1.26%), ICICI Prudential Mutual Fund bought 17.48 lakh shares (3.30%) at Rs 1,252 a piece.
Corporate Actions
Interim Dividend
L&T Technology Services - Rs 18 per share.
PCBL Chemical - Rs 6 per share.
Infosys - Rs 23 per share.
Tanla Platforms - Rs 6 per share.
360 One WAM - Rs 6 per share.
CESC - Rs 6 per share.
REC - Rs 4.60 per share.
Shares to Exit Anchor Lock-In
Solarworld Energy Solutions (4%)
Jaro Institute of Technology (3%)
Anand Rathi Share and Stock Brokers (4%)
Seshaasai Technologies (2%)
Ganesh Consumer Products (5%)
Atlanta Electricals (2%)
Pledge Share Details
D. B. Corp: D B Power, the promotor group acquired 96,000 shares.
Shilchar Technologies: Alay Jitendra Shah, The Promoter & Director disposed 1 lakh shares.
Trading Tweaks
List of securities to be excluded from ASM Framework: SML Isuzu.
Price Band change from 20% to 5%: BF UTILITIES.
F&O Cues
Nifty Oct futures is down 0.63% to 25,814.30 at a premium of 19 points.
Nifty Oct futures open interest down by 18.29%
Nifty Options Oct. 28 Expiry: Maximum Call open interest at 26,500 and Maximum Put open interest at 25,500.
Securities in ban period: SAIL, SAMMAANCAP
Currency/Bond Market
The rupee appreciated 5 paise to close at 87.83 against the US dollar on Friday, supported by optimism around India-US trade talks and a decline in global crude oil prices. The yield on the 10-year bond ended one point lower at 6.54%.
RECOMMENDED FOR YOU
Kotak Mahindra Bank Shares Drop Nearly 3% After Q2 Profit Decline
AU Small Finance Bank Q2 Results: Profit Declines 2%; NII, Provisions Rises
Stock Market Today: All You Need To Know Going Into Trade On Oct. 15
HDFC AMC Q2 Results: Profit Down 4%; Bonus Issue Announced — Check Details
POPULAR