Good morning!
Markets On Home Turf
The NSE Nifty 50 Index closed near 25,300; gaining for the second consecutive day. The Nifty closed 0.41% higher at 25,285.35, while the Sensex closed 0.40% up at 82,500.82.
The foreign portfolio investors on Friday stayed net buyers of Indian shares for the fourth day. The FPIs bought stocks worth approximately Rs 459 crore, according to provisional data from the National Stock Exchange. The DIIs that have stayed net buyers for over a month bought stake worth Rs 1,708 crore.
Wall Street Recap
The US markets witnessed a bloodbath on Friday, with S&P falling 2.7% to register its worst day since April 2025. The tech-heavy Nasdaq fell 3.5% while the Dow ended the day with cuts of around 1.9% - registering its worst day since May.
Cumulatively, the US markets saw $2 trillion getting wiped off, which came on the back of Donald Trump's threat to China, in which the US President flagged the Asian powerhouse's attempts to curb exports of rare earth minerals.
Asia Market Update
Declines in Asian stocks, which were closed when Trump made his comments Friday, indicate concerns about the durability of the truce.
Shares in South Korea and Australia retreated while futures indicated losses for Hong Kong and China, reports Bloomberg.
Commodity Check
Oil prices rose after the Trump administration signaled openness to a deal with China to quell fresh trade tensions between the two biggest crude consumers.
Brent advanced above $63 a barrel after plunging 3.8% on Friday in its biggest drop since August, while West Texas Intermediate was near $60, Bloomberg report.
Silver, meanwhile, swung near a record as an historic short squeeze in London and US-China trade tensions roiled the market, while gold set a new peak.
Silver rose as much as 1.1% to approach $51 an ounce, while platinum and palladium were both up more than 2%. Gold set a record above $4,060 an ounce, after notching an eighth straight weekly gain on Friday, according to Bloomberg.
Key Events To Watch
Government will release monthly consumer price inflation data.
Mongolian President Khurelsukh Ukhnaa on a state visit to India from Oct. 13–16
Canadian Foreign Minister Anita Anand will be in India.
India court is set to hear Vodafone Idea AGR case.
Earnings in Focus
Anand Rathi Wealth
HCL Technologies
Just Dial
Earnings
Avenue Supermarts Q2FY26 results (Consolidated, YoY)
Revenue up 15.5% at Rs 16,676 crore versus Rs 14,445 crore
EBITDA up 11% at Rs 1,214 crore versus Rs 1,094 crore
Margin at 7.3% versus 7.6%
Net profit up 3.9% at Rs 685 crore versus Rs 660 crore
Euro Pratik Sales Q1FY26 results (Consolidated, YoY)
Revenue up 33.2% at Rs 64.5 crore versus Rs 48.4 crore
EBITDA up 56.3% at Rs 22.1 crore versus Rs 14.2 crore
Margin at 34.3% versus 29.2%
Net profit down 34.5% at Rs 9.7 crore versus Rs 14.8 crore
Note: Net profit impacted due to fire incident
Waaree Renewable Technologies Q2FY26 results (Consolidated, YoY)
Revenue up 47.7% at Rs 775 crore versus Rs 524 crore
EBITDA at Rs 158 crore versus Rs 61.6 crore
Margin at 20.4% versus 11.7%
Net profit at Rs 116 crore versus Rs 53.5 crore
Business Updates
The Phoenix Mills Q2 Update (YoY)
Retailer sales in operational malls up 13%
Collections up 92% at Rs 115 crore
Gross residential sales up at Rs 139 crore
Signatureglobal (India) Q2 Update (YoY)
Pre-sales down 27.7% at Rs 2,010 crore
Collections up 2.2% at Rs 940 crore
Adani Energy Solutions Q2 Update (YoY)
Transmission business added 190 CKM in Q2
Distribution loss improved to 4.36% in Q2
System availability at 99.63%
Stocks In News
Brightcom Group: The company’s board approved the formation of a wholly owned subsidiary under the name Brightcom Defence Private Limited, marking a major step in the company’s diversification into defence and aerospace technologies.
Endurance Technologies: The company’s greenfield manufacturing plant at Aurangabad Industrial City has started commercial production of alloy wheels for two-wheelers from Oct. 11, with a capacity of 1,50,000 sets per month. The plant is designed for future expansion to 1,80,000 sets per month as new OEM orders are secured.
Lupin: The company informed that the USFDA has conducted a pre-approval inspection at its manufacturing facility located in Somerset, New Jersey, USA. The inspection, conducted from Sept. 29 to Oct. 10, concluded with one observation.
Welspun Enterprises: The company’s board will meet on Oct. 15, to consider raising funds through the issuance of convertible equity warrants via preferential allotment, subject to necessary approvals. The company also disclosed its L1 bidder status in two projects: a Rs 7,300 crore MoRTH-backed six-lane Pune–Shirur highway (53.4 km, 29-year concession) and a Rs 3,145 crore, 910 MLD Panjrapur water treatment plant with Veolia Water Technologies as partner.
Allcargo Logistics: The company announced that the National Company Law Tribunal has sanctioned the Composite Scheme of Arrangement involving Allcargo Logistics, its subsidiaries, and their respective shareholders.
BLS International Services: The company informed that the Ministry of External Affairs has debarred it from participating in future MEA tenders and Indian Mission projects for two years, without affecting existing contracts. The company stated this will not impact its ongoing contracts, financial performance, or operations, as Indian Missions contributed only about 12% of revenue and 8% of EBITDA in Q1FY26.
Quess Corp: The company received a refund of Rs 42.23 crore, including Rs 38.75 crore as tax refund and Rs 3.49 crore as interest.
Senco Gold: The company opened a new franchisee store in West Bengal, taking its total number of stores in India to 183.
Vesuvius India: The company ceased operations at its Visakhapatnam plant effective Oct. 13.
NHPC: The company started filling the reservoir for the Subansiri project, which is scheduled for commissioning during FY26.
Marine Electricals: The company announced plans to expand its capabilities in complete installation packages for naval projects, including battery and battery management systems (as per investor presentation).
Ramky Infrastructure: The company approved extending a corporate guarantee to bankers for a loan to be availed by Srinagar Banihal Expressway.
JTL Industries: The company received approval from NCLT for its resolution plan to acquire RCI Industries & Technologies for an upfront payment of Rs 46.5 crore.
NDTV: The company successfully completed its rights issue, raising Rs 396.49 crore with an oversubscription of 1.11 times, increasing its equity share capital from 6.45 crore to 11.28 crore shares.
Zen Technologies: The company secured a Rs 37 crore order from the Ministry of Defence for advanced anti-drone systems.
Bajaj Finserv: The company’s unlisted insurance subsidiaries reported operational updates. Bajaj General Insurance recorded a gross direct premium of Rs 2,218.77 crore for September 2025 and Rs 11,554.35 crore for April–September 2025. Bajaj Life Insurance recorded total new business premium of Rs 1,374.58 crore in September 2025 and Rs 6,327.17 crore for April–September 2025.
R M Drip and Sprinklers Systems: The company made a further investment in its subsidiary, Tuljai Agro Chemicals Private Limited, with a total consideration of Rs 86.65 lakh.
Medplus Health Services: The company’s subsidiary received a suspension order for a drug license for one store in Karnataka.
SBFC Finance: The company received communication from the Telangana tax authorities on October 10 confirming closure of the show cause notice. With this communication, the matter stands closed.
Multi Commodity Exchange of India: The company announced that Kavita Ravichandran has resigned as Chief Regulatory Officer effective Dec. 9.
Muthoot Finance: The company denied any wrongdoing and clarified that it neither collected nor handled investor funds, and has no commercial or business relationship with Srei Companies.
Asian Paints: The company’s arm, Asian White Inc FZE, commenced commercial production at its manufacturing facility in the UAE.
Kotak Mahindra Bank: The company announced the merger of its subsidiaries Sonata Finance and BSS Microfinance.
Confidence Petroleum: The company confirmed that the Income Tax Department conducted a survey action at various offices across India on Oct. 7 which has now been completed. The company extended full cooperation to the authorities.
Elecon Engineering: The company reported that its open order book as of Sept. 2025 stands at Rs 1,226 crore.
Senco Gold: The company opened a new franchisee store in Uttar Pradesh, taking its total store count in India to 184.
Colab Platforms: The company announced the incorporation of a wholly owned subsidiary, Colab Intelligence Pvt. Ltd., which will be engaged in the artificial intelligence sector.
NHPC: The company successfully completed the trial run of the fifth and final phase (85.72 MW) of its 300 MW Karnisar Solar Project in Bikaner, Rajasthan, making it ready for commercial operation.
Concord Control Systems: The company approved acquiring an additional 20.5% stake in Progota India, raising its total holding from 26% to 46.5%. The investment is being made under the share purchase agreement for the target company.
PC Jeweller: The company announced that the Debts Recovery Appellate Tribunal, Kolkata, has approved the handover of keys and inventory of its showrooms previously under DRAT Delhi’s custody.
Spandana Sphoorty Financial: The company appointed G Parthasarathy as Chief Risk Officer effective Oct. 16 following the resignation of Amit Anand effective Oct. 15.
Yash Highvoltage: The company successfully tested its first 245 kV oil-to-oil bushing and continues to strengthen testing and quality monitoring capabilities (as per investor presentation).
Reliance Power: The company confirmed that its Executive Director and CFO, Ashok Kumar Pal, has been arrested by the Enforcement Directorate in a money laundering case and has stepped down from his role with immediate effect. The company clarified that Anil Ambani has not been part of the board for over 3.5 years and is not connected to the ED’s action.
Biocon: The company announced that its newly inaugurated manufacturing facility in Cranbury, New Jersey, underwent a USFDA GMP inspection that concluded with one observation, which will be addressed promptly and is not expected to impact operations.
Gujarat Ambuja Exports: The company entered into an agreement with the Gujarat government to expand derivative capacity at its greenfield corn wet-milling plant in Gujarat, with a project cost of around Rs 100 crore.
Infosys: The company launched a customer experience suite for Salesforce.
JITF Infra Logistics: The company’s subsidiary entered into an agreement with Swachh Andhra Corporation to develop a 12 MW waste-to-energy plant in Andhra Pradesh, with a total project value of Rs 320 crore.
Sanofi Consumer Healthcare: The company announced that Narahari Naidu has resigned as Chief Financial Officer effective Oct. 15.
NTPC Green Energy: The company entered into an agreement with ENEOS Corporation to deliver green methanol and green hydrogen derivative products.
Varun Beverages: The company announced that Rohit Vishal Gupta has resigned as Chief Human Resources Officer.
Cemindia Projects: The company announced the name change of its subsidiary to Ceminfra Construction from ITD Cementation Projects.
L&T Finance: The company allotted 1.05 lakh non-convertible debentures worth Rs 1,050 crore on a private placement basis.
Mankind Pharma: The company executed its agreement with subsidiary Bharat Serums & Vaccines to acquire a branded generics business worth Rs 797 crore.
Travel Food Services: The company’s arm entered into an agreement with Delhi Airport to operate food and beverage outlets at Terminal 2.
Hindustan Construction Company: The company secured a Rs 204 crore contract from Hindalco Industries for pot shell and superstructure fabrication.
GHCL: The company informed that the Securities Appellate Tribunal has stayed SEBI’s earlier order related to Anurag Dalmia pertaining to Golden Tobacco.
Sarda Energy & Minerals: The company received consent from the Chhattisgarh Environment Board to operate its coal handling plant.
Dredging Corporation of India: The company appointed S Divakar as Managing Director and Chief Executive Officer for six months effective Oct. 16.
Amic Forging: The company approved issuing up to 2.6 lakh shares at an issue price of Rs 1,536 per share aggregating to Rs 40 crore and up to 65,000 warrants convertible into 65,000 shares at Rs 15,361 per warrant aggregating to Rs 9.9 crore.
Mahindra Lifespace Developers: The company announced plans to redevelop four residential societies in Mumbai with a potential project value of nearly Rs 800 crore.
DCB Bank: The company allotted 60 lakh shares on a preferential basis to one of its promoters at an issue price of Rs 127 per share worth Rs 83 crore.
HDFC Asset Management Company: The company’s board will meet on October 15, 2025, to consider a proposal for issuing bonus shares.
Godawari Power & Ispat: The company informed that a public hearing for expansion of its Ari Dongri iron ore mines to 6 million tonnes per annum will be held on Nov. 13, 2025.
Bank of Baroda: The company cut its one-month, six-month, and one-year MCLR by 5 basis points effective Oct. 12, 2025.
Prestige Estates Projects: The company issued a corporate guarantee of up to Rs 250 crore for its subsidiary Dollars Hotel and Resorts.
Godfrey Phillips India: The company reported that a fire broke out at a third-party tobacco processing plant in Andhra Pradesh. No injuries or loss of life were reported, and the cause of the fire is under investigation.
Sterling and Wilson Renewable Energy: The company’s US arm agreed to pay $2.25 million to OEG as a settlement payment. Both companies have settled claims arising from arbitration initiated by OEG.
Computer Age Management Services: The company’s board approved a stock split of one share into five shares.
Axis Bank: The company received a letter of caution from the Reserve Bank of India regarding a Calcutta High Court order to ensure compliance with KYC norms.
Quess Corp: The company announced that Sushanth Pai has resigned as Chief Financial Officer effective Oct. 17, 2025.
Advait Infratech: The company’s arm Advait Greenergy entered into an agreement with the Gujarat government to establish two projects in the state worth Rs 1,450 crore.
BASF India: The company entered into a binding transaction agreement with Carlyle to create a global standalone company for its coatings business.
Raymond Realty: The company announced plans to incorporate a wholly owned subsidiary named Chembur Realty.
SIS: The company’s subsidiary will acquire a 100% stake in State Medical Assistance Holdings for AUD 2.5 million.
Kirloskar Oil Engines: The company’s board approved the transfer of its Business-to-Customer segment by way of slump sale as a going concern to its wholly owned subsidiary, La-Gajjar Machineries.
Samvardhana Motherson International: The company informed that its indirect subsidiary SMP Automotive Solutions Slovakia has merged with Motherson SAS Automotive Systems and Technologies Slovakia.
Reliance Power: The company filed an application with NSE and BSE seeking no objection for reclassification of Reliance Capital to the public category.
Hind Rectifiers: The company appointed Manoj Nair as Chief Executive Officer.
KPIT Technologies: The company’s subsidiary KPIT Tech (UK) paid $6 million to acquire a 100% stake in OXI SRL Italy.
Zuari Agro Chemicals: The company allotted 69 lakh compulsorily convertible preference shares to Zuari Maroc Phosphates for Rs 177 crore.
Paytm: The company will acquire a 90% stake in Foster Payment Networks from Paytm Financial Services for Rs 55 crore.
Medi Assist Healthcare Services: The company approved the allotment of 37 lakh shares at Rs 535 per share, aggregating to Rs 198 crore.
Maruti Suzuki India: The company announced that the Income Tax Appellate Tribunal’s order for FY11–FY13 has largely ruled in its favour, setting aside tax additions of Rs 1,039.7 crore, Rs 2,346.7 crore, and Rs 3,092.5 crore respectively.
IPO Offering
Rubicon Research: The company operates in the pharma space and is engaged in manufacturing of differentiated formulations.
The public issue was subscribed to 2.37 times on day 2. The bids were led by institutional investors (1.82 times), retail investors (3.94 times), QIBS (2.11 times).Canara Robeco Asset Management: The company operates in the asset management space & serves as investment manager for Canara Robeco Mutual Fund
The public issue was subscribed to 48% on day 2. The bids were led by institutional investors (53%), retail investors (74%).Canara HSBC Life Insurance: The company operates in the life insurance space. Promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings.
The public issue was subscribed to 9% on day 1. The bids were led by institutional investors (5%), retail investors (14%), QIB (3%).
Listing
Tata Capital: The company is in diversified financial services and a subsidiary of Tata Sons.
The company's shares will debut on the stock exchange on Monday. The public issue was subscribed to 1.95 times on day 3. The bids were led by Qualified institutional investors (3.42 times), non-institutional investors (1.98 times), retail investors (1.1 times).
Bulk & Block Deals
CarTrade Tech: Goldman Sachs India sold 3.6 lakh shares (0.76%) at Rs 2,445 apiece, while Plutus Wealth Management bought 3.75 lakh shares (0.79%) at Rs 2,445.04 apiece.
Fabtech Technologies: Arihant Capital Markets bought 3.3 lakh shares at Rs 192.15 apiece.
IZMO: Neo Apex Venture LLP bought 1.44 lakh shares (0.97%) at Rs 939.81 apiece.
WeWork India Management: BOFA Securities Europe SA bought 3,058 shares at Rs 635.6 apiece and sold 9.47 lakh shares at Rs 643.17 apiece, CLSA Global Markets Pte sold 12.5 lakh shares at Rs 631.76 apiece, and Plutus Wealth Management bought 11.46 lakh shares at Rs 630.17 apiece.
Bonus Issue
Univastu India: In a 2:1 ratio
Board Meeting
Spandana Sphoorty Financial: To discuss fund raising.
Shares To Exit Anchor Lock-In
Smartworks Coworking (2%)
Bharti Hexacom (20%)
Trading Tweaks
List of securities shortlisted in Short - Term ASM Framework Stage – I : BlueStone Jewellery and Lifestyle
Price Band change from 10% to 5%: Cool Caps Industries and KIOCL
Price Band change from 5% to 20%: Dreamfolks Services
F&O Cues
Nifty Oct futures is up 0.56% to 25,415 at a premium of 130 points.
Nifty Oct futures open interest down by 1.26%
Nifty Options 14th Oct Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,200.
Securities in ban period: RBL Bank, Sammaan Capital
Currency/Bond Market
The rupee closed appreciated seven paise to close at 88.72 against the US dollar on Friday. The yield on the 10-year bond ended two points higher at 6.54%.
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