Good morning!
Markets On Home Turf
The benchmark indices slightly underperformed in comparison to the broader market indices. The Nifty 50 ended 0.23% down at 25,227.35 and Sensex closed 0.21% lower at 82,327.05 on Monday.
The foreign portfolio investors on Monday turned net sellers of Indian shares, after being buyers for four sessions. The FPIs sold stocks worth approximately Rs 240 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 2,333 crore.
Asian Market Update
Hang Seng futures jumped 3.2%
Japan’s Nikkei fell 1.21%
Australia’s S&P/ASX 200 was 0.11%
US Market Update
The S&P 500 surged 1.68% to close at 6,654.69
Nasdaq surged 2.21% to end at 22,694.61
The Dow Jones Industrial Average declined 588.05 points, or 1.29%, to finish at 46,067.65.
Commodity Check
Oil advanced after paring a slump in the week’s opening session, as investors weigh the fallout of renewed US-China trade tensions against demand, reports Bloomberg.
Brent, meanwhile, traded above $63 a barrel — after gaining in the previous session following a 3.8% plunge on Friday, while West Texas Intermediate was near $60.
Silver prices touched an all-time high above $52.50 an ounce, as a historic short squeeze in London added momentum to a rally that’s been fueled by surging demand for safe-haven assets, Bloomberg reported.
Spot prices rose as much as 0.4% to $52.5868 an ounce in London, surpassing a peak set in January 1980.
Spot gold was up 0.5% at $4,129.80 an ounce at 7:38 a.m. in Singapore, after climbing 2.3% on Monday.
Key Events To Watch
The government is expected release wholesale price inflation data for Sept.
Earnings In Focus
Cyient DLM
ICICI Lombard General Insurance Company
ICICI Prudential Life Insurance Company
Indian Renewable Energy Development Agency
Persistent Systems
Tech Mahindra
Thyrocare Technologies
Earnings Post Market Hours
HCL Technologies Q2 FY26 (Cons, QoQ)
Revenue up 5.24% at Rs 31942 crore versus Rs 30349 crore.
Ebit up 11.33% at Rs 5502 crore versus Rs 4942 crore.
Ebit margin up 94 bps at 17.22% versus 16.28%.
Net profit up 10.2% at Rs 4235 crore versus Rs 3843 crore.
LTM Attrition at 12.6%
TCV (New Deal wins) at $2,569M, up 41.8% QoQ & up 15.8% YoY
Constant Currency (CC) Revenue up 2.4% QoQ & up 4.6% YoY
USD Revenue of $3,644M, up 2.8% QoQ & up 5.8% YoY
Deal with scheme at $2.5 billion, 42% uptake QoQ basis
Lower end of service revenue guidance revised from 3% to 5% to 4% to 5%.
Company maintains its guidance Ebit and Revenue
Attrition remains stable at 12.6%
Anand Rathi Wealth Q2 FY26 (Cons, QoQ)
Revenue at Rs 297 crore versus Rs 274 crore up 8.39% QoQ, 22.72% YoY
AUM grew by 22% (YoY) to 91,568 crore
Ebitda at Rs 137.13 crore versus Rs 128.66 crore up 6.58% QoQ, 31.75% YoY
Ebitda margin down 78 bps at 46.17% versus 46.95% (QoQ), 43% (YoY)
Profit before tax at Rs 134 crore versus Rs 126 crore up 6.34% (QoQ), 31% (YoY)
Net profit at Rs 99.35 crore versus Rs 93.91 crore, up 5.79% (QoQ), up 30.9% (YoY)
Company achieved more than 50% of its full-year revenue and PAT guidance.
Just Dial Q2 Earnings FY26 (Consolidated, QoQ)
Revenue up 1.7% at Rs 303 crore versus Rs 298 crore
Ebitda up 0.7% at Rs 87 crore versus Rs 86.4 crore
Margin at 28.7% versus 29%
Net Profit down 25.2% at Rs 119 crore versus Rs 160 crore
Q2 Business Update
Landmark Cars: The company is further strengthening its partnership with Mahindra & Mahindra through the planned opening of a new sales outlet in Hyderabad, expanding its geographic presence.
The recent cut in vehicle prices is expected to support a sustainable revival in demand. Additionally, new outlet additions and strong festive demand during Navratri contributed positively to Q2 performance.
In terms of financial performance:
Vehicle sales grew 35% YoY to Rs 1,403 crore.
Sales from after-sales services, spare parts, and others up by 10% YoY to Rs 252 crore.
Total revenue from operations rose by 30.5% YoY, reaching Rs 1,655 crore.
Stocks In News
RBL Bank: Emirates NBD set to buy a controlling stake in thea bnk. Dubai-based lender to buy around 60% stake in the bank for approximately $3 billion as per the sources to NDTV Profit. The transaction to be entirely done on fresh equity basis.
KEC International: The company received order worth Rs 1,174 crore for transmission and distribution projects in India & Middle East.
Oil India: The company signed a 15-year pact with NEEPCO for continued gas supply to power plant in Bokuloni, Assam.
KFin Technologies: The company completed initial transaction via its Singapore arm. The company in a definitive pact to acquire 51% stake of Ascent fund services (Singapore) Pte.
Eicher Motors: Mario Alvisi, Chief Growth Officer of Electric Vehicles, resigns. The company integrates EV Brand & commercial teams with the core commercial & brand organisations.
RSWM: The company is in a pact with Birla Advanced Knits for purchase of their dying, processing and knitting machinery for Rs 54.11 crore.
LT Foods: The company is in a share purchase pact with Global Green International N.V. to aquire 3 entities. acquisition will be undertaken either by LT Foods Europe Holdings or via any of its arms.
Marico: The company received copy of order issued by winding up certificate of arm MBL Industries. MBL Industries has been voluntarily liquidated effective September 18.
63 Moons Technologies: Arm 63SATS Cybertech raises Rs 65.1 crore via issuance of 6 crore shares on private placement basis.
Lodha Developers: The company acquires nearly 8.37 acres land in Bengaluru via acquiring 100% stake in Chaitanya Bilva.
SG Finserve: Sorabh Dhawan, Chief Executive Officer, resigned from the company. Sahil Sikka resigned as Chief Financial Officer (CFO) and Chief Operating Officer (COO) of the company, with effect from the close of business hours on December 31, 2025.
Aegis Vopak Terminals: The company's board is to mull fundraise by issuance of NCDs via private placement basis on Oct 16.
PNC Infratech: The company incorporated a wholly owned subsidiary for Renewable Energy Projects.
Lloyds Engineering: The company signs an MOU with Poland’s Flyfocus to develop advanced FPV Drones for Defence Sector.
IPO Offering
Rubicon Research: The company operates in the pharma space and is engaged in manufacturing differentiated formulations. The public issue was subscribed to 103.9x on day 3. The bids were led by QIBs (130.26 times), NII (97.61 times), Retail (35.37 times), Employee Reserved (16.8 times).
Canara Robeco Asset Management: The Company operates in Asset management space & serves as investment manager for Canara Robeco Mutual Fund. The public issue was subscribed to 9.74 times on day 3. The bids were led by QIBs (25.92 times), NII (6.45 times), Retail (1.91 times).
Canara HSBC Life Insurance: The company operates in life insurance space. Promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings. The public issue was subscribed to 0.27 times on day 2. The bids were led by institutional investors (0.32 times), retail investors (0.27 times), employee reserved (1.17 times).
IPO Listing
LG Electronics India: The company is a manufacturer and distributor of home appliances and consumer electronics (excluding mobile phones). The company's shares will debut on the stock exchange on Tuesday. The public issue was subscribed to 54.02 times on day three. The bids were led by Qualified institutional investors (166.51 times), non-institutional investors (22.4 times), retail investors (3.55 times).
Bulk Deals
Aptus Value Housing Finance: BNP Paribas Financial Markets bought 3.34 lakh shares (0.06%) at Rs 315.25 apiece, while Morgan Stanley Asia (Singapore) Pte. sold 3.34 lakh shares (0.06%) at Rs 315.25 apiece.
WeWork India Management: CLSA Global Markets sold 8.36 lakh shares (0.62%) at Rs 618.55 apiece.
Trading Tweaks
Rights Issue: Utkarsh Small Finance Bank
Stock Split: Tata Investment Corp, Gokul Agro Resource
Demerger: Tata Motors
List of securities shortlisted in Short - Term ASM Framework Stage: Jindal Photo
List of securities to be excluded from ASM Framework: Sammaan Capital, RACL Geartech
F&O Cues
Nifty Oct futures is down by 0.35% to 25,321 at a premium of 94 points.
Nifty Oct futures open interest down by 0.24%.
Nifty Options 14 Oct Expiry: Maximum Call open interest at 25,300 and Maximum Put open interest at 25,200.
Securities in ban period: RBL Bank, Sammaan Capital
Currency/Bond Market
The rupee closed appreciated two paise to close at 88.68 against the US dollar on Monday. The yield on the 10-year bond ended two points lower at 6.52%.
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