Stock Market Today, GIFT Nifty Live: Sensex, Nifty To Open Flat; Nikkei Slips 2%; UltraTech Cement, Hindustan Zinc Q2 Results In Focus

• IDBI Bank reported a Q2 net profit of Rs 2,205 crore, down 39.2% YoY from Rs 3,627 crore.

• The decline was largely due to a high base in Q2 FY26, when the bank had reported significant provision write-backs, boosting profitability.

• Net Interest Income (NII) rose 29% YoY to Rs 4,228 crore, supported by strong growth in the corporate banking business.

• Operating profit declined 17.9% YoY to Rs 2,893 crore from Rs 3,523 crore, impacted by lower other income and higher employee costs.

• Other income declined 45% YoY, reflecting the absence of a one-time gain of about Rs 1,700 crore recorded in the year-ago quarter and weaker treasury income amid higher yields.

• Asset quality remained largely stable, with Gross NPA improving to 2.12% from 2.30% QoQ, while Net NPA inched up to 0.17% from 0.16% in the previous quarter.

• Provisions stood at Rs 8.6 crore, compared with reversals of Rs 653 crore a year ago and Rs 637 crore in the preceding quarter.

• Management highlighted healthy improvement in overall asset quality, lower fresh stress formation and continued growth in the corporate lending portfolio.

• HDFC Bank's NIM declined to 3.16% from 3.26% in Q1 FY27, impacted by the drag from FCNR(B) deposits and moderation in the CASA mix.
• Management said margins are nearing their bottom and should begin improving, with benefits from recent RBI rate hikes expected to start reflecting from December.
• The bank expects the FCNR(B) deposit cost drag to continue in Q3, but believes margin pressures will reverse as the rate cycle plays out.
• Management said there are no concerns regarding the agriculture portfolio despite uneven rainfall and noted that underlying core business momentum remains encouraging.
• HDFC Bank also highlighted a sharp increase in term deposits, while indicating that it is trying to reduce the inflow of corporate liabilities and improve its deposit mix over time.
   


 

• HDFC Bank reported a largely in-line Q2 FY27 performance, with net profit rising 4.7% YoY to Rs 19,510 crore and Net Interest Income (NII) increasing 9.7% YoY to Rs 34,619 crore.
• Pre-Provision Operating Profit (PPOP) grew 5.6% YoY to Rs 29,483 crore, supported by broad-based business growth across segments.
• Loan growth stood at 16% YoY, while deposits grew 18.8% YoY, aided by strong term deposit inflows and FCNR(B) deposits.
• Asset quality improved further, with Gross NPA declining to 1.11% from 1.17% QoQ and Net NPA easing to 0.37% from 0.41% QoQ.
• Provisions increased 16.8% sequentially to Rs 3,574 crore, while management highlighted a marginal increase in credit costs.

• ICICI Bank said margins are likely to remain under pressure in Q3 FY27, with the full impact of FCNR-B deposits expected to be visible during the quarter.
• Management attributed the recent decline in margins largely to FCNR-B deposits and higher retail term deposits, while noting that excess FCNR-B liquidity will be deployed over the next two quarters.
• The bank expects margins to improve from Q4 FY27 as surplus liquidity gets deployed more efficiently.
• Management said it expects two more RBI repo rate hikes during the current cycle and remains focused on expanding profitability through growth in absolute NII, PBT and PAT.
• The bank also indicated that credit card growth could improve in Q3, while gold loan volumes are expected to recover once alignment with RBI guidelines is completed.

• ICICI Bank reported a healthy Q2 performance, with net profit rising 20.1% YoY to Rs 14,843 crore and Net Interest Income (NII) increasing 17.7% YoY to Rs 25,339 crore.
• Pre-Provision Operating Profit (PPOP) grew 18.9% YoY to Rs 20,575 crore, aided by stronger operating performance and cost controls.
• Asset quality improved further, with Gross NPA declining to 1.2% from 1.38% QoQ and Net NPA easing to 0.3% from 0.35% QoQ.
• Fresh slippages declined 13% QoQ, while provisions fell 32% sequentially to Rs 851 crore from Rs 1,260 crore.
• Loan growth was driven by the corporate banking segment, while profitability came in better than market expectations.

• Indonesia's 10-year government bond yield rose 12 basis points to its highest level in four months.
• The move reflects heightened risk aversion among investors as Indonesian financial markets face pressure following the MSCI warning.
• Rising bond yields indicate weaker bond prices and tighter financial conditions in the market.

• Tejas Networks reported Q2 revenue of Rs 406 crore, up 0.9% QoQ from Rs 402 crore.
• EBITDA loss widened to Rs 107 crore from Rs 100 crore in the previous quarter.
• Net loss narrowed to Rs 207 crore from Rs 307 crore sequentially.

• Indonesia's benchmark IDX Composite Index fell as much as 5%, extending losses after an MSCI-related warning, and dropped to its lowest level since October 2020.
• The sharp selloff came amid concerns that a potential MSCI action could affect investor flows and Indonesia's standing in global equity benchmarks.
• Indonesian equities have been under pressure as investors assess the implications of the MSCI review for foreign investment and market liquidity.

• China's GDP expanded 4.5% year-on-year in Q3 2026, accelerating from 4.3% growth in Q2 and exceeding market expectations of 4.4%.

• The improvement comes after recent policy easing measures aimed at supporting economic activity.

• Q2 growth had marked the country's weakest pace in three years, making the Q3 rebound a closely watched indicator of recovery momentum.

• The stronger-than-expected GDP reading is likely to be viewed positively by markets tracking global growth, commodity demand and regional trade trends.

• Indonesian markets witnessed broad-based weakness, with stocks tumbling and bond yields rising after an MSCI downgrade warning.
• The decline underscores investor concerns over potential foreign fund outflows and the impact on Indonesia's capital markets.
• Indonesia has emerged as a key focus area for emerging-market investors following the latest MSCI-related developments.

• DLF reported Q2 net profit of Rs 1,301 crore, up 10.3% YoY from Rs 1,180 crore.
• Revenue declined 23.3% YoY to Rs 1,261 crore from Rs 1,643 crore.
• EBITDA plunged 91.9% YoY to Rs 23 crore from Rs 284 crore.
• EBITDA margin contracted sharply to 1.8% from 17.3%.
• Other income increased to Rs 1,037 crore from Rs 619 crore a year ago, supporting profitability.

• Oberoi Realty reported Q2 net profit of Rs 762 crore, up 0.3% YoY from Rs 760 crore.
• Revenue declined 6.1% YoY to Rs 1,671 crore.
• EBITDA remained largely flat at Rs 1,019 crore.
• EBITDA margin expanded to 61% from 57.3% in the year-ago quarter.

• L&T Technology Services (LTTS) reported Q2 net profit of Rs 1,398 crore, down 4.6% QoQ from Rs 1,466 crore.
• Revenue increased 1.7% QoQ to Rs 11,808 crore.
• EBIT rose 2.2% QoQ to Rs 1,839 crore.
• EBIT margin improved to 15.6% from 15.5%.
• The company announced an interim dividend of Rs 25 per share.

• Punjab National Bank (PNB) reported Q2 net profit of Rs 5,532 crore, up 12.8% YoY from Rs 4,904 crore.
• Net Interest Income (NII) grew 10.8% YoY to Rs 11,601 crore.
• Operating profit rose 4.2% YoY to Rs 7,532 crore.
• Gross NPA improved to 2.55% from 2.78% QoQ, while Net NPA declined to 0.25% from 0.28%.
• Provisions fell sharply to Rs 97 crore, compared with Rs 541 crore in Q1 and Rs 643 crore a year ago.

• Urban Company reported Q2 revenue of Rs 537 crore, up 41.3% YoY from Rs 380 crore.
• EBITDA loss widened to Rs 188 crore from Rs 68.7 crore a year ago.
• Net loss widened to Rs 182 crore from Rs 59 crore.
• The company also approved plans to raise Rs 2,500 crore through equity, debt and other routes.

• Jindal Saw reported Q2 consolidated net profit of Rs 47 crore, down 69.1% YoY from Rs 152 crore.
• Revenue rose 5.6% YoY to Rs 4,472 crore from Rs 4,234 crore.
• EBITDA declined 42.3% YoY to Rs 261 crore from Rs 452 crore.
• EBITDA margin contracted to 5.8% from 10.7% a year ago.

• Bajaj Housing Finance reported Q2 net profit of Rs 757 crore, up 17.7% YoY from Rs 643 crore.
• Total income increased 18.3% YoY to Rs 3,251 crore from Rs 2,748 crore.

• Stocks likely to remain in focus ahead of earnings include Bajaj Finance, UltraTech Cement, Indian Renewable Energy Development Agency (IREDA), Federal Bank, Oberoi Realty, Punjab National Bank, Tejas Networks and Ujjivan Small Finance Bank.
• The earnings announcements are expected to provide fresh cues on sectoral trends across financials, real estate, renewables, telecom and consumer-facing businesses.

• More than 35 companies are scheduled to announce their September-quarter earnings on Monday.
• Key earnings to watch include Bajaj Finance, HFCL, Hindustan Zinc, IREDA, L&T Technology Services, Piramal Finance, Sobha, UltraTech Cement, Union Bank of India, and Waaree Renewable Technologies.
• Investors will closely track management commentary on demand trends, margins, asset quality and capital expenditure.

• Brent crude traded around $109 per barrel on Monday but retained most of last week's gains amid escalating geopolitical tensions.
• Market concerns remain elevated after attacks involving Saudi Arabia, Iran-backed Houthi rebels, and damage to tankers in the Strait of Hormuz, a key global oil transit route.
• In Europe, Ukrainian attacks reportedly triggered fires at an oil export terminal and storage facility in St. Petersburg, while Russia and Ukraine continued large-scale attacks.
• Crude markets remain focused on potential supply disruptions from both the Middle East and Eastern Europe.

• US benchmark indices ended lower on Friday, with the Nasdaq Composite falling 2.15%, the S&P 500 declining 1.09%, and the Dow Jones Industrial Average slipping 0.34%.
• The weakness in technology stocks weighed on broader market sentiment, dragging major US indices lower.

-- Asian markets were mixed ahead of China’s Q3 GDP data

-- Japan’s Nikkei 225 was down 2.26%

-- Topix fell 1.25%

-- Kopsi tumbled 1.56%

-- ASX 200, bucking the trend, rose 0.3%.

-- BSE Sensex ended at 74,729.27 levels, up 413.66 points or 0.56%.

-- Nifty 50 closed at 23,146.15 levels, up 0.65% or 148.80 points.

Welcome to our live coverage of the Indian stock markets. Sensex and Nifty 50 are set to track mixed global cues, geopolitical developments and movements in crude oil prices, with investors also eyeing Q2 earnings from key companies, including Bajaj Finance, Hindustan Zinc and UltraTech Cement.