Stock Market Live: Sensex Slips Over 600 Points, Nifty 50 Below 22,600; Infosys, Tech Mahindra, TCS, HCL Tech Top Losers

Infosys, Tech Mahindra, HCL Technologies, TCS and Tata Consumer Services were the top losers on the Nifty 50 index, while Larsen & Toubro (L&T), Bajaj Auto, SBI Life Insurance Company, SBI and Maruti Suzuki were the top index gainers.

• Waaree Energies reported Q2 consolidated net profit of Rs 719 crore, down 14.7% YoY from Rs 843 crore.
• Revenue increased 23.9% YoY to Rs 7,518 crore.
• EBITDA declined 5.1% YoY to Rs 1,335 crore.
• EBITDA margin contracted to 17.8% from 23.2% a year ago.

The Indian stock market opened lower. The Sensex opened 345.23 points, or 0.47%, lower at 73,253.44, while the Nifty 50 declined 71.75 points, or 0.32%, to open at 22,678.00. The Bank Nifty index dropped 181.65 points, or 0.34%, to open at 53,793.25.

• Schaeffler India reported Q2 consolidated net profit of Rs 349 crore, up 20.8% YoY from Rs 289 crore.
• Revenue rose 26.8% YoY to Rs 3,089 crore from Rs 2,437 crore.
• EBITDA increased 17.3% YoY to Rs 537 crore.
• EBITDA margin declined to 17.4% from 18.8% a year ago.

• Allied Blenders & Distillers reported Q2 net profit of Rs 71.5 crore, up 11.2% YoY from Rs 64.3 crore.
• Revenue increased 6.8% YoY to Rs 1,147.9 crore from Rs 990.1 crore.
• EBITDA rose 11% YoY to Rs 139.2 crore from Rs 125.4 crore.
• EBITDA margin stood at 12.1% compared with 12.7% a year ago.

• SBI Life Insurance reported Q2 net profit of Rs 549 crore, up 10.9% YoY from Rs 495 crore.
• Net premium income increased 8.2% YoY to Rs 26,877 crore from Rs 24,848 crore.
• The insurer's solvency ratio improved to 1.97 from 1.96 in the previous quarter.
• 13th-month persistency ratio improved to 85.82% from 84.35% QoQ, indicating better policy retention.
• 61st-month persistency ratio stood at 58.01%, compared with 59.1% in the previous quarter.
• The company reported steady growth in profitability and premium income, while maintaining a strong solvency position.
   

 

• L&T's Q2 order inflow rose 28% YoY to Rs 1.47 lakh crore.
• The company's consolidated order book stood at Rs 8.53 lakh crore as of Sept. 30, providing strong revenue visibility.
• Robust order inflows continue to support growth across infrastructure, energy and manufacturing businesses.

• Green Energy revenue increased 43% YoY to Rs 11,494 crore, while EBIT rose 37% to Rs 669 crore.
• Manufacturing & Products revenue grew 31% YoY to Rs 4,639 crore, with EBIT jumping 58% to Rs 610 crore.
• Conventional Energy revenue rose 28% YoY to Rs 17,289 crore, while Financial Services revenue increased 27% YoY to Rs 5,307 crore.

• Larsen & Toubro (L&T) reported Q2 net profit of Rs 5,202 crore, up 33% YoY from Rs 3,926 crore and ahead of the Street estimate of Rs 4,342 crore.
• Revenue rose 16% YoY to Rs 78,750 crore, beating estimates of Rs 73,303 crore.
• EBITDA stood at Rs 6,845 crore, slightly below estimates of Rs 6,999 crore.
• EBITDA margin came in at 8.7%, compared with 10% a year ago and below estimates of 9.54%.

• Jio Platforms IPO will list on BSE, NSE today, October 28, 2026.

• Jio Platforms' IPO was subscribed 21.36 times overall, according to the subscription data.  

• The QIB portion (excluding anchor investors) was subscribed 67.15 times, indicating strong institutional interest in the issue.

• The NII category saw subscription of 13.99 times, while the bNII segment (applications above Rs 10 lakh) was subscribed 15.88 times and the sNII segment (applications up to Rs 10 lakh) was subscribed 10.20 times.

• The retail investor portion was subscribed 2.76 times.

• The employee quota received 2.91 times subscription, while the shareholder category was subscribed 7.59 times.

• Strong demand from institutional investors and high-net-worth individuals drove the overall subscription momentum in the offering.

Welcome to our live coverage of the Indian stock market on Wednesday, October 28. The Sensex and Nifty 50 are likely to open lower, with GIFT Nifty signalling a gap-down start amid rising crude oil prices, geopolitical uncertainty and caution ahead of the US Federal Reserve’s interest rate decision later today.

Investors will track the Jio Platforms IPO listing, along with a busy Q2 earnings calendar featuring companies such as Vedanta, Hindustan Unilever, Hyundai Motor India, Hero MotoCorp, JSW Energy and TVS Motor Company.

Stay tuned for live market updates, key stock movements, corporate earnings and developments that could influence trading sentiment.