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India Stock Market Recap
The Indian stock market continued selloff on Thursday, with both the benchmark indices, Sensex and Nifty 50 falling around 2% each, as rising crude oil prices spooked investors, who also remained cautious over the Reserve Bank of India's (RBI) repo rate hike, rising US Treasury yields and escalating geopolitical tensions.
The Sensex crashed 1,045.46 points, or 1.44%, to close at 71,593.24 on Thursday, while the Nifty 50 settled 371.25 points, or 1.64%, lower at 22,231.80. The Bank Nifty index slumped 540.50 points, or 0.98%, to end at 54,515.05.
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Earnings
TCS Q2 Results
- Net profit at Rs 13,884 crore vs estimate of Rs 13,788 crore
- Revenue at Rs 73,188 crore vs estimate of Rs 73,026 crore
- EBIT at Rs 17,553 crore vs estimate of Rs 17,805 crore
- EBIT margin at 24% vs estimate of 24.38%
- Net profit up 4% at Rs 13,884 crore vs Rs 13,349 crore QoQ
- Revenue up 1.3% at Rs 73,188 crore vs Rs 72,275 crore QoQ
- EBIT up 1.4% at Rs 17,553 crore vs Rs 17,317 crore QoQ
- EBIT margin at 24% vs 23.95% QoQ
- To pay interim dividend of Rs 12/share
- Sets record date for dividend on Oct 14
- Total contract value at $9.6 billion
- IT Services 12-month attrition at 13.3%
- CC growth at 0.5% vs 0.5 to 0.8% expectation
Business Updates
JSW Steel Q2 Biz Update
- Overall production up 5% at 7.27 MT YoY
- India production up 5% at 7.07 MT YoY
- Overall production up 10%; India up 11% QoQ
SML Mahindra September Biz Update
- CV production up 19.8% at 1,257 units YoY
- CV sales up 32% at 1,071 units YoY
- CV exports grew 160% YoY to 138 units
IRB Infra September Biz Update
- Gross toll collection up 24% at Rs 773 crore YoY
- Toll revenue of IRB's 100% subsidiaries grows 17% on a like-for-like basis
- Sept 2026 toll revenue reflects healthy traffic growth
- Navaratri, Diwali & holiday season to support continued traffic growth
PN Gadgil Q2 Biz Update
- Q2 revenue growth at 22.4% YoY
- Retail segment grew 31.1% YoY
- Franchise business grew 34.7% YoY
- Rakhi sales witnessed strong growth of 114%
- Opened 2 new stores in Q2
- Same-store sales growth at 25.5% YoY
- On track to open further 23 new stores during FY27
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Stocks In News
Orkla India
MTR launches 8 products in its sweets portfolio
PNC Infra
Incorporates arm 'PNC Infratech (Kazakhstan)'
Dr Reddy's
- USFDA issues 2 observations to Pydibhimavaram unit
- US FDA inspection conducted from Oct 5 to 7
Pitti Engineering
- GST officials initiate inspection at Maharashtra manufacturing unit
- Inspection/search proceeding is underway
- Company extending full cooperation to state GST officials
VRL Logistics
To buyback 87.5 Lk shares worth Rs 280 crore up to Rs 320/share
IKIO Tech
- Arm enters vendor exclusivity undertaking with Danube Home LLC
- Alert: Arm is Royalux FZCO
Supriya Lifescience
- Files petition before Supreme Court in connection with Sept 23 matter
- Matter is sub judice and pending consideration before Supreme Court
Pace Digitek
- Gets Rs 179 crore order from BSES Rajdhani Power
- Order for 57.5 MW / 115 MWh standalone BESS in Delhi
- Total executable order book exceeds Rs 11,500 crore
Hexaware Tech
- Announces multi-year partnership with Anthropic
- Becomes preferred partner in Claude Partner Network
- To bring Claude to core of two Hexaware platforms
NCC
- Gets Rs 1,286 crore order from Hyderabad Growth Corridor
- Order for Hyderabad road on NH-167N
- Construction time period of 18 months
Travel Food
- CFO Vikas Kapoor resigns from Oct 7
- Resignation due to personal career aspirations
ICRA
- Appoints Ritesh Gupta as Chief Business Officer-Designate
- L Shivakumar retires as Chief Business Officer
Steelcast
- Achieves IRIS certification
- Certification to enable entry into European rail-road industry market
Shakti Pumps
Invests Rs 10 crore in arm Shakti Energy Solutions
CMR Green
- Enhances credit facility to Rs 165 crore from Rs 148 crore
- Gets approval from Federal Bank for enhancement
Avalon Tech
- Executes lease deed for 25.1-acre land in TN
- To set up industrial unit at SIPCOT Industrial Park
Cummins India
Appoints Adegbile Adedapo Adewunmi as MD for 3 years
Isgec Heavy
- Issues Rs 61 crore letter of comfort in favour of company's JV
- Alert: JV is Isgec Titan Metal Fabricators
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Samvardhana Motherson
- Approves conversion of 1.45 Lk CCDs
- Allots 10.3 crore shares at Rs 140.5/share
Evonik Pharma (Novartis India)
Approves raising up to Rs 900 crore via rights issue
Waaree Renewable
- Gets LoA for 5 MWp grid-connected solar PV project
- Gets LoA from public sector undertaking
- Includes operation & maintenance for a period of 10 years
Polycab India
- Challenges NCLT insolvency admission order
- NCLT admits Rs 2.79 crore insolvency plea against company
- Moves NCLAT against CIRP admission
- NCLAT to hear Polycab insolvency appeal on Oct 9
KEC International
- Gets new orders worth Rs 1,030 crore across businesses
- T&D biz won order for 400 kV transmission line in Bhutan
- T&D biz won order for 380 kV transmission line in Saudi Arabia
- T&D biz won order for supply of towers, hardware and poles in the Americas
- Renewables biz secured an order for a 300+ MW wind project
- Cables & Conductors biz won various orders in India and overseas market
Lupin
- Gets USFDA nod for Phytonadione Injectable Emulsion
- Alert: Phytonadione Injectable is used to treat low blood clotting
Tilaknagar Industries
- Rajesh Choudhary resigns as CFO
- Resigns to pursue external career opportunities
Krsnaa Diagnostics
Gets in-principle nod from NSE, BSE to issue 16.2 Lk warrants convertible into shares
Jubilant Pharmova
- Arm to invest CAD 94.5 Mn to expand Kirkland unit
- Alert: Arm is Jubilant Draximage Inc
- Investment aimed to double production capacity of product 'RUBY-FILL'
Jaykay Enterprises
- Executes loan pact with arm to grant Rs 100 crore loan to arm
- Alert: Arm is JK Defence & Aerospace
Earnings Today
- Anand Rathi Wealth
- Can Fin Homes
- Canara Robeco Asset Management Company
- Poonawalla Fincorp
IPO Listing
- NA
IPO To Open
- NA
Bulk & Block Deals
ITC: GQG Partners Emerging Markets Equity Fund sold 3.65 crore shares, Fidelity Advisor Overseas Fund bought 1.34 crore shares, ICICI Prudential Mutual Fund bought 94.01 lakh shares, SBI Mutual Fund bought 37.60 lakh shares, Nippon India Mutual Fund bought 27.05 lakh shares, Citigroup Global Markets Singapore bought 22.09 lakh shares, Edelweiss Mutual Fund bought 9.71 lakh shares, Mirae Asset Mutual Fund bought 9.29 lakh shares, Ghisallo Master Fund bought 75.21 lakh shares, BNP Paribas Arbitrage bought 72.87 lakh shares, ICICI Prudential Life Insurance bought 62.17 lakh shares, Aditya Birla Sun Life Mutual Fund bought 37.60 lakh shares, Kotak Mahindra Mutual Fund bought 36.30 lakh shares, Bajaj Life Insurance bought 29.14 lakh shares, Morgan Stanley Asia Singapore bought 16.11 lakh shares, Alliance Witan sold 16.11 lakh shares, GQG Partners Emerging Markets Equity Fund sold 7.14 crore shares, Goldman Sachs Trust II Goldman Sachs GQG Partners Intl Opportunities Fund sold 19.40 crore shares at Rs 257.35/share.
Inox Green Energy: Setu Securities sold 25.25 Lk shares at Rs 111.97 per share, Sapphire Intrex sold 25.80 Lk shares at Rs 113.04 per share, Abhishek Khaitan sold 35.85 Lk shares at Rs 112.28 per share.
One Mobikwik Systems: Bank of India Small Cap Fund bought 4.48 Lk shares at Rs 240.48 per share.
Indegene: PI Opportunities AIF V LLP bought 20.18 Lk shares & Pioneer Investment Fund Scheme II sold 20.18 Lk shares at Rs 590 per share.
Kajaria Ceramics: PI Opportunities AIF V LLP bought 11.28 Lk shares & Pioneer Investment Fund Scheme II sold 11.28 Lk shares at Rs 1,211 per share.
ICICI Bank: PI Opportunities AIF V LLP bought 19.21 Lk shares & Pioneer Investment Fund Scheme II sold 19.21 Lk shares at Rs 1,343 per share.
Reliance Industries: PI Opportunities AIF V LLP bought 20.40 Lk shares & Pioneer Investment Fund Scheme II sold 20.40 Lk shares at Rs 1,176 per share.
SBI Life Insurance Co: PI Opportunities AIF V LLP bought 6.42 Lk shares & Pioneer Investment Fund Scheme II sold 6.42 Lk shares at Rs 1,671 per share.
Corporate Actions
Transport Corp of India - Buyback
Mold-Tek Packaging - 1:1 Bonus
Mold-Tek Technologies - 1:1 Bonus
Board Meeting
Canara HSBC Life Insurance Company - Fund raising
Lock In
Om Freight Forwarders: 6-month & beyond lock-in, 18 million shares, 53% of total outstanding
Insider Trades
- NA
ASM Framework
List of securities shortlisted in Short-Term ASM Framework Stage: India Glycols, Kanohar Electricals, Media Matrix Worldwide, One Mobikwik Systems, Advit Jewels
List of securities to be excluded from ASM Framework: Mukand
Price Band Changes
- NA
F&O Cues
Nifty Feb futures down 1.58% to 22,275.00 at a premium of 43 points
Nifty Options 3rd Feb expiry: Maximum call open interest at 23,000 and maximum put open interest at 21,000
Securities In Ban Period
Ambuja Cement
Bandhan Bank
LIC Housing Finance
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