Stock Market Live: Sensex Zooms 2,100 Points, Nifty Atop 24,550; M&M Rallies 6% After Q2; Bajaj Finance Zooms 8%

IRB Infrastructure Developers reported an 84.4% year-on-year increase in consolidated net profit to Rs 260 crore in Q2, compared with Rs 141 crore in the year-ago period.

Revenue increased 8.3% to Rs 1,897 crore from Rs 1,751 crore. EBITDA rose 14.1% to Rs 1,055 crore from Rs 925 crore, while EBITDA margin expanded to 55.6% from 52.8%.

Electronics Mart India reported a consolidated net profit of Rs 40.2 crore in Q2, compared with Rs 16.1 crore in the year-ago period.

Revenue increased 19.4% year-on-year to Rs 1,900 crore from Rs 1,591 crore. EBITDA surged 82.2% to Rs 131 crore from Rs 71.6 crore, while EBITDA margin expanded to 6.9% from 4.5%.

• Tube Investments of India reported a 33.4% year-on-year increase in consolidated net profit to Rs 249 crore in Q2, compared with Rs 187 crore in the year-ago period.
• Revenue increased 32.7% to Rs 7,330 crore from Rs 5,523 crore.
• EBITDA rose 34.8% to Rs 734 crore from Rs 544 crore, while EBITDA margin improved marginally to 10% from 9.9%.

Apollo Tyres has appointed Ravi Kumar Shingari as its Chief Financial Officer (CFO).
 

• Sandhar Technologies reported a 23.7% year-on-year decline in consolidated net profit to Rs 56 crore in Q2, compared with Rs 73.4 crore in the year-ago period.
• Revenue increased 27.4% to Rs 1,618 crore from Rs 1,270 crore.
• EBITDA rose 16.25% to Rs 137 crore from Rs 118 crore, while EBITDA margin contracted to 8.5% from 9.3%.
• Other income declined to Rs 6.5 crore from Rs 37.3 crore in the corresponding quarter last year.

Electronics Mart India reported a consolidated net profit of Rs 40.2 crore in Q2, compared with Rs 16.1 crore in the year-ago period.

Revenue increased 19.4% year-on-year to Rs 1,900 crore from Rs 1,591 crore. EBITDA surged 82.2% to Rs 131 crore from Rs 71.6 crore, while EBITDA margin expanded to 6.9% from 4.5%.

Standard Engineering reported a 30.7% year-on-year increase in consolidated net profit to Rs 26.4 crore in Q2, compared with Rs 20.2 crore in the year-ago period.

Revenue grew 62.1% to Rs 297 crore from Rs 183 crore. EBITDA increased 74.2% to Rs 51.2 crore from Rs 29.4 crore, while EBITDA margin improved to 17.3% from 16.1% a year ago.

Nykaa will acquire an 82% stake in Simply Nam Beauty for Rs 33 crore.

Great Eastern Shipping has taken delivery of Kamsarmax vessel Jag Amit, with the acquisition of the 81,886 DWT vessel completed as planned in Q2FY27.
 

• RPSG Ventures reported a net profit of Rs 88.5 crore in Q2, compared with a loss of Rs 52 crore in the year-ago period.
• Revenue increased 22% year-on-year to Rs 3,243 crore from Rs 2,668 crore.
• EBITDA rose 41% to Rs 420 crore from Rs 297 crore, while EBITDA margin improved to 12.9% from 11.1%.

• Tonbo Imaging reported a consolidated net profit of Rs 23.5 crore in Q2, compared with a loss of Rs 9.6 crore in the year-ago period.
• Revenue stood at Rs 183 crore, compared with Rs 8.8 crore a year ago.
• EBITDA came in at Rs 44.6 crore, against a loss of Rs 3.8 crore in the corresponding quarter last year. EBITDA margin stood at 24.3%.

Mahindra & Mahindra (M&M) reported a 12.9% year-on-year increase in consolidated profit to Rs 5,102 crore in Q2, compared with Rs 4,521 crore in the year-ago period. Profit exceeded the estimate of Rs 4,545 crore.

Revenue grew 27.1% to Rs 42,477 crore from Rs 33,422 crore, beating the estimate of Rs 41,332 crore. EBITDA increased 2.1% to Rs 4,912 crore from Rs 4,810 crore, but fell short of the estimate of Rs 5,015 crore. EBITDA margin stood at 11.6%, below the year-ago level of 14.4% and the estimate of 12%.

Segment Performance

Automotive business revenue increased 36% year-on-year, while EBIT rose 15% to Rs 2,614 crore.

Farm equipment revenue grew 1% year-on-year to Rs 8,594 crore, while EBIT declined 14% to Rs 1,441 crore.

• CESC reported a 1.2% year-on-year decline in consolidated net profit to Rs 423 crore in Q2, compared with Rs 428 crore in the year-ago period.
• Revenue increased 6.5% to Rs 5,607 crore from Rs 5,267 crore.
• EBITDA declined 2.1% to Rs 1,039 crore from Rs 1,061 crore, while EBITDA margin contracted to 18.5% from 20.1%.
• Tax expenses increased to Rs 148 crore from Rs 121 crore in the corresponding quarter last year.

• Max Estates reported a 39.7% year-on-year decline in net profit to Rs 4.7 crore in Q2, compared with Rs 7.8 crore in the year-ago period.
• Revenue grew 8.2% to Rs 52.8 crore from Rs 48.8 crore.
   

Campus Activewear reported a 21.3% year-on-year increase in net profit to Rs 24.3 crore in Q2, compared with Rs 20.1 crore in the year-ago period.

Revenue grew 16.9% to Rs 452 crore from Rs 387 crore. EBITDA increased 13.9% to Rs 56.8 crore from Rs 49.9 crore, while EBITDA margin contracted to 12.6% from 12.9%.

• Uno Minda reported a 38.2% year-on-year increase in consolidated net profit to Rs 420 crore in Q2, compared with Rs 304 crore in the year-ago period.
• Revenue grew 38.2% to Rs 6,655 crore from Rs 4,814 crore.
• EBITDA increased 32.9% to Rs 733 crore from Rs 551 crore, while EBITDA margin contracted to 11% from 11.5%.

• Gujarat Alkalies reported a consolidated net profit of Rs 82.6 crore in Q2, compared with Rs 16.3 crore in the year-ago period.
• Revenue increased 25.4% year-on-year to Rs 1,358 crore from Rs 1,083 crore.
• EBITDA more than doubled to Rs 170 crore from Rs 73.8 crore, while EBITDA margin expanded to 12.5% from 6.8%.

• Juniper Hotels reported a consolidated net profit of Rs 37.2 crore in Q2, compared with Rs 16.8 crore in the year-ago period.
• Revenue increased 8.5% year-on-year to Rs 250 crore from Rs 230 crore. EBITDA was nearly flat at Rs 82.5 crore, compared with Rs 82.8 crore a year ago.
• EBITDA margin contracted to 33.1% from 36%.

• Aurobindo Pharma reported a 32.7% year-on-year increase in net profit to Rs 1,126 crore in Q2, compared with Rs 848 crore in the year-ago period.
• Revenue grew 23.9% to Rs 10,263 crore from Rs 8,286 crore.
• EBITDA increased 28.5% to Rs 2,156 crore from Rs 1,678 crore, while EBITDA margin improved to 21% from 20.3%.
• The company will pay an interim dividend of Rs 7 per share.
   

• Websol Energy reported a 73.2% year-on-year increase in net profit to Rs 80.2 crore in Q2, compared with Rs 46.3 crore in the year-ago period.
• Revenue stood at Rs 361 crore against Rs 168.2 crore. 
• EBITDA increased 77.4% to Rs 128.1 crore from Rs 72.2 crore, while EBITDA margin declined to 35.5% from 42.9%.
   

• Juniper Hotels reported a consolidated net profit of Rs 37.2 crore in Q2, compared with Rs 16.8 crore in the year-ago period.
• Revenue increased 8.5% year-on-year to Rs 250 crore from Rs 230 crore.
• EBITDA was nearly flat at Rs 82.5 crore, compared with Rs 82.8 crore a year ago. EBITDA margin contracted to 33.1% from 36%.

Kaushik Srinivasan of eMudhra told NDTV Profit that the company expects FY27 revenue to be around Rs 825 crore and aims to double its bottomline over the next three years.

He said emerging markets such as Nigeria are performing well, with the company beginning to see new pockets of growth across markets. Demand is gaining traction in user identity management solutions, while enterprise products and data privacy are also showing positive momentum.

Srinivasan said the company does not expect any long-term impact from the cyber incident. He added that the team is being briefed on security measures.

The company is also exploring the use of artificial intelligence to improve productivity, but is proceeding with caution.

• PI Industries reported a 70.1% year-on-year decline in net profit to Rs 122 crore in Q2, compared with Rs 409 crore in the year-ago period.
• Revenue declined 9.1% to Rs 1,702 crore from Rs 1,872 crore.
• EBITDA fell 57% to Rs 232.7 crore from Rs 541.3 crore, while EBITDA margin contracted to 13.7% from 28.9%.
   

Goldiam International has opened its 29th retail store for lab-grown diamond jewellery in Visakhapatnam (Vizag), Andhra Pradesh, according to an exchange filing.

• Ellenbarrie Industrial reported a 3% year-on-year decline in net profit to Rs 35.6 crore in Q2, compared with Rs 36.7 crore in the year-ago period.
• Revenue grew 28.1% to Rs 114.3 crore from Rs 89.2 crore.
• EBITDA increased 19.6% to Rs 40.2 crore from Rs 33.6 crore, while EBITDA margin declined to 35.2% from 37.7%.
   

• Hester Bio reported a 40.7% year-on-year increase in consolidated net profit to Rs 20.4 crore in Q2, compared with Rs 14.5 crore in the year-ago period.
• Revenue grew 37.9% to Rs 97.9 crore from Rs 71 crore.
• EBITDA surged to Rs 32.6 crore from Rs 11.2 crore, while EBITDA margin expanded to 33.3% from 15.8% a year ago.

Knowledge Marine said it has completed the acquisition of TSHD River Pearl 48, a trailing suction hopper dredger, for Rs 250 crore, according to an exchange filing.

LG Electronics India reported a 25.7% year-on-year increase in net profit to Rs 489 crore in Q2, compared with Rs 389 crore in the year-ago period.

Revenue grew 19.5% to Rs 7,380 crore from Rs 6,174 crore, while EBITDA increased 28.2% to Rs 701 crore from Rs 547 crore. EBITDA margin improved to 9.5% from 8.9% a year ago.

The company also announced plans to enter the vehicle solutions business.

Tata Power Renewable, a subsidiary of Tata Power, has commissioned a 300 MW project for the Solar Energy Corporation of India (SECI) in Karnataka, according to an exchange filing.

• Shiprocket reported a consolidated net profit of Rs 6 crore in Q2, compared with a loss of Rs 20.3 crore in the year-ago period.
• Revenue increased 34.8% year-on-year to Rs 674 crore from Rs 500 crore.
• EBITDA loss narrowed to Rs 2.3 crore from Rs 20.3 crore a year ago.

Amagi Media Labs reported a consolidated net profit of Rs 74.8 crore in Q2, compared with Rs 2.5 crore in the year-ago period.

Revenue increased 27% year-on-year to Rs 476 crore from Rs 375 crore. EBITDA stood at Rs 63.7 crore, compared with a loss of Rs 3.4 crore a year ago. EBITDA margin came in at 13.4%.

• CESC reported a 1.2% year-on-year decline in consolidated net profit to Rs 423 crore in Q2, compared with Rs 428 crore in the year-ago period.
• Revenue increased 6.5% to Rs 5,607 crore from Rs 5,267 crore. EBITDA declined 2.1% to Rs 1,039 crore from Rs 1,061 crore, while EBITDA margin contracted to 18.5% from 20.1%.
• Tax expenses increased to Rs 148 crore from Rs 121 crore in the corresponding quarter last year.

Ramesh Swaminathan of Lupin told NDTV Profit that the company expects to maintain EBITDA margins at 23-24% over the next two to three years. He said Lupin expects greater competition for some products going ahead but continues to work on several new product launches.

Swaminathan said the company is continuing its work on semaglutide and remains bullish on its overall GLP-1 portfolio.

He added that the Europe business is performing well, with the UK-based VISUfarma reporting impressive growth. The company may see some consolidation before returning to further growth.

Premier Energies said its expansion plans, including battery storage, are progressing as scheduled. The company expects to operationalise its battery storage plan in Q2CY27.

Management expects a major financial step-up over the next few quarters and said the build-up in raw materials is expected to normalise by March. The company remains hopeful of navigating challenges arising from China's restrictions.

NHPC reported a 51.7% year-on-year increase in profit to Rs 1,549 crore in Q2, compared with Rs 1,021 crore in the year-ago period.

Revenue grew 33.2% to Rs 4,483 crore from Rs 3,365 crore.

EBITDA increased 42% to Rs 2,876 crore from Rs 2,026 crore, while EBITDA margin improved to 64.2% from 60.2%.
 

The government is exploring a range of financial incentives to promote sustainable aviation fuel (SAF), including fiscal and taxation relaxations, according to official sources.

The proposed measures could include GST exemptions or reductions, import duty waivers and income-tax holidays. The government is also considering leveraging existing schemes while deliberating on new initiatives to support the development of the SAF ecosystem.

Incentives are likely to be considered for both oil marketing companies (OMCs) and airlines, with the aim of encouraging SAF production, procurement and adoption.

• eMudhra reported a 2.2% quarter-on-quarter increase in net profit to Rs 32.8 crore in Q2, compared with Rs 32.1 crore in the previous quarter.
• Revenue grew 8.4% to Rs 207 crore from Rs 191 crore.
• EBIT declined 0.5% to Rs 38 crore from Rs 38.2 crore, while EBIT margin contracted to 18.4% from 20%.
   

• Afcons Infrastructure reported a 60.8% year-on-year decline in net profit to Rs 41.3 crore in Q2, compared with Rs 105.4 crore in the year-ago period.
• Revenue declined 11.8% to Rs 2,635 crore from Rs 2,988 crore.
• EBITDA fell 72.1% to Rs 91.7 crore from Rs 328.6 crore, while EBITDA margin contracted to 3.5% from 11%.
   

• Kansai Nerolac reported an 8.5% year-on-year increase in net profit to Rs 146 crore in Q2, compared with Rs 135 crore in the year-ago period.
• Revenue grew 18.6% to Rs 2,317 crore from Rs 1,954 crore.
• EBITDA increased 4.1% to Rs 224 crore from Rs 215 crore, while EBITDA margin declined to 9.7% from 11%.
   

• GR Infraprojects reported a 52% year-on-year increase in net profit to Rs 293 crore in Q2, compared with Rs 193 crore in the year-ago period.
• Revenue grew 45.1% to Rs 2,325 crore from Rs 1,602 crore. 
• EBITDA increased 11.9% to Rs 433 crore from Rs 387 crore, while EBITDA margin contracted to 18.6% from 24.2%.
   

• Shipping Corporation of India reported revenue growth of 71.1% year-on-year to Rs 2,291 crore in Q2, compared with Rs 1,339 crore in the year-ago period.
• Net profit rose to Rs 578 crore from Rs 189 crore.
• EBITDA stood at Rs 903 crore against Rs 406 crore, while EBITDA margin improved to 39.4% from 30.3%. 
• The company will pay an interim dividend of Rs 4 per share.
   

• PDS reported a 41.3% year-on-year increase in net profit to Rs 42.4 crore in Q2, compared with Rs 30 crore in the year-ago period.
• Revenue grew 29.6% to Rs 4,432 crore from Rs 3,419 crore.
• EBITDA increased 49.2% to Rs 153 crore from Rs 102 crore, while EBITDA margin improved to 3.4% from 3%.
• The company will pay an interim dividend of Rs 2.2 per share.
   

• Balkrishna Industries reported a 7.1% year-on-year increase in net profit to Rs 293 crore in Q2, compared with Rs 273 crore in the year-ago period.
• Revenue grew 45% to Rs 3,472 crore from Rs 2,394 crore.
• EBITDA increased 23.9% to Rs 633.3 crore from Rs 511.2 crore, while EBITDA margin contracted to 18.2% from 21.4%.
• The company will pay a second interim dividend of Rs 4 per share.
   

• SKF India reported a 33.8% year-on-year increase in net profit to Rs 103 crore in Q2, compared with Rs 77 crore in the year-ago period.
• Revenue grew 28.3% to Rs 1,043 crore from Rs 813 crore.
• EBITDA declined 6.9% to Rs 101 crore from Rs 108 crore, while EBITDA margin contracted to 9.6% from 13.3%.
   

• Premier Energies reported a 29.6% year-on-year increase in net profit to Rs 458 crore in Q2, compared with Rs 353.4 crore in the year-ago period.
• Revenue grew 43.3% to Rs 2,632 crore from Rs 1,837 crore.
• EBITDA increased 31.2% to Rs 736 crore from Rs 561 crore, while EBITDA margin declined to 28% from 30.5%.
   

Gujarat Pipavav reported a 5% year-on-year decline in net profit to Rs 153 crore in Q2, compared with Rs 161 crore in the year-ago period.

Revenue grew 13.4% to Rs 339 crore from Rs 299 crore.

EBITDA increased 19.3% to Rs 212 crore from Rs 177.4 crore, while EBITDA margin improved to 62.4% from 59.3%.

The company will pay an interim dividend of Rs 3 per share.
 

• JM Financial reported a 17.8% quarter-on-quarter decline in net profit to Rs 240 crore in Q2, compared with Rs 292 crore in the previous quarter.
• Total income declined 13.8% to Rs 1,056 crore from Rs 1,225 crore.
• The company will pay an interim dividend of Rs 1.65 per share.
   

• Somany Ceramics reported revenue growth of 25.6% year-on-year to Rs 860.6 crore in Q2, compared with Rs 685.2 crore in the year-ago period.
• EBITDA stood at Rs 133.6 crore against Rs 55.6 crore, while EBITDA margin improved to 15.5% from 8.1%.
• Net profit rose to Rs 41.5 crore from Rs 15 crore.
• The company will pay an interim dividend of Rs 6 per share.
   

Trinh Nguyen told NDTV Profit that India has been impacted by the Iran war and elevated crude oil prices. However, falling crude prices have improved market sentiment, while Democrats' victory in the US midterm elections has emerged as a key tailwind. She noted that the war has been unpopular in the US.

Nguyen said the AI build-up in Asia has benefited South Korea's market, while the AI theme could cool down but is unlikely to disappear. She added that AI-related headcount reductions and concerns over a potential bubble have weighed on sentiment in the technology sector.

On India, she said the country could see improved foreign flows and risk appetite. The rupee remains a crucial factor for foreign investor flows, although India currently has significant offshore liquidity. She added that markets appear confident about India's ability to manage the rupee.

Nguyen said buying stocks at expensive valuations is not necessarily a concern, pointing to US investors continuing to buy despite high valuations. Structural strength is more important than valuations, she said, adding that India's technology cycle appears highly cyclical, while its macroeconomic fundamentals and earnings are expected to continue growing.

PhysicsWallah reported revenue growth of 18.2% year-on-year to Rs 1,242 crore in Q2, compared with Rs 1,051 crore in the year-ago period.

EBITDA increased 53.1% to Rs 276 crore from Rs 180.3 crore, while EBITDA margin improved to 22.2% from 17.2%.

Net profit stood at Rs 146 crore against Rs 72 crore a year ago.
 

• Chalet Hotels reported a 39.4% year-on-year increase in net profit to Rs 216 crore in Q2, compared with Rs 155 crore in the year-ago period.
• Revenue declined 31.7% to Rs 502 crore from Rs 735 crore.
• EBITDA fell 27.1% to Rs 218 crore from Rs 299 crore, while EBITDA margin improved to 43.4% from 40.7%.
   

• GMM Pfaudler reported a 16.3% year-on-year decline in net profit to Rs 33.3 crore in Q2, compared with Rs 39.8 crore in the year-ago period.
• Revenue grew 18% to Rs 1,065 crore from Rs 902 crore.
• EBITDA declined 9.5% to Rs 110.1 crore from Rs 121.6 crore, while EBITDA margin contracted to 10.3% from 13.5%.
   

• Interarch Building Products reported a 3.1% year-on-year decline in net profit to Rs 31 crore in Q2, compared with Rs 32 crore in the year-ago period.
• Revenue grew 2.9% to Rs 505 crore from Rs 491 crore.
• EBITDA was flat at Rs 41.2 crore, while EBITDA margin stood at 8.2% against 8.4% a year ago.
   

• Aptus Value Housing Finance reported a marginal 0.6% year-on-year decline in net profit to Rs 201 crore in Q2, compared with Rs 202 crore in the year-ago period.
• Total income grew 4.7% to Rs 436 crore from Rs 416 crore.
   

• Torrent Power reported a 13.3% year-on-year increase in net profit to Rs 820 crore in Q2, compared with Rs 724 crore in the year-ago period.
• Revenue grew 24.4% to Rs 9,802 crore from Rs 7,876 crore.
• EBITDA increased 15.5% to Rs 1,739 crore from Rs 1,506 crore, while EBITDA margin declined to 17.7% from 19.1%.
   

EPL reported a 5.8% year-on-year increase in net profit to Rs 110 crore in Q2, compared with Rs 104 crore in the year-ago period.

Revenue grew 29.9% to Rs 1,567 crore from Rs 1,206 crore. 

EBITDA increased 13.9% to Rs 287 crore from Rs 252 crore, while EBITDA margin declined to 18.3% from 20.9%.
 

• Swan Corp reported a net profit of Rs 507 crore in Q2, compared with a net loss of Rs 3.8 crore in the year-ago period.
• Revenue declined 8.1% year-on-year to Rs 1,046 crore from Rs 1,138 crore. 
• EBITDA reported a loss of Rs 4.5 crore against a profit of Rs 5 crore a year ago.
   

• Kirloskar Oil Engines reported a 19% year-on-year decline in net profit to Rs 131.5 crore in Q2, compared with Rs 162.5 crore in the year-ago period.
• Revenue grew 17% to Rs 2,284 crore from Rs 1,951 crore. 
• EBITDA declined 11.7% to Rs 338 crore from Rs 382 crore, while EBITDA margin contracted to 14.8% from 19.6%.
   

Aurobindo Pharma reported its highest-ever quarterly revenue of Rs 10,263 crore in Q2. The company expects double-digit revenue growth in FY27 and is targeting an EBITDA margin of 21% for the year, with its long-term margin expectation at 22%.

The company spent $89 million on capex in Q2 and had cash reserves of $189 million. It launched 10 new products in the US during the quarter and has completed the acquisition of Lannett, which is expected to strengthen its presence in the US market.

Management said US growth will be supported by the successful integration of Lannett. Going ahead, the company will focus on monetising its US business and sustaining profitability through an improved product mix.

• IRCON International reported a 25.9% year-on-year decline in net profit to Rs 103 crore in Q2, compared with Rs 139 crore in the year-ago period.
• Revenue grew 14.9% to Rs 2,272 crore from Rs 1,977 crore.
• EBITDA increased 68.3% to Rs 239 crore from Rs 142 crore, while EBITDA margin improved to 10.5% from 7.2%.
   

The Indian rupee appreciated over 30 paise in opening trade, gaining 0.34% to trade at 94.33 against the US dollar.

Orkla India reported an 18.7% year-on-year increase in net profit to Rs 91.4 crore in Q2, compared with Rs 77 crore in the year-ago period.

Revenue grew 19.4% to Rs 776 crore from Rs 650 crore.

EBITDA increased 17.6% to Rs 125.2 crore from Rs 106.5 crore, while EBITDA margin stood at 16.1% against 16.4% a year ago.
 

• Pricol reported a 32.8% year-on-year increase in net profit to Rs 85 crore in Q2, compared with Rs 64 crore in the year-ago period.
• Revenue grew 34.7% to Rs 1,356 crore from Rs 1,007 crore.
• EBITDA increased 29.7% to Rs 153 crore from Rs 118 crore, while EBITDA margin stood at 11.3% against 11.7% a year ago.
   

Binance said it will reopen withdrawals for more assets from 04:00 UTC on November 5.
 

China has blocked SoftBank’s proposed takeover of ABB’s robotics unit, the Financial Times reported

• David Roche told NDTV Profit that inflation is expected to moderate going forward, but markets remain surrounded by multiple risks.
• He cautioned that markets could get ahead of themselves.
• Roche said US President Donald Trump would use his veto and seek support from Democrats.
• He added that Trump could have pushed the world into immense economic pain, while investors now believe the Iran war will end soon.

Coinbase said it has not been impacted by the reported incident involving Binance. The cryptocurrency exchange added that customer funds remain unaffected.
 

UBS has cut around 200 jobs in London, including positions in its investment banking division, according to reports.

House Democratic Leader Hakeem Jeffries said Democrats would introduce a bill to stop President Donald Trump's tariffs and end the Iran war. He also called for reversing Medicaid cuts and extending Affordable Care Act tax credits.

Jeffries said Katherine Clark would be the next House Majority Leader and predicted that Democrats would win at least 255 seats in the House.

• Navneet Education reported a net loss of Rs 4 crore in Q2, compared with a net profit of Rs 141 crore in the year-ago period.
• Revenue declined 58.9% year-on-year to Rs 324 crore from Rs 788 crore.
• EBITDA fell 94.4% to Rs 11 crore from Rs 198 crore, while EBITDA margin contracted to 3.4% from 25.1%.
   

Dr Lal PathLabs reported broad-based growth in patient and sample volumes, with patient volumes increasing 9% year-on-year to 9 million and sample volumes rising 13.6% to 28.8 million. Revenue per patient improved to Rs 976 from Rs 889 a year ago, supported by a better test mix and pricing benefits.

The company attributed margin improvement to operating leverage from higher volumes, a better test mix and ongoing cost optimisation initiatives. Management expects long-term volume growth of 6-7% and realisation growth of another 6-7%, while continuing to target sustainable mid-teen organic revenue growth.

For FY27, management now expects high-teen revenue growth, with the first half running ahead of plan. EBITDA margin is expected to be slightly higher than FY26.

Acquisitions And Expansion

Dr Lal PathLabs completed the acquisition of SN Gene Lab in August. The business contributes around Rs 60 crore in revenue and Rs 15 crore in EBITDA, and adds genomics capabilities and in-house research and development. Q2 results include only a partial contribution from the acquisition.

South India contributes around 6% of revenue. The company is evaluating acquisition opportunities in the region while continuing organic expansion in large urban clusters.

The company has also completed its acquisition in Ghana and incorporated a joint venture in Uzbekistan, where operations are expected to start soon. International business currently contributes less than 5% of revenue and is expected to remain below that level over the next two to three years. Management is targeting meaningful scale over a period of more than five years.

Pricing Strategy

The company has not implemented any major price hikes in nearly four years, with its strategy focused on gaining market share from unorganised players. Future price increases remain possible if inflation rises or industry pricing moves higher, although management expects any long-term price hikes to remain below inflation.

• Apple has reduced internal AI usage budgets as it looks to rein in spending, according to reports.
• The company lowered the daily AI usage cap for some engineers to $200 from $300 and is planning further cuts to employees' AI usage limits.
   

• Lenskart reported a 35.7% year-on-year increase in revenue to Rs 2,845 crore in Q2, compared with Rs 2,096 crore in the year-ago period.
• EBITDA grew 50% to Rs 621.8 crore from Rs 414.6 crore, while EBITDA margin improved to 21.9% from 19.8%.
• Net profit stood at Rs 227 crore against Rs 102 crore a year ago.
   

• Qualcomm reported Q4 adjusted revenue of $10.44 billion, ahead of the estimated $10.12 billion. Adjusted earnings per share stood at $2.17, compared with estimates of $2.16.
• For Q1, the company expects adjusted revenue of $10.4 billion to $11.2 billion, against estimates of $10.55 billion. Adjusted EPS is projected at $2.15 to $2.35, compared with estimates of $2.32.
• Qualcomm reported full-year capital expenditure of $2.49 billion, above the estimate of $1.86 billion.

Google expanded its voluntary buyout programme to employees in five countries in June, Reuters reported in an exclusive report.

The programme appears to exclude key artificial intelligence and cloud businesses, including DeepMind. The move comes as parent Alphabet seeks to manage costs amid heavy investment in AI.

Coca-Cola Consolidated reported Q3 net sales of $1.99 billion, up 5.4% year-on-year. Income from operations increased 10% to $271.6 million, while earnings per share stood at $2.64.

The company continues to expect full-year capital expenditure of around $300 million.

OpenAI has launched Images 2.6, making the new image-generation model available across ChatGPT, Codex and its API.

• The Bank of Japan (BOJ) released the minutes of its September policy meeting. One member said the central bank may need to quicken the pace of rate hikes if prices deviate from its target.
• A member also said there has been a shift in the phase of monetary policy and that the BOJ should continue to act in a timely manner.
• Several members said it was difficult to identify the neutral interest rate, while one said it would be desirable to bring the policy rate closer to the goal soon.

US President Donald Trump said he could work with Democrats on what he described as “financial ideas”, adding that such proposals would be “mutually good”, CNBC reported.

Narayana Hrudayalaya said the Bengaluru Bench of the National Company Law Tribunal (NCLT) has approved the merger of its subsidiary, NH Integrated Care, with the company, according to an exchange filing.

Tenneco Clean Air India reported a 15% year-on-year increase in consolidated net profit to Rs 173 crore in Q2, compared with Rs 150 crore in the year-ago period.

Revenue grew 34.2% to Rs 1,718 crore from Rs 1,281 crore. EBITDA increased 20.66% to Rs 262 crore from Rs 217 crore, while EBITDA margin contracted to 15.2% from 16.9%.

• Brigade Enterprises has entered into an agreement with the International Finance Corporation (IFC) to invest in eligible middle-income housing projects.
• The company's arm, Venusta Ventures, has proposed to issue non-convertible debentures (NCDs) to IFC, according to an exchange filing.

• BSE reported a 7.4% quarter-on-quarter decline in net profit to Rs 809 crore in Q2, compared with Rs 874 crore in the previous quarter.
• Revenue declined 8.5% to Rs 1,433 crore from Rs 1,566 crore. 
• EBITDA fell 8.2% to Rs 984 crore from Rs 1,072 crore, while EBITDA margin stood at 68.7% against 68.5% in the previous quarter.
   

• Tenneco Clean Air India has appointed Arvind Gautam as Managing Director of its arm, Tenneco Automotive India, with effect from November 5.
• R C Subramaniam has resigned as Managing Director of the arm, effective November 4, according to an exchange filing.

• Cummins India reported an 18.5% year-on-year decline in consolidated net profit to Rs 507 crore in Q2, compared with Rs 622 crore in the year-ago period.
• Revenue grew 4.1% to Rs 3,301 crore from Rs 3,170 crore.
• EBITDA declined 27.1% to Rs 506 crore from Rs 695 crore, while EBITDA margin contracted to 15.3% from 21.9%.

• JK Lakshmi Cement reported a 74.6% year-on-year decline in net profit to Rs 20.55 crore in Q2, compared with Rs 80.9 crore in the year-ago period.
• Revenue grew 5.5% to Rs 1,617 crore from Rs 1,532 crore.
• EBITDA declined 26.1% to Rs 154 crore from Rs 209 crore, while EBITDA margin contracted to 9.5% from 13.6%.
   

• Apollo Tyres reported a 13.3% year-on-year increase in net profit to Rs 292.2 crore in Q2, compared with Rs 258 crore in the year-ago period.
• Revenue grew 16.6% to Rs 7,968 crore from Rs 6,831 crore. 
• EBITDA declined 16.2% to Rs 855 crore from Rs 1,021 crore, while EBITDA margin contracted to 10.7% from 14.9%.
   

• Nykaa reported revenue growth of 28.1% year-on-year to Rs 3,006 crore in Q2, compared with Rs 2,346 crore in the year-ago period.
• EBITDA increased 65.6% to Rs 263 crore from Rs 159 crore, while EBITDA margin improved to 8.7% from 6.8%. 
• Net profit stood at Rs 101 crore against Rs 34 crore a year ago.
   

• Dabur reported an 11.7% year-on-year increase in net profit to Rs 506 crore in Q2, compared with Rs 453 crore in the year-ago period. The figure was above the estimated Rs 498 crore.
• Revenue grew 11.7% to Rs 3,563 crore from Rs 3,191 crore, against estimates of Rs 3,553 crore. EBITDA increased 7.7% to Rs 633 crore from Rs 588 crore, below the estimated Rs 640 crore.
• EBITDA margin stood at 17.8% against estimates of 18%, compared with 18.4% a year ago.
• The company will pay an interim dividend of Rs 3.5 per share.
   

• Apollo Hospitals reported a 32.1% year-on-year increase in net profit to Rs 630 crore in Q2, compared with Rs 477 crore in the year-ago period. Profit was slightly above the estimated Rs 627 crore.
• Revenue grew 23% to Rs 7,615 crore from Rs 6,189 crore, beating estimates of Rs 7,471 crore.
• EBITDA increased 28.8% to Rs 1,191 crore from Rs 925 crore, against estimates of Rs 1,162 crore.
• EBITDA margin improved to 15.6% from 14.9%, in line with estimates.
   

• Brokerages remain constructive on Endurance Technologies' medium-term growth prospects, with Axis Capital upgrading the stock to Add from Reduce. Kotak Institutional Equities maintained Add, while Goldman Sachs retained its Neutral rating.
• Axis Capital raised its target price to Rs 2,750 from Rs 2,700, citing strong medium-term business prospects. It said the company's India business continues to secure new orders across product segments. Execution of orders in the four-wheeler and non-automotive segments could help it outperform industry growth over the next three years.
• Kotak maintained Add but cut its target price to Rs 2,825 from Rs 3,000. It highlighted stricter safety regulations and expansion into four-wheelers and EV components as drivers of multi-year growth. The company's 2.0 strategy also targets aerospace, defence and other non-automotive opportunities. However, commodity pressures may delay margin recovery.
• Goldman Sachs maintained Neutral and lowered its target price to Rs 2,650 from Rs 3,090. It expects meaningful margin recovery in FY28 as greenfield expansion start-up costs moderate. However, higher depreciation, financing costs and raw-material pressures have prompted it to cut FY27-FY29 earnings estimates.

 

Britannia Industries is expected to report a 12% year-on-year increase in consolidated revenue to Rs 5,443 crore in Q2FY27, compared with Rs 4,841 crore in the year-ago period. Net profit is estimated to rise 10% to Rs 720 crore from Rs 654 crore.

EBITDA may increase 6% to Rs 1,018 crore from Rs 954 crore, while EBITDA margin is expected to contract to 18.7% from 19.7%.

What to expect: Volumes are expected to grow 8-10%, while pricing growth may be around 5%. Gross margins are likely to remain flat, with the premium category expected to outperform.

Key things to watch: Margin protection and volume growth despite price hikes.

Oil prices continued to decline on Thursday, with Brent crude hovering below the $95-per-barrel mark after plunging nearly 9% in the previous session to hit a two-month low.

Growing hopes of a possible de-escalation in the US-Iran conflict, following the Democratic Party's strong performance in the US midterm elections, have eased concerns over global oil supplies.

Asian markets traded mixed on Thursday. Japan's Nikkei 225 fell 0.2% after rising in early trade, while South Korea's Kospi declined 2.95%.

Meanwhile, Australia's ASX 200 and New Zealand's NZX 50 advanced 1.94% and 1.99%, respectively.

US indices ended firmly in the green on Wednesday. The Dow Jones Industrial Average surged 3.03%, gaining 1,569 points to hit a two-month high. The S&P 500 and Nasdaq Composite advanced 1.58% and 1.44%, respectively.

Consumer discretionary, financial and real estate stocks led the gains on Wall Street, while energy and industrial shares lagged.

Welcome to the live coverage of the Indian stock market. Track all the key developments on Dalal Street today, including Sensex and Nifty movements, sectoral trends, top gainers and losers, FII-DII activity, and the latest corporate and Q2 earnings updates.