India Market Recap
Indian equity benchmarks ended lower on Friday after surrendering their morning gains, although both indices recovered some ground from their provisional closing levels during the final settlement. The Nifty 50 declined 87.65 points, or around 0.39%, to settle at 22,600, while the BSE Sensex fell 125.56 points, or 0.17%, to close at 73,123.83. However, the Nifty recovered 83.60 points from its provisional closing level of 22,516.40, while the Sensex gained back 228.88 points from its provisional close of 72,894.95. The recovery indicates some buying interest at lower levels, although overall sentiment remained cautious. On the technical front, Nifty support is placed around 22,500–22,400, while resistance is seen in the 22,700–22,800 range.
US Market Recap
US equities declined on Friday as investors remained cautious following the technology-led sell-off and crude oil prices rising above $100 per barrel amid concerns over a possible escalation in the US–Iran conflict. The Dow Jones Industrial Average fell 652.82 points, or 1.23%, to close at 52,215.16, while the S&P 500 declined 39.75 points, or 0.52%, to settle at 7,623.68. The Nasdaq Composite also edged lower by 53.52 points, or 0.21%, to close at 25,955.34. Technology stocks remained under pressure as concerns over corporate borrowing costs and rising interest rates weighed on the sector. Elevated energy prices and geopolitical uncertainty continued to influence investor sentiment.
Asian Market Update
Asian markets traded mixed on Monday as investors assessed upcoming central bank decisions and China's Fifth Plenum meeting. Japan's Nikkei 225 declined 0.2%, while the broader Topix index advanced 0.60%. South Korea's Kospi fell 0.3%, while the Kosdaq Index dropped 1.95%, reflecting continued weakness in parts of the regional market. Meanwhile, Hong Kong's Hang Seng index futures pointed to a higher opening. Investors are likely to monitor policy signals from major central banks, developments in China and movements in global technology stocks for further direction.
Commodity Check
Crude oil prices declined in Asian trading on Monday after Brent crude reached a six-month high last week. Investors assessed the risk of further escalation in the Middle East alongside indications that oil shipments from the region had recovered towards prewar levels. Brent crude futures fell 1.31% to $115.19 per barrel, while US West Texas Intermediate (WTI) crude futures declined 1.5% to $101.83 per barrel. The pullback followed a sharp rally, with Brent crude prices reportedly rising around 90% this year as the conflict disrupted energy supplies and expanded to involve Yemen's Houthi rebels. Technical indicators pointing to overbought conditions and the absence of a major shift in the positions of the US and Iran also contributed to the decline. However, the risk of further attacks on energy infrastructure and shipping routes remains elevated. Although crude shipments through the Strait of Hormuz have recovered towards prewar levels, renewed disruptions could trigger further price volatility. For India, persistently high oil prices remain a concern due to their potential impact on import costs, inflation and corporate margins.
Stocks In News
- Adani Enterprises: IndiGo and Adani Airports announce phased expansion of international flight operations at Navi Mumbai Airport.
- Bharat Parenterals: Shareholders approve a Rs 139 crore preferential issue.
- Arvind: PM Narendra Modi inaugurates a garment manufacturing unit in Varanasi. The plant has revenue potential of Rs 250 crore.
- Grasim Industries (Clarification): The company says the Rs 329 crore amount referred to in a news article represents income allegedly proposed by the department and is factually incorrect. The Bombay High Court has quashed the Rs 329 crore tax claim against Grasim over the Vodafone Idea rights issue and struck down the tax reopening.
- Oil Marketing Companies: Main LPG distributors' unions oppose a strike and seek dialogue on a commission hike.
- Raymond: Board approves changing the company's name to Raymond Aerospace, Defence and Engineering.
- Ramky Infrastructure: Gets a contract worth Rs 589 crore from Rail Vikas Nigam.
- PB Fintech: IRDAI extends the feedback period for its distribution reform consultation paper to October 31.
- Tata Steel: Revises the board meeting to consider results to November 7 from October 27.
- AU Small Finance Bank (Concall): Sees credit costs at 90–100 bps going forward.
- Kotak Mahindra Bank (Concall): Tells NDTV Profit that tractor and commercial vehicle portfolio quality is good, credit card spending is seeing strong traction, and the bank is still assessing RBI guidelines on leverage ratios.
- Yes Bank: Management says the bank retains the right to exercise coupon discretion on its AT1 bonds and is still evaluating whether to exercise that discretion. It will communicate its decision after completing the assessment. The bank assures that day-to-day operations and customer services will continue without interruption.
- SEPC: Contract losses in Jharkhand.
- IndoTech Transformers: Wins an order worth Rs 48 crore.
- Orchid Pharma: Enters into a licensing and supply agreement with Laboratorio Libra S.A.
- Indian Bank: Appoints Manasa Gangotri Kata as a Government of India nominee director.
- BL Kashyap and Sons: Gets an order worth Rs 496 crore from Signature Global.
- SEAMEC: Vessel SEAMEC Swordfish is off-hired due to technical reasons.
- Ashoka Buildcon: SPV receives provisional certificate for an NHAI project in Karnataka.
- Maruti Suzuki: Launches the Victoris Aurum Edition.
- RailTel: Wins an order worth Rs 20 crore.
- KEC International: Gets new orders worth Rs 2,872 crore from Power Grid.
- ideaForge: Arm terminates JV pact with First Breach.
- Power Finance Corporation: Incorporates step-down arm Khushkhera Transmission.
- Patanjali Foods: Receives an order from the Madhya Pradesh FDA to recall the sale of cow ghee.
- Sahajanand Medical Technologies: Receives a summons from the DGGI's Mumbai Zonal Unit.
- Lupin: Receives one Form 483 observation from the US FDA for its Goa facility.
- Sobha: Receives an order from the Commissioner (Appeals) of Central Tax, Central Excise and Revenue.
- VRL Logistics: Buyback opens on October 27.
- Kotak Mahindra Bank: Board appoints Anup Kumar Saha as MD and CEO for three years, effective January 1, 2027. The RBI approved the appointment on September 30.
- Dynamatic Technologies: Announces reorganisation for its UAV arm.
- Punjab National Bank: Aims to bring its cost-to-income ratio below 50% this fiscal and to 45% by FY29, MD Chandra says.
- NMDC: Scouts for mining assets across four continents as part of its diversification plan.
- Paradeep Phosphates: To invest Rs 4,750 crore in new chemical and fertiliser facilities; signs an agreement with the Odisha government for the new facilities.
- Aditya Birla Real Estate: Announces a retail and residential project in Pune with revenue potential of Rs 1,650 crore. Residential and retail components will span 5.62 acres.
- RACL Geartech: Receives an order from a customer in Brazil to supply engine timing gears.
- Gland Pharma: US FDA issues Form 483 with four observations following an inspection at the company's formulation facility in Telangana from October 12 to 23.
- Jupiter Wagons: Signs an MoU with Poland's Pojazdy Szynowe PESA to explore cooperation in passenger rolling stock for India.
- Godrej Consumer Products: Arm commences commercial production at its Indonesia unit.
- Bajaj Housing Finance: Gaurav Kalani resigns as CFO, effective January 22, 2027.
- Power Grid Corporation Of India: Commissions a renewable transmission plan in Karnataka. The transmission scheme covers a renewable energy zone.
- Tilaknagar Industries: Government agency conducts a search at the company's office and manufacturing unit.
- Sun Pharma: To present long-term follow-up data on UNLOXCYT (cosibelimab-ipdl) at ESMO 2026. The data comes from one of the largest prospective studies in advanced cutaneous squamous cell carcinoma.
- Schaeffler India: CEO and MD Harsha Kadam files a criminal application before the Bombay High Court seeking to quash the authority's investigation against him. The High Court stays further investigation against Kadam.
- Patanjali Foods: FDA orders a recall of a cow ghee batch. The company says the order will have no material financial impact.
- Waaree Renewable Technologies: Aggregate capacity under letters of award stands at 800 MWac / 1,109 MWp. Capacity and scope revised from 400 MWac / 530 MWp to 400 MWac / 557 MWp.
- BPCL: To incorporate an arm for the Andhra Pradesh project. The arm will have initial authorised capital of Rs 4,900 crore.
- IRFC: Delhi GST body drops a tax demand of Rs 549 crore.
- Granules India: Incorporates arm TRITON FARMACEUTICA S.A. de C.V.
- Crompton: Launches Ameo Chop'N'Peel, combining peeling, chopping and whisking in one appliance.
- Newgen Software: Chairman and MD Diwakar Nigam continues to remain indisposed and is unable to discharge the duties and responsibilities of his office regularly.
- Graphite India: Acquires 7.78 lakh shares of Godi India for Rs 58.7 crore.
- Trent: Arm enters into a binding term sheet with TreBits Investment Trust to divest its stake in Netria Property Holdings. The arm is Nahar Retail Trading Services.
- Onemi Technology: Board approves allotment of 2.6 crore shares on a preferential basis.
- Power Finance Corporation: Incorporates two SPVs under its wholly owned arm PFC Consulting.
- ACME Solar: Arm commissions the BESS component of 17.91 MW / 74.323 MWh for a Rajasthan project; cumulative BESS capacity reaches 71.64 MW.
- Gufic Biosciences: US FDA issues three observations to its Indore unit following a pre-approval inspection conducted from October 15 to 23.
- Natco Pharma: Approves allotment of 1.7 crore shares at Rs 750 per share.
- GE Shipping: Contracts to acquire a second-hand large gas carrier. The vessel will be financed through internal accruals.
- Network18 Media: NCLT approves the amalgamation of News18 Marathi with the company.
- Lemon Tree Hotels: Signs a licence agreement for a 63-room hotel in Bhilwara.
Earnings
- Net Profit: Rs 1,045 crore vs Rs 352 crore
- Net Interest Income: Up 21% YoY at Rs 6,184 crore vs Rs 5,113 crore
- Operating Profit: Up 35% YoY at Rs 2,539 crore vs Rs 1,880 crore
- Gross NPA: 1.32% vs 1.51% QoQ
- Net NPA: 0.40% vs 0.44% QoQ
- Provisions: Rs 1,137 crore vs Rs 1,144 crore QoQ
- Revenue: Up 34.5% YoY at Rs 1,556 crore vs Rs 1,156 crore
- Ebitda: Up 35.6% YoY at Rs 209 crore vs Rs 155 crore
- Ebitda Margin: 13.5% vs 13.4%
- Net Profit: Up 57.8% YoY at Rs 106 crore vs Rs 66.9 crore
- Capital Outlay: Rs 150 crore for a new manufacturing unit
- Revenue: Up 61.4% QoQ at Rs 1,323 crore vs Rs 820 crore.
- Ebit: Up 65.2% QoQ at Rs 194 crore vs Rs 117 crore.
- Ebit Margin: 14.6% vs 14.3%.
- Net Profit: Up 60.2% QoQ at Rs 137 crore vs Rs 85.3 crore.
- To incorporate a wholly owned subsidiary in Taiwan.
- Revenue: Up 23.8% YoY at Rs 1,468 crore vs Rs 1,186 crore
- Ebitda: Up 34.3% YoY at Rs 287 crore vs Rs 213 crore
- Ebitda Margin: 19.5% vs 18%
- Net Profit: Up 42.5% YoY at Rs 190 crore vs Rs 133 crore
- To set up a new tile adhesive unit in West Bengal
- To invest Rs 180 crore to expand production capacity at its Gailpur unit
- To invest Rs 340 crore to expand production capacity at its Andhra unit
- Revenue: Up 39.1% YoY at Rs 4,413 crore vs Rs 3,173 crore
- Net Profit: Rs 124 crore vs a loss of Rs 52.99 crore
- Revenue: Up 20.5% YoY at Rs 1,146 crore vs Rs 951 crore
- Ebitda: Up 13.9% YoY at Rs 176 crore vs Rs 154 crore
- Ebitda Margin: 15.4% vs 16.2%
- Net Profit: Down 9.9% YoY at Rs 68.6 crore vs Rs 76.1 crore
- Saw a one-time loss of Rs 32.2 crore in Q2
- Net Interest Income: Rs 8,458.97 crore vs Rs 7,311 crore, up 15.7% YoY and 6.7% QoQ
- Pre-Provision Operating Profit: Rs 6,382 crore vs Rs 5,268 crore, up 21.15% YoY and 4.09% QoQ
- Net Profit: Rs 4,211.97 crore vs Rs 3,253 crore, up 29.48% YoY and 2.16% QoQ
- Gross NPA: 1.04% vs 1.18%, down 14 bps QoQ and 35 bps YoY
- Net NPA: 0.24% vs 0.27%, down 3 bps QoQ and 8 bps YoY
- Net Interest Margin: 4.31% vs 4.53%, down 22 bps QoQ and 23 bps YoY
- Cost of Funds: 4.52% vs 4.46% QoQ
- Slippages: Rs 1,230 crore, down 24% YoY from Rs 1,629 crore
- Strong deposit growth led by FCNR(B) borrowings
- CASA Ratio: 38.2% vs 42.3% YoY, reduced due to FCNR(B) deposit inflows
- Excluding FCNR(B) deposits, the CASA ratio stood at 41.8%
- Revenue: Up 33% YoY at Rs 546 crore vs Rs 411 crore
- Net Profit: Up 27.2% YoY at Rs 139 crore vs Rs 109 crore
- Revenue: Up 45.3% YoY at Rs 503 crore vs Rs 346 crore
- Ebitda: Up 78.3% YoY at Rs 46.9 crore vs Rs 26.3 crore
- Ebitda Margin: 9.3% vs 7.6%
- Net Profit: Up 88.8% YoY at Rs 42.3 crore vs Rs 22.4 crore
- Revenue: Up 23.7% YoY at Rs 3,733 crore vs Rs 3,019 crore
- Ebitda: Up 13.6% YoY at Rs 507 crore vs Rs 447 crore
- Ebitda Margin: 13.6% vs 14.8%
- Net Profit: Up 7.8% YoY at Rs 173 crore vs Rs 161 crore
- Arm to set up a new water-based paint manufacturing plant in Telangana
- Estimated capital cost of the new plant: Rs 130 crore
- The arm is JK Maxx Paints
- Revenue: Down 2.4% YoY at Rs 1,451 crore vs Rs 1,487 crore
- Ebitda: Rs 197 crore vs Rs 75.9 crore
- Ebitda Margin: 13.6% vs 5.1%
- Net Profit: Rs 132 crore vs Rs 38 crore
- Net Interest Income: Up 31.5% YoY at Rs 2,820 crore vs Rs 2,144 crore
- Operating Profit: Up 25% YoY at Rs 1,514 crore vs Rs 1,210 crore
- Net Profit: Up 52.9% YoY at Rs 858 crore vs Rs 561 crore
- Gross NPA: 1.99% vs 2.10% QoQ
- Net NPA: 0.81% vs 0.76% QoQ
- Provisions: Rs 359 crore vs Rs 371 crore QoQ
- Revenue: Down 7.3% QoQ at Rs 1,735 crore vs Rs 1,871 crore
- Ebitda: Down 47% QoQ at Rs 262 crore vs Rs 494 crore
- Ebitda Margin: 15.1% vs 26.4%
- Net Profit: Down 49.3% QoQ at Rs 176 crore vs Rs 348 crore
- Revenue: Up 72.3% YoY at Rs 388 crore vs Rs 225 crore
- Ebitda: Up 87.8% YoY at Rs 111 crore vs Rs 59.2 crore
- Ebitda Margin: 28.6% vs 26.3%
- Net Profit: Up 55.7% YoY at Rs 48.4 crore vs Rs 31.1 crore
- Net Interest Income: Grew 17.2% YoY to Rs 699 crore from Rs 596 crore
- Net Profit: Grew 28.5% YoY to Rs 236 crore from Rs 184 crore
- Gross NPA: Improved to 2.29% from 2.43% QoQ
- Net NPA: Improved to 0.73% from 0.84% QoQ
- Provisions: Rs 64.5 crore vs Rs 60.5 crore YoY and Rs 57.1 crore QoQ
- Re-appointed Praveen Kutty as MD and CEO for three years
- Revenue: Grew 3.4% QoQ to Rs 1,019 crore from Rs 985 crore
- Ebit: Declined 5.3% QoQ to Rs 127 crore from Rs 134 crore
- Ebit Margin: Contracted to 12.4% from 13.6% QoQ
- Net Profit: Declined 0.2% QoQ to Rs 106 crore from Rs 106 crore
- Revenue: Grew 41.9% YoY to Rs 23,930 crore from Rs 16,861 crore
- Ebitda: Grew 31.1% YoY to Rs 2,723 crore from Rs 2,077 crore
- Ebitda Margin: Declined to 11.4% from 12.3% YoY
- Net Profit: Rs 2,138 crore vs a loss of Rs 1,021 crore YoY
- Revenue vs Cons: Rs 23,930 crore vs Rs 24,689 crore
- Ebitda vs Cons: Rs 2,723 crore vs Rs 2,830 crore
- Ebitda Margin vs Cons: 11.4% vs 11.5%
- Net Profit vs Cons: Rs 2,138 crore vs Rs 1,933 crore
- Net Interest Income: Grew 3.6% YoY to Rs 4,569 crore from Rs 4,409 crore
- Operating Profit: Grew 37% YoY to Rs 2,778 crore from Rs 2,028 crore
- Net Profit: Rs 1,176 crore vs a loss of Rs 445 crore YoY
- Gross NPA: Improved to 2.73% from 3.25% QoQ
- Net NPA: Improved to 0.83% from 0.95% QoQ
- Provisions: Rs 1,216 crore vs Rs 1,340 crore QoQ and Rs 2,622 crore YoY
- Revenue: Grew 2.1% QoQ to Rs 49,244 crore from Rs 48,211 crore
- Ebit: Grew 1.6% QoQ to Rs 10,330 crore from Rs 10,163 crore
- Ebit Margin: Declined to 21% from 21.1% QoQ
- Net Profit: Grew 0.7% QoQ to Rs 7,823 crore from Rs 7,769 crore
- Revenue vs Cons: Rs 49,244 crore vs Rs 49,135 crore
- Ebit vs Cons: Rs 10,330 crore vs Rs 10,408 crore
- Ebit Margin vs Cons: 21% vs 21.2%
- Net Profit vs Cons: Rs 7,823 crore vs Rs 7,905 crore
- FY27 revenue growth guidance revised to 1–2%
- Attrition: 12.7% vs 13% QoQ
- AI revenue accounted for 10.5% of total revenue, growing 29% QoQ
- Large deal total contract value: $5.2 billion
- Revenue: Up 11.61% QoQ at Rs 6,170 crore vs Rs 5,527.7 crore
- Ebit: Up 11.59% QoQ at Rs 984.5 crore vs Rs 882.2 crore
- Ebit Margin: Unchanged at 15.95%
- Net Profit: Up 13.4% QoQ at Rs 588.1 crore vs Rs 518.6 crore
- Revenue: Grew 16% YoY to Rs 456 crore from Rs 394 crore
- Ebitda: Grew 15.8% YoY to Rs 107 crore from Rs 92.3 crore
- Ebitda Margin: Flat at 23.4% YoY
- Net Profit: Declined 2.1% YoY to Rs 56.2 crore from Rs 57.4 crore
- Revenue: Grew 50.8% YoY to Rs 4,979 crore from Rs 3,302 crore
- Ebitda: Grew 53.8% YoY to Rs 1,666 crore from Rs 1,083 crore
- Ebitda Margin: Expanded to 33.5% from 32.8% YoY
- Net Profit: Declined 9.6% YoY to Rs 534 crore from Rs 591 crore
- Net Interest Income: Grew 18.5% YoY to Rs 7,007 crore from Rs 5,914 crore
- Operating Profit: Grew 33.2% YoY to Rs 5,089 crore from Rs 3,821 crore
- Net Profit: Grew 25.4% YoY to Rs 3,202 crore from Rs 2,555 crore
- Gross NPA: Improved to 1.6% from 1.81% QoQ
- Net NPA: Improved to 0.42% from 0.51% QoQ
- Provisions: Rs 797 crore vs Rs 441 crore YoY and Rs 964 crore QoQ
- Revenue: Grew 20.7% YoY to Rs 4,841 crore from Rs 4,011 crore
- Ebitda: Declined 36% YoY to Rs 334 crore from Rs 521 crore
- Ebitda Margin: Contracted to 6.9% from 13% YoY
- Net Profit: Declined 71.3% YoY to Rs 65.1 crore from Rs 227 crore
- Total Income: Grew 18.2% YoY to Rs 1,121 crore from Rs 948 crore
- Net Profit: Grew 5.9% YoY to Rs 205 crore from Rs 193 crore
- Revenue: Declined 1.5% YoY to Rs 8,698 crore from Rs 8,828 crore
- Ebitda: Declined 13.9% YoY to Rs 1,731 crore from Rs 2,010 crore
- Ebitda Margin: Contracted to 19.9% from 22.8% YoY
- Net Profit: Declined 31.3% YoY to Rs 925 crore from Rs 1,347 crore
- Revenue vs Cons: Rs 8,698 crore vs Rs 8,615 crore
- Ebitda vs Cons: Rs 1,731 crore vs Rs 1,287 crore
- Ebitda Margin vs Cons: 19.9% vs 14.9%
- Net Profit vs Cons: Rs 925 crore vs Rs 727 crore
- Total Income: Declined 11% QoQ to Rs 1,237 crore from Rs 1,390 crore
- Net Profit: Declined 20.3% QoQ to Rs 701 crore from Rs 880 crore
- Revenue: Grew 12% YoY to Rs 746 crore from Rs 666 crore
- Ebitda: Declined 52.9% YoY to Rs 64 crore from Rs 135 crore
- Ebitda Margin: Contracted to 8.58% from 20.4% YoY
- Net Profit: Declined 57.5% YoY to Rs 39 crore from Rs 91 crore
- Total Income: Grew 1.4% QoQ to Rs 171 crore from Rs 169 crore
- Net Profit: Declined 16.7% QoQ to Rs 16.5 crore from Rs 19.8 crore
- Revenue: Declined 1.5% QoQ to Rs 1.49 lakh crore from Rs 1.51 lakh crore
- Ebitda: Rs 8,971 crore vs an Ebitda loss of Rs 4,078 crore QoQ
- Ebitda Margin: 6%
- Net Profit: Rs 4,993 crore vs a loss of Rs 3,962 crore QoQ
- Revenue vs Cons: Rs 1.49 lakh crore vs Rs 1.56 lakh crore
- Net Profit vs Cons: Rs 4,993 crore vs Rs 4,721 crore
- Revenue: Grew 3.4% YoY to Rs 182 crore from Rs 176 crore
- Net Profit: Declined 98% YoY to Rs 25 lakh from Rs 12.6 crore
- Revenue: Declined 4.5% YoY to Rs 228 crore from Rs 239 crore
- Ebitda: Declined 6.1% YoY to Rs 128 crore from Rs 136 crore
- Ebitda Margin: Declined to 56% from 56.9% YoY
- Net Profit: Declined 11.5% YoY to Rs 105 crore from Rs 119 crore
- Revenue: Grew 5.7% YoY to Rs 116 crore from Rs 110 crore
- Ebitda: Declined 18.3% YoY to Rs 38.8 crore from Rs 47.5 crore
- Ebitda Margin: Contracted to 33.4% from 43.2% YoY
- Net Profit: Declined 20.8% YoY to Rs 26.1 crore from Rs 32.9 crore
- Revenue: Declined 24.2% YoY to Rs 338 crore from Rs 446 crore
- Ebitda: Declined 57.8% YoY to Rs 66.5 crore from Rs 158 crore
- Ebitda Margin: Contracted to 19.6% from 35.3% YoY
- Net Profit: Declined 48.3% YoY to Rs 75.6 crore from Rs 146 crore
- Total Income: Declined 29.1% QoQ to Rs 415 crore from Rs 585 crore
- Net Profit: Declined 55% QoQ to Rs 132 crore from Rs 294 crore
- Revenue: Grew 77.5% YoY to Rs 1,984 crore from Rs 1,118 crore
- Ebitda: Grew 93.3% YoY to Rs 152 crore from Rs 78.6 crore
- Ebitda Margin: Expanded to 7.7% from 7% YoY
- Net Profit: Grew 99.2% YoY to Rs 96.2 crore from Rs 48.3 crore
- Revenue: Down 39% QoQ to Rs 1,907 crore vs Rs 3,125 crore
- Ebit: Down 51% QoQ to Rs 912 crore vs Rs 1,862 crore
- Ebit Margin: 47.8% vs 59.6%
- Net Profit: Down 50.4% QoQ to Rs 702 crore vs Rs 1,416 crore
- Revenue: Rs 811 crore vs Rs 115 crore
- Ebitda: Rs 101 crore vs an Ebitda loss of Rs 4.5 crore
- Ebitda Margin: 12.5%
- Net Profit: Rs 34.68 crore vs a loss of Rs 37.9 crore