diligence and definitive agreements (Neutral)
Atlantaa: The company’s ratings were reaffirmed at IVR BB+/Stable for long-term and IVR A4+ for short-term bank facilities worth ₹100 crore, supported by an EPC order book of ₹2,485 crore (Neutral)
Bajaj Finance: The company reported Q2 revenue of ₹24,550 crore versus ₹20,000 crore YoY and net profit of ₹6,266 crore versus ₹4,875 crore. (Neutral)
Nelco: The company reported Q2 revenue of ₹78.1 crore versus ₹74.3 crore YoY, EBITDA of ₹9.1 crore versus ₹7.5 crore (Neutral)
Waaree Renewable: Revenue up 36.5% to Rs 1,058 crore versus Rs 775 crore. Ebitda up 1.2% to Rs 160 crore versus Rs 158 crore (Neutral)
IREDA: Total income up 14% to Rs 2,347 crore versus Rs 2,058 crore. Net profit up 0.5% to Rs 552 crore versus Rs 549 crore. (Neutral)
Just Dial: Revenue up 13.1% to Rs 343 crore versus Rs 303 crore. Ebitda up 4.1% to Rs 90.6 crore versus Rs 87 crore. (Neutral)
Elevate Campus: Revenue up 31.1% to Rs 219 crore versus Rs 167 crore. Ebitda up 29.1% to Rs 165 crore versus Rs 128 crore (Neutral)
NTPC: Government appoints Diwakar Nath Misra as Government Nominee Director on the board. (Neutral)
Diamond Power Infrastructure: Appoints Kundip S Thakker as CFO from Oct. 20; Pawan Lohiya ceases to be CFO from Oct. 19. (Neutral)
Piramal Finance: The company reported Q2FY27 net profit of ₹545 crore, up 67% YoY, while AUM rose 24% to ₹1,13,112 crore and NIM improved 35 bps to 6.5%. (Neutral)
Gabriel India: Forms JV with Faurecia Automotive; acquires 50% minus one share in the JV, which will begin with an investment of Rs 20 crore. (Neutral)
JSW Dulux: Receives Rs 118 crore tax order from Karnataka GST authority. (Neutral)
Cemindia Projects: QIP issue closes; allots 1.3 crore shares at Rs 1,108 per share. (Neutral)
Orchid Pharma: Board approves raising up to Rs 600 crore through equity and/or other instruments. (Neutral)
Circuit filter change from 10% to 5%: KRN Heat Exchanger. (Neutral)
A One Steel: Revenue down 12% to Rs 1,041 crore versus Rs 1,188 crore. Ebitda down 16.2% to Rs 102.1 crore versus Rs 121.8 crore. (Negative)
Sobha: Revenue down 31.3% to Rs 967 crore versus Rs 1,408 crore. Ebitda down 28.1% to Rs 68.7 crore versus Rs 95.6 crore. (Negative)
Delta Corp: Revenue down 13.1% to Rs 159 crore versus Rs 183 crore. Ebitda down 28.8% to Rs 28.4 crore versus Rs 39.9 crore. (Negative)
Gallant Ispat: Revenue flat at Rs 1,145 crore. EBITDA down 41% at Rs 109.6 crore Vs Rs 185.1 crore. (Negative)
Schaeffler India: Managing Director and CEO Harsha Kadam taken into custody by Pune Police in connection with a factory accident that occurred on June 9. (Negative)
Globus Spirits: Maize Ethanol Price cut by Rs 3/ltr (Negative)
FNO Ban Stock –
#AMBUJACEM #KAYNES #SAIL
Corporate Action for Today –
NSE MAINBOARD NEW LISTING – HDFIRE EQ – HD Fire Protect Limited IPO PRICE Rs. 271/-
NSE SME NEW LISTING – LOANFRONT ST – Vaibhav Vyapaar Limited IPO PRICE Rs. 54/-
MRPL EX DIV – 3
ELECON EX DIV – 0.50
ICICIAMC EX DIV – 30
Stock Result Today –
#INDHOTEL #ADANIGREEN #ETERNAL #KEI #SRF #ABSLAMC #ACGL #ADOR #AYE #DIGJAMLMTD #IGIL #LMW #M&MFIN #MARATHON #MHRIL #NURECA #PCJEWELLER #RAJRATAN #VMM #WAAREEINDO #WELSPLSOL #WENDT #YASHHV #APTANN #DBSTOCKBRO #EENTER #GOLDLEG #INFINITY #KEYCORP #MORARKFI #ORIRAIL #PILITA #RITESHIN #SEL #SHANTAI #SHEKHAWATI #SUMERUIND #SWASTIKA #SWASTIKAIN #VIRTUALG #SONAM #PHANTOMFX
opportunity for the bank to boost profitability during stronger seasonal quarters.
Tech Mahindra ltd: Tech Mahindra sustained its growth momentum in Q2FY27, with revenue growth exceeding expectations, supported by the ramp-up of large deals and market share gains, alongside steady margin improvement and strong order inflows. Revenue stood at US$1,693 million, increasing 2% QoQ in reported currency and 2.4% in constant currency (CC), with organic growth of 2.3%. The company delivered 7.2% YoY CC revenue growth, including 7% organic growth, the highest among Tier-I IT players. This reflects the successful execution of its turnaround strategy, which targeted industry-leading growth by FY27, and positions the company to sustain its growth trajectory. Deal wins remained strong, with Q2FY27 order inflows rising 25% YoY to US$1,023 million, while trailing 12-month bookings increased 35%. Notably, the company added employees during the quarter despite AI-led productivity gains, reinforcing confidence in its growth outlook and future business demand.Positive on Tech Mahindra given the strong 2QFY27 performance.
Stocks in News
Genus Power: Board to meet on Oct. 26 to consider buyback (Positive)
DCM Shriram Industries: Mugi Constructions acquired 16.04 lakh shares at Rs 46.44 per share. (Positive)
Sun Pharma: UNLOXCYT receives a National Comprehensive Cancer Network (NCCN) Category 2A preferred recommendation for advanced skin cancer patients. (Positive)
RailTel: The Company wins a Rs 47 crore order from Haryana State Electronics Development Corporation. (Positive)
Karamtara Engineering: India Ratings upgrades bank loan ratings to IND AA-/Stable/IND A1+. (Positive)
Venus Pipes: Commences pipe spooling operations ahead of schedule. (Positive)
Steel Stocks: Primary-secondary rebar spread at its highest level since June 2022; global steelmaker Nucor has hiked prices. (Positive)
Jai Prakash Power: Revenue up 5.1% to Rs 1,512 crore versus Rs 1,438 crore. Ebitda up 39.3% to Rs 656 crore versus Rs 471 crore. (Positive)
ABB India: Strong commentary from parent company (Positive)
Infosys: The company expanded its AI-first GCC collaboration with Truist in Hyderabad, with over 1,000 colleagues on boarded to support technology transformation and streamline global delivery. (Positive)
Cement Stocks: Positive Commentary/Outlook Ultratech Cement (Positive)
Tatva Chintan Pharma: The company reported Q2 revenue of ₹220 crore versus ₹124 crore YoY, EBITDA of ₹40.7 crore versus ₹22.2 crore. (Positive)
Dhruv Consultancy Services: The company, alongside Mark Procon, secured a ₹14.85 crore road consultancy contract in Gujarat (Positive)
Tara Chand InfraLogistic: The company secured crane-hiring contracts worth ₹45.73 crore, including taxes. (Positive)
Hindustan Zinc: The company reported Q2FY27 revenue of ₹15,093 crore, up 77% YoY, EBITDA of ₹9,285 crore with a 62% margin, and net profit of ₹6,412 crore, up 142%. (Positive)
Ceigall India: The company’s subsidiary signed a transmission service agreement with CTUIL to develop an inter-state transmission system for power evacuation from projects in Lakadia, Khambhaliya and Jamnagar. (Positive)
L&T Technology Services: The company reported Q2FY27 revenue of ₹3,040 crore, up 12.1% YoY, and EBIT margin of 16.3%; net income rose 66.8% to ₹548 crore, including a one-time divestment gain. It declared an interim dividend of ₹20 per share. (Neutral)
Microse India: The company’s CFO Amit Mishra resigned due to personal reasons, effective November 1, 2026. (Neutral)
Solex Energy: The company’s subsidiary approved the issuance of compulsorily convertible debentures worth ₹150 crore, convertible into equity shares of the parent company subject to applicable approvals. (Neutral)
SML Mahindra: The company reported Q2FY27 revenue of ₹669.79 crore, up from ₹555.11 crore YoY, while PBT declined to ₹15.85 crore from ₹28.28 crore (Neutral)
Mideast Portfolio Management: The company signed an MoU with Cher Lifestyle to explore funding of up to ₹5 crore for opening three branches, subject to due
Corporate Actions
HD Fire Protect is set to make stock market debut today, October 21. The issue price is fixed at Rs. 271 per share.
Dividend
21-Oct-26
MRPL: Interim Dividend – Rs. – 3.00
ICICIAMC: Interim Dividend – Rs. – 30.00
ELECON: Interim Dividend – Rs. – 0.50
22-Oct-26
TIPSMUSIC: Interim Dividend – Rs. – 6.50
ANGELONE: Interim Dividend – Rs. – 1.40
23-Oct-26
IRFC: Interim Dividend – Rs. – 1.15
TECHM: Interim Dividend – Rs. – 15.00
360ONE: Interim Dividend – Rs. – 7.50
ICICIGI: Interim Dividend – Rs. – 7.00
HDBFS: Interim Dividend – Rs. – 2.00
AEPL: Interim Dividend – Rs. – 0.0060
GARUDA: Interim Dividend – Rs. – 0.03
LTM: Interim Dividend
IPO
Jio Platforms: Open: 21-Oct-26; Close: 23-Oct-26
Paras Healthcare: Open: 21-Oct-26; Close: 23-Oct-26
Buyback
VRL Logistics: Ex-Date: 22-Oct-26
Shardul Securities: Open: 14-Oct-26; Close: 21-Oct-26
Transport Corporation of India: Open: 15-Oct-26; Close: 22-Oct-26
Bonus Issue
Titan Biotech: Bonus Issue 1:4; Ex-Date: 23-Oct-26
Stock Split
JSW Dulux: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 22-Oct-26
Azad India Mobility: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 23-Oct-26
Midaas Fashions: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 26-Oct-26
Meenakshi India: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 30-Oct-26
Galaxy Agrico Exports: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 30-Oct-26
Gujarat Natural Resources: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 05-Nov-26
Knowledge Marine & Engineering Works: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 06-Nov-26
Right Issue
Natco Pharma: Open: 12-Oct-26; Close: 22-Oct-26
Tuni Textile Mills: Open: 28-Sep-26; Close: 26-Oct-26
Ola Electric Mobility: Open: 22-Oct-26; Close: 30-Oct-26
Shivam Autotech: Open: 22-Oct-26; Close: 19-Nov-26
Open Offer
Premier Explosives: Open: 12-Oct-26; Close: 26-Oct-26
Forthcoming Event
21st October: ADOR to consider Dividend; Automobile Corporation of Goa to consider Buyback; Magnus Steel And Infra to consider Fund Raising
22nd October: COLPAL, CYIENT, NAM-INDIA, PITTIENG, SAGILITY to consider Dividend; BlueStone Jewellery and Lifestyle to consider Fund Raising
23rd October: CMPDI, CRISIL, INFY, SSWL, SPLPETRO to consider Dividend; SKM Egg Products Export (India) to consider Amalgamation; Shriram Finance to consider Dividend & Fund Raising
27th October: ROUTE to consider Dividend; Manba Finance to consider Dividend & Fund Raising; Tata Capital to consider Fund Raising
28th October: HINDUNILVR, VAIBHAVGBL to consider Dividend; Indergiri Finance to consider Fund Raising
29th October: ASIANPAINT, CARERATING, CAMS, GODREJCP, LAURUSLABS to consider Dividend
30th October: INDTONER, NAVINFLUOR, STL to consider Dividend
Stocks in Action
ICICI Bank: ICICI Bank delivered a strong Q2FY27 performance, supported by resilient NIMs, robust core earnings and healthy asset quality. The bank reported a 20% YoY growth in profit to Rs 14,843 crore, outperforming estimates on the back of accelerated loan growth and lower provisions, despite a marginal contraction in margins. Elevated interest rates on FCNR(B) deposits increased the cost of funds and weighed on NIMs; however, these long-term deposits have significantly strengthened the bank’s balance sheet. Overall deposits grew 27% YoY, supported by substantial FCNR(B) inflows, with the bank mobilising $18 billion in such deposits, among the highest in the industry, underscoring the strength of its overseas franchise. Looking ahead, the bank is well-positioned to improve RoA through the gradual reduction of high-cost bulk deposits, continued loan book expansion and optimal deployment of FCNR(B) funds. Asset quality remained resilient across segments, with credit costs declining sharply, partly aided by a one-off corporate recovery. Fresh corporate NPAs remained negligible, while retail asset quality stabilised, supported by improving trends in personal loans and credit cards.Positive on ICICI Bank given strengthened balance sheet support, combined with favourable interest rate movements, creates a strong
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