Tech Mahindra, IIFL Finance, and Persistent are in focus on 16 October as investors track their latest quarterly results. Tech Mahindra saw profit zoom 32.7% to Rs 1,585.6 crore. Meanwhile, many companies like Punjab National Bank and DLF will release their earnings today, keeping the market busy and active.
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Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, acquisitions, and order wins, here’s a quick look at which stocks will be in focus in today's trade:
Results Today
Punjab National Bank, LTM, Bajaj Housing Finance, Crompton Greaves Consumer Electricals, DLF, Federal Bank, Jindal Saw, Oberoi Realty, Shoppers Stop, Tejas Networks, Ujjivan Small Finance Bank, and Urban Company will release their quarterly earnings today.
Results on October 17
HDFC Bank, ICICI Bank, Axis Bank, IDBI Bank, Yes Bank, Central Bank of India, Punjab & Sind Bank, Bajaj Healthcare, India Cements, Le Travenues Technology, Kross, and Rossari Biotech will announce their quarterly results on October 17.
Quarterly Earnings
Tech Mahindra Q2 (Consolidated YoY)
Profit zooms 32.7% to Rs 1,585.6 crore Vs Rs 1,194.5 crore
Revenue grows 15.6% to Rs 16,180.2 crore Vs Rs 13,994.9 crore
Dollar revenue rises 6.7% to $1,693 million VS $1,586 million
Board declared interim dividend of Rs 15 per share
Board approves issue of bonus equity shares in the ratio of 1:1
Wipro Q2 (YoY)
Consolidated profit falls 1.4% to Rs 3,200.6 crore Vs Rs 3,246.2 crore
Consolidated revenue grows 9.06% to Rs 24,752.7 crore Vs Rs 22,697.3 crore
IT Services revenue jumps 8.95% to Rs 24,667 crore Vs Rs 22,640.5 crore
IT Services dollar revenue rises 0.3% to $2,611.5 million Vs $2,604.3 million
IT Services EBIT margin drops 20 bps to 16.5% Vs 16.7%
Wipro Q3 Guidance
IT Services revenue seen in the range of $2,571 million to $2,625 million
IT Services revenue growth seen in the range of -1.5% to 0.5% (QoQ)
Jio Financial Services Q2 (Consolidated YoY)
Profit stands at Rs 340.44 crore
Total income (ex-dividend) zooms 132% to 1,699 crore
Pre-provisioning operating profit (ex-dividend) increases 85% to Rs 574 crore
NBFC’s AUM grows 154% to Rs 37,320 crore
IIFL Finance Q2 (Consolidated YoY)
Profit surges 103.7% to Rs 766.4 crore Vs Rs 376.3 crore
Net interest income grows 50.2% to Rs 2,160.7 crore Vs Rs 1,439 crore
Persistent Systems Q2 (Consolidated YoY)
Profit drops 25.4% to Rs 351.5 crore Vs Rs 471.5 crore
Revenue grows 30.3% to Rs 4,663.9 crore Vs Rs 3,580.7 crore
Dollar revenue jumps 20% to Rs 487.6 crore Vs Rs 406.2 crore
EBIT surges 19.5% to Rs 697.7 crore Vs Rs 583.7 crore
EBIT margin falls 130 bps to 15% Vs 16.3%
Angel One Q2 (Consolidated YoY)
Profit spikes 58.2% to Rs 335 crore Vs Rs 211.7 crore
Revenue grows 18.7% to Rs 1,427 crore Vs Rs 1,201.8 crore
Sri Lotus Developers and Realty Q2 (Consolidated YoY)
Profit jumps 77.9% to Rs 82.1 crore Vs Rs 46.2 crore
Revenue rises 52.5% to Rs 268.6 crore Vs Rs 176.1 crore
Stocks to Watch
Solar Industries India
Solar Industries India’s subsidiary, Solar Explochem, has entered into a share purchase agreement with Sivasakthi Industrial Explosives for the proposed acquisition of a 100% stake in Sivasakthi for Rs 115.02 crore.
Mankind Pharma
Mankind Pharma will acquire a majority stake in Armed Cell Therapeutics B.V., a Belgium-incorporated biotechnology company developing next-generation chimeric antigen receptor T-cell (CAR-T) therapies for cancer, for 48 million euros.
Armed Cell Therapeutics has a pipeline of next-generation CAR-T assets, with lead programmes targeting non-Hodgkin lymphoma and small cell lung cancer.
Agastya Energy & Infrastructure
The company has received an engineering, procurement and construction (EPC) and operations and maintenance (O&M) contract worth Rs 106.04 crore from its subsidiary, IMC Solar BDN LLP, for a solar power plant project.
Premier Energies
The company’s subsidiary, Premier Battery Technologies, has executed a share allotment-cum-shareholders’ agreement with RCT Energy India, part of Germany’s RCT Group, to establish Premier Energies Storage Solutions (PESSPL) as a strategic joint venture.
The joint venture will set up a battery energy storage system (BESS) manufacturing facility with a total capacity of 12 GWh. The first phase will have a capacity of 6 GWh and is expected to be established in FY 2027–28 at Seetharampur, Telangana.
Prestige Estates Projects
Prestige Estates Projects has completed the first tranche of investment by CPP Investment Board Inc. (CPPIB) in its subsidiary, Prestige Hospitality Ventures (PHVL).
CPPIB has acquired a 10% stake in PHVL from the company for Rs 950 crore. It has also acquired a 5.79% stake in PHVL through a primary subscription to Series A compulsorily convertible preference shares (CCPS) for Rs 550 crore.
Indian Railway Catering and Tourism Corporation
IRCTC has signed a strategic memorandum of understanding (MoU) with the Quality Council of India (QCI) to establish an independent third-party audit mechanism to ensure high standards of food safety and hygiene across all IRCTC-managed mobile catering units (trains) and static catering units (stations).
South Indian Bank
South Indian Bank has appointed Anto George T as executive vice president and chief business officer, effective November 1, 2026. He previously served as executive vice president and chief operating officer.
Maruti Suzuki India
Maruti Suzuki India has received an order from the Income Tax Appellate Tribunal (ITAT) covering eight financial years: FY14 to FY20 and FY22. The issues have been decided largely in favour of the company, resulting in a positive tax impact, including interest, of Rs 13,000 crore.
The company will primarily reduce the interest component of its contingent liability by Rs 6,300 crore. It will also file an application with the jurisdictional Assessing Officer to give effect to the tribunal’s order.
The company does not expect the order to have a significant impact on its financials, operations, or other activities.
HEG Advanced Materials
The Deputy Commissioner of State Tax, Bhopal, has dropped the proceedings against HEG Advanced Material based on the information available on record for the tax period FY21.
The GST Authority in Bhopal had issued a show-cause notice to the company, proposing the recovery of IGST refunds along with a penalty, amounting to Rs 282.34 crore, for FY21.
Bulk & Block Deals
Eternal
BofA Securities Europe SA purchased 53.37 lakh shares, representing 0.05% of Eternal’s paid-up equity, from Goldman Sachs Bank Europe SE ODI for Rs 168.67 crore.
The shares changed hands at Rs 316 apiece.
Vardhman Polytex
Foreign portfolio investor Pine Oak Global Fund has acquired an additional 25 lakh shares, equivalent to a 0.49 percent stake, in Vardhman Polytex for Rs 1.38 crore.
All the shares were sold by Anupama Kothari at Rs 5.55 apiece.
According to the company’s shareholding pattern for September 2026, Pine Oak Global Fund held a 5.34 percent stake in Vardhman Polytex, while high-net-worth individual investor Anupama Kothari held a 9.83 percent stake.
LCC Projects
Neomile Corporate Advisory and its founder and director, Kirtan Maneklal Rupareliya, have acquired a combined 1.4 percent stake in LCC Projects for Rs 55.11 crore.
PC Jeweller
Investor Aditya Kumar Halwasiya has acquired 5.1 crore equity shares, representing a 0.52 percent stake in jewellery retailer PC Jeweller, for Rs 73.59 crore.
The shares were purchased at Rs 14.43 apiece.