Indian equity markets staged a sharp rebound on Friday as the Nifty 50 advanced 288.65 points. Shares of banks, HCL Technologies, DMart, Adani Green Energy, PTC Industries, and Anand Rathi Wealth will remain in focus on Monday. Investors got a boost from quarterly earnings and business updates across many listed companies.
Indian equity markets staged a sharp rebound on Friday, recovering a substantial portion of the previous session’s losses as bargain buying and improving global cues lifted investor sentiment. The Nifty 50 advanced 288.65 points, or 1.30%, to close at 22,520.45, while the Sensex gained 879.09 points, or 1.23%, to settle at 72,472.33.
According to Ponmudi R, CEO of Enrich Money, the Nifty 50 has immediate support at 22,450, followed by 22,300, while resistance is placed around 22,600. A sustained breakout above the 22,600 mark could pave the way for a further recovery towards 22,800.
Against this backdrop, shares of banks, HCL Technologies, Avenue Supermarts (DMart), Adani Green Energy, PTC Industries, Anand Rathi Wealth and several other companies are likely to remain in focus in Monday’s session, driven by quarterly earnings, business updates, fundraising developments and regulatory changes.
Stocks to Watch on Monday
Canara Robeco Asset Management Company
Canara Robeco Asset Management Company reported a 21.5% year-on-year increase in net profit to Rs 59.2 crore, while revenue rose 18.6% to Rs 128 crore. Total assets under management (AUM) declined 1% year-on-year to Rs 1.16 lakh crore, while quarterly average AUM increased 4% to Rs 1.24 lakh crore. The company’s total folio count stood at 5.01 million. Its board also approved an interim dividend of Rs 2 per share. The stock continues to trade below its issue price.
Avenue Supermarts (DMart)
Avenue Supermarts, which operates the DMart retail chain, reported an 8.5% year-on-year increase in net profit to Rs 743.5 crore, while revenue rose 17.8% to Rs 19,644 crore. EBITDA increased 15% to Rs 1,394 crore. However, the EBITDA margin narrowed to 7% from 7.3% in the year-ago period. While revenue, net profit and EBITDA were broadly in line with CNBC-TV18 poll estimates, margins came in well below expectations.
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Poonawalla Fincorp
Poonawalla Fincorp reported a sharp rise in net profit to Rs 374.8 crore from Rs 74 crore in the corresponding period last year. Net interest income (NII) increased 75.7% to Rs 1,589 crore from Rs 905 crore. Assets under management stood at Rs 74,008 crore.
Net interest margin (NIM) improved to 9.26% from 9.1% in the June quarter, while credit costs declined to 2.19% from 2.4%. Asset quality also improved, with gross non-performing assets (NPAs) falling to 1.2% from 1.37% in June and net NPAs declining to 0.61% from 0.7%. Pre-provisioning operating profit rose 11.8% sequentially to Rs 877 crore.
Can Fin Homes
Can Fin Homes posted a 9.2% year-on-year increase in net profit to Rs 274.6 crore. Net interest income rose 6.6% to Rs 432 crore, while the loan book expanded to Rs 43,539 crore from Rs 39,657 crore a year earlier.
However, net interest margin narrowed to 3.89% from 4.02% in the year-ago period. Gross NPA stood at 0.9%, compared with 0.87% in June, while net NPA increased to 0.42% from 0.4%.
The company added 4,083 MW of greenfield capacity during the first half, including 621 MW in the September quarter. During Q2 FY27, Adani Green Energy operationalised 3,081 MWh of battery energy storage system (BESS) capacity at Khavda. Its total installed battery energy storage capacity stood at 6,632 MWh at the end of H1 FY27.
Canara HSBC Life Insurance
Canara HSBC Life Insurance reported a 5.5% year-on-year increase in net profit to Rs 43.1 crore, while net premium earned rose 13% to Rs 2,553.2 crore.
Value of new business (VNB) increased 24% to Rs 266 crore in the first half of FY27. Annual premium equivalent (APE) stood at Rs 6,644 crore, compared with Rs 5,853 crore in Q2 of the previous year.
Kalpataru
Kalpataru’s second-quarter business update showed a 5% year-on-year decline in pre-sales to Rs 1,258 crore from Rs 1,329 crore. Collections remained broadly flat at Rs 1,189 crore, compared with Rs 1,182 crore a year earlier.
During the quarter, the company launched Kalpataru Elara, a premium residential project in Goregaon, Mumbai, offering two-, three- and four-bedroom residences.
PTC Industries
PTC Industries’ board approved the closure of its qualified institutional placement (QIP), through which the company raised Rs 1,800 crore.
The company approved the issue and allotment of 8.54 lakh equity shares to eligible institutional buyers at Rs 21,060 per share, representing a 5% discount to the floor price. Smallcap World Fund, Fidelity Funds and HDFC Mutual Fund together received more than 50% of the shares reserved for the QIP.
Anand Rathi Wealth
Anand Rathi Wealth reported a 9.5% year-on-year decline in net profit to Rs 89.95 crore, despite a 15.7% increase in revenue to Rs 344 crore. EBITDA fell 15.1% to Rs 116.8 crore, while the EBITDA margin contracted to 34% from 46.2%.
On the business front, the company recorded its highest-ever quarterly net inflow, rising 39% to Rs 4,186 crore. Active client families in its private wealth business increased 12% to 14,309, while AUM grew 18% year-on-year to Rs 1.08 lakh crore. The board also approved an interim dividend of Rs 4 per share.
Waterways Leisure Tourism
Recently listed Waterways Leisure Tourism reported a net profit of Rs 54.4 crore, compared with Rs 30.9 crore in the year-ago period. Revenue increased 30.9% to Rs 133 crore from Rs 102 crore. EBITDA turned positive at Rs 9.7 crore, compared with an EBITDA loss of Rs 6.5 crore in the corresponding period last year.
Ajmera Realty
Ajmera Realty’s Q2 business update showed a 68% year-on-year decline in carpet area sold to 72,883 square feet. Sales value fell 69% to Rs 224 crore, while collections declined 14% to Rs 190 crore.
Sequentially, however, the company recorded an improvement across all three parameters. Carpet area sold, sales value and collections increased 67%, 54% and 10%, respectively, compared with the previous quarter.
Bajel Projects
Bajel Projects secured an engineering, procurement and construction (EPC) order for the supply and installation of 220 kV gas-insulated switchgear (GIS) substations at Salsette and Powai in Mumbai.
According to the company’s classification, the order falls under the “major” category, with an estimated value ranging between Rs 200 crore and Rs 300 crore.
Banking Stocks
Banking stocks are likely to remain in focus after the Reserve Bank of India raised the minimum daily cash reserve ratio (CRR) maintenance requirement to 99% from the earlier 90%. The revised requirement will take effect from the fortnight beginning October 16.
The change could draw investor attention to banks as the market assesses its potential implications for liquidity management and banking operations.
Q2 Results Today: Stocks to Watch
HCL Technologies, RBL Bank, Swan Defence and Heavy Industries, Gujarat State Fertilizers & Chemicals, Swaraj Engines, Adroit Industries India, Bright Outdoor Media, Plastiblends India, RUDRA ECOVATION, Umiya Buildcon, Alkali Metals, Agri-Tech (India), Neil Industries, Newtrac Foods and Beverages, and Universal Arts.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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