Indian stock markets fell on Monday as the Nifty 50 dropped 157 points to close at 22,363. Rising bond yields and foreign outflows hurt sentiment. Investors now watch HCL Tech, RBL Bank, and others on Tuesday, October 13, as many companies share quarterly earnings and new corporate developments this week.
Synopsis
Indian stock markets struggled on Monday, as the Nifty 50 saw a considerable drop. The falls were attributed to increasing bond yields, consistent outflows from foreign institutional investors, and pervasive global concerns. Attention now shifts to forthcoming announcements from major players like HCL Technologies and RBL Bank, with quarterly earnings expected to influence investor outlook.
Indian equities ended lower on Monday after surrendering early gains, as rising bond yields, sustained foreign institutional investor (FII) outflows and global uncertainties weighed on sentiment.
The Nifty 50 declined 157 points, or 0.70%, to close at 22,363. On the technical front, the Nifty has immediate support at 22,300. A breach of this level could pull the index towards 22,100 or lower, while resistance is seen at 22,420 and 22,650, according to Rupak De, senior technical analyst at LKP Securities.
Against this backdrop, shares of HCL Technologies, RBL Bank, Nazara Technologies, Hero Motors, Power Grid Corporation of India and several other companies will be in focus on Tuesday, October 13, amid quarterly earnings announcements and a series of corporate, regulatory and fundraising developments.
HCL Technologies
The IT services major reported a 21% year-on-year (YoY) increase in consolidated net profit to Rs 5,132 crore for the second quarter of FY27, compared with Rs 4,235 crore in the year-ago period. Its board also declared a second interim dividend of Rs 12 per share for FY27.
ICICI Prudential AMC
The asset management company reported a 6.1% YoY increase in profit after tax (PAT) to Rs 889 crore for the second quarter of FY27, against Rs 838 crore in the corresponding quarter of the previous financial year.
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RBL Bank
The private sector lender reported a sharp increase in net profit to Rs 481.7 crore in Q2FY27, compared with Rs 179 crore a year earlier. Net interest income (NII) rose 37.4% YoY to Rs 2,131 crore from Rs 1,551 crore. Asset quality improved sequentially, with gross non-performing assets (NPAs) declining 28 basis points to 1.02% and net NPAs falling eight basis points to 0.29%. However, provisions increased to Rs 766.5 crore from Rs 599.2 crore in the previous quarter and Rs 499.7 crore in the year-ago period.
Nazara Technologies
The gaming company has redesignated Mithun Padam Sacheti from non-executive director to executive director and whole-time director, effective October 12, 2026, subject to shareholder approval. Rohit Sharma will step down as whole-time director at the close of business on January 11, 2027. Chief Financial Officer Rakesh Shah has also resigned, effective October 15, 2026.
Bank of India
The public sector lender has classified the non-performing asset (NPA) account of Future Enterprises, involving outstanding dues of Rs 575.40 crore, as fraud. The bank has made provisions of Rs 575.40 crore against the account.
IRCON International
The company has received a Letter of Acceptance (LoA) worth Rs 862.46 crore from East Central Railway for an engineering, procurement and construction (EPC) contract. The project involves track works and the supply of railway materials for the third and fourth lines of the Son Nagar–Andal project.
Power Grid Corporation of India
The state-owned power transmission company acquired two project special-purpose vehicles (SPVs) from PFC Consulting Limited on October 12, after emerging as the successful bidder under the tariff-based competitive bidding process. The first SPV, Lakadia C Power Transmission Limited, will develop an interstate transmission system to evacuate power from Lakadia Phase II (7.5 GW), Jam Khambhaliya Phase II (5.5 GW) and Jamnagar Phase I (1 GW). The project will be developed under the build, own, operate and transfer (BOOT) model. The second SPV, Jam Khambhaliya REZ Transmission Limited, will develop transmission infrastructure to integrate renewable energy projects in Gujarat's Jam Khambhaliya renewable energy zone, covering Phase II capacity of 5,500 MW and Jamnagar Phase I capacity of 1,000 MW. This project will also follow the BOOT model.
Swan Defence and Heavy Industries
The Gujarat-based company reported a net profit of Rs 566.44 crore for the quarter, compared with a loss of Rs 0.55 crore in the year-ago period. The reported profit includes the write-back of excess provisions made in earlier years, as disclosed in its financial results.
Indian Hotels Company (IHCL)
The hospitality major signed 47 hotel deals and opened 20 properties in the first half of FY27, taking its portfolio to 670 properties. Luxury-segment signings included four Taj hotels, one Brij hotel and one Atmantan property. Ginger and Tree of Life accounted for 19 signings in the mid-scale segment.
JM Financial
JM Financial (Middle East) Limited has been incorporated as a wholly owned step-down subsidiary of the financial services group. The entity will undertake activities including arranging investment deals, custody and credit facilities, investment and credit advisory services, and asset management. Its entire share capital will be held by JM Financial Overseas Holdings Private Limited, a wholly owned subsidiary of JM Financial.
Karur Vysya Bank
The private sector lender has entered into an agreement with Zurich Kotak General Insurance Company to distribute general insurance products to its customers.
Vikran Engineering
The company's wholly owned subsidiary, NOPL Solar Projects Private Limited, has signed a rupee term loan facility agreement of up to Rs 2,941.19 crore with the Indian Renewable Energy Development Agency (IREDA). The financing will partly fund a 969 MWac/1,163 MWp solar photovoltaic project spread across 152 locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY) scheme. The project has an estimated cost of Rs 4,201.70 crore.
TD Power Systems
The company's fund-raising committee has approved the allotment of 77,41,935 equity shares to eligible qualified institutional buyers at Rs 775 per share, aggregating to approximately Rs 600 crore, through a qualified institutional placement (QIP). The issue price includes a premium of Rs 774 per share and a 0.05% discount to the floor price of Rs 775.35. The QIP opened on October 7 and closed on October 12, 2026.
Goodluck India
The company's subsidiary, Goodluck Defence & Aerospace Limited, has emerged as the sole technically qualified bidder to supply specialised 155 mm HE M1A4 ready-to-fill artillery shells to Munitions India Limited. The development follows an audit and technical evaluation of existing suppliers.
PTC India Financial Services
The company's board has approved a one-year extension of Rajiv Malhotra's tenure as managing director and chief executive officer (additional charge), from December 1, 2026, to November 30, 2027. The extension will be on the same terms and conditions and is subject to shareholder approval. His current tenure runs until November 30, 2026.
Q2 results today
Hero Motors, ICICI Prudential Life Insurance Company, Transformers and Rectifiers (India), Tata Elxsi, State Trading Corporation of India, ARSS Infrastructure Projects, Bagri Minerals & Chemicals, DEN Networks, Dharti Industries, Eimco Elecon (India), GTPL Hathway, India Gelatine & Chemicals, India Tourism Development Corporation, Mapro Industries, Mudra Financial Services, Mukta Arts, PNB Gilts, Sejal Glass, Shree Krishna Infrastructure, SS Retail, Talwalkars Better Value Fitness and TRF.
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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