Key Stocks to Watch on October 31

By siliconindia  |  Friday, 31 October 2025, 09:36:42 AM IST

Key Stocks to Watch on October 31
  • Equity markets likely to open flat amid a busy Q2 earnings session.
  • Reliance, ITC, Swiggy, and Bandhan Bank remain in focus for key financial updates.
  • Mixed results across sectors steady growth for FMCG giants, profit pressure for banks and realty firms.

The Indian equity market is expected to open on a flat note on Friday, October 31, as investors keep a close watch on a long list of companies announcing their second-quarter (Q2) earnings. According to the morning update, as many as 76 companies are scheduled to release their results today, including Maruti Suzuki India Ltd (MSIL), Vedanta, Bharat Electronics Ltd (BEL), Bank of Baroda, BPCL, GAIL India, Shriram Finance, ACC, Patanjali Foods, Sammaan Capital, and Zensar Technologies.

Reliance Industries in Focus: Reliance Industries Ltd (RIL) is likely to remain in the spotlight after BofA Securities bought 2.95 lakh shares of the oil-to-telecom conglomerate through an open market transaction on Thursday.

The purchase, valued at around Rs 43.62 crore, was executed at an average price of Rs 1,475.50 per share, according to data from the National Stock Exchange (NSE). The shares were acquired by BofA Securities Europe SA, a subsidiary of Bank of America Corporation.

ITC Reports Steady Profit, Delists from CSE

Diversified conglomerate ITC Ltd reported a consolidated net profit of Rs 5,186.55 crore for the September quarter, compared to Rs 5,054.43 crore in the same period last year. The company’s revenue from operations slipped slightly to Rs 21,255.86 crore from Rs 21,536.38 crore.

ITC said the results are not strictly comparable due to the merger of its subsidiaries, Sresta Natural Bioproducts Pvt Ltd and Wimco Ltd, with the parent company. The Board also approved the voluntary delisting of ITC’s shares from the Calcutta Stock Exchange (CSE). Additionally, it recommended the appointment of Amitabh Kant as an independent director for five years, effective January 1, 2026.

Swiggy’s Loss Widens Despite Revenue Growth

Food delivery and quick commerce giant Swiggy reported a widened consolidated net loss of Rs 1,092 crore in Q2 FY26, compared to Rs 626 crore a year earlier. However, revenue from operations grew strongly to Rs 5,561 crore from Rs 3,601 crore last year.

The company also announced that its board will meet on November 7 to consider raising Rs 10,000 crore through a qualified institutional placement (QIP). Swiggy said that with its cash reserves and a recent Rs 2,400 crore divestment from Rapido, it remains well-funded for future growth amid a competitive market environment.

Bandhan Bank Sees Sharp Fall in Profit

Bandhan Bank reported a steep fall in post-tax profit to Rs 112 crore for the September quarter, down from Rs 937 crore in the same quarter last year. The bank’s operating profit also dropped to Rs 1,310 crore from Rs1,855 crore.

Managing Director and CEO Partha Pratim Sengupta said the results were transitional and attributed the dip to the repo rate cut and deposit repricing. He added that the bank’s focus will now be on increasing its CASA deposits and improving profitability in the coming quarters.

DLF’s Profit Declines, Bookings Surge

Realty major DLF Ltd reported a 15% decline in consolidated net profit to Rs 1,180.09 crore for Q2 FY26, compared to Rs 1,381.22 crore last year. However, the company saw a massive jump in sales bookings, which surged over six times to Rs 4,332 crore, driven by strong demand for its newly launched Mumbai project. DLF’s revenue from operations fell to Rs 1,643.04 crore from Rs 1,975.02 crore a year ago, but total income increased slightly to Rs 2,261.80 crore.

NTPC Declares Interim Dividend

Power producer NTPC Ltd posted a 3% year-on-year rise in net profit to Rs 5,225.30 crore for the September quarter, compared to Rs 5,380.25 crore last year.

Total income came in at Rs 45,262.10 crore, almost unchanged from a year ago, while expenses declined marginally to Rs 40,218.03 crore. The company’s board also declared an interim dividend of Rs  27.75 per share for FY26.

Nippon Life Sees Drop in Profit

Nippon Life India Asset Management Ltd reported a 4% decline in profit after tax (PAT) to Rs345 crore for Q2 FY26, compared to Rs 360 crore in the same quarter last year. Despite the drop in profit, revenue from operations rose 15% to Rs 658 crore from Rs 571 crore a year ago, driven by higher assets under management and improved fee income.

Dabur India Posts Moderate Growth

FMCG major Dabur India Ltd recorded a 6.53% increase in consolidated net profit at Rs  444.79 crore for the September quarter, compared to Rs 417.52 crore a year ago. Revenue from operations grew to Rs 3,191.32 crore from Rs 3,028.59 crore.

CEO Mohit Malhotra said the company maintained steady growth despite transitional GST headwinds and a challenging economic environment, reaffirming its market leadership across core product categories.

IEX Reports Higher Profit

The Indian Energy Exchange (IEX) reported a 14% rise in consolidated net profit to Rs 123.34 crore in Q2 FY26, up from Rs 108.32 crore a year ago. Total income grew to Rs 183.26 crore from Rs 167.76 crore, supported by higher trading volumes and steady demand in the power market.

Also Read: Indian Equities Gear Up for a Positive Thursday

Pidilite and United Spirits Post Solid Results

Adhesives and sealants manufacturer Pidilite Industries reported an 8.2% increase in consolidated net profit to Rs 584.6 crore for the September quarter, compared to Rs 540.3 crore last year. Revenue rose to Rs 3,554.44 crore from Rs 3,234.91 crore, driven by demand in the construction and industrial segments.

Meanwhile, United Spirits Ltd, controlled by Diageo, posted a strong 36% jump in consolidated net profit to Rs 464 crore in Q2 FY26, compared to Rs  341 crore last year. Revenue increased by nearly 8% to Rs 7,199 crore, supported by premium product demand and cost efficiency.

Market Outlook

With a heavy line-up of earnings announcements, investors are likely to focus on company-specific developments and Q2 performance trends. Analysts expect stock-specific movements to dominate market sentiment, while the overall indices may remain range-bound amid mixed global cues.

As the earnings season continues, market participants will closely track profit margins, demand recovery, and management commentary to gauge the outlook for the second half of FY26.

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