TCS Leads Market Buzz as Key Earnings and Big Deals Steal the Spotlight
- TCS leads the earnings season with an 8.4% profit rise, stronger margins, and new AI infrastructure plans.
- Natco Pharma wins big as the Delhi High Court clears its launch of a low-cost generic Risdiplam.
- NTPC Green Energy boosts renewables with a massive 15 GW MoU for solar and wind projects in Gujarat.
The Indian stock market is set for another busy day on October 10, with several major companies announcing quarterly results, key business developments, and new deals. Here’s a quick round-up of the top stocks likely to be in focus in today’s trading session.
Quarterly Results to Watch
Several companies will be announcing their quarterly earnings today, including Elecon Engineering Company, Indosolar, Waaree Renewable Technologies, Yash Highvoltage, GK Energy, Hathway Bhawani Cabletel & Datacom, AAA Technologies, Affordable Robotic & Automation, Evoq Remedies, Intense Technologies, Oswal Overseas, and Pro Fin Capital Services.
On October 11, Avenue Supermarts and Euro Pratik Sales will release their financial results.
TCS Q2 Earnings
Tata Consultancy Services (TCS) reported an 8.4% year-on-year (YoY) increase in net profit at Rs 12,904 crore compared to Rs 11,909 crore last year. Revenue grew 2.4% YoY to Rs 65,799 crore, while EBIT jumped 7.1% to Rs 16,565 crore. The company’s operating margin also expanded to 25.17%, up from 24.06% last year.
TCS’s total contract value stood at $10 billion, showing solid business momentum. The company also announced the acquisition of ListEngage, a leading Salesforce Summit partner. Additionally, TCS is setting up a new business entity to build world-class AI infrastructure, including a 1 GW capacity AI data center in India, signaling its aggressive expansion in the AI space.
Tata Elxsi Q2 Earnings
Tata Elxsi posted a 32.5% decline in profit, which stood at Rs 154.8 crore against Rs 229.4 crore last year. Revenue fell by 3.9% to Rs 918.1 crore, while other income dropped 24% to Rs 48.8 crore. The weaker numbers were mainly due to slower demand in some verticals and project delays, which affected quarterly performance.
5Paisa Capital Q2 Results
5Paisa Capital reported a 56.7% fall in profit to Rs 9.5 crore from Rs 21.9 crore last year. Revenue also dropped 23.4% YoY to Rs 77.2 crore. The fall in numbers reflects the impact of slower retail trading activity and higher operational costs.
ICICI Prudential Life Monthly Update
ICICI Prudential Life Insurance reported a 0.84% month-on-month (MoM) decline in new business premium to Rs 1,761 crore. However, the annualised premium equivalent (APE) rose 20.6% to Rs 871 crore. Retail APE also showed strong growth of 25%, reaching Rs 739 crore, indicating improved traction in the individual insurance segment.
Key Stocks in News
Afcons Infrastructure: The company has secured an order worth Rs 576 crore for civil and allied infrastructure works, strengthening its project pipeline across India.
Lloyds Engineering Works: Lloyds Engineering signed an MoU with FlyFocus Sp. z o. o. to jointly develop and manufacture the Defender SIGINT UAV, a next-generation unmanned aerial platform for intelligence and surveillance applications.
NTPC Green Energy: NTPC Green Energy’s subsidiary, NTPC Renewable Energy, signed an MoU with the Gujarat Government for the development of 10 GW of solar projects and 5 GW of wind projects in the state a massive step towards boosting renewable energy capacity in India.
RailTel Corporation of India: RailTel received a Letter of Intent (LoI) from the Centre for e-Governance (CEG), Karnataka, for a project worth Rs 18.22 crore involving OEM support for routers and switches under the KSWAN 2.0 initiative.
Capri Global Capital: The diversified NBFC has appointed Monu Ratra as its new Chief Executive Officer (CEO) to strengthen leadership and drive growth across its lending businesses.
Mahindra & Mahindra: Mahindra reported a 24.4% YoY rise in production to 99,758 units in September, while sales increased 13.9% to 97,744 units. Exports also surged 44%, signaling robust demand in both domestic and international markets.
Natco Pharma: In a major legal win, the Delhi High Court dismissed an appeal by Swiss drugmaker F. Hoffmann-La Roche AG, paving the way for Natco Pharma to launch a generic version of Risdiplam, used to treat Spinal Muscular Atrophy. Natco announced it will launch the drug immediately at an MRP of Rs 15,900, making the treatment more affordable in India.
MIRC Electronics: Authum Investment & Infrastructure has increased its stake in MIRC Electronics to 21.25%, with a total investment of Rs 131.62 crore through the preferential allotment of 7.83 crore shares at Rs 16.81 each.
Bulk Deals: TechEra Engineering: Ace investor Ashish Kacholia bought 2 lakh shares personally and 1.12 lakh shares through his investment firm at Rs 247.1 per share, totaling a 1.89% stake worth Rs 7.72 crore. Meanwhile, other investors sold off their stakes, leading to a reshuffle in the company’s shareholding.
Tarmat: Arton Global acquired 4.7 lakh shares (1.95% stake) at Rs 52.86 per share, valued at Rs 2.5 crore, while Aegis Investment Fund and Dove Soft exited the stock.
Dynamatic Technologies: Samena Special Situations Mauritius III sold 72,000 shares (1.06% stake) at Rs 6,800.65 per share, worth Rs 48.96 crore.
Listings and Corporate Actions
- Mainboard Listing: WeWork India Management debuts on the mainboard today.
- SME Listing: NSB BPO Solutions lists on the SME exchange.
- Stocks Trading Ex-Dividend: Hexaware Technologies, Rashtriya Chemicals and Fertilizers, Sacheta Metals.
- Stocks Trading Ex-Bonus: Valiant Communications, Harshil Agrotech, Narmada Macplast Drip Irrigation Systems, Purity Flexpack, Ujaas Energy.
- Stock Split Ex-Date: AGI Infra.
- Rights Issue Ex-Date: Capital Trust, Magnus Steel and Infra.
F&O Ban
RBL Bank is the only stock currently under the Futures and Options (F&O) ban today.
