Top 10 Stocks to Track as Q2 Numbers Roll In
- Sensex +40 pts, Nifty +41 pts; midcaps, smallcaps outperform.
- SBI, Adani, Paytm, IndiGo Q2 results; Airtel, Titan strong profits.
- Cipla acquisition, Zydus fundraise, Vodafone Idea AGR relief.
Indian markets closed on a modestly positive note on Monday, November 3, amid mixed global cues and ongoing Q2 earnings announcements. The Sensex inched up 40 points to end at 83,978.49, while the Nifty 50 added 41 points, or 0.16%, to settle at 25,763.35.
In contrast, broader markets outperformed, with the BSE Midcap index rising 0.62% and the Smallcap index climbing 0.71%. Market sentiment remained stock-specific as investors focused on corporate earnings and sectoral performance.
Vinod Nair, Head of Research at Geojit Financial Services, said, “The domestic market ended on a marginally positive note as profit booking was visible at higher levels due to the absence of fresh domestic triggers. The broader market outperformed since the quarterly earnings are guiding investor sentiment in the short to medium term. PSU banks continue to attract interest due to strong earnings and improving asset quality, while IT stocks faced selling pressure amid fading expectations of a U.S. Fed rate cut”.
Key Stocks to Watch
State Bank of India (SBI), Adani Enterprises, Mahindra & Mahindra, One97 Communications (Paytm), India Hotels, and InterGlobe Aviation (IndiGo) will be in focus today as these companies are set to announce their second-quarter (Q2) results.
Titan Company reported a 59% year-on-year (YoY) jump in its consolidated net profit to Rs 1,120 crore for Q2, supported by robust demand across its jewellery and watch segments.
Vodafone Idea received a major relief as the Supreme Court allowed the Centre to review and reconcile its adjusted gross revenue (AGR) dues. This review will not be restricted to the financial year 2016–17, which could ease financial pressure on the telecom operator.
Bharti Airtel delivered a strong Q2 performance with an 89% YoY rise in consolidated net profit to Rs 6,792 crore, compared to Rs 3,593 crore in the same period last year. The growth was driven by higher data usage, improved ARPU, and continued expansion in its subscriber base.
Zydus Lifesciences announced that its board will meet on November 6 to consider raising up to Rs 5,000 crore through a Qualified Institutional Placement (QIP), rights issue, preferential allotment, or private placement.
Cipla said it will acquire a 100% stake in Inzpera Healthsciences Ltd for around Rs 110.65 crore, making it a wholly owned subsidiary. The deal, valued at Rs 120 crore enterprise value, is expected to close within a month, subject to standard conditions.
Bharti Hexacom, a subsidiary of Bharti Airtel, reported a 66.4% YoY increase in net profit to Rs 421 crore for Q2 FY26, supported by rising ARPU and higher mobile data consumption.
Power Grid Corporation of India posted a nearly 6% drop in its Q2 profit, citing increased expenses and delays in project awards and execution as key factors.
Gland Pharma reported a rise in consolidated net profit to Rs 184 crore for the quarter ended September 30, compared with Rs 164 crore in the same quarter last year, supported by better product mix and export performance.
Hero MotoCorp sold 6.36 lakh units in October, marking a 6.5% decline from 6.79 lakh units in the same month last year. The slowdown was attributed to softer demand in rural areas and delayed festive season sales.
With Q2 earnings driving stock-specific actions and global factors influencing sentiment, investors are expected to focus on company results, especially from the banking, telecom, and pharma sectors, in the sessions ahead.
