The Indian equity benchmarks staged a recovery from lower levels in late morning deals on Friday, October 16. According to reports from The Economic Times, the SENSEX rose as much as 765 points from the day's lowest level and the NIFTY50 index touched an intraday high of 23,150. As of 12:40 pm, the SENSEX was up 410 points at 74,725 and the NIFTY50 index advanced 140 points to 23,137. The recovery was led by gains in index heavyweights including Bharti Airtel, Infosys, Tata Consultancy Services, Tech Mahindra, Mahindra & Mahindra, Bajaj Finance and HDFC Bank.
HBL Engineering shares rose as much as 15% to an intraday high of ₹814 amid significant trading activity spikes. According to reports from The Economic Times, the stock witnessed a spike in trading activity as volumes jumped by 14.9 times to 1.29 crore shares compared with an average volume of 8.65 lakh shares. The surge was attributed to Tonbo Imaging, in which HBL Engineering holds a significant stake, witnessing high demand during the ongoing share sale via IPO. Tonbo Imaging was subscribed 5.45 times by 12:00 pm on the second day of subscription.
Wipro Limited reported consolidated revenue from operations of ₹247,527 million for Q2 FY27, reflecting a sequential growth of 1.12% compared to ₹244,786 million in Q1 FY27 and a 9.06% year-on-year increase compared to ₹226,973 million in Q2 FY26. As reported by The Economic Times, the company recorded consolidated net profit of ₹31,997 million for Q2 FY27, demonstrating steady profitability across operations. Standalone revenue from operations reached ₹189,416 million in Q2 FY27, showing growth from ₹184,182 million in Q1 FY27 and ₹177,700 million in Q2 FY26. Standalone net profit stood at ₹28,627 million for the quarter, compared to ₹28,657 million in Q1 FY27 and ₹26,142 million in Q2 FY26.
Several other stocks experienced significant volume increases during the trading session. According to The Economic Times, L&T Finance saw trading volume jump by 6.5 times to 6.52 lakh shares compared with an average volume of 99,880 shares on the NSE. Bharat Electronics witnessed a volume spike of 3.8 times to 1.66 crore shares compared with average volume of 43.54 lakh shares on the NSE. Meanwhile, Bharat Electronics recorded 8.09 lakh shares changed hands on the BSE compared with average of 5.97 lakh shares traded daily in the past two weeks.
