Indian equity markets are set to resume trading on Wednesday, November 11, after remaining closed on Tuesday for the Diwali–Balipratipada holiday. According to reports from The Financial Express, GIFT Nifty signals a quiet start for the Indian equity markets. The Nifty 50 rose 58 points, or 0.23%, to settle at 25,045 on Monday, with intermittent profit booking following the recent rally capping upside. From a technical perspective, the immediate resistance for the Nifty is placed in the 25,150–25,200 zone, as noted by Ponmudi R, CEO of Enrich Money. A sustained move above this range could strengthen upward momentum and pave the way for further gains.
Kalyan Jewellers delivered impressive second quarter results for FY27, with net profit surging 64% year-on-year to ₹427 crore. As reported by The Financial Express, the company reported consolidated revenue of ₹10,323 crore, registering growth of 31% YoY. The company's EBITDA increased 29.7% to ₹644 crore for the quarter, though EBITDA margin contracted slightly to 6.2% from 6.3% in the previous year. For the first half of FY27, the company's net profit grew 48% to ₹776 crore against ₹525 crore in the year-ago period, with revenue rising 38% to ₹20,912 crore compared to ₹15,125 crore in H1 FY6.
MRF posted a 23% YoY decline in Q2 FY27 net profit to ₹386.99 crore, down from ₹527.43 crore in the year-ago period, according to latest reports. However, the tyre manufacturer demonstrated robust operational performance with consolidated total income rising significantly to ₹8,791.58 crore from ₹7,489.00 crore in Q2 FY6. The company capitalised on sustained demand from both original equipment manufacturers (OEMs) and the replacement segment, which contributed to the strong double-digit sales growth. The profit decline was attributed to steep increases in raw material prices driven by global uncertainties, with the company implementing price increases and cost-saving measures to mitigate adverse effects. After accounting for a tax provision of ₹134.82 crore, MRF's consolidated net profit for the quarter was ₹386.99 crore. The company's Board of Directors declared an interim dividend of ₹3 per share (30%) for FY27, reflecting its commitment to shareholder value despite challenging market conditions.
Cochin Shipyard reported a 50% YoY decline in net profit to ₹53.7 crore against ₹107.7 crore in the year-ago period, as reported by The Financial Express. Despite the profit decline, the company's revenue from operations rose 12% YoY to ₹1,249.2 crore. IIFL Finance announced a significant partnership with Blackstone, which will infuse ₹5,000 crore as part of the NBFC's ₹6,414 crore fundraising, with Blackstone acquiring around 16% diluted stake. Meanwhile, Ashoka Buildcon received a letter of acceptance from the National Highways Authority of India for a ₹865.90 crore project for the Vadodara-Mumbai Expressway in Gujarat.
