Indian equity benchmark indices staged a broad-based rebound on Thursday, with the BSE Sensex closing at 74,315.61, up 1,533.72 points or 2.11%, while the Nifty 50 settled at 22,997.35, gaining 374.65 points or 1.66%. The rally was led by gains in Private Bank, IT and Auto stocks amid the weekly expiry of Sensex contracts. From a technical perspective, the 23,000–23,100 zone remains an immediate resistance level for the Nifty, according to Ponmudi R, CEO of Enrich Money. A sustained breakout above this range could reinforce bullish momentum and open the door for a move towards 23,300–23,400. However, global markets showed mixed performance with the Dow Jones Industrial Average up 301.41 points (0.58%) at 51,922.89, while the S&P 500 fell 36.01 points (0.47%) to 7,682.93 and the Nasdaq Composite dropped 316.005 points (1.18%) to 26,376.863. The GIFT NIFTY futures suggest that the NIFTY50 index will open 107 points higher on Friday, October 16.
Several major stocks are set to be in focus when markets open on October 16, following the release of Q2 FY27 results and other corporate developments. According to reports from The Financial Express, Wipro, Persistent Systems, Tech Mahindra, HDFC Life, IRFC and Bharat Dynamics are among the key stocks to track for the day. The earnings announcements cover various sectors including IT services, insurance, railway financing, and defence contracts. Bajaj Housing Finance Ltd, Crompton Greaves Consumer Electricals Ltd, DLF Ltd, E2E Networks Ltd, Federal Bank Ltd, Himadri Speciality Chemical Ltd, Jindal Saw Ltd, LTM Ltd, Oberoi Realty Ltd, Punjab National Bank, Shoppers Stop Ltd, Solara Active Pharma Sciences Ltd, Tejas Networks Ltd, Ujjivan Small Finance Bank Ltd and Urban Company Ltd are among the companies reporting results today.
Wipro's Q2 FY27 results showed mixed performance with revenue meeting estimates but profit declining. According to latest consolidated results, revenue reached ₹24,753 crore, slightly above estimates of ₹24,710 crore, while EBIT came in at ₹3,986 crore versus estimates of ₹4,018 crore with EBIT margin at 16.1%, below estimates of 16.26%. Net profit declined to ₹3,200 crore from ₹3,352 crore in the preceding quarter, though this was better than the estimated ₹3,306 crore. The company demonstrated sequential growth with revenue up 1.1% from ₹24,479 crore and EBIT up 4.1% from ₹3,830 crore in the previous quarter. IT services revenue reached ₹24,667 crore, representing approximately 1% year-on-year growth. For the October-December quarter, Wipro expects IT services revenue of $2,571-$2,625 million, which translates to a sequential change of (-) 1.5% to (+)0.5% in constant currency. Wipro CEO and Managing Director Srini Pallia said the third quarter would remain affected by seasonal furloughs.
Persistent Systems delivered mixed financial results with headline profit impacted by acquisition-related expenses. According to latest consolidated results, revenue grew 8.4% quarter-on-quarter to ₹4,664 crore from ₹4,303 crore, though EBIT margin declined to 10% from 13.5% and EBIT fell 19.6% to ₹467 crore from ₹581 crore. Net profit declined 27.1% to ₹352 crore from ₹483 crore quarter-on-quarter, primarily due to the one-time expense of ₹185.34 crore tied to its proposed Nagarro acquisition. However, excluding this impact, PAT rose 5% to ₹495.15 crore in the previous quarter. The company demonstrated strong revenue performance with growth of 30.3% year-on-year to ₹4,663.9 crore.
Tech Mahindra delivered exceptional quarterly performance with consolidated net profit jumping 32.74% to ₹1,585.6 crore for Q2 FY27, driven by strong volume growth, cost savings, and rupee depreciation. The company's revenue from operations rose 15.6% to ₹16,180.2 crore during the quarter, up from ₹13,994.9 crore in Q2 FY26, with sequential growth of 3%. Sequentially, profit and revenue were up by 8% and 3% respectively. The company's board has recommended a 1:1 bonus issue, marking the first bonus issue in 11 years since March 2015. The bonus shares are expected to be credited by December 15, with the company posting a net profit of ₹1,194.5 crore in the year-ago period. This represents a significant turnaround from the ₹3,246.2 crore net profit in the year-ago period.
L&T Finance reported robust growth with total income growing 27% to ₹5,484 crore from ₹4,336 crore YoY and net profit surging 32.7% to ₹975 crore from ₹735 crore. HDFC Life showed strong insurance performance with net premium income growing 15.8% to ₹21,856 crore and net profit rising 16.5% to ₹522 crore from the previous year. Angel One reported improved profitability with net profit growing 45% to ₹335 crore and EBITDA margin expanding to 44.6% from 33.9% quarter-on-quarter. Yes Bank faced regulatory challenges with AT1 bonds suspended before the Supreme Court delivered its judgment, though Kotak Mahindra AMC had proactively suspended subscriptions as a prudent measure to safeguard investor interests.
