Indian equity markets are poised for a gap-down opening on Wednesday, October 28, 2026, with GIFT Nifty futures on the NSE International Exchange indicating a weak start. The futures were down 229.80 points, or 1.01%, trading at 22,614. This cautious sentiment comes ahead of significant events, including the US Federal Reserve's policy outcome, the much-anticipated listing of Jio Platforms, a rebound in global AI stocks, and mixed global cues.
Key Stock Market Debuts
Jio Platforms: The leading telecom and digital entity is set to make its stock market debut today, October 28. This follows a successful IPO that raised Rs 30,213 crore between October 21-23. Shares were sold at Rs 1,119 apiece, with a lot size of 12 equity shares. The issue garnered immense interest, attracting a record 1.4 crore applications and bids worth Rs 4.9 lakh crore.
Paras Healthcare: The hospitality chain will also commence its stock market journey on Wednesday, October 28. The company successfully raised Rs 1,450 crore from its maiden stake sale, conducted from October 21-23. Shares were priced at Rs 693 with a lot size of 21 equity shares. The IPO was subscribed 2.34 times, receiving 2.7 lakh applications.
Corporate Earnings and Developments
Larsen & Toubro (L&T): The infrastructure giant reported a robust performance for the September 2026 quarter. Its net profit surged by 33% year-on-year to Rs 5,202 crore, while revenue increased by 16% year-on-year to Rs 78,750 crore. EBITDA saw a 1% year-on-year rise to Rs 6,845 crore, although margins dipped to 8.7% for the quarter. Order inflow also demonstrated strong growth, increasing by 28% year-on-year to Rs 1.47 lakh crore.
Maruti Suzuki India: The country's largest carmaker experienced a 26.4% year-on-year decline in net profit, settling at Rs 2,466.1 crore for the July-September 2026 period. This occurred despite a 26% year-on-year rise in revenue to Rs 53,355.5 crore. Operating profit was down to Rs 2,804 crore, even as total sales volumes grew by 26.5% year-on-year to 6.97 lakh units.
Lemon Tree Hotels: The hospitality player announced a license agreement for a new Lemon Tree Hotel in Sirhind, Punjab. This 76-room property will be managed by its subsidiary, Carnation Hotels.
Tata Motors: The homegrown automobile major's tender offer to acquire Italian commercial vehicle maker Iveco Group has crossed the crucial 80% threshold. Provisional results indicate that the offeror will hold an 89.42% stake in Iveco, net of treasury shares.
Mishra Dhatu Nigam (Midhani): The defence sector player has signed a Memorandum of Understanding (MoU) with the Heavy Water Board (HWB) and the Bhabha Atomic Research Centre (BARC) for collaboration on the recovery of nickel and cobalt from plant reverts, promoting sustainable manufacturing.
Exide Industries: The battery and energy solutions provider has invested Rs 150 crore in its subsidiary, Exide Energy Solutions, via a rights issue. This funding will support the subsidiary's greenfield plant in Bengaluru, dedicated to manufacturing lithium-ion battery cells, modules, and packs.
Gulf Oil Lubricants India: The company informed stock exchanges about a fire incident at its warehouse in Umbergaon, Gujarat. Fortunately, no injuries or casualties were reported. The company is currently assessing the damage, and the affected warehouse is insured, with necessary claims to be filed.
Other Stocks and Events to Watch
Shares of Cyient and Nippon Life India Asset Management will trade ex-dividend today. Automobile Corporation of Goa shares will trade ex-date for a buyback. Several prominent companies, including Hero MotoCorp, Adani Enterprises, Hindustan Unilever, Adani Ports and SEZ, and Bandhan Bank, are scheduled to announce their quarterly results today, which could further influence market movements.