Indian equity markets are set for a positive start on Friday, October 16, building on a strong performance in the previous session driven by supportive global cues. GIFT Nifty futures on the NSE International Exchange indicated an upward trend, rising 87.70 points, or 0.38 percent, to 23,072.50.
Corporate Actions Today
Several companies are scheduled for corporate actions today. Shares of HCL Technologies, Canara Robeco Asset Management Company, and Hindustan Composites will trade ex-dividend. Bansal Wire Industries is set to trade ex-split, while Noble Polymers will trade ex-date for consolidation.
Key Stocks in Focus
Tech Mahindra
The IT solutions major reported a significant 32.7 percent year-on-year jump in net profit, reaching Rs 1,585.6 crore for the September 2026 quarter. Revenue also saw a healthy increase of 15.6 percent year-on-year, totaling Rs 16,180.2 crore. The company's board declared an interim dividend of Rs 15 per share and approved a 1:1 bonus issue.
Wipro
Another IT giant, Wipro, reported a 1.4 percent year-on-year decline in net profit, settling at Rs 3,200.6 crore for the quarter ended September 30, 2026. Consolidated revenue, however, increased by 9.06 percent year-on-year to Rs 24,752.7 crore. The company's EBIT margins dropped by 20 basis points to 16.5 percent, with IT services revenue projected at $2,571 million sequentially.
YES Bank
The Supreme Court on Thursday dismissed appeals filed by YES Bank, the Reserve Bank of India (RBI), and the Centre. These appeals challenged the Bombay High Court's January 2023 judgment that quashed the write-off of Rs 8,415 crore in Additional Tier-1 (AT1) bonds. The bonds were written down to zero during the bank's reconstruction in March 2020 amid a severe crisis.
Jio Financial Services
The financial services firm reported a 51.1 percent year-on-year drop in net profit, amounting to Rs 340.44 crore for Q2FY26. Despite this, consolidated total income surged by 132 percent year-on-year to Rs 1,699 crore. Pre-provision operating profit (PPOP) increased 85.2 percent year-on-year to Rs 574 crore, and Net Interest Income (NII) soared 165 percent year-on-year to Rs 680 crore.
Premier Energies
Premier Energies' subsidiary, Premier Battery Technologies, has entered into a strategic joint venture with RCT Energy India, part of Germany's RCT Group. This collaboration will establish Premier Energies Storage Solutions (PESSPL) to set up a Battery Energy Storage System (BESS) manufacturing facility with a total capacity of 12 GWh.
Mankind Pharma
The pharmaceutical company plans to acquire a majority stake in Armed Cell Therapeutics BV, a Belgium-based biotechnology firm. The acquisition, valued at 48 million euros, focuses on developing next-generation chimeric antigen receptor T-cell (CAR-T) therapies for cancer. Armed Cell Therapeutics possesses a pipeline of CAR-T assets, with lead programs targeting non-Hodgkin lymphoma and small cell lung cancer.
Solar Industries India
Solar Explochem, a subsidiary of Solar Industries India, has signed a share purchase agreement to acquire a 100 percent stake in Sivasakthi Industrial Explosives for Rs 115.02 crore.
Agastya Energy & Infrastructure
Agastya Energy & Infrastructure has secured an engineering, procurement, and construction (EPC) and operations and maintenance (O&M) contract valued at Rs 106.04 crore from its subsidiary, IMC Solar BDN LLP, for a solar power plant project.
SIMCA Advertising
The media and advertisement player, SIMCA Advertising, has been awarded advertising rights at Shirdi Airport in Maharashtra by the Maharashtra Airport Development Company Limited (MADC). The allotment covers advertising spaces on the external part of the airport terminal.