The Indian stock market mirrored the global sentiment on Thursday, remaining volatile in sync with the US markets. Wall Street’s positive momentum was supported by strong quarterly earnings from major American banks such as Morgan Stanley and Bank of America, setting a cautiously optimistic tone for global investors.
However, rising geopolitical concerns around crude oil purchases from Russia and mixed Q2 corporate earnings in India kept traders on edge.
The US government hinted that India may gradually reduce crude imports from Russia, though no official confirmation came from New Delhi. Washington also urged China to curb its crude purchases from Moscow, citing that such trade indirectly funds the ongoing Ukraine war.
Crude prices continued their decline, trading at US $62.38 per barrel, offering some relief to oil-importing economies like India.
On the institutional front, Foreign Institutional Investors (FIIs) were net buyers of ₹69 crore, while Domestic Institutional Investors (DIIs) made heavy purchases worth ₹4,650 crore, indicating sustained domestic confidence.
Banking earnings took center stage today:
- Indian Bank reported a profit jump from ₹2,706 crore to ₹3,018 crore. NII rose to ₹6,551 crore from ₹6,194 crore, and Net NPA improved to 0.16%.
- Indian Overseas Bank (IOB) posted a sharp rise in profit to ₹1,220 crore from ₹777 crore. NII grew to ₹3,159 crore, while Net NPA fell to 0.28%.
- South Indian Bank also reported improvement in asset quality, with Gross NPA easing to 2.90%.
These strong results point to improving credit quality and robust retail growth in the Indian banking sector.
The IT sector remained in focus with top companies announcing mixed Q2 results:
- Infosys’ profit increased to ₹7,365 crore from ₹6,921 crore, with revenue up to ₹44,490 crore. EBIT margin stood at 21%, while the company declared a ₹23 dividend (record date: October 27).
- Wipro reported a slight profit dip to ₹3,246 crore, though revenue increased to ₹22,641 crore. Margins improved marginally to 16.7%.
- LTI Mindtree posted profit growth to ₹1,381 crore, with revenue rising to ₹10,394 crore and a ₹22 dividend (record date: October 24).
Overall, the IT majors maintained profitability despite global macro uncertainty, aided by efficiency and stable deal pipelines.
- Larsen & Toubro (L&T)’s profit and revenue surged, supported by new infrastructure orders. The company bagged a ₹3,200 crore metro project in Gujarat.
- KEC International secured ₹1,038 crore worth of new orders.
- NTPC Green Energy commissioned a 12.5 MW solar power project in Bhuj.
- Bharat Forge signed a key agreement with Rolls-Royce to supply fan blades — a strategic move enhancing its aerospace footprint.
- Oberoi Realty and Rosario Bio saw profit and income rise but margins slipped.
- Delta Corp and Kewal Kiran’s margins declined despite higher revenues.
- MRPL swung back to profit; revenue rose, margin fell.
- Adani Green Energy increased operational capacity by 49% to 16.7 GW, with energy sales up 39% to ₹1,957 crore.
- BEL secured a ₹592 crore defense order.
- D-Mart expanded further with new stores in Karnataka, now operating 434 stores nationwide.
- Jindal Steel signed a $150 billion deal with Harsco Environmental to double slag processing capacity.
- TVS Motor launched the TVS Aapa RTX, priced at ₹1.99 lakh.
- Rain Industries partnered with Green Graphite Technology for next-gen battery materials.
- Kajaria Ceramics’ profit jumped from ₹84 crore to ₹133 crore, with margins expanding to 18%.
- KEI Industries reported higher profits but saw stock pressure due to slower growth.
- HDB Financial Services posted higher profit, NII, and total income.
- Dabur got relief from the Income Tax Department as its tax demand was reduced from ₹219 crore to ₹202 crore.
- Nestlé India’s profit rose to ₹986 crore and revenue grew to ₹5,644 crore, with double-digit domestic volume growth.
The IPO market remained energetic this week:
- Tata Capital and LG India kicked off their billion-dollar IPOs, setting up a potential $5 billion record month.
- Canara HSBC Life Insurance, Rubicon Research, and Canara Robeco AMC IPOs closed with mixed responses.
- Upcoming SME IPOs include Jain Resource Recycling (₹2,000 Cr), Park Medi World (₹1,260 Cr), and Saatvik Green Energy (₹1,150 Cr), among others.
Meanwhile, Nykaa raised ₹500 crore via QIP, IRB Infrastructure announced a ₹1,000 crore rights issue, and Paytm secured ₹300 crore to strengthen its lending arm.
- Tata Power formed a JV with Hitachi Energy for smart grid solutions.
- Infosys acquired a US-based AI startup for $120 million.
- Mahindra & Mahindra merged its EV subsidiary with Automobili Pininfarina to expand global reach.
- Sun Pharma acquired a Japanese dermatology brand to strengthen its skincare portfolio.
- Auto: Maruti Suzuki exports up 12% YoY; Tata Motors bagged a new fleet order from Uber India; Ashok Leyland won a 1,937-bus order from Tamil Nadu STU.
- Banking: Axis Bank launched a new digital lending platform; SBI to expand branches in Tier-2 cities.
- Pharma: Cipla got USFDA approval for a new respiratory drug, while Lupin launched a diabetes treatment in India.
In today’s trade, Oberoi Realty emerged as the top gainer, while KEI Industries was the top loser. The overall sentiment remained range-bound yet resilient, with investors digesting a flurry of Q2 results and global cues.
The October earnings season has kicked off on a balanced note. Strong results from Infosys, Indian Bank, and IOB contrast with muted performances from Wipro and Delta Corp. With oil prices softening and IPO activity heating up, the market seems to be consolidating before the next big breakout.
As investors await further clarity on global crude dynamics and Q2 corporate guidance, the next few sessions could see selective stock-specific action, especially in IT, banking, and renewable energy sectors.
Published by Barawakar | Market Wrap – 16 October 2025
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