The Indian stock market extended its gains for a second consecutive session on Friday, with the Sensex climbing more than 400 points and the Nifty 50 moving above the 23,146 level. Information technology stocks led the rally, rising by more than 3%.
As investors track corporate earnings, quarterly results and company announcements, several stocks are likely to remain in focus on October 19. These include ICICI Bank, HDFC Bank, Axis Bank, Yes Bank, RailTel Corporation of India, GPT Infraprojects, ACME Solar, Urban Company, LCC Projects and Zen Technologies. Several companies are also scheduled to announce their Q2 FY27 results.
Q2 FY27 Results Scheduled for Today
A number of companies are set to release their financial results for the second quarter of FY27. The list includes Bajaj Finance, UltraTech Cement, L&T Technology Services, Union Bank of India, Bhansali Engineering Polymers, Delta Corp, Elevate Campuses, HFCL, Hindustan Zinc, Just Dial, Piramal Finance, SML Mahindra, Sobha, Tatva Chintan Pharma Chem, Varmora Granito and Waaree Renewable Technologies.
Investors will monitor these announcements for updates on company performance and business outlook.
RailTel, Vedanta, TVS Srichakra and Other Corporate Updates
RailTel Corporation of India: RailTel has received a Letter of Acceptance (LoA) worth ₹167.52 crore from the Railway Recruitment Board (RRB), Secunderabad. The contract covers the provision of AM-RMS services during the pre-examination and post-examination stages of the RRB recruitment process. The company has also secured a purchase order worth ₹18.99 crore from Health Insurance TPA of India for IT infrastructure and cybersecurity services over three years.
Vedanta: Vedanta plans to increase the annual production capacity of its South African zinc business to 500,000 tonnes. The expansion involves an investment of approximately $600 million in the second phase of the Gamsberg project, which operates under Vedanta Zinc International.
TVS Srichakra: The company has approved additional capital expenditure of ₹49.20 crore for online balancing initiatives and the removal of production bottlenecks. The plans include expanding curing capacity at its manufacturing facilities in Madurai, Tamil Nadu, and Uttarakhand. These measures are expected to raise two-wheeler and three-wheeler tyre production capacity by 6–7%, with the increase scheduled to take effect from January 2027.
Axiscades Technologies: The company’s board has approved the appointment of Uttam Kumar Bhagaria as CFO-Designate. The appointment will become effective on October 21.
GPT Infraprojects: The company has secured a ₹149.5 crore order from the Chief Signal and Telecommunications Engineer of Western Railway’s Bhavnagar Division. It has also received a separate work order worth ₹134.11 crore for signalling work from Western Railway’s Ratlam Division.
LCC Projects: LCC Projects has received tender approval from the Gujarat government for a water supply project estimated at ₹151.57 crore. The project involves transporting water from Machhu-I Dam to the Triveni Thanga Reservoir and several villages in the Wankaner and Chotila talukas. The contract includes engineering, procurement and construction (EPC) work, along with operation and maintenance responsibilities for 10 years after commissioning.
ICICI Bank, HDFC Bank, Axis Bank and Yes Bank: Q2 Performance
ICICI Bank: The bank reported a 20.1% year-on-year increase in standalone profit to ₹14,843 crore in the second quarter, compared with ₹12,358.9 crore a year earlier. Net interest income (NII) rose 17.7% to ₹25,338.7 crore from ₹21,529.5 crore. Provisions and contingencies fell 6.9% to ₹850.7 crore, against ₹914.1 crore in the corresponding period last year. On a quarterly basis, gross non-performing assets (NPAs) declined from 1.38% to 1.20%, while net NPAs fell from 0.35% to 0.30%. The bank has also sought Reserve Bank of India (RBI) approval to continue Pradeep Kumar Sinha’s appointment as non-executive part-time chairperson.
HDFC Bank: Standalone profit increased 4.7% year-on-year to ₹19,510 crore, compared with ₹18,641.3 crore in the same quarter last year. Net interest income grew 9.7% to ₹34,619.2 crore from ₹31,551.5 crore. Provisions and contingencies rose 2.1% to ₹3,573.6 crore, compared with ₹3,500.5 crore previously. Gross NPAs declined from 1.17% to 1.11%, while net NPAs decreased from 0.41% to 0.37%.
Axis Bank: The bank recorded a 35.6% rise in standalone profit to ₹7,003.3 crore in the second quarter, up from ₹5,089.6 crore a year earlier. Net interest income increased 11.8% to ₹15,371.4 crore from ₹13,745 crore. Provisions and contingencies dropped 52.2% to ₹1,693.7 crore, compared with ₹3,547 crore in the previous year. Gross NPAs declined from 1.28% to 1.16% on a quarterly basis, while net NPAs fell from 0.39% to 0.35%. The bank has appointed Rahul Shukla as Group Head, Commercial and India Banking, effective October 19.
Yes Bank: Standalone profit surged 65% year-on-year to ₹1,080 crore, compared with ₹654 crore in the same quarter last year. Net interest income rose 22.7% to ₹2,822 crore from ₹2,301 crore. Provisions and contingencies declined 24.2% to ₹317 crore, against ₹419 crore previously. Gross NPAs decreased from 1.3% to 1.2% on a quarterly basis, while net NPAs remained unchanged at 0.2%.
Amber Enterprises, RBL Bank and JSW Steel in Focus
Amber Enterprises: IL JIN Electronics (India), a subsidiary of Amber Enterprises India, has signed a share-swap agreement to acquire the remaining 40% stake in Power-One Micro Systems on a fully diluted basis. The acquisition covers 1.75 lakh equity shares. In exchange, IL JIN Electronics will issue 1.76 lakh Series A3 Compulsory Convertible Preference Shares (CCPS A3) to the sellers at an issue price of ₹10,000 per share.
Separately, IL JIN Electronics has entered into another share-swap agreement with Manju Thomas to acquire the remaining 1.50% stake in Ascent Circuits. The transaction covers 23,401 equity shares on a fully diluted basis. In return, Manju Thomas will receive 13,120 Series A2 Compulsory Convertible Preference Shares (CCPS A2), each issued at ₹10,000.
RBL Bank: The bank has received approval from the Reserve Bank of India to merge all Indian branches of Emirates NBD Bank PJSC into RBL Bank. The merger is scheduled to take effect on December 1, 2026.
JSW Steel: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the merger of Piombino Steel with JSW Steel.
Disclaimer: This article is intended for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Stock prices and market conditions can change, and investors should conduct their own research or consult a qualified financial adviser before making investment decisions.
