Indian equity markets are set for a record opening on Thursday, with the Gift Nifty, an early indicator for the Nifty 50 index, edging 325 points higher at 8:40 a.m. IST.  

The markets reached a one-year high on Monday, led by buying in banks, energy and IT stocks. The benchmark indices ended marginally higher on the special 'Muhurat Trading' session on Tuesday, with the Sensex gaining 0.07% and the Nifty climbing 0.10% higher.

Asian markets were trading mixed on Thursday. Japan's Nikkei was the biggest laggard, while the bourses in Shanghai, Shenzhen and Taiwan declined too. The primary index in Thailand was the top gainer.

At the time of writing, the gold spot price fell 0.36% to $4,083.05 per ounce. Brent crude traded up 2.33% at $64.05 per barrel.

Stock Watch

Bharat Electronics: Received a ₹633 crore order from Cochin Shipyard for sensors, weapon systems, and communication equipment, reinforcing its defence order book.

Punjab National Bank: PNB has divested 10% of its stake in Canara HSBC Life Insurance, raising ₹1,007 crore by selling 9.5 crore shares at ₹106 each, thereby reducing its holding to 13%.

Dr. Reddy's Laboratories: The USFDA has issued a Voluntary Action Indicated (VAI) status for Dr. Reddy's Srikakulam plant, closing the inspection with no significant observations.

Torrent Pharmaceuticals: Received CCI approval for its ₹19,500 crore acquisition of JB Chemicals & Pharmaceuticals, with minor voluntary modifications.

Tata Motors: Delivered over one lakh passenger vehicles during the 30-day festive period, marking a 33% YoY rise, driven by strong SUV and EV demand.

Ola Electric: Karnataka High Court grants temporary protection to CEO Bhavish Aggarwal and a senior executive amid an ongoing probe into an engineer's death, which the company denies involvement in.

Kirloskar Ferrous Industries: Bagged a ₹358 crore contract from ONGC for the supply of EUE tubing, pup joints, and crossovers, expanding its presence in the energy sector.

HCL Technologies: Partnered with Dubai Islamic Bank to drive AI adoption across the bank's ecosystem and strengthen its global digital transformation footprint.

NMDC: Revised iron ore prices effective October 22, with Baila Lump set at ₹5,550 per tonne and Baila Fines at ₹4,750 per tonne.

Lloyds Metals and Energy: Completed the acquisition of a 49.99% stake in Thriveni Pellets and allotted ₹285.88 crore worth of shares to Adler Industrial Services.

Fusion Finance: Secured IRDAI's Corporate Agent (Composite) license, enabling it to offer insurance products alongside financial services.

Zaggle Prepaid Ocean Services: Signed a five-year deal with Megha City Gas Distribution to provide its Zaggle Fleet Program for efficient expense management.

Nectar Lifesciences: Fully repaid secured debt of ₹1,338.35 crore, leading to the release of all consortium charges on company assets.

Rubicon Research: Subsidiary Advagen Holdings will invest up to $3 million in Gen1E Lifesciences through a Series Prime Preferred Stock acquisition.

United Breweries: Heineken reported mid-single-digit revenue growth in India despite volume declines due to heavy monsoons, with premium brands like Kingfisher Ultra Max driving gains.

Filatex India: Signed an MoU with Revti Business and Wastewear to collaborate on textile waste recycling, product innovation, and global co-branding.

Gulshan Polyols: Received ethanol supply orders worth ₹1,184.86 crore from oil marketing companies for ESY 2025–26.

LTIMindtree: President & Whole-time Director Nachiket Deshpande has resigned, effective October 31.

Bharti Airtel: Shivan Bhargava, Director – Customer Experience, has resigned and will transition out of the company within 3, 4 months.

Quarterly Earnings Highlights

Jain Resource Recycling: Q2 consolidated profit surged 77.7% YoY to ₹99.2 crore from ₹55.8 crore, while revenue rose 51.8% to ₹2,113.7 crore. The company also signed a joint venture with C & Y Group Investments to set up a recycling and manufacturing facility in Gujarat.

Epack Prefab Technologies: The company reported a 104.2% YoY jump in profit to ₹29.5 crore, with revenue up 61.9% to ₹433.9 crore, reflecting strong execution and demand momentum.

Q2 Results Today

Hindustan Unilever, Colgate Palmolive (India), Laurus Labs, PTC India Financial Services, Tata Teleservices (Maharashtra), Fabtech Technologies, Jumbo Bag, Andhra Cements, Sagar Cements, South India Paper Mills, and Vardhman Textiles.

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