Stocks in news: Adani Enterprises, Hyundai Motor India, BHEL, BEL, Groww, Tata Elxsi and RailTel

Indian equities staged a strong recovery on Tuesday, with benchmark indices gaining more than 1.5% each as improving investor sentiment was supported by Finance Minister Nirmala Sitharaman’s comments on long-term capital gains (LTCG) tax and securities transaction tax (STT), a rally in information technology stocks and other positive cues.

The Nifty 50 climbed 358 points, or 1.60%, to close at 22,722. On the technical front, the immediate support zone for the index is placed at 22,500–22,550, while resistance is seen in the 22,850–23,000 range, according to Hitesh Tailor, Technical Research Analyst at Choice Broking. A sustained breakout above this resistance band could pave the way for a further recovery, he said.

Against this backdrop, shares of Adani Enterprises, Hyundai Motor India, Bharat Heavy Electricals (BHEL), Bharat Electronics (BEL), Groww, Tata Elxsi, RailTel Corporation of India and several other companies are likely to remain in focus on Wednesday, October 14, as investors track quarterly earnings, business developments, fresh orders, investment plans and other corporate announcements.

Adani Enterprises

Adani Enterprises has signed a non-binding memorandum of understanding (MoU) with Jabil Inc. to establish a 50:50 joint venture for manufacturing and assembling artificial intelligence (AI) and data centre equipment in India.

The proposed venture aims to develop a multi-gigawatt AI infrastructure platform. Its planned product portfolio includes AI racks, servers, storage and networking equipment, power distribution units, liquid-cooling systems and transformers.

Hyundai Motor India

Hyundai Motor Group has announced a comprehensive investment strategy for India, committing $15.5 billion over the 2026–2032 period.

The investment underscores India's strategic importance to the Group's long-term growth ambitions, expansion across emerging markets and development of next-generation automotive technologies.

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Tata Elxsi

Tata Elxsi reported a net profit of Rs 170.3 crore for the second quarter, marginally lower than Rs 170.6 crore in the preceding quarter.

Revenue rose 3.4% quarter-on-quarter to Rs 1,055.7 crore from Rs 1,021.1 crore. Earnings before interest and tax (EBIT) increased 7.2% to Rs 207.7 crore from Rs 193.7 crore.

The EBIT margin improved to 19.68%, compared with 18.97% in the previous quarter, indicating an improvement in operating profitability despite the slight dip in net profit.

Bharat Electronics

State-run defence electronics manufacturer Bharat Electronics (BEL) has secured additional orders worth Rs 533 crore since its previous disclosure on September 17, 2026.

The orders cover communication equipment, avionics, cybersecurity solutions, drones, jammers, software solutions, upgrades, spares and services. The fresh wins add to the company's order pipeline across multiple defence and technology segments.

Transformers and Rectifiers

Transformers and Rectifiers reported a sharp improvement in its second-quarter financial performance, with net profit rising to Rs 79.8 crore from Rs 33.9 crore in the year-ago period.

Revenue increased 60.7% year-on-year to Rs 739.4 crore from Rs 460 crore. EBITDA climbed to Rs 128.8 crore from Rs 51.6 crore, while the EBITDA margin expanded to 17.4% from 11.2%.

The company also reported a one-time exceptional gain of Rs 131.4 crore during the quarter, a factor investors may consider while assessing the reported earnings.

Anand Rathi Shares and Stock Brokers

Anand Rathi Shares and Stock Brokers posted a 48.4% year-on-year increase in net profit to Rs 42.3 crore for the second quarter, compared with Rs 28.5 crore in the corresponding period last year.

Revenue rose 20.1% to Rs 273 crore from Rs 227 crore, reflecting growth in the company's reported financial performance.

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Gujarat State Fertilizers & Chemicals

Gujarat State Fertilizers & Chemicals (GSFC) has approved the establishment of phosphoric acid (PA) and sulphuric acid (SA) plants at its Sikka unit in Jamnagar, Gujarat.

Approved by the board at its meeting on October 13, 2026, the project will have planned capacities of 600 metric tonnes per day (MTPD) for phosphoric acid and 1,800 MTPD for sulphuric acid, along with associated offsite facilities and utilities.

The proposed investment forms part of the company's strategic growth and backward integration roadmap, aimed at securing a reliable internal supply of raw materials.

Hindustan Oil Exploration

Hindustan Oil Exploration has appointed Debabrata Das as its Chief Financial Officer (CFO), effective October 16.

Allen Andrade will step down from the CFO position with effect from October 15, the company said.

RailTel Corporation of India

RailTel Corporation of India has received a work order worth Rs 48.98 crore, inclusive of taxes, from the Higher Education Department of the Odisha government.

Under the contract, the company will develop 83 digital application modules and integrate them with the department's existing enterprise resource planning (ERP) system. The project is scheduled for completion by May 10, 2027.

Lemon Tree Hotels

Lemon Tree Hotels has announced the addition of Keys Select by Lemon Tree Hotels, Bareilly, to its development pipeline.

The property will operate under a franchise agreement, expanding the hospitality group's presence in the region.

Q2 Results Today: Companies to Watch

Bharat Heavy Electricals (BHEL), Billionbrains Garage Ventures (Groww), Canara Bank, ICICI Lombard General Insurance Company, HDB Financial Services, Mangalore Refinery and Petrochemicals, Tata Technologies, Emmvee Photovoltaic Power, Leela Palaces Hotels & Resorts, CEAT, Elecon Engineering Company, Bajaj Consumer Care, Hathway Cable and Datacom, Reliance Industrial Infrastructure, Aditya Birla Money, Sonaselection India, Viji Finance, Indus Finance, Raj Tube Manufacturing Company, Bacil Pharma, Sulabh Engineers & Services, Polycon International and AURIQUE.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here