Stocks in news: RIL, Wipro, Jio Financial, Tata Communications, YES Bank, PNB

Indian equity benchmarks staged a broad-based rebound on Thursday, with the Sensex and Nifty gaining more than 1% as buying momentum strengthened through the session. The Nifty 50 closed at 22,997, rising 375 points, or 1.66%.

From a technical perspective, the 23,000–23,100 zone remains an immediate resistance level for the Nifty, according to Ponmudi R, CEO of Enrich Money. A sustained breakout above this range could reinforce bullish momentum and open the door for a move towards 23,300–23,400, he said.

Against this backdrop, shares of Reliance Industries, Wipro, Jio Financial Services, Tata Communications, Punjab National Bank (PNB), YES Bank and several other companies are likely to remain in focus on Friday, October 16, as investors track quarterly earnings, corporate announcements, fundraising plans and legal developments.


Read more: Jio IPO Bonanza: How global investors’ stakes have grown since 2020

Reliance Industries

Akash Ambani has set his sights on securing a significant share of India's projected $1.4 trillion digital economy by FY31. He has highlighted Jio Platforms' technology capabilities, growing patent portfolio and nationwide 5G network to investors ahead of the company's record Rs 30,000 crore IPO. Jio's public offering is scheduled to open for subscription on October 21 and close on October 23.

Wipro

The Bengaluru-based IT services company expects revenue growth in the third quarter of FY27 to range between -1.5% and 0.5% sequentially in constant currency terms.

Wipro reported revenue of $2,611.5 million in the second quarter, down 0.1% from the June quarter. Revenue in rupee terms rose 0.8% sequentially to Rs 24,667 crore from Rs 24,478.6 crore. Net profit declined to Rs 3,199.7 crore from Rs 3,352 crore in the preceding quarter.

Tata Communications

The company's consolidated net profit surged 86.3% year-on-year to Rs 341 crore in Q2FY27, compared with Rs 183 crore a year earlier.

Revenue from operations increased 9.6% to Rs 6,688 crore from Rs 6,100 crore in the corresponding quarter of the previous fiscal year. EBITDA rose 21.1% year-on-year to Rs 1,422 crore from Rs 1,174 crore, reflecting an improvement in operating performance.

Jio Financial Services

The financial services company reported a 51% year-on-year decline in profit after tax to Rs 340 crore in Q2FY27, compared with Rs 695 crore in the year-ago quarter. However, pre-provisioning operating profit rose 85% to Rs 574 crore from Rs 310 crore a year earlier, indicating an improvement in operating earnings despite the decline in reported profit.

Tech Mahindra

The IT services company announced that its net profit increased 6.7% sequentially to Rs 1,586 crore from Rs 1,486 crore, while revenue rose 3% to Rs 16,180.2 crore from Rs 15,712 crore.

Tech Mahindra also declared an interim dividend of Rs 15 per share and approved a 1:1 bonus issue, subject to shareholder and other applicable approvals.

Angel One

The brokerage announced an interim dividend of Rs 1.40 per share. Net profit rose 44.7% quarter-on-quarter to Rs 334.9 crore from Rs 231.4 crore.

Revenue remained broadly flat at Rs 1,426.9 crore, compared with Rs 1,429.7 crore in the previous quarter.

YES Bank

The Supreme Court on Thursday upheld the Bombay High Court's 2023 ruling quashing YES Bank's decision to write off Additional Tier-1 (AT-1) bonds worth approximately Rs 8,415 crore during its 2020 financial crisis. The development brings the lender's handling of the AT-1 bond write-off back into focus.

Persistent Systems

The IT services company reported a 27.2% sequential decline in net profit to Rs 352 crore from Rs 483 crore. Revenue in rupee terms increased 8.4% quarter-on-quarter to Rs 4,664 crore from Rs 4,303 crore. In dollar terms, revenue rose 7.8% to $487.6 million from $452.4 million.

Mankind Pharma

The pharmaceutical company said that NSE Sustainability Ratings and Analytics, a SEBI-registered ESG rating provider, had independently assigned it an environmental, social and governance (ESG) score of 71 for FY26. The company clarified that it had not engaged the agency for the assessment, which was based on publicly available information.

Q2 Results Today

DLF, Punjab National Bank, LTM, Federal Bank, Bajaj Housing Finance, Oberoi Realty, Himadri Speciality Chemical, Urban Company, Jindal Saw, E2E Networks, Crompton Greaves Consumer Electrical, Ujjivan Small Finance Bank, Jayaswal Neco Industries, Tejas Networks, Raghav Productivity Enhancers, SG FINSERVE, Shoppers Stop, Solara Active Pharma Sciences, Indo Rama Synthetics (India), Aurum Proptech, Paushak, Modison, Benares Hotels, Amal, Onward Technologies, Bright Outdoor Media, Artson, Tiger Logistics India, Gujarat Hotels, HOMRE and Citi Port Financial Services.


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