13/10/26, HCL Technologies

The share price of HCL Technologies surged nearly 5% in early trade today, October 13. The company is in focus after it declared its earnings for the second quarter of financial year 2027 (Q2FY27). The HCLTech share price rose to a high of Rs 1,282.7 apiece in early trade today.

For Q2 FY27, HCL Tech posted its net profit at Rs 5,132 crore, rising 11% quarter-on-quarter. Its revenue was Rs 35,620 crore, up 3% QoQ. The company’s earnings before interest and tax (EBIT) margin was at 18.2%, rising 131 basis points QoQ and 71 bps YoY.

Japanese brokerage Nomura has raised its target price for the stock after the results on strong performance in the services segment and continued growth in artificial intelligence-led revenues. However, brokerage Nuvama Institutional Equities sees only a marginal upside.

Nomura on HCLTech: Strong services performance

Nomura maintained its ‘Buy’ rating on the stock and increased its price target 1.5% to Rs 1,330 apiece. This implies an upside of nearly 9% from the stock’s closing price of Rs 1,223 on Monday.

The brokerage also raised its FY27 and FY28 estimated earnings per share (EPS) view by 2-3% to factor in the Q2FY27 earnings performance. Nomura has marginally raised its revenue growth estimate for the company, in dollars, to 3-5.9% year-on-year in FY27-FY28.

HCLTech revised its revenue growth guidance to 3-4% for services from 1.5-4.5%. For the overall company, it revised revenue growth guidance to 2.5-4% from 1-4% earlier. “This includes inorganic contribution of 62bp (basis points) and 87bp for services and overall company, respectively. HCLTech clarified that the mega deal (USD1bn+) won in early July would ramp up meaningfully only in 1QFY28E. Additionally, according to management, the anticipated weakness in top telco accounts and a top manufacturing account has played out and discretionary demand in telcos remains uncertain,” Nomura said.

The company noted steady progress across the five key pillars of its AI strategy. It said advanced AI revenues are around 6% of annualised revenues and that two of its recently won large advanced AI deals were sourced through partner relationships.

Nuvama on HCLTech: Unfavourable risk-reward

Nuvama Institutional Equities has maintained its ‘Hold’ rating on the stock and its target price of Rs 1,250 is also unchanged. This implies a mere upside of 2%. The company’s services business is quite stable but the software business is dragging overall growth, Nuvama said, adding that the risk to reward is unfavourable as it is already at a 20% premium to TCS or Infosys, with a similar growth.

“While it continues to do reasonably well—the narrowing growth differential, software segment drag and margin headwinds limit the upside potential,” Nuvama said.

HCLTech appears to reach close to the mid-point of its margin guidance, though further expansion in FY28 might be hampered by the large auto segment deal.

HCLTech share price: What next for investors 

Overall, HCLTech has maintained the upper band of their FY27 revenue guidance at 4%. The lower band has been raised to 2.5% from 1% earlier. The management indicated that they are optimistic about the outlook ahead and added that demand was healthy towards the end of the quarter. However, it remained cautious given the fluid macro environment. The rupee and global headwinds will also be in focus and it will be interesting how it impacts the next two quarters.

Written by Ashuthosh Pati

Source: FinancialExpress

13/10/26, PostMarket

13th October 2026: The Indian stock market ended Tuesday’s trading session on a strong note, with the Sensex surging 1,109.10 points, or 1.54%, to close at 73,033.78. The Nifty 50 also rallied 358.60 points, or 1.6%, to settle at 22,721.95.

On the sectoral front, auto,  financial services, FMCG and metal stocks ended in positive territory. The Nifty IT index led the gains, surging over 5% as information technology stocks witnessed strong buying interest during the session.

A combination of factors is supporting the IT rally, including better-than-expected second-quarter results from Tata Consultancy Services (TCS) and, HCL Tech a slowdown in the artificial intelligence (AI) trade and the US dollar’s rise against the rupee.

Written by Ashuthosh Pati and Olivia Kunjumon 

Source: FinancialExpress

13/10/26, BandanBank shares raise

Bandhan Bank shares surged more than 7 percent on Tuesday, emerging as the top midcap gainer, following reports that Abu Dhabi-based International Holding Company (IHC) is among the potential investors in the private lender's promoter entity, Bandhan Financial Services (BFSL).

The stock climbed 7.3 percent to Rs 169 in morning trade, taking its gains so far in 2026 to 17.2 percent, compared with a 14 percent decline in the Nifty 50.' Bandan Banks market capitalisation stood at approximately Rs 27,210 crore.

 IHC, associated with Sheikh Tahnoon bin Zayed al-Nahyan, Abu Dhabi's deputy ruler and the UAE's national security adviser, is in preliminary discussions to acquire a stake in BFSL, The Economic Times reported on Tuesday, citing people familiar with the development.

According to the report, BFSL is working with investment bank Jefferies to identify strategic investors for a 25-32 percent stake. The proposed transaction could provide an exit opportunity for longstanding institutional investors, including Singapore's GIC and the International Finance Corporation (IFC), whose combined holding of approximately 30.3 percent could be valued at $500-600 million.

Bandhan Group's restructuring plans

The potential investment comes as BFSL undertakes a major restructuring exercise aimed at facilitating exits for existing shareholders, monetising stakes in group businesses and raising capital for Bandhan Bank. Moneycontrol reported last week that the group had appointed Jefferies to advise on the restructuring, potentially its first major exercise of this kind in nearly 25 years.

GIC, through its investment arm Caladium Investment, holds 16.7 percent of BFSL, while IFC owns 13.59 percent. Both have been invested in the group since 2014 and are seeking opportunities to monetise their holdings after more than a decade. The restructuring could extend beyond a change in BFSL's shareholder base, with the group also exploring partial stake sales in Bandhan Bank and its asset management business.

Bandhan Financial Holdings, a subsidiary of BFSL, owns approximately 60 percent of Bandhan AMC, while GIC and ChrysCapital together hold the remaining 40 percent. The group is understood to be exploring potential investors who could provide liquidity to existing shareholders in the asset management business.

A share buyback at the BFSL level is another possibility, although the holding company's cash balance of Rs 837 crore as of March 31, 2026, could constrain such a transaction, Moneycontrol reported. Valuation remains a potential obstacle to stake monetisation in Bandhan Bank, with an open-market stake sale reportedly being considered as a last resort.

Promoter stake reduction by 2030

The restructuring also comes against the backdrop of regulatory requirements governing promoter shareholding in Bandhan Bank. Bandhan Financial Holdings held a 37.5 percent stake in the private sector lender at the end of June 2026. Under the bank's licensing conditions, the promoter must reduce its holding to 26 percent by 2030. A stake sale at the bank level could help the promoter meet this regulatory obligation, while an investment at the BFSL level would primarily provide liquidity to existing shareholders of the holding company

Written by Shaleen Agrawal

Source: Network18 

13/10/26, PolyCab India shares

Shares of Polycab India fell over 5% to an intraday low of Rs 7,995 on the National Stock Exchange on Ocotber 13 after the exchange notified it would exclude the company from the equity derivatives segment under the Insolvency and Bankruptcy Code framework. At 11:20 am, shares of the company  were trading 3% lower at Rs 8,156 apiece. Over 500,000 shares of the company changed hands on the bourse so far, almost fivefold the number of shares traded till the same time Monday.

No new futures and options contracts of Polycab will be introduced after the October contracts expire, NSE said, adding that existing October, November and December contracts will remain available until their respective expiry dates. Derivatives contract trading in the stock will halt from December 30.

The move follows insolvency proceedings initiated against the company, although NCLAT has stayed the NCLT order.

In an exchange filing, Polycab India said the National Company Law Appellate Tribunal had stayed and kept in abeyance the October 7 order passed by the National Company Law Tribunal, Ahmedabad Bench, admitting the corporate insolvency resolution process against the company in a case filed by Asier Metals Pvt. Ltd. The proceedings relate to an alleged Rs 2.8 crore operational debt.

Brokerage Motilal Oswal said Polycab will likely be removed from the MSCI index as the firm's policy dictates excluding stocks under insolvency procedures. Existing constituents undergoing insolvency, which are a part of one of MSCI indices, enter an ineligible alert board and are deleted on the last business day of the month, the brokerage noted, reported Informist.

Report by Network18 

13/10/26, market intraday news

Benchmark indices Sensex  and Nifty gained 0.8% each on October 13 due to various reasons, including value buying.

At 9:49 am, the Sensex was up 657.10 points or 0.91% at 72,581.78, and the Nifty was up 198.90 points or 0.89% at 22,562.25. About 1,525 shares advanced, 1,707 shares declined, and 168 shares were unchanged.

Key factors behind market gain

1) Value buying

Value buying emerged at lower levels on October 13.

2) India VIX eases

India VIX, the volatility gauge, eased 3% to 14.82, which indicates market participants don't see much selling pressure in short term.

3) Technical reason

Nifty has to trade below 22,300 for further weakness to emerge in the markets, said analysts.

"If Nifty holds the 22,350–22,400 support zone, a buy-on-dips approach may work, with the possibility of a move towards 22,600. However, failure to sustain the recovery could bring selling pressure back into the market.

"For now, the broader view remains cautious, and traders should watch how the index behaves around these key levels rather than chase the initial gap-up. A decisive breakout above resistance or a breakdown below support will provide a clearer indication of the next directional move," said Gaurav Udani, Founder, Thincredblu Securities.

4) Buying in IT shares

Buying in IT shares lifted the markets on October 13 with Nifty IT index rising 2.5%. TCS, HCL Tech, Tech Mahindra were among top Nifty gainers by rising 2%-5%.

Report by J. Jagannath

Source: Network18

13/10/26, Gift Nifty signalling positivity

Indian benchmark indices Sensex and Nifty are likely to open on a mildly positive note on Tuesday, with GIFT Nifty signalling gains despite a sharp selloff across Asian markets. However, India's higher-than-expected retail inflation, elevated crude oil prices and escalating Middle East tensions could weigh on sentiment. Expectations of further RBI interest-rate hikes also add to concerns over the domestic outlook.

GIFT Nifty was trading at 22,425 around 8 am, up 55 points, or 0.25 percent. Indian equities ended sharply lower on Monday, with the Sensex falling 547.65 points, or 0.76 percent, to 71,924.68 and the Nifty declining 157.10 points, or 0.70 percent, to 22,363.35. Foreign institutional investors remained net sellers, offloading equities worth Rs 1,700 crore, while domestic institutions bought shares worth more than Rs 3,000 crore.

India's retail inflation rises to 5.54 percent

India's retail inflation accelerated to a higher-than-expected 5.54 percent in September, moving closer to the Reserve Bank of India's upper tolerance limit of 6 percent and strengthening expectations of further interest-rate hikes. The increase comes amid sustained pressure from elevated crude oil prices and a weak monsoon, with the Iran war, now in its eighth month, continuing to disrupt energy supplies and fuel inflation concerns.

The inflation reading follows the RBI's decision earlier this month to raise the repo rate by 25 basis points to 5.50 percent, its first increase since February 2023, and shift its policy stance to calibrated tightening. The combination of higher inflation and tighter monetary conditions could add to pressure on rate-sensitive sectors.

13/10/26, Expecting Positive Opening

 Indian benchmark indices are likely to open on a firm note on October 13, tracking GIFT Nifty, which was trading higher at around 22,415.50 in early trade

After rebounding in the previous session, Indian equity benchmarks came under renewed selling pressure on October 12, with the Nifty slipping towards 22,300 amid losses in IT, FMCG and financial stocks.

At close, the Sensex was down 547.65 points or 0.76 percent at 71,924.68, and the Nifty was down 157.10 points or 0.70 percent at 22,363.35.

Broader markets outperformed the benchmark indices, with the Nifty Midcap index ending flat, while the Nifty Smallcap index advanced 1.4%.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

GIFT Nifty was trading higher at around 22,415.50 in early trade, indicating a positive start for the domestic equity markets.

Asian Markets (Slip)

Asian stocks declined as the artificial intelligence trade, one of the hottest corners of the market this year, came under renewed pressure ahead of a key earnings season.

The MSCI Asia Pacific Index lost 0.9%, set for its weakest close since mid-August, as shares retreated in South Korea and Japan.

The Kospi Index — a barometer for the AI trade — slipped as much as 4.8%, set for its lowest close since July as chip bellwethers SK Hynix Inc. and Samsung Electronics Co. both tumbled more than 5%. The Nikkei 225 Index dropped 2% after traders in Tokyo returned after a long weekend.

US Equities (Down)

The technology-heavy Nasdaq composite closed lower on Monday as oil prices jumped nearly $2 a ​barrel after attacks on a Saudi airport, and investors waited for banks to kick off the third-quarter earnings season and for economic data this week.

The S&P ‌500 ended the session barely lower while the Dow advanced.

The Dow Jones Industrial Average rose 195.60 points, or 0.38%, to 51,850.55; the S&P 500 lost 4.30 points, or 0.06%, to 7,807.24 and the Nasdaq Composite lost 120.27 points, or 0.44%, to 27,245.90.

Dollar Index (Down)

The dollar held its ground at the start of Asian trading on Tuesday after a holiday for some markets in the US, as geopolitical risks rose after renewed attacks on energy infrastructure in the Middle East and Ukraine.

US Bond Yield (Down)

The yield on 10-year Treasuries declined three basis points to 5.2%, while 2-year Treasuries were down marginally at 4.77%.

Asian Currencies (Down)

Asian currencies traded lower against the US dollar, with the South Korean won leading the losses, declining 0.214 percent, followed by the Taiwan dollar, which fell 0.175 percent. The Philippine peso and Indonesian rupiah also depreciated by 0.129 percent and 0.078 percent, respectively. The Thai baht, Chinese renminbi and Malaysian ringgit edged lower by 0.027 percent, 0.016 percent and 0.015 percent, respectively. Meanwhile, the Japanese yen appreciated 0.152 percent and the Singapore dollar remained unchanged.

Crude (Down)

Oil prices edged lower on Tuesday after climbing by nearly $2 a barrel in the previous session, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.

Brent crude futures fell 61 cents, or 0.57%, to $106.04 a barrel while US West Texas Intermediate crude futures were down 47 cents, or 0.5%, at $93.27 a barrel.

Brent futures settled at $106.65 a barrel on Monday, the highest since September 15.

Gold (Slips)

Gold held a loss as the spreading conflict in the Middle East stoked fears that further energy supply disruptions could keep inflation elevated and increase the prospects for interest-rate hikes.

Bullion traded near $4,160 an ounce, after ending the previous session 0.5% lower.

Fund Flow Action

Foreign institutional investors (FIIs) remained net sellers on October 9, offloading equities worth Rs 1,700 crore, while domestic institutional investors (DIIs) continued to support the market, purchasing equities worth over Rs 3,000 crore during the session.

Hope you're all set for today's trade. We wish you a profitable day ahead

Report by Mr Rakesh Patil

Source: Network18