From The Economic Times · Kumar Gaurav · · 3m
Stocks in News: Reliance, Eternal, Alkem Labs and Others
Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy and GMDC lead Thursday's market focus amid earnings and regulatory updates.
In brief
Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy and GMDC lead Thursday's market focus amid earnings and regulatory updates. Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy and GMDC are key stocks for Thursday's market as investors track September-quarter earnings, credit ratings, fundraising…
Market Moves
Indian equities reversed early gains on Wednesday as selling pressure in banking stocks and the broader market dragged benchmarks lower, offsetting strength in information technology shares.
Nifty 50 Declines
The Nifty 50 declined 77.60 points, or 0.34%, to close at 22,811.35.
Market Focus
Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy, GMDC and other stocks are likely to remain in focus on Thursday, October 22.
Reliance Credit Ratings
ICRA reaffirmed its credit ratings of [ICRA]AAA (Stable) on Reliance Industries' non-convertible debenture programme worth Rs 12,000 crore and bank loan facilities worth Rs 50,000 crore.
Eternal Q2 Results
Eternal reported a 92.3% year-on-year increase in consolidated net profit to Rs 125 crore for the second quarter of FY27, compared with Rs 65 crore a year earlier.
Eternal Revenue
Revenue from operations surged 77.6% to Rs 24,138 crore from Rs 13,590 crore in the year-ago quarter.
Indian Hotels Company
Indian Hotels Company reported a 19.5% year-on-year increase in net profit to Rs 380 crore for the September quarter, compared with Rs 318 crore in the corresponding period last year.
Mahindra Financial Services
Mahindra & Mahindra Financial Services posted a 55% year-on-year increase in net profit to Rs 882 crore in the second quarter of FY27, compared with Rs 569 crore in the year-ago period.
KEI Industries
KEI Industries reported a 29.3% year-on-year increase in second-quarter profit after tax to Rs 262.4 crore, while revenue rose 38.5% to Rs 3,776.4 crore.
Bharat Electronics
The Ministry of Defence signed a Rs 770 crore contract with Bharat Electronics (BEL) for the supply of improved low-level light-weight radar (LLLR-I) systems to the Indian Army.
Persistent Systems
Persistent Systems has launched a qualified institutional placement (QIP) to raise up to $450 million, or approximately Rs 4,265 crore.
Gujarat Mineral Development Corporation
Gujarat Mineral Development Corporation presented a dividend cheque of Rs 223.55 crore to the Gujarat government, representing the state's share of the company's final dividend for FY26.
Alkem Laboratories
Alkem Laboratories' audit committee approved the initiation of a forensic audit into an incident involving alleged misappropriation of funds by a former employee.
Tata Communications
Tata Communications' subsidiary in Spain won a tax dispute ruling against the Spanish Tax Agency, annuling a VAT demand of €15.51 million and penalty of €18.10 million.
Sagility Acquisition
Sagility acquired Chirok Health, a provider of clinical documentation improvement, medical coding, coding quality assurance and revenue integrity services for healthcare organisations.
The one thing
Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy and GMDC are key stocks for Thursday's market as investors track September-quarter earnings, credit ratings, fundraising plans and regulatory developments.
