Indian stocks enter October 21, 2026, with Jio Platforms’ planned Rs 30,213 crore initial public offering and a broad set of September-quarter earnings in focus. The corporate updates follow a session in which the Nifty 50 fell 257 points, or 1.11%, to 22,889, ending a two-session winning streak.
Key Takeaways
- Jio Platforms is scheduled to open its Rs 30,213 crore IPO for public subscription on October 21.
- Quarterly results show sharp profit growth at Hindustan Zinc and Bajaj Finance, but lower earnings at Waaree Renewable Technologies.
- Eternal and Adani Green Energy are among the companies scheduled to report results on October 21.
Table of Contents
- Indian stocks watch begins with Jio’s IPO
- Earnings diverge across technology, metals and renewables
- Lenders report growth, with IREDA profit nearly flat
- Orders and fundraising proposals carry different commitments
- Results calendar extends beyond October 21
- Conclusion
Indian stocks watch begins with Jio’s IPO
Reliance Industries is in focus as Jio Platforms’ initial public offering is scheduled to open for subscription on October 21. The telecom company aims to raise Rs 30,213 crore.
If completed at the planned size, the offering could surpass Hyundai Motor India’s issue to become India’s largest IPO. The fundraising target remains an offering plan, rather than completed proceeds.
| Item | Details |
|---|---|
| Yes Bank | Moody’s reaffirmed its long-term foreign currency issuer and local and foreign currency deposit ratings at Ba1. |
| UFlex | CRISIL reaffirmed AA-/Negative and A1+ ratings on Rs 4,600 crore of bank loan facilities. |
| Kapston Services | Board proposed splitting each Rs 5 face-value share into five Rs 1 shares, subject to shareholder approval. |
| Trent | Harish Bhat resigned as a non-executive, non-independent director, effective October 17, 2026. |
Earnings diverge across technology, metals and renewables
L&T Technology Services reported September-quarter FY27 net income of Rs 548.2 crore, up 53.7% from the preceding quarter. Revenue increased 3.4% sequentially to Rs 3,040.4 crore.
The company’s Q2 FY27 earnings announcement specifies that net income included a Rs 165 crore one-time gain from the disinvestment of its SWC business. That gain is important when assessing the headline profit increase alongside revenue growth. LTTS also declared an interim dividend of Rs 20 per share, with an October 27 record date.
Hindustan Zinc reported net profit of Rs 6,412 crore for the September quarter, up 142% from Rs 2,649 crore a year earlier.
Waaree Renewable Technologies presented a different pattern: revenue from operations rose 36.53% year over year to Rs 1,057.84 crore, while net profit fell 30% to Rs 82 crore. SML Mahindra also reported higher revenue but lower profit, with sales increasing 20.7% to Rs 670 crore and net profit declining 42.9% to Rs 12 crore.
Lenders report growth, with IREDA profit nearly flat
Bajaj Finance’s consolidated net profit increased 28.8% year over year to Rs 6,367 crore for the September quarter. Net interest income rose 23.6% to Rs 13,335 crore, while assets under management reached Rs 5.85 lakh crore as of September 30, 2026, up 26%.
Piramal Finance reported a 67% increase in second-quarter profit to Rs 545 crore. Net interest income grew 35% to Rs 1,530 crore, and assets under management increased 24% to Rs 1,13,112 crore.
IREDA’s net profit rose just 0.5% year over year to Rs 552 crore, despite operating profit increasing 16.5% to Rs 904 crore. Its reported gross non-performing asset ratio declined to 3.57% from 3.76%, while the net ratio eased to 1.08% from 1.23%.
Orders and fundraising proposals carry different commitments
RailTel received a Letter of Acceptance from Haryana State Electronics Development Corporation for an estimated Rs 47.40 crore order, including taxes.
Venus Pipes & Tubes began operating part of its dedicated pipe-spooling capacity ahead of its previously scheduled December 2026 timeline. It also received a Rs 185 crore Letter of Intent from a data centre customer.
Orchid Pharma’s board approved an enabling resolution to explore raising up to Rs 600 crore, subject to required approvals. Separately, PVP Ventures issued a nonbinding Letter of Intent for 10 HARMONY linear accelerator systems from Sweden-based Elekta Solutions AB. The proposed procurement still requires a definitive agreement, approvals and financing; it is not a completed equipment purchase.
Results calendar extends beyond October 21
Eternal, Adani Green Energy, Indian Hotels Company, SRF, Vishal Mega Mart, KEI Industries and Mahindra & Mahindra Financial Services are among the companies scheduled to announce second-quarter results on October 21.
Birlasoft’s board is scheduled to consider September-quarter and half-year results on October 28, along with a possible interim dividend. Its November 5 record date applies only if a dividend is declared. Trent is scheduled to release its second-quarter FY27 results on October 29.
Conclusion
The next scheduled developments are Jio’s subscription opening and the October 21 earnings releases. Later checkpoints include LTTS’ October 27 dividend record date and the Birlasoft and Trent results meetings on October 28 and 29, respectively.
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Disclaimer
This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.
