Indian stocks enter Monday, October 19, 2026, with quarterly bank results, Vedanta’s planned zinc expansion and new acquisition announcements on the corporate agenda. HDFC Bank, ICICI Bank and Axis Bank reported higher September-quarter profits, while HFCL and Indian Renewable Energy Development Agency are among the companies scheduled to release results on Monday.
Key Takeaways
- Major banks reported profit growth, but lending margins and one-off gains complicate comparisons.
- Vedanta plans to double South African zinc capacity; Zen Technologies approved a controlling-stake investment.
- Monday’s earnings calendar includes Bajaj Finance, UltraTech Cement, Hindustan Zinc, HFCL and IREDA.
Table of Contents
- Indian stocks face a mixed bank earnings picture
- Revenue growth does not always lift profitability
- Vedanta and acquisition plans broaden the watchlist
- Contracts, funding and a tax appeal
- Monday’s results calendar
- Conclusion
Indian stocks face a mixed bank earnings picture
HDFC Bank reported second-quarter net profit of Rs 19,510 crore, up 4.7% year over year, while net interest income increased 9.7%. Its net interest margin nevertheless fell to 3.16%, and treasury trading income declined 67.4%. The figures show that higher profit did not translate into stronger lending margins.
ICICI Bank’s September-quarter performance review showed standalone profit after tax rising 20.1% to Rs 14,843 crore and net interest income increasing 17.7% to Rs 25,339 crore. Its net interest margin narrowed to 4.18%, from 4.30% a year earlier, while its gross nonperforming asset ratio improved to 1.20% from 1.58%.
Axis Bank posted a 37.6% increase in September-quarter net profit to Rs 7,003 crore, with net interest income up 11.8% to Rs 15,372 crore. Its gross and net nonperforming asset ratios stood at 1.16% and 0.35%, respectively.
Yes Bank’s net profit rose 65.14% to Rs 1,080 crore, and net interest income increased 22.7% to Rs 2,822 crore. Its gross nonperforming asset ratio eased sequentially to 1.2% from 1.3%, while provisions fell from both the preceding quarter and the year-earlier period.
IDBI Bank illustrates the importance of the comparison base: reported second-quarter profit fell 39% to Rs 2,206 crore, but increased 14% when excluding the previous year’s one-off gain from selling its NSDL investment.
| Item | Details |
|---|---|
| Bajaj Housing Finance | Q2 FY2027 profit after tax rose 18% to Rs 757 crore; net interest income increased 10% to Rs 1,055 crore. |
| Himadri Speciality Chemical | September-quarter profit rose 28.9% to Rs 239.8 crore; revenue increased 44.2% to Rs 1,543 crore. |
| Central Bank of India | Second-quarter profit increased 21.1% to Rs 1,469 crore; gross nonperforming assets eased to 2.39%. |
Revenue growth does not always lift profitability
LTM reported Q2 fiscal 2027 revenue growth of 13.6% to Rs 11,807.6 crore, but profit after tax slipped 0.1% to Rs 1,379.9 crore. Earnings before interest and tax increased 11.5% to Rs 1,838.1 crore, more slowly than revenue.
Bajaj Healthcare also reported a mixed operating picture. Net profit rose 26.9% and revenue increased 18.9%, but its EBITDA margin narrowed to 17.7% from 18.2%.
Travel technology company ixigo returned to profit, earning Rs 61.3 crore against a loss of Rs 3.2 crore a year earlier. Revenue rose 12.9% to Rs 321 crore, while EBITDA turned positive at Rs 18.1 crore.
Vedanta and acquisition plans broaden the watchlist
Vedanta announced plans to double annual zinc production capacity at its South African operations to 500,000 tonnes through Phase II of the Gamsberg project. The planned expansion involves an investment of nearly $600 million under Vedanta Zinc International; the higher capacity is not yet a completed operating result.
Zen Technologies’ board approved an investment of Rs 135.15 crore to acquire a 51.98% stake in Bengaluru-based defence technology company Cogknit Semantics on a fully diluted basis.
Amber Enterprises India’s subsidiary IL JIN Electronics entered a share-swap agreement on October 18 to acquire the remaining 40% of Power-One Micro Systems. Once completed, Power-One would become wholly owned by IL JIN. The consideration involves issuing 176,000 compulsorily convertible preference shares at Rs 10,000 each.
Contracts, funding and a tax appeal
Oil India signed a revenue-sharing contract on October 15, 2026, for Special Coal Bed Methane Block SRONHP-(CBM)-2026/1, adding a contract milestone to its energy diversification plans.
Central Bank of India’s board approved raising up to Rs 7,000 crore through bonds. The approval is a fundraising authorization, rather than confirmation that the bonds have been issued.
Schneider Electric Infrastructure said its appeal concerning excess input tax credit claimed for fiscal 2017–18 had been rejected. The underlying proceedings involved a tax demand and penalty under an original order dated July 16, 2024.
Monday’s results calendar
Companies scheduled to report second-quarter results on October 19 include Bajaj Finance, UltraTech Cement, Hindustan Zinc, Union Bank of India, Piramal Finance, LT Technology Services, HFCL and Indian Renewable Energy Development Agency.
Sobha, Waaree Renewable Technologies, Just Dial and Jaiprakash Power Ventures are also on the calendar. These are scheduled announcements, distinct from the quarterly results already released.
Conclusion
The next scheduled development is Monday’s second-quarter results batch, including Bajaj Finance, UltraTech Cement, HFCL and IREDA. Those releases will add fresh operating figures to a watchlist already shaped by uneven bank earnings and proposed corporate investments.
Read More News
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.
