Sensex & Nifty 50 | Stock Market Live Updates Today: Sensex Rallies 1.44%, Nifty Gains 0.86%; Banks Lead, IT Slips

Coforge has joined the SpaceX Super Intelligence (SpaceXSI) Partner Network as a Transformation Partner to help enterprises deploy Grok across business workflows. Through its specialised Forward Deployed Engineering unit, Momentuum blue, the company will integrate Grok solutions into existing enterprise systems, focusing on measurable business outcomes.

The partnership will leverage Coforge’s AI engineering capabilities, its Nuuron enterprise AI suite and industry expertise to bring Grok applications across software development, research, customer service, enterprise applications and automation into production.

Supriya Lifescience shares hit the 20% lower circuit after reporting a weak Q2 FY27 performance. Revenue increased 3.2% YoY to ₹206.3 crore, while EBITDA declined 37.5% to ₹45.4 crore. Net profit fell 42% to ₹29.25 crore, with EBITDA margin contracting sharply to 22% from 36.4% in the year-ago quarter.

Precision Wires India reported a 59.0% YoY increase in standalone revenue to ₹1,950 crore in Q2 FY27, while net profit rose 21.8% to ₹43.39 crore. However, profit declined sequentially compared with the previous quarter.

• Revenue from Operations: ₹1,950 crore, up 59% YoY.

• Total Revenue: ₹1,972 crore.

• Profit Before Tax: ₹59.56 crore, up 23% YoY.

• Net Profit: ₹43.39 crore, up 21.8% YoY.

• EPS: ₹2.37, compared with ₹1.98 in Q2 FY26.

• Interim Dividend: ₹0.35 per share.

• Record Date: November 13, 2026.

• Additional Working Capital Facilities: ₹205 crore from HDFC Bank.

• Renewable Energy: Approved a power purchase agreement under the group captive model, with investment of up to ₹5 crore.

Asian markets tumbled on Friday, tracking Wall Street’s sharpest sell-off since April 2025 as concerns over AI investment sustainability triggered heavy selling in technology and semiconductor stocks. Japan’s Nikkei 225 plunged 6%, falling over 20% from its June peak and entering bear market territory, while South Korea’s Kospi dropped nearly 9%, triggering a 20-minute trading halt.

The sell-off followed a 5.5% crash in the Nasdaq, a 4.4% decline in the S&P 500 and a 3.4% fall in the Dow Jones. Semiconductor stocks led the losses, with Micron and AMD plunging 17% each, Nvidia falling 9%, and SoftBank declining 11%. Concerns over the sustainability of AI infrastructure spending and a potential slowdown in data centre construction further weakened investor sentiment.

Honasa Consumer reported its highest growth since listing, with consolidated revenue from operations rising 35.9% YoY to ₹731 crore in Q2 FY27. Net profit increased 86.7% to ₹73 crore, while EBITDA nearly doubled to ₹93 crore, supported by volume-led growth and improved operating leverage.

• Revenue: ₹731 crore, up 35.9% YoY.

• EBITDA: ₹93 crore, up 95.6% YoY.

• EBITDA Margin: 12.7%, compared with 8.9% a year ago.

• Net Profit: ₹73 crore, up 86.7% YoY.

• PAT Margin: 10%, compared with 7.3%.

• Underlying Volume Growth: 31.3%.

• Gross Profit Margin: 69.9%, compared with 70.5%.

• H1 FY27 Revenue: ₹1,487 crore, up 31.2%.

• H1 FY27 Net Profit: ₹164 crore, up 103.2%.

• Business Growth: Focus categories grew over 40%, while younger brands recorded more than 45% growth.

TTK Prestige reported a 21% YoY increase in consolidated revenue to ₹1,009 crore in Q2 FY27, while consolidated net profit surged 65.2% to ₹104.4 crore. Profit before tax, before exceptional items, rose 75.1% to ₹154.9 crore.

• Revenue: ₹1,009 crore, up 21% YoY.

• Profit Before Tax (before exceptional items): ₹154.9 crore, up 75.1%.

• Net Profit: ₹104.4 crore, up 65.2%.

• Diluted EPS: ₹8.10, compared with ₹4.69, up 72.7%.

• Domestic Sales: ₹944.5 crore, up 23.4%.

• Operating EBITDA (standalone): ₹171.7 crore, up 70.9%, with margin improving to 17.9% from 12.8%.

• Key Growth Driver: Cookware sales increased 28.7%, while appliances sales grew 23.5%.

The government has approved 12 additional projects under the Electronics Component Manufacturing Scheme (ECMS), representing proposed investments of over ₹7,500 crore and expected production of ₹39,045 crore.

So far, 118 applications have been approved, with proposed investments of ₹77,000 crore against a target of ₹59,350 crore. Cumulative production is projected to reach ₹5.73 lakh crore, surpassing the scheme’s target of ₹4.56 lakh crore. The scheme has a total outlay of ₹40,000 crore.

Vardhman Textiles reported an 8.4% YoY increase in consolidated revenue to ₹2,666 crore in Q2 FY27, while net profit rose 37.8% to ₹259 crore.

• Revenue: ₹2,665.65 crore, up 8.4% YoY.

• Profit Before Tax: ₹477.47 crore, compared with ₹248.79 crore.

• Net Profit: ₹258.76 crore, up 37.8% YoY.

• Share of Profit from Associates: ₹16.99 crore, compared with ₹12.27 crore.

• H1 FY27 Revenue: ₹5,568.73 crore, compared with ₹4,965.76 crore.

• H1 FY27 Net Profit: ₹673.32 crore, compared with ₹395.44 crore.

Despite the improvement in quarterly profitability, shares of Vardhman Textiles declined 5%.

Tata Power Renewable Energy Limited (TPREL) has commissioned a 300 MW solar project in Koppal, Karnataka, for SECI. The project is expected to generate 810 million units of renewable electricity annually and mitigate around 1.04 lakh tonnes of CO₂ emissions each year.

The project uses solar trackers and high-efficiency bifacial modules to optimise power generation. With this addition, TPREL’s total renewable utility-scale capacity has reached 12 GW, including 7.2 GW operational capacity and 4.9 GW under implementation.

AdaniConneX, a joint venture of Adani Enterprises, has signed an agreement to acquire a 100% stake in Vizag Mega Data Center Park Limited for approximately ₹1,085.5 crore. The target company owns a sizeable land parcel and has secured key licences for infrastructure development but is yet to commence commercial operations.

The acquisition is expected to be completed by November 10, 2026, and aims to strengthen AdaniConneX’s data centre infrastructure development capabilities.

Key Growth Drivers:

• FY27 Guidance: Maintained at ₹3,600 crore, nearly double FY26 revenue.

• FY28 Guidance: Raised to ₹6,500 crore from an earlier growth target of 30%.

• FY29 Guidance: Increased to ₹8,500 crore from ₹6,000 crore.

• EMS Expansion: Q2 FY27 revenue surged 401% YoY, with mobile manufacturing contributing over ₹500 crore.

• Cover Glass JV: 70:30 partnership with Corning, with customer onboarding expected in Q1 FY28.

• CMF JV: Proposed 51:49 partnership focused on R&D, product design and marketing.

• Screen Protectors: Planned ₹250–300 crore investment, targeting 2.5 crore units of combined monthly capacity.

• New Businesses: B2C products and drone manufacturing are additional growth opportunities.

Key Monitorable: Execution of aggressive revenue targets, manufacturing capacity expansion and timely commercialisation of new businesses.

Automobile dealers are expecting strong Dhanteras sales, with demand remaining firm across two-wheelers, passenger vehicles and commercial vehicles. However, supply constraints in electric two-wheelers and four-wheelers could restrict deliveries during the festive period.

FADA’s dealer survey showed that over 51% of respondents expect sales to grow in November, while 35% anticipate flat demand. The pre-owned car market is also witnessing strong festive traction, with Cars24 reporting 58% year-on-year growth in deliveries on the first day of Navratri.

Shiprocket reported Q2 FY27 revenue of ₹674 crore and net profit of ₹0.6 crore, while overall business growth reached 35% year-on-year. Its emerging business segment, including faster checkout, marketing technology, omnichannel and cross-border services, grew around 60%, with platform GMV reaching approximately ₹37,000 crore.

The company has achieved adjusted EBITDA breakeven, reporting ₹14 crore in the latest quarter. Management expects the emerging business to reach EBITDA breakeven over the next 12 months, supported by rising merchant adoption and cross-selling, which grew 102% year-on-year.

IndusInd Bank has partnered with J.P. Morgan Payments to enhance its outward remittance services through the Xpedite solution, enabling customers to transfer funds directly in beneficiaries’ local currencies across 123 currencies. The integration aims to simplify cross-border payments, reduce intermediary currency conversions and improve settlement efficiency.

The service is currently available through bank branches, with online and mobile banking access planned soon, allowing customers to initiate international transfers 24/7.

NACL Industries reported an 18.2% year-on-year decline in Q2 FY27 revenue to ₹374 crore, while net profit swung to a loss of ₹1.4 crore against a profit of ₹2.5 crore. EBITDA fell 74% to ₹12 crore, with margins contracting to 3% from 10% a year ago. The stock declined 12.9% to ₹116.90 following the results.

Kalpataru Projects International has increased its FY27 order inflow guidance from ₹30,000 crore to ₹35,000–36,000 crore, reflecting stronger business momentum and improved order pipeline visibility. The revised target represents an increase of approximately 17–20%, supported by opportunities across transmission and distribution, buildings, water, urban infrastructure, and oil and gas.

The higher guidance signals management’s confidence in securing new projects. However, investors should also monitor order execution, working-capital requirements, debt levels, operating margins and cash-flow generation.

The NSE market capitalisation crossed the $5 trillion mark during the day’s high point. The NSE index was trading at 1,909.95, up 15.60 points or 0.82%, reflecting positive market momentum.

Key Financial Highlights:

• Revenue: Increased 16.7% YoY to ₹2,995 crore.

• Net Profit: Rose 21.8% to ₹102.75 crore.

• PBT: Grew 6.1% to ₹143.24 crore.

• Operating Margin: Declined to 6.67% from 8.31%.

• H1 Revenue: Increased 12.9% to ₹5,850 crore.

• H1 Net Profit: Declined 0.9% to ₹231.06 crore.

Segment Performance:

• Animal Nutrition and Vegetable Oil reported higher profits.

• Crop Care posted a loss of ₹5.55 crore.

• Dairy reported a loss of ₹3.87 crore.

Key Financial Highlights:

• Revenue: Surged 130.1% YoY to ₹1,306.8 crore.

• EBITDA: Increased 116.4% to ₹222.9 crore.

• Net Profit: Rose 111.2% to ₹132.9 crore.

• EBITDA Margin: Declined to 17.1% from 18.1%.

• H1 Revenue: Grew 127.6% to ₹2,652.5 crore.

• H1 Normalised PAT: Increased 128.4% to ₹298.1 crore.

Business Updates:

• Commissioned 2 GW power electronics capacity at Ratlam.

• Added 100+ dealers and 30+ distributors, taking its channel network beyond 10,200 partners.

Key Concern: Margin pressure from lower sales realisations adopted to drive volumes and gain market share.

Asian markets declined sharply on Friday following a broad sell-off in AI-related stocks on Wall Street. Japan’s Nikkei 225 fell 5.7%, while South Korea’s Kospi dropped 7.4%, with Samsung Electronics shares declining 7.9%. Australia’s ASX 200 slipped 1%, Hong Kong’s Hang Seng fell 0.7% and Shanghai Composite declined 1.3%.

The sell-off followed a sharp decline in US markets, where the S&P 500 plunged 4.4%, marking its worst session since April 2025. The Dow Jones fell 3.4%, while the Nasdaq dropped 5.5%, as investors raised concerns over elevated AI valuations, rising data-centre borrowing costs and the sustainability of AI infrastructure spending.

Nvidia shares tumbled 9.3%, while AMD plunged 17.3%. CoreWeave declined 9.8% and GE Vernova fell 7.5%, reflecting broader weakness across the AI ecosystem. Concerns over potential regulatory restrictions on data-centre construction following the US midterm elections also weighed on sentiment.

Meanwhile, Brent crude rose 1.4% to $99.73 per barrel, while US crude gained 0.65% to $91.11. The US 10-year Treasury yield eased to 4.84%, indicating increased demand for safer assets amid market volatility.

DLF has partnered with Everstone Group to establish a joint venture to invest in IREO Group’s Indian real estate businesses. DLF plans to invest approximately ₹3,750 crore for a majority stake, while Everstone’s contribution remains undisclosed.

The JV intends to acquire at least a 20% stake in IREO’s Indian businesses, with an overall economic interest of around 40%. The transaction is expected to be completed next year, with the businesses managed by an independent team under the guidance of DLF and Everstone.

India’s automobile retail sales declined 23.8% year-on-year to 31.72 lakh units in October 2026, largely due to a high base and a shift in the festive calendar, with Dhanteras and Diwali falling in November this year. Two-wheeler sales dropped 28.35%, while passenger vehicle registrations declined 4.23%. However, EV sales reached a record 3.55 lakh units, with penetration rising to 11.5% from 6% a year ago.

Key Highlights:

• Two-Wheeler Sales: Fell 28.35% to 23.21 lakh units.

• Passenger Vehicle Sales: Declined 4.23% to 5.08 lakh units.

• Electric Vehicle Sales: Hit a record of approximately 3.55 lakh units, with 11.5% penetration.

• Commercial Vehicle Sales: Increased 2.29% to 1.15 lakh units.

• Three-Wheeler Sales: Grew 3.97% to 1.41 lakh units.

• Tractor Sales: Rose 3.10% to 79,285 units.

• Construction Equipment Sales: Increased 22.07% to 7,434 units.

Key Takeaway: Despite the sharp annual decline, October remained the second-highest October on record. FADA attributed the drop largely to festive-calendar shifts and expects November registrations to benefit from Dhanteras and Diwali demand.

The US FDA issued 11 observations to Granules India’s Gagillapur facility following an inspection conducted between October 19 and 30, 2026. The Form 483 highlighted concerns across quality control, equipment maintenance, manufacturing processes, procedural compliance and contamination prevention, raising regulatory and compliance concerns for the company’s operations.

Symbiotec Pharmalab has signed a 10-year take-or-pay contract development and manufacturing agreement with a European alternative protein innovator. The agreement reserves dedicated manufacturing capacity at its Ujjain facility, with production initially beginning at the existing plant, followed by a new facility with several hundred thousand litres of fermentation capacity. Further expansion options could take the programme into millions of litres.

Key Business Highlights:

• Agreement Duration: 10-year take-or-pay manufacturing contract.

• Partner: A leading European alternative protein innovator; its identity has not been disclosed.

• Manufacturing Location: Symbiotec’s biomanufacturing campus in Ujjain.

• Existing Capacity: Four 100-kilolitre fermenters, supported by modular downstream processing and quality-control facilities.

• Capacity Expansion: A new dedicated plant with several hundred thousand litres of fermentation capacity is planned.

• Future Potential: Contracted expansion options could scale capacity into millions of litres.

• Financial Details: Contract consideration remains undisclosed due to confidentiality obligations.

Key Takeaway: The agreement marks Symbiotec’s entry into fermentation-based alternative protein manufacturing, expanding its presence beyond conventional pharmaceutical products into alternative protein, human nutrition and industrial bioproducts

VA Tech Wabag shares gained 5% after the company reported strong Q2 FY27 earnings, with consolidated revenue rising 19.9% and net profit increasing 23.3% YoY. Management expressed confidence in achieving the upper end of its 15–20% FY27 revenue growth guidance, supported by an order book exceeding ₹20,000 crore and a strong bid pipeline.

Key Financial Highlights:

• Revenue from Operations: ₹1,000.2 crore, up 19.9% YoY from ₹834.5 crore.

• EBITDA: ₹144.6 crore, up 20% from ₹120.5 crore.

• EBITDA Margin: 14.5%, compared with 14.4% in Q2 FY26.

• Net Profit (PAT): ₹104.6 crore, up 23.3% from ₹84.8 crore.

• Profit Margin: 10.5%, compared with 10.2% in the year-ago quarter.

• H1 FY27 Revenue: ₹1,887 crore, up 20.3% YoY.

• H1 FY27 Net Profit: ₹194.7 crore, up 29.3% YoY.

Key Business Updates:

• Order Book: Crossed ₹20,000 crore for the first time, providing strong revenue visibility.

• Growth Outlook: Management expects FY27 revenue growth at the upper end of its 15–20% guidance.

• International Business: West Asia has outgrown the Indian business, delivering higher margins.

• New Opportunities: The company is exploring data centre projects in India.

• Cash Position: Maintained positive net cash of ₹1,144.2 crore, excluding HAM projects.

The combination of strong earnings growth, a record order book and improving international opportunities strengthens the company’s growth outlook.

Hindalco shares declined 5% following the Q2 FY27 results of its wholly owned subsidiary, Novelis. While Novelis reported strong revenue and EBITDA growth, lower rolled product shipments, significant cash outflows and rising leverage remain key concerns. Profit growth was also supported by insurance recoveries related to the 2025 Oswego fires.

Key Financial Highlights – Novelis Q2 FY27:

• Net Sales: $5.94 billion, up 25% YoY from $4.74 billion.

• Net Income: $210 million, up 29% from $163 million.

• Adjusted Net Income: $146 million, up 29% YoY, excluding special items.

• Adjusted EBITDA: $508 million, up 20% from $422 million, including $39 million in Oswego fire-related insurance recoveries.

• Adjusted EBITDA per Tonne: $553, up 23% from $448. Excluding insurance recoveries, it stood at $510.

• Rolled Product Shipments: 919 kilotonnes, down 2% YoY.

• Operating Cash Flow: Outflow of $418 million in H1 FY27, compared with an inflow of $411 million in the year-ago period.

• Adjusted Free Cash Flow: Outflow of $1.8 billion, against an outflow of $499 million in H1 FY26.

• Net Leverage: Increased to 4.7x from 4.1x at the end of March 2026.

Key Takeaway: Despite improved operating profitability, Novelis’ elevated capital expenditure, working-capital requirements and higher leverage remain concerns. The company expects to return to positive free cash flow by the end of FY27, with deleveraging expected to begin in Q4 FY27.

Thermax shares declined 14% following its Q2 FY27 results, as higher revenue failed to translate into profit growth. Consolidated operating revenue increased 11% year-on-year, while net profit fell 5%, impacted by an unfavourable product mix, higher input costs and a ₹15 crore impairment provision in a hybrid renewable energy project.

Key Financial Highlights:

• Operating Revenue: ₹2,756 crore, up 11% YoY from ₹2,474 crore.

• Order Booking: ₹3,259 crore, down 8% from ₹3,551 crore.

• Order Balance: ₹14,250 crore, up 16% YoY from ₹12,300 crore.

• Profit Before Tax (PBT): ₹169 crore, down 3% from ₹174 crore.

• Net Profit (PAT): ₹113 crore, declining 5% from ₹119 crore.

• PBT Margin: 6.1%, compared with 7% in Q2 FY26.

• PAT Margin: 4.1%, against 4.8% in the year-ago quarter.

• Cash and Investments: ₹3,260 crore, up 20% YoY.

Key Takeaway: Despite double-digit revenue growth and a 16% increase in the order balance, profitability remained under pressure. Industrial Products faced product-mix and input-cost challenges, while the Green Solutions segment was impacted by the ₹15 crore impairment provision

China’s 10-year government bond yield fell to a record intraday low of 1.58% as abundant banking liquidity and strong demand for sovereign debt supported the bond market. The People’s Bank of China’s shift towards an overnight-rate-based policy framework and its liquidity injections have eased short-term funding costs, putting further downward pressure on yields.

Brent crude traded at around $100.37 per barrel, gaining 2.11% during the day but remaining on track for a sharp weekly decline. Optimism over a potential diplomatic breakthrough has eased supply concerns, although geopolitical uncertainties and risks to shipping through the Strait of Hormuz continue to support oil prices.

Shares of Billionbrains Garage Ventures (Groww) declined 5.65% after a large block deal involving 17.42 crore shares, representing 2.8% of the company’s equity, worth approximately ₹3,708 crore at an average price of ₹215 per share.