Stocks in news: Swiggy, Infosys, HPCL, eMudhra, Adani Power, Shriram Finance

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The Economic Times daily newspaper is available online now. Read Today's Paper Stocks in news: Swiggy, Infosys, HPCL, eMudhra, Adani Power, Shriram Finance, Tata Motors and NLC IndiaBy Kumar Gaurav, ETMarkets.comLast Updated: Oct 23, 2026, 06:00:00 AM ISTSynopsis

Indian equity markets faced continued downward pressure, marked by persistent selling and negative global indicators. The Nifty 50 index saw a decline, with analysts pointing out critical resistance and support points. Numerous companies disclosed their financial results, showcasing a mix of profits and setbacks for the September quarter. As various firms prepare to announce their quarterly earnings, market participants should remain vigilant over the coming days.

Indian equity benchmarks extended their losing streak for a third consecutive session on Thursday, weighed down by sustained selling pressure and weak global cues. The Nifty 50 fell 124 points, or 0.54%, to close at 22,688.

From a technical perspective, analysts see immediate resistance for the benchmark at 22,800, near its 20-day moving average (20-DMA), followed by the 23,000 mark. On the downside, 22,600 remains a crucial support level.

Against this backdrop, several stocks including Swiggy, eMudhra, Infosys, HPCL Adani Power, Shriram Finance, Tata Motors, NLC India and other are likely to remain in focus on Friday, October 23, as investors track September-quarter earnings, credit rating updates, fundraising plans, regulatory developments and new business wins.

Swiggy

Food delivery and quick-commerce platform Swiggy reported a consolidated loss after tax of Rs 922 crore for the September quarter, narrowing from Rs 1,092 crore in the year-ago period. However, the loss widened sequentially from Rs 792 crore in the June quarter.

eMudhra

eMudhra has decided to voluntarily exit the global SSL/TLS certificate business, citing rising compliance requirements, higher costs and diminishing business potential. The segment contributes approximately 1% of the company's global revenue.

Live Events

Cyient

Cyient reported a 7.7% quarter-on-quarter increase in revenue to Rs 2,235 crore in the September quarter, compared with Rs 2,075.7 crore in the preceding quarter. Net profit rose 22% sequentially to Rs 132.5 crore from Rs 108.7 crore.

Earnings before interest and tax (EBIT) increased 22.1% year-on-year to Rs 228.4 crore, while the EBIT margin expanded to 10.22% from 9.01% a year earlier. The company also declared an interim dividend of Rs 12 per equity share.

Colgate-Palmolive India

Colgate-Palmolive India reported a 4.1% year-on-year increase in net profit to Rs 341.5 crore for the September quarter, compared with Rs 328 crore a year earlier. Revenue rose 12.2% to Rs 1,705.7 crore from Rs 1,520 crore, while EBITDA increased 1.9% to Rs 474 crore from Rs 465 crore.

The EBITDA margin, however, contracted to 28% from 31% in the year-ago period. The company's net profit, revenue, EBITDA and EBITDA margin also fell short of estimates of Rs 367 crore, Rs 1,734 crore, Rs 518 crore and 30%, respectively.

Read more: Ahead of Market: 10 things that will decide stock market action on Friday

Adani Energy Solutions

Adani Energy Solutions reported a 148% year-on-year surge in consolidated net profit to Rs 1,323 crore in the September quarter, compared with Rs 534 crore in the corresponding period last year. Revenue from operations rose 53% year-on-year to Rs 10,076 crore.

Hindustan Petroleum Corporation (HPCL)

Hindustan Petroleum Corporation reported consolidated net profit of Rs 3,625.22 crore for the second quarter of FY27, recovering from a net loss of Rs 12,264.67 crore in the preceding quarter.

On a year-on-year basis, however, profit after tax declined 6.1% from Rs 3,859 crore in the corresponding quarter of FY26. Revenue from operations increased 26.1% to Rs 1,39,140 crore in Q2FY27 from Rs 1,10,323 crore a year earlier.

Saatvik Green Energy

Saatvik Green Energy unveiled its QuadCut TOPCon 3.0 Dual Glass Bifacial Solar PV Module at the Renewable Energy India (REI) Expo 2026 in Greater Noida.

Adani Total Gas

Adani Total Gas reported a 2.2% year-on-year increase in consolidated net profit to Rs 173.27 crore for the September quarter, compared with Rs 169.49 crore in the corresponding period last year.

Revenue from operations grew 33.8% to Rs 2,109.65 crore from Rs 1,576.38 crore in Q2FY26, according to the company's exchange filing.

Indo Borax & Chemicals

Indo Borax & Chemicals has executed an amendment agreement dated October 22, 2026, with Ketan Vinodchandra Ramani, Pritesh Vinodchandra Ramani and Jogindersingh Gianchand Jaswal, along with Zenrock Chemicals Private Limited.

The agreement amends the share purchase agreement dated August 20, 2026, concerning Kronox Lab Sciences. Under the amendment, the sellers' aggregate 9.95% shareholding in Kronox Lab Sciences will no longer be subject to lock-in restrictions. Indo Borax & Chemicals will also cease to have a right of first refusal over the sellers' retained shareholding.

Read more: Record galore! Jio IPO claims crown for highest QIB demand among India’s 5 largest issues, edges past NSE

CIE Automotive India

CIE Automotive India reported an 11% year-on-year increase in revenue to Rs 2,633 crore for the September quarter, compared with Rs 2,372 crore a year earlier.

Net profit rose 14% to Rs 244 crore from Rs 214 crore, while EBITDA increased 5.1% to Rs 374 crore from Rs 356 crore. The EBITDA margin, however, contracted to 14.2% from 15% in the year-ago period.

Jindal Stainless

Jindal Stainless reported an 11.1% year-on-year increase in net profit to Rs 898 crore for the September quarter, compared with Rs 808 crore in the corresponding period last year. Profit also rose 16.4% sequentially from Rs 769 crore in the June quarter, supported by stronger volumes and a 36% jump in exports.

Revenue increased 18.2% year-on-year to Rs 12,874 crore from Rs 10,893 crore and rose 14.1% sequentially from Rs 11,279 crore. Shipments grew 2.5% to 664,378 tonnes during the quarter. Exports accounted for 11% of sales, compared with 9% a year earlier.

NLC India

NLC India signed memoranda of understanding (MoUs) with the Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL) in Mumbai on October 22, 2026, covering three proposed projects in Odisha.

The first proposal involves exploring the technical feasibility of a coal gasification project and potential linkages between coal gasification, synthesis gas (Syn-Gas) production and the fertiliser sector.

The second proposal concerns a beach sand mineral processing facility involving a tentative investment of Rs 2,000 crore. The project is expected to generate potential employment for approximately 500 people.

The third proposal involves developing a 3,200 MW ultra-supercritical coal-based thermal power plant comprising four units of 800 MW each. The project entails a potential investment of Rs 35,000 crore and is expected to generate employment opportunities for approximately 4,000 people.

Sagility India

Healthcare technology services provider Sagility India reported a 13.1% year-on-year increase in net profit to Rs 284 crore for the September quarter, compared with Rs 251 crore in the corresponding period last year.

Revenue grew 22.6% to Rs 2,032 crore from Rs 1,658 crore, while EBITDA increased 23.4% to Rs 512 crore from Rs 415 crore. The EBITDA margin remained unchanged at 25%.

The company's board declared an interim dividend of Rs 0.15 per equity share of face value Rs 10 for FY27.

CreditAccess Grameen

Microlender CreditAccess Grameen reported a 298.7% year-on-year increase in net profit to Rs 502 crore for the September quarter, compared with Rs 126 crore a year earlier. The company recorded its highest-ever quarterly profit after tax.

Net interest income (NII) rose 31.3% to Rs 1,351 crore from Rs 1,029 crore, while assets under management (AUM) increased 19.5% year-on-year to Rs 30,946 crore from Rs 25,903 crore. Return on assets (ROA) stood at 5.8%, while return on equity (ROE) was 23.2%.

Century Extrusions

Century Extrusions' rights issue committee has approved the allotment of 3 crore partly paid-up equity shares on a rights basis, following the finalisation of the basis of allotment in consultation with the issue's registrar and BSE, the designated stock exchange.

The allotment was approved at a committee meeting on October 22, 2026, in accordance with the letter of offer dated September 8, 2026. The shares have a face value of Rs 1 each and were issued at Rs 15 per share, including a premium of Rs 14, to eligible applicants.

Read more: Jio leverage play pops up at SBI as India brokers lure IPO bets

Varvee Global

Varvee Global, a vertically integrated textile manufacturer formerly known as Aarvee Denims and Exports, reported a net profit of Rs 6.78 crore for the quarter ended September 30, 2026. This marks a turnaround from the net loss of Rs 6.56 crore reported in the June quarter.

Total income more than tripled sequentially to Rs 27.68 crore in the September quarter from Rs 8.88 crore in the preceding quarter. However, the year-on-year performance was weaker. Total income declined from Rs 34.32 crore in the September 2025 quarter, while net profit fell from Rs 10.21 crore in the corresponding period last year.

Q2 results today

Several companies are scheduled to announce their September-quarter results, including Infosys, Adani Power, JSW Steel, Shriram Finance, Torrent Pharmaceuticals, Tata Motors, CG Power and Industrial Solutions, Bharat Petroleum Corporation, Jindal Steel, Dr Reddy's Laboratories, SBI Funds Management, Oracle Financial Services Software, Coforge, Shree Cement, IndusInd Bank, Bank of India, SBI Cards & Payment Services, Godrej Properties, Sterlite Technologies, CRISIL, Atul, Supreme Petrochem, Central Mine Planning & Design Institute, UTI Asset Management Company, JK Tyre & Industries, Westlife Foodworld, Jupiter Life Line Hospitals and NESCO.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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