Summary:
Stocks to watch include TCS, JSW Steel, P N Gadgil Jewellers, KEC International, NCC, Waaree Renewable Technologies, Pace Digitek, Hexaware Technologies, Lupin and Cummins India, following quarterly performance updates, new orders, regulatory approvals, partnerships and management changes.
Which stocks are in focus today?
Indian stocks are likely to remain in focus as investors track quarterly earnings, monthly business updates, fresh order wins, regulatory approvals and key management changes. Tata Consultancy Services (TCS), JSW Steel and P N Gadgil Jewellers reported their respective Q2 business performance, while SML Mahindra and IRB Infrastructure Developers released September operational updates. Meanwhile, KEC International, NCC, Waaree Renewable Technologies, Pace Digitek, Hexaware Technologies, Tilaknagar Industries, Lupin and Cummins India announced significant corporate developments.
Stocks to Watch Today: Key Corporate Developments
| Stock | Key Development | Important Detail |
| TCS | Quarterly financial performance | Net profit rose 7.6% year-on-year to ₹13,884 crore |
| JSW Steel | Crude steel production | Production increased 5% to 7.27 million tonnes |
| P N Gadgil Jewellers | Business performance | Revenue grew 22.4% year-on-year |
| SML Mahindra | September business update | Sales increased 31.90% to 1,071 units |
| IRB Infrastructure Developers | Toll revenue | September toll revenue rose 24.1% to ₹772.5 crore |
| KEC International | New orders | Secured orders worth ₹1,030 crore |
| NCC | Infrastructure contract | Received a Letter of Acceptance for a ₹1,286.03 crore project |
| Waaree Renewable Technologies | Solar EPC project | Received an LOA for a 5 MWp solar project |
| Pace Digitek | Battery energy storage | Received an LOI for a 57.5 MW/115 MWh project |
| Hexaware Technologies | AI partnership | Partnered with Anthropic through the Claude Partner Network |
| Tilaknagar Industries | Management update | CFO Rajesh Choudhary resigned with immediate effect |
| Lupin | US FDA approval | Received approval for a Phytonadione injectable product |
| Cummins India | Leadership appointment | Managing Director appointment effective November 1, 2026 |
Tata Consultancy Services Q2 Results
TCS reported a 7.6% year-on-year increase in consolidated net profit to ₹13,884 crore in Q2, compared with ₹12,904 crore in the corresponding period last year. Revenue grew 11.2% to ₹73,188 crore from ₹65,799 crore, while earnings before interest and taxes (EBIT) increased 6% to ₹17,553 crore against ₹16,565 crore. However, the EBIT margin declined to 23.98% from 25.17%. The company also announced a dividend of ₹12 per share.
JSW Steel Production and P N Gadgil Jewellers Growth
JSW Steel reported a 5% increase in consolidated crude steel production to 7.27 million tonnes from 6.95 million tonnes in the year-ago quarter. Production at its Indian operations rose 5% to 7.07 million tonnes from 6.71 million tonnes, while capacity utilisation stood at 88%.
P N Gadgil Jewellers reported revenue growth of 22.4% year-on-year. Its retail segment grew 31.1%, supported by same-store sales growth of 25.5%. The franchise business expanded 34.7%, whereas the e-commerce segment recorded a sharp decline of 83.6%.
SML Mahindra and IRB Infrastructure Developers: September Business Updates
SML Mahindra reported a 19.83% increase in commercial vehicle production to 1,257 units in September, compared with 1,049 units a year earlier. Sales rose 31.90% to 1,071 units from 812 units. However, commercial vehicle exports declined 61.59% to 53 units from 138 units.
IRB Infrastructure Developers reported 24.1% year-on-year growth in September toll revenue to ₹772.5 crore from ₹622.3 crore.
KEC International, NCC and Waaree Renewable Technologies Announce New Orders
KEC International secured new orders worth ₹1,030 crore across transmission and distribution, renewables, and cables and conductors. Its year-to-date order intake has exceeded ₹8,600 crore.
NCC received a Letter of Acceptance for a ₹1,286.03 crore contract from Hyderabad Growth Corridor for constructing Radial Road-2 in Telangana, covering the package from Budwel to Shabad.
Waaree Renewable Technologies received a Letter of Acceptance from a public sector undertaking for turnkey engineering, procurement and construction of a 5 MWp grid-connected solar photovoltaic project, along with comprehensive operation and maintenance services for 10 years.
Pace Digitek Wins Battery Storage Project; Hexaware Partners with Anthropic
Pace Digitek received a Letter of Intent from BSES Rajdhani Power for a 57.5 MW/115 MWh standalone battery energy storage system in Delhi. The project will follow a 12-year build, own, operate and transfer model, involve an estimated capital outlay of ₹179.4 crore and be executed within seven months.
Hexaware Technologies announced a multi-year partnership with Anthropic, becoming a preferred partner in its Claude Partner Network. The collaboration will integrate Claude into Zerovity, its AI-native engineering platform, and AgentVerse, its agent-building and governance platform featuring over 600 pre-built agents.
Tilaknagar Industries, Lupin and Cummins India: Key Corporate Updates
Tilaknagar Industries announced that CFO Rajesh Choudhary had resigned with immediate effect to pursue external career opportunities.
Lupin received US FDA approval for its Abbreviated New Drug Application for Phytonadione Injectable Emulsion USP, 1 mg/0.5 mL, in a single-dose prefilled syringe. The drug is indicated for treating and preventing hypoprothrombinemia and vitamin K deficiency. According to IQVIA MAT data for August 2026, the product recorded estimated annual US sales of $52.3 million.
Cummins India approved the appointment of Adegbile Adedapo Adewunmi as Additional Director and Managing Director, effective November 1, 2026, for a term of three consecutive years.
Stocks to Watch Today: Key Highlights
- TCS: Consolidated net profit increased 7.6% year-on-year to ₹13,884 crore, while the EBIT margin declined to 23.98%.
- JSW Steel: Consolidated crude steel production rose 5% to 7.27 million tonnes.
- P N Gadgil Jewellers: Revenue increased 22.4%, with retail growth of 31.1%.
- KEC International: Secured new orders worth ₹1,030 crore across transmission and distribution, renewables, and cables and conductors.
- NCC: Received an LOA for a ₹1,286.03 crore Telangana road construction contract.
- Waaree Renewable Technologies: Received an LOA for a 5 MWp solar project with 10 years of operation and maintenance services.
- Pace Digitek: Received an LOI for a 57.5 MW/115 MWh battery energy storage project in Delhi.
- Hexaware Technologies: Announced a multi-year partnership with Anthropic.
- Lupin: Received US FDA approval for its Phytonadione injectable product.
- Cummins India: Approved a managing director appointment effective November 1, 2026.
