HCL Technologies has reported a significant increase in its second-quarter profit, with net earnings rising 21.2% year-on-year to Rs 5,132 crore. The company also saw an 11.5% boost in revenue, reaching Rs 35,620 crore.
The company's earnings before interest and taxes (EBIT) surged 16.5% to Rs 6,465 crore, with the EBIT margin expanding by 80 basis points to 18.2%. Dollar revenue also saw a modest increase of 2.19%, totaling $3,724 million. In a move to reward shareholders, the board has recommended an interim dividend of Rs 12 per share for the fiscal year 2026-27.
Following the announcement of these results, HCL Technologies' shares reflected investor confidence in the company's growth trajectory.
Other Key Earnings and Developments
In the banking sector, RBL Bank reported a remarkable 170% increase in standalone profit, reaching Rs 482 crore. The bank's net interest income rose by 37% to Rs 2,131 crore, while operating profit nearly doubled to Rs 1,396 crore. The bank also improved its asset quality, with gross non-performing assets (NPA) falling to 1.02% from 1.3% in the previous quarter.
ICICI Prudential Asset Management Company posted a 6.1% rise in profit to Rs 889 crore, with revenue increasing by 16.3% to Rs 1,673.8 crore. The board approved an interim dividend of Rs 30 per share.
In the manufacturing sector, Plastiblends India saw a 43.3% jump in profit to Rs 10.65 crore, with revenue climbing 18.8% to Rs 228.8 crore.
Meanwhile, TD Power Systems successfully closed its qualified institutions placement, raising Rs 600 crore by issuing 77.41 lakh shares at Rs 775 each. Investors included major mutual funds such as Axis Mutual Fund and ICICI Prudential Asset Management Company.
In corporate leadership, Cohance Lifesciences appointed Umang Vohra as Chairman and Group CEO, following approval from the Ministry of Corporate Affairs.
In the defense sector, Goodluck India's subsidiary, Goodluck Defence & Aerospace, emerged as a technically qualified bidder for supplying specialized artillery shells to Munitions India.
In renewable energy, Vikran Engineering's subsidiary, NOPL Solar Projects, secured a rupee term loan facility worth Rs 2,941.19 crore from the Indian Renewable Energy Development Agency to finance a solar power project in Maharashtra.
Ircon International received an EPC works order worth Rs 862.5 crore from East Central Railway in Bihar, highlighting its continued expansion in infrastructure projects.
In the insurance sector, Karur Vysya Bank partnered with Zurich Kotak General Insurance Company to distribute general insurance products.
In the automotive sector, the National Company Law Appellate Tribunal (NCLAT) announced that the hearing involving Maruti Suzuki India and the Competition Commission of India (CCI) will not proceed on November 2, with a new date to be set later.
In the gaming industry, Nazara Technologies appointed Arun Agrawal as Chief Financial Officer, effective October 16, following the resignation of Rakesh Shah. The company also approved the allotment of 2.38 crore equity shares on a preferential basis, valued at approximately Rs 730.4 crore.
In the banking sector, Bank of India classified Future Enterprises' NPA account, amounting to Rs 575.4 crore, as fraud.
In the electrical industry, Polycab India will be excluded from the equity derivatives segment by the National Stock Exchange of India after the October 2026 contracts expire.
In microfinance, CreditAccess Grameen signed a syndicated social loan facility agreement worth $175 million, qualifying as external commercial borrowing under the Reserve Bank of India's automatic route.
- Lenskart Solutions: Alpha Wave Ventures LP sold 2.64 crore equity shares for Rs 1,704.8 crore.
- Religare Enterprises: Dalmia Bharat Refractories acquired 36.64 lakh shares for Rs 79.15 crore.
- Northern Arc Capital: Axana Estates LLP acquired 10.96 lakh shares for Rs 31.56 crore.
- Jubilant Pharmova: Abakkus Four2eight Opportunities Fund purchased 11 lakh shares for Rs 100.65 crore.
- Shadowfax Technologies: Qualcomm Asia Pacific sold its remaining 57.13 lakh shares for Rs 157.28 crore.
