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Deepak Nitrite reported a 235% year-on-year jump in consolidated net profit to ₹397.68 crore for the September quarter of FY27, and its shares rose as much as 9.4% to ₹1,616.65 in early trade on Friday, October 30, 2026. Total income rose 61% to ₹3,092.66 crore, and the EBITDA margin widened to 20.8% from 11.6% a year earlier.

Deepak Nitrite Q2 FY27 Results at a Glance

The chemical maker’s second quarter was its strongest on record, with profit more than tripling over the year-ago quarter. Profit before tax rose even faster than total income, which shows that margins widened rather than the gain coming only from higher sales.

Metric (₹ crore)	Q2 FY27	Q2 FY26
Consolidated net profit	397.68	118.75
Profit before tax	542.70	163.03
Total income	3,092.66	1,921.84
EBITDA	643	224
EBITDA margin	20.8%	11.6%

Total expenses rose 45% to ₹2,549.96 crore from ₹1,758.81 crore, far slower than the 61% rise in income. Profit before tax was about 17.5% of total income, against about 8.5% a year earlier, a ratio calculated from the reported figures.

The year-ago base was weak, which explains part of the size of the jump. In Q2 FY26, Deepak Nitrite’s net profit had fallen about 39% to roughly ₹119 crore on a 6.4% drop in revenue from operations to ₹1,901.89 crore. The June quarter of FY27 had already shown a recovery, with net profit of ₹345.01 crore, more than three times the ₹112.25 crore of the year-ago quarter.

On a quarter-on-quarter basis, net profit rose 15.3% from ₹345.01 crore in the June quarter. Revenue from operations grew 19.4% from ₹2,577.60 crore, and EBITDA, which is earnings before interest, tax, depreciation and amortisation, increased 16%.

Phenolics Drives the Quarter

The Phenolics segment was the main contributor. Its revenue rose 72% year on year to ₹2,291 crore, while its EBIT, or earnings before interest and tax, surged 256% to ₹515 crore.

The company attributed this performance to favourable domestic market conditions, disruptions to imports and higher international freight costs. Together these made locally manufactured products more competitive. In the first half of FY27, Phenolics generated ₹933 crore of EBIT, which exceeds its previous full-year peak of ₹867 crore in FY22, according to the company’s presentation filed with the National Stock Exchange.

Advanced Intermediates: Higher Sales, Thinner Profit

The Advanced Intermediates segment grew revenue 38% to ₹811 crore, but its profit is far smaller than that of Phenolics. The company said profitability in this segment was affected by aggressive global pricing, elevated raw material and energy costs, and higher export freight expenses.

Segment	Q2 FY27 revenue (₹ crore)	Revenue growth year on year	Q2 FY27 EBIT (₹ crore)
Phenolics	2,291	72%	515
Advanced Intermediates	811	38%	49 (₹23 crore a year earlier)

The table shows how uneven the split is. Phenolics contributed about 91% of the two segments’ combined EBIT of ₹564 crore, a share calculated from the reported segment figures. Advanced Intermediates still more than doubled its EBIT from ₹23 crore, but from a much smaller base.

First Half of FY27: The Cumulative Picture

The first half of FY27 reinforces the quarterly trend. The company’s results for the six months ended September 30, 2026, show profit growing far faster than sales.

• Net profit: ₹742.69 crore, up 221.5% from ₹231.01 crore in the first half of FY26.
• Revenue from operations: ₹5,653.97 crore, up 49.1% from ₹3,791.77 crore.
• Profit before tax: ₹1,010.33 crore, against ₹317.77 crore a year earlier.
• EBITDA: ₹1,197 crore, up 173%.

Chairman and Managing Director Deepak C. Mehta described the quarter and the half year as record performance. He described the operating backdrop as demanding and credited the quality of the company’s manufacturing assets, its teams and operational agility, and said the company had maximised capacity utilisation across its plants despite supply-chain challenges.

Deepak Nitrite Share Price on October 30

The stock opened at ₹1,575.30 on Friday, did not trade below ₹1,566.45 in the early session, and touched a high of ₹1,616.65, which was 9.41% above the previous close of ₹1,477.60. Early moves after a results announcement can change during the session, so the opening gain is not a guide to where the stock ends the day.

Investors who want to hold chemical sector shares in electronic form can open demat account online with a depository participant. The price and the company’s exchange filings can then be followed on a share market app that provides access to NSE and BSE.

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Suzlon Energy shares fell as much as 9.7% to a 52-week low of ₹33.21 on Friday, October 30, 2026, a day after the company reported a 69% year-on-year drop in Q2 FY27 net profit. The wind turbine maker’s revenue rose 26% to ₹4,869 crore, but its operating margin narrowed to 14.7% from 18.6% a year earlier.

Suzlon Energy Share Price Reaction on October 30

Suzlon announced its September quarter results after market hours on Thursday, October 29. The stock had closed that day at ₹36.79, down 1.45%, so the results did not reach the market until Friday’s session.

On Friday the shares touched ₹33.21, a fall of 9.73% from the previous close, and were last seen near ₹33.55 around midday, down 8.81%. The stock has declined about 39.7% over the past six months.

Price detail	Level
Close on October 29	₹36.79
Intraday low on October 30 (52-week low)	₹33.21
Fall from previous close at the low	9.73%
Last seen around midday	₹33.55 (down 8.81%)
Change over six months	Down 39.71%

How Suzlon Stock Was Placed Before the Results

The stock was already close to its lows going into the announcement. On October 26 it was trading near ₹36.77, and it had fallen more than 40% from its 52-week high of ₹61.45 reached in November 2025. Shares also fell sharply after the June quarter results on July 28, when the company reported a 6% drop in profit to about ₹305 crore on 23% higher revenue of ₹3,819 crore.

Suzlon Energy Q2 FY27 Results: Profit, Revenue and EBITDA

Consolidated net profit was ₹394.15 crore, against ₹1,279.44 crore in the year-ago quarter, a fall of 69.19%. The comparison looks steep because the Q2 FY26 profit was lifted by a one-time deferred tax gain. Compared with the June quarter, profit rose 29.14% from ₹305.22 crore.

Revenue from operations grew 25.96% year on year to ₹4,869.05 crore and 27.48% from the June quarter. Operating profit did not keep pace. EBITDA, which is earnings before interest, tax, depreciation and amortisation, was about ₹720 crore, flat against ₹721 crore a year earlier despite the 26% rise in sales.

Metric (₹ crore)	Q2 FY27	Q2 FY26	Q1 FY27
Consolidated net profit	394.15	1,279.44	305.22
Revenue from operations	4,869.05	3,865.54	3,819.36
EBITDA	About 720	721	595

The EBITDA margin, which shows what share of sales turns into operating profit, contracted to 14.7% from 18.6%. EBITDA was up 21% on the June quarter.

Why the Operating Margin Narrowed

Brokerages flagged the fall in operating profitability as a key concern after the results. They linked it to a higher share of engineering, procurement and construction (EPC) work in the business mix.

EPC accounted for 38% of the order book, compared with 32% in Q1 FY27. The company has said it wants to raise the EPC share to 50% by FY28. Suzlon’s CEO Ajay Kapur said the rising EPC share reflects the company’s expanding role in end-to-end project execution. EPC means the company handles the full build of a wind project and not only the supply of turbines.

Deliveries, Commissioning and Order Book in Q2

Execution improved sharply even as margins fell. Suzlon’s management described the quarter as one of record Q2 deliveries and strong commissioning.

• Deliveries: wind turbine deliveries rose to 710 MW from 565 MW a year earlier.
• Commissioning: projects commissioned in the quarter reached 454 MW, nearly three times the 153 MW of the year-ago quarter. In the first half of FY27 the company commissioned 723 MW.
• Order book: above 6 GW, with public sector undertakings and commercial and industrial customers making up 78% of it.
• Order intake: more than 1.5 GW in the first half of FY27.
• Net worth: has crossed ₹10,000 crore.

What Investors Can Track After the Results

Anyone who wants to hold wind energy shares in electronic form needs to open a demat account, and price moves like Friday’s can be followed live on a trading platform that provides access to NSE and BSE. Share prices can fall further or recover, and a 52-week low is a record of past prices, not a forecast.

The company’s own disclosures point to the items that will shape the next quarters:

• the EPC share of the order book against the 50% target for FY28
• the EBITDA margin trend as the mix changes
• the pace of commissioning compared with the 454 MW reached in Q2
• order intake after the more than 1.5 GW booked in the first half

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Shares of Equitas Small Finance Bank fell 20% to hit the lower circuit limit on Thursday, October 29, 2026, after Managing Director and CEO P N Vasudevan resigned. The stock touched an intraday low of ₹52.04. The resignation came alongside the bank’s September quarter results, in which Equitas reported its highest-ever quarterly profit of ₹218 crore.

Why P N Vasudevan Resigned as Equitas SFB CEO

Vasudevan said investors have repeatedly raised a perceived conflict of interest because his daughter is a co-promoter of a non-banking finance company (NBFC) while he leads a bank. He said the arrangement sits within the framework of the Banking Regulation Act. He also said there is no transaction between the bank and that NBFC, apart from one short-term deposit about two and a half years ago that was repaid on maturity.

Investors had told him that this perception was weighing on the stock and hurting value creation for shareholders and employees. Vasudevan said he decided to step down to remove it, adding that perceptions can be stronger than reality. He also cited his intention to pursue personal and social initiatives.

In his resignation letter, Vasudevan said he believes that once the overhang is removed the stock should reflect the financial strength of the bank. That is his own view, and the share price will depend on how investors respond to the results and the succession plan.

Background: The 2022 Resignation Announcement

This is not the first time Vasudevan has announced an exit. In May 2022 he said he wished to step down to work in health and education, and the bank’s shares dipped about 11% in trade that day. The Reserve Bank of India later approved his reappointment as MD and CEO for one year, and the bank said in July 2022 that he would continue in the role.

This time Vasudevan has also pointed to investor perception around his daughter’s role in an NBFC. The board has said it will ensure the bank continues to pursue its long-term vision.

Succession and Regulatory Approval

Vasudevan will continue as MD and CEO until his successor takes over. The board has asked its Nomination and Remuneration Committee to identify suitable internal and external candidates. The bank said any appointment will need approval from the Reserve Bank of India and other regulatory or statutory clearances as required.

Vasudevan has led Equitas since its start as a microfinance institution in 2007 and through its transition into a small finance bank in 2016. The bank said it does not expect the leadership transition to affect the long-term vision it has set out.

Equitas SFB Q2 FY27 Numbers and Five-Year Plan

The bank reported its highest quarterly profit to date for the September 2026 quarter, and its total business crossed ₹1 lakh crore. Vasudevan said lending to the informal and semi-formal segment is inherently difficult, and that the bank has built a strong moat around its model. He pointed to the limited exposure to unsecured microfinance, which is 10% of advances, as a way of reducing any future stress in that area.

Metric	Detail
Q2 FY27 profit	₹218.04 crore, highest ever for a quarter
Growth in profit	Up 803% from about ₹24 crore a year earlier
Total business	Crossed ₹1 lakh crore
Unsecured microfinance	10% of advances
Past five-year growth	Advances about 26% CAGR, deposits about 27% CAGR
Plan to March 2031	Advances and deposits growing 20%+ a year to about ₹1.2 lakh crore each
Guided average RoA	1.5% over the five years

CAGR is the compound annual growth rate, and RoA is return on assets, which shows how much profit a bank earns on the assets it holds. The five-year plan is the management’s own target, and the actual outcome will depend on conditions the bank does not control.

What a Lower Circuit Means for Equitas SFB Shareholders

A circuit limit is a price band set by the exchange, and a stock cannot trade below its lower circuit price during the session. Equitas SFB touched its 20% lower limit on Thursday, which capped the fall at ₹52.04 for the session.

Investors hold the shares in a demat account and place buy or sell orders through a trading account, so a demat and trading account is needed to act on the stock. The price can be followed on a share market app throughout the session. A circuit limit applies to every investor equally, so sell orders placed at the limit may wait for buyers.

• What changed: the bank’s long-time MD and CEO has resigned, and he stays on until a successor takes charge.
• What the bank reported: its highest quarterly profit to date, with total business crossing ₹1 lakh crore.
• What comes next: the board’s selection of a successor and the Reserve Bank of India’s approval of that appointment.

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Asian Paints reported a 7.45% rise in consolidated net profit to ₹1,067.63 crore for the September quarter of FY27 on Thursday, October 29, 2026. The board also declared an interim dividend of ₹5.75 per share, with November 4 as the record date. Revenue from operations grew 16.94% year on year, but profit fell 30.64% from the June quarter.

Asian Paints Q2 FY27 Results at a Glance

The paint maker’s profit grew at a slower pace than its sales in the second quarter. Revenue from operations rose to ₹9,976.51 crore from ₹8,531.27 crore a year earlier, while it was lower than the ₹10,541.94 crore reported in the June quarter.

Metric	Q2 FY27	Q2 FY26	Q1 FY27
Consolidated net profit (₹ crore)	1,067.63	993.59	1,539.25
Revenue from operations (₹ crore)	9,976.51	8,531.27	10,541.94
Net profit as % of revenue (computed)	10.70%	11.65%	14.60%

The quarter-on-quarter drop in profit is large because the June quarter was unusually strong. Asian Paints had reported a 40% profit jump and an 18% revenue rise in that quarter, with profit at ₹1,539.25 crore.

Reading the Profit Trend Across Three Quarters

Year on year, profit grew 7.45% while revenue grew 16.94%, so profit grew at less than half the pace of sales. Compared with the June quarter, profit fell 30.64% and revenue fell about 5.4%.

The last row of the table divides net profit by revenue, using the reported figures. Profit was about 10.70 paise on every rupee of revenue in Q2 FY27, against about 11.65 paise a year earlier. That gap is in line with the cost pressure the management described.

Where Asian Paints Grew in the September Quarter

Demand held up across the company’s businesses, and the international business grew fastest.

• India decorative business: volume growth of 6.4% and value growth of 14.5%.
• Domestic coatings business: value growth of 16.4%, supported by continued strength in industrial coatings.
• International business: net sales growth of 29.5%, or 23.7% in constant currency terms, with growth across all regions.
• Dahej plant: Phase 1 of a vinyl acetate ethylene (VAE) plant was commissioned, which the company linked to new product innovation.

Constant currency growth strips out the effect of exchange rate movements, so it shows how the business performed in its own terms.

Raw Material Inflation and the Margin Squeeze

Managing Director and CEO Amit Syngle said the operating environment this year has been marked by sharp raw material inflation and supply constraints linked to geopolitical disruptions, and that the full impact was felt in the second quarter. The company raised prices in a calibrated way and absorbed part of the cost increase to protect consumer demand.

The standalone EBITDA margin was 17.1% in a quarter that usually has a lower product mix and margin profile. EBITDA is earnings before interest, tax, depreciation and amortisation, and the margin shows what share of sales turns into operating profit.

Syngle said inflationary pressure shows little sign of easing. Asian Paints is therefore rolling out a further round of staggered price increases in its coatings business while intensifying its cost-efficiency efforts.

Asian Paints Interim Dividend: Amount, Record Date and Payment

The interim dividend of ₹5.75 per equity share applies to shares with a face value of ₹1 and is 575% of face value. It is about 28% higher than the ₹4.50 interim dividend for FY26.

Detail	FY27 interim dividend	FY26 interim dividend
Dividend per share	₹5.75	₹4.50
Record date	November 4, 2026 (Wednesday)	November 18, 2025
Payment date	On or after November 13, 2026	On or after November 27, 2025

The FY27 dates fall exactly two weeks earlier than last year’s, when the record date was November 18 and payment began on November 27. An interim dividend is paid during the financial year, before the final accounts are approved. The record date is the cut-off the company uses to decide which shareholders are entitled to the payout. A holder of 100 shares would receive ₹575 before applicable tax.

How Shareholders Qualify for the Dividend

Only shareholders whose names appear in the company’s records on the record date receive the dividend. Shares are held in electronic form, so an investor needs to open a demat account before buying them. India settles equity trades on a T+1 cycle, and for the FY26 interim dividend the ex-dividend date was the same as the record date, so shares generally need to be bought before November 4 to qualify. The ex-dividend date is the first day on which the stock trades without the right to the upcoming dividend, and the exact date is confirmed in the exchange notice.

• Record date: Wednesday, November 4, 2026.
• Payment: on or after Friday, November 13, 2026.
• Amount: ₹5.75 per share, before applicable tax.
• Where to track it: the stock price and order status are visible on any stock trading app that provides access to NSE and BSE.

Asian Paints shares were trading 1.31% lower at ₹2,255 on October 29 at the last check.

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SEBI Chairman Tuhin Kanta Pandey has said that direct mutual fund plans will become the default option on the digital platforms of asset management companies (AMCs) from November 1, 2026. Investors who choose a regular plan on these platforms must be told about its higher expense ratio. Pandey made the announcement at a markets event in Mumbai on October 28.

What SEBI Said About Direct Plans on October 28

Pandey spoke about the regulator’s efforts to strengthen investor protection and improve transparency around mutual fund costs. He said protection also depends on how well investors are informed, and the direct plan default formed part of his remarks on that theme.

From Sunday, November 1, 2026, a direct plan will be the option shown first when an investor starts a purchase on an AMC’s app or website. An investor who still prefers the regular plan can choose it, but the platform must inform that investor of its higher expense ratio.

Item	Detail
Announced by	SEBI Chairman Tuhin Kanta Pandey
Announcement date	October 28, 2026
Effective date	November 1, 2026
Applies to	Digital platforms of AMCs
Regular plan buyers	Must be informed of the higher expense ratio

Direct Plans vs Regular Plans: Where the Cost Difference Comes From

A direct plan lets an investor buy units straight from the AMC without going through a mutual fund distributor. Direct plans are available on AMC websites and other permitted direct-investment channels, where investors can choose schemes, start systematic investment plans (SIPs) or make lump-sum investments and then monitor their portfolios on their own. Because there is no distributor commission, the total expense ratio (TER) of a direct plan is lower than that of the regular plan of the same scheme. TER is the annual cost, shown as a percentage of the fund’s assets, that is deducted from the scheme to cover its running expenses.

Regular plans are bought through intermediaries such as distributors, banks or financial advisers, and the commissions paid to them are built into the expense ratio. These intermediaries may assist with scheme selection, transactions and other investment-related services. Both plans of a scheme invest in the same underlying portfolio under the same fund manager, with the same investment objective and risk profile. The difference lies in the cost of distribution.

The table below shows what a 0.5 percentage point gap in the annual expense ratio would mean in rupees. The figures are illustrative. They assume the investment value stays unchanged for a year, and the real gap differs from scheme to scheme.

Amount invested (₹)	Extra yearly cost at a 0.5 percentage point higher expense ratio (₹)
1,00,000	500
5,00,000	2,500
10,00,000	5,000

Over longer periods, even small cost differences reduce the amount that stays invested and earns returns. A lower expense ratio, however, does not remove market risk and does not guarantee better performance.

What the November 1 Default Changes and What It Leaves Open

The announcement comes as more Indian households invest in mutual funds through SIPs and digital platforms. It is specific, and several practical questions are not answered in what has been said publicly so far.

• The default applies to the digital platforms of AMCs. It does not establish that independent investment platforms will adopt the same default.
• Regular plans remain available as a choice, but the investor must be informed of the higher expense ratio.
• The announcement does not specify how existing investments will be treated.
• A direct plan comes without a distributor to help with choosing or monitoring schemes, so the investor handles that part alone.

Starting a SIP After November 1: What to Check

Many investors begin their SIPs through apps. Anyone planning to start SIP online on an AMC platform after November 1 will see the direct plan first, so it helps to confirm the plan name on the screen before the first instalment is set up.

Compare the expense ratios of the direct and regular options of the same scheme, not of different schemes. Different schemes follow different strategies and carry different risks, so a cost comparison across them says little.

Investors who prefer to hold units in demat form, rather than in a statement of account, need a demat account. They can open demat account online with a depository participant and then use an investing platform of their choice to monitor holdings.

Should Existing Regular Plan Investors Switch?

Switching from a regular plan to the direct plan of the same scheme generally means redeeming units in the regular plan and buying units in the direct plan. The redemption can trigger capital gains tax and an exit load, depending on the investment and how long it has been held.

A lower expense ratio can lift net returns marginally over the long term, assuming everything else stays equal, but it is only one input in the decision. Direct plans may suit investors who understand mutual funds, can judge their own risk appetite and goals, and are comfortable selecting and monitoring schemes without help. Regular plans may suit those who value assistance with scheme selection, transactions and portfolio monitoring, provided they understand the extra cost and the services they receive in return.

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The basis of allotment for the EAAA India Alternatives IPO is expected to be finalised today, October 29, 2026, after the ₹1,200 crore issue closed on October 28 with 5.51 times overall subscription. A late surge of institutional bids on the final day drove the result, after the issue had been subscribed only 0.35 times at the end of Day 2.

Refunds and credit of shares to demat accounts are scheduled for Friday, October 30, and the tentative listing date is Monday, November 2, 2026.

EAAA India Alternatives IPO Final Subscription Status

Bids surged on the last day, mainly from qualified institutional buyers (QIBs). The table shows how subscription built over the three days, based on exchange data.

Category	Day 1	Day 2	Day 3 (final)
QIB (excluding anchor)	0.08x	0.48x	13.80x
NII	0.33x	0.72x	4.81x
Retail	0.04x	0.11x	1.08x
Overall	0.12x	0.35x	5.51x

QIBs bid 13.80 times the portion reserved for them. The non-institutional category finished at 4.81 times, and retail investors at 1.08 times. Retail subscription was well below full subscription for most of the day, at about 0.24 times at 2:49 pm and about 0.77 times later, before it ended just above full subscription at 1.08 times.

Because the retail portion was only just above full subscription, nearly all valid retail bids may be allotted, though the basis of allotment published by the registrar is definitive.

Issue Details and Anchor Book

The IPO was entirely an offer for sale of 72,07,207 shares with a face value of ₹5 each, so the proceeds go to the selling shareholders and not to the company. The price band was ₹1,585 to ₹1,665 per share, and the minimum bid was 9 shares, or ₹14,985 at the upper band.

Before the issue opened, the company raised ₹360 crore from anchor investors. Mutual funds took ₹235.51 crore, or 65.42% of the anchor book. Foreign portfolio investors took ₹77.99 crore, or 21.66%, and alternative investment funds took ₹46.50 crore, or 12.92%.

Allotment, Refund and Listing Timeline

The schedule, as published for the issue, is as follows.

• October 29, 2026: Basis of allotment expected to be finalised.
• October 30, 2026: Refunds and credit of shares to demat accounts.
• November 2, 2026: Tentative listing on the NSE and BSE.

Listing dates are tentative until confirmed by the exchanges. The registrar to the issue is MUFG Intime India Private Limited.

How to Check EAAA India Alternatives IPO Allotment Status

Applicants can check the status on the registrar’s website, the BSE website or the NSE IPO application status page. The status is shown once the basis of allotment has been approved.

The usual steps are:

• Open the registrar’s IPO status page and select EAAA India Alternatives from the list of issues.
• Enter the PAN, application number or demat account number used for the bid.
• Submit the details to see whether shares were allotted and how many.

Investors who do not receive shares do not need to take any action, because the blocked amount is released to the bank account. Refunds and unblocking of UPI mandates are scheduled for October 30.

What the Subscription Pattern Shows

The final figure of 5.51 times is far above the 0.35 times recorded at the end of Day 2, which shows how much IPO demand can arrive in the last hours of bidding, especially from institutions. The Jio Platforms IPO showed the same pattern earlier this week, rising from about 5.5 times after Day 2 to 22.19 times at the close.

The numbers differ by category, though. QIB demand of 13.80 times contrasts with retail demand of 1.08 times, which indicates that institutions were more eager than individual investors at the price band of ₹1,585 to ₹1,665. At the upper band, the valuation was about ₹10,765 crore, or about 40.6 times FY26 earnings per share of ₹41.02, based on published figures.

Company Snapshot

EAAA India Alternatives is an alternative asset manager in the Edelweiss group, focused on India’s real assets and private credit markets. Based on the issue documents, total income in FY26 was ₹963.76 crore and profit after tax was ₹265.20 crore, compared with ₹786.54 crore and ₹229.78 crore in FY25. For the June 2026 quarter, total income was ₹336.13 crore and profit after tax was ₹80.71 crore.

Before the Shares List

Investors who received shares will see them in their demat account on October 30, so they should confirm their account details. Anyone who missed this issue can open a demat account in advance and complete demat account opening and KYC so they are ready for the next IPO. Those who want to invest in IPO online can use a broker’s app or net banking, apply with UPI, and check the status through the registrar.

Points to watch before listing:

• Whether the registrar publishes the basis of allotment on schedule today.
• The refund and demat credit on October 30.
• Exchange notices confirming the November 2 listing date.
• Market conditions, including crude oil prices and global rate decisions.

Unofficial grey market premium figures are not a reliable guide to the listing price, and investors should rely on exchange announcements for the official listing schedule.

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Hero MotoCorp reported a 42% year-on-year rise in consolidated net profit to ₹1,860.55 crore for the September 2026 quarter, up from ₹1,308 crore a year earlier. Revenue from operations rose 23% to ₹14,971 crore. The results were announced on Wednesday, October 28, 2026.

The headline profit was helped by a gain of about ₹397 crore linked to its associates. On a standalone basis, profit rose only about 5% to ₹1,456.22 crore, and the operating margin fell.

Hero MotoCorp Q2 FY27 Results at a Glance

The table compares the main figures with the same quarter last year.

Metric (₹ crore)	Q2 FY27	Q2 FY26	Change
Consolidated revenue	14,971	12,218	+23%
Consolidated net profit	1,860.55	1,308	About +42%
Standalone revenue	14,687	12,130	+21%
Standalone net profit	1,456.22	1,392.83	About +5%
Standalone EBITDA	1,968	Not stated	+8%
Standalone EBITDA margin	13.4%	15.0%	Down about 1.65 points

Some reports round the consolidated profit growth to 41%, while others say 42%. Compared with the June 2026 quarter, consolidated net profit rose 31% from ₹1,417.93 crore.

Why Standalone Profit Grew Far Slower Than Revenue

Standalone revenue grew 21%, but standalone profit grew only about 5%. The gap came from the operating margin. EBITDA margin narrowed to 13.4% from 15.0%, a fall of roughly 165 basis points, and reports attribute this to commodity cost inflation and higher operating expenses that grew faster than realisations.

Brokerage analysts quoted in market reports said EBITDA growth of 8% was in line with estimates, but net profit missed estimates by about 4% because of lower financial income. Hero MotoCorp shares were reported down about 3% following the results.

The consolidated figure looks stronger because it includes the gain of about ₹397 crore from associates. Investors comparing quarters should check both standalone and consolidated numbers, since they show different parts of the picture.

Volumes: Scooters and Electric Vehicles Drive Growth

Standalone volumes grew about 10% year on year and 11% from the June quarter, according to reports.

• Motorcycle volumes rose 6.5% to about 16.28 lakh units.
• Scooter volumes, including electric and petrol models, rose 47.3% to about 2.40 lakh units.
• Revenue growth outpaced volume growth, which the company’s presentation links to its broader mix of products and businesses.

The VIDA electric brand grew quickly. Retail volumes were 67,000 units in the quarter, up 76%, and 1,24,000 units in the first half, up 108%, with a market share of about 11% in the half year. VIDA turned gross margin positive in the second quarter, ahead of management’s earlier guidance, according to the earnings call.

Parts and Accessories Business

The company’s parts and accessories business reported Q2 revenue of ₹1,941 crore, up 27%, and ₹3,630 crore in the first half, up 28%.

First-Half FY27 Performance

For the six months from April to September 2026, consolidated figures show faster revenue growth than profit growth.

• Consolidated revenue: ₹28,096.85 crore, up 28% from ₹21,946.14 crore.
• Consolidated net profit: ₹3,278.48 crore, up 8% from ₹3,026.63 crore.

Profit growth of 8% against revenue growth of 28% shows that the margin pressure was not limited to the September quarter, and the earnings presentation points to commodity inflation as the main reason.

Margin Outlook From Management

Management reiterated its medium-term EBITDA margin target of 14% to 16%, and said it expects to reach that range over the next few quarters as commodity inflation eases. The Q2 margin of 13.4% is below that range, so the pace of cost relief will be a key point for investors.

Management expressed confidence in the company’s growth trajectory across its premium, scooter, electric mobility, global business and commuter segments, while acknowledging near-term margin pressure.

What the Results Mean for Shareholders

Hero MotoCorp’s results show strong sales growth and weaker profitability on a standalone basis, which is a common pattern when input costs rise faster than prices. The investment in electric vehicles is showing progress through higher VIDA volumes and positive gross margins, but it is still a small part of overall revenue.

Investors who want to follow the stock after the results can open demat account online and complete KYC before they place orders. A trading platform that shows live prices, volumes and exchange announcements can help track how the shares react over the coming sessions.

Key Points to Watch

The main items for the coming quarters are:

• Whether commodity costs ease and the EBITDA margin moves back toward 14% to 16%.
• Continued growth in scooter and VIDA volumes, and the pace of VIDA’s path to profit.
• Whether the associates’ gain, which helped consolidated profit, repeats.
• Demand in the motorcycle segment, where volume growth of 6.5% was slower than scooters.

These are points to monitor, and the figures above are not a recommendation to buy or sell the shares.

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The US Federal Reserve left its benchmark interest rate unchanged at 3.75% to 4.00% on Wednesday, October 28, 2026, in a 10-2 vote. Indian equity indices rebounded on Thursday, October 29, with the Sensex up 608.18 points, or 0.83%, at 73,854.21 and the Nifty 50 up 166.15 points, or 0.73%, at 22,865.50 at about 12 pm.

The figures are intraday readings and will change before the close.

What the Federal Reserve Decided

The Fed concluded its two-day meeting on October 28 by holding the federal funds target range at 3.75% to 4.00%, where it has been since a quarter-point increase in September, the first rate rise since 2023.

Detail	Outcome
Federal funds target range	3.75% to 4.00%, unchanged
Vote	10 in favour, 2 against
Dissenters	Governor Lisa Cook and Cleveland Fed President Beth Hammack, who wanted a quarter-point increase
Statement on inflation	Inflation “remains elevated”
Next meeting	December

The statement said the committee wants an accumulation of more information before it decides on the policy stance needed to bring inflation back to 2% in a timely way. It did not give a clear signal on whether rates will rise in December. Reports said markets are pricing in the possibility of another increase before the end of the year, though that remains an expectation and not a decision.

At his press conference, Fed Chair Kevin Warsh said politics played no role in the decision ahead of the US midterm elections, according to reports. The two dissents were both in favour of tightening, which shows that some members see the inflation risk as larger than the majority does. US stocks ended higher on Wednesday after the decision, while Asian markets were mixed on Thursday.

How Indian Markets Reacted on October 29

Indian benchmarks had a mixed start. The Nifty opened near its previous close and was up 33.70 points at 22,732.55 at 9:29 am. Buying then picked up through the morning.

• At about 12 pm, the Sensex was up 608.18 points at 73,854.21 and the Nifty up 166.15 points at 22,865.50.
• Market breadth was positive, with 2,032 shares advancing, 1,467 declining and 185 unchanged.
• Live market reports showed gains widening further in the afternoon, with the Sensex up about 900 points and the Nifty above 22,950 at one stage.
• FMCG and PSU bank stocks led the gains among sectors, while the Nifty Auto index slipped about 0.4% in the morning.

Gains came after a weak session on Wednesday. The Sensex had fallen 352.64 points, or 0.48%, to close at 73,246.03, and the Nifty 50 had slipped 50.90 points, or 0.22%, to 22,698.85. The Nifty IT index fell 2%, while the Nifty Midcap and Nifty Smallcap indices rose 0.4% and 0.9%.

Why the Fed Matters for Indian Investors

US interest rates affect Indian markets mainly through capital flows and the exchange rate. Higher US rates make dollar assets more attractive and can draw money away from emerging markets, including India. Reports on Thursday noted that foreign outflows continued to weigh on sentiment even as the indices rose.

The rupee ended Wednesday 11 paise weaker at 95.23 against the US dollar, from 95.12 the previous day, as high oil prices and global policy uncertainty kept currency traders cautious.

Crude oil was another factor. Prices were near $115 a barrel on Wednesday, and oil cooled slightly on Thursday. India imports most of its oil, so high crude prices raise the import bill and can add to inflation.

Wednesday’s Range and Intraday Swings

Wednesday’s session was volatile. The Sensex touched an intraday low of 72,603.57 before recovering part of its losses, and the Nifty rebounded from a low of 22,497.70. Thursday’s recovery of about 650 points from the day’s low shows how large these swings have been this week.

Investors who hold positions in a demat and trading account can see how these swings affect their portfolio value during the day. Active traders often follow the moves on an online trading platform that offers live index data and charts, particularly on days with global events such as a central bank decision.

Key Events to Watch

Several items will influence the market in the coming sessions:

• Jio Platforms is scheduled to announce its September quarter results on October 30.
• The US Federal Reserve’s next meeting in December, and incoming US inflation data.
• US midterm elections next week, which reports cited as a factor for caution.
• Crude oil prices and developments in West Asia.
• Foreign investor flows in Indian equities.

Nothing in this report predicts where the market will go from here, and the intraday figures above may change by the close.

Key Numbers From the Last Two Sessions

The numbers that defined the last two sessions are shown below.

Index	October 28 close	October 29 at about 12 pm
Sensex	73,246.03 (-0.48%)	73,854.21 (+0.83%)
Nifty 50	22,698.85 (-0.22%)	22,865.50 (+0.73%)

Closing figures for October 29 will be available after the market closes.

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Jio Platforms shares ended their first day of trading on Wednesday, October 28, 2026, at ₹1,417.50 on the NSE, up 26.68% from the IPO issue price of ₹1,119. The stock had listed at ₹1,358, a 21.36% premium, and gained further through the session.

At the close, the company’s market capitalisation was above ₹13 lakh crore, which made it the second most valuable listed company in India after its parent, Reliance Industries, according to market reports. The company has also announced that its board will meet on Friday, October 30, 2026, to consider its September quarter results.

Jio Platforms Debut: Key Numbers

The table below summarises how the stock traded on its first day.

Detail	Figure
IPO issue price (upper band)	₹1,119
Listing price on NSE and BSE	₹1,358
Listing premium	21.36%
Closing price on NSE	₹1,417.50
Gain over issue price at close	26.68%
Market capitalisation at close	About ₹13.05 lakh crore

Closing figures differ slightly across reports. Some cite ₹1,419, which would be a gain of about 26.8% over the issue price, while the NSE figure of ₹1,417.50 is used here. The stock gained about 4.4% to 4.5% over its listing price during the session.

What the Debut Meant for IPO Investors

Investors who received one lot of 12 shares at ₹1,119 paid ₹13,428. At the NSE closing price of ₹1,417.50, the same lot was worth ₹17,010, a gain of ₹3,582 on paper. This is Findoc’s calculation from the reported prices. At the listing price of ₹1,358, the paper gain per lot had been ₹2,868.

These gains are not realised until the shares are sold, and the price can change with each session. Investors who hold the shares in a demat and trading account can sell at any time during market hours, subject to the usual exchange rules and taxes.

Demand Behind the Listing

The listing followed strong demand in the IPO, which closed on October 23 with 22.19 times overall subscription.

• Qualified institutional buyers: 70.55 times.
• Non-institutional investors: 14.00 times.
• Retail investors: 2.72 times.
• Employees: 2.93 times.
• Shareholders: 7.60 times.

Retail investors placed bids worth more than ₹25,000 crore, excluding bids from eligible employees and small shareholders of Reliance Industries, according to exchange data reported on listing day. The company had also raised ₹8,109.85 crore from anchor investors before the issue opened.

Why the Market Value Matters

At ₹13.05 lakh crore, Jio Platforms is now larger by market value than any other listed company in India except Reliance Industries, according to reports. It also became the country’s most valuable listed telecom company.

The company’s IPO of ₹30,213 crore was the largest in India, ahead of Hyundai Motor India’s ₹27,858.75 crore offering in 2024. At the upper end of the price band, the post-issue valuation was about ₹10.3 lakh crore. The closing price therefore put the market value roughly 27% higher than that, in line with the share price gain.

Results on October 30 and Other Events to Watch

Jio Platforms informed the exchanges that its board will meet on Friday, October 30, 2026, to consider its financial results. This will be the company’s first results announcement as a listed entity.

Investors will watch several points:

• Revenue, profit and subscriber numbers for the September quarter.
• Average revenue per user, which is a key measure for telecom companies.
• Management commentary on capital expenditure and the use of IPO proceeds.
• The share price reaction on the next trading day.

The company has said it plans to use the proceeds from the fresh issue of up to 27 crore shares to prepay certain borrowings of Reliance Jio Infocomm and for general corporate purposes.

What Newly Listed Stocks Often Do

Newly listed stocks tend to see larger price swings in the first few sessions because the market is still discovering a fair price. A strong first day does not predict future returns, and prices can fall as easily as they rise.

Investors who did not receive an allotment in the IPO can still buy the stock on the exchanges at the market price. Those who do not yet have an account can open a demat account and complete KYC with a broker before placing orders. Active investors can then monitor the stock through a trading app, which shows live prices, volumes and exchange announcements.

Market Backdrop on Listing Day

The debut took place on a weak day for the broader market. The Sensex fell 352.64 points, or 0.48%, to close at 73,246.03, and the Nifty 50 fell 50.90 points, or 0.22%, to 22,698.85. Selling in IT and oil and gas stocks, along with elevated crude oil prices and caution before the US Federal Reserve’s decision, weighed on the indices. Jio Platforms was one of the few bright spots of the day.

This report covers the closing price as reported on October 28. Check exchange websites for live prices and official announcements.

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Anthropic, the company behind the Claude AI models, made its IPO filing public on Monday, October 26, 2026, by filing a Form S-1 with the US Securities and Exchange Commission (SEC). The company plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker ANT.

The filing shows revenue of about $16.3 billion for the first half of 2026, but it leaves the share count and price range blank. Reports citing people familiar with the plans put the target valuation between $1.5 trillion and $2 trillion, with a listing as early as the week of November 16.

What the Anthropic S-1 Confirms

The public filing follows a confidential draft that Anthropic submitted to the SEC on June 1, 2026. The table below separates what the filing states from what is still open.

Item	Status
Filing date	October 26, 2026
Security	Class A common stock
Exchange and ticker	Nasdaq Global Select Market, ANT
Underwriters	22 banks, led by Goldman Sachs and Morgan Stanley
Number of shares	Blank in the filing
Price range	Blank in the filing
Sellers	The company and existing stockholders, according to HNGN

Anthropic is a Delaware public benefit corporation, and the filing gives substantial space to its governance structure, including how voting power is shared between its co-founders and a Long-Term Benefit Trust, according to FinanceFeeds.

The registration statement is not yet effective, so no shares can be sold until the SEC declares it effective and the offering is priced.

Anthropic Financials Disclosed in the S-1

Revenue has grown very fast, according to figures in the filing as reported by several outlets, including Reuters and Data Studios.

Period	Revenue	Net loss
Full year 2024	$386 million	About $8.3 billion
Full year 2025	$4.585 billion	About $41.97 billion
First half 2025	About $1.16 billion	About $12.97 billion
First half 2026	$16.286 billion	$80.748 billion

Revenue in the second quarter of 2026 alone was $11.555 billion, according to Decode the Future’s summary of the filing. Subtracting that from the half-year total implies first-quarter revenue of about $4.73 billion, which is Findoc’s calculation and not a figure from the filing.

On an operating basis, the picture is narrower. The operating loss for the first half was $693 million, compared with $2.135 billion a year earlier. Kingy.ai reported a first-quarter operating loss of $1.667 billion, which means Anthropic booked operating income of $974 million in the second quarter.

Why the Net Loss Is $80.7 Billion

The headline loss is mostly an accounting item. The first-half net loss of $80.748 billion includes a $72.388 billion non-cash charge from changes in the fair value of convertible notes, derivatives and SAFEs, according to Crypto Briefing and Kingy.ai. These instruments rise in value as the company’s own valuation rises, and that increase is booked as an expense.

The same pattern applied in 2025. Yahoo Finance reported that more than $34 billion of the roughly $42 billion loss that year came from accounting adjustments tied to the fair value of the company’s liabilities and not from cash outflows.

Data Studios reported that on the company’s own non-GAAP measures, adjusted operating income was $1.618 billion in the first half, a margin of about 10%, and adjusted net income was $2.671 billion. Non-GAAP figures are the company’s own presentation and are not audited in the same way as the main financial statements. The first-half results in the filing are also unaudited.

Valuation, Size and Timeline: What Reports Say

The filing gives no offering valuation, so the figures below come from media reports citing unnamed sources and are not confirmed terms.

Report	Valuation	Other details
Last private round (May 2026)	$965 billion post-money	Series H, as reported by several outlets
Wall Street Journal, via Investing.com	$1.5 trillion to $2 trillion	Raise of $100 billion or more; listing in the week of November 16; timing could change
Bloomberg, earlier report	$1.8 trillion to $2 trillion	Roadshow from the week of November 9; debut before Thanksgiving on November 26
Bloomberg, as cited by Investing.com on October 27	$1.4 trillion to $1.5 trillion, with $1.75 trillion possible	Earlier Bloomberg report on investor indications

Anthropic reported cash and cash equivalents of $112.4 billion as of June 30, according to Yahoo Finance. Axios noted that third-quarter numbers have not been reported but could appear in an amended filing before pricing, since they have been leaked. The Wall Street Journal said the company could disclose the share count and price range in roughly two weeks, after gauging investor feedback.

Axios also reported that OpenAI said it does not expect to go public until next year.

Retail Allocation and What It Means for Indian Investors

Bloomberg reported on October 27 that JPMorgan will lead retail sales of the IPO in the United States, while Citigroup will coordinate an international retail offering. The company has considered allocating about 15% to 20% of the shares to retail investors, though the proportion could change. The countries named in the report for the international retail offering are Australia, Canada, Japan, Britain, Switzerland and some European Economic Area countries. India was not among them, though the report’s list may not be exhaustive.

Because the shares will list on Nasdaq, they will not be available through the NSE or BSE IPO application process that Indian investors use for domestic issues. Investors in India who hold a demat and trading account should check with their broker whether US-listed shares can be accessed, and under what charges, tax treatment and Reserve Bank of India remittance limits. Those who want to follow the stock after listing can use an investing platform that offers US market data, but direct participation in the IPO itself may be limited.

Anyone considering the stock should also read the final prospectus once the price range is set, since the current filing is incomplete.

What to Watch Next

Several milestones remain before ANT can trade:

• An amended S-1 with the share count, price range and expected proceeds.
• The start of the roadshow, which reports place in early to mid-November.
• Whether third-quarter results are added to the filing.
• The SEC declaring the registration statement effective.
• Pricing and the first trading day, reported as targeted before Thanksgiving or in the week of November 16.

The size of the offering, the valuation and the timing are all reported estimates, and the company has not confirmed them. The S-1 and any amendments are available on the SEC’s EDGAR database.

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