STOCKS IN FOCUS (16th Oct 2026)

STOCKS IN NEWS

• Reliance Industries: Jio Platforms is expected to benefit from India’s projected $1.4 trillion digital economy by FY31, supported by its 5G network and technology infrastructure. The company’s IPO is scheduled to open from October 21 to 23, with a price band of ₹1,065–₹1,119 per share.

• Yes Bank: The Supreme Court ruled against the bank’s write-off of ₹8,400 crore worth of Additional Tier-1 (AT-1) bonds as part of its 2020 rescue exercise. The ruling could have financial and regulatory implications for the lender.

• Jio Financial Services: Income, excluding dividend income, increased 132% year-on-year in Q2, driven by expansion in lending and digital financial services. Jio Credit’s profit rose 140%, while assets under management (AUM) grew 154%.

• Tech Mahindra: The company announced an interim dividend of ₹15 per share and approved a 1:1 bonus issue. Q2 net profit increased 6.7% quarter-on-quarter to ₹1,586 crore, while revenue rose 3% to ₹16,180.2 crore.

• Mankind Pharma: The company agreed to acquire a 70% stake in Belgium-based Armed Cell Therapeutics for ₹511.18 crore. The acquisition marks its entry into next-generation cancer cell therapies and could strengthen its specialty healthcare portfolio.

• Akums Drugs: The company received a demand notice worth ₹53 crore from the Department of Pharmaceuticals. Investors will monitor the company’s response and any potential financial implications.

• RVNL: The company signed an agreement with Damodar Valley Corporation to develop railway infrastructure and improve connectivity to DVC power plants. The agreement could strengthen its project pipeline and future order prospects.

• Aditya Birla Capital: The company allotted non-convertible debentures (NCDs) worth ₹400 crore, strengthening its debt capital base and supporting its funding requirements.

• Moneyview: The company invested ₹250 crore in its subsidiary, Whizdm Finance, to support the expansion and funding needs of its lending business.

• Afcons Infrastructure: A tax authority in Thane confirmed a tax demand of ₹39 crore. The stock may remain in focus as investors assess the potential financial impact.

• Maruti Suzuki: The company received an income tax appellate order covering eight years, reducing the interest component by ₹6,300 crore. The development could ease a significant tax-related exposure.

• ICICI Prudential Life Insurance: A rectification order reduced the company’s tax demand to ₹279 crore from ₹328 crore, lowering its outstanding tax exposure by ₹49 crore.

• Prestige Estates: CPPIB acquired a 10% stake in PHVL for ₹950 crore and an additional 5.79% stake through Series A compulsorily convertible preference shares (CCPS) for ₹550 crore. The investments reflect institutional participation and could support the development’s funding requirements.

• Go Digit General Insurance: Fairfax is looking to contribute Digit Insurance and IIFL Capital to IDBI Bank as part of a broader vision to build an integrated banking, insurance and wealth management platform. The proposal could have strategic implications for the businesses involved.

• Glass Wall Systems: The company secured a façade work order worth up to ₹50 crore, with execution scheduled over 24 months. The contract strengthens its order pipeline and improves future revenue visibility.

BULK DEALS

• Eternal: BofA Securities Europe SA purchased 53.37 lakh shares, representing 0.05% of the company’s paid-up equity, from Goldman Sachs Bank Europe SE ODI for ₹168.67 crore.

• Vardhman Polytex: Foreign portfolio investor Pine Oak Global Fund acquired an additional 25 lakh shares, equivalent to a 0.49% stake in the company, for ₹1.38 crore.

• LCC Projects: Neomile Corporate Advisory and its founder and director, Kirtan Maneklal Rupareliya, jointly acquired a 1.4% stake in the company for ₹55.11 crore.

• PC Jeweller: Investor Aditya Kumar Halwasiya acquired 5.1 crore equity shares, representing a 0.52% stake in the jewellery retailer, for ₹73.59 crore.

Source: Moneycontrol, Business Standard

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