Which stocks are important to watch on October 16, 2026? Several companies, including Tech Mahindra and Wipro, reported their quarterly earnings, showing mixed results. Additionally, 31 companies are scheduled to announce their September quarter earnings, making this day significant for investors and market watchers.
- Tech Mahindra's net profit rose 32.74% to ₹1,585.6 crore in Q2 FY27.
- Wipro's net profit declined slightly by 1.40% to ₹3,200.6 crore in the same quarter.
- 31 companies, including DLF and Punjab National Bank, are reporting earnings today.
- Mankind Pharma plans to acquire a 70% stake in a Belgian biotech firm.
- Kotak Mahindra AMC suspended subscriptions in funds holding YES Bank AT1 bonds.
What were Tech Mahindra's latest financial results?
Tech Mahindra reported a consolidated net profit of ₹1,585.6 crore for the July-September quarter of FY27, marking a 32.74% increase from ₹1,194.5 crore in the same period last year. The company’s revenue from operations rose 15.6% to ₹16,180.2 crore. Sequentially, profit and revenue increased by 8% and 3%, respectively. Factors such as strong volume growth, cost savings, and rupee depreciation helped lift operating profit.
Additionally, Tech Mahindra’s board recommended a 1:1 bonus issue to celebrate its 40th anniversary. Shareholders will receive one bonus share for every share held, with the bonus expected to be credited by December 15. This is the first bonus issue by the company in 11 years.
How did Wipro perform in the July-September quarter?
Wipro reported a marginal decline of 1.40% in consolidated net profit to ₹3,200.6 crore for Q2 FY27, compared to ₹3,246.2 crore a year earlier. The decrease was mainly due to a fall in other income after the company completed its share buyback in June. Revenue from IT services was $2,611.5 million, showing a slight 0.3% year-on-year increase and no change sequentially.
For the October-December quarter, Wipro expects IT services revenue between $2,571 million and $2,625 million, which could represent a sequential change from -1.5% to +0.5% in constant currency. The company’s CEO noted that seasonal furloughs might impact the third quarter.
Which other companies are reporting earnings today?
Besides Tech Mahindra and Wipro, 31 companies are scheduled to report their September quarter earnings. This list includes DLF, Punjab National Bank (PNB), LTM, Federal Bank, Bajaj Housing Finance, Oberoi Realty, Himadri Speciality Chemical, Urban Company, Shoppers Stop, Ujjivan Small Finance Bank, and Crompton Greaves Consumer Electrical.
What is the latest from Mankind Pharma?
Mankind Pharma announced it will acquire a 70% stake in Belgium-based biotechnology firm Armed Cell Therapeutics B.V. (ACTx) for 48 million euros (around ₹511 crore). This move marks Mankind Pharma’s strategic entry into next-generation CAR-T cancer therapies. The acquisition will be made through its wholly-owned subsidiary, Mankind Pharma (Netherlands) B.V., under a definitive agreement.
The company’s board approved an additional investment of up to 45 million euros in Mankind Netherlands, raising the total investment limit to 50 million euros, including an earlier approved limit of 5 million euros.
Why did Kotak Mahindra AMC suspend subscriptions in some funds?
Kotak Mahindra Asset Management Company temporarily suspended subscriptions in two debt mutual fund schemes holding YES Bank's Additional Tier 1 (AT1) bonds. The schemes affected are the Kotak Medium Term Fund and Kotak Credit Risk Fund. These bonds were valued at zero after being written off during YES Bank’s reconstruction in March 2020.
The suspension was a precautionary measure to protect investors' interests and occurred before the Supreme Court restored the bonds later that day.
Frequently Asked Questions
Q: What caused Tech Mahindra’s profit increase?
A: Strong volume growth, cost savings, and rupee depreciation contributed to Tech Mahindra’s 32.74% profit increase in Q2 FY27.
Q: How did Wipro’s share buyback affect its profits?
A: Wipro’s other income fell after completing its share buyback, leading to a slight 1.40% decline in net profit.
Q: What is the significance of Mankind Pharma’s acquisition?
A: The acquisition of a 70% stake in Armed Cell Therapeutics allows Mankind Pharma to enter the field of CAR-T cancer therapies, a next-generation treatment.
Q: Why were subscriptions suspended in Kotak AMC funds?
A: Subscriptions were suspended to safeguard investors after YES Bank’s AT1 bonds were valued at zero due to a write-off during the bank’s reconstruction.
