On October 26, 2026, shares of L&T Technology Services (LTTS), Dr. Reddy's Laboratories, and Apollo Micro Systems stood out in the Indian stock market, showing notable movements despite the SENSEX and NIFTY50 indices trading flat during midday deals. LTTS gained 3.6%, Apollo Micro Systems surged 15.3%, and Dr. Reddy's rose 6.9%, reflecting company-specific developments amid a volatile market session.
- LTTS secured a five-year contract with Nokia for engineering and R&D support in India.
- Apollo Micro Systems reported a 48.34% year-on-year net profit increase in Q2 FY27.
- Dr. Reddy's Laboratories saw a 31% decline in net profit but stock prices rose.
- SENSEX and NIFTY50 showed marginal gains, with India VIX rising 6.7% indicating market volatility.
- Indian export sectors and shipbuilding companies attracted attention due to trade agreements and government initiatives.
Why Did LTTS Shares Rise on October 26, 2026?
LTTS shares increased by as much as 3.6%, reaching an intraday high of ₹4,050 on the NSE. This rise followed the announcement of a five-year contract with Nokia. LTTS will support Nokia's engineering and research and development activities in India by establishing a dedicated Offshore Development Center (ODC). The ODC will focus on product engineering, software development, system integration, and product support, including AI infrastructure for next-generation telecom solutions.
What Caused Apollo Micro Systems’ Stock to Surge?
Apollo Micro Systems’ stock jumped 15.3% to ₹432 per share after reporting strong financial results for the July-September quarter of the 2026-27 fiscal year (Q2 FY27). The company’s consolidated net profit rose 48.34% year-on-year to ₹46.15 crore, up from ₹31.11 crore in the same quarter the previous year. Revenue from operations also increased by 72.3% to ₹388.15 crore, reflecting robust business growth.
How Did Dr. Reddy’s Laboratories Perform Despite Profit Decline?
Dr. Reddy's Laboratories’ shares rose 6.9%, reaching ₹1,314.90 per share, even though the company reported a 31% year-on-year decline in consolidated net profit to ₹925 crore in Q2 FY27. Revenue slightly decreased by 1.5% year-on-year to ₹867.08 crore but grew 7% quarter-on-quarter. The profit decline was mainly due to lower lenalidomide sales in North America, but investors responded positively to the company’s overall performance and prospects.
How Did the Market Indices and Volatility Change?
On October 26, the SENSEX and NIFTY50 indices showed marginal gains amid a volatile trading session. The SENSEX reached an intraday high of 73,491.97, while the NIFTY50 peaked at 22,706.15. By 1:06 PM, the SENSEX was nearly flat at 73,142.64, up 0.03%, and NIFTY50 stood at 22,600.55, up 0.002%. Meanwhile, the India VIX, a measure of market volatility, rose 6.7% to an intraday high of 18, indicating increased uncertainty among investors.
Which Other Stocks and Sectors Attracted Attention?
Besides LTTS, Dr. Reddy’s, and Apollo Micro Systems, other notable gainers included BSE Ltd, Eternal, JSW Steel, and Kotak Mahindra Bank. On the downside, Shriram Finance, Tata Consumer Products, HDFC Life Insurance, Bajaj Finance, and Asian Paints were among the top losers. Export-oriented sectors such as textiles, gems and jewellery, leather and footwear, and marine products gained focus due to news about India’s free trade agreement with the European Union, expected to be operational in early 2027.
Shipbuilding companies like Cochin Shipyard, Garden Reach Shipbuilders & Engineers, and Mazagon Dock Shipbuilders were highlighted as Union Minister Sarbananda Sonowal visited South Korea to explore cooperation in shipbuilding. Commerce Minister Piyush Goyal also mentioned efforts to digitalize port processes to improve cargo handling and reduce ship turnaround times, signaling future growth opportunities in maritime infrastructure.
What Were the Financial Highlights of Other Companies?
Shriram Finance’s shares declined 6.34% due to concerns over asset quality and elevated credit costs, despite a 59.37% year-on-year increase in standalone profit after tax to ₹3,677.03 crore. Bharat Coking Coal shares rose nearly 7% after posting a net profit of ₹124 crore in Q2 FY27, reversing a loss from the previous year, with revenue up 39% year-on-year to ₹4,413 crore.
