🇮🇳 India Daybook: Tata Motors Inks Global Mega-Pact with Stellantis, HCLTech Q2 Profit Jumps 21%

📍 STRATEGIC ALLIANCES & CORPORATE EXPANSION

• Tata Motors Passenger Vehicles: Entered into a definitive agreement with Stellantis to co-develop vehicles for more than 50 global export markets. Stellantis will utilize Tata Motors' proprietary vehicle architecture and technologies—starting with the Argos platform (underpinning the Sierra SUV)—to roll out a new Jeep SUV manufactured at their FIAPL joint venture plant in Ranjangaon, Pune.
• Tata Motors: Raised its all-cash takeover offer for European commercial vehicle manufacturer Iveco Group NV from €14.10 to €14.40 per share, terming it its "best and final offer".

📍 QUARTERLY EARNINGS & DIVIDENDS

• HCL Technologies: Reported a 21.2% YoY rise in Q2 net profit to ₹5,132 crore, driven by robust AI demand and cloud contract executions. Revenue increased 11.5% YoY, and the board approved an interim dividend of ₹12 per share with an October 16, 2026 record date.
• ICICI Prudential AMC: Posted a 6.08% YoY growth in consolidated Q2 net profit to ₹888.96 crore as operational revenue rose 16.31% to ₹1,673.79 crore. The asset manager declared its highest-ever interim dividend of ₹30 per equity share.
• RBL Bank: Q2 net profit nearly tripled YoY to ₹482 crore backed by substantial improvements in asset quality. Gross NPAs fell to 1.02% (from 1.30% in Q1), while net NPAs declined to 0.29%.
• Hindustan Composites: Declared a special interim dividend of ₹21 per equity share (face value ₹5) for FY27 alongside its quarterly results, setting October 16, 2026, as the record date.
• Swaraj Engines: Registered a 21.9% YoY rise in Q2 FY27 net profit to ₹60.57 crore compared to ₹49.68 crore in the corresponding quarter last fiscal.

📍 ORDER WINS

• IRCON International: Clinched an EPC contract valued at ₹862.46 crore from East Central Railway for the supply of track ballast and permanent way materials, scheduled for completion within 365 days.
• Azad Engineering: Secured a two-year long-term rate contract valued at approximately ₹52.68 crore from Bharat Heavy Electricals Ltd (BHEL) for manufacturing and supplying critical stationary and rotating airfoils for heavy-duty gas turbines.

📍 BULK & BLOCK DEALS

• Jubilant Pharmova: Quant Mutual Fund sold 20.81 lakh shares (representing over 1.3% equity) worth ₹190.47 crore through bulk deals at ₹915 per share. Concurrently, Abakkus Four2Eight Opportunities Fund picked up 11 lakh shares at the same price, as the board approved a capital raise of up to ₹800 crore via Non-Convertible Debentures (NCDs).

📍 REGULATORY & MANAGEMENT UPDATES

• Polycab India: The National Company Law Appellate Tribunal (NCLAT) granted an interim stay against the NCLT order admitting insolvency proceedings against the company over an alleged ₹2.79 crore operational debt. Separately, the National Stock Exchange announced that Polycab will be excluded from the equity derivatives (F&O) segment starting December 30, 2026.
• Nazara Technologies: Announced a major leadership transition; founder Nitish Mittersain will transition from Managing Director to Founder & Non-Executive Director effective October 12, 2026, while Whole-time Director Rohit Sharma will step down in January 2027.

Tags: India Daybook Stocks in News Corporate News Stock Market Company News