🇮🇳 India Daybook: Tech Mahindra Approves 1:1 Bonus After Q2 Profit Jumps 33%, BDL Bags ₹1,307-Cr Navy Deal

📍 ORDER WINS & CONTRACTS

• Bharat Dynamics Limited (BDL): The defence PSU signed a domestic contract valued at approximately ₹1,307 crore (plus taxes; total project value ₹1,543 crore) with the Indian Navy for the supply of indigenous Varunastra heavyweight torpedoes. The order carries an execution timeline of 42 months and bolsters BDL's long-term order book.

📍 EARNINGS & CORPORATE ACTIONS

• Tech Mahindra: Reported a 32.7% YoY surge in consolidated net profit to ₹1,586 crore for Q2 FY27, backed by revenue growth of 15.6% YoY to ₹16,180.2 crore. The company's EBIT rose 40.5% YoY to ₹2,387 crore with margins at 14.8%. The board recommended a 1:1 bonus share issue and declared an interim dividend of ₹15 per equity share. New deal wins crossed $1.02 billion during the quarter.

• Wipro: Posted a consolidated net profit of ₹3,200 crore for Q2 FY27, down 1.9% YoY and 4.5% sequentially. Consolidated revenue from operations increased 9% YoY (up 1.1% QoQ) to ₹24,752.7 crore. Operating margin improved by 50 bps sequentially to 16.5%, though overall bookings witnessed a slowdown.

• Persistent Systems: Recorded revenue of ₹4,663.9 crore, climbing 30.3% YoY and 8.4% sequentially. Reported net profit declined 25.4% YoY to ₹351.51 crore after absorbing a one-off charge of ₹185.34 crore connected to its planned acquisition of Nagarro. Adjusted profit after tax stood higher by 5% YoY at ₹495.15 crore.

• Indian Railway Finance Corporation (IRFC): Announced a 10.2% YoY increase in Q2 net profit to ₹1,958.5 crore. Net Interest Income (NII) jumped 30.2% YoY to ₹1,949 crore with non-performing assets continuing at zero. The board declared an interim dividend of ₹1.50 per share.

• HDFC Life Insurance: Clocked a 13.6% YoY rise in standalone net profit to ₹508 crore for the September quarter. Net premium income advanced 15.7% YoY to ₹21,727 crore.

• IIFL Finance & Angel One: IIFL Finance reported a 93% YoY jump in quarterly net profit to ₹766 crore. Angel One reported a 58% YoY increase in quarterly net profit driven by steady growth in client trading activity.

• Jattashankar Industries: The dyed-yarn manufacturer will be closely tracked ahead of its 1:10 stock split record date scheduled for October 19.

📍 REGULATORY UPDATES

• BSE, Angel One & Broking Stocks: Exchange and brokerage stocks will react to the revised circular issued by the Securities and Exchange Board of India (SEBI) modifying the Closing Auction Session (CAS) framework.

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