🇮🇳 India Daybook: Jio Platforms Set for Blockbuster Listing; Tata Communications Unveils $450M AI Network Push
📍 IPO & LISTINGS
- Jio Platforms / Reliance Industries: Jio Platforms makes its stock market debut on October 28 at an IPO valuation of ₹10.3 lakh crore, issuing 27 crore fresh shares at ₹1,119 each. At this valuation, Jio Platforms ranks as the country's fourth-largest company by market capitalization, drawing significant investor attention to parent entity Reliance Industries.
📍 CAPITAL EXPENDITURE & INVESTMENTS
- Tata Communications: The digital infrastructure provider announced plans to invest $400–$450 million over the next three to five years to develop a 10,000-km high-speed fibre network across India. The network will offer 7.2 petabytes of capacity across three phases, connecting major artificial intelligence hubs and hyperscale data centres.
📍 EARNINGS & FINANCIAL RESULTS
-
Gandhar Oil Refinery: Consolidated Q2 net profit surged nearly fivefold to ₹175 crore compared to ₹36.1 crore in the year-ago period. Revenue from operations advanced 72.9% year-on-year to ₹1,847 crore, while EBITDA margin expanded to 15.6%.
-
Raymond: The lifestyle and textile player reported a sharp jump in Q2 net profit to ₹32 crore against ₹13.9 crore last year. Revenue rose 24.1% to ₹655 crore, with the company maintaining its net-debt-free status and holding a net cash surplus of ₹77 crore.
-
Schaeffler India: Reported a 20.8% year-on-year rise in consolidated net profit to ₹349 crore for the September quarter. Revenue jumped 26.8% to ₹3,089 crore, while EBITDA increased 17.3% to ₹537 crore.
-
Tanla Platforms: Posted a consolidated net profit of ₹146 crore, up 3% quarter-on-quarter, with revenue rising 10.3% QoQ to ₹1,352 crore. The board declared an interim dividend of ₹6 per equity share.
-
LT Foods: Net profit grew 9.9% year-on-year to ₹180 crore for Q2, while revenue rose 16.8% to ₹3,231 crore. EBITDA grew 8.7% to ₹336 crore, though EBITDA margin contracted slightly to 10.4%.
-
Kirloskar Brothers: Net profit rose 11.5% year-on-year to ₹75.2 crore for the second quarter. Revenue climbed 24.2% to ₹1,277 crore, while EBITDA improved 14.7% to ₹124 crore.
-
Maruti Suzuki India: Shares will be watched closely after the passenger vehicle leader reported a 26% year-on-year increase in revenue for the September quarter.
-
Indian Overseas Bank: The public sector lender reported strong operating metrics for Q2 FY27, with total deposits rising 20.16% year-on-year to ₹4,070 billion and CASA deposits gaining 20.73% to ₹1,650 billion.
📍 MANAGEMENT CHANGES
- Hexaware Technologies: Vivek Jetley takes charge as Chief Executive Officer on October 28, 2026, completing the leadership transition as outgoing CEO Srikrishna Ramakarthikeyan steps down to assume a senior advisory role.
