🇮🇳 India Daybook: Reliance Eyes Q2 & NCD Issue, Trent Posts Profit Rise Alongside Leadership Shift
📍 EARNINGS WATCH & RESULTS
- Trent: The Tata Group retail major reported an 8.6% year-on-year increase in consolidated net profit to ₹490 crore for Q2, while revenue rose 22.5% YoY to ₹5,788 crore. Operating EBITDA climbed 29.6% to ₹1,054 crore with margins widening to 18.2%.
- Coal India: The state-run mining giant delivered strong quarterly results, with Q2 net profit jumping 57% year-on-year to ₹6,547 crore.
- InterGlobe Aviation (IndiGo): Reported a narrowed consolidated net loss of ₹1,879 crore in Q2 compared to ₹2,581.7 crore in the corresponding quarter last year. Revenue increased 25.9% YoY to ₹23,364 crore, even as high aviation turbine fuel costs impacted margins.
- Motilal Oswal Financial Services: Posted strong earnings growth as consolidated Q2 net profit nearly tripled year-on-year to ₹1,081 crore.
- V-Guard Industries: Q2 net profit rose 71% year-on-year to ₹111.67 crore on resilient demand across product categories.
- Indian Energy Exchange (IEX): Reported a 12.9% YoY rise in net profit to ₹139.2 crore for the September quarter, driven by a 12.7% increase in electricity trading volumes to 39.7 billion units.
- Suzlon Energy: Remains in focus after reporting a sharp decline in Q2 net profit despite registering top-line revenue expansion.
📍 MANAGEMENT CHANGES
- Trent: Noel Tata will step down as Chairman on November 11, 2026, upon reaching the age of 70, and will assume the role of Chairman Emeritus from November 12. Bahram Vakil has been designated to take over as Chairman effective November 12.
📍 CORPORATE ACTIONS & BOARD MEETS
- Reliance Industries: The board convenes today, October 30, to review and approve Q2 standalone and consolidated financial results and consider raising capital through the private placement of non-convertible debentures (NCDs).
📍 INVESTMENTS, JVs & ACQUISITIONS
- Praj Industries: Approved an investment of ₹100 crore in its joint venture with Bharat Petroleum Corporation Ltd (BPCL) to develop Compressed Bio-Gas (CBG) facilities across India.
- Ashiana Housing: Acquired a 4.4-acre land parcel in Gurugram featuring an estimated project revenue potential of ₹1,300 crore.
- Wipro: The technology services provider announced that its arm has picked up a 20% equity stake in artificial intelligence platform FLARRE.AI.
- Ambuja Cements: Approved the acquisition of a 26% stake in SWE Renewables to scale up renewable power sourcing for its operations.
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