Indian Markets May Open Lower as GIFT Nifty Falls 104.50 Points; Paytm, Tata Consumer and REC in Focus
Indian equity markets may come under pressure on Tuesday, October 27, following the previous session's gains. At around 7:30 a.m., GIFT Nifty was trading near 22,669, down 104.50 points, or 0.46%. Global market cues, rising crude oil prices and quarterly earnings announcements are expected to remain key factors for market participants. However, the decline in GIFT Nifty does not necessarily indicate a weaker opening for domestic equities.
On Monday, October 26, Indian equity benchmarks closed higher. The Sensex rose 482.92 points to 73,606.75, while the Nifty gained 153.20 points to close at 22,753.20. The gains followed four consecutive trading sessions of declines.
Market participants are monitoring international developments, including concerns over potential oil supply disruptions following attacks on Saudi Arabia. Brent crude prices have reached around $115 per barrel, raising concerns for major oil-importing countries such as India.
Investors are also awaiting the US Federal Reserve's interest rate decision. Market experts believe Indian equities could trade within a limited range until greater clarity emerges on global developments.
Tata Consumer Products reported a 15.7% year-on-year increase in net profit to Rs 470.1 crore in the July-September quarter, compared with Rs 406.5 crore in the corresponding quarter last year. Revenue increased 14% to Rs 5,661.1 crore.
One97 Communications, the parent company of Paytm, reported quarterly profit of approximately Rs 225 crore, compared with around Rs 21 crore in the corresponding period last year. Revenue rose 28.5% to Rs 2,648 crore.
Gaming company Nazara Technologies returned to profitability, reporting a profit of Rs 35.36 crore, compared with a loss of Rs 33.9 crore in the same period last year. Revenue increased 52.6% to Rs 803.2 crore.
KFin Technologies reported a 7.5% increase in profit to Rs 100.3 crore, while revenue rose 30% to Rs 401.8 crore.
State-owned financial company REC reported a 21.22% decline in net profit to Rs 3,477.7 crore, compared with Rs 4,414.9 crore in the corresponding period last year. Net interest income also declined 9% to Rs 5,478.4 crore.
Meanwhile, Aequs reported a wider quarterly loss of Rs 52.3 crore, compared with Rs 20.59 crore in the corresponding period last year. However, its revenue increased 45.3% to Rs 409.1 crore.
HCL Technologies has completed the acquisition of a 100% stake in Croatia-based Robotiq.ai through its Austria-based subsidiary. The transaction is expected to strengthen the company's automation business.
The board of Genus Power Infrastructures has approved a share buyback worth up to Rs 148.20 crore. The company will repurchase up to 47.5 lakh shares at Rs 312 per share.
Highway Infrastructure has secured a contract worth Rs 91.78 crore from the National Highways Authority of India (NHAI) to operate the Baiti Kala toll plaza in Uttar Pradesh.
Separately, ICICI Prudential Real Estate Development Fund will invest up to Rs 210 crore in Ten X Realty West, an associate company of Raymond Realty.
Several major companies are scheduled to announce their results for the second quarter of financial year 2026-27 on Tuesday. These include Larsen & Toubro, Maruti Suzuki, Bajaj Auto, SBI Life, Cipla, ACC, Indus Towers, Tata Capital and Mazagon Dock.
Other companies scheduled to report results include JSW Cement, JSW Infrastructure, IndiaMART, Concord Biotech, Honeywell Automation, Indoco Remedies, Jubilant Ingrevia, MedPlus Health, Max Financial, Piramal Pharma, Radico Khaitan, Raymond, SAIL, Syngene International, United Breweries and Waaree Energies.
