Market Bizzz

ICICI Bank’s net profit rose 5.2% to Rs 12,359 crore in Q2, exceeding market expectations due to lower provisions. Despite a predicted marginal rise in credit cost, the bank anticipates better loan growth in the second half of the fiscal year, supported by government initiatives.

Nifty has broken above a key chart pattern, signalling a bullish trend. However, market breadth remains weak, and volatility has increased. This suggests caution is needed. Investors should focus on specific stocks and manage risk. Sectors like Pharma, Metal, and Auto are leading. Mid-caps may see mixed performance. Other sectors are lagging but showing improvement.

Jaiprakash Power Ventures reported its September quarter FY26 net profit at Rs 182.10 crore. This figure is nearly the same as the Rs 182.66 crore profit from the previous year. Total income saw an increase to Rs 1,478.49 crore. Expenses also rose to Rs 1,186.48 crore. The company is part of the Jaypee Group and operates power projects across India.

Reliance Industries has announced strong financial results for the September quarter. The company’s profit saw a significant 16% increase compared to the previous year. This growth was fueled by excellent performance across its key sectors, including oil-to-chemicals, telecom, and retail. Jio and Reliance Retail also posted impressive gains. The company is also making strides in its new energy initiatives.

JSW Infrastructure will invest ₹4,000 crore in its port operations and ₹1,500 crore in its logistics arm in FY26. This spending will support both organic and inorganic growth. The company reported a profit after tax decline of 3.5% for the June quarter. Total revenue increased by 26% year-on-year.

Piramal Finance reported a two-fold increase in net profit to ₹327 crore, driven by a 28% rise in net interest income. Poonawalla Fincorp swung to a profit of ₹74 crore from a loss, with net interest income growing over 37%. Both companies saw significant growth in assets under management.

An uptrend signal is generated when the RSI value crosses above 50 from below.

Infosys reported a 13% YoY increase in net profit to Rs 7,364 crore for Q2 FY26, with revenue rising 9% YoY to Rs 44,490 crore. The IT major also declared an interim dividend of Rs 23 per share and revised its FY26 revenue guidance upwards. Brokerage firm Nuvama maintained a ‘Buy’ rating, citing strong revenue growth in constant currency terms.

The Securities and Exchange Board of India (SEBI) has, in an interim order dated October 15, directed several entities involved in insider trading in the scrip of Indian Energy Exchange Ltd. (IEX) to deposit a total of Rs 173.14 crore.