Tech Mahindra reported a 32.74% jump in consolidated net profit to ₹1,585.6 crore for the July‑September quarter of FY27 (Q2 FY27), driven by strong volume growth, cost savings and rupee depreciation that lifted operating profit. Revenue from operations rose 15.6% to ₹16,180.2 crore, up from ₹13,994.9 crore in Q2 FY26, while sequential profit and revenue increased by 8% and 3% respectively. The Pune‑based IT services firm’s board has recommended a 1:1 bonus issue, with bonus shares expected to be credited by December 15, marking the first such issue in 11 years since March 2015. The company posted a net profit attributable to owners of ₹1,194.5 crore in the year‑ago period.

Wipro, another IT services company, reported a marginal decline of 1.40% in consolidated net profit to ₹3,200.6 crore for the July‑September quarter of FY27, as other income fell following the completion of its share buyback in June. The Bengaluru‑headquartered firm’s net profit attributable to owners was ₹3,246.2 crore in the year‑ago period. Revenue from the company’s IT services business stood at $2,611.5 million, unchanged sequentially and up 0.3% year‑on‑year. Wipro expects IT services revenue of $2,571‑$2,625 million for the October‑December quarter, a sequential change of (‑)1.5% to (+)0.5% in constant currency.

Mankind Pharma announced it will acquire a 70% stake in Belgium‑based biotechnology firm Armed Cell Therapeutics B.V. (ACTx) for 48 million euros (around ₹511 crore), marking its strategic foray into next‑generation CAR‑T cancer therapies. The acquisition will be executed in instalments through its wholly‑owned subsidiary, Mankind Pharma (Netherlands) B.V., which has entered into a definitive agreement for the transaction. To facilitate the buyout, Mankind Pharma’s board approved an additional investment of up to 45 million euro in Mankind Netherlands, raising the aggregate investment limit in the arm to 50 million euro, inclusive of an earlier approved limit of 5 million euro.

Persistent Systems posted a 27.2% sequential decline in consolidated net profit to ₹352 crore in Q2 FY27, compared to ₹483 crore in the previous quarter, largely driven by a ₹185.34 crore exceptional expense related to the proposed Nagarro acquisition. Premier Energies received orders aggregating to ₹4,001 crore in the July‑September quarter, covering solar cell and module supplies (2,308 MW) and EPC project execution, excluding retail market orders. The company’s wholly‑owned subsidiary, Premier Battery Technologies, entered a binding Term Sheet with RCT Energy India Private Limited to establish a 12 GWh BESS manufacturing facility, with a first‑phase 6 GWh plant expected in FY27‑28 at Seetharampur, Telangana.

Other notable developments include Kotak Mahindra Asset Management Company suspending subscriptions in two debt mutual fund schemes holding YES Bank’s AT1 bonds as a precautionary measure, IndiGo extending flight cancellations to Saudi Arabian cities until October 24 amid security concerns, and IDBI Bank’s strategic sale to Fairfax Financial Holdings for about ₹53,000 crore ($5.5 billion). Maruti Suzuki received a favourable Income Tax Appellate Tribunal order covering eight financial years, with a positive tax impact of approximately ₹13,000 crore. Metro Brands reported a 12% rise in consolidated net profit to ₹77.28 crore for the September quarter.

The domestic stock market is expected to open gap‑up on Friday, October 16, with GIFT NIFTY futures suggesting the NIFTY50 index will open 107 points higher. A list of 31 companies slated to report September quarter earnings today includes DLF, Punjab National Bank, LTM, Federal Bank, Bajaj Housing Finance, Oberoi Realty, Himadri Speciality Chemical, Urban Company, Shoppers Stop, Ujjivan Small Finance Bank, and Crompton Greaves Consumer Electrical, among others. Investors will also monitor Tech Mahindra’s performance as it marks its 40th anniversary with the bonus issue announcement.