UKRAINE’S ZELENSKIY SAYS TRUMP IS URGING UKRAINE TO SURRENDER TO RUSSIA

Q2 Earnings

Good-ICICI Bank, PNB, Ixigo, Central Bank of India, Kross

Inline/Mixed-Urban Co, Axis Bank, HDFC Bank, DLF, Bajaj Housing Finance, Tejas Network, Bajaj Finserv (Operational Update), IDBI Bank, Rossari Biotech, Bajaj Healthcare, India Cements, Antony Waste (Operational Update), Yes Bank

Weak- Jindal Saw, LTM

EARNINGS WATCHLIST

🟢 POSITIVE

• ICICI Bank – NII growth at 17% YoY

• HDFC Bank – Numbers in line with expectations

• Axis Bank – PAT beats estimates on NII and credit costs

• PNB – Provisions dropped sharply

• Ixigo – Turnaround quarter

• Central Bank of India – NIM up 12 bps YoY

• Kross – Revenue up 79% YoY

• Bajaj Healthcare – Stable operational performance

🔴 NEGATIVE

• Urban Company (InstaHelp) – Losses remain elevated; fundraise may see mixed reactions

• Yes Bank – AT-1 bonds; statutory auditors issued a qualified review report

• LTM – Muted quarter; margins missed estimates and profit declined

ACTION FOR DAY

Nifty Weekly Expiry (Tuesday Trading Holiday)

UAE Foreign Minister to Visit India

China Macro Data

Lockin Expiry-Manika Plastech, Om Power Transmission, Anantam Highways Trust

Q2 Earnings-Bajaj Finance, LTTS

Q2 Earnings-UltraTech Cement, Waaree Renewable Tech

CHINA DATA WATCH

CHINA (SEP) GDP YoY ATUAL: 4.5% VS 4.3% PREVIOUS;EST 4.4%

CHINA (SEP) GDP YTD YoY ATUAL: 4.6% VS 4.7% PREVIOUS;EST 4.6%

CHINA (SEP) GDP SA QoQ ATUAL: 1.2% VS 0.9% PREVIOUS;EST 1%

CHINA (SEP) Retail Sales YoY ATUAL: 1.1% VS 0.4% PREVIOUS;EST 0.5%

CHINA (SEP) Retail Sales YTD YoY ATUAL: 1.1% VS 1.1% PREVIOUS

CHINA (SEP) Industrial Production YoY ATUAL: 5.5% VS 5.2% PREVIOUS;EST 5.5%

CHINA (SEP) Industrial Production YTD YoY ATUAL: 5.3% VS 5.3% PREVIOUS

CHINA (SEP) Surveyed Jobless Rate ATUAL: 5.2% VS 5.3% PREVIOUS;EST 5.3%

CHINA (SEP) Fixed Assets Ex Rural YTD YoY ATUAL: -7.2% VS -7.2% PREVIOUS;EST -7.3

CHINA (SEP) Property Investment YTD YoY ATUAL: -20.6% VS -19.9% PREVIOUS;EST -20%

CHINA (SEP) Residential Property Sales YTD YoY ATUAL: -13.7% VS -13.1% PREVIOUS

Q2 AI REV CHECK - LTM LEADS

LTM : 13.4% OF QUARTERLY REV

TCS : 10.3% OF ANNUALIZED REV

HCLT : 5.9% OF QUARTERLY REV

📊 TODAY’S Q2 RESULTS – OCT 19, 2026

🏢 NIFTY 50

• UltraTech Cement
• Bajaj Finance

🏦 BANKING & FINANCIALS

• Union Bank of India
• IREDA
• Piramal Finance

🏭 INDUSTRIALS, ENERGY & INFRASTRUCTURE

• Hindustan Zinc
• L&T Technology Services
• HFCL
• Waaree Renewable Technologies
• Jaiprakash Power Ventures
• GOCL Corporation
• Nelco

🏗 REAL ESTATE & CEMENT

• Sobha
• Varmora Granito
• Elevate Campuses

🚗 AUTO

• SML Mahindra

🏭 OTHER COMPANIES

• Just Dial
• Gallantt Ispat
• Bhansali Engineering Polymers
• Delta Corp
• Tatva Chintan Pharma Chem
• Mangalam Global Enterprise
• AksharChem India
• A-One Steels India
• Melstar Information Technologies

🏦 KARUR VYSYA BANK (KVB) CONCALL HIGHLIGHTS

📊 Q2 FY27 CONCALL HIGHLIGHTS

💰 BUSINESS GROWTH
▪️ Total Business: ₹2,39,712 Cr | ⬆️ 18% YoY, 5% QoQ

▪️ Advances: ₹1,11,589 Cr | ⬆️ 7% QoQ

▪️ Deposits: ₹1,28,123 Cr | ⬆️ 5% QoQ

▪️ Retail Term Deposits: ⬆️ 6% QoQ, accounting for ~73% of total term deposits

📈 PROFITABILITY
▪️ Net Profit: ₹788 Cr | ⬆️ 37% YoY, 4% QoQ

▪️ Operating Profit: ₹1,162 Cr | ⬆️ 14% YoY, 6% QoQ

▪️ Net Interest Margin (NIM): 4.26%

▪️ NIM including one-off recoveries: 4.34%

▪️ Return on Assets (RoA): 2.1%

🏦 KARUR VYSYA BANK (KVB) CONCALL HIGHLIGHTS

✅ ASSET QUALITY

▪️ Gross NPA: 0.69% | Improved by 5 bps

▪️ Net NPA: 0.18% | Improved by 1 bp

▪️ Gross Slippages: ₹123 Cr

▪️ Annualised Slippages: 0.44%

▪️ SMA 30+: 0.22%

▪️ Total Provisions: 1.65% of advances

▪️ Additional ₹25 Cr added to floating provisions during the quarter

🪙 GOLD LOAN PORTFOLIO

▪️ Jewel Loan Portfolio: ₹32,153 Cr

▪️ Share of Total Advances: 29%

▪️ Agri Gold Loan LTV: 67%

▪️ Non-Agri Gold Loan LTV: 59%

▪️ Automated digital monitoring alerts in place

AXIS BANK FALLS 4 % AFTER Q2 RESULTS

PROFIT BOOKINGS IN IT STOCKS AFTER DREAM RUN IN LAST WEEEK