Tata Motors Ltd – OCTOBER 2026 COMMERCIAL VEHICLE SALES

Monthly sales for October 2026:

- Total CV sales: 47,652 units (up 27% YoY)

- Total Domestic CV sales: 39,784 units (up 13% YoY)

- International Business sales: 7,868 units (up 225% YoY)

- HCV Trucks: 12,030 units (up 12% YoY)

- ILMCV Trucks: 7,213 units (up 17% YoY)

- Passenger Carriers: 3,826 units (up 20% YoY)

🚗 TATA MOTORS PASSENGER VEHICLES – OCTOBER 2026 SALES

• Total Sales: 75,426 units, up 23% YoY.

• Domestic Sales: 73,894 units, up 21% YoY.

• International Business: 1,532 units, up 852% YoY.

• EV Sales (Domestic + International): 16,244 units, up 75% YoY.

Strong 23% YoY growth in total sales, with EV sales rising 75%.

Bharat Coking Coal Ltd – PROVISIONAL MONTHLY PRODUCTION PERFORMANCE

Provisional monthly production performance for October 2026:

- Raw Coal Production: 2.86 Million Tonnes (7.1% growth YoY)

- Coking Coal Production: 2.82 Million Tonnes (9.8% growth YoY)

- Non Coking Coal Production: 0.05 Million Tonnes (-57.7% growth YoY)

- Underground Mines Production: 0.02 Million Tonnes (-75.6% growth YoY)

- Opencast Mines Production: 2.84 Million Tonnes (9.6% growth YoY)

- Washed Coking Coal Production: 0.12 Million Tonnes (16.1% growth YoY)

JAY JALARAM TECHNOLOGIES H1 FY27 (CONSOLIDATED)

• Net Profit: ₹9.34 Cr ↑80.42% (YoY) | ↑82.83% (HoH)

• Revenue: ₹655.81 Cr ↑83.71% (YoY) | ↑32.53% (HoH)

• EBITDA: ₹16.08 Cr ↑154.27% (YoY) | ↑77.97% (HoH)

• EBITDA Margin: 2.45% vs 1.77% (YoY) | 1.83% (HoH)

🚛 EICHER MOTORS (VECV) – OCTOBER 2026 SALES UPDATE

• Total VECV Sales: 10,861 units, up 34.9% YoY.

• Eicher Trucks & Buses: 10,587 units, up 36.2%.

• Domestic Sales: 9,676 units, up 36.9%.

• Exports: 911 units, up 30%.

• Volvo Trucks & Buses: 274 units, down 1.8%.

April–October FY27:

• Total VECV Sales: 63,746 units, up 23.6%.

• Eicher Trucks & Buses: 62,157 units, up 23.9%.

• Domestic Sales: 58,081 units, up 25.7%.

• Exports: 4,076 units, up 2.9%.

• Volvo Trucks & Buses: 1,589 units, up 13.4%.

GAIL INDIA Q2 FY27:

FY27 GAS MARKETING PBT GUIDANCE ₹9,000–9,500 CR; ₹12,900 CR CAPEX PLANNED, GAIL GAS IPO TARGETED IN FY28

POWER GRID CORPORATION Q2 FY27 (CONSOLIDATED)

• Net Profit: ₹3,866.16 Cr ↑8.41% (YoY) | ↑7.44% (QoQ)

• Revenue: ₹11,816.22 Cr ↑2.97% (YoY) | ↑2.78% (QoQ)

• EBITDA: ₹9,720.00 Cr ↑6.65% (YoY) | ↑1.92% (QoQ)

• EBITDA Margin: 82.26% vs 79.42% (YoY) | 82.95% (QoQ)

RUSSIA’S EMERGENCIES MINISTRY MOBILE APP HAS BEEN HIT BY A MASSIVE CYBERATTACK THAT RESULTED IN THE SPREAD OF FAKE INFORMATION, RUSSIAN NEWSWIRES QUOTE THE MINISTRY AS SAYING

Earnings Watchlist

POSITIVE

Muthoot Finance- FY27-Gold loan growth guidance upgraded

Ramkrishna Forgings, Spandana Sphoorthy, Ganesha Eco -Turnaround quarter

Delhivery-Strong beat on margins

IOCL-Better refining performance

Reliance-Earning beat from O2C business

Syrma SGS-Earnings beat on all fronts

Bank of Baroda-Raises credit growth and deposit guidance

PB Fintech-Core insurance growth remains strong

Nitin Spinners-Margins jump 470bps YoY

Zen Tech-Revenue up 2x YoY

Pace Digiteak-Beat across all parameters

NEGATIVE

Indigo Paints-Margins impacted by higher RM costs

IGL-Higher gas sourcing costs impacts numbers

STOCKS WATCHLIST

🟢 POSITIVE

• InterGlobe Aviation – Govt notifies airfare rules under Bharatiya Vayuyan Niyam, 2026.

• TVS Motors, Eicher Motors, Maruti Suzuki – Strong October auto sales.

• Waaree Energies – US arm starts commercial operations.

• Jindal Steel – Promoter group buys 3.5 lakh shares.

• Oriental Aromatics – Pact with Unilever Industries.

• Rallis India – ₹408 Cr tax demand dropped.

• Alembic Pharma – Receives USFDA approval for blood cancer drug.

• NCC – Secures ₹1,862 Cr orders in October.

🔴 NEGATIVE

• M&M, Tata Motors CV, Escorts Kubota – Weaker-than-expected October sales.

• United Spirits – Maharashtra tax authorities conduct search.

• Yes Bank – Receives Axis Trustee notice on AT-1 bonds.

• Granules India – Receives 11 Form 483 observations from USFDA at Hyderabad plant.

WHICH SECTORS TO WATCH?

IT SECTOR • IT stocks showing strong technical support.

Q2 RESULTS – POSITIVE • Delhivery • Engineers India • Syrma SGS • Ramkrishna Forgings • GE Vernova T&D • Spandana Sphoorthy • NTPC Green • PB Fintech • IOL Chemicals • Pranav Constructions • LCC Projects • Aarti Industries • Updater Services • Muthoot Finance • Zen Technologies • Nitin Spinners • Ganesha Ecosphere • Quality Power • Pace Digitek

Q2 RESULTS – WEAK • Crizac • Responsive Industries • Ganesh Housing • Indigo Paints • Sagar Cements • IGL • Finolex Industries • WPIL • Studds Accessories

AVIATION • InterGlobe Aviation – Govt notifies airfare rules under Bharatiya Vayuyan Niyam, 2026.

AUTO – STRONG SALES • TVS Motors • Eicher Motors • Maruti Suzuki • Coal India

AUTO – WEAK SALES • M&M • Tata Motors CV • Escorts Kubota

Opening Cues

Oils Falls On Mideast Diplomatic Push

Nikkei Slips On Tech Pressure

Weak China Manufacturing Data

Binance Restores Customer Withdrawals (After Hack)

OPEC+ To Maintain Oil Output For 3rd Month

Asian Markets Open Mixed

Oct GST Collection At 4-Year High

FII Shorts Unchanged At 89%

FIIs Buyers In Cash Market After 1 Session

📊 BROKERAGE RATINGS

🛢️ RELIANCE INDUSTRIES

• JPMorgan – Overweight | TP ₹1,675

• Jefferies – Buy | TP ₹1,710

🧪 NAVIN FLUORINE

• Jefferies – Buy | TP ₹10,540

• Kotak – Sell | FV ₹5,990

⛽ GAIL

• Citi – Buy | TP ₹200

• Jefferies – Hold | TP ₹185

📱 DIXON TECHNOLOGIES

• Kotak – Upgrade to Buy | FV ₹14,900

• Jefferies – Hold | TP ₹12,765

📊 NSE

• JPMorgan – Initiate Overweight | TP ₹2,130

💰 MUTHOOT FINANCE

• Jefferies – Hold | TP ₹2,700

📈 CDSL

• Jefferies – Hold | TP ₹1,315

🏢 PHOENIX MILLS

• Jefferies – Buy | TP ₹2,250

⚗️ AETHER INDUSTRIES

• Kotak – Sell | FV ₹1,120

🧪 DEEPAK NITRITE

• Kotak – Add | FV ₹1,690

📊 BROKERAGE RATINGS

🏦 BANK OF BARODA

• JPMorgan – Overweight | TP ₹310

• HSBC – Buy (Upgrade) | TP ₹284

• UBS – Buy | TP ₹300

• Jefferies – Hold | TP ₹275

• Citi – Buy | TP ₹310

BROKERAGE RATINGS

🚚 DELHIVERY

• JPMorgan – Overweight | TP ₹590

• Jefferies – Buy | TP ₹470

• Kotak – Buy | FV ₹550

• Citi – Buy | TP ₹545

💊 SUN PHARMA

• HSBC – Buy | TP ₹2,050

• BofA – Underperform | TP ₹1,850

• Kotak Neo – Add | TP ₹2,060

💻 PB FINTECH

• Jefferies – Buy | TP ₹1,540

• HSBC – Hold | TP ₹1,100

• Bernstein – Outperform | TP ₹1,085

🥤 VARUN BEVERAGES

• HSBC – Buy | TP ₹540

• Goldman Sachs – Buy | TP ₹520

• Jefferies – Buy | TP ₹530