Stocks to watch, Oct 16: YES Bank, Mankind Pharma, TechM, Wipro, DLF, Shoppers Stop, Punjab National Bank

The domestic stock market is expected to open gap-up on Friday, October 16. The GIFT NIFTY futures suggest that the NIFTY50 index will open 107 points higher.

The company's board has recommended a 1:1 bonus issue, under which shareholders will get one bonus share for every share held, as the company marks its 40th anniversary.

The bonus shares are expected to be credited by December 15, according to a regulatory filing.

This is the first bonus issue by Tech Mahindra in 11 years. The company last issued bonus shares in the ratio of 1:1 in March 2015.

The Pune-based company had posted a net profit (attributable to owners of the company) of ₹1,194.5 crore in the year-ago period.

Tech Mahindra's revenue from operations rose 15.6% to ₹16,180.2 crore during the quarter under review, up from ₹13,994.9 crore in Q2 FY26.

Sequentially, profit and revenue were up by 8% and 3%, respectively.

The Bengaluru-headquartered company had a net profit (attributable to owners of the company) of ₹3,246.2 crore in the year-ago period, Wipro said in a regulatory filing.

Revenue from the company's IT services business stood at $2,611.5 million, unchanged sequentially and up 0.3% year-on-year.

For the October-December quarter, Wipro expects IT services revenue of $2,571-$2,625 million, which translates to a sequential change of (-) 1.5% to (+)0.5% in constant currency. Wipro CEO and Managing Director Srini Pallia said the third quarter would remain affected by seasonal furloughs.

Wipro's revenue from operations rose 9.1% to ₹24,752.7 crore, up from ₹22,697.3 crore in Q2 FY26.

Sequentially, profit fell 4.5%, while revenue went up by 1%.

NSE filings showed that Persistent Systems recorded a 27.2% decline in its net profit after tax (PAT) to ₹352 crore in the second quarter of FY27, in comparison to ₹483 crore in the previous quarter of the current fiscal year.

The company’s fall in PAT was largely driven by the ₹185.34 crore exceptional expense related to the proposed Nagarro acquisition in the period under review.

These orders, coming from a mix of major power producers, module manufacturers, EPC companies, and other customers, are for a mix of solar cell and module supplies (total 2,308 MW) and EPC project execution. The orders exclude orders received from the retail market segment.

Besides, Premier Battery Technologies, a wholly-owned subsidiary of the Company, entered into a binding Term Sheet on September 10, 2026, with RCT Energy India Private Limited (RCT India), part of RCT Group, Germany.

The agreement is for establishing Premier Energies Storage Solutions Private Limited (PESSPL), as a strategic joint venture company of PBTPL and RCT India, for setting up a 12 GWh BESS manufacturing facility, including the first phase, with a capacity of a 6 GWh plant, expected to be set up in FY 27-28 at Seetharampur, Telangana.

The proposed joint venture company will cater to a range of BESS applications across commercial, industrial, and utility-scale segments.

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, the company said in a regulatory filing.

To facilitate the buyout, Mankind Pharma's board has 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.

The two schemes, Kotak Medium Term Fund and Kotak Credit Risk Fund, hold Yes Bank AT1 bonds that were valued at zero after the fund house said they were written off during the reconstruction of the private sector lender in March 2020, in a statement on Thursday.

The suspension came earlier on Thursday, before the Supreme Court delivered its judgment in the Yes Bank AT1 bond matter later in the day, restoring the bonds.

Explaining the decision, Kotak Mahindra AMC said it had proactively suspended subscriptions in both schemes "as a prudent measure to safeguard the interest of our investors".

Akasa Air separately said that in view of the prevailing security situation in the Middle East, it has extended the suspension of all flights to and from Riyadh until October 24 and Jeddah until October 21.

On Tuesday, IndiGo, Air India Express, Air India and Akasa Air had announced cancelling flights connecting Saudi Arabian cities till October 17.

"Following a careful assessment of the evolving situation in Saudi Arabia, flights to and from Riyadh, Jeddah, Dammam and Madinah stand cancelled until 24 October 2026 (inclusive)," IndiGo said in a post on X on Thursday.

The Department of Investment and Public Asset Management (DIPAM) Secretary said Life Insurance Corporation of India (LIC), the present promoter of the bank, will be replaced by the strategic buyer as the future promoter.

The government on Wednesday approved the sale of a 60.72% stake in IDBI Bank to Canada's Fairfax Financial Holdings for about ₹53,000 crore ($5.5 billion), in what would be the largest foreign investment in an Indian bank and a major milestone in the country's long-delayed banking privatisation drive.

"The company has received the Income Tax Appellate Tribunal order for eight years from F.Y. 2013-14 to F.Y. 2019-20 & F.Y. 2021-22 wherein the issues have been majorly allowed in favour of the company, having a positive tax impact (including interest) of ₹1,30,000 million (approx)," Maruti Suzuki said in an exchange filing.

"The company would be reducing primarily the interest component from the contingent liability to the tune of ₹63,000 million (approximately). The company will file an application before the jurisdictional Assessing Officer to give effect to this order," it added.

Maruti Suzuki noted that this order will have no major impact on financials, operations or other activities of the company.

The company registered a net profit of ₹68.98 crore in the July-September quarter a year ago, according to a regulatory filing by Metro Brands.

Its revenue from operations increased 12.15% to ₹730.27 crore in the September quarter. It was ₹651.14 crore in the corresponding period of the previous fiscal.

"EBITDA for the quarter stood at ₹198 crore, with an EBITDA margin of 27.1%, registering a 15.8% year-on-year growth," the company said in its earnings.

While NTPC is India's largest power generation company, Africa50 is a pan-African infrastructure investor and asset manager.

In a statement, NTPC said it has signed a cooperation agreement with Africa50 to identify, assess and develop power-generation projects and cross-border electricity trading opportunities across Africa.

The partnership will draw on NTPC's engineering and operational capabilities and Africa50's project development and financing expertise to advance commercially viable power projects, attract investment and expand reliable electricity supply for households and businesses.

The company, which is in the manufacturing of solar modules and cells, had clocked a net loss of ₹237.86 crore in the second quarter of the preceding 2024-25 financial year.

In an exchange filing, Emmvee Photovoltaic Power said its total income increased to ₹1,578.89 crore in July-September FY26 from ₹1,149.38 crore a year ago.

The company garnered revenue of ₹1,779.64 crore from the module and ₹15.1 crore from the EPC projects business segments.

The company earned a net profit of ₹93.46 crore a year ago, according to a regulatory filing by DB Corp.

Its revenue from operations slipped 5.46% to ₹580.81 crore in the September quarter under review. It was ₹614.41 crore in the corresponding period of the previous fiscal.

The company, which provides EPC services in the renewable energy space, clocked a net loss of ₹477.62 crore in the second quarter of the preceding 2024-25 financial year.

In an exchange filing, SWREL said its total income fell to ₹1,541.72 crore in July-September FY26, from ₹1,859.65 crore in the same period a year ago.

The company managed to reduce expenses, including construction costs, to ₹1,524.89 crore from ₹1,782.96 crore in the year-ago quarter.

In a separate statement, the company said its order book pipleline stands at ₹12,480 crore, giving strong visibility of future revenue.

The company posted a net profit of ₹695 crore in the year-ago period.

Its total income rose about 70% to ₹1,699.41 crore in the second quarter of FY27 from ₹1,002.40 crore in the corresponding quarter of the previous fiscal year, according to a regulatory filing.

Interest income rose to ₹1,257.68 crore in the July-September quarter from ₹392.37 crore in the year-ago period.

The company's total expenses rose to ₹1,166 crore during the quarter from ₹436.50 crore in the corresponding period last fiscal.

The hotel is a greenfield project in partnership with Kripanidhi Hospitality Pvt. Ltd

"Lucknow continues to witness steady growth driven by infrastructure development and expanding business activity. This signing strengthens IHCL's presence in one of North India's key commercial and administrative centres. We are delighted to partner with Kripanidhi Hospitality Pvt Ltd for this project," IHCL Executive Vice President - Real Estate and Development, Suma Venkatesh said in a statement.

With this addition, IHCL will have 64 hotels in Uttar Pradesh, including 27 under development.

Sanjay Banga, CEO and managing director of Tata Power Renewable Energy Ltd, said a state incentive similar to those offered by Odisha, Bihar and Assam on top of the Centre's subsidy could make rooftop solar installations more affordable, particularly for low-income households.

Tata Power has installed around 6,000 rooftop solar systems in West Bengal out of nearly 22,000 households covered under the programme in the state so far, according to company data.