Stocks to watch, Oct 8: Tata Power, TCS, Tata Steel, Senco Gold, PC Jeweller, Eveready Industries, Jubilant FoodWorks

The domestic stock market is expected to open marginally lower on Thursday, October 8. GIFT NIFTY futures suggest that the NIFTY50 index will open 20 points lower.

UnearthInsight expects margins to improve slightly for select tier-one IT services players such as TCS, Infosys and HCLTech. It expects mid-tier firms to sustain their current margins as they also absorb M&A integration costs.

Companies have started disclosing AI revenue. In the June quarter, Infosys said AI-related revenue made up 8.2% of its total revenue, and TCS reported annualised AI revenue of $2.6 billion.

The company's chief executive officer, Anirban Banerjee, said the product has been developed in-house over the last year, and claimed it to be the first such offering in India.

The battery maker has not made major investments for the product, he said, adding that the battery maker's understanding of the homecare market and distribution network were the primary drivers of such a product.

While its standalone revenue from operations, which consists of the domestic business, rose 11.6% YoY to ₹1,885.8 crore, the Bhartia family-promoted company said in its business update filed with the exchanges.

Like-for-like (LFL) growth for Domino's India stood at 4.1% during the quarter.

However, Domino's Eurasia, which operates in markets of Turkey, Azerbaijan, and Georgia, recorded a negative LFL growth of 2.1%, it said.

The company, as per its expansion plans, added 88 new stores, ending the quarter with 2,601 stores, while Domino's Eurasia added three new stores, ending the quarter with 798 stores.

Last month, the company said it has become debt-free, having cleared dues of all 14 consortium banks. The company had a total debt of around ₹3,000 crore.

In September 2024, PC Jeweller had opted for OTS (one-time settlement) for its outstanding dues with a consortium of banks.

According to a regulatory filing, the company's consolidated revenue grew about 28 per cent year-on-year during the July-September period of the 2026-27 fiscal year.

The company has received remittances of ₹142 crores during the quarter from its outstanding export debtors, PC Jeweller said.

"We also achieved the highest-ever topline of ₹5000 crore+ in H1 and a coveted landmark of ₹10,000 crore sales on a TTM basis," it added.

"Q3 FY27 is expected to witness strong seasonal demand, supported by underlying affinity for gold fuelled by wedding demand (~1.35 Cr weddings in CY 26), which is mostly price inelastic and providing a structural demand backdrop from wedding-led jewellery consumption; and a favourable festive calendar, including Dhanteras, Diwali, Durga Puja, Karwa Chauth, Chhath Puja and Christmas," it added.

The collaboration agreement was signed on the sidelines of the 2nd India-EFTA Prosperity Summit, reinforcing the growing India-Norway and India-EFTA partnership in technology, innovation and clean energy, a company statement said.

According to the statement, Tata Power, one of India’s largest integrated power companies, has partnered with Norway-based renewable energy technology company Ocean Sun to bring its innovative membrane-based floating solar technology to India.

The collaboration will see Tata Power and Ocean Sun undertake a 300 kWp floating solar pilot at Tata Power’s Mulshi reservoir in Maharashtra.

In a statement to the stock exchanges, the company said, "The Board of Ola Electric has approved a rights issue of up to ₹1,000 crore at ₹27 per share, payable in two calls. The issue price has been fixed by the board at about 26% below the current market price, allowing all existing shareholders to add to their holdings at a substantial discount."

60% of the issue price is payable on application, with the balance due on a final call on a date to be set by the board. A two-call structure gives shareholders more time to pay, and reflects that the company does not need all the money immediately.

The new company, Bharat Tiki Tar Shell Pvt Ltd, has begun operations following a joint venture and share subscription agreement signed on June 26, BPCL said in a statement. The venture replaces the earlier Tiki Tar and Shell India Pvt Ltd, which was established in 2019.

The company will manufacture and market specialised bitumen products including polymer-modified bitumen (PMB), crumb-rubber modified bitumen (CRMB) and bitumen emulsions. Such products are used in road and runway construction for their durability, temperature stability and longer service life, BPCL said.

Located in Sandton, the new facility is aimed at strengthening the company’s technology innovation and delivery capabilities for enterprises across South Africa and the wider region, HCLTech said in a regulatory filing.

The newly established AI Centre of Excellence will allow clients to explore HCLTech’s full-stack AI portfolio, encompassing AI-led service transformation, industry-specific AI solutions, AI engineering, AI foundry, AI factory and advisory offerings.

The total debt includes sustainable debt of ₹1,245 crore and unsustainable debt of ₹2,491 crore, the company said in a statement.

Under the agreement, the sustainable portion will be repaid over four years, by September 2030, and NARCL will be allotted 20% of the company's equity on a fully diluted basis.

"The restructuring is expected to rationalise the company's liabilities through an overall debt reduction and to improve its net worth, placing the company on a stronger footing for the next phase of its growth," BGR Energy said.

PFC Consulting was the coordinator for the bidding process for the SPV, Satara Power Transmission, which was established for the development of 'Transmission System for Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4500 MW) - Part A', an exchange filing said.

According to the filing, PFC Consulting received a consideration of ₹19,01,24,505, as per the Share Purchase Agreement.

Tata Steel India deliveries for the quarter stood at 5.97 million tons. Deliveries were up 15% QoQ and 7% YoY, supported by enriched product mix and stable demand across market segments despite the seasonal rains. On a half-year basis, deliveries rose 8% YoY to 11.14 million tons.

The first undertaking, including the Mangaon seamless pipe facility and a 10-MW solar plant, had FY26 turnover of ₹793 crore, while the second, comprising the Narketpally facility, renewable energy assets and rig business, had turnover of ₹693 crore.

Under the scheme, shareholders will receive one share each of both resulting companies for every five Maharashtra Seamless shares held, with the resulting entities proposed to be listed on BSE and NSE, subject to approvals.

The company said the restructuring is aimed at creating focused businesses, improving operational efficiency and enabling better capital allocation.