GIFT Nifty down 91 points; BEL, M&M Finance, GMDC, Indian Hotels, Fusion CX among top stocks in focus

Corporate actions today: Shares of Angel One and Tips Music shall trade ex-dividend today, while shares JSW Dulux shall trade ex-split shall trade ex-split today. Shares of VRL Logistics shall trade ex-date for buyback.

Fusion CX: The customer experience player shall begin its stock market journey on Thursday, October 22 after the company raised a total of Rs 702 crore from its IPO, which open for subscription at October 14-16. The issue was overall subscribed 4.45 times, fetching more than 2.63 lakh applications.

Bharat Electronics: The state-run defence player has secured additional orders worth Rs 1,011 crore since October 13. The major orders include improved low-level light-weight radar, communication equipment, sonar, jammers, upgrades, spares and services.

Mahindra & Mahindra Financial Services: The NBFC reported a 55 per cent YoY jump in the net profit at Rs 882 crore, while disbursements increased 22 per cent YoY to Rs 16,499 crore in the September 2026 quarter. Its AUM was up 15 per cent YoY to Rs 1.56 lakh crore and asset quality also improved.

Gujarat Mineral Development Corporation: The state-run metal and mining player presented a dividend of Rs 223.55 crore to the Gujarat Government. The dividend of Rs 9.50 per equity share was recommended by the board of directors on May 14 and approved by shareholders on September 30.

Indian Hotels Company: The Tata Group company reported a 19 per cent YoY jump in the net profit at Rs 379.85 crore, while revenue rose 22 per cent YoY to Rs 2,484.32 crore for the quarter ended on September 30, 2026. The company clocked an EBITDA of Rs 788 crore, while margins came in at 30.7 per cent for the quarter.

Zydus Lifesciences: The pharma player's affiliate Zylidac Bio, a biologics contract development and manufacturing organisation (CDMO), and biotechnology company Prolific Machines have announced a partnership to scale Prolific's platform from early-stage development through good manufacturing practice production.

KEI Industries: The wire & cables player reported a 29 per cent YoY jump in the net profit at Rs 262.45 crore, while revenue increased 38.5 per cent YoY to Rs 3,776.42 crore for the July-September 2026 period. EBITDA was up 29 per cent YoY to Rs 311.63 crore, while margins narrowed to 10.62 per cent for the quarter.

NHPC: The state-run utilities player announced the commercial operation date (CoD) of Unit 5 (250 MW) of the 2,000 MW Subansiri Lower Hydroelectric Project, comprising eight units of 250 MW each, in Assam and Arunachal Pradesh.

Persistent Systems: The IT company opened its qualified institutions placement (QIP) issue on October 21, with the floor price set at Rs 5,761 per share.

PC Jewellers: The debt-free jewellery maker reported a 58 per cent YoY jump in the net profit at Rs 330.66 crore, while revenue rose 28 per cent YoY to Rs 1,054.47 crore for the second quarter of FY27. EBITDA was up 74.4 per cent YoY to Rs 310.45 crore, while margins improved to 29.4 per cent for the reported quarter.

Tata Communications: The National Court of Spain has ruled in favour of the company's subsidiary, Tata Communications (Spain) SL (TC Spain), and annulled the resolution passed by the Central Economic-Administrative Tribunal. The ruling also overturns the value-added tax demand of €15.51 million and the corresponding penalty of €18.10 million imposed by the Spanish Tax Agency.

SEAMEC: The offshore oilfield maker has entered into a contract with HAL Offshore for the charter hire of its vessel SEAMEC ANANT to undertake inspection, maintenance and repair jobs for ONGC. The charter hire period is nearly 1,225 days, subject to HAL's charter hire agreement with ONGC. The total contract value for the period is around $55 million.