Jio Platforms IPO Makes A World Record, Swiggy Sees Biggest Single-Day Fall & More
- PhonePe Invest
- 10 min read
- 23 Oct 2026
Nifty 50 and Sensex ended lower for the fourth day in a row. Broader markets saw a sharp sell-off, with the Midcap index sliding over 2%. Banking and metal stocks were reeling under pressure.
Key Indices
Broader Markets
NIFTY 100
NIFTY 200
NIFTY 500
INDIA VIXSectoral Indices
Top Gainers and Top Losers
*Prices shown may have delay up-to 15 minutes
Stock Action
INFYThe IT services major reported a 6% year-on-year (YoY) growth in its consolidated net profit at ₹7,823 crore in the second quarter of FY27. The same stood at ₹7,364 crore in the year-ago period. The company has trimmed its revenue growth guidance to 1-2% in constant currency for FY27 as against 1.5-3% given earlier. Its revenue from operations in the reporting period increased 11% YoY to ₹49,244 crore.
The company’s net profit saw a sharp jump of 12,817% to ₹517 crore in the september quarter, compared with ₹4 crore in the corresponding period a year ago. Revenue from operations surged 145% YoY to a record ₹2,529 crore from ₹1,034 crore, while EBITDA jumped sixfold to ₹846 crore from ₹141 crore in the corresponding quarter last year.
Swiggy’s shares plunged as widening Instamart losses overshadowed food delivery growth. Instamart’s adjusted EBITDA loss widened to ₹895 crore from ₹778 crore, while its contribution margin deteriorated to -1.4% despite 13.4% sequential growth in net order value.
JYOTISTRUCJyoti Structures has secured a ₹689.93 crore turnkey order from GETCO to design, supply, erect, and commission the 765 kV Pachchham–Saykha transmission line in Gujarat. The project is to be completed within 42 months, further strengthening the company’s expanding portfolio and operations in the region.
TMCVTata Motors reported a strong performance in the September quarter, with revenue rising 42% year on year to ₹23,930 crore and net profit turning around sharply to ₹2,138 crore. Total wholesales rose 42% year on year to 135,100 units in Q2 FY27, with domestic and export volumes increasing 30% and 177%, respectively. Volumes for the first half of FY27 grew 35%, supporting the company’s outlook for continued growth even as the pace is expected to moderate in the second half against a higher base.
ADANIPOWERAdani Power reported a net profit of ₹6,919 crore for the September quarter, more than doubling year-on-year, driven by a 44% increase in revenue to ₹19,438 crore. Consolidated power sales rose 11.5% to 26.4 billion units (BU) in the quarter from 23.7 BU a year earlier, supported by stronger electricity demand and higher selling rates.
Markets & Macro
- Jio Platforms becomes first IPO to have received over 1 crore applications, setting a global record for investor participation. Previously, Waaree Energies held the record with 97 lakh applications.
- Commerce Minister Piyush Goyal stated that aircraft and engine shortages from Airbus and Boeing are restricting airlines from launching new direct flights between Europe and India.
- India plans to attract FDI and global partnerships at Mining Expo Sydney 2026 to boost its critical minerals sector.
- The upcoming India-EU free trade agreement is projected to save EU exporters over €4 billion annually in customs duties. Aiming for early 2027 implementation, the deal seeks to deepen bilateral trade and investment ties between India and Germany.
- Draft GST return forms to be put up on ‘myGov.in’ portal on Nov 1 for public comments. A long-standing pain point for businesses could be in line for a fix, with the Centre looking to reduce discrepancies between GST returns. The proposed changes aim to make reporting more consistent, but businesses have until November 30 to weigh in.
- Japan’s core consumer inflation accelerated above the Bank of Japan’s 2% target in September, reinforcing expectations that the central bank could raise interest rates again in December as persistent food and service price increases keep pressure on households.
FII & DII Activity (₹ Cr)
| Date | FII (Net Value) | DII (Net Value) |
| 22 Oct 2026 | -3,458.70 | 2,891.32 |
| 21 Oct 2026 | 1,022.32 | 1,614.32 |
| 19 Oct 2026 | -1,148.64 | 3,201.19 |
| 16 Oct 2026 | 1,165.92 | -3,661.28 |
| 15 Oct 2026 | -5,285.37 | 3,319.39 |
| Month-to-Date | -48,895.33 | 52,983.64 |
Corporate Actions
Ex-Date and Record Date: 27 October 2026
| Company | Corporate Action |
| L&T Technology Services Ltd | Interim Dividend ₹20.00 |
Active & Upcoming IPOs
| Company | Date | Total Issue Size | Price Band | Minimum Investment |
| EAAA India Alternatives Ltd. | 26 to 28 Oct, 2026 | ₹1,200 Cr | ₹1585 to ₹1665 | ₹14,265 |
| BLS Polymers Ltd. | 27 Oct to 29 Oct, 2026 | ₹255 Cr | ₹142 to ₹150 | ₹14,200 |
| SFC Environmental Technologies Ltd. | 27 to 29 Oct, 2026. | ₹668 Cr | ₹313 to ₹330 | ₹14,085 |
| M.K.Sons Fine Jewels Ltd. | 28 to 30 Oct, 2026 | ₹275 Cr | ₹153 to ₹162 | ₹13,923 |
| Bombay Coated & Special Steels Ltd. | 29 Oct to 2 Nov, 2026 | ₹183 Cr | ₹78 to ₹82 | ₹14,196 |
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