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Shares of Indian Oil Corporation Ltd. opened higher but soon erased early gains and were trading with losses on Tuesday, October 28, after the state-run refiner reported its September quarter earnings.

Indian Oil’s revenue came in at ₹1.79 lakh crore, slightly above Street estimates of ₹1.77 lakh crore, while net profit stood at ₹7,610 crore, beating the forecast of ₹6,353 crore.

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Bata On CNBC-TV18:

Passed On The Entire Benefit Of Lower GST

80% Of The Portfolio Will Have Lower Prices Due To GST 2.0

Q2 Saw An Impact Due To GST Transition

Store Refresh, New Categories & GST Benefits Should Structurally Grow Biz For Co

Saw Positive Uptick In  Performance Post September 22

Margin Should Bounce Back, Premium Pdts At 30% Of Total Sales

Premium Segment As % Of Sales  Should Be About 40% In 2-3 Years

eComm Sales Contribution Is In Low Double-digits, Profit Accretive For Co

eComm Should Be More Than  20% Of Sales In Next 2-3 Years

JK Tyre On CNBC-TV18:

Margin Has Seen An Expansion Due  To Favourable RM Cost Trend

Expect Demand To Remain Steady  Because Of Recent GST Rate Cut

Margin Should Sustain  Around Current Levels

Domestic Business Has Seen Double-digit Growth

All The Segments, Truck Radial, Passenger & Farm Have Seen Good Growth

Current Growth Range  Should Sustain Even In Q3

CV Seeing Mid Single-digit Growth,  PV High-single Digit

Tractor Segment Is Seeing High Single-digit To Low Double-digit Growth

Replacement Forms 60% &  OEM 40% Of Total Revenue

GST Cut Has Given Boost To All The Segments In Auto Sector

Boost To Entry-level From GST  Cut Will Play Out In Coming Qtrs

Underlying Demand In Auto Healthy, Rural Remains On Firm Ground

Shares of Canara Robeco Asset Management Company Ltd. fell as much as 11% on Tuesday, October 28, in response to its quarterly results, that were reported after market hours on Monday.

Revenue for the quarter declined by 11% on a sequential basis to ₹107.7 crore, while its Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) fell by 17% from June to ₹17%.

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The footwear company’s Q2 FY26 profit slumped 73% YoY to ₹13.9 crore as revenue fell 4% to ₹801 crore, hit by GST 2.0 transition, warehouse disruption, and higher expenses, including a ₹8.3 crore VRS cost.

The stock is currently down 5.3%.

Indus Towers shares gain over 3% post earnings.

The company reported a 17.3% YoY drop in Q2 net profit to ₹1,839 crore, even as revenue rose 9.7% to ₹8,188 crore. EBITDA slipped 6% to ₹4,613 crore with margins narrowing to 56.3%, though returns on equity and capital employed showed year-on-year improvement.

Here’s how Sai Silks, Canara Robeco AMC, Bata India and Kaynes Tech are reacting to their earnings

The company reported a 64% YoY rise in Q2 profit to ₹221 crore, with revenue up 10.8% to ₹4,011 crore and EBITDA margin improving to 13% on higher volumes and lower input costs.

The stock is currently up 4.7%.

The company posted a 4.5% YoY rise in Q2 net profit to ₹93 crore, with revenue increasing 10.3% to ₹309.2 crore. EBITDA grew 7.3% to ₹135.7 crore, while margins eased slightly to 43.9%.

The stock is currently up 3.3%.

The company reported a 28.1% YoY rise in Q2 net profit to ₹749 crore, driven by higher margins and operational efficiency. Revenue grew 6.3% to ₹2,929 crore, while EBITDA surged 36% to ₹695 crore, with margins improving to 23.7% from 18.5% last year. The company also announced an interim dividend of ₹6 per share.

MS On SRF

Underweight Call, Target Rs 2,175/sh

Co’s Core PAT Of Missed Est, By 10%

Chemicals EBIT Came Below Est As Strength In Ref Gases Offset Specialty Chem Weakness

Packaging Missed Owing To Reduced Market Volumes

Buy Call, Target Price At Rs 160/Sh

Q2 Beats Estimates On Strong Refining GRM

Reported Refining Margin Of $10.7/bbl, Led By An Inventory Gain Of $1.7/bbl

Crude Throughput Dropped 6% QoQ To 17.6 mt

Adjusted Net Income At `76 Bn Was Up 34% QoQ

Petchem Segment Posted EBIT Profit Of `1.7 Bn Vs Loss Of `10 m In Q1FY26

High Conviction Outperform Rating, Target Rs 520/sh

Core Revenue Up 11% YoY/3% QoQ, Ahead Of Est

Reported EBITDA Was Down 6% YoY/up 5% QoQ

Reported EBITDA Adj For Collections Of Past Overdue Was Up 15% YoY/3% QoQ, Ahead Of Est

Indus Tenancy Additions Were 4,505, Below Est, Yet Base Is Up 10% YoY/1% QoQ

Board’s Dividend Reinstatement Is Also Awaited

B/S Has Net Cash Of `2,960 cr, With Lease Liabilities At 118% Of Debt

Stock At 5.5x 27 EV/EBITDA

Overweight Call, target price at Rs 168/sh

Co Beat Both Consensus & Est Core PAT At `9,700 Cr , Adj For Est Inventory Gain Of `6.7 Bn, FX losses of `14 Bn

Integrated Margin Of US$12.6/bbl (including US$1.5/bbl Of LPG Loss), Was Above Est

Mid-cycle: Best In Two Years, Despite Lower Russian Crude

Marketing Vol Grew 5% YoY In F2Q26, Above Ind Growth Of 2%

Higher Fuel Refinery Margin Helped Co Take Share From Peers Which Are Less Integrated

Russian Crude Intake At 19% (Vs 24% QoQ), Co Remains Flexible To US/Other Sourced Crudes

Awaits Clarity On Future Russian Oil Imports

The company reported a 64% YoY rise in Q2 profit to ₹221 crore, with revenue up 10.8% to ₹4,011 crore and EBITDA margin improving to 13% on higher volumes and lower input costs.

The footwear company’s Q2 FY26 profit slumped 73% YoY to ₹13.9 crore as revenue fell 4% to ₹801 crore, hit by GST 2.0 transition, warehouse disruption, and higher expenses, including a ₹8.3 crore VRS cost.

The company reported a 28.1% YoY rise in Q2 net profit to ₹749 crore, driven by higher margins and operational efficiency. Revenue grew 6.3% to ₹2,929 crore, while EBITDA surged 36% to ₹695 crore, with margins improving to 23.7% from 18.5% last year. The company also announced an interim dividend of ₹6 per share.

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