Q2 earnings season delivers mixed signals as Hindustan Zinc surges on record profits while Bajaj Finance and L&T Technology Services slip. Here are the key movers.

Hindustan Zinc

• Earnings: Q2FY27 net profit soared 142% YoY to ₹6,412 crore, beating estimates of ₹5,821 crore. Revenue hit a record ₹15,093 crore, up 77% YoY, with EBITDA margins expanding to 62%. Stock closed at ₹538.40 in the previous session, down 0.30%.
• Management: Shareholders approved Amarendu Prakash as CEO with 99.72% votes and Yogesh Attray as Independent Director with 98.72% support.
• Corporate Action: The company launched EcoZen, Asia’s first low-carbon zinc, and became the first Indian metals firm to join the ICMM.

L&T Technology Services

• Earnings: Net profit rose 66.8% YoY to ₹5,482 million in Q2FY27, but revenue growth of 12.1% YoY disappointed some analysts. An interim dividend of ₹20 per share was declared. Stock closed at ₹3,611.30 in the previous session, down 2.78%.
• Product Launch: Inaugurated an AI-Native EI Lab for Digital Manufacturing in Bengaluru, featuring NVIDIA-accelerated digital twins and agentic AI swarms.
• Guidance: The company highlighted its EIOne platform, integrating over 100 EI solutions into a single governed ecosystem.

Bajaj Finance

• Earnings: Consolidated net profit jumped 29% YoY to ₹6,367 crore, with AUM growing 26% to ₹584,624 crore. However, gross NPA rose sequentially to 1.33%. Stock closed at ₹957.35 in the previous session, down 2.52%.
• Management: Prashant Verma was re-appointed as Chief Information Security Officer for a three-year term effective February 1, 2027.
• Events: Analyst meetings scheduled in Mumbai on October 22-23 will focus on publicly available information only.

SML Mahindra

• Earnings: Q2FY27 net profit dropped 44% YoY to ₹11.70 crore, with EBITDA margins contracting to 4.22%. The board approved acquiring the Truck and Bus Division for ₹525 crore. Stock closed at ₹6,112.00 in the previous session, down 0.20%.
• Management: CFO Pushkar Parwardhan resigned effective October 19; Manaswini Goel is interim CFO until December 31, 2026.
• Regulatory: Updated its fair disclosure code to align with SEBI Insider Trading Regulations, designating a CIRO for UPSI oversight.

Sobha

• Earnings: Q2FY27 net profit fell 55% YoY to ₹330 million, missing estimates of ₹825 million. However, H1 FY27 real estate sales hit a record high of ₹58.62 billion. Stock closed at ₹1,176.00 in the previous session, down 1.04%.
• Margins: EBITDA margin expanded to 7.09% from 5.60% despite lower revenue recognition.

Mangalam Global Enterprise

• Fund raise: Scheduled a management committee meeting to consider issuing up to ₹150 crore in senior secured non-convertible debentures via private placement. Stock closed at ₹17.02 in the previous session, up 0.06%.
• Earnings: Q2FY27 net profit declined 47.75% YoY to ₹9.30 crore, though adjusted EBITDA surged 95.65% YoY to ₹22.50 crore.
• Retail Expansion: Opened a new NEAT EVERYDAY store in Ahmedabad, expanding its wellness and personal care retail network.

Bottom Line

Metals and financials show divergent trends: Hindustan Zinc’s margin expansion contrasts with Bajaj Finance’s sequential NPA rise. Tech services face valuation pressure despite profit growth, while realty players like Sobha see sales momentum offset by timing-related profit dips.