Indian Markets Edge Higher in Muhurat Trading; Multiple Companies Announce Developments

1 min read Updated on 23 Oct 2025, 06:15 AM

Reviewed by

Riya DeyScanX News Team

Overview

Indian stock markets started the new Samvat year on a positive note during Muhurat trading, closing marginally higher. Several companies made significant announcements: Jain Resource Recycling entered a joint venture for a recycling facility, UCO Bank plans to add 150 branches, Jindal Steel International gained access to Thyssenkrupp's steel business details, Tata Motors delivered over 1 lakh vehicles in 30 days, and Torrent Pharmaceuticals received CCI clearance for a stake acquisition in JB Chemicals. Other notable developments include Reliance Industries purchasing Middle Eastern crudes, Ola Electric cooperating with an ongoing investigation, and Dr Reddy's Laboratories receiving a 'Voluntary Action Indicated' classification from the US FDA. Several companies are set to announce quarterly results, including Hindustan Unilever and Colgate-Palmolive.

*this image is generated using AI for illustrative purposes only.

The Indian stock markets kicked off the new Samvat year with a positive note during Muhurat trading, although they surrendered most of their initial gains to close marginally higher. Several listed companies made headlines with various announcements and developments:

Corporate Developments

Company	Development
Jain Resource Recycling	Entered a joint venture with C&Y Group Investments to establish a recycling facility in Ahmedabad; also announced quarterly results
UCO Bank	Plans to add 150 branches by March, expanding its network to 3,472 branches
Jindal Steel International	Gained access to financial details of Thyssenkrupp's steel business following an indicative bid
Tata Motors	Delivered over 1 lakh passenger vehicles in 30 days from Navratri to Diwali, showing 33% growth
Reliance Industries	Purchased Middle Eastern crudes, including Iraq's Basrah Medium
Torrent Pharmaceuticals	Received CCI clearance for proposed acquisition of a stake in JB Chemicals in a Rs 19,500-crore deal
Ola Electric	Clarified that no chargesheet has been filed and stated it is cooperating with an ongoing investigation
Dr Reddy's Laboratories	Received a 'Voluntary Action Indicated' classification from the US FDA for its Andhra Pradesh manufacturing facility
Federal Bank	Clarified no board decision has been made regarding a preferential issue for a 9.99% stake
LTIMindtree	Announced Nachiket Deshpande's resignation as Whole-Time Director and President, effective October 31
Gulshan Polyols	Secured a Rs 1,185 crore order to supply ethanol to Oil Marketing Companies
Lloyds Metals and Energy	Approved allotment of 19.6 lakh shares at Rs 1,460.50 per share to Adler Industrial Services, raising Rs 286 crore
Manali Petrochemicals	Subsidiary AMCHEM sold its stake in Notedome Ltd
Expleo Solutions	Approved closure of its Coimbatore facility
Filatex India	Signed an MOU for textile recycling collaboration
Rubicon Research	Subsidiary entered an agreement to acquire preferred stock for up to $3 million

Upcoming Quarterly Results

Several companies are set to announce their quarterly results, including:

Hindustan Unilever (HUL)
Colgate-Palmolive
Laurus Labs
Vardhman Textiles

Other News

Police have launched an investigation into the reported suicide of an Ola Electric engineer who allegedly experienced workplace harassment.

The diverse range of corporate activities, from joint ventures and expansion plans to significant deliveries and acquisitions, reflects the dynamic nature of the Indian market. As companies continue to navigate challenges and opportunities, investors will be closely watching the upcoming quarterly results for insights into corporate performance and economic trends.

SBI's Capital Boost

State Bank of India, the country's largest lender, has successfully raised Rs 7,500.00 crore through the issuance of Basel III compliant Tier 2 bonds. This move is part of the bank's strategy to enhance its capital adequacy and support future growth.

Key details of the bond issuance:

Particulars	Details
Bond Type	Non-convertible, Taxable, Redeemable, Subordinated, Unsecured, Fully Paid-up Basel III compliant Tier 2 Bonds
Face Value	Rs 1.00 crore each
Total Issue Size	Rs 7,500.00 crore
Number of Bonds	7,500
Coupon Rate	6.93%
Allotment Date	October 20, 2025
Maturity Date	October 20, 2035 (with call option after 5 years and on each anniversary thereafter)
Interest Payment	Annually on October 20th

The bonds are set to be listed on both the BSE Limited and the National Stock Exchange of India Limited, enhancing their liquidity and tradability.

Banking Sector Updates

Punjab National Bank (PNB) is facing an estimated Rs 9,000.00 crore impact as it transitions to a Reserve Bank of India-mandated credit loss framework by 2031. This significant financial adjustment highlights the ongoing changes in the banking sector's regulatory landscape.

HDFC Bank has stated that it does not expect AI implementation to lead to layoffs among its 2.20 lakh employees, addressing concerns about the impact of technology on employment in the banking sector.

Corporate Partnerships and Expansions

ZEE Entertainment has partnered with Baseball United to broadcast 21 games of the Middle East and South Asia-focused baseball league in India, including matches featuring Mumbai Cobras.

Thyssenkrupp is in talks with Jindal Steel International regarding the Indian group's interest in its steel business, potentially signaling a major move in the steel industry.

Financial Performance

REC reported a 9.4% year-on-year rise in net profit to Rs 4,415.00 crore for the September quarter, showcasing strong performance in the financial services sector.

Industry Outlook

JSW Steel's CEO expects steel demand to increase in the second half due to lower interest rates and pent-up demand after extended monsoon rains.

Regulatory Action and Corporate Compliance

The National Securities Depository Limited (NSDL) has received advice from the Securities and Exchange Board of India (SEBI) regarding compliance issues. NSDL has been directed to adhere to non-monetary terms and remit Rs 15.60 crore within a 30-day timeframe.

Manufacturing and Industrial Updates

Unimech Aerospace has expanded its manufacturing capabilities by commissioning two new facilities in Bengaluru.

Glenmark is recalling 26,928 packs of oral contraceptive medication in the US due to manufacturing issues.

Capital Market Activities

Precision Wires has approved the allotment of 27.7 lakh shares at Rs 151.00 per share to the non-promoter group.
Saraswati Commercial has completed a payment of Rs 22.70 crore for convertible warrants, subsequently acquiring a stake in Precision Wires.

Real Estate Sector

Marathon Nextgen has entered into a joint venture with Adani Realty, launching a project with an estimated gross development value of Rs 3,400.00 crore.

Financial Services Sector Performance

CRISIL has reported positive traction in its buy-side solutions and data analytics segments.
Geojit Financial Services has released its quarterly results:
- Total income increased by 12.8% to Rs 173.00 crore
- Net profit declined by 19.2% to Rs 22.40 crore

Muhurat Trading Session Highlights

During the Muhurat trading session, several stocks emerged as standout performers:

DCB Bank gained over 7% following strong second-quarter earnings and a 20% rally in the previous two sessions.
Tata Investments, which recently completed a stock split, rose nearly 7%.
Vardhman Special Steels climbed almost 10%.
Blackbuck advanced more than 6%.

Over the past six months, these stocks have delivered significant returns:

Blackbuck leads with over 80% gains
Vardhman Special Steels gained nearly 50%
Tata Investments rose 35%
DCB Bank increased 20%

These diverse corporate updates reflect the dynamic nature of India's business landscape, with activities spanning across banking, manufacturing, real estate, and financial services sectors.