Tata Power Q2 PAT Rises 33%, Bajaj Finance Launches ₹11,700-Crore QIP, MSCI Rejig Adds Meesho, Adani Green, Coforge and LIC

No exchange filings were analysed by Orivam today, so this wrap draws entirely on broker notes published through the day, chiefly from Jainam Broking, Shriram Financial Services, Sharekhan and HDFC Securities.

Corporate earnings dominated the broker coverage. Jainam Broking's note says Tata Power's PAT grew 33% YoY to ₹1,652 crore on revenue up 26% to ₹19,886 crore for the September quarter. Mishra Dhatu Nigam's net profit more than doubled to ₹27.8 crore as revenue surged 41% to ₹295.9 crore, per the same desk. Garden Reach Shipbuilders & Engineers posted a 12% rise in net profit to ₹172 crore. On the other side of the ledger, Jainam's note reports Bajaj Hindusthan Sugar's consolidated net loss widened 15.23% to ₹121.28 crore as its sugar business stayed loss-making. Shriram Financial Services' report on GE Vernova T&D India cites a 52% YoY jump in Q2FY27 order intake to ₹24.4bn, 32% revenue growth and a 27.1% EBITDA margin, alongside a maintained BUY rating and ₹6,587 target. The same desk's note on APL Apollo Tubes says the company posted its strongest-ever quarter in Q2FY27 on record volumes, EBITDA and profit.

Corporate actions were also in focus. Jainam's note reports Fairfax Financial Holdings plans to exit its near-11% stake in IIFL Finance to help fund a 60% stake purchase in IDBI Bank. Bajaj Finance has launched a QIP to raise ₹11,700 crore at an indicative price of ₹1,025 per share, a 5% discount to its last close, per the same note. At Tata Investment Corporation, Noel Tata retired as chairman effective November 11, with Bahram Vakil appointed chairman from November 12, Jainam's note says. Cochin Shipyard was awarded a ₹498 crore Defence Ministry contract for the refit of INS Betwa. Separately, Jainam's note reports Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank are each working on share sales to reduce government ownership, though timelines remain unfinalised.

In index news, Jainam's note reports the latest MSCI Global Standard Index rejig added Meesho, Adani Green Energy, Coforge and LIC, while PI Industries was deleted. ITC reportedly hiked the price of its Gold Flake RSFT (69 mm) cigarette pack by ₹10 to ₹135, its first increase since February 2026, per media coverage cited by Jainam.

Globally, India IPO's report notes Nvidia lost around $430 billion in market value over two sessions amid scrutiny of its CEO's alleged links to a Chinese businesswoman and chip shipments to China, while Alphabet is seeking roughly $3 billion from its first bond sales in Hong Kong and Singapore. Vanguard Group raised about $4 billion in private debt for its Altruist acquisition, per the same source. Customs authorities reportedly detained bulk Scotch shipments imported by both Diageo and Pernod Ricard over a trade-pact duty dispute. Several brokerages, including Sharekhan and HDFC Securities, also issued technical and futures trading calls across stocks such as Tata Elxsi, IndusInd Bank, Jindal Steel, ITC, Max Healthcare, Oil India, Granules India, Lumax Auto Technologies, Gujarat Fluorochemicals, Dabur, Prestige Estates, Radico Khaitan, L&T Finance and Indegene.