October 05, 2026

TOP NEWS

HDFC Bank: Gross advances were Rs 32,195 bn, up 16.3% YoY and about 5.2% QoQ (advances under management +15.3% YoY). Deposits were Rs 33,275 bn, up 18.8% YoY and about 4.9% QoQ. CASA grew only 10.8% against time deposits at 22.8%. The deposit growth is boosted by the FCNR(B) swap.

 

Shyam Metalics & Energy: The company signed a non-binding MoU with the Government of Maharashtra for a 9 MTPA greenfield integrated steel complex. The project is expected to create around 30,000 jobs, including 10,000 direct and 20,000 indirect roles. The move ​is part of the company's expansion beyond its eastern ‌India stronghold, where it has also announced investments ​in ‌states such as Odisha, West Bengal and ‌Jharkhand.

 

SOBHA – Q2FY27: SOBHA reported record H1 sales of Rs. 5,862 crore, up 47.2% YoY, with sales area rising 32.4% to 3.76 mn sq. ft. Q2 sales grew 16% YoY to Rs. 2,206 crore. Bangalore contributed 57.7% of H1 sales, followed by NCR at 33.7%. The company launched 7.91 mn sq. ft. across 5 projects in H1, with a sales potential of ~Rs. 11,200 crore.

 

DLF – The Aureva: DLF has achieved a complete sell-out of The Aureva in Gurugram, generating sales of ~Rs. 1,985 crore. The luxury retirement project is spread across 4.17 acres, comprising 172 residences with over 7.5 lakh sq. ft. of saleable area, indicating strong demand for premium retirement housing.

 

Ujjivan Small Finance Bank: Gross advances were Rs 45,699, up 32.1% YoY and 6.5% QoQ. Deposits were Rs 50,649, up 29.2% YoY and 5.2% QoQ.

 

INVESTMNET CALL

Auto Sales September 2026 - Volumes across our coverage universe grew by 13.8% y-o-y and 14% m-o-m to 26.9lakh units in September 2026, led by strong growth in 2-wheelers, CV and PVs as all major OEMs begin increasing inventories at dealer level for the upcoming festive season which is spread across October and November. Tractor segment was a drag on the overall volumes as tractor makers ended a long growth streak with volumes dropping an average 15% y-o-y on back of a weak monsoon across India, which also indicates rural demand could weaken in coming months. 2-wheelers continue to post strong momentum on back of a strong domestic demand except Bajaj Auto which had new launches and product refreshes which slowed down overall domestic numbers for the company. CV players reported healthy volume growth based on construction and infrastructure activity in the M&HCV segment while LCV benefited from the e-commerce and consumption led activities across the country. PVs after a brief period of anxious volumes showed a dramatic turnaround buoyed by the domestic demand and EV push along with stocking up for the festive season.

Our View: September 2026 dispatches are a prelude to exponential demand we are set to witness in the coming quarter. All segments baring tractors continues to move directionally well signalling another strong y-o-y performance for the Automotive sector. But we remain cautious of the rural demand which could be impacted due to the below normal monsoon caused by El-Nino.

 

Company

Sep-26

Sep-25

YoY (%)

Aug-26

MoM (%)

Ashok Leyland

24,049

18,813

27.8

21,038

14.3

Bajaj Auto

5,38,443

5,10,504

5.5

5,35,764

0.5

Eicher RE

1,33,958

1,24,328

7.7

1,26,479

5.9

Eicher VECV

11,396

7,619

49.6

8,434

35.1

Escorts

15,214

18,267

-16.7

10,072

51.1

Hero Motocorp

7,66,348

6,87,220

11.5

5,68,398

34.8

M&M Auto

1,16,662

1,01,252

15.2

1,10,143

5.9

M&M Tractor

52,100

66,111

-21.2

29,507

76.6

Maruti Suzuki

2,36,012

1,89,665

24.4

2,19,220

7.7

Tata Motors CV

51,062

35,862

42.4

44,411

15.0

Tata Motors PV

70,210

60,907

15.3

67,753

3.6

TVS Motors

6,72,790

5,41,064

24.3

6,16,540

9.1

 

 

OTHER NEWS

Aurobindo Pharma Limited: he company has secured final approval from the US Food & Drug Administration (USFDA) to manufacture and market its generic Perampanel Tablets. The approval covers six dosage strengths—2 mg, 4 mg, 6 mg, 8 mg, 10 mg, and 12 mg—which have been established as bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fycompa Tablets, held by Catalyst Pharmaceuticals, Inc. The product will be manufactured at Unit-IV of APL Healthcare, a wholly-owned subsidiary of the company and will be launched in Q3FY27. The approved product has an estimated market size of US$ 67 million for the twelve months ending August 2026, according to IQVIA MAT. Aurobindo Pharma now has a total of 599 ANDA approvals (574 final approvals and 25 tentative approvals) from USFDA.

 

Avenue Supermarts : Company Update – Q2FY27: Standalone revenue from operations stood at Rs. 19,206 crore in Q2FY27, up 18.4% YoY from Rs. 16,219 crore. The company had 518 stores as of September 30, 2026, including one temporarily closed for reconstruction.

 

Yes Bank: Loans were Rs 3,09,675, up 23.8% YoY and 8.6% QoQ. Deposits were Rs 3,54,084, up 19.5% YoY and 12.3% QoQ. Normalised for FCNR(B)/FCTL, advances are +17.7% YoY and +3.3% QoQ, and deposits +13.2% YoY and +6.5% QoQ.

Bank of Baroda: Gross advances were Rs 15,12,435, up 18.3% YoY and 6.7% QoQ. Deposits were Rs 17,51,262, up 16.7% YoY and 7.2% QoQ.

Punjab National Bank: Gross advances were Rs 13,42,693, up 14.8% YoY and 5.5% QoQ. Deposits were Rs 17,77,097, up 9.9% YoY and 3.0% QoQ.

Bank of India: Gross advances were Rs 8,54,045, up 20.4% YoY and 7.1% QoQ. Deposits were Rs 10,37,618, up 21.6% YoY and 8.3% QoQ.

Canara Bank: Gross advances were Rs 13,73,733, up 19.3% YoY and 6.2% QoQ. Deposits were Rs 16,97,195, up 13.1% YoY and 5.3% QoQ.

Union Bank of India: Gross advances were Rs 11,55,930, up 18.5% YoY and 5.4% QoQ. Deposits were Rs 13,19,457, up 6.9% YoY and 2.8% QoQ.

J&K Bank: Gross advances were Rs 1,33,551, up 23.7% YoY and 2.3% QoQ. Deposits were Rs 1,76,796, up 16.3% YoY and 1.9% QoQ.

South Indian Bank: Gross advances were Rs 1,09,519, up 18.7% YoY and 4.9% QoQ. Deposits were Rs 1,37,258, up 18.7% YoY and 9.1% QoQ.

Karur Vysya Bank: Gross advances were Rs 1,11,587, up 20.3% YoY and 6.6% QoQ. Deposits were Rs 1,28,123, up 16.0% YoY and 4.5% QoQ.

Karnataka Bank: Gross advances were Rs 92,015, up 24.9% YoY and 6.2% QoQ. Deposits were Rs 1,15,138, up 12.0% YoY and 4.3% QoQ.

Tamilnad Mercantile Bank: Gross advances were Rs 60,715, up 29.4% YoY and 5.9% QoQ. Deposits were Rs 69,546, up 25.5% YoY and 8.0% QoQ.

CSB Bank: Gross advances were Rs 42,373, up 22.1% YoY and 3.7% QoQ. Deposits were Rs 46,889, up 18.3% YoY and 3.2% QoQ.

AU Small Finance Bank: Gross advances were Rs 1,50,290, up 27.9% YoY and 7.0% QoQ. Deposits were Rs 1,70,460, up 28.6% YoY and 8.1% QoQ.

Equitas Small Finance Bank: Gross advances were Rs 50,694, up 29.6% YoY and 6.4% QoQ. Deposits were Rs 52,483, up 19.0% YoY and 7.2% QoQ.

ESAF Small Finance Bank: Gross advances were Rs 23,931, up 25.1% YoY and 3.1% QoQ. Deposits were Rs 28,466, up 24.3% YoY and 5.7% QoQ.

Capital Small Finance Bank: Gross advances were Rs 9,755, up 23.4% YoY and 7.5% QoQ. Deposits were Rs 10,831, up 16.2% YoY and 2.2% QoQ.

Bajaj Finance: AUM was Rs 5,84,750, up 26.5% YoY and 6.9% QoQ. Deposits were Rs 69,750, flat at 0.0% YoY and up 1.8% QoQ.

MOIL: The company reported September production of 1.81 lakh MT, up 19.1% YoY from 1.52 lakh MT, while sales increased 15.5% YoY to 1.64 lakh MT from 1.42 lakh MT

Infosys and Wipro: Accenture reported better-than-expected Q4FY26 results with 7% y-o-y CC revenue growth, US$22.2bn of bookings, and FY27 revenue growth guidance of 3-6% CC. Management highlighted broad-based demand strength, record 141 deals above US$100mn, improving AI adoption, and continued enterprise reinvention spending. This should be a positive read-through for Infosys ADR and Wipro ADR, as it signals stable demand, healthy deal activity, and easing concerns around AI-led demand disruption across the global IT services sector