Daily Filing Digest — Thursday, 8 Oct 2026

TCS opened the Q2 results season: revenue up 11.2% to ₹73,188 crore, net profit up about 7.6%, and an operating margin of 24.0%, down from about 25.2% a year ago. It also agreed to buy MHP, Porsche's IT consulting arm. Cochin Shipyard asked shareholders to move its Kochi ship-repair yard into a 50:50 joint venture with Drydocks World at a ₹1,800 crore valuation. Evonile Pharma, the former Novartis India, plans a rights issue of up to ₹900 crore. And another 2.1% of Ajanta Pharma's shares were pledged as security for ₹3,873 crore of debentures issued by two other companies.

The ones to read first

• TCS reported Q2 FY27:

• In constant currency, growth was 2.8% year on year and 0.5% quarter on quarter; deals signed (TCV) were US$9.6 billion.
• It says annualised AI revenue is US$3.1 billion, over 10% of revenue. Headcount: 598,056.
• It agreed a five-year partnership with Porsche and will buy 100% of MHP, Porsche's German management and IT consulting subsidiary, subject to regulatory approvals. No price was disclosed.
• Second interim dividend: ₹12 a share.

Full read: TCS Q2: 11% Growth in Rupees, 2.8% in Constant Currency. Where the Margin Went.

• Cochin Shipyard asked shareholders to approve moving its International Ship Repair Facility at Willingdon Island, Kochi, into a 50:50 joint venture with Drydocks World (Dubai).
  • The yard goes in at a fair value of ₹1,800 crore: ₹900 crore in cash and ₹900 crore in JV shares.
  • The facility repairs commercial and naval vessels under 130 metres. E-voting runs from 9 October to 7 November.
• Evonile Pharma (formerly Novartis India) approved a rights issue of partly paid shares for up to ₹9,000 million (₹900 crore). The price, ratio and record date are still to be set.
• Ajanta Pharma: CTL Trusteeship disclosed a further 2.10% of Ajanta's shares pledged with it as security for debentures of up to ₹3,373 crore issued by Lenexis Foodworks and up to ₹500 crore by Inspira Realty 2.
  • Pledged shares rose to 7.41% of Ajanta's capital; all encumbrances, pledges included, are 13.53%.
  • The disclosure is dated 30 September.
• Dr. Reddy's received a Form 483 with two observations after a USFDA pre-approval inspection of its FTO-11 plant at Pydibhimavaram, Andhra Pradesh (5–7 October).
• Polycab India has appealed to the NCLAT against the 7 October insolvency admission over a disputed ₹2.79 crore. The hearing is listed for 9 October.

Rates: the repo hike, day two

• UCO Bank raised its repo-linked lending rate to 8.30% from 8.05%, effective 8 October; its MCLR and base rate are unchanged. Its benchmark for the 10-year government bond yield rose to 7.32% from 7.09%.

Q2 updates

• JSW Steel: consolidated crude steel output 7.27 million tonnes, +5% year on year; Indian plants ran at 88% of capacity as Vijayanagar's BF3 ramps up after an upgrade.
• Info Edge: standalone billings +12.8% to ₹822.3 crore; 99acres +21.2%, Shiksha −27.2%.
• Embassy Developments: pre-sales of ~₹3,225 crore, up from ~₹868 crore in Q1; H1 is ~51% of its ₹8,000 crore FY27 guidance.
• Keystone Realtors: pre-sales of ₹14.23 billion, +84%; collections fell 19% to ₹5.41 billion.
• P N Gadgil Jewellers: revenue +22.4%; retail +31.1% with same-store growth of 25.5%, even with Navratri shifting into Q3. For context: India's jewellers against the gold price.
• Muthoot Microfin: AUM +22% to ₹15,323 crore.
• Aye Finance: AUM +26% to ₹7,604 crore; gross NPA improved 19 bps in the quarter to 4.30%.
• IRB Infrastructure: September toll revenue ₹773 crore, ~+24%.
• Tata Power: its solar plant at Tirunelveli made 1 GW of modules and 0.9 GW of cells in the quarter.
• Steel Exchange India: revenue of ~₹340 crore, ~+45%, on record rebar output.

Deals and capital

• Vedanta declared a ₹5 interim dividend, about ₹1,955 crore in all.
• VRL Logistics' shareholders approved a buyback of 87.5 lakh shares (5% of its equity), up to ₹280 crore, by tender offer.
• Shivam Autotech fixed a rights issue of up to ₹120 crore: 19 shares for every 25 held, record date 15 October.
• Krsnaa Diagnostics received exchange approval to issue 16.21 lakh warrants to its promoters.
• GOCL Corporation: the NCLT ordered shareholder and creditor meetings on merging Hinduja National Power into GOCL.
• ONGC and MRPL formed ONGC Petrochemicals Marketing with OPaL (50:25:25).
• TVS Srichakra received ₹34.44 crore as its entire 7.58% stake in TASL Automobile was cancelled under an NCLT-sanctioned capital reduction.
• Jubilant Pharmova: its radiopharma arm will invest CAD 94.5 million to double RUBY-FILL capacity in Québec, with CAD 23.8 million of Canadian government support.
• Fredun Pharmaceuticals bought 26% of Goodman Vetcare, a Mumbai pet-pharmacy chain, at a ₹300 crore valuation, and the Furlicks pet-wellness brand from USV.
• Jaykay Enterprises will lend up to ₹100 crore to its subsidiary JK Defence & Aerospace.

Big holders

• Clean Max Enviro: Augment India I Holdings sold 7.25% on the market on 28 September, leaving 2.25%.
• Electrosteel Castings: Belgrave Investment Fund sold 4.68%, leaving 0.79%.
• Swiggy: SBI Mutual Fund crossed 5%, to 5.13%.
• Baba Arts: the promoter sold 62.29% off-market to Skybridge Interactive under a February share purchase agreement, a change of control.
• Rolex Rings: ICICI Prudential Mutual Fund sold 10 lakh shares, cutting its stake to 5.23%.
• Chalet Hotels and Shoppers Stop: the exchanges did not allow four Raheja entities to move from promoter group to public, because their majority owner, Mindspace REIT, is controlled by the same promoters (Shoppers Stop's filing).

Orders

• NCC won a ₹1,286 crore road contract (excluding GST) from Hyderabad Growth Corridor.
• KEC International won ₹1,030 crore of orders; year-to-date intake is over ₹8,600 crore.
• Pace Digitek won a battery-storage project from BSES Rajdhani: 57.5 MW / 115 MWh, about ₹179.4 crore of capital, ₹27.1 crore a year of contracted capacity revenue for 12 years.

Courts, tax and incidents

• IIFL Capital: BSE levied a ₹51.26 lakh penalty over client trades it construed as "Abnormal / Non- genuine reversal trades"; the company says it will be recovered from those clients.
• Pitti Engineering: Maharashtra GST officials began an inspection or search at its plant on 8 October.
• OCCL: India's trade regulator opened a countervailing-duty investigation into insoluble sulphur imports from China, on its application.
• BGR Energy: the NCLAT let its board raise capital under a restructuring agreement signed on 5 October with its main financial creditor.
• Dr Lal PathLabs: the tax department appealed to the ITAT against relief on ₹32.66 crore of ESOP-expense disallowances.
• Tata Consumer Products won an ITAT ruling on tax depreciation on intangibles.
• KEI Industries: a GST appeal cut a demand to ₹2.23 crore plus an equal penalty.
• Duroply Industries: the Calcutta High Court set aside a ₹58.28 crore income-tax assessment for AY 2018-19 and sent it back to the assessing officer.
• Wisec Global told BSE it cannot file some quarterly compliances on time because of a dispute with its share registrar, which has not supplied the data.
• A-One Steels had a fire at a ferro-alloy furnace in Ballari; it says the damage is insured.

Ratings

• MTNL: Brickwork upgraded its ₹6,500 crore guaranteed bonds to AAA (CE)/Stable.
• Gujarat Ambuja Exports: CARE revised the outlook on its AA- rating to Positive.
• Krishana Phoschem and Madhya Bharat Agro: Crisil took both off watch and reaffirmed A+/Stable (Madhya Bharat).

People

• GMR Airports: Groupe ADP, its co-promoter, withdrew Alexis Riols's nomination as Deputy CEO and executive director; he stays a non-executive director. ADP has named a replacement.
• Cummins India appointed Adegbile Adedapo Adewunmi managing director from 1 November, for three years.
• Travel Food Services: whole-time director and CFO Vikas Kapoor resigned.
• Tilaknagar Industries: CFO Rajesh Choudhary resigned with immediate effect; the deputy CFO oversees finance meanwhile.
• Rentomojo proposed Price Waterhouse as statutory auditor for five years.

Educational research, not investment advice. Every item above is drawn from the company's own filing on NSE or BSE, read from the primary document; derived figures are our arithmetic and are labelled. No buy/sell recommendations, no price targets, no share prices. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.