Stocks to Watch Today: Tech Mahindra, Wipro, IIFL Finance and Others (October 16, 2026)

Indian markets will track a fresh batch of quarterly earnings, corporate acquisitions, strategic investments and new project contracts on October 16, 2026. Developments at major IT companies, financial services firms, pharmaceutical businesses and renewable energy players are expected to influence stock-specific activity. 

Tech Mahindra Ltd 

Tech Mahindra reported a 32.7% year-on-year increase in consolidated net profit to ₹1,585.6 crore for the September quarter, compared with ₹1,194.5 crore in the corresponding period last year.  

Revenue rose 15.6% to ₹16,180.2 crore from ₹13,994.9 crore. Dollar revenue increased 6.7% to $1,693 million. The board declared an interim dividend of ₹15 per share and approved a bonus issue in the ratio of 1:1. The company's quarterly performance, dividend and proposed bonus shares are likely to remain in focus. 

Wipro Ltd 

Wipro reported a 1.4% year-on-year decline in consolidated net profit to ₹3,200.6 crore for the September quarter, while revenue increased 9.06% to ₹24,752.7 crore. IT services revenue grew 8.95% to ₹24,667 crore, while the segment's operating margin declined by 20 basis points to 16.5%.  

For the December quarter, the company expects IT services revenue to range between $2,571 million and $2,625 million, indicating sequential growth of -1.5% to 0.5%. 

IIFL Finance Ltd 

IIFL Finance reported a 103.7% year-on-year jump in consolidated net profit to ₹766.4 crore for the September quarter, compared with ₹376.3 crore a year earlier. Net interest income increased 50.2% to ₹2,160.7 crore from ₹1,439 crore.  

The sharp improvement in profitability and growth in net interest income will be key points of interest for investors assessing the company's quarterly performance. 

Persistent Systems Ltd 

Persistent Systems reported a 25.4% year-on-year decline in consolidated net profit to ₹351.5 crore for the September quarter, against ₹471.5 crore in the corresponding period last year.  

Revenue grew 30.3% to ₹4,663.9 crore from ₹3,580.7 crore. Earnings before interest and tax (EBIT) rose 19.5% to ₹697.7 crore, although the EBIT margin contracted to 15% from 16.3%. Investors will assess the contrast between strong revenue growth and lower profitability. 

Angel One Ltd 

Angel One reported a 58.2% year-on-year increase in consolidated net profit to ₹335 crore for the September quarter, compared with ₹211.7 crore a year earlier. Revenue rose 18.7% to ₹1,427 crore from ₹1,201.8 crore. T 

he improvement in earnings and revenue will keep the stock on investors' radar as they evaluate the company's financial performance. 

Jio Financial Services Ltd 

Jio Financial Services reported consolidated profit of ₹340.44 crore for the September quarter. Total income, excluding dividend income, increased 132% to ₹1,699 crore, while pre-provisioning operating profit rose 85% to ₹574 crore.  

The company's non-banking financial company (NBFC) business recorded a 154% increase in assets under management (AUM) to ₹37,320 crore. The growth in its lending business and operating performance will be closely watched. 

Sri Lotus Developers and Realty Ltd 

Sri Lotus Developers and Realty reported a 77.9% year-on-year increase in consolidated net profit to ₹82.1 crore for the September quarter, compared with ₹46.2 crore in the previous year.  

Revenue rose 52.5% to ₹268.6 crore from ₹176.1 crore. The company's quarterly results will remain in focus as investors assess growth in its real estate business. 

Read More: Reliance Power Share Price in Focus After ED Seizes Assets Worth ₹2,033 Crore! 

Solar Industries India Ltd 

Solar Industries India's subsidiary, Solar Explochem, has entered into a share purchase agreement with Sivasakthi Industrial Explosives for the proposed acquisition of a 100% stake in the company for ₹115.02 crore.  

The transaction is expected to expand the group's business presence and will be monitored for updates on the acquisition process. 

Mankind Pharma Ltd 

Mankind Pharma plans to acquire a majority stake in Belgium-incorporated biotechnology company Armed Cell Therapeutics B.V. for €48 million. The company is developing next-generation chimeric antigen receptor T-cell (CAR-T) therapies for cancer.  

Its pipeline includes programmes targeting non-Hodgkin lymphoma and small-cell lung cancer. The proposed investment marks a move into advanced cell therapy and could broaden Mankind Pharma's presence in the biotechnology and cancer treatment segments. 

Agastya Energy and Infrastructure Ltd 

Agastya Energy and Infrastructure has received an engineering, procurement and construction (EPC) and operations and maintenance (O&M) contract worth ₹106.04 crore from its subsidiary, IMC Solar BDN LLP.  

The contract relates to a solar power plant project. The development adds to the company's project pipeline and brings its renewable energy operations into focus. 

Premier Energies Ltd 

Premier Energies' subsidiary, Premier Battery Technologies, has signed a share allotment-cum-shareholders' agreement with RCT Energy India, part of Germany's RCT Group, to establish Premier Energies Storage Solutions as a strategic joint venture. 

The venture plans to set up a battery energy storage system (BESS) manufacturing facility with a total capacity of 12 GWh. The first phase, with a capacity of 6 GWh, is expected to be established in FY 2027–28 at Seetharampur, Telangana. The proposed facility highlights the company's expansion into battery storage manufacturing alongside its existing solar energy business. 

Conclusion 

Quarterly earnings from IT companies and financial services firms, the proposed acquisitions by Solar Industries and Mankind Pharma, and Premier Energies' battery storage joint venture are among the key developments to watch on October 16, 2026. Bulk and block deals, dividend-related corporate actions and F&O restrictions may also contribute to stock-specific movements during the session. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.    

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