HCL Technologies rose after posting a 21.2% profit jump and announcing an AI partnership, while Goodluck India and Vikran Engineering gained on new business wins. Polycab India shares fell following an NSE announcement regarding its removal from the derivatives segment.
HCL Technologies led market momentum on October 13, 2026, after reporting a robust performance for the second quarter. The company posted a 21.2% year-on-year rise in consolidated net profit, reaching ₹5,132 crore, alongside a revenue increase of 11.5% to ₹35,620 crore. EBIT margins also showed improvement, expanding 131 basis points quarter-on-quarter to 18.2%. Beyond the financial figures, the management announced a global premier partnership with Anthropic, aimed at scaling agentic AI for enterprise clients. The board has also declared a second interim dividend of ₹12 per share, with the record date set for October 16, 2026. While the results were positive, investors may note that the company has maintained a cautious outlook for FY27, projecting revenue growth in the range of 2.5% to 4% due to the volatile global business environment.
Mid-Caps Secure Key Milestones
Goodluck India and Vikran Engineering also drew investor attention through business expansions. Goodluck India hit a 52-week high after its board approved the merger of its defense and green energy subsidiaries into the parent entity, a move aimed at streamlining operations. Additionally, the company's defense subsidiary reached a technical milestone by qualifying as a supplier for 155 mm artillery shells for Munitions India. Investors should monitor how the corporate restructuring impacts the parent balance sheet, especially given the company's past shifts in promoter holding patterns.
Vikran Engineering saw positive stock movement after its subsidiary, NOPL Solar Projects, signed a ₹2,941.19 crore loan agreement with the Indian Renewable Energy Development Agency. This financing is vital as it completes the funding structure for a ₹3,517.98 crore EPC contract for a 969 MW solar project in Maharashtra. While the funding secures the project's financial closure, the primary monitorable for shareholders remains the timely execution of such large-scale infrastructure projects, which are often subject to operational and regulatory timelines.
Polycab India Faces Regulatory Shift
Shares of Polycab India declined following an announcement by the National Stock Exchange (NSE) regarding the company's exclusion from the equity derivatives segment. This decision aligns with the regulatory framework under the Insolvency and Bankruptcy Code. According to the exchange, no new F&O contracts will be introduced for the company, and existing contracts will be phased out, with trading set to conclude entirely by December 30, 2026. This administrative change creates a period of transition for traders who have active positions in the company's futures and options instruments, and the market will likely track how this affects the stock's liquidity and trading volumes in the coming weeks.