Big Bank Profits and Tech Triumphs Ignite Investor Excitement on October 20

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Monday’s market focus centers on robust Q2 earnings from HDFC Bank, ICICI Bank, RIL, and Dixon, alongside key corporate developments from LTTS, RVNL, and IIB. GIFT Nifty signals a positive start, driven by upbeat global cues and Diwali optimism, setting the tone for continued buying interest across sectors.

Indian markets kicked off the week on a confident note amid a flurry of earnings reports and strategic corporate updates from market heavyweights. GIFT Nifty futures surged nearly 225 points to around 25,980, reflecting optimism ahead of the Diwali trading week bolstered by positive global markets and stable China monetary policy.

The spotlight is on key names such as HDFC Bank, ICICI Bank, Reliance Industries (RIL), Dixon Technologies, L&T Technology Services (LTTS), Rail Vikas Nigam Limited (RVNL), and Indian Investment Bank (IIB), all drawing investor attention for their recent performances and news flow.

HDFC Bank reported a handsome 10.8% year-on-year increase in standalone profit to ₹18,641 crore, underpinned by steady loan growth and improving asset quality, with gross NPA declining to 1.24%. ICICI Bank posted a 5.2% rise in Q2 profit to ₹12,359 crore, driven by a 7.4% rise in net interest income and lower provisions.

Reliance Industries delivered a strong quarter with consolidated profits up 14.3% to ₹22,092 crore, supported by a 9.9% revenue increase and margin expansion, while subsidiary Jio Platforms also reported double-digit profit and revenue growth. Dixon Technologies impressed with a robust 71.9% profit surge to ₹670 crore on healthy revenue gains.

L&T Technology Services recorded a 2.8% profit increase alongside a 15.8% revenue jump and announced an interim dividend, making it appealing for income-focused investors. Railway infrastructure player RVNL remains on watch following government approvals and order inflows, while Indian Investment Bank stays in focus for corporate lending trends.

Important Points:

GIFT Nifty futures up ~225 points at 25,980, signaling a positive market open.

HDFC Bank posts 10.8% YoY profit growth with improving asset quality metrics.

ICICI Bank reports 5.2% profit rise, led by better NII and provision management.

RIL’s consolidated profit up 14.3%, supported by revenue and margin expansion.

Dixon Technologies profits surge 71.9% on strong segment growth.

LTTS announces 15.8% revenue growth with interim dividend declared.

RVNL and IIB monitored closely amid government orders and sector trends.

Global markets positive, driven by steady China LPR and regional indices gains.

Diwali festive mood adds seasonal buoyancy to domestic equity market sentiment.

Sources: Business Standard, Moneycontrol, News18, Economic Times, NDTV Profit.