Nifty Above 22,500; IT Stocks Edge Lower

Asian stock market traded lower on Friday, following overnight losses on Wall Street, amid renewed concerns over artificial intelligence (AI) boom and elevated in crude oil prices.

Wall Street's benchmark indices ended Thursday, October 8, on a mixed note as investors assessed several developments, including rising bond yields, remarks by US President Donald Trump and higher crude oil prices.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At the time of writing, the BSE Sensex is trading 81 points lower, and NSE Nifty is trading 7 points higher.

Delhivery, IFCI and Prime Focus are the top gainers today.

Lenskart Solutions, Global Health and Aevenue Supermart on the other hand is among the top losers today.

The BSE 150 Midcap index is trading 0.6% higher and the BSE 250 SmallCap index is trading 1.1% higher.

Sectoral indices are trading mixed today with stocks in FMCG sector and telecommunication sector witnesses selling pressure. Meanwhile, stocks in auto sector and capital goods sector witnessed buying.

The rupee is trading at Rs 95.8 against the US dollar.

Avenue Supermart Q2 FY27 Results

Shares of Avenue Supermart, the operator of Dmart, came into focus after the company reported its Q2 FY27 results.

Consolidated net profit increased 8.5% YoY to Rs 7.43 bn from Rs 6.85 bn in the year-ago quarter. Total income rose nearly 18% YoY to Rs 196.58 bn from Rs 166.96 bn.

EBITDA grew 14.7% YoY to Rs 13.93 bn, compared with Rs 12.14 bn in the corresponding quarter last year. However, profitability margins contracted as expenses grew faster than revenue.

The EBITDA margin declined to 7.1% from 7.3%, while the PAT margin fell to 3.8% from 4.1%.

On a standalone basis, revenue increased 18.4% YoY to Rs 192.06 bn in Q2 FY27 from Rs 162.19 bn in the year-ago quarter.

EBITDA grew 14.1% YoY to Rs 14.03 bn from Rs 12.30 bn, while net profit rose 7.6% to Rs 8.04 bn from Rs 7.47 bn.

The standalone EBITDA margin narrowed to 7.3% from 7.6%, while the PAT margin declined to 4.2% from 4.6%.

Overall, DMart delivered strong double-digit revenue growth, but margin compression reflected cost pressures during the quarter.

KEC International Wins New Transmission Orders

KEC International, an RPG Group company, has secured new orders worth Rs 10.14 bn in its India Transmission and Distribution (T&D) business.

The orders include the company's first 765 kV transmission line project for power evacuation from a pumped storage plant (PSP) in Western India.

The company stated that the order was secured from an existing client and marks a milestone in its T&D business, strengthening its presence in renewable energy infrastructure. With these wins, KEC International's year-to-date order intake has exceeded Rs 96 bn.

Bajel Projects Wins Major Mumbai Substation Order

Bajel Projects Limited has secured a major EPC order for the supply and installation of 220 kV gas-insulated switchgear (GIS) substations at Salsette and Powai receiving stations in Mumbai.

The project comprises two packages: a 220 kV GIS substation at Salsette and a 220 kV outdoor GIS substation at Powai. The installations are expected to enhance capacity and improve the reliability of Mumbai's power transmission network.

GIS technology requires significantly less space than conventional air-insulated substations, making it suitable for densely populated urban centres such as Mumbai, where land availability is limited and electricity demand continues to grow.

According to the company, the order reflects its execution capabilities in high-voltage power infrastructure projects and will contribute to strengthening the city's grid reliability and resilience.