Stocks to Watch Today Oct 29: Jio Rally Faces Test as Suzlon, Asian Paints Report

Can Suzlon’s bullish brokerage ratings survive its earnings announcement, and will Asian Paints deliver profit growth despite rising input costs? Jio Platforms enters its second trading session after a 26.8% gain over its IPO price, while Bandhan Bank has reported a 456% jump in quarterly profit. Asian Paints, Suzlon Energy, IndiGo, Trent and Coal India are among the companies scheduled to announce Q2 FY27 results on Thursday, October 29.

The opportunity comes with an expectation gap: some companies have strong analyst support, but the market will judge actual results against forecasts already reflected in share prices. Elevated crude oil prices and uncertainty over the US interest-rate outlook add another layer of risk.

Market Snapshot: GIFT Nifty Signals Caution, Not a Clear Breakout

Pre-market snapshot | October 29, 2026 | 8:08 AM IST

Track Live: NIFTY 50, SENSEX, GIFT NIFTY

The GIFT Nifty reading indicated a muted start rather than a decisive bullish signal. Wednesday’s weakness followed selling in heavyweight stocks, while higher oil prices raised concerns about inflation, the rupee and future borrowing costs.

The Federal Reserve held rates steady on October 28, but said inflation remained elevated. Foreign portfolio investors bought approximately ₹872 crore of Indian shares on Wednesday, their second consecutive session of buying; however, Reuters reported that they had sold $3.74 billion worth of shares during October.

The market question: Can company-specific earnings and listing momentum attract fresh buying while oil prices and global financial conditions remain potential headwinds?

Q2 Earnings Report: Six Numbers That Explain the Market’s Focus

Several companies have already reported September-quarter results. Their performances provide useful context for Thursday’s announcements.

Sources: Bandhan Bank investor relations, TVS Motor’s official results release, Financial Express and Reuters.

The important distinction is that profit growth, revenue growth and operating performance do not always move together. TVS Motor reported growth across sales, earnings and margins, while PNB Housing Finance’s record disbursements produced a smaller increase in profit. That makes the quality and sustainability of earnings central to Thursday’s market reaction.

1. Jio Platforms: Can the First-Day Rally Survive Profit-Taking?

Jio Platforms has already delivered one of the week’s biggest market events. Shares were listed at ₹1,358 on October 28 against an IPO price of ₹1,119 and closed at ₹1,419. The closing price was approximately 26.8% above the issue price. The ₹30,213-crore IPO attracted an overall subscription of 22.19 times.

Thursday brings a different test: whether buyers continue to support the stock after its sharp debut or early investors book profits.

Jio’s telecom business, digital services and longer-term technology ambitions will shape its valuation beyond the initial listing. However, investors buying after a large first-day advance need to consider how much future growth the market has already priced in.

Watch today: The stock’s ability to sustain its listing gains and whether trading reflects continued demand or post-listing profit-taking.

2. Suzlon Energy: Nine Buy Ratings Meet a High-Stakes Earnings Test

Suzlon Energy is one of the most important earnings previews of the day. A Business Today report citing Bloomberg data said nine of the ten brokerages it tracked rated the stock a Buy, while Nuvama Institutional Equities had a Hold rating.

These are analyst opinions, not guarantees of returns. A positive rating profile can attract attention, but the earnings announcement will determine whether operating performance supports expectations.

What analysts expect

These are forecast ranges, not reported results. Business Today’s earnings preview attributes the estimates to brokerage research, including expectations of higher deliveries and an improvement in margins from some analysts.

The difference in profit forecasts is worth noting. JM Financial expected net profit of approximately ₹578 crore, while Anand Rathi estimated about ₹463 crore and expected a year-on-year decline. Differences in delivery estimates, margins and tax assumptions help explain why a single consensus figure would be misleading.

Watch today: Revenue, deliveries, EBITDA margin, profit after tax and management’s execution guidance. With analyst sentiment broadly positive, even a decent result could disappoint if it falls short of expectations.

3. Asian Paints: The Profit Forecast Is Positive; the Margin Outlook Is Less Comfortable

Asian Paints faces a test of whether price increases and volume growth can outweigh higher raw-material costs.

A 22 October Informist survey of 16 brokerages projected consolidated revenue of ₹9,715 crore and net profit of ₹1,127 crore for Q2 FY27. The expected profit increase was more than 13% year-on-year.

Analysts anticipated domestic decorative-paints volume growth of approximately 5%–6%. However, EBITDA margins were forecast in a range of 15.9%–17.3%, below the year-ago margin of 17.7%, reflecting crude-linked raw-material inflation and the consumption of higher-cost inventory.

This creates a meaningful expectation gap: revenue and profit may rise year-on-year even as operating margins remain under pressure. Price hikes can support realisations, but their effect on volumes and demand needs to be monitored.

Watch today: Actual profit against the ₹1,127-crore estimate, the reported EBITDA margin, domestic decorative-paints volumes and management’s commentary on raw-material costs.

4. IndiGo: Two Brokerages, Two Very Different Profit Outcomes

InterGlobe Aviation, the parent of IndiGo, presents one of the clearest examples of uncertainty in the Q2 earnings outlook.

According to a Mint preview carried by TradingView, Elara Securities expected revenue of ₹24,191 crore and a net profit of ₹580 crore. Nuvama Institutional Equities forecast revenue of ₹23,010 crore but a net loss of ₹2,490 crore.

These are separate brokerage estimates, not a consensus forecast. The divergence reflects different assumptions around costs and foreign-exchange movements.

IndiGo reported a consolidated loss of ₹238 crore in Q1 FY27 despite revenue growth. Aviation turbine fuel prices in Delhi rose from around ₹110 a litre in July to ₹137 on October 1, while fuel expenses accounted for a major portion of airline operating costs. The company introduced fuel surcharges from October 6, but higher ticket prices may not fully offset the rise in costs.

Watch today: Whether fares and surcharges protect margins, how fuel and currency pressures affect the quarter, and where actual profit lands relative to the sharply divergent estimates.

5. Trent: Revenue Growth Has Set Up the Next Earnings Test

Trent is scheduled to report its September-quarter results on October 29. The company’s October 5 business update reported standalone revenue of ₹5,788 crore, up approximately 23% year-on-year.

That growth establishes a strong starting point, but investors will want to know whether it is translating into operating profit. Trent’s store expansion, sales productivity across Westside and Zudio, and the balance between volume growth and discounting will influence the earnings quality.

Festive demand may help sales, but competition, operating costs and the contribution from new stores can complicate margin performance.

Watch today: Revenue and profit growth, margins, like-for-like sales trends and any commentary on festive demand and store productivity.

6. Coal India: Stronger Sales Could Still Come With Lower Adjusted Profit

Coal India’s quarterly results are also due on October 29, with production, offtake and realisations expected to shape the market reaction.

A Motilal Oswal preview reported by Mint expected net sales to rise approximately 19.2% year-on-year, while adjusted profit after tax could decline 31.6%. The brokerage maintained a Buy rating.

The outlook highlights the importance of separating revenue growth from earnings performance. Seasonal production weakness during the monsoon quarter, post-monsoon offtake and e-auction realisations could influence the result.

Watch today: Production, dispatches, adjusted profit and any interim-dividend announcement. Coal India’s result could be positive on sales yet disappointing on profitability if cost or realisation trends fail to support earnings.

The Broader Earnings Picture: Bandhan, TVS, Vedanta and PNB Housing

Among the companies that have already reported results, four stories deserve continued attention.

Bandhan Bank recorded profit of ₹622 crore compared with ₹112 crore a year ago, while net interest income grew 14% to ₹2,960 crore. The profit increase is striking, but asset quality, credit costs and recoveries will determine how durable the improvement proves to be.

TVS Motor reported record quarterly revenue of ₹17,103 crore, up 44%, and net profit of ₹1,377 crore, up 52%. EBITDA margin improved to 13% from 12.7%, giving the company a stronger combination of growth and margin performance.

Vedanta reported consolidated net profit of ₹6,202 crore, up approximately 78% year-on-year, while Vedanta Aluminium Metal’s profit more than doubled. Investors will need to assess the sustainability of realisations, operating costs and cash generation rather than assuming that commodity-linked earnings growth will continue at the same pace.

PNB Housing Finance reported net profit growth of 6% to ₹617 crore and record retail disbursements of ₹9,250 crore, up 54%. Its next test is whether lending expansion translates into stronger earnings without weakening credit quality.

Another Date for the Calendar: Reliance Industries on October 30

Reliance Industries is scheduled to consider its Q2 and first-half FY27 results on Friday, October 30, according to the company’s official notices.

The announcement makes Reliance the next major earnings event after Thursday’s results. Investors should wait for the reported numbers and management commentary rather than assume the outcome in advance.

Bottom Line: The Surprise Matters More Than the Headline

Jio Platforms’ second trading session, Suzlon’s heavily Buy-rated analyst outlook, Asian Paints’ margin challenge and IndiGo’s widely divergent profit estimates provide the strongest storylines for Thursday.

Bandhan Bank’s profit recovery and TVS Motor’s record quarter show why investors are watching reported earnings closely. Yet the broader market remains exposed to elevated crude prices, global interest-rate uncertainty and foreign-investor flows.

The key names to track are Jio Platforms, Suzlon Energy, Asian Paints, IndiGo, Trent, Coal India and Bandhan Bank. The decisive factor will not be whether a company reports growth, but whether that growth meets expectations and appears sustainable.

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Disclaimer: This article is for informational and educational purposes only and is not investment advice. Brokerage ratings, forecasts and target prices are opinions that may change and may not predict returns. Verify current company disclosures and market data before making investment decisions. Consult a SEBI-registered investment adviser for advice suited to your financial circumstances.