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IT shares declined after advancing in the past trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 550.92 points or 0.75% to 73,175.43. The Nifty 50 index lost 211.45 points or 0.93% to 22,599.20.
The broader market underperformed the frontline indices. The Nifty MidCap 150 Index declined 1.05% and the Nifty SmallCap 250 Index fell 1.16%.
The market breadth was weak. On the BSE, 901 shares rose and 2,506 shares fell. A total of 104 shares were unchanged.
Brent crude for December 2026 settlement jumped $2.73 or 2.51% to $111.55 a barrel.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.33% to 16.20. The Nifty 27 October 2026 futures were trading at 22,645 at a premium of 45.8 points as compared with the spot at 22,599.20.
The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 1.71 crore contracts at the 23,000 strike price. A maximum put OI of 1.11 crore contracts was seen at the 22,000 strike price.
Buzzing Index:
The Nifty IT index declined 1.75% to 31,856.50. The index jumped 2.88% in the past trading session.
Mphasis (down 2.21%), Tech Mahindra (down 2.16%), Coforge (down 2.14%), HCL Technologies (down 1.79%), Tata Consultancy Services (down 1.74%) were the top losers. Among the other losers were Infosys (down 1.61%), Persistent Systems (down 1.28%) and Oracle Financial Services Software (down 0.89%) declined.
Stocks in spotlight:
Indian Hotels Company (IHCL) jumped 5.05% to Rs 790 after the company’s consolidated net profit jumped 22.66% to Rs 349.49 crore in Q2 FY27 compared with Rs 284.92 crore in Q2 FY26. Revenue from operations climbed 21.73% YoY to Rs 2,484.32 crore in the quarter ended 30th September 2026
Profit before tax (PBT) rose 20.33% YoY to Rs 544.75 crore in Q2 FY27.
EBITDA stood at Rs 788 crore, up 21% YoY. EBITDA margin declined to 30.7% during the quarter as against 30.8% in Q2 FY26.
The revenue drivers were rise of 25% in RevPAR from domestic same store hotels, 25% increase in management fee income led by new openings momentum, 25% revenue growth in Select Service Business and the contribution from our recent acquisitions of Brij and Atmantan.
Puneet Chhatwal, managing director & CEO, IHCL, said, “With 47 signings in the first half across the brandscape, IHCL today is a portfolio of 670 hotels and is set to achieve its guidance under Accelerate 2030 of a 700-hotel portfolio well ahead of time. Building on its first-half performance, IHCL is upgrading its consolidated revenue guidance from 12-14% to 15-17% growth for FY2027 led by 17-19% hotel segment revenue with seasonally strong quarters ahead, high demand from social and MICE events and our strong non-like-for-like growth.”
Ankur Dalwani, executive vice president and chief financial officer, IHCL said, “In Q2 FY2027, IHCL Standalone reported an operating Revenue of Rs 1,336 crore, 26% over the previous year, operating EBITDA of Rs 520 crore, up 40%, driving a strong operating EBITDA margin of 38.9%, an expansion of 400 basis points and a PAT of Rs 393 crore, an increase of 36%. The performance in the quarter in the standalone entity was bolstered by RevPAR growth of 28% in full-service same store hotels led by marquee events in the capital and contribution from renovated assets in key markets of Goa, Delhi, Bengaluru and Udaipur. Maintaining a strong balance sheet, IHCL Consolidated reported a gross cash of Rs 4,369 crore as on September 30th, 2026.”
Indian Hotels Company (IHCL), part of the Tata Group, operates a diversified portfolio of hospitality brands, including Taj, Claridges Collection, Brij, Atmantan, SeleQtions, Clarks, Gateway, Vivanta, Tree of Life and Ginger. The company has a portfolio of 670 hotels, including 280 properties in the pipeline, spread across four continents, 15 countries and more than 300 locations.
Indian Hotels Co (IHCL) continues its growth momentum with the signing of 47 hotels in the first half of FY2027 reaching a portfolio of 670 hotels with an industry leading pipeline of 280 hotels. In H1, the company also opened 20 hotels across its brandscape.
Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL said, “With a strong momentum of 47 signings and 20 openings in H1 FY2027, IHCL is on track to achieve its guidance under Accelerate 2030 of a 700-hotel portfolio ahead of time. Driven by a diversified strategy across brands, markets and contract types, this growth underscores IHCL's scalable and resilient hospitality ecosystem. With a portfolio mix of capital-light and capital-heavy assets, IHCL drives sustainable and profitable growth through the operating leverage of owned and leased hotels and a growing high-margin fee-based business.”
She added, “With ten hotel brands, reflective of India's heterogeneous landscape, IHCL's H1 signings are well represented across segments from 4 Taj hotels, a Brij and an Atmantan in luxury to driving scale in the mid-scale with 19 signings in Ginger and Tree of Life. Through our openings we increased our presence in key lodging markets of Mumbai, Gurugram, Goa and Hyderabad and forayed into emerging destinations of Kandla, Ayodhya, Tadoba, Kota, Bokaro and Jorhat in India. Enhancing our global presence, we extended the Taj footprint with the opening of hotels in Frankfurt and Kruger in South Africa, taking our operating hotels to 390.”
Indian Hotels Company (IHCL/ transferee company) approved the Scheme of Arrangement between Oriental Hotels (OHL/ transferor company'), the company and their respective shareholders, under the provisions of Sections 230 to 232 of the Companies Act, 2013 and other applicable regulatory requirements, for the amalgamation of OHL into and with the company.
The transferor company is an associate company of the transferee company. As on June 30, 2026, 37.05% of the equity share capital of the transferor company is held by the transferee company (both directly and indirectly through its subsidiaries).
The merger is subject to approval from the National Company Law Tribunal, shareholders and/or creditors of the companies, stock exchanges, Securities and Exchange Board of India and other relevant regulatory and statutory authorities. Completion is targeted for the second half of FY2028, with an appointed date of 1 April 2027.
Oriental Hotels is an associate company of IHCL and operates seven hotels with 825 rooms. Its portfolio includes Taj Coromandel in Chennai, Taj Fisherman’s Cove Resort & Spa in Chennai, Taj Malabar Resort & Spa in Cochin, Vivanta Coimbatore, Vivanta Mangalore, Gateway Madurai and Gateway Coonoor.
The companies said the merger is intended to simplify the group's holding structure, create operational and cost synergies, improve resource utilisation and provide Oriental Hotels' public shareholders with an opportunity to participate directly in IHCL's consolidated hospitality business.
IHCL is India’s largest hospitality company by market capitalisation, with a portfolio of 650 hotels, including 268 in the pipeline, across 4 continents, 15 countries and more than 300 locations. Its brands include Taj, Claridges Collection, Brij, Atmantan, SeleQtions, Gateway, Vivanta, Tree of Life and Ginger. Founded by Jamsetji Tata, IHCL opened its first hotel, The Taj Mahal Palace in Bombay, in 1903.
On a consolidated basis, Oriental Hotels' net profit declined 20.06% to Rs 5.30 crore while net sales rose 3.56% to Rs 111.48 crore in Q1 June 2026 over Q1 June 2025.
Revenue from operations rose 14.60% YoY to Rs 2,339.19 crore in Q1 FY27.
Profit before tax increased 21.31% to Rs 533.33 crore in Q1 FY27 from Rs 439.62 crore in the corresponding quarter last year.
EBITDA stood at Rs 753 crore in Q1 FY27, registering a growth of 18% compared with Rs 637 crore in Q1 FY26. EBITDA margin improved marginally to 31.1% in Q1 FY27 from 30.3% in Q1 FY26.
IHCL continued its strong expansion momentum in the first quarter of FY2027 by signing 20 new hotels, taking its total portfolio to 645 hotels, with an industry-leading pipeline of 263 hotels. Of these, 17 signings were under the Gateway, Ginger, and Tree of Life brands across new and emerging destinations such as Bharatpur, Trichy, Sindhudurg, Jawai, Wayanad, Mumbai, Goa, Agra, and Kolkata. During the quarter, Taj achieved the milestone of a 150-hotel portfolio with three new signings in Dharamshala, Barapani (Meghalaya), and Kusur Valley (Maharashtra). IHCL also opened 11 hotels, taking its operational portfolio to over 380 hotels, including Taj properties in Frankfurt and Greater Kruger, South Africa, as well as SeleQtions hotels in Ayodhya and Mumbai, among others.
Puneet Chhatwal, Managing Director & CEO, IHCL, said, “Q1 FY2027 marks the seventeenth consecutive best ever quarter with a Consolidated revenue of Rs 2,419 crores, a 15% growth over the previous year. For the quarter EBITDA stood at Rs 753 crores with EBITDA margin at 31.1%, an expansion of 80 basis points. This consistent performance is reflective of IHCL’s diversified brands and businesses offsetting the impact of macro headwinds.
The key revenue drivers were 14% RevPAR growth in domestic like for like hotels, 22% increase in revenue of Growth Businesses, 26% growth in management fee income and the strong performance of our recent acquisitions. IHCL clocked 20 signings taking the portfolio to 645 hotels with a pipeline of 263 and opened 11 hotels including a Taj in Frankfurt and Kruger National Park, South Africa. We migrated 15 hotels from the ANK Hotels and Pride Hospitality portfolio to IHCL’s brandscape and will continue this momentum in the coming quarters.”
He added, “Taj is once again India’s Strongest Brand across sectors on Brand Finance 'India 100 2026' report, marking the fifth consecutive year the brand has achieved this distinction. Driven by the strength of our diversified brandscape, performance of the new acquisitions, not like for like growth momentum and robust domestic demand across business and leisure segments, we maintain our guidance of double-digit revenue growth for the fiscal year.”
Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said, “In Q1 FY2027, IHCL Standalone reported a revenue of Rs 1,298 crores, driven by a RevPAR growth of 14%, clocking a strong EBITDA margin of 41.8%, an expansion of 380 basis points and a PAT of Rs 337 crores. A key facet of this performance is the contribution of the renovated assets in key markets of Goa, Delhi and Bengaluru.”
He added, “Maintaining a strong balance sheet, IHCL Consolidated reported a gross cash of INR 4,439 crores as on June 30th, 2026.”
Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service.
The counter declined 1.17% to Rs 724 on the BSE.