Stock Market Today (10 October 2026): DMart Profit Rises 8.5%, Sarda Energy Wins Manganese Block, Avantel Gets L&T Order and TCS Faces AI Deflation Concerns

Indian stock markets remain focused on early corporate updates as companies report quarterly business performance, new orders and operational developments. DMart reported strong revenue and profit growth, Sarda Energy & Minerals emerged as the preferred bidder for a manganese ore block, Avantel secured a ₹12.1 crore order from L&T, while Signature Global reported a 9% decline in Q2 pre-sales. TCS also came under focus amid reports of reduced senior employee variable pay and increasing AI-led pricing pressure across IT deals.

Key Market Developments

DMart Reports Strong Quarterly Performance

Avenue Supermarts, which operates the DMart retail chain, reported a strong quarterly business update. Revenue stood at approximately ₹19,644 crore compared with ₹16,676 crore in the corresponding period, while consolidated net profit increased to about ₹743-744 crore from ₹685 crore a year earlier.

Profit growth of roughly 8.5% highlights continued resilience in the company's retail business. Investors will focus on sales growth, store expansion, operating margins and like-for-like performance as the company moves through the festive and consumption season.

Sarda Energy Wins Manganese Ore Block in Andhra Pradesh

Sarda Energy & Minerals emerged as the preferred bidder for a manganese ore block in Andhra Pradesh. The block is reported to have reserves of approximately 0.70 million tonnes.

The development strengthens the company's mineral-resource portfolio and could provide additional long-term raw-material visibility. The next focus areas for investors will be the formal award process, development timelines and the economics of the mining operation.

Avantel Bags ₹12.1 Crore L&T Order

Avantel secured a contract valued at approximately ₹12.1 crore from Larsen & Toubro. The order adds to the company's order book and provides additional revenue visibility for its business.

Investors will watch execution progress and whether additional orders from defence, communications and infrastructure customers help sustain the company's order momentum.

Signature Global Q2 Pre-Sales Decline 9%

Signature Global reported Q2FY27 pre-sales of approximately ₹1,830 crore, representing a decline of around 9% from the comparable period. The company sold 454 housing units during the quarter, up 101% sequentially.

Despite the decline in overall pre-sales, average sales realization increased to approximately ₹17,122 per square foot. Collections also improved sharply, rising 51% quarter on quarter to ₹1,010 crore.

The combination of lower pre-sales and stronger collections and realizations presents a mixed operating picture. Investors will be watching booking momentum, project launches, cash flows and execution in the coming quarters.

TCS Faces AI-Driven Pricing Pressure

Tata Consultancy Services came under focus following reports that AI-led productivity and pricing pressure is increasingly affecting IT deals. Reports indicated that AI-related deflation is now influencing a significant portion of IT contracts, raising questions around traditional billing models and revenue growth.

The company also reportedly withheld or reduced variable pay for certain senior staff. The developments come as global IT services companies continue adapting their workforce structures and pricing models to the rapid adoption of generative AI.

For investors, the key factors remain deal growth, client spending, pricing pressure, employee utilisation, margins and the pace at which AI-driven productivity translates into sustainable revenue growth.

Market Outlook

The latest corporate updates present a mixed picture across sectors. DMart's strong revenue and profit performance points to continued consumer demand, while Sarda Energy's manganese block win and Avantel's L&T order provide positive order and resource-development triggers.

Signature Global requires closer monitoring because lower pre-sales are being offset by stronger collections, higher realizations and a sharp increase in quarterly unit sales. Meanwhile, TCS remains an important IT-sector indicator as investors assess whether AI will create incremental demand or intensify pricing and workforce pressures.

Stocks to Watch

DMart (Avenue Supermarts), Sarda Energy & Minerals, Avantel, Signature Global and TCS are among the stocks likely to remain in focus following the latest quarterly and corporate updates.