1. Indian Oil Corporation (IOC):

The stock of this oil marketing company rose over 10% in the past week. It announced its Q2FY26 results on October 27, reporting a net profit of Rs 7,817.6 crore, a sharp turnaround from the Rs 169.6 crore loss recorded in the same quarter last year. This impressive swing was driven by better refinery margins, inventory gains, and company-wide cost-cutting.

The company’s Q2 net profit surpassed Trendlyne’s Forecaster estimate by 43.9% on the back of strong gross refining margins, of $10.7 per barrel in the quarter. Its stock appears in a screener of companies which have consistently generated high returns over the past five years.

Addressing the company's oil sourcing, IOC Chairman A S Sahney confirmed that while the share of Russian crude fell to around 18-19% in the quarter from 22% in the last quarter, the company continues to buy it in full compliance with all sanctions. He delivered some good news on the domestic front, noting that the losses on selling LPG cylinders are expected to fall to just Rs 25 per cylinder in the next quarter, down from Rs 100 in the quarter just ended.

The company’s future growth appears to be on schedule. Management noted that major expansion projects at its Panipat, Gujarat, and Barauni refineries are all on track to be commissioned by mid-2027. So far this fiscal year, the company has done capex of Rs 15,900 crore on these and other projects, and is on pace to meet its full-year investment target of Rs 33,500 crore.

Reflecting this positive momentum, brokerage firm Emkay has maintained its ‘Buy’ rating on the stock and raised its target price to Rs 190. The firm is optimistic about the economic environment supporting IOC's profits, but it also cautions that any wild swings in crude oil prices, currency, or government policy could pose future risks.

2. Varun Beverages (VBL): 

This beverage bottler & distributor’s stock jumped 9.1% on October 29 after it posted strong Q3CY25 results. Net profit surged 19.6% YoY to Rs 741.2 crore, beating Forecaster estimates by 14.6%, thanks to lower inventory and finance costs.

Revenue climbed 4.8% YoY to Rs 5,195.8 crore, driven by growth in the carbonated soft drinks (CSD), non-carbonated beverages (NCB) and water segments. Strong international sales offset a weaker performance in India, where prolonged rainfall dampened demand. The company's net realisation per case dipped marginally to Rs 179, as lower-margin water products made up a larger share of international sales.

Varun Beverages plans to expand into the alcoholic beverages business to capture the rising demand for ready-to-drink (RTD) products. The company signed an agreement with Carlsberg Breweries to package and market its beers in Southern Africa.

The recent stock jump follows a challenging year in which the share fell 22.4%, hit by a slow winter season and unseasonal rains. A high PE ratio of 72.9 in January, compared to the industry average of 32.7, also raised valuation concerns among investors.

Looking ahead, Chairman Ravi Jaipuria expects a rebound in the domestic market, noting, "We expect double-digit revenue growth in India if the weather remains favourable. While the extended monsoon impacted consumption, we remain confident in the long-term potential. Our ongoing investments position us well to capture demand recovery in the upcoming season.”

Following the results, Yes Securities maintained its ‘Buy’ rating, raising its target price to Rs 625 per share, a 33.1% upside. The brokerage points to capacity additions, distribution expansion, and new international opportunities as key drivers for long-term growth, forecasting revenue and net profit to grow at 12.9% and 19.1% annually over FY25-27.

3. Newgen Software Technologies:

This IT solutions company rose 8.5% over the past week after reporting its Q2FY26 results. Net profit grew 27% YoY, beating Forecaster estimates by 39%. The growth was driven by ramp-up in project execution and higher share of revenue from international markets. Revenue rose 11% YoY, led by a 22% increase in the US and Asia Pacific regions.

Newgen’s subscription revenue grew 20%, highlighting a steady shift towards recurring income. About 60% of total revenue now comes from subscriptions and support. Banking and financial services remained the largest segment, contributing 68% to revenue, followed by insurance, healthcare, and government clients.

Analysts believe that the company's move toward recurring revenue model is improving earnings stability. Growth in software-as-a-service (SaaS) and subscriptions has helped offset weaker traditional license sales, which account for 18% of revenue and have slowed due to delays in large deal closures across India and EMEA (Europe, Middle East, and Africa). Newgen added 15 clients in Q2, mainly in the US, Europe/UK, and Singapore.

EBITDA margin rose 250 bps to 25.5% during Q2, supported by higher revenue from high-margin SaaS and mature markets, along with AI-driven productivity efforts. Co-founder and Director TS Varadarajan said, “We are leveraging AI to enhance service delivery and productivity, targeting 20–30% efficiency gains over the next year once we deploy all the tools.” He added that their AI-driven automation and document processing are seeing rising adoption, especially among government and enterprise clients.

ICICI Direct has a ‘Buy’ rating on Newgen with a target price of Rs 1,180. The brokerage said wage hikes in Q3FY26 may slightly impact margins, but higher SaaS contribution, and efficiency gains from automation and AI should support profitability. It projects Newgen’s revenue and net profit to grow at a CAGR of 15% and 26% over FY26–27.

4. Navin Fluorine International:

This commodity chemicals company surged to a new all-time high of Rs 5,839 on October 31 following its Q2 results. The company’s net profit jumped 1.5X YoY to Rs 148.4 crore, helped by lower employee costs. 

Revenue increased 46% to Rs 758 crore due to strong performance across all its business segments. The company beat Trendlyne’s Forecaster estimates for revenue by 6.7%, and for profit by 42.3%. The management raised its FY26 margin guidance to 28-30%, up from an earlier guidance of 25%.

Navin Fluorine announced a Rs 236.5 crore capex plan to add 15,000 MTPA (million tonnes per annum) of new production capacity at its Surat facility, specifically for R32 refrigerant gas. This expansion is designed to meet the rising demand from the refrigeration and air conditioning sector, both at home and abroad. 

The company projects a "better second half" driven by its new production facilities coming online and faster completion of large orders, particularly in its high-profit contract manufacturing business. Commenting on this, CFO Anish Ganatra said, “We expect the business to accelerate its growth and are targeting this division to achieve annual sales of $100 million by FY27, driven by delivering on major long-term contracts."

Following the company’s results, UBS maintained its ‘Buy’ rating with a higher target price of Rs 5,900. The brokerage sees strong medium-term growth potential in its agrochemicals, contract manufacturing, and newer refrigerant products.

5. Shree Cements:

This cement manufacturer jumped 2.2% on October 29 following strong Q2FY26 results. Net profit skyrocketed, tripling YoY to Rs 308.5 crore, while revenue climbed 17.4% to Rs 4,761.1 crore, fueled by a jump in premium product sales from 15% to 21% of its mix. The company aims to maintain its premium product share at 20-21% by prioritising higher-margin products rather than pursuing large-volume growth.

During the quarter, cement sales volume jumped 6.8% YoY to 8.1 million tonnes, decisively beating the industry’s 3-5% growth. However, sequential volumes dipped as heavy monsoons in North India stalled construction activity.

The company's UAE business posted strong results, driven by robust local demand and higher prices. To capitalise on this momentum, the company is expanding its capacity with a new 3 million tonnes per annum (MTPA) grinding unit and a 0.5 MTPA kiln upgrade. The AED 110 million (~Rs 260 crore) investment will be funded entirely from cash on hand.

Looking ahead, Shree Cements is targeting a major capacity expansion, boosting production from ~62.8 MTPA to over 80 MTPA by FY28-29. This growth will be fueled by an annual capex of Rs 3,000 crore. MD Neeraj Akhoury confirmed the progress, saying, “The work on the integrated project at Kodla, Karnataka, of 3 million tonnes is in the final stage of completion and expected to be commissioned in Q3FY26.”

While competitors chase market share, Shree Cement says it is focused on profit over sheer sales volume. This means smart pricing and brand strength rather than just selling more bags. The approach is paying off so far: the company closed its price gap with top rivals to just Rs 15–20 per bag. It also sold more of its premium products and raised overall prices by 9% during the quarter. Akhoury confirmed that this focus on value is the company's plan for the future.

Following the results, ICICI Direct issued a 'Buy' rating, anticipating accelerating volume growth in H2FY26. The brokerage forecasts CAGR for FY26-28: 11% in revenue, 19% in EBITDA, and 34% in net profit. Profitability will be fueled by a trifecta of factors: higher premium sales, greater use of green power, and lower logistics and fuel costs. 

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations.