Indian stock markets are watching several key companies on January 13, including IT giants Tata Consultancy Services (TCS) and HCLTech, which recently announced their third-quarter results. Biotechnology firm Biocon launched a significant fundraising effort, while NLC India moved forward with plans to list its renewable energy arm. Adani Energy Solutions, however, faced continued stock declines. ### Major IT Companies Report Q3 Earnings Tata Consultancy Services, India's largest IT services company, reported its financial results for the quarter ending December 31, 2025, on January 12. The company announced a 14% year-on-year drop in consolidated net profit, which stood at ₹10,657 crore. Thi^[1][2][3][4]s profit figure missed analyst expectations. TC^[2]S's revenue from operations for the quarter reached ₹67,087 crore, showing a 5% increase compared to the same period last year. The r^[1][3][4]evenue growth, however, surpassed market estimates. The c^[2]ompany's profit was affected by several factors. These included restructuring expenses, one-time charges related to new labor codes, and a provision of ₹1,010 crore for a legal claim. The IT^[2][4] giant also declared an interim dividend of ₹11 per share and a special dividend of ₹46 per share. This brings^[1][3][4] the total dividend payout to ₹57 per equity share for the financial year 2025-26. The record da^[1][4]te for this dividend is January 17, 2026, with payments scheduled for February 3, 2026. TCS highligh^[4]ted its progress in artificial intelligence (AI) services. Its annualized AI services revenue hit $1.8 billion, marking a 17.3% rise quarter-on-quarter in constant currency. The company's^[3][4][5] operating margin remained stable at 25.2%. Total contrac^[2][3][5]t value (TCV) for the third quarter stood strong at $9.3 billion. Despite these^[3][5] gains, TCS's headcount saw a reduction of 11,151 employees, bringing the total to 582,163. Analysts gene^[2]rally maintain a bullish outlook on TCS, with some setting a high price target of ₹4,810. HCLTech, anoth^[6]er major Indian IT services provider, also released its Q3 FY26 results on January 12. The company rep^[7][8][9]orted an 11% year-on-year decline in consolidated net profit, reaching ₹4,076 crore. This drop was par^{[7][8][9][10][11][12]}tly due to a one-time impact from new labor codes and restructuring costs. Despite the prof^[9][10][12]it dip, HCLTech's revenue from operations grew by 13% year-on-year, totaling ₹33,872 crore. The company announc^{[7][8][9][12]}ed an interim dividend of ₹12 per equity share for the financial year 2025-26. Shareholders eligible^[7][9][12] for this dividend have a record date of January 16, 2026, with payment on January 27, 2026. HCLTech showed stron^[7][9]g performance in new business, securing $3.006 billion in new deal wins, a 43.5% increase year-on-year. The company's advance^{[7][8][9][10]}d AI services revenue saw a 19.9% quarter-on-quarter growth. Looking ahead, HCLTec^[7]h expects its revenue growth for FY26 to be between 4% and 4.5% year-on-year in constant currency. The Earnings Before I^[7][8][9]nterest and Taxes (EBIT) margin was 18.6%, though it was impacted by 81 basis points due to restructuring costs. The total employee co^[8][9]unt for HCLTech stood at 226,379 at the end of the quarter, with a slight net decline of 261 employees. However, attrition im^[8]proved to 12.4%. ### Biocon Seeks Fre^[8][9]sh Capital, NLC India Plans IPO Biocon, a biopharmaceutical company, initiated a Qualified Institutional Placement (QIP) on January 12. The company aims to r^[13][14][12]aise up to ₹4,150 crore through this QIP. The indicative issue pr^[13][12]ice for the shares is ₹387.74 each. Biocon stated that the fu^[13][14]nds raised will support its future growth and expansion strategies. Biocon Biologics, a subs^[13]idiary of Biocon, is set to expand its biosimilar oncology portfolio. The company plans to introduce three new biosimilar oncology assets. These include biosimilars^{[15][16][17][18][19]} for Trastuzumab/Hyaluronidase (Herceptin SC/Herceptin HYLECTA), Nivolumab (Opdivo), and Pembrolizumab (Keytruda). These additions will make^{[15][17][18][19]} Biocon's oncology portfolio one of the most comprehensive in the industry. The company believes this^[15][17][19] expanded portfolio targets a market opportunity exceeding $75 billion. Biocon will also present^{[15][17][18][19]} its strategic vision, including plans for corporate integration, at the 2026 J.P. Morgan Healthcare Conference. Biocon Limited intends to^[15][20][19] integrate Biocon Biologics as a wholly-owned subsidiary, a process expected to be finished by March 31, 2026. Shreehas Tambe, CEO and M^{[15][16][18][19]}anaging Director of Biocon Biologics, is scheduled to participate in a fireside chat on January 13, 2026, at the ENDPOINTS at JPM26 conference. NLC India, a public sect^[20]or undertaking, received in-principle approval from its board to list its wholly-owned renewable energy subsidiary, NLC India Renewables Limited (NIRL). The company plans to dilu^{[21][13][22][14][23][24][25]}te up to a 25% stake in NIRL through a public offer. This move aligns with the^{[21][13][22][23][24][25]} Indian government's National Monetisation Pipeline targets. NLC India also approved ^[22][25]an investment of up to ₹66.60 crore in NIRL. This investment will be mad^{[22][26][23][24][27]}e by subscribing to equity shares to fund green energy projects. The company also declared a^[26][24]n interim dividend of ₹3.60 per equity share for the financial year 2025-26. The record date for this divi^{[21][13][22][23][24][25]}dend is January 16, 2026. Effective January 1, 2026, NL^{[22][23][24][25]}C India transferred seven renewable energy assets, totaling 1,430 MW, to NIRL as part of its asset monetization strategy. The company aims to expand it^[23]s renewable growth, aligning with India's clean energy transition goals. While NLC India has delivered^[22][28] a strong 215% return over three years, its return over the past year was 6%. ### Adani Energy Solutions F^[22]aces Downturn Adani Energy Solutions experienced a difficult trading period leading up to January 13. The company's stock price declined by 8.80% in the week ending January 9, closing at ₹961.05. This performance significantly ^[29]lagged behind the Sensex, which fell 2.62% during the same week. MarketsMOJO, a market analysis^[29] firm, downgraded Adani Energy Solutions from a 'Sell' to a 'Strong Sell' rating on January 9. This downgrade was attributed t^[29]o worsening financial fundamentals. On January 12, the stock contin^[29]ued its downward trend, hitting an intraday low of ₹931.3, representing a 3.1% drop from its previous close. The stock has now seen declines ^[30]for six consecutive trading sessions, losing 11.53% over this period. Despite a strong one-year return ^[30]of 27.50%, the stock has decreased by 9.61% year-to-date in January 2026. Adani Energy Solutions reported a^[30] stable collection efficiency of 101.75% year-on-year and a system availability of 99.69%. The company also noted a 40% grow^[12]th in power transformation capacity, reaching 118,175 MVA in the third quarter of FY26. Its transmission business has an ^[31]under-construction order book of ₹77,787 crore.

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