Q2 FY26 Results: BSE,BF,EM,NH,GP

⭐ Five Indian Stocks to Watch After Q2 FY26 Results: BSE, Bajaj Finance, Eicher Motors, Narayana Hrudayalaya & Glenmark Pharma

The Q2 earnings season has finally settled, and now that the dust has cleared a bit, some names stand out more sharply than others. Not because of noise, but because the stories beneath their numbers say a lot about where Indian markets could be headed. Five such companies — BSE Ltd, Bajaj Finance, Eicher Motors, Narayana Hrudayalaya, and Glenmark Pharmaceuticals — came out with results that deserve a deeper look.

Different sectors, different business models, completely different personalities — yet each one tells you something about India’s growth direction right now.

Let’s walk through them in a way that feels natural and meaningful, not just a list of numbers.

📌 BSE Ltd — A quiet compounding story hiding in plain sight

BSE’s Q2 numbers were the kind that make long-term investors quietly smile.

The exchange posted revenue of nearly ₹1,066 crore, about 44% higher than the same quarter last year, and net profit shot past ₹557 crore — a big 61% jump year-on-year.

What makes this interesting is that BSE is an asset-light business. They don’t need to build factories, expand inventory, or spend on massive physical assets. Their platform expands digitally, and when trading volumes rise — especially in the derivatives segment — profits grow disproportionately. That is the beauty of operating leverage.

The balance sheet is also something any investor would envy: almost net-debt free, with negative net debt around ₹4,700 crore due to strong cash reserves. This gives the company freedom to invest in products or ride out volatility without stress.

On the charts, the stock hovers around ₹2,825–2,830, a level that’s been tested a few times recently.

There is visible support near ₹2,720–2,750, and resistance between ₹2,850–2,900.

Traders like it for momentum; investors like it for long-term digital-infrastructure relevance.

If India’s equity culture continues to deepen — and all signs point that way — exchanges like BSE will quietly keep riding the wave.

📌 Bajaj Finance — A financial powerhouse still growing responsibly

You can’t discuss Indian markets without mentioning Bajaj Finance. The company again reported solid Q2 figures:

revenue around ₹20,179 crore (up 18% YoY), net profit near ₹4,875 crore (up 22%), and AUM touching ₹4.62 lakh crore.

Even in a high-interest environment, their NII grew by 22%, showing how strong demand remains in consumer and SME credit.

One thing that stands out: despite rapid expansion, the company still maintains one of the most disciplined risk frameworks in the lending world.

Gross NPA sits near 1.24%, net NPA 0.60%, and their capital adequacy at ~21% is comfortably above regulatory requirements.

Market-wise, the stock trades in the ₹1,015–1,020 region.

It’s been moving in a broad sideways channel, with support around ₹985–1,000 and resistance near ₹1,060–1,100.

Short-term traders treat it as a high-beta stock — when sentiment improves, it often rallies harder than the market; when fear rises, it can correct quickly.

Long-term investors, however, see beyond these swings. They look at the company’s 20–25% compounding engine and its repeatability. Bajaj Finance is one of those rare names where execution quality remains consistent across cycles.

📌 Eicher Motors — Royal Enfield leads a premium motorcycle wave

Eicher’s Q2 story is not just about numbers; it’s about the brand. Royal Enfield recorded its highest-ever quarterly sales at more than 3.27 lakh units, up nearly 45%. That’s not a small achievement in a competitive auto market.

Revenue touched around ₹6,522 crore, up more than 41%, while net profit landed near ₹1,369 crore, up about 24–25%.

Margins expanded too — always a sign that scale is working in your favour. The commercial vehicle JV (VECV) added stability as well.

The company’s balance sheet continues to impress — debt is almost negligible (around 0.01x debt-to-equity). For a manufacturer, that’s extraordinary.

Technically, the stock sitting at ₹6,690–6,700 looks steady, with support around ₹6,600 and deeper demand near ₹6,400. Resistance appears around ₹7,000–7,100.

Traders enjoy the stock for clean swings, but long-term investors see something deeper — a premium motorcycle brand with global aspirations and a path toward electric products. Not many auto brands have this kind of emotional attachment among users.

📌 Narayana Hrudayalaya — Scale, efficiency & disciplined expansion

Narayana Hrudayalaya has become one of India’s most respected hospital chains by doing something simple but hard: high-quality care delivered efficiently.

Q2 revenue was around ₹1,643 crore, up nearly 20%, while net profit moved to ₹258 crore, a strong 29–30% rise. Occupancy has been improving steadily, and international operations are turning into meaningful contributors.

Debt levels are moderate (debt-to-equity around 0.6–0.7x) — reasonable for a hospital chain in expansion mode. The company also completed a major UK acquisition worth ₹2,200 crore, which increases leverage temporarily but adds long-term growth capability.

The stock currently trades around ₹1,750–1,755, with support near ₹1,700–1,720 and resistance around ₹1,800–1,830.

Short-term traders look at it as a defensive name. Long-term investors appreciate the structural growth tailwinds — healthcare demand, improving margins, and the company’s predictable revenue model.

📌 Glenmark Pharma — A quarter boosted by a $700 million AbbVie win

Glenmark surprised the market with a blockbuster Q2.

Revenue came in at ₹6,047 crore, up a massive 76% YoY.

The star of the quarter was the US$700 million upfront payment from AbbVie for an immunology asset — part of a nearly US$1.93 billion overall deal.

EBITDA shot up to ₹2,360 crore, with margins expanding from ~17% to nearly 39%. Net profit climbed to around ₹610 crore.

This is a transformative moment for Glenmark — the deal gives it cash, reduces pressure on its balance sheet, and opens doors for future R&D partnerships.

The stock trades around ₹1,890–1,910, with support around ₹1,850–1,860 and resistance near ₹1,930–1,950. In the short term, it’s a news-driven stock; in the long term, investors will closely watch how management uses the AbbVie cash.

❤️ Final Thoughts

Each of these five companies represents a very different corner of India’s economic landscape, yet they all point in one direction — a market that’s maturing, scaling, and increasingly driven by fundamentals rather than hype.

BSE rides the rise of Indian equity participation
Bajaj Finance reflects the strength of domestic credit demand
Eicher Motors shows India’s shift toward premium consumption
Narayana Health benefits from healthcare’s structural demand
Glenmark demonstrates the value of Indian pharma innovation

These companies aren’t just numbers — they’re signals about where India is heading.

⚠️ Disclaimer:

This article is for education and information only. It is not investment advice, not a SEBI-registered research report, and not a recommendation. Please consult a SEBI-registered investment adviser before investing. Markets involve risk; capital loss is possible.

Q2 FY26 Results: BSE, Baj fn, EICHER, NH, GLENMARK