Market Watch: Swiggy, Colgate, and Adani Energy Shares Fall Ahead of Q2 Earnings

Several major companies saw their share prices dip on the NSE on October 22, 2026, ahead of their second-quarter earnings reports. Meanwhile, firms like Nippon Life AMC posted modest gains, and select companies such as Mahindra Holidays released their financial updates.

Indian equity markets experienced trading activity on October 22, 2026, as multiple listed entities prepared to announce their financial results for the second quarter. Shares of several prominent companies, including Swiggy Ltd, Colgate-Palmolive (India) Ltd, and Adani Energy Solutions Ltd, registered losses during morning trade on the National Stock Exchange (NSE).

Swiggy Ltd shares fell 4.76 per cent to trade at ₹213 at 11.07 am. The stock opened at ₹220.50, hitting an intraday low of ₹209.65 against a high of ₹221.10. Similarly, Colgate-Palmolive (India) Ltd saw its stock drop 1.52 per cent to ₹1,693.90, opening at ₹1,719.90 and recording an intraday low of ₹1,687.60.

Energy and infrastructure counters also traded lower. Adani Energy Solutions Ltd fell 0.72 per cent to ₹1,314.50, with an intraday low of ₹1,294.30. Adani Total Gas Ltd declined 0.74 per cent to ₹555.25. Other companies seeing downward movement included Havells India Ltd, which fell 0.49 per cent to ₹1,066.40, and Cyient Ltd, which dropped 0.25 per cent to ₹1,166.80.

In contrast, Nippon Life India Asset Management Ltd bucked the trend, rising 0.28 per cent to ₹1,002.80 on the NSE. The stock recorded an intraday high of ₹1,011.90 and a low of ₹984.20.

Alongside pre-earnings market movements, several firms released their financial performance metrics. Mahindra Holidays & Resorts India reported a 16.42 per cent year-on-year increase in net profit to ₹19.71 crore, alongside a 9.3 per cent revenue growth to ₹784.13 crore. The company cited steady domestic momentum and expansion plans for the period, noting that RevPAR growth for domestic like-for-like consolidated hotels was 25 per cent year-on-year at ₹8,220, with occupancy improving to 82 per cent.

Additionally, Adani Green Energy reported a 16 per cent year-on-year increase in consolidated profit after tax, reaching ₹747 crore for the second quarter of FY27. Eternal reported a ₹125 crore Q2 net profit on revenue of ₹24,138 crore, supported by Blinkit store expansion and Zomato growth.

The broader reporting calendar includes announcements from a wide array of companies, such as Abhishek Finlease, BlueStone Jewellery and Lifestyle, Jindal Stainless, and Sapphire Foods India, among others.

"Market corrections ahead of earnings announcements are a common reflection of investor caution and profit booking. While short-term stock price movements fluctuate based on near-term sentiment, the underlying operational metrics reported by hospitality and energy firms indicate stable sector-wide demand. Investors should focus closely on long-term fundamentals rather than intraday volatility during high-activity earnings weeks." — Dr. Shishir Gupta, Founder & CEO, StartupLanes