MOFSL flags earnings recovery across 40 stocks
after close1 source ↓machine-written, see hownot a recommendation
- INFY close
- ₹1,023
- On the day
- +2.65%
- Futures OI, long build-up
- +1.1%
- Put-call ratio
- 0.84
- Max pain
- ₹1,020
Motilal Oswal Financial Services said Indian equities had become more attractive after a sharp valuation correction and identified 40 stocks for the September 2026 earnings season. The brokerage projected aggregate profit after tax across its coverage universe to grow 22% year on year, the strongest growth in 11 quarters. Excluding oil marketing companies, earnings growth was estimated at 24%, while Nifty 50 earnings were expected to rise 27%.
The report said stock selection would become more important as market performance increasingly depends on company-specific earnings trajectories. It also noted that large-cap and mid-cap valuations had corrected 31% and 36%, respectively, from their 2024 peaks. The named companies included Reliance Industries, ICICI Bank and Infosys, spanning energy, financial services and IT. 📈
OI Charts data for 9 Oct 2026 showed Infosys at ₹1,023, up 2.65% on the day, with volume of 1.41 crore shares. Its futures open interest rose 1.1%, indicating a long build-up, while the futures contract traded at a 0.70% premium. The options market showed a put-call ratio of 0.84, max pain at ₹1,020, the largest put open interest at ₹1,000 and the largest call open interest at ₹1,100. These levels frame the near-term earnings-season range, with the 27 Oct expiry 18 days away. 💻
Reliance Industries closed at ₹1,170 on 9 Oct, down 0.65%, after declining 8.5% over 20 sessions. Its futures open interest increased 1.5% alongside the price decline, indicating a short build-up. OI Charts data showed a put-call ratio of 0.68, max pain at ₹1,210, the largest put open interest at ₹1,160 and the largest call open interest at ₹1,250. ⚡
Investors will next track September-quarter results, management commentary and whether earnings delivery validates the brokerage’s growth estimates. For the derivatives market, the ₹1,000–₹1,100 band in Infosys and ₹1,160–₹1,250 band in Reliance Industries are the key listed open-interest zones to monitor. The report’s broader implication is that earnings surprises, rather than sector-wide valuation expansion alone, could drive stock-level returns during the results cycle.
Source: Livemint, 10 Oct 2026
Not investment advice. For informational purposes only.