Stocks To Watch: IREDA, Tech Mahindra, HCL Tech, ONGC, Anand Rathi, Oil India, And Others

Amidst fluctuating global cues and domestic market dynamics, several stocks are drawing significant attention from investors and analysts. These include Indian Renewable Energy Development Agency (IREDA), Tech Mahindra, HCL Tech, Oil and Natural Gas Corporation (ONGC), Anand Rathi Wealth, and Oil India.

IREDA

Indian Renewable Energy Development Agency (IREDA) is in focus as the company is scheduled to announce its financial results for the second quarter of FY26 today. Ahead of the earnings release, IREDA reported an 86% year-on-year increase in loan sanctions, reaching ₹33,148 crore during April-September FY26. Disbursements also saw a healthy 54% growth, totaling ₹15,043 crore. The company's loan book outstanding stood at ₹84,445 crore as of September 30, 2025, a 31% increase from the previous year. However, some analysts have issued sell signals based on moving average crossovers, indicating a potential price decline in the short term. Despite this, Anand Rathi has a "Buy" recommendation on the stock with a target price of ₹265.

Tech Mahindra

Shares of Tech Mahindra are being closely monitored as the company is expected to announce its second quarter results later today. The stock has experienced a recent decline, trading at ₹1447.1, which is below key moving averages. Year-to-date, the stock has dropped by 14.66%, contrasting with the gains of the Sensex. A board meeting is scheduled today to consider the financial results and an interim dividend. Despite recent challenges, Tech Mahindra has demonstrated resilience over longer periods, with a 3-year performance of 43.71% and a 5-year performance of 67.79%.

HCL Tech

HCL Tech is another IT company in the spotlight as it recently announced its Q2 results and an interim dividend of ₹12 per share. The company's consolidated revenue for the quarter stood at ₹31,942 crore, up 5% sequentially and 11% year-on-year, supported by strong performance in its services and engineering segments. Net income came in at ₹4,235 crore, flat year-on-year but up 10% sequentially. HCLTech has maintained its revenue growth guidance at 3–5% year-on-year in constant currency terms for FY26 and plans to reduce its reliance on H-1B visas while rolling out salary increments for its employees. A "Buy" signal has also appeared based on weekly stochastic crossovers, suggesting a potential price gain in the coming weeks.

ONGC

Oil and Natural Gas Corporation (ONGC) is planning to curtail its oil production costs by 15% in the next two years, expecting crude oil prices to range between $60-$65 per barrel in the medium term. The company is targeting savings of around ₹9,000 crore by 2026-27. ONGC has also set up a dedicated cost council to bring down production costs. However, technical analysis indicates potential bearish trends, with moving average crossovers suggesting a possible price decline. Despite these concerns, Anand Rathi and Motilal Oswal Financial Services have "Buy" recommendations on the stock with target prices of ₹290 and ₹330, respectively.

Anand Rathi Wealth

Anand Rathi Wealth announced its Q2 FY26 results, reporting a 31% year-on-year increase in net profit to ₹100 crore. Total revenue rose 23% to ₹307.2 crore. The company has declared an interim dividend of ₹6 per equity share, with a record date set for October 17, 2025. For H1 FY26, the company posted a consolidated net profit of ₹194 crore, a 29% year-on-year increase, and total revenue rose 19% to ₹591 crore.

Oil India

Oil India shares experienced a rise following the news of a natural gas discovery in Andaman. The company has completed the mechanical phase of its Numaligarh–Siliguri Product Pipeline (NSPL) project, enhancing transportation capacity from 1.72 MMTPA to 5.5 MMTPA. This is part of the broader Numaligarh Refinery Expansion Project, which aims to increase refinery capacity from 3.0 MMTPA to 9.0 MMTPA.

Market Overview

The broader market rebounded on Monday, following a plunge on Friday, after President Trump softened his tone on China, easing concerns about escalating trade tensions. The S&P 500 jumped 1.6%, the Dow Jones Industrial Average rose 1.3%, and the tech-heavy Nasdaq composite gained 2.2%. However, investors are advised to remain cautious as global trade conflicts and potential flare-ups could still trigger sharp market responses.