Nestle India, IDBI Bank, HDB Financial Slide Up to 9% as Sensex Surges 1,400 Points
Six stocks fell as much as 10% on October 15, 2026, even as bulls took over Dalal Street. The Nifty rose above 23,000 for the first time in two weeks and the Sensex led with a gain of about 1,400 points, as buying in information technology stocks drove the rally. These stocks falling today moved on earnings reactions and stock-specific news.
Stocks That Slid
| Stock | Intraday move | Trigger |
|---|---|---|
| Nestle India | Down as much as 9%, then pared | Management flagged rising inflation |
| HDB Financial Services | Down nearly 8% | Q2 FY27 net profit missed Street estimates |
| IDBI Bank | Down nearly 8% | Cabinet approved 60.72% stake sale to Fairfax entity |
| Canara Bank | Down over 6% | Weakness in public sector banks |
| Aditya Infotech | Down nearly 10%, then pared | Sharp fall after strong six-month run |
| Emmvee Photovoltaic Power | Down around 8%, pared nearly half | Q2 revenue missed estimates |
Nestle India
Nestle India reported a 36.3% rise in net profit for the July to September quarter, and total sales rose 20.5% on double-digit volume growth across product groups. Chairman and Managing Director Manish Tiwary said rising inflation, particularly food inflation, is a reality, and the shares fell as much as 9% before paring some losses.
HDB Financial Services
The stock dropped nearly 8% after Q2 FY27 net profit missed Street expectations. Brokerages including Nirmal Bang and Emkay Global cut their target prices.
IDBI Bank
IDBI Bank shares tumbled nearly 8% intraday after the Union Cabinet approved the sale of a 60.72% stake to Canada Inc, an entity of Fairfax Financial Holdings, for ₹52,878 crore. The government will sell 30.48% and Life Insurance Corporation of India will divest 30.24%. Jefferies views the move as positive. The fall followed a rally of nearly 13% in the previous session.
Canara Bank
Canara Bank fell over 6%, in line with weakness across public sector banks, with the Nifty PSU Bank index down 1.3%. The lender reported an 8.4% year-on-year rise in Q2 FY27 net profit to ₹5,175 crore on better asset quality and core income growth, and its net interest margin improved to 2.55% from 2.52% in the previous quarter.
Aditya Infotech and Emmvee Photovoltaic Power
Aditya Infotech plunged nearly 10% intraday before paring losses, though it has gained over 9% in three months and about 96% in six months. Emmvee Photovoltaic Power fell around 8% in early trade and recovered nearly half. Its Q2 FY27 net profit and revenue rose year on year, but revenue missed estimates. The stock is down 16% over three months and up 10% over six months.
Market and Sector Impact
The declines were concentrated in consumer staples, financials and mid-cap names, against a rally led by IT. Several of the stocks fell despite year-on-year profit growth, which shows that results below expectations or cautious commentary can outweigh headline gains.
What to Watch
Track inflation commentary from consumer companies, brokerage target revisions on HDB Financial, the open offer and approvals after the IDBI Bank stake sale, and performance of the PSU bank index.