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Supreme Court rules against Yes Bank's write-off of Rs 8,415 crore AT1 bonds
The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds. This ruling impacts 8,415 crore in bonds written off during the bank's 2020 restructuring. The court noted that the administrator lacked the authority to write down these bonds. Bondholders had contested the write-off, citing mis-selling of the securities. Yes Bank is now obligated to repay the bonds along with accrued interest.
Mutual funds suspend bulk subscriptions to gold ETFs ahead of festival season
The suspension comes ahead of Dussehra and Diwali, when gold purchases are considered auspicious and investments in precious metals typically rise.
MRPL, ONGC and OPaL form new petrochemicals marketing joint venture
The new entity will oversee branding, pricing, distribution, logistics, customer management and sales planning for the groups downstream products
India revises fuel export duties, raises petrol tax and cuts diesel levy
The revised levies follow the governments return to taxing fuel exports in March 2026 after crude prices surged during the US-Israeli war on Iran
India cuts back on costly Russian crude as West Asia flows recover
Moscows share of Indias crude imports have fallen to about 35% in September from as high as 56% in July
SMC Global closes NCD issue a week early after strong investor response
The company launched a prospectus dated September 28, 2026, offering Secured, Rated, Listed, Redeemable, Non-Convertible Debentures of 1,000 each
HDFC Bank shares dip, falls 4% in October: Can the stock recover?
HDFC Bank shares remained under pressure amid higher rates, with the stock witnessing active trading and extending its recent decline on Thursday
ITC shares slide 4% to near 52-week low after 9,437-crore block deal
As many as 36.66 crore ITC shares traded in block deal window at an average price of 257 per share
Strait of Hormuz traffic falls to lowest in over two months after attacks, data shows
Crude oil crossing strait fell 27% from Iran war high, Kpler says
Indian stock markets set for weak opening as global cues turn negative
Weakness across Asia followed adverse signals from Europe and the US, while investors awaited TCS quarterly results and its outlook
Fairfax gets 15 years to reduce stake in IDBI Bank to 26%
Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank and reduce its ownership over 15 years. The Reserve Bank of India has allowed Fairfax to decrease its stake to 26% eventually. Fairfax has two years to decide the future of CSB Bank, including merger or sale options. The group aims to transform IDBI Bank into a comprehensive financial services entity.
Money is going into data centres and AI in US... now India will be on everyones list: Prem Watsa
Canadian billionaire Prem Watsa's bet on IDBI Bank is backed by faith in the Indian economy, he told Mohit Bhalla and Sruthijith KK in a phone interview. The government Wednesday approved the divestment of a majority stake in IDBI Bank to Watsa's Fairfax Financial Holdings. Watsa, 76, who was born near Hyderabad and studied at IIT-Madras, migrated to Canada in the 1970s. Started by him as an insurance company, Fairfax Financial now has assets of over $100 billion. Edited excerpts from the interview are in the copy.
US stocks: Dow, S&P 500 end higher as traders shift from AI to healthcare
After a rocky start, the S
AI stock selloff eases as investors buy on dips amid falling bond yields
A selloff in risky AI-linked stocks eased as buyers returned to technology amid falling bond yields. CoreWeave experienced significant stock declines and bond yield concerns raised worries about rising financing costs. Major AI laboratories like Anthropic and OpenAI reflected slowing growth, contributing to overall investor nervousness. Stock movements varied among leading companies as interest rates influenced market dynamics.
SC ruling deals a heavy blow to Yes Bank's risk equity capital
Yes Bank is facing a significant reduction in its Common Equity Tier-1 capital buffer following a recent Supreme Court ruling. The court reversed the earlier write-down of over $800 million related to additional Tier-1 bonds. Analysts suggest that this verdict could lower Yes Bank's CET1 ratio to approximately 11-11.5%. The bank is currently analyzing the judgment to assess the final impacts on its financial standing.
Rising cyberattacks and online fraud underscore the risks of identity theft and financial loss. Personal cyber insurance may cover eligible incidents, including phishing and unauthorised transactions. Here's all you need to know.
Will Jio raise tariffs? Here's what Akash Ambani said ahead of IPO rollout
Ambani also identified home broadband as a major growth opportunity.
The Centre has approved a 30-day ad-hoc bonus for eligible Central government employees for 2025-26. The payout can reach 6,908 under the 7,000 monthly calculation ceiling, with pro-rata payments for shorter service and separate eligibility rules for casual labourers.
Pernod Ricard India sales grow 19% in Sep quarter; IPO plan awaits approval
French spirits maker Pernod Ricard, which on Thursday reported a 19 per cent sales growth in India for the September quarter, said its proposed initial public offering (IPO) in the country remains under discussion and is awaiting board approval. Pernod Ricard said double-digit sales growth in the first quarter of financial year 2027 in the India market, its second largest globally after the US, is driven by strong demand and continuing premiumisation as he market continues to enjoy dynamic consumer fundamentals. Pernod Ricard's financial year runs from July 1 to June 30. Growth is broad-based across the portfolio, with imported spirits in very strong double-digit growth, including Jameson, Absolut and Ballantine's, and with strong double-digit growth from Seagram's whiskies Royal Stag and Blenders Pride, said the company's earnings statement. Pernod Ricard said preparatory steps for a potential IPO in India had resulted in a favourable pipeline-filling effect, contributing
A retired LIC employee won ITAT Jaipur relief on 9.04 lakh in leave encashment after the tax department restricted her exemption to 3 lakh. The ruling examines whether the enhanced 25 lakh limit introduced in 2023 can benefit employees who retired earlier.
Gold price forecast: Why investors expect record highs within 2 years
For now, investors see continued central bank buying and demand for safe-haven assets as key supports for bullion. However, predictions of fresh record highs remain forecasts rather than guarantees.
US stocks: Nasdaq reports network disruption, US equities data feeds impacted
Nasdaq is currently experiencing a network disruption at its Carteret facility, affecting US equities markets. A technical issue has caused data gaps within several multicast groups. Clients are urged to transition to backup feeds from Chicago to avoid impacts. Those facing data gaps should file recovery requests for missing information. Nasdaq is actively investigating the problem and has issued an apology for the inconvenience caused.
How Saudi Aramco restores oil operations within days after attacks
Lessons from past strikes have reshaped the companys emergency planning, helping it assess damage and mobilise repairs while incidents unfold
Reliance Industries, BSE lead mutual fund buys in September, shows data
Mutual funds invested nearly 6,000 crore in Reliance Industries in September, making it the most-bought stock, followed by BSE with inflows exceeding 5,500 crore.
Nandan Nilekani calls for expanding Account Aggregators to reach street vendors for access credit
Nandan Nilekani emphasizes the importance of expanding the Account Aggregator framework to include self-employed individuals. He highlights the need for access to formal credit for gig workers and street vendors. By incorporating diverse financial information sources, the framework could better assess creditworthiness. Nilekani also stresses a sustainable business model for Account Aggregators to ensure sustainability. This expansion aims to create a more inclusive digital financial infrastructure in India.
S&P 500s road to 8,000 grows tougher as yields rise, AI doubts mount; all eyes on quarterly earnings
Analysts are doubtful about the S&P 500 crossing the 8,000 points mark despite strong earnings expectations. The rise in oil prices and bond yields has increased market uncertainty ahead of midterm elections. Major technology companies have reported mixed outcomes indicating potential risks for equity investments. Analysts suggest a growing divide in market performance among large and small companies.
Sundaram Finance has raised fixed deposit rates from October 16, 2026. Check revised rates across different tenures.
IDBI Bank employees' service conditions, pension benefits fully protected: Dipam secretary
The IDBI Bank would continue to operate under the existing framework of company and labour laws, says Arunish Chawla, secretary, DIPAM.
Sebi Chairman Tuhin Kanta Pandey announced efforts to include insurance information in the Consolidated Account Statement. The initiative aims to provide investors with a comprehensive financial overview of their investments. Additionally, RBI's support for integrating bank deposits into the framework is also underway. A comprehensive review of existing regulations is being conducted to improve transparency and ease compliance for businesses.
Tonbo Imaging IPO subscribed 4 times on Day 1, led by strong NII demand
The defence electronics maker's 852 crore offer attracted strong demand across investor categories, while secondary share deals valued the Bengaluru-based firm at 4,000 crore
Insurance commission norms not intended to disrupt business models: Irdai chief
Insurance Regulatory and Development Authority of India chairman Ajay Seth also hinted that Irdai is unlikely to extend the deadline for submitting feedback.
South Indian Bank to enter credit card market with proprietary tech platform by FY28 Q1
South Indian Bank is developing a proprietary tech platform to launch its credit card business next fiscal year. The bank aims to increase the share of retail, agriculture, and MSME loans to 65% from 61% in three years. A significant focus will be placed on growing income from RAM loans rather than lower-yielding corporate loans.
L&T Finance Q2 net profit rises 33% to Rs 975 crore
L&T Finance reported a 33% increase in consolidated net profit for the quarter ending September 30, 2026. The company's consolidated loan book rose 28% year-on-year to reach Rs 1.36 lakh crore. Net interest margin improved to 10.48%, while total income increased by 26% to Rs 5,484 crore. Asset quality also showed improvement, with gross non-performing loans declining to 2.7%.
CAS review: Sebi announces last 30-minute VWAP method for settlement
Sebi has revised the closing auction session framework, adopting the last 30-minute VWAP for derivatives settlement and changing trading hours from December 7, 2026.
Sebi revises CAS rules, changes derivatives expiry settlement methodology
Sebi has announced changes to the closing auction session for the equity cash market, which will begin in December 2026. The revised session will run from 3.30 pm to 3.40 pm, with specific phases for order entry. Moreover, the methodology for calculating settlement prices for derivatives contracts has been updated. Unexecuted orders will transition under new rules while maintaining time priority differences.
Copper hits 10-day low on profit-taking as supply worries ease
Copper prices decreased to their lowest point in ten days, influenced by profit-taking and lower supply fears. The decline in prices coincided with rising concerns over inflation and interest rates. After reaching an agreement at the Escondida mine, Chilean miner BHP alleviated worries about possible strikes. Additionally, Asian tech stock sell-offs further pressured the metals market, contributing to the copper dip.
Pernod Ricard India sales grow 19% in Sept qtr; IPO plan awaits board approval
Pernod Ricard has demonstrated remarkable sales growth of 19 percent in India for the September quarter, driven by strong market demand and ongoing premiumisation trends. The company's preparatory measures for a potential IPO have positively influenced sales. Despite declines in the US and China, India remains a focal market. The final decision on the IPO awaits board approval.
Why Bajaj Finance shares jump 3% amid 17,500-cr capital raise plans
The stock opened at 962.55, touched an intraday high of 995.80, and was trading well above its previous close of 948.30
Gap-Up fades as IT and HDFC Bank drag Nifty to near-flat; crude, Rupee weigh
Bank Nifty, which had surged over 600 points in early trade, surrendered nearly all its gains through the session
Kotak Mutual Fund halts subscriptions in two Yes Bank AT-1 bond schemes after SC order
Kotak Mahindra Mutual Fund suspended subscriptions in two debt schemes holding Yes Bank AT1 bonds after the Supreme Court overturned their Rs 8,415 crore write-off. The fund house is reviewing the judgment to determine its next course of action.
Markets break 8-week losing streak as Financials lead, healthcare & IT drag
The Nifty 50 opened at 22,532.40, against a previous close of 22,421.95, and was trading at 22,544.50, up 122.55 points or 0.55%, as of 9.25 am
Bajaj Finance gains on strong asset growth
Bajaj Finances AUM grew by 26.5% y-o-y to around 5.85 lakh crore
Airfloa Rail secures 34.85 crore contract for Vande Bharat sleeper interiors; details here
Airfloa Rail Technology has won a 34.85 crore contract from Integral Coach Factory, Chennai, to design interiors and carry out development work for a Vande Bharat sleeper trainset. Details.
Market Trading Guide: Adani Power among 2 stock recommendations for Friday
Indian equities rallied as global technology stocks weakened amid AI valuation concerns and US inflation worries. Analysts recommend Bajaj Holdings and Adani Power for Friday, citing improving technical momentum, key support levels and potential upside, subject to market conditions.
Jio's 30,213-cr IPO priced at 34x earnings, below Bharti Airtel's 39x
Jio Platforms' 30,213-crore IPO opens on October 21 at a price band of 1,065-1,119 a share, valuing the firm at 10.3 trillion, with proceeds earmarked for debt repayment
SC upholds order quashing Yes Bank's Rs 8,415 cr AT-1 bonds' write-off
The Supreme Court has upheld the Bombay High Court's decision to quash the Yes Bank administrator's write-off of Rs 8,415 crore worth of Additional Tier 1 (AT-1) bonds, criticising the RBI and Yes Bank's conduct.
Indian rupee set for mild relief from dip in oil, fading Fed October hike bets
The rupee is expected to open in the 96.22-96.26 range, per traders, having settled at 96.3150 to the dollar on Thursday
HDFC AMC net profit up 4% on better earnings
Revenue increased 14% to 1,170 crore (1,027 crore) and other incomes plunged to 71 crore (96 crore) in the quarter under review
Ola Electric promoter Bhavish Aggarwal pledges 4.32% stake to fund 1,000-crore rights issue
The promoter will participate alongside other eligible shareholders, with the company yet to finalise the issue price, ratio and record date
From 228 in 2016 to 4.9 per GB: Akash Ambani says Jio data prices are lowest globally
Speaking at Jio Platforms' IPO media meet on 15 October, Ambani said that the company helped transform India from a data-scarce market to a data-abundant nation by making mobile data services affordable.
Indigenous JK 250e UAV Certified By DGCA For Training
Drogo Aerospace's JK 250e fixed-wing VTOL UAV has received type certification from the DGCA on Thursday. This UAV, designed for the Indian armed forces' ISR needs, combines fixed-wing efficiency with VTOL capability and has an endurance of two to three hours. The certification is crucial for indigenous UAV technology development and operator training.
South Indian Bank Q2 profit rises 21% to 426 cr on higher interest income
South Indian Bank's net profit rose 21.3% to 426 crore in Q2FY27 as net interest income grew 38% to a record 1,116 crore, while gross NPAs declined to 1.24%
Jio Financial Services Q2 Results: PAT drops 51% YoY to Rs 340 crore; NII soars 165%
Jio Financial Services reported a 51% year-on-year decline in Q2 FY27 profit to Rs 340 crore, despite total income rising 132% and net interest income surging 165%. Its NBFC business delivered 140% profit growth amid expanding financial services operations.
IT, private banks lift Nifty 1.7% as Asian AI stocks tumble; smallcaps fall
Nifty gains 1.66% as IT stocks, private banks and Reliance rally despite a sell-off in Asian technology shares; broader market breadth stays weak, with smallcap indices falling.
Nilekani Pushes Account Aggregator For Wider Credit Access
Nandan Nilekani, co-founder of Infosys, has urged for the expanded adoption of the Account Aggregator (AA) framework to facilitate formal credit access for self-employed individuals and gig workers. He highlighted its potential to enable cash-flow-based lending by leveraging diverse data streams, moving beyond traditional asset-based lending, and fostering a more inclusive digital financial infrastructure in India.
Workday CEO On AI's Impact On Jobs
Workday, a global HR tech major, has unveiled its new AI platform, Sana, designed to automate human resources and finance functions. Chairman and CEO Aneel Bhusri stated that AI is likely to replace low-cost, outsourced jobs due to increased productivity, rather than leading to jobs moving out of first-world countries. The platform uses AI agents for tasks like payroll and compliance, and Workday has acquired C1.ai to manage access rights for these agents. Bhusri emphasised that AI should augment humans, redefining roles rather than replacing them entirely.
Diwali bonus: Will your festive payout be taxed? What salaried employees need to know
Diwali cash bonuses from employers are taxed as salary at the employees applicable tax rate. Here's when gifts are exempt from tax and how to report it in ITR.
What Akash Ambani said on Jio tariff hikes ahead of record IPO launch
Akash Ambani said Jio can raise mobile tariffs but prefers growing revenue through digital services, broadband and enterprise solutions. Ahead of its Rs 30,213 crore IPO, Jio aims to expand margins and connect 100 million homes.
What Akash Ambani said Jio tariff hikes ahead of record IPO launch
Akash Ambani said Jio can raise mobile tariffs but prefers growing revenue through digital services, broadband and enterprise solutions. Ahead of its Rs 30,213 crore IPO, Jio aims to expand margins and connect 100 million homes.
Jio IPO: Valuation, GMP & Key Numbers of Ambanis Telecom Giant Decoded
Cemindia Projects raised Rs 1,400 crore through a qualified institutional placement priced at Rs 1,108 per share, attracting 2.3 times demand over the base issue. Leading mutual funds participated as the company secured strong credit ratings and shares rallied.
SEBI seeks IRDAI coordination to make insurance details available on e-CAS
SEBI wants investors to view their bank deposits, investments (demat, mutual funds, stocks) and insurance policies together in a single CAS, creating a unified financial dashboard through the Account Aggregator framework
Paras Healthcare fixes IPO price band at Rs 660-693; issue opens on Oct 21
Paras Healthcare has set its IPO price band at Rs 660-693 per share, targeting Rs 1,450 crore. Opening October 21, the issue will fund debt repayment and corporate needs, supporting expansion across its hospital network in India.
US stocks: Nasdaq nears one-month low as AI stocks slide on debt concerns
On Thursday, the Nasdaq index fell sharply, hitting near a near-month low amid rising concerns about how increasing interest rates might impact investments in artificial intelligence and related sectors.
The Andhra Pradesh High Court has directed authorities to pay widow pension arrears from the date of application, ruling that administrative delays cannot deprive eligible beneficiaries of their entitlement. The arrears must be paid within eight weeks.
India's August balance of payments surplus swings to $45.4 billion from $5.6 billion deficit
India's balance of payments showed a surplus of $45.4 billion in August, despite a current account deficit. Net transfers, which include remittances, increased to $12.8 billion compared to the previous year. The capital account saw inflows of $50.6 billion, significantly higher than last year's $0.5 billion. Central bank measures to attract capital inflows have resulted in substantial foreign-exchange deposits.
US stocks: CoreWeave's slump puts spotlight on debt behind AI boom
CoreWeave's financial distress is highlighted by its $50 billion debt and significant default risks, causing stock prices to drop. Investors express concerns about how the AI industry's expansion is financed, especially with rising interest rates. The company's efforts to secure an investment-grade rating indicate attempts to access more capital. Analysts project a bleak future for many neoclouds, with potential shutdowns by 2030.
Nilesh Shah on PSU privatisation: How Hindustan Zinc offers a lesson for IDBI Bank
Kotak AMCs Nilesh Shah cited Hindustan Zinc as an example of how strategic divestment combined with a retained minority stake can create long-term national wealth. He said the governments remaining stake is now worth over Rs 62,000 crore and expressed hope that IDBI Banks divestment would deliver similar value.
Buying your first health insurance policy at 26? Know the cover, add-ons and benefits to compare
A 26-year-old earning 40,000 a month should prioritise adequate health insurance coverage, compare policy exclusions and hospital networks, and choose add-ons such as restoration, maternity and OPD benefits based on costs and individual needs.
Sundaram Finance Ltd increasesdeposit interest rates
The move, which widens the rate gap between regular and senior accounts, aims to attract more funds amid shifting market rates
22, 24 carat Gold prices remain steady across metro cities on October 4
22, 24 carat Gold prices remain steady across other cities on October 4
Jio Platforms IPO | Akash and Isha Ambani speak at Jio Press Conference
Jio Platforms IPO likely by Oct end at enterprise valuation of $143-146 billion
Jio Platforms IPO is touted as India's largest public offer at an estimated size of $3.8 billion
Leela Palaces Hotels & Resorts among 4 stocks hitting 52-week highs; rally up to 32% in a month
Four BSE 500 stocks, including Sun TV Network, Allied Blenders and Distillers, Leela Palaces Hotels & Resorts and Shyam Metalics, hit fresh 52-week highs, gaining up to 32% over the past month amid a broader market rally.
IRDAI eyes January 2028 beta launch of Public Insurance Registry: Chairman Ajay Seth
IRDAI is working on a Public Insurance Registry to enhance insurance data sharing among stakeholders. The beta version is scheduled for January 2028, as announced by Chairman Ajay Seth. This digital platform aims to standardise and facilitate the exchange of insurance information. Feedback from industry participants is requested to improve the proposed system, with an extended deadline of October 17, 2026.
Jio IPO: Akash Ambani says Rs 30,213 crore issue will push company towards net debt-free status
Jio Platforms plans to use IPO proceeds of up to Rs 27,500 crore to repay borrowings and move towards net debt-free status. Akash Ambani also highlighted opportunities in India's projected $1.4 trillion digital economy by FY31.
How Akash, Isha Ambanis missed college assignment led to the creation of Rs 10 lakh crore Jio
A failed college assignment by Isha Ambani helped spark the idea for Jio, which is now preparing for a Rs 30,213 crore IPO at a valuation of around Rs 10.3 lakh crore. Akash Ambani said the proceeds would go towards debt reduction, as Reliance seeks to unlock value from its digital business.
YES Bank examining SC ruling on Rs 8,415 crore AT1 bond write-off
YES Bank is currently reviewing the Supreme Court decision that overturned its AT1 bond write-off. This ruling follows the Bombay High Court's earlier decision issued in January. The bank has stated that it will make necessary disclosures in light of the judgment. YES Bank shares experienced a significant drop of 14.43% following this news. The bank maintains it has complied with all regulatory disclosure requirements during the legal proceedings.
Effective insurance coverage in India could double from 15% to 30% in five years: IRDAI Chairman
Only about 15 per cent of India's population and businesses are estimated to have effective insurance coverage, a figure that could double to 30 per cent over the next five years, Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth said on Thursday, highlighting the large protection gap in the country.
Axis Mutual Fund launches Indias first EV Index fund, NFO opens October 16
The New Fund Offer opens on October 16, 2026, and closes on October 30, 2026, with a minimum investment of 100
Torrent Power plans around $500 million bond sale, bankers say
Torrent Power is set to launch a substantial bond sale of rupee-denominated bonds, aiming to raise around $500 million. This comes after their earlier issuance of 38 billion rupees. The company's initiative to diversify funding sources includes discussions with potential investors. The funds will be directed towards the acquisition of Nabha Power for approximately 69 billion rupees, reflecting a growing trend of companies exploring funding avenues beyond traditional banks.
Why are credit default swaps unnerving AI investors?
The cost of insuring against the risk of potential US tech defaults has hit record levels in the latest sign of credit stress building in the so-called AI trade, especially for data centres dependent on future revenue.
Jio Platforms to Reliance Power: A look at India's 10 biggest IPOs
Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, is poised to launch India's largest-ever initial public offering (IPO) at Rs 30,213 crore, surpassing Hyundai Motor India's Rs 27,870-crore offering.
Sebi writes to Irdai to include insurance data in consolidated statement
Sebi seeks to include insurance and bank deposit details in consolidated account statements to give investors a comprehensive view of their financial assets
Tech Mahindra Q2 Results: Along with the earnings, Tech Mahindra's board declared an interim dividend of Rs 15 per equity share of face value Rs 5 each, equivalent to 300%, for the financial year 2026-27. It also approved a 1:1 bonus issue, under which shareholders will receive one bonus equity share for every existing equity share held, subject to the applicable terms and conditions.
A 25-year-old living independently in a Tier 1 city may need a monthly take-home salary of 70,000 to 1.4 lakh to meet living expenses and save 20-30% of income, depending on the city and lifestyle.
Nifty touches 23,000 as India bucks Asian rout; Yes Bank, IDBI crash on rulings
Large-cap buying lifted benchmark indices, but falling midcaps, smallcaps and weak market breadth raised questions about the strength of the recovery
Essar Oil & Gas bags 5 coal bed methane blocks across West Bengal, MP and Telangana
The newly awarded acreage will strengthen the companys presence in established gas-producing regions and open up opportunities in Telanganas Godavari valley
