The Economic Times

Mukesh Ambani experienced a significant increase in wealth following a rally in Reliance Industries shares. The company's stock rose by 11.64%, marking its strongest gain in over six years. Reliance's quarterly earnings surpassed expectations, especially in its oil-to-chemicals and telecom sectors. Analysts have since shown increased optimism about the company's financial outlook and growth prospects. However, challenges remain for Reliance's retail business and overall stock recovery.

Amit Shah stated that Rahul Gandhi would never become Prime Minister while addressing a gathering in Hyderabad. He accused Congress of opposing the Special Intensive Revision of electoral rolls to protect their alleged vote bank. Shah also claimed that the Congress party aims to maintain ineligible voters on the rolls through bogus voting. He responded to Gandhi's assertion regarding voter deletions, labeling it a lie.

Marico reported a 31% YoY rise in Q2FY27 net profit to Rs 550 crore, while revenue grew 12% to Rs 3,897 crore. EBITDA increased 27%, margins expanded to 18.2%, and management expects double-digit growth during FY27.

School holiday November 3: Schools in parts of Andhra Pradesh, Odisha and Tamil Nadu may face closures on November 3 as Cyclone Murasu approaches the coast. The IMD has warned of heavy rainfall and strong winds in several districts. While further holiday announcements are possible, no statewide school closure has been confirmed so far. Parents and students should check official district updates.

More than 19 million registered voters in Texas are eligible to participate in the November 3, 2026, election, but those who missed the early voting deadline on October 30 will have just one more opportunity to cast their ballots. The polls set to open statewide from 7 a.m. to 7 p.m. on Election Day in Texas.

Bitcoin traded near $78,000 as investors assessed the reported $6.3 billion Binance security breach. Crypto markets showed a modest recovery, while ETF outflows, liquidations, macroeconomic uncertainty and upcoming US events kept investor sentiment cautious.

Indians are increasingly earning from non-salary sources like trading and freelancing as reported by ClearTax. The percentage of self-filers reporting such income grew significantly from previous years. Data shows that young individuals are entering investment opportunities earlier than ever before. Additionally, women's participation in capital gains and higher income brackets has increased noticeably. This reflects a significant change in financial habits and diversification of income sources

State Bank of India will announce Q2FY27 results on November 3, with brokerages forecasting 11-13% NII growth and up to 25.2% profit growth. Investors will track margins, loan growth, deposits, credit costs and asset quality.

Knowledge Marine shares gained 4.17% after securing a Rs 303.17 crore, three-year maintenance dredging contract from New Mangalore Port Authority. The company also announced a November 6 record date for its five-for-one stock split.

Imran Khan submitted an unconditional apology to the Bombay High Court as he challenges a 'Leave India Notice'. This notice was issued by the Foreigners Regional Registration Office after his alleged participation in a protest. The court has scheduled a hearing for December 7, which keeps the notice in abeyance for the time being.

Mold-Tek Packaging shares surged nearly 17% after the company reported a 35.5% YoY rise in Q2 FY27 net profit and 30.5% revenue growth. Strong pharma and FMCG packaging volumes supported performance, while new product launches and expansion plans strengthened its growth outlook.

French bond yields remained steady despite Fitch downgrading the country's outlook to negative, as investors weighed fiscal concerns and political uncertainty against easing energy prices and developments in the Middle East.

The Supreme Court refused urgent listing of a plea alleging a 700% surge in airfares, with the bench telling passengers, Don't travel by air. The case comes amid growing scrutiny of unpredictable airline ticket prices in India. The court is separately hearing a plea seeking an independent aviation regulator, transparent airfare rules and stronger passenger protection against exorbitant fare hikes.

Oyo parent PRISM reported a 35% YoY rise in Q1FY27 revenue to Rs 2,814 crore, while net profit grew 17% to Rs 353 crore. Gross Booking Value increased 30% to Rs 9,600 crore and EBITDA rose 24% to Rs 760 crore. Founder Ritesh Agarwal highlighted growth across hotels and vacation homes, technology investments and AI-led operational efficiencies.

SIR news: BJP has initiated a nationwide campaign called 'Loktantra Bachao, Arajakta Hatao' to counter opposition protests. Senior leaders will conduct padyatras in various states and challenge the opposition's claims. The campaign addresses the Special Intensive Revision of electoral rolls, which is currently under scrutiny. BJP intends to engage with the public through targeted programs, social media, and public meetings.

Mamata Banerjee's nameplate was removed from the main hall of Kolkata's cultural centre Nandan and painted over. This action occurred before the annual Kolkata International Film Festival, while Jyoti Basu's plaque remains intact. Banerjee participated in a mega rally in Delhi addressing alleged electoral irregularities and the Special Intensive Revision exercise. She accused the BJP of looting West Bengal and emphasized the need to protect democracy.

India's manufacturing sector is highly fragmented, with large factories significantly outpacing small units in productivity and output. While large establishments employ most industrial workers and generate high GVA, smaller units remain burdened with debt. The productivity gap is exacerbated by limited access to technology and training for smaller factories. Additionally, women workers constitute a small fraction of the overall workforce in manufacturing.

Japanese government bond yields were mixed on Monday, with the 10-year benchmark holding steady at 2.77%, while the 20-year and 30-year yields rose. Investors assessed global interest rate trends ahead of a series of government debt auctions, including a 10-year bond sale on Thursday, followed by 30-year and five-year auctions later this month.

India's mainboard IPO market raised a record Rs 84,400 crore in H1 FY27, up 30% year-on-year, as September saw unprecedented fundraising. Strong investor participation, confidential filings and a robust pipeline supported primary market momentum.

Foreign institutional investors raised their stakes in 19 Nifty 50 companies in the September 2026 quarter. Of these, 11 stocks have gained 10% to 50% in FY27 so far, reflecting strong price momentum alongside increased FII ownership.

MobiKwik returned to profitability in Q2 FY27, reporting a record consolidated net profit of Rs 11.8 crore against a loss of Rs 28.6 crore a year earlier. Profit rose over 55% sequentially from Rs 7.6 crore in Q1 FY27, while revenue from operations increased 9% year-on-year to Rs 1,082.6 crore.

In a bid to invigorate domestic and foreign mutual fund investments, India's Securities and Exchange Board has put forth recommendations for tax concessions. These proposals are designed to boost post-tax returns, particularly as market performance has been behind that of emerging counterparts. The current capital gains tax rates are seen as a hindrance, leading to demands for a review.

Goldman Sachs has revised its outlook on the Bank of England's interest rates, now predicting a possible quarter-point rise in November's monetary policy meeting. This would be the first increase since 2023, influenced by climbing energy costs and robust economic growth. Although immediate policy shifts are unlikely, the Bank will vigilantly observe inflation risks, maintaining rates at 4.25% through mid-next year.

CAIT has urged the Delhi Lieutenant Governor to notify designated protest sites to safeguard trade activities. They highlighted the growing disruptions caused by protests and their impact on daily economic life. The traders' body emphasized the need for a balanced solution that respects both the right to protest and the need for uninterrupted business.

Devyani International is seeing promising advancements in its smaller Indian brand portfolio, particularly Biryani By Kilo and Vaango. In Q2 of FY27, Biryani By Kilo achieved impressive revenue leaps compared to last year, while Vaango noted strong same-store sales and increased its number of locations. The firm is strategically pivoting away from foreign franchises to nurture its indigenous brands, reflecting a shift towards enhanced profitability across its offerings.

Reliance Industries shares surged on Monday, marking their sharpest single-day rally in nearly seven years and adding Rs 1 lakh crore to its market capitalisation, taking it to Rs 17 lakh crore. The rally followed strong Q2 FY27 results, with consolidated net profit rising 41% year-on-year to Rs 25,548 crore and revenue growing 29% to Rs 3.32 lakh crore. The oil-to-chemicals segment led earnings growth, with EBITDA jumping 68% to a record Rs 25,203 crore.

Coal India subsidiary South Eastern Coalfields has filed its draft papers with SEBI for an IPO comprising an offer for sale of up to 66.81 crore shares. One of Indias largest coal producers, SECL reported higher revenue and profit and plans to list on the BSE and NSE.

Indias commercial real estate market is entering a new phase, with office, retail and warehousing offering fresh opportunities for institutional investors, a JLL report said. Despite cap rates hitting historic lows, the sector continues to offer double-digit unlevered returns over five years. With limited scope for further compression, future returns will increasingly depend on rental income growth and operational efficiencies.

A reported $6 billion crypto heist at Binance has rattled investors and revived concerns about cryptocurrency risks. Binance said its initial investigation pointed to a compromised DevOps engineers laptop, which may have enabled unauthorised withdrawals. The FBI blamed North Korea for the attack, while Binance said it would cover the losses.

Major US technology companies sharply reduced dividends and share buybacks as record AI infrastructure spending pushed their combined free cash flow into deficit. The shift raises concerns about shareholder returns and places greater pressure on Big Tech to deliver profit growth from its AI investments.

India MSME news: India's micro, small and medium enterprises are exploring the adoption of artificial intelligence to enhance productivity. AI is expected to generate significant economic value for these enterprises in manufacturing and services sectors. Various challenges remain regarding the integration of AI into existing workflows and overcoming cost barriers. Collaborative efforts among industry bodies, technology providers, and the government are essential for facilitating this transition.

Gold has fallen more than 30% from its January record high, with rising oil prices, inflation concerns and expectations of further Fed rate hikes adding to pressure. Analysts remain cautious about a near-term recovery, even as major banks retain bullish forecasts for 2027.

Wall Streets AI-led rally faced a sharp setback as the Nasdaq recorded its biggest single-day fall since June. Heavy losses in technology stocks reflected growing investor concerns over hyperscaler spending and the returns on artificial intelligence investments.

Coal India shares jumped more than 4% after the state-run miner reported record monthly coal production and supplies in October. Total supplies crossed 70 million tonnes for the first time, while deliveries to the power sector reached an all-time high of 57.1 million tonnes.

Devyani International, the parent company of KFC and Pizza Hut in India, has recorded a significant reduction in losses during its second quarter. For the third straight quarter, same-store sales for KFC increased by 4.4%. With revenues climbing by 10.4% to 15.19 billion rupees and expenses only rising 8.3%, Chairman Ravi Jaipuria emphasized the ongoing challenges posed by inflation and increasing interest rates.

Dixon Technologies shares surged 11% after the company reported a 46.7% YoY rise in Q2FY27 revenue to Rs 21,794 crore. However, net profit fell 48.7% to Rs 343.7 crore, while EBITDA declined 37% to Rs 666 crore. EBITDA margin contracted to 3.1% from 7.1% a year ago, despite higher revenue and operating profit growth.

In an effort to advance their free trade agreement, India and the European Union held pivotal discussions led by Commerce Secretary Rajesh Agarwal, who visited Brussels for dialogues with prominent EU officials. Central to the talks were customs cooperation and trade facilitation, deemed critical for the agreement's efficacy. Additionally, industry stakeholders from the diamond sector were engaged to harness opportunities within India's expanding market.

A Delhi-NCR techie couple allegedly claimed Rs 40 lakh in tax deductions after donating just Rs 50 to a political party. An Income Tax Department probe uncovered fabricated donation receipts, a ChatGPT-generated Yale education loan certificate, bogus housing loan claims and undisclosed rental income, estimating tax evasion of Rs 5.3 crore over five years.

More than a trade deal, the India-New Zealand FTA is a strategic gateway to new markets, fresh investment and stronger capabilities, positioning India to compete, connect, and grow across the Asia-Pacific.