The Economic Times

Venu Srinivasan and his daughter Lakshmi Venu have initiated caveats against each other regarding family business matters. The filings occurred in Chennais civil and commercial courts earlier this month. While Venu and his son Sudarshan claim a previous agreement exists, Lakshmi is advocating for a fair settlement. Mallika and Lakshmi have expressed their intention for an amicable resolution through discussions.

Indira IVF is considering an acquisition of Sabine Hospital and Research Centre valued at 1,200-1,300 crore. Sabine provides a range of fertility and maternal healthcare services across two facilities in Kerala. The deal would strengthen Indira IVF's presence in the fertility treatment sector in India. Sabine is expected to generate a revenue of 230-250 crore in FY 27.

HDFC Bank and Axis Bank together accounted for nearly 43% of the net additions during September, adding 539,878 cards between them. The two private sector lenders emerged as the largest contributors to fresh additions, followed by SBI Cards.

IRDAI chief Ajay Seth criticises the approach of some digital platforms, warns high commissions leave less in the risk pool, push up premiums even as regulator seeks to build consensus

Regional rural banks are set to improve their cyber security through the establishment of cyber security operations centres. They will also develop capabilities for vulnerability assessments and incident response as part of the reform agenda. The Financial Stability and Development Council plans to enhance cyber security measures following previous ransomware attacks. New initiatives will include implementing enterprise data warehouse solutions for better data management and reporting.

INDIA bloc has announced a public impeachment program against Chief Election Commissioner Gyanesh Kumar for October 30. Congress President Mallikarjun Kharge convened opposition leaders for this event taking place at his residence. A rally is scheduled for November 1 at Ramlila Maidan, with police approval subject to certain conditions. Organisers must ensure the event concludes by 5 pm and maintain proper facilities for attendees.

Maharashtra Chief Minister Devendra Fadnavis announced efforts to halt forceful loan recoveries by microfinance companies affecting farmers. As drought conditions worsen, the state government will provide Rs 5,000 relief to farmers during Diwali. The government approved Rs 1.5 lakh crore for additional assistance while ensuring direct fund transfers to farmers. Deputy Chief Minister Eknath Shinde confirmed that multiple benefits would be offered to farmers declared under drought.

The government had relaxed FDI restrictions imposed under Press Note 3 for countries sharing land borders with India, such as China and Pakistan, through Press Note 2 in March.

Reserve Bank Deputy Governor Poonam Gupta indicated that India's real GDP growth fell short due to external shocks. She highlighted that India has managed over 7 percent growth despite challenging circumstances in recent years. Additionally, Gupta expressed confidence that improved global conditions could enhance growth by another percentage point. She discussed the importance of diversifying economic activities to mitigate risks and emphasized that food security remains stable amid El Nino.

Allied Blenders and Distillers reported a net profit increase of 9.7% in the September quarter of FY27. The company's revenue from operations rose by 6.8% compared to the previous fiscal year. Total expenses for the quarter were recorded at Rs 1,946.3 crore, reflecting a 6.51% rise. Total income, including other income, increased by 6.74% at Rs 2,089.46 crore in Q2 FY27. The shares of ABD closed at Rs 692.

Indus Towers reported a 2.5% decline in consolidated net profit for the second quarter ended September 30. The company experienced a 4% increase in consolidated revenue, while EBITDA saw a slight rise of 0.4%. Tower and co-location bases grew by 5.6% and 5.9%, respectively, contributing to improved performance. Strong customer demand and cash generation were highlighted as key growth drivers.

Steel Authority of India Ltd announced a significant increase in consolidated net profit for the September quarter. The company reported a profit of Rs 1,750.47 crore, a substantial rise from the previous year. Revenue from operations also saw growth, reaching Rs 31,997.55 crore compared to Rs 26,704.17 crore last year. Total expenses rose modestly to Rs 29,913.65 crore from Rs 26,113.64 crore.

United Breweries Ltd experienced a nearly three-fold increase in net profit for the September quarter. The company's revenue from operations rose by 23.7 percent year-on-year, reflecting strong market performance. Premium volumes notably surged, particularly for Heineken Silver and Kingfisher Ultra, enhancing UBL's premium offerings. Total expenses also increased, but operating efficiency and cost control contributed to profitability expansion. UBL remains optimistic about future growth opportun

SBI Life Insurance recorded an 11 percent increase in net profit for the second quarter. The net profit reached Rs 549 crore compared to Rs 495 crore last year. Additionally, the companys net premium income grew by 8.17 percent to Rs 26,877 crore. This increase in profit and income highlights the companys strong financial performance in the current fiscal year. Shares of SBI Life closed at Rs 1,634.

Tata Capitals second-quarter net profit rose 51% year-on-year to Rs 1,660 crore, supported by higher interest income and loan growth. Assets under management increased 26% to Rs 3.08 lakh crore, while floating-rate lending adjustments and margin improvement remain key priorities.

Sensex and Nifty closed marginally lower as elevated crude oil prices and Fed uncertainty tempered sentiment. Smallcaps surged over 2%, midcaps gained over 1%, and market breadth favoured bulls, with 2,455 NSE stocks advancing.

Waaree Energies reported a 14.7% year-on-year profit decline to Rs 718.68 crore in Q2FY27, despite 23.9% revenue growth. Margin pressure persisted as the company acquired data centre subsidiaries, exploring diversification into AI and digital infrastructure.

Elon Musk has warned that over 200 neocloud companies may face significant challenges, including potential failures and consolidation. Despite high demand for AI computing capacity, rising credit costs impact the financial stability of these companies. Research firm Gartner anticipates that more than 80% of neocloud providers may cease independent operations by 2030. Tighter credit conditions could restrain excessive AI spending without affecting overall investment growth.

Policymakers at the US Federal Reserve opened a two-day meeting Tuesday to set interest rates, with markets expecting them to hold steady days ahead of crucial midterm elections. On Tuesday, markets put the probability of rates being held steady at near 90 percent, as per CME's FedWatch tool. aha/mjf

Advent International has successfully raised $30 billion, with $27 billion designated for its latest flagship fund. The new mid-market strategy has received over $3 billion in commitments since its launch in March. Advent plans to target equity investments between $100 million and $350 million in smaller companies across North America and Europe. Additionally, the firm has made significant investments in India, totaling over $5.6 billion across various sectors.

Advent International has successfully raised $30 billion for its global buyout and mid-market funds. The firm plans to invest significantly in India, expecting healthy GDP growth in the country. With recent investments including Yatharth Hospitals and Aditya Birla Housing Finance, Advent remains confident in the Indian market potential. The new fund is set to target various sectors including healthcare, technology services, and industrials.

Reliance Industries will announce its September-quarter results on October 30, alongside considering fundraising through non-convertible debentures. Investors will track performance across O2C, telecom, retail and energy businesses amid share price weakness and market uncertainty.

Meghan Markle, the Duchess of Sussex, is set to return to Australia in 2027 to appear on Junior MasterChef Australia. Her upcoming television project comes amid renewed attention on her estranged father, Thomas Markle, following allegations involving child sexual abuse material that he has denied. No date has been set for production, which will take place at Melbourne Showgrounds.

North Carolina has employed sheep for vegetation management in solar farms to reduce mechanical maintenance. This strategy began as an experiment in 2016 and has expanded significantly since then. A study showed higher organic matter and soil health in grazed areas, though longer-term data is needed. Grazing costs can be competitive with mechanical methods over extended periods. The solar energy sector is growing, necessitating sustainable management solutions like sheep grazing.

Six BSE 500 stocks hit fresh 52-week highs despite the Sensex closing nearly flat. International Gemological Institute led monthly gains at 19%, followed by PVR Inox, Acutaas Chemicals, Indian Hotels, Laurus Labs and Sona BLW.

JSW Infrastructure reported an 11 percent drop in consolidated net profit for the September quarter, with earnings falling to Rs 328.23 crore from Rs 368.81 crore the previous year. The company achieved total income of Rs 1,669.47 crore, while expenses rose to Rs 1,238.34 crore. Notably, cargo volumes from India operations grew by 8 percent year-on-year, reaching 29.4 million tonnes.

Sebi has extended the deadline for debenture trustees to comply with regulatory requirements by six months. The new deadline for compliance is now set for April 27, 2027. This extension was granted after receiving industry feedback about operational challenges faced by debenture trustees. The regulator is currently reviewing the regulatory framework related to debenture trustees through an Expert Working Group.

Raymond reported a significant increase in revenue from its aerospace and defence business, rising 72% to 139 crore. The company's overall income grew by 21% to 683 crore, indicating strong performance. Operating profit from the aerospace sector also rose to 29 crore with an impressive margin of 21%. Additionally, Raymond is investing in new plants to enhance production capacity and support future growth.

Indian equity benchmarks ended nearly flat on Tuesday, with the Nifty 50 slipping 0.02% and the Sensex falling 8 points amid elevated crude prices and caution ahead of the US Fed decision. Tata Consumer and Bharti Airtel led gainers, while Asian Paints and Coal India topped the losers list.

Tata Capitals September-quarter net profit surged 51% year-on-year to Rs 1,660 crore, driven by loan growth, higher interest income and lower provisions. Its loan book crossed Rs 3 lakh crore, while improving margins and asset quality strengthened profitability.

Vedanta Iron and Steel narrowed its Q2 FY27 loss to Rs 324 crore from Rs 477 crore a year earlier, while revenue declined 1.7% to Rs 2,742 crore. EBITDA rose 56% to Rs 83 crore, supported by improved steel realisations and efficiency gains. The company also reported record half-yearly pig iron production.

Shaktikanta Das highlighted the essential role of the BFSI sector in financing infrastructure and new manufacturing. He emphasized the need for funding micro, small and medium enterprises as well as agriculture. Das proposed utilizing digital financial channels for efficient credit underwriting and financial inclusion. The segment must adapt to support next-gen Digital Public Infrastructure and sustainable finance.

Raymond reported a 130% year-on-year jump in consolidated net profit to Rs 32 crore in Q2 FY27, while revenue rose 24.1% to Rs 655 crore. EBITDA increased 74.4% to Rs 75 crore, with margins expanding 336 basis points to 11.5%. The company has also proposed a name change to Raymond Aerospace, Defence & Engineering.

Paytm has reported a substantial increase in revenue, demonstrating the success of its existing business model. The company's EBITDA has improved due to efficient cost control and a strong merchant franchise. Financial services have significantly contributed to revenue growth, highlighting the diversity of its business operations. Global brokerages support the view that UPI-MDR will enhance, rather than define, future profitability.

WeWork Indias first-half FY27 net profit surged 149.5% to Rs 119 crore, while revenue grew 30.1% to Rs 1,466.7 crore. Capacity expansion, rising memberships, stronger cash flows and improved margins supported growth and strengthened its financial position.

Mazagon Dock Shipbuilders shares plunged 10% after the state-owned company reported a 54% year-on-year decline in Q2 FY27 net profit to Rs 344 crore. Revenue from operations fell 16.5% to Rs 2,446 crore, while margins contracted sharply. The company also declared an interim dividend of Rs 5 per share.

WeWork India reported a 149.5% year-on-year rise in first-half FY27 net profit to Rs 119 crore, while revenue grew 30.1% to Rs 1,466.7 crore. Capacity expansion, membership growth and improved operating margins supported performance. Operating cash flow strengthened, and the company shifted to a net cash position amid rising demand for flexible workspaces.

Despite a roughly 4% decline in the Nifty 50 and Nifty Microcap 250 over three months, 40 Nifty Microcap 250 stocks posted double-digit gains. PC Jeweller led the top 10 outperformers, with its share price surging 78%, followed by Sigma Advanced Systems at 57%.

In the July-September quarter, Maruti Suzuki India experienced a notable 26% decrease in net profit compared to last year. Still, revenue shot up by 26% year-on-year, totaling Rs 53,356 crore. Rising material and labor expenses grew total costs by about 30%, which hurt profit margins. Nonetheless, the company hit an impressive milestone with its highest quarterly sales volume of 6.97 lakh units.

Cipla reported a 35% year-on-year decline in second-quarter net profit to Rs 878 crore, with revenue and EBITDA also falling amid weaker North American sales. India revenue grew 12%, while US regulatory approval and a biosimilar partnership supported its product pipeline.

Amidst rising US Treasury yields and a depreciating rupee, multiple Indian banks, such as Canara Bank, PNB, and Bank of India, are delaying their dollar debt initiatives. The looming expiration of the Reserve Bank of Indias hedging facility in December adds further pressure to these institutions. Nevertheless, there remains a glimmer of optimism among certain banks regarding potential future dollar bond sales as market conditions evolve.

Bajaj Auto Q2 Results: Revenue grew 34% YoY to Rs 20,003 crore for the first time, doubling over the past three years. The company also reported EBITDA exceeding Rs 4,000 crore, a rise of over 37% from the year-ago period.

Karwa Chauth Gift Ideas: Looking for the perfect Karwa Chauth gift for your wife? From personalised jewellery and skincare hampers to romantic dinners, thoughtful keepsakes and weekend getaways, there are plenty of ways to make the occasion special. Whether you prefer a meaningful handmade present or a practical gift she can use every day, these unique Karwa Chauth gift ideas can help you choose something she will cherish.

GST officers cannot invoke fraud, wilful misstatement or suppression provisions merely because tax has not been paid or a discrepancy is found, the CBIC has clarified. Such provisions can be used only where there is specific evidence of deliberate intent to evade tax, and that evidence must be clearly set out in the show cause notice.

Ticks, especially the lone star variant, are becoming increasingly worrisome for those who enjoy the great outdoors. Studies point out that although deer herds influence tick populations, other factors are at play. A research effort in Connecticut demonstrated that reducing deer numbers led to a decrease in tick populations and Lyme disease instances. Moreover, the emergence of Alpha-gal Syndrome, associated with lone star tick bites, introduces additional health hazards.

Karnataka has officially published the final electoral rolls indicating 4.55 crore voters after the SIR process. The voter count decreased from 5,54,32,314 to 4,55,00,011, a decrease of 99.32 lakh voters. Among the final rolls, there are 2,25,40,493 male voters and 2,29,12,355 female voters recorded. Additionally, there are 2,841 third-gender voters included in the statistics. The data also notes that over 6.83 lakh voters belong to the 18-19 age group.

Public sector banks are experiencing stronger net interest margin growth compared to their private counterparts this quarter. Despite facing margin pressures, private banks continue to show growth in profits and loan portfolios. The rising costs associated with funding and foreign currency deposits are impacting private banks' profitability. Corporate loan advances are increasing faster than retail loans across multiple private institutions.

Anthropics IPO filing highlights an unusual risk for investors, warning that its AI technology could pose catastrophic or existential risks to humanity if developed or deployed without adequate safeguards. According to Axios, more than 90 pages of the prospectus are devoted to risk factors, including concerns about AI misuse, weaponisation and autonomous systems.

Revenue from operations dropped 2.4% YoY to Rs 7,404 crore in Q2FY27