The Economic Times

Sensex and Nifty ended lower on Wednesday as investors booked profits after the previous sessions rally, with caution ahead of US inflation data weighing on sentiment. Market participants will track global cues, crude oil prices, foreign investor flows and stock-specific developments on Thursday, alongside buying and selling trends across key counters.

The organisers of the Vedanta Delhi Half Marathon have announced changes to the race routes for safety reasons. The starting point of the Open 10K will now be Jawaharlal Nehru Stadium instead of Sansad Marg. Minor adjustments have also been made to the half-marathon route due to recent protests. The organisers are preparing to share further details with participants regarding race-day arrangements.

Gianni Infantino will chair the FIFA Council meeting that is set to address his controversial leadership. Discussions will include financial proposals and disciplinary issues affecting FIFA's operations and reputation. As the presidential election approaches, Infantino faces significant challenges from European and North American critics. FIFA plans to distribute additional funds to member federations to counter opposition claims.

A recently identified dinosaur species named Invictibellatrix amberina was discovered on the Isle of Wight. The discovery marks the first evidence of megaraptorans in Europe, dated to about 120 million years ago. The dinosaur is believed to have hunted small prey and measured three to four metres in length. Researchers used CT scans to confirm its unique anatomical features and identify it as a new species.

The Modi government is set to sell a 60.72% stake in IDBI Bank for 52,878 crore. This sale will surpass previous disinvestment efforts, making it the largest to date. Notably, the government has executed 13 strategic disinvestments over the last decade. Previous notable disinvestments include Air India and multiple power sector companies. These actions highlight the ongoing commitment to privatization and fiscal consolidation.

The government has simplified the procedure for obtaining import authorisations for specific silver items. This change should help genuine applicants receive approvals more quickly and efficiently. Import authorisations will only be available for purchases made through the India International Bullion Exchange or specified banks. Existing applicants will have the chance to revise pending applications using this new process.

Donald Trump approval ratings in some states were sliding to negative from the positive that is recorder earlier in 2026. Republicans are retreating from a handful of battleground U.S. House races, while Democrats are racing to raise money to boost candidates who seemed like long shots earlier this year.

Kamala Harris is embarking on a campaign tour to support Democratic nominees in key states. She will visit Nevada, Mississippi, New Hampshire, Wisconsin, and Georgia from October 21 to 30. Harris's tour highlights various historic candidates, including potential first Black governors and senators. In Georgia, she will participate in events aimed at voter protection and engage with progressive activists.

Canada aims to finalize a Comprehensive Economic Partnership Agreement with India by the end of this year. Foreign Minister Anita Anand emphasized the need for diversifying trade partnerships beyond reliance on the United States. Indian trade negotiators recently visited Canada as both nations work to strengthen economic ties. A significant uranium supply agreement between Cameco and India illustrates growing cooperation between the two countries.

Jio has set the price band for its much-awaited IPO at Rs 1,065-1,119 per share. At the lower end of the price band, Jio Platforms could raise Rs 28,755 crore. At the cap price of Rs 1,119, the IPO size would rise to about Rs 30,213 crore.

Akash and Isha Ambanis birthday on October 23 coincides with the closing day of Reliance Jios Rs 30,000 crore IPO. The listing marks a milestone for the telecom and digital business, which the twins have helped shape since its early years, as Jio prepares to enter Indias public markets.

Jio Platforms will open its Rs 30,000 crore IPO for subscription on October 21, with anchor investor bidding scheduled for October 19. The issue could become Indias largest-ever public offering, surpassing Hyundai Motor Indias record IPO. Here are 10 key details on issue size, dates, shareholder quota, financials and valuation.

Canara Bank reported an 8.4% year-on-year rise in second-quarter net profit to Rs 5,175 crore, supported by higher net interest income and improved asset quality. Net interest income grew 20.4% to Rs 11,005 crore, while lower provisions helped earnings. Global advances rose 19.5%, outpacing deposit growth.

Kumar Mangalam Birla announced plans to invest $30 billion over the next two to three years. This investment will target businesses both in India and internationally, reflecting the group's global operations. The Aditya Birla Group will allocate $5 billion for a new aluminum recycling plant in Alabama. Birla acknowledged that geopolitical issues complicate investment decisions and have changed strategies.

Jio Platforms has filed its red herring prospectus (RHP) for an IPO of up to 27 crore equity shares, setting the stage for what could be Indias largest-ever public issue. Anchor investor bidding will begin on October 19, 2026, followed by the public issue opening on October 21

Jio IPO: Reliance Jio has filed its red herring prospectus for an October 21-23 IPO, set to be Indias biggest public issue. The offering comprises 27 crore fresh shares, with reservations for Reliance Industries shareholders and employees. The company plans to use most of the proceeds to repay borrowings, while investors assess its valuation.

Bajaj Consumer Care reported a 66% year-on-year rise in Q2FY27 net profit to Rs 70.2 crore, while operating income grew 25.4% to Rs 332.8 crore. EBITDA surged 71% to Rs 83.3 crore. Domestic business revenue grew over 30%, and the companys shares have rallied 96.42% in 2026 so far.

Stocks Sena, a venture co-founded by Krishna Singhal and Pushan Jain, has unveiled an innovative research platform aimed at empowering Indian investors. This website equips users with financial data and stock screening capabilities, granting access to primary-source company disclosures without any subscription fees. Notably, AI tools are designed to simplify complex earnings calls, enhancing comprehension of key financial insights.

The government will retain a 15% equity stake in IDBI Bank and Life Insurance Corporation will hold 19%. Both the government and LIC will withdraw their nominees from the bank's board and become public shareholders. The Cabinet Committee on Economic Affairs has empowered the Alternative Mechanism for minority stake sales of the government's holdings. LIC will manage its residual shareholding as per internal procedures and regulatory compliance.

Seven BSE 1000 stocks touched fresh 52-week highs despite the Sensex closing lower on Wednesday. West Coast Paper Mills led the list with a 32% monthly gain, followed by Dynamatic Technologies, Cyient DLM and Aditya Infotech.

Sebi has proposed a sweeping overhaul of SME IPO regulations, including market capitalisation-based eligibility thresholds, higher profitability requirements, lower minimum application values and changes to allotment norms. The proposals also cover underwriting, market making, lock-in periods and migration to the main board. Public comments are invited until November 4, 2026.

Indian equities closed lower on Wednesday as investors booked profits ahead of key US inflation data. The Nifty 50 fell 0.44% to 22,623, while the Sensex declined 0.34% to 72,782. Nestle India and Infosys led Nifty gainers, while Shriram Finance and HDFC Life topped the losers list.

Tata Technologies has reported an 4% increase in profits year-on-year for the second quarter of FY27, with its operating revenue soaring 28% to Rs 1,699 crore. The net income for this quarter stood at Rs 171 crore, indicating a healthy growth. Additionally, the company announced several key deal wins, which bolster its market position.

HDB Financial Services Q2 Results: HDB Financial Services reported a 34% year-on-year rise in Q2FY27 net profit to Rs 780 crore, while revenue from operations grew 10% to Rs 5,005 crore. The company also declared an interim dividend of Rs 2 per share. Its shares fell over 4% ahead of the earnings announcement on Wednesday.

The Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to a Fairfax Group arm, Union Minister Ashwini Vaishnaw said. The government and Life Insurance Corporation of India will retain a combined 34% stake in the restructured entity. Vaishnaw called it Indias largest financial-sector FDI.

Ten Nifty 500 stocks have fallen between 47% and 58% over the past year, significantly underperforming the broader market. KEC International, Reliance Power and KPIT Technologies lead the list of laggards, as nearly 50 stocks in the index have declined more than 30% during the period.

Mamata Banerjee condemned the arrest of Cockroach Janata Party leaders by Delhi Police for alleged trespassing. She expressed solidarity with the youth, assuring them of her support against government oppression. Banerjee highlighted the need to protect democratic rights and accused the government of silencing dissent. Opposition leaders from various parties also criticised the government's actions regarding the arrests.

Mizoram plans to enhance tourism's contribution to its economy by leveraging cultural and natural assets. The government is executing tourism infrastructure projects worth over Rs 681.16 crore to support this initiative. Targeting to welcome 10 lakh visitors by December 31, local benefits are prioritized alongside visitor numbers. Various tourism events are scheduled to attract a diverse range of tourists throughout the year.

Foreign investors have sold over Rs 5 lakh crore of Indian equities since the 2024 capital gains tax hike, with outflows intensifying in 2026. Finance Minister Nirmala Sitharamans comments on LTCG and STT have revived hopes of tax relief, but analysts remain divided on whether any rejig can trigger a sustained FII comeback.

Indian companies are increasingly relying on bank loans as corporate bonds and other borrowing sources become more expensive, with banks accounting for 81% of fresh credit between November 2025 and August 2026, according to Jefferies. Bank credit growth rose to 18% in August, led by corporate borrowing, while non-bank credit growth slowed to 10%.

Commerce and Industry Minister Piyush Goyal stated that India seeks to improve relations with China, ensuring fair deals. Bilateral trade between India and China reached USD 127.7 billion, which reflects significant growth in exports and imports. Furthermore, Goyal expressed concerns regarding the widening trade deficit and tightened FDI policies due to geopolitical tensions. India experienced supply chain vulnerabilities during Covid, leading to a focus on self-sufficiency.

A viral advertisement by the Australian Hotels Association uses exaggerated scenes to illustrate how the departure of migrant workers could affect everyday life, from coffee shops and supermarkets to restaurants, hotels and elderly care. The video emerges amid a political debate over immigration levels in Australia and proposals to reduce migration.

Hyundai Motor Group plans to invest $15.5 billion in India over the period of 2026 to 2032. This initiative aims to strengthen local manufacturing and expand research and development facilities. Attracting global interest, especially with competitors like Toyota and Suzuki also enhancing their footprint, Hyundais success hinges on optimizing logistics and harnessing skilled labor for maximum output.

Indian families keep just 14% abroad, global peers 30-40%: Prithipal Singh on going global

Bharat Heavy Electricals Limited has announced a remarkable jump in net profit for Q2, surging 120.1% year-on-year to reach Rs 810 crore, up from Rs 368 crore last fiscal year. Additionally, revenue from operations increased by 23.8%, totaling Rs 9,300 crore. These figures showcase BHEL's strong financial performance, highlighting notable growth and operational success in this quarter.

India's Nifty 50 index faces considerable challenges this year, with a significant drop since January. In contrast, stocks linked to artificial intelligence have thrived, attracting investor interest and increased foreign ownership. Companies are investing in the foundational infrastructure for AI, anticipating a fourfold rise in data center capacity by 2029. However, experts warn that lofty valuations could pose risks for future earnings.

Astranova Mobility's lending subsidiary, Novafusion Capital, receives approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Institution (NBFC). The firm targets 5000 crore in assets under management (AUM) over the next five years, focusing on India's transition to electric mobility. The company highlights the country's requirement of $100 billion to transition its commercial vehicles to electric mobility.

Despite Nifty and Sensex tumbling over 6% in September, small-cap and SME-focused PMS strategies delivered robust positive returns. Hem Securities' India Rising SME Stars scheme led gains at 7.23%, according to PMS Bazaar data, while broad mid-cap and thematic strategies suffered losses of up to 10.16%.

In a notable development, One 97 Communications Ltd., Paytm's parent company, observed a significant rise in domestic share ownership as of Q2 FY 2027. Indian investors now hold over 56% of the firm, which illustrates a positive trend towards local equity involvement. Furthermore, domestic institutional ownership has soared to 29.5%, reflecting heightened engagement from local institutional players. In contrast, foreign direct investment declined to 18.

Groww Q2 Results: The companys revenue from operations came in at Rs 1,501 crore, marking a 47% increase from Rs 1,019 crore posted in the corresponding quarter of the previous financial year.

GIFT Nifty plays a pivotal role as a futures contract that encapsulates overnight global market shifts. It is essential for estimating the daily opening position of the Nifty 50. Investors analyze the discrepancy between the current GIFT Nifty and its previous close to decipher market trends. Though it offers a directional hint, it is not a guarantee of market behavior.

Canara Bank has announced a standalone net profit of approximately Rs 5,175 crore for the second quarter of FY27, reflecting a growth of over 8% from the previous year. The bank also experienced a substantial increase in net interest income, surpassing Rs 11,005 crore, along with notable improvements in asset quality through a reduction in non-performing assets.

Global brokerage firm UBS maintained a Buy rating on CarTrade Tech with a target price of Rs 4,000, citing strong monetisation potential in its OLX India business. UBS expects OLX

IDBI Bank shares surged nearly 13%, adding over Rs 11,460 crore to its market capitalisation amid progress in the privatisation process. The bank reported strong Q2FY27 business growth, while JM Financial highlighted loan growth, deposit mobilisation and margin pressures across the banking sector.

Bank of Baroda shares fell over 3% to Rs 230.40 on Wednesday following reports that NMC Healthcare founder BR Shetty filed a $15 billion lawsuit against the lender in the Bombay High Court alleging fraud. Bank of Baroda clarified to exchanges that it has not yet been served.

Nexedge Capital has appointed Apurva Sahijwani, previously with Avendus Wealth Management, as co-founder to strengthen its leadership. It aims to utilise his experience for expanding its presence in India's wealth management sector. Nexedge Capital currently operates in 11 cities and advises more than 1,300 ultra-high-net-worth individuals and families.

AST SpaceMobile shares tumbled 8.5% on October 13 to close near $46.80 following a Piper Sandler downgrade triggered by intensifying competition from SpaceXs satellite network. Weak technical indicators and concerns over satellite launch constraints weigh on sentiment, making $46.47 a critical pivot level for a potential recovery.