Rediff

Digital authentication services company eMudhra has announced its decision to exit the global SSL/TLS certificate business after a vulnerability was discovered in the security keys issued by its certification authorities, leading to a 20 per cent drop in its shares.

Jio Platforms Ltd's Rs 30,213-crore initial public offering (IPO) has garnered bids worth Rs 3.73 lakh crore, achieving a subscription rate of 5.57 times the shares on offer, driven by robust institutional and anchor investor demand.

The Indian rupee depreciated by 43 paise to close at 94.81 against the US dollar, influenced by a negative trend in domestic equity markets, surging crude oil prices, and significant foreign institutional investor outflows.

Apple's highly anticipated and most expensive foldable smartphone, the iPhone Duo, has completely sold out its first week's stock in India through pre-bookings, ahead of its official sale date of October 23. This strong demand, particularly at Apple Stores in Mumbai and New Delhi, signals a significant entry into the premium foldable market.

J and K Bank MD and CEO Amitava Chatterjee defended the surcharge on UPI transactions above Rs 2,000, stating it is necessary for the system's long-term sustainability. He also discussed the shift of household savings to mutual funds, the bank's profit growth, and India's consumption-based economy.

Indian equity benchmarks Sensex and Nifty extended their losses for a third consecutive session, with the Sensex declining 460.30 points and the Nifty dropping 123.70 points, primarily due to surging crude oil prices driven by escalating tensions in West Asia and weak global cues.

Cortex DC, a company of The Chatterjee Group (TCG), announced its entry into the data centre market with plans to develop 2 GW of AI-ready capacity across India over the next seven years. The initiative aims to meet the growing demand for high-performance computing, targeting hyperscalers, cloud service providers, and advanced AI workloads with a focus on speed, scale, and sustainable power.

Air India has commenced construction of a new multi-facility Maintenance, Repair, and Overhaul (MRO) hangar at Delhi's Indira Gandhi International Airport. This nine-acre facility aims to centralise engineering and maintenance activities, enhancing fleet upkeep, improving reliability, and reducing aircraft ground time for the Tata Group-owned airline.

The Indian rupee has achieved its longest winning streak in nearly eight years, appreciating for eight consecutive sessions to close at a six-week high. This rally is attributed to strategic central bank interventions, healthy foreign capital inflows linked to the Jio Platforms IPO, and profit-taking in the US dollar.

IT services firm Tech Mahindra has announced a collaboration with AI coding platform SpaceXSI to help global enterprises modernise legacy applications, accelerate software delivery, and improve developer productivity through AI-assisted engineering across the software lifecycle. The partnership aims to embed AI intelligence across the software development lifecycle for better business outcomes, focusing on sectors like technology, telecommunications, and banking.

The Reserve Bank of India's Monetary Policy Committee (MPC) has indicated that rate cuts are improbable in the near term, with headline inflation projected to reach 6 per cent in the third quarter. Minutes from the October meeting reveal growing concerns among members about inflation spreading beyond food and fuel, leading to a shift in policy stance towards calibrated tightening.

Indian Hotels Company Ltd (IHCL) is set to achieve its target of 700 hotels by fiscal year 2027, significantly ahead of its original 2030 goal, driven by strong financial performance and strategic expansion plans, including the merger of Oriental Hotels Ltd.

Indian equity benchmarks Sensex and Nifty experienced a decline in early trade, primarily due to a sell-off in power and metal stocks, mirroring a broader downturn across Asian markets. Elevated crude oil prices and firm US bond yields further dampened investor sentiment, while an expert warned of an impending correction in overvalued mid and small-cap segments. Track Sensex, Nifty on October 22.

Luxury car buyers in India are spending lakhs -- and sometimes crores -- to make their cars truly their own, turning personalisation into a growing business opportunity for automakers.

'The Indian market has struggled over the past two years.' 'It peaked in September 2024, and although it has moved up and down since then, investors have not really made money.'

India's food regulator, FSSAI, has issued notices to Nestle India, Abbott Healthcare, Nutricia International, Mead Johnson Nutrition (India), and social media influencer Ira Fathima for 'illegal' advertising and promotion of infant milk substitutes on Instagram.

A foreign brokerage predicts that private investments in Indian AI startups are rapidly growing, with potential listings adding up to USD 100 billion to India's market capitalisation over the next two to five years. Goldman Sachs reported a tripling of PE investment in Indian AI startups in 2025 and highlighted India's rising global rank in AI funding and new AI companies.

HDFC Bank has initiated an internal enquiry into the alleged leak of confidential information by two senior executives, with investigators examining whether the disclosed information was misused.

Jio Platforms Ltd's Rs 30,213-crore initial public offering (IPO) achieved full subscription within 100 minutes of opening, making it the fastest among India's mega issues, surpassing previous records set by companies like Reliance Power.

India's core infrastructure industries recorded a significant growth of 7.9 per cent in September 2026, up from 3.1 per cent in the previous year, primarily fuelled by robust performances in iron ore, electricity, and cement production.

Jio Platforms Ltd's Rs 30,213-crore initial public offering was subscribed 3.01 times, attracting approximately Rs 66,500 crore in public bids, with qualified institutional buyers oversubscribing their portion by 9.02 times, while retail investor demand remained under-subscribed at 0.68 times.

Indian equity benchmark indices extended losses for a second consecutive session, with the Sensex dropping 143 points, driven by a sell-off in power, banking, and financial stocks, coupled with elevated crude oil prices and persistent FII selling.

HCLTech, India's third-largest IT services company, reported robust Q2 revenue growth of 2.3 per cent in constant currency, driven by services and ER and D segments, with strong new deal wins of $3.3 billion and significant traction in its AI business. Despite exceeding margin estimates and raising revenue guidance, some brokerages remain cautious due to the stock's premium valuation compared to peers.

Karmayogi Bharat and OpenAI have signed an MoU to enhance AI capacity development across India's civil services. This partnership aims to equip government personnel with AI skills through the iGOT Karmayogi platform, fostering confident and responsible AI use for improved public outcomes and a future-ready civil service under Mission Karmayogi.

Jio Platforms Ltd's (JPL) public offer, valued at Rs 30,213 crore, was fully subscribed within 100 minutes of opening, making it the fastest-ever subscribed IPO in India, driven by strong institutional demand.

More patients can now afford semaglutide, but the early excitement around the drug is fading.

'... but runs with the rigour and discipline of a large enterprise.'

Indian equity benchmarks Sensex and Nifty rallied up to 1 per cent in early trade, driven by strong performance in IT stocks, Reliance Industries, and favourable global market sentiment, rebounding from previous losses.

Investors who bought attractively valued IPOs and held on have earned strong returns, particularly when the money raised went into companies rather than into the pockets of exiting shareholders.

The Qualified Institutional Buyers (QIBs) portion of the Jio Platforms IPO was fully subscribed at over 2x demand within minutes of its issue opening on Wednesday, indicating strong institutional interest in India's largest public issue.

Mid and smallcap mutual fund schemes in India have quadrupled their assets under management (AUM) to 10 trillion in five years, driven by strong investor inflows and market gains, with experts anticipating continued growth despite mixed valuations.

New Zealand Prime Minister Christopher Luxon stated that the historic Free Trade Agreement with India, now in effect, will help grow both economies, allowing Kiwi businesses to reach over a billion more customers with significantly reduced tariffs, leading to 'more jobs and higher wages for Kiwis'.

Akash Ambani is leading Jio Platforms' initial public offering (IPO), set to be India's largest, with a strategy that includes appealing to regional investors and drawing parallels to his grandfather Dhirubhai Ambani's historic public listing of Reliance Industries.

Cognizant and Google Cloud have announced an expanded partnership to accelerate the adoption of agentic AI, forming a new 'Gemini Frontier Capability Group'. This initiative combines Google's AI platform with Cognizant's expertise to help enterprises deploy resilient, production-grade AI agents and drive business value. The group will focus on areas like legacy modernisation and cyber defence, with Cognizant also scaling Gemini internally.

Avenue Supermarts (DMart) reported lower-than-expected Q2FY27 performance, with revenue growth of 18.4 per cent year-on-year but visible margin pressure, leading to a 4.5 per cent stock drop. The company faces challenges from lower-margin sales, operating cost pressures, and aggressive store expansion, impacting profitability despite improved same-store sales growth.

Sir Dorabji Tata Trust has submitted its response to governance complaints filed by two trustees, with the Maharashtra charity commissioner expected to decide the next course of action.

Adani Group-controlled Mumbai International Airport Ltd (MIAL) has reiterated that airlines must decide whether to shift flights to Navi Mumbai, temporarily suspend operations at Mumbai airport, or pursue other alternatives from the summer 2027 schedule due to Terminal 1's redevelopment.

The lack of faster growth in salaried jobs may well account for the degrowth in the unemployed educated population who are actively seeking jobs.

A 27-year-old man was arrested by Kashigaon Police in Thane for allegedly calling the Delhi Police control room and threatening to destroy India's economy. The accused, Nikhil Sudarshan Sharma, who appeared mentally unstable, was apprehended after tracking his mobile number.

Uttar Pradesh Chief Minister Yogi Adityanath announced the state's ambitious shift from mobile phone assembly to advanced microchip manufacturing, data centres, and artificial intelligence. He highlighted significant investments and growth in the digital economy, attributing the transformation to the double-engine government's alignment with national initiatives like 'Make in India' and 'Aatmanirbhar Bharat'. Adityanath also criticised previous administrations for hindering the state's potential

Maharashtra Governor Jishnu Dev Varma has advocated for a bamboo-based economy to drive sustainable development, create rural livelihoods, and offer green alternatives to plastic. Speaking at a summit, he highlighted bamboo's crucial role in climate change mitigation, its potential to empower local communities, and its benefits for farmers.

'Wages have not risen. Rural wages have stagnated. The growth was 0.7 per cent last year. For casual and irregular labour, the wage growth is negative.'

Union Home Minister Amit Shah lauded UPI on its 10th anniversary, highlighting its role in India's digital transformation. Launched by NPCI in 2016, UPI has become the world's largest real-time payment system, witnessing a massive surge in transaction volume and value, demonstrating its success in empowering people with swift, seamless, and secure digital transactions.

'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'