Jio Platforms makes its market debut on Wednesday after a $3.1 billion IPO, an Indian record. Its grey market premium has hovered at about 22% over the issue price for roughly 10 days, which Bloomberg calls unusually resilient for an offering this size. The unofficial market has been very consistent.
Read more at Business Standard →
The Sensex slipped 8.08 points to 73,598.67 and the Nifty lost 3.45 points to 22,749.75 on Tuesday, after a volatile session with profit taking in IT and banks, high crude and caution before the Fed. Foreign investors bought shares worth ₹4,240 crore. A lot happened to arrive nowhere.
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Defence shares rose on Tuesday after the Defence Acquisition Council cleared acquisition proposals worth ₹2.12 lakh crore, covering tracked guns, helicopters, drones and ship decoys. Data Patterns, BEML and Unimech gained over 9%. Aequs and Mazagon Dock went the other way, falling up to 10% after their Q2 results.
Read more at BusinessLine →
Infosys was downgraded by at least four brokerages on Monday, including Axis Capital, Arihant Capital and IIFL Capital, after it cut its FY27 sales forecast, Bloomberg data show. Three more cut ratings over the weekend, taking its consensus rating to 3.7 out of 5, the lowest since January 2024.
Read more at Business Standard →
India's crude import basket averaged $120.46 a barrel in October up to the 26th, against $116.77 in September and $90.19 in August, as the West Asia conflict raised insurance and freight costs. It is the highest monthly average since March 2012. On October 26 alone it was $123.72.
Read more at BusinessLine →Tata Consumer Products closed 6.78% higher at ₹1,000 after consolidated Q2 profit rose 16% to ₹469.30 crore. Standalone profit fell 14.9% on 17% higher revenue. Goldman Sachs kept its buy rating and cut its target to ₹1,325 from ₹1,440. Everyone liked the quarter, some a little less.
Read more at BusinessLine →United Breweries, controlled by Heineken, reported Q2 consolidated net profit of ₹134.81 crore, up 191% from ₹46.34 crore a year ago. Revenue rose 23.7% to ₹4,623 crore on volume growth, price increases and premiumisation, with Kingfisher sales up 44%. The premium segment did the heavy lifting.
Read more at Mint →Ola Electric shares rose 16.3% to ₹34.80 on Tuesday, their biggest one-day gain since April, with no immediate fundamental trigger. About 345 million shares traded, 3.2 times the weekly average. The stock is still down about 4% for the month after Goldman Sachs and others downgraded it.
Read more at Mint →OneSource Specialty Pharma shares rose nearly 14% to a three-week high of ₹1,589 after Q2 revenue rose 37% year on year to ₹516.2 crore, its third straight quarter of sequential growth. EBITDA rose 53% to ₹163.3 crore. The stock has now recovered 50% from recent lows.
Read more at Mint →Steel Authority of India reported Q2 FY27 net profit of about ₹1,750 crore, against ₹418.72 crore a year earlier. Revenue from operations rose to ₹31,997.55 crore from ₹26,704.17 crore. SAIL is India's largest public sector steelmaker, with over 20 million tonnes of annual capacity.
Read more at The Economic Times →Nippon Life India AMC's Q2 net profit fell 6% to ₹324.37 crore, mainly because of a ₹96.76 crore exceptional item tied to Sebi settlement proceedings. Operating profit rose 20% to ₹546.56 crore. Blended yields compressed to 37 bps. It declared an interim dividend of ₹9.50 a share.
Read more at scanx.trade →Indus Towers' Q2 net profit slipped 2.5% to ₹1,793 crore, because the year-ago quarter had a ₹195 crore write-back on doubtful receivables. Revenue rose 4% to ₹8,516 crore and its tower base grew 5.6% to 2,70,480. Pre-tax return on equity fell to 25.3% from 38.4%.
Read more at The Economic Times →Reliance Industries said its board will consider Q2 results on October 30, along with raising funds through non-convertible debentures on a private placement basis. It did not disclose the amount. Investors want to see its O2C, telecom and retail numbers after a mixed June quarter.
Read more at The Economic Times →Indian mutual funds bought Reliance Industries worth ₹4,605 crore in September, the most of any large cap, Value Research data show. NSE came second at ₹3,171 crore, followed by HDFC Bank. Swiggy and Gland Pharma topped mid and small cap buying. Fund managers mostly bought banks, pharma and tech.
Read more at Mint →
The Nasdaq rose 1.18% and the S&P 500 0.60% on Tuesday, while the Dow added 0.05%. Buzz around Anthropic's coming IPO helped chip stocks gain for a third session. The Philadelphia semiconductor index is still more than 20% below its June 22 record. A relief rally, as advertised.
Read more at The Economic Times →
The Federal Open Market Committee announces its decision on Wednesday at 2 pm local time, followed by a press conference from Chair Kevin Warsh. In September it raised rates for the first time in three years. Inflation has missed the Fed's two percent target for more than five years.
Read more at The Economic Times →
Boeing shares fell up to 10% after it said it would miss its target of 500 737 Max deliveries this year. It now plans 52 a month in the second half of 2027, a target once set for end-2026. The CEO said doing it right matters more than the month.
Read more at The Economic Times →
Traders have built long positions in Treasuries during a recent haven rush, and hawkish messaging from Fed Chair Kevin Warsh could force a painful unwind, Bloomberg reports. Citigroup's David Bieber said the market flipped into longs tactically even though it remains structurally short. Positioning has opinions too.
Read more at Mint →
General Motors will transfer its stock listing from the NYSE to Nasdaq and expects to start trading there on November 17, keeping its existing ticker. The carmaker has a market value of around $64.4 billion, according to LSEG data. The ticker stays put, the building changes.
Read more at The Economic Times →NYSE plans binary return options that pay $1 or nothing at expiry, starting within days on 12 underlying securities including Apple, Nvidia and Tesla. Chief product officer Kevin Tyrrell told Reuters there is a lot of interest in newer ways to trade. Yes or no, now listed.
Read more at The Economic Times →Active private markets firms peaked 18 months ago and are falling as more become zombies unable to raise another fund, Arctos CEO Ian Charles said. He said 57% of the $3 trillion raised for buyout funds from 2018 to 2023 sits in funds that may earn no carried interest.
Read more at Mint →Galaxy Digital CEO Michael Novogratz said anxiety in credit markets over AI spending is near its peak. 'We have indigestion in the credit market,' he said on Galaxy's results call. CoreWeave's junk bond yields recently surged to distress levels. CoreWeave is a major tenant of Galaxy's Helios facility in Texas.
Read more at Mint →Bitcoin rose above $87,000 over the summer and has slipped back to around $80,000. Polymarket bets put the odds of $100,000 by year end at 17%. Buyers from the past two years break even at about $87,000 and have been selling into rallies. Breaking even is a strategy now.
Read more at Mint →The London Metal Exchange began trading a contract settled against a Shanghai Futures Exchange price, the first time the SHFE has made a metals price tradeable on another exchange. An LME spokesperson said over 550 lots traded early on. A steel trader said acceptance will not happen overnight.
Read more at The Economic Times →Corporate bond liquidity is broadening in the US and Europe as more individual blue-chip bonds trade. A company's top three bonds made up about 35% of its trading volume this month, five points below January 2023, Barclays strategist Zornitsa Todorova said. High-yield trading remains concentrated in a few issues.
Read more at Mint →
Indian Overseas Bank reported Q2 net profit of ₹1,912 crore, up 56% from ₹1,226 crore a year earlier, as interest income rose 17% to ₹9,201 crore. Gross NPAs improved to 1.19% of advances from 1.83%. Its shares traded 4.56% higher at ₹30.01.
Read more at Business Standard →
Net interest margins at select public sector banks rose 10 basis points sequentially to 2.58% in Q2, while private banks stayed flat at 3.29%, a CareEdge Ratings analysis shows. ET says foreign currency deposits are temporarily weighing on private lenders. Private banks still have the higher margin.
Read more at The Economic Times →
Sebi is expected to release a consultation paper on relaxing rules that make large or concentrated FPIs disclose granular investor details. Proposals include a low holding threshold below which no details are needed, and exemptions for concentrated stakes in professionally run companies without promoters and in PSUs.
Read more at The Economic Times →
Bandhan Bank 'categorically' denied speculation about acquisition discussions with First Abu Dhabi Bank. Its shares were up 2.32% at ₹154.50. The lender has a ₹1.56 lakh crore loan book, ₹1.65 lakh crore of deposits and 31.8 million customers. The denial was firm, the share price less so.
Read more at The Economic Times →
Sebi whole-time member K V R Murty said retail derivatives trading may need more guardrails, given the jump in activity on expiry days. Speaking at the Business Standard BFSI Insight Summit, he said Sebi wants to make risks clear so investors can make informed decisions.
Read more at Business Standard →Sebi extended the deadline for debenture trustees to move activities outside its purview into separate business units by six months, to April 27, 2027. The rule, under Regulation 9C, came through amendments notified on October 27, 2025. The deadline arrived on its anniversary and left again.
Read more at Business Standard →'Dynamic pricing works in the airline industry, not in insurance,' IRDAI chairman Ajay Seth said, adding that digital platforms should let buyers compare prices without personal details. The regulator has proposed reducing and capping commissions, and paying the same commission on ported policies as on renewals.
Read more at The Economic Times →RBI Governor Sanjay Malhotra told the 36th Conference of State Finance Secretaries that states should adopt prudent borrowing strategies, efficient cash management and quality spending for long-term fiscal health. Finance secretaries of 27 states and three Union Territories attended. He also urged better use of State Level Bankers' Committees.
Read more at The Hindu →RBI Deputy Governor Poonam Gupta said India's real GDP growth would have exceeded 8% but for external shocks over the past three years. She said India has grown over 7% in an 'inconducive environment', and a better global backdrop could add up to one percentage point quickly.
Read more at BusinessLine →Regional rural banks will set up cybersecurity centres, build threat intelligence and run regular penetration testing, bank executives told ET. 'As new AI models pose a threat to the banking system, it is important that RRBs are also geared up,' one said. Fraud risk systems are planned too.
Read more at The Economic Times →The RBI proposed in August to bar NBFCs from offering revolving credit unless they can issue credit cards. Tata Capital MD Rajiv Sabharwal said on the Q2 earnings call that the portion it could not convert to standard term loans comes to 3 to 4% of its assets under management.
Read more at deccanchronicle.com →The Bombay High Court upheld the RBI's eviction of three companies from its Amar Building in Fort, citing security concerns flagged by the Intelligence Bureau, Mumbai Police and the RBI. Their tenancy dates to 1930, before the RBI bought the building in 1947. They get four weeks of interim relief.
Read more at mumbaimirror.com →Former RBI Governor Shaktikanta Das said the BFSI sector must 'pivot from simple corporate lending to long-term capital formation'. He wants it to fund much of the National Infrastructure Pipeline through consortiums and corporate bonds, and to back high-tech manufacturing including semiconductors and advanced electronics.
Read more at The Economic Times →Citibank India CEO K Balasubramanian told ET that foreign investors return only for disproportionate returns, and Indian returns have not been that. 'India doesn't have too much to show on AI,' he said, so no new foreign capital is coming in until the global AI story changes.
Read more at The Economic Times →
PhonePe CEO Sameer Nigam told the Business Standard BFSI Insight Summit he wants to take UPI to a billion Indians over the next 10 years. He questioned proposed market share caps on UPI apps and backed the merchant discount rate. Six hundred million is a lot of left.
Read more at Business Standard →
Paytm told investors in its Q2 commentary that a UPI merchant discount rate would add incremental upside, and that its existing business already generates profit. J.P. Morgan said cost control and the merchant franchise helped Paytm reach EBIT breakeven. MDR is welcome, but it is not the plan.
Read more at BusinessLine →
Cross-border payments platform Skydo received final authorisation from IFSCA to operate as a payment service provider at GIFT City, after in-principle approval in May 2026. It plans multi-currency accounts, merchant acquiring and collections, and payment infrastructure for exporters, investing platforms and trade finance firms.
Read more at bfsi.economictimes.indiatimes.com →
India's fintechs have at least ₹30,600 crore and possibly over ₹33,600 crore of IPOs lined up, Tracxn data show, including PhonePe, Razorpay, Navi, InCred, Fibe, InsuranceDekho and Upstox. Uncertainty over the merchant discount rate and choppy markets are pushing firms to rethink timelines and valuations.
Read more at BusinessLine →
New York-based Mochatrade, which offers tokenised US equities to traders in India, raised a $6 million seed round led by CoinFund, with Coinbase Ventures and Y Combinator taking part. Users can go long or short with up to 50x leverage in rupees at any hour. Margin is not optional.
Read more at fintech.global →Nevis, launched in October 2024 by former Revolut executives, raised a $70 million Series B led by EQT Ventures to build AI software that takes paperwork off financial advisors' plates. Fortune reports a $500 million valuation. Charles Schwab joined as a strategic backer. Advisors are scarce, agents are not.
Read more at Fortune →SoFi Technologies shares rose 11% to $16.11 after a record lending quarter, an earnings beat and a raised full-year outlook. Robinhood and Affirm rose about 2% each. 24/7 Wall St. says the gap shows a split in how the market reads rates. Lending remains a fintech's oldest feature.
Read more at 24/7 Wall St. →Prediction market Kalshi will start traders aged 18 to 20 with a $2,500 monthly deposit limit and will alert new traders with balances above $1,000 who put more than 25% into one trade. Critics say such platforms resemble gambling. The advice to diversify now comes from a prediction market.
Read more at The Economic Times →IIIT Hyderabad and the National Payments Corporation of India signed an MoU on October 24 to collaborate on cybersecurity research and train professionals to tackle threats to digital payments. IIIT-H's Cyber Manthan Centre will lead the work. NPCI CEO Dilip Asbe said growing payments need continuous innovation.
Read more at deccanchronicle.com →Representatives of Binance, BitDelta India and CoinSwitch, with an EY India tax partner, told the Business Standard BFSI Insight Summit that India needs regulatory clarity and a tax regime that fits how digital assets are traded. The session was titled 'Taxed but Not Trusted'. The title said most of it.
Read more at Business Standard →Nigerian fintech OPay's F-1 filing for a New York listing, made on October 9, shows it had no broad-based employee equity incentive programme until April 2026. That has raised questions about how staff shared in its growth. OPay employed 992 people as of June 30, 2026.
Read more at techinafrica.com →Hyphenate, which calls itself an autonomous finance platform for the office of the CFO, raised a $45 million Series A led by Nexus Venture Partners, with B Capital joining, according to its release on Finextra. The next wave of finance AI, it says, 'is taking responsibility for the work itself.'
Read more at Finextra →Visa and Mastercard face two proposed UK class-action lawsuits seeking billions of pounds over allegedly unlawful consumer card fees, Finextra reports. Only the teaser of the report was available to us.
Read more at Finextra →Anthropic announced the next phase of Claude for Financial Advisors, adding integrations with FINNY, Jump and Conquest that bring prospecting, client meeting context and financial planning tools into Claude, according to its release on Finextra. The advisor, it seems, will now mostly talk to Claude.
Read more at Finextra →
The RBI set the premature redemption price for SGB 2020-21 Series I at ₹14,159 a gram for October 28. That is a gain of nearly 209% for investors who subscribed online at a discount in April 2020, so ₹1 lakh grew to about ₹3.09 lakh. Gold did all the work.
Read more at Mint →
The RBI raised the repo rate by 25 basis points to 5.50% on October 7. SBI raised its external benchmark linked rate to 8.15% from 7.90% from October 15, lifting costs for linked home loans. Mint explains the hidden cost of moving back to a cheaper loan.
Read more at Mint →
PhonePe launched Tatkal NPS, which lets users open a National Pension System account digitally with contributions from ₹250, using existing bank KYC and a one-time OTP. The Walmart-owned firm says it wants to democratise long-term retirement planning. Retirement now fits in a payments app.
Read more at Business Standard →
The PFRDA has pushed the start of revised Point of Presence charges for NPS and NPS Lite from October 1 to December 1, 2026, in a circular dated October 26. The charge structure was announced on August 28. The deadline passed before it was moved.
Read more at The Economic Times →
The Karnataka High Court upheld 2007 and 2008 amendments to the Employees' Pension Scheme, 1995, rejecting retirees who said the changes cut their monthly pensions. A bench of Chief Justice Vibhu Bakhru and Justice C.M. Poonacha ruled on October 14. Mint explains what it means for EPFO pensioners.
Read more at Mint →A Labour Ministry notification dated October 15 says the government will contribute 1.16% of EPS members' wages only up to ₹15,000 a month, even though the wage ceiling is now ₹25,000. That keeps the government's share capped at ₹174 a month. The ceiling moved, the contribution stayed home.
Read more at The Economic Times →From November 1, owners of non-commercial vehicles who live within 20 km of a toll plaza and regularly cross it can buy an annual concessional FASTag pass at a fixed fee, under an October 26 amendment to the highway fee rules. Living near the toll plaza finally has an upside.
Read more at The Economic Times →The Jaipur bench of the Income Tax Appellate Tribunal deleted a ₹13.04 lakh addition over cash deposits by a man who got ₹16 lakh from his mother after she sold her gold jewellery. It ruled that a notarised gift deed, witnesses and a registered valuer's report made the gift credible.
Read more at Mint →An investor's ₹4.41 lakh grew into sale proceeds of over ₹92 lakh in 16 months. The ITAT's Mumbai bench upheld additions of nearly ₹94.80 lakh to her income, ruling that bank statements, demat records and contract notes did not prove the trades were genuine.
Read more at Mint →Non-residents and Indians with overseas assets, including UAE property, are getting income tax nudge notices to declare them under FAST-DS 2026. ET says the notice is neither a demand nor an accusation, but proceedings may follow if issues are not fixed. A nudge, with a follow-up implied.
Read more at The Economic Times →Business Standard reports rising repayment delays and tighter renewal rules on gold loans, and warns against using them to manage existing debt. Its example is a borrower who took three personal loans, pledged jewellery to pay the EMIs and now faces a bullet repayment due in November.
Read more at Business Standard →No equity mutual fund delivered negative SIP returns over five or seven years, an ETMutualFunds analysis found. Quant Small Cap Fund led the seven-year list at 24.59% and Bandhan Small Cap Fund the five-year list at 18.08%. Shriram Flexi Cap Fund had the lowest returns in both. Patience remains undefeated.
Read more at The Economic Times →Banks added the second-highest number of credit cards in September this year as they geared up for the festive season, with only July marginally ahead at 1.27 million. HDFC Bank and Axis Bank added 539,878 cards between them, nearly 43% of the total. The festive season starts in the wallet.
Read more at The Economic Times →Herd mentality, fear of missing out and the chase for quick returns are among the biggest risks for Gen Z investors, experts said at the Business Standard BFSI Insight Summit. They warned that easy access to investing information does not translate into better decisions.
Read more at Business Standard →Banking and markets roles checked today, fintech included. Every listing links to the original posting. Salary negotiation sold separately.
Upcoming fintech festivals and finance summits, each checked against its own page this morning. Lanyards are not an asset class.
It sits on your phone like an app and has never once asked for an update.
iPhone