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Indian equities rose more than 1 per cent on Thursday as investors bought companies with positive September quarter results, Business Standard reports. Easing crude prices, hopes of US Iran talks and foreign buying helped, with realty and FMCG leading.
Read more at Business Standard →
Provisional data shows foreign institutional investors were net sellers of Rs 943.60 crore on Thursday, after net buying of Rs 871.83 crore on Wednesday. Domestic institutions bought a net Rs 1,924.41 crore, CNBC TV18 reports.
Read more at CNBC-TV18 →Indian companies raised a record Rs 40,355 crore through 32 mainboard IPOs in September, SEBI's bulletin shows. Total fundraising rose 22 per cent to Rs 1,68,372 crore, and offers for sale made up 75 per cent of IPO proceeds.
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The Nifty rose 1.05 per cent to 22,936 on Thursday, breaking above 22,800 after a volatile consolidation and recovering from a long subdued spell. After a muted start, buying at lower levels lifted the index through the session, CNBC TV18 reports.
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On closing day BLS Polymers' IPO was subscribed 241.22 times, while SFC Environmental Technologies drew a more modest 9.47 times, with non institutional investors showing the strongest demand in each, BusinessLine reports.
Read more at BusinessLine →Promoter Sagility BV, which held 50.95 per cent at the end of September, is likely to sell about 12 per cent through a block deal, the Economic Times reports. The shares closed at Rs 44.69, down 1.17 per cent.
Read more at The Economic Times →Most frontline Adani group stocks rose 3 to 6 per cent on Thursday after Adani Enterprises and Adani Ports reported strong September quarter earnings, Business Standard reports, against a 1 per cent gain in the Sensex.
Read more at Business Standard →Equitas Small Finance Bank MD and CEO P N Vasudevan resigned three months after his term was extended to July 2029, citing investor concerns over his daughter's association with an NBFC weighing on the stock. He stays until a successor arrives.
Read more at Business Standard →NSE has flagged brokers for inadequate margins on margin trading facilities, funding ineligible securities, mishandling client funds and weak oversight of authorised persons. The industry's MTF book hit a record Rs 1.49 lakh crore in September.
Read more at BusinessLine →SIP accounts rose 11.9 per cent to 10.89 crore in September, while the average SIP fell to Rs 2,984 a month, Franklin Templeton India says. Aggregate SIP flows grew from Rs 43,921 crore in FY17 to Rs 3.49 lakh crore in FY26.
Read more at The Economic Times →Jefferies says a possible cut in long and short term capital gains tax would encourage foreign portfolio investors to return and support the rupee. The government would have to weigh revenue loss and its aim of uniform taxation across assets.
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Alphabet shares fell as much as 13 per cent on Thursday to $280, as Wall Street was disappointed by its search advertising business and continued cash burn from AI infrastructure spending, Mint reports. It would be its worst one day drop since listing.
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All three major US indexes fell on Thursday, with the Nasdaq dragged down by megacaps after Alphabet's results, as investors weighed big tech's AI spending, inflation data and the Fed's decision, Reuters reports. The Russell 2000 rose 0.8 per cent.
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The loonie rose to 1.3982 per US dollar on Thursday after touching 1.3966, its strongest since 16 September, as the start of a Bank of Canada tightening cycle narrowed the yield gap with the US, Reuters reports.
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The Fed kept its rate at 3.75 to 4 per cent in a 10 to 2 vote, with Lisa Cook and Beth Hammack backing a 25 basis point rise. BusinessLine says that keeps worries about global liquidity and foreign flows into India alive.
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Raw sugar rose 0.7 per cent to 19.47 cents per lb as more El Niño linked rain was forecast in Brazil, where centre south output fell 27.1 per cent in early October, Reuters reports. Arabica coffee hit a one month low.
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A bench led by Chief Justice Surya Kant called digital arrest the biggest financial fraud on the economy and proposed directing banks to compensate victims and face prosecution where poor due diligence enabled it. It said the RBI was soft pedalling.
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The Supreme Court refused to direct SEBI to mandate full public disclosure of ultimate beneficial owners of alternative investment funds and foreign portfolio investors, saying such an order needs an existing legal framework of regulations.
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The United Forum of IDBI Officers and Employees says the sale is ill timed and may undervalue the bank. Convener Devidas Tuljapurkar asked the government to disclose its valuation method and assumptions, the Economic Times reports.
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From 1 November, fund houses must make direct plans the default for investments through their websites, and tell regular plan investors about higher expense ratios, SEBI chairman Tuhin Kanta Pandey said, BusinessLine reports.
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PNB has suspended 12 employees after a branch staffer allegedly used the manager's password for unauthorised transfers from customer accounts, the Economic Times reports. The bank puts the loss below Rs 10 crore, under social media claims of Rs 35 crore.
Read more at The Economic Times →Axis Bank will cut free cash transaction limits on select domestic and NRI savings accounts, including EASY ACCESS, KRISHI and SAHAJ, and change reward points and relationship value rules from 1 December, the Economic Times reports.
Read more at The Economic Times →Karnataka Bank's September quarter net profit rose 37 per cent to Rs 435.8 crore, and total income reached Rs 2,794 crore. Aggregate business hit a record Rs 2,07,132 crore, the Times of India reports.
Read more at The Times of India →Bandhan Bank reported Q2 FY27 net profit of Rs 621.75 crore against Rs 111.87 crore a year earlier, with total income from operations up to Rs 6,458.42 crore from Rs 5,900.27 crore, Kalkine reports.
Read more at kalkine.co.in →A Business Standard column notes the RBI mobilised over $140 billion through its dollar rupee swap schemes from 8 June, leaving over Rs 14 trillion of durable liquidity and pushing the call rate below the corridor, then absorbed about Rs 2 trillion in September.
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Credit card spending fell 5.9 per cent year on year to Rs 2.04 trillion in September, the first decline since February 2021, Business Standard reports. Analysts cite a high base after GST rate cuts and early festive spending last year.
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The RBI recognised fintech self regulatory body UFF is developing a framework and code of conduct for technology service providers and RegTech firms on governance, cybersecurity and resilience, which could become de facto accreditation, the Economic Times reports.
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CoverGo, an AI native platform for health, life and P&C insurers, raised $6 million in the first close of its Series B1, led by Betatron Venture Group with returning and new investors, FinTech Global reports.
Read more at fintech.global →
Blockchain Capital led PhotonPay's $40 million Series C, with SBI Group joining. PhotonPay, which had $65 billion in annualised volume in August, will invest in multi asset wallets, card issuing, local clearing and tools for AI driven transactions.
Read more at Crypto Briefing →
FinMaq, founded in 2014, finances machinery and equipment for small businesses and independent workers in Colombia. Accion led the $6.5 million round with Mundi Ventures, ALIVE Ventures and 30N Ventures, LatamList reports.
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Government pensioners must submit life certificates by 30 November, at a bank, through Jeevan Pramaan or by doorstep post, CNBC TV18 notes in its list of November changes covering tax returns, GST rules and mutual funds.
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Key dates include 7 November for depositing TDS and TCS from October, 15 November for issuing specified TDS certificates and 21 November for ITR filing by certain taxpayers, including audit and transfer pricing cases, CNBC TV18 reports.
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From 1 December, SBI Card will charge 1 per cent on every transportation transaction above Rs 30,000, along with new charges on high value fuel purchases, according to a 27 October notice, the Economic Times reports.
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Across the five largest midcap funds, a Rs 5,000 monthly SIP in the direct plan ended 10 years with Rs 66,194 to Rs 1,09,050 more than the regular plan, thanks to lower expense ratios, Upstox calculates.
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The 3 point dearness relief hike announced on 28 October takes DR to 63 per cent for central government pensioners under OPS and UPS, including family and commuted pensions, the Economic Times reports, with sample calculations.
Read more at The Economic Times →Department of Pension office memorandums dated 27 October clarify Unified Pension Scheme contribution rules for central employees during probation, suspension, deputation and periods of absence from duty under the 2025 rules, the Economic Times reports.
Read more at The Economic Times →The Economic Times explains how tax on gains from physical gold, gold ETFs, fund of funds and Sovereign Gold Bonds depends on the type of investment and holding period, as many people trade gold around Dhanteras and Diwali.
Read more at The Economic Times →Policybazaar data shows term insurance bookings among high net worth individuals have doubled since April 2023 and average sum assured is up 30 per cent. Fewer than 5 per cent choose plans that return premiums, Mint reports.
Read more at Mint →A Mumbai consumer commission ordered Soundlines Eco Homes to refund Rs 45.45 lakh with 9 per cent interest, about Rs 86.37 lakh in total, to a buyer who never got possession of a Panvel flat, plus Rs 75,000 costs.
Read more at Mint →The Chennai ITAT set aside a Section 271D penalty on a salaried taxpayer who took a cash advance while selling his house during demonetisation, holding his housing loan pressure was reasonable cause, Mint reports.
Read more at Mint →The Chandigarh ITAT ruled for Meena Garg, whose timber trading proprietorship tax authorities had treated as a benami concern of a family firm, saying the department failed to show a link between the two, Mint reports.
Read more at Mint →Business Standard says there is no single best credit card, and a 5 per cent cashback card may not beat one that pays for holidays or hotel stays. The right choice depends on how you spend, and you may not need another card.
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.