Foreign Portfolio Investors (FPIs) have withdrawn Rs 44,166 crore from Indian equities in October, pushing the total outflows for the year past Rs 3 lakh crore, driven by elevated crude oil prices, a stronger US dollar, higher US bond yields, and the allure of AI-led rallies in North Asian markets.
The Fenesta Open National Tennis Championship has launched an Rs 11 lakh Player Development Scholarship. This initiative, supported by DCM Shriram Foundation, aims to nurture talent by providing financial aid to winners and runners-up across five singles categories, supplementing the existing prize money.
The Chhattisgarh Economic Offence Wing/Anti-Corruption Bureau (EOW/ACB) has filed its 10th supplementary charge sheet in the alleged liquor scam, accusing 20 individuals, including former state Congress treasurer Ramgopal Agrawal, and 22 firms. The 27,000-page document details illegal liquor production, hawala transactions, and investment of illicit proceeds. The scam, estimated by the ED to be between 2019 and 2022, involved a complex network of illegal liquor sales, duplicate holograms, and routing of funds.
The process agreed on Tuesday will require MIAL to first build stakeholder agreement on the transition before taking the plan through the regulatory approval process.
The Delhi High Court on Monday turned down the Enforcement Directorate's plea to maintain a status quo on properties attached in the National Herald money laundering case involving Congress leaders Sonia Gandhi and Rahul Gandhi. Justice Sachin Datta stated he would not pass an interim order and would decide the agency's petition challenging a trial court's refusal to take cognisance of its chargesheet. The ED argues that the accused are using the trial court order to release properties, while the Gandhis contend the ED's plea is an "abuse of process of law."
Jindal Supreme (India) Ltd's initial public offering, a manufacturer of plastic piping solutions, was subscribed an astounding 181.07 times on its final day, reflecting robust investor demand across all categories.
Elon Musk, CEO of SpaceX, stated that Starlink's services in India must be affordable for widespread adoption and that competition would benefit consumers, despite potentially reducing Reliance Jio's profits. He criticised Reliance Jio as a 'de facto monopoly' in India, alleging that certain business conglomerates were blocking Starlink's entry.
The initial public offering (IPO) of auto components maker Hero Motors Ltd was fully subscribed on its first day of bidding, receiving bids for 1.38 times the shares on offer, with strong interest from retail investors.
A textile company director in Thane was allegedly defrauded of Rs 20.58 crore by five individuals who promised to secure loans for factory expansion and government uniform supply contracts. The accused reportedly misused financial documents and misappropriated funds.
Karnataka authorities conducted a three-day statewide crackdown on illegal diversion of subsidised Public Distribution System (PDS) foodgrain, seizing 5.65 lakh kg of rice and 24 transport vehicles worth a total of Rs 4.76 crore. Six criminal cases have been registered against nine individuals, and two officials have been suspended for dereliction of duty.
Atomic Energy Commission Chairman Ajit Kumar Mohanty announced that India's private sector is projected to invest Rs 7.5 lakh crore and contribute 30 GW towards the nation's goal of achieving 100 GW nuclear power capacity by 2047. This marks a significant policy shift, facilitated by the SHANTI Act, encouraging private participation in nuclear energy beyond the traditional public sector model. The country is also exploring Small Modular Reactors (SMRs) for industrial needs and advancing its three-stage nuclear power programme, leveraging its substantial thorium reserves.
The Maharashtra Food and Drug Administration (FDA) has cancelled the drug sale and distribution licences of Cipla Pharma & Life Sciences Ltd's carrying and forwarding (C&F) warehouse in Pune. This action follows alleged violations related to packaging, storage, documentation, and recall of Reactin Plus Tablets, a Schedule H drug. The FDA cited issues like misbranding, inadequate storage conditions, and deficiencies in record-keeping, reiterating its commitment to ensuring medicine safety and compliance.
Andhra Pradesh Police have arrested a naval staffer and a civilian driver in connection with an alleged espionage conspiracy involving Pakistan Intelligence Operatives, raising serious national security concerns.
Global payments solution major Mastercard has fully exited Indian fintech firm Pine Labs, selling its entire 4.31 per cent stake for Rs 933 crore through block deals on the BSE.
IndiGo will have 74 of its 224 weekly international departures affected while Air India will relocate 33 of its 100 departures.
The Indian stock market experienced a significant downturn, with the Sensex crashing over 1,000 points and the Nifty hitting a fresh 52-week low, driven by sustained selling from foreign institutional investors, the RBI's monetary policy tightening, and elevated Brent crude prices.
The Supreme Court advised actor Rajpal Yadav to make good movies and entertain people to rebuild his image, as it acknowledged his payment of Rs 1.15 crore in a long-running cheque-bounce case. The court also noted a prospective buyer for his property willing to deposit Rs 85 lakh. Yadav expressed financial losses from his film 'Ata Pata Laapata' and the impact on his career.
Reliance Industries Ltd (RIL) has successfully raised a total of Rs 25,000 crore through domestic bond issues in September, including a recent Rs 13,000 crore 10-year bond at 7.90 per cent, as it prioritises funding certainty amidst expectations of a possible RBI rate hike and rising borrowing costs.
Even as lawyers on both sides study the pros and cons of a court battle, there are unanswered questions: When did Tata Trusts review its resolution of 2025 on backing Chandrasekaran for a third term?How will the shareholders of Tata Sons respond on listing and the leadership issue?
Indian equity benchmark indices, Sensex and Nifty, extended their losses for a second consecutive day, driven by elevated crude oil prices, persistent foreign institutional investor (FII) outflows, and high US Treasury yields.
Six initial public offerings, including Rentomojo Ltd and Karamtara Engineering, were fully subscribed on their final day of bidding, with Rentomojo's IPO subscribed 72.88 times and Karamtara's 62.63 times, reflecting robust investor appetite in the primary market.
How India's Jumbo King Is Taking On McDonalds And Burger King Without Selling Chicken Burgers.
Tata Trusts, the majority shareholders of Tata Sons, have proposed merging two operating companies, Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE), with Tata Sons. This restructuring aims to shed Tata Sons' classification as a non-banking financial company (NBFC) and a core investment company (CIC), thereby allowing it to retain its status as an unlisted private company and resolve ongoing disputes regarding its future ownership.
Indian benchmark indices Sensex and Nifty extended their losses for a third consecutive day, driven by firm crude oil prices, elevated global bond yields, and significant foreign fund outflows, making investors cautious.
The Airline Operators Committee has questioned the basis for shifting 33 per cent of international services to Navi Mumbai International Airport.
The Supreme Court has strongly criticised actor Rajpal Yadav for his failure to deposit money as per an undertaking in a long-running cheque-bounce case. The court expressed displeasure over the non-compliance despite previous directives and warned of serious consequences, including potential jail time, if the payment is not made promptly.
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline, with the Sensex tumbling 1,247.71 points and the Nifty settling below 23,100, primarily driven by a significant spike in crude oil prices and weak global market trends.
Mumbai International Airport is set to reduce 265 weekly international flights from October 25 to facilitate the redevelopment of Terminal 1. This move, impacting 46 airlines including IndiGo and Air India, has raised concerns among carriers and global aviation bodies like IATA, who advocate for collaborative planning over mandated relocations.
Shares of fintech firms, particularly Paytm, saw significant movement after the Indian government introduced a 0.4 per cent fee on UPI transfers exceeding Rs 2,000 made to merchants, effective October 15.
Anup Saha, currently a Wholetime Director at Kotak Mahindra Bank, has been appointed as the new Managing Director and Chief Executive Officer for a three-year term, effective January 1, 2027, with the Reserve Bank of India's approval.
Coal inventories at India's thermal power stations have fallen to 22.9 million tonnes, providing only a seven-day fuel cover and affecting 74 out of 190 plants, a situation last seen in October 2023.
Hyundai Motor India Ltd (HMIL) is set to launch a localised mass-market SUV built on a dedicated EV platform, expanding its EV portfolio beyond the IONIQ 5 and CRETA Electric, while also significantly boosting its charging infrastructure and training its workforce.
Sandeep Mistry, a key associate of fugitive businessman Nirav Modi, has been arrested by the CBI after his deportation from the UAE. Mistry is implicated in the Rs 6,498.20 crore Punjab National Bank scam, where he allegedly facilitated forged documents, coerced dummy directors, and siphoned funds. He has been remanded to judicial custody.
The Enforcement Directorate has attached fresh assets worth Rs 442 crore belonging to online gaming company Gameskraft and its app RummyCulture, bringing the total frozen assets in the money laundering probe to Rs 2,843 crore. The agency alleges the company used bots to defraud users and generated proceeds of crime through platform commissions.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
India has initiated anti-dumping investigations into imports of Glycine from China, following a complaint by Avid Organics, alleging material injury to domestic manufacturers. Concurrently, a separate anti-circumvention probe has begun concerning CPVC resin from China and South Korea, suspected of being routed through Malaysia, Japan, and Thailand to avoid existing duties.
Shares of the National Stock Exchange of India Ltd (NSE) climbed nearly 1 per cent on their trading debut, reaching a market valuation of Rs 4,53,123 crore, following a significantly oversubscribed initial public offering.
Noel Tata, chairman of Tata Trusts, has presented a proposal for the Shapoorji Pallonji (SP) group to sell its 18.37 per cent stake in Tata Sons for approximately 25,000 crore, aiming to address the SP group's liquidity needs without a public listing of Tata Sons.
A letter sent by the Sir Dorabji Tata Trust to Venu Srinivasan, Tata Trusts vice-chairman and nominee director on Tata Sons, a day before the Tata Sons board meeting on September 17, is at the centre of deliberations.
Listing, according to Noel Tata, will fundamentally change how the company and the group have been working over the past 150 years.
