Jio Platforms Ltd, the digital services arm of Reliance Industries, has become the second most valuable Indian company by market capitalisation following a highly successful debut on the Dalal Street, with its shares closing 26.66 per cent higher than the issue price.
Noel N. Tata will retire as chairman and director of Trent Ltd on November 11, after nearly three decades with the Tata Group retailer. Bahram Vakil has been appointed as his successor, effective November 12, in a leadership transition aligning with Tata Group Governance Guidelines.
India's drug price regulator, NPPA, has revised downward the maximum retail price of 543 anti-cancer medicines, effective November 9. This follows an announcement enforcing trade margin rationalisation on 137 non-scheduled anti-cancer drugs, leading to significant price drops for several key brands.
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.
A Delhi court has upheld cheating and criminal conspiracy proceedings against M3M India Pvt Ltd and its promoters in an alleged Rs 450-crore land fraud case. The case involves allegations by MGF Developments Ltd regarding a land exchange deal where M3M allegedly failed to pay the full consideration. While criminal breach of trust charges were set aside, the court directed the trial court to proceed expeditiously on cheating and conspiracy charges.
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.
A Mumbai sessions court has denied anticipatory bail to three film production executives accused of misappropriating over Rs 3.92 crore during the making of the upcoming film "Naagzilla". The court cited prima facie material and the necessity of custodial interrogation for a detailed investigation into allegations of bypassing Standard Operating Procedures, inflating bills, and taking commissions.
Nepal has banned the import, sale, and distribution of Priyagold biscuits, citing them as sub-standard. This decision follows India's food regulator FSSAI initiating legal proceedings against the manufacturer, Surya Food and Agro Ltd, for using cattle feed bran and other serious violations, and suspending its licence.
Indian stock markets witnessed a significant rally, with the Sensex soaring 905 points and the Nifty topping 22,900, primarily driven by strong buying in banking and FMCG shares, coupled with easing crude oil prices and a US Fed rate pause.
Morgan Stanley has upgraded One 97 Communications Ltd (Paytm) to Overweight, significantly raising its price target to Rs 1,950. This upgrade is driven by expectations of stronger execution in payments and financial services, leading to faster growth and improved profitability. The brokerage anticipates substantial revenue and EBITDA growth, further bolstered by potential changes to the UPI merchant discount rate framework.
One 97 Communications Ltd, operating Paytm, reported a significant 10-fold increase in profit after tax to Rs 225 crore in Q2 FY27, marking its sixth consecutive profitable quarter. The company also saw a 28% rise in operating revenue to Rs 2,648 crore, driven by strong performance in merchant and consumer businesses, expanded monetisation, and AI adoption. Paytm's EBITDA margin reached double digits for the first time, reflecting enhanced operating profitability.
PCBL Chemical Ltd's subsidiary, Nanovace Technologies Ltd, has formed a new wholly-owned subsidiary, Nanovace Advanced Materials Ltd, to focus on advanced battery materials and next-generation energy storage technologies for various sectors including electric vehicles and consumer electronics.
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 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.
Jio Platforms Ltd's initial public offering (IPO), anticipated to be India's largest, is scheduled to open for subscription on October 21 and close on October 23, with reservations for employees and Reliance Industries Ltd shareholders.
Indian benchmark equity indices, Sensex and Nifty, closed lower for the fourth consecutive session, driven by a surge in crude oil prices above USD 114 per barrel due to escalating tensions in West Asia, coupled with broad-based selling and FII outflows.
Shares of Jio Platforms, the digital services arm of Reliance Industries, made a stellar debut on the stock exchanges, surging over 21 per cent against its issue price, pushing its market valuation past Rs 12.50 lakh crore and making it India's second most valuable firm.
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.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 48,056 crore from Indian equities in October, driven by elevated crude oil prices, Middle East tensions, inflation concerns, and weak corporate earnings, though selling pressure moderated towards the end of the month.
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.
The Indian government has approved the sale of a 60.72 per cent stake in IDBI Bank Ltd to Canadian billionaire Prem Watsa's Fairfax Financial Holdings Ltd for approximately 52,878 crore, a move that reflects improving India-Canada ties and marks a significant turning point for the bank.
The Digital News Publishers Association (DNPA) has informed the Supreme Court that newsrooms will be forced to shut down if journalists are required to seek permission before publishing information under the Digital Personal Data Protection (DPDP) Act and its accompanying Rules. The Supreme Court has issued notices to the Union ministries of Law and Justice, and Electronics and Information Technology (MeitY) on the DNPA's petition.
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.
The Reserve Bank of India has opened a special dollar window for three public sector oil marketing companies (OMCs) to meet their daily dollar requirements, aiming to curb the rupee's depreciation amidst global economic uncertainty. Additionally, the RBI has introduced new regulatory measures for the foreign exchange market, including reducing the threshold for derivative transactions without underlying exposure and introducing a Foreign Exchange Risk Reserve (FERR).
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, primarily driven by strong buying in Reliance Industries and sustained foreign fund inflows. Adani Ports also emerged as a significant gainer after reporting an 18 per cent rise in consolidated net profit. Track Sensex, Nifty on October 29.
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.
The retail portion of Jio Platforms' initial public offering (IPO) was fully subscribed within two hours on the second day of bidding, with overall subscription reaching 3.47 times by 11:00 am on Thursday.
A powerful magnitude 7.0 earthquake struck China's Tibet region on Thursday, resulting in at least 16 fatalities and 54 injuries. The quake, with its epicentre east-northeast of Nagqu city, caused significant damage, including the collapse of 339 houses, and led to the suspension of train services. Rescue operations are underway, with Chinese President Xi Jinping calling for all-out relief efforts.
Reliance Industries Ltd (RIL) has publicly welcomed competition from Elon Musk's Starlink in the satellite communications sector, asserting that all players, including Jio, must abide by Indian laws and policies.
Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, is poised to launch India's largest-ever initial public offering (IPO) at Rs 30,213 crore, surpassing Hyundai Motor India's Rs 27,870-crore offering.
Jio Platforms, the digital arm of Reliance Industries Ltd (RIL), is launching its initial public offering (IPO) with a price band of 1,065-1,119 a share, aiming to make RIL a net-debt-free company and create long-term shareholder value.
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.
FMCG giant Hindustan Unilever Ltd (HUL) reported a steady consolidated net profit of Rs 2,796 crore in the September quarter of FY27, despite a higher base from a one-off tax gain in the previous year. The company's revenue from product sales surged by 14.77 per cent to Rs 18,037 crore, driven by a strong underlying volume growth of 7 per cent.
Mukesh Ambani fought back tears as his three children, Akash, Isha, and Anant Ambani, took the stage at the stock market listing of Jio Platforms Ltd, marking an emotional moment that signals the next generation's readiness to lead one of India's largest corporate empires.
Lithium-ion battery recycling firm NAN Silox GreenMet Pvt Ltd has appointed Vijay Pasupathy as its Chief Executive Officer. The company is advancing plans to establish a Rs 1,400-crore critical metals recycling facility in Naidupeta, Andhra Pradesh, aiming to boost domestic capabilities in processing recovered critical metals and reduce reliance on imports.
At 44, James Anderson will extend his playing career as captain and co-owner of Napoli Knights in Italy's Italia T10 league, helping develop home-grown talent ahead of cricket's Olympic ambitions.
The CBI has filed a closure report in the 2002 disinvestment of Hindustan Zinc Ltd, stating that allegations of irregularities could not be substantiated. This comes despite a 2022 Supreme Court directive by then-CJI D Y Chandrachud to register a regular case, citing sufficient material and concerns over undervaluation and the role of a global advisor. The special court will now decide on the report.
The Economic Offences Wing (EOW) of the Crime Branch Jammu has filed a chargesheet against two individuals, Manoj Kumar and Vikram Singh, in a financial fraud case involving over Rs 1.22 crore collected from investors in Samba district. The accused allegedly induced residents to invest in schemes from unregistered or de-registered NBFCs, promising high returns but failing to deliver.
Info Edge (India) Ltd, the parent company of Naukri.com, is undergoing a significant leadership change as founder Sanjeev Bikhchandani prepares to return as managing director and group chief executive officer. This transition follows Hitesh Oberoi's decision to step down from his executive roles after nearly 27 years with the company, though he will remain on the board as a non-executive, non-independent director.
Coal India Ltd (CIL) has refuted claims by NTPC Ltd regarding critically low coal stocks, stating it has met and exceeded its contractual supply commitments to the power producer. CIL reported supplying 97 million tonnes to NTPC and its joint ventures during April-September of FY27, a 5% increase year-on-year.
