▫️ Bharti Airtel accepted moratorium on AGR, spectrum payments. The telecom giant will enjoy cash relief of around ₹40,000 crores.
▫️ Govt. warned power distribution companies to honour their dues on time.
▫️ Online investment and valuation fund Groww raised $251 million at a valuation of $3 billion.
▫️Large public sector enterprises (like NHAI, Railways, NTPC, IOC, ONGC, etc.) have achieved 37% of their FY22 capex target till September.
▫️RPSG Group gets new IPL Team (Lucknow) for ₹7,090 crores.
▫️ Telecom operators have asked DOT to extend 5G trial timeline by 6 months.
▫️Jio 4G likely to be launched on Diwali, will target 30 crore 2G user base of India.
▫️ Tech Mahindra acquired London based WMW to boost its digital capabilities. Further, the Company also bought digital engineering quality assurance provider Lodestone.
▫️Tech Mahindra posted 16.1% revenue growth and 26% profit growth, year-on-year in September quarter. The Group experienced high attrition rate of 21% during the quarter.
▫️ Ceat’s net profit fell by 77% during Q2, year-on-year, due to high input costs. The company announced issuance of ₹500 crore debt securities.
▫️Wipro sets up 25,000 sq.ft in aerospace SEZ.
▫️Hero electric to expand its sales network.
▫️JSW Steel will open ₹150 crore stewl unit in J&K.
▫️Deepak Fertilizers raised ₹510 crores via sale of shares to institutional investors.
▫️ Global banking giant HSBC posted 74% jump in net profit, owing to release of cash reserves during September quarter.
▫️ Rising covid cases in Northern China, has forced the authorities to reinforce lockdown in several counties
▫️Non-food credit growth during Oct 8 fortnight, slowed down marginally to 6.53% from 6.75% in the previous fortnight ended.
▫️NSE surpassed 5 crore registered investors.
▫️ Nomura has dowgraded Indian Equity markets to Neutral from Overweight, citing high valuations.
▫️PM launched ₹64,000 crores mega health infrastructure mission.
▫️Mastercard opened its platform for crypto services in the US.
▫️ Airports record 8.7% growth in passengers in September, compared to August.
▫️ Corporate India experienced 14% rise in employment in September quarter.
▫️ Sensex and Nifty ended the 4 day loosing streak, as 10.8% rise ICICI Bank helped the indices to end in positive territory.
▫️ Sensex ended 0.24% higher at 60,967 and Nifty was up by 0.06% at 18,125.
▫️Market breadth was negative with 437 advances against 1408 declines. Midcap and Smallcap indices fell around 2%.
▫️ Banking, Financial Services and Healthcare stocks helped the market to rise. While Auto, Consumer Durables and FMCG dragged the bourses.
▫️Ruppee fell by 18 paise to 75.08, due to unprecedented rise in crude oil prices.
▫️Gold prices crossed 48,000 mark due to firm overseas trend and fall in ruppee.
▫️ Tight supply and soaring demand, led WTI Crude Oil to reach record high above $85 mark in yesterday’s trading session. However, higher output from Oman cooled down the prices today, and WTI Crude is currently trading at $83.7.
▫️Dow Jones ended positive yesterday, as US corporate earnings showed significant economic recovery.
▫️ Today morning US futures continue to trade positive, along with healthy asian markets. SGX Nifty is trading with gain of 70 points .
▫️Stocks in Ban: ESCORTS, IBULHSGFIN, IEX, NMDC, SAIL and SUNTV.
▫️Key results today: Axis Bank, Kotak Mahindra Bank, Central Bank, Canara Bank, ABB India, Cipla and Bajaj Finance.
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