BILKUL BAZAAR— The Daily News Wrap
Bilkul Bazaar
9 PM, 22 October – 9 PM, 23 October
National Business News Highlights
1. Jio Platforms IPO Attracts ₹3.73 Lakh Crore in Bids Reliance Industries’ digital and telecom arm received bids worth approximately ₹3.73 lakh crore, with its ₹30,213-crore IPO subscribed 5.57 times by the close of bidding.
2. India’s Private Sector Growth Hits Four-Month High The HSBC Flash Composite PMI rose to 56.7 in October from 55.9 in September, signalling stronger business activity led by the services sector.
3. Sensex and Nifty Face Broad-Based Selling Pressure Indian equity benchmarks declined during Friday’s trading session, with the Sensex falling around 545 points and the Nifty shedding approximately 228 points in morning trade.
4. Infosys Reports 6% Rise in Quarterly Net Profit Infosys reported a 6% year-on-year increase in second-quarter net profit to ₹7,823 crore and announced a dividend of ₹26 per share.
5. Adani Power Posts 134% Jump in Quarterly Profit Adani Power reported a 134% year-on-year increase in second-quarter profit to ₹6,919 crore, while revenue rose 45%.
6. Swiggy Narrows Quarterly Loss as Revenue Rises Swiggy’s consolidated net loss narrowed to ₹922 crore, while revenue increased to ₹7,571 crore, supported by growth in food delivery and quick commerce.
7. Hindustan Petroleum Swings Back to Profit HPCL reported a second-quarter net profit of ₹3,626 crore, compared with a substantial loss in the corresponding period last year.
8. Oil India Discovers Natural Gas in Krishna-Godavari Basin Oil India announced a natural gas discovery in the shallow offshore waters of the Krishna-Godavari Basin, with a peak test flow of 200,000 standard cubic metres per day.
9. Colgate-Palmolive India Reports Higher Quarterly Profit The FMCG company posted a 4.3% year-on-year increase in quarterly profit to approximately ₹341.6 crore, while revenue grew around 12.3%.
10. Nuvoco Vistas Records 79% Growth in Quarterly Profit The cement manufacturer reported a 79.2% rise in consolidated second-quarter profit to ₹65.3 crore, with revenue increasing to ₹2,790 crore.
International Business News Highlights
1. Global Technology Stocks Stabilise After AI Sell-Off Global technology shares showed signs of recovery after concerns about the enormous spending required for artificial intelligence infrastructure triggered sharp losses on Wall Street.
2. Crude Oil Climbs to Five-Month High Brent crude prices rose to around $114–115 per barrel amid concerns about Middle Eastern supply disruptions, increasing pressure on energy-importing economies.
3. Meta Shares Slide Amid AI Spending Concerns Meta Platforms shares fell sharply despite stronger-than-expected quarterly revenue, as investors assessed the company’s rising capital commitments and artificial intelligence investments.
4. European Natural Gas Prices Rise Sharply European natural gas prices climbed around 4% in trading, extending their monthly gains to nearly 30% amid energy supply concerns.
5. French Bond Market Faces Mounting Fiscal Pressure French government borrowing costs rose amid concerns about public finances and political uncertainty, adding to volatility in European financial markets.
Quote of the Day
“Business opportunities are like buses, there’s always another one coming.”
— Richard Branson
BILKUL BAZAAR — Business. Finance. Beyond.
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