BILKUL BAZAAR— The Daily News Wrap
- Bilkul Online
- 9:00 PM | 23 Oct –24 Oct 2026
National Business News Highlights
1. Jio Platforms IPO Creates History with Record Investor Demand
Reliance Industries’ Jio Platforms IPO attracted overwhelming investor interest, with bids crossing ₹4.5 lakh crore and subscription exceeding 22 times the shares on offer. The ₹30,213-crore issue emerged as India’s largest-ever IPO by issue size.
2. SEBI Orders Avadhut Sathe Trading Academy to Refund ₹546 Crore
The Securities and Exchange Board of India directed Avadhut Sathe Trading Academy and associated parties to refund approximately ₹546.18 crore collected through unregistered investment advisory activities. The regulator also imposed penalties over alleged misleading claims and concealed trading losses.
3. BPCL Reports 21.45% Decline in Second-Quarter Profit
Bharat Petroleum Corporation Ltd reported a 21.45% fall in its second-quarter net profit, citing challenges related to fuel pricing. The results highlight continuing pressures on oil marketing companies’ profitability.
4. Dr. Reddy’s Laboratories Posts 36% Drop in Quarterly Profit
Dr. Reddy’s Laboratories reported a 36% decline in profit after tax for the second quarter. The pharmaceutical company also indicated that proposed restrictions on trade margins could have a positive impact on the industry.
5. Adani Power Profit Surges 142% on Strong Demand
Adani Power reported a 142% increase in quarterly profit, supported by strong electricity demand. The performance came despite the impact of weaker rainfall conditions.
6. JSW Steel Reports Nearly Threefold Profit Growth
JSW Steel posted a sharp increase in quarterly profit, with earnings rising nearly threefold. The company also outlined plans to expand capacity, reflecting its continued focus on strengthening its position in the steel sector.
7. KEC International Secures ₹2,872 Crore in New Orders
KEC International secured new orders worth ₹2,872 crore, including contracts associated with Power Grid Corporation of India. The orders strengthen its infrastructure and transmission business pipeline.
8. RBI Governor Reiterates Tata Sons Listing Requirement
Reserve Bank of India Governor Sanjay Malhotra reiterated that upper-layer non-banking financial companies and core investment companies must comply with applicable stock-exchange listing requirements. The clarification keeps the spotlight on the potential listing of Tata Sons.
9. Infosys Lowers FY27 Revenue Growth Guidance
Infosys revised its FY27 revenue growth guidance to 1–2%, lowering both ends of its earlier range. The company also flagged increasing pricing pressure as clients seek greater productivity gains from artificial intelligence.
10. India’s Smart Metering Industry Sees Fresh Growth Opportunities
India’s smart-metering programme continued to create opportunities for technology providers and power-sector companies. Genus Power Infrastructure is expanding its digital platforms and analytics capabilities as the country advances towards its target of 25 crore smart meters by FY28.
International Business News
1. US Authorises Emergency Release of Oil Reserves
The United States authorised the emergency release of up to 400,000 barrels of oil from reserves to address a supply disruption affecting the Phillips 66 Lake Charles refinery. The move highlights concerns over energy supply and refining operations.
2. Apple’s First Foldable iPhone Enters the Market
Apple’s first foldable iPhone went on sale at a premium price of around US$2,000, attracting attention across the global smartphone industry. Limited availability and strong consumer interest could shape the initial market response.
3. Eurozone Business Activity Growth Slows in October
Business activity growth across the eurozone slowed in October, signalling weaker momentum for the region’s economy. The development adds to concerns over demand, operating costs and the outlook for European businesses.
4. Gucci Owner Kering Shares Slide 11%
Shares of French luxury group Kering fell around 11% as investors assessed the outlook for luxury spending ahead of a potentially challenging winter. The decline reflects continuing concerns about demand in the high-end fashion market.
5. Volvo Cars Announces 2,500 Job Cuts
Volvo Cars announced plans to cut 2,500 jobs as the automotive industry faces cost pressures and changing market conditions. The move reflects manufacturers’ efforts to improve efficiency while navigating the transition towards electric vehicles.
Quote of the Day
“Great things in business are never done by one person. They’re done by a team of people.”
— Steve Jobs
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