BILKUL BAZAAR— The Daily News Wrap
Bilkul Bazaar
9 PM, 12 October – 9 PM, 13 October
1. Sensex Surges Over 1,100 Points as IT Stocks Rally
Indian equity markets rebounded sharply on Tuesday, with the Sensex gaining 1.54% to close at 73,033.78 and the Nifty 50 rising 1.6% to 22,721.95. Strong IT-sector buying lifted investor sentiment.
2. HCLTech Shares Jump After Strong Quarterly Results
HCLTech reported a 21% year-on-year increase in second-quarter consolidated net profit to ₹5,132 crore. Improved revenue and enterprise technology demand supported the performance, sending its shares sharply higher.
3. SEBI Extends Temporary IPO Rule Relaxation
The Securities and Exchange Board of India extended temporary IPO-related flexibility until March 2027, allowing companies to revise the size of fresh issues without filing new draft documents, offering issuers greater flexibility amid volatile markets.
4. IMF Raises India’s FY27 Growth Forecast to 7%
The International Monetary Fund raised its growth projection for India to 7% for the 2026–27 financial year, citing resilient domestic demand and strong services activity.
5. Retail Inflation Climbs to 5.54% in September
India’s retail inflation rose to 5.54% in September, reaching a 23-month high. Higher food prices, particularly onions, contributed to the increase, raising concerns about household purchasing power and monetary policy.
6. Indian Railways Freight Loading Rises 6.1%
Indian Railways recorded a 6.1% year-on-year increase in freight loading in September, reaching 135.5 million tonnes. Freight revenue also rose, reflecting continued demand for rail-based cargo transportation.
7. Odisha’s Capital Expenditure Trails Annual Target
Odisha spent ₹18,183 crore of its ₹72,100 crore annual capital outlay by September. The spending pace has drawn attention to the state’s infrastructure investment and public expenditure execution.
8. Vaibhav Vyapaar IPO Opens for Subscription
Vaibhav Vyapaar launched its ₹42.10 crore SME public issue on October 13, with a price band of ₹51–54 per share. The non-banking financial company plans to use the proceeds primarily to strengthen its capital base.
9. Triveni Power Transmission Shares List After Demerger
Triveni Power Transmission listed its shares on the BSE and NSE following its demerger from Triveni Engineering & Industries. Eligible shareholders received one share of the newly listed company for every three shares held in the parent company.
10. Bharat Electronics Secures Fresh Orders Worth ₹533 Crore
Bharat Electronics secured additional orders worth ₹533 crore, strengthening its order pipeline across defence-related equipment, drones and cybersecurity solutions.
International Business News Highlights
1. IMF Warns of Risks From a Potential AI Stock Market Correction
The International Monetary Fund cautioned that elevated valuations and rising debt in the artificial intelligence sector could expose global financial markets to a sharp correction. Higher government borrowing and cybersecurity threats were also highlighted as risks.
2. Citigroup Reports 40% Jump in Quarterly Profit
Citigroup reported a third-quarter profit of $5.25 billion, up from $3.8 billion a year earlier. Stronger investment banking, services and wealth management revenues helped the US banking giant outperform market expectations.
3. Global Chip Stocks Face Pressure Amid AI Investment Concerns
Technology shares linked to artificial intelligence came under pressure as investors reassessed the scale and sustainability of AI-related spending. Concerns about higher interest rates and stretched valuations weighed on sentiment across Asian markets.
4. Visa Receives Approval to Prepare for China’s Domestic Payments Market
Visa received approval to prepare for participation in China’s domestic payments business, marking a step towards expanding its presence in one of the world’s largest payments markets.
5. Cyberattack Disrupts French Supermarket Refrigeration Systems
A cyberattack targeting connected refrigeration systems at supermarkets in France reportedly caused fires and food spoilage. The incident highlighted the growing operational and financial risks businesses face from attacks on connected infrastructure.
Daily Quote of the Day
Price is what you pay. Value is what you get.
— Warren Buffett
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