BILKUL BAZAAR— The Daily News Wrap

9 PM, 19 October – 9 PM, 20 October

National Business News Highlights

1. Jio Platforms IPO attracts major investors: Jio Platforms’ public offering drew strong institutional interest, with LIC, BlackRock, Fidelity and GIC among 212 anchor investors reportedly committing ₹8,110 crore.

2. India–New Zealand free trade agreement takes effect: The agreement opens fresh opportunities for Indian exporters, with improved market access expected to benefit several product categories.

3. HFCL raises growth ambitions: The telecom equipment maker doubled its FY27 revenue growth target to at least 80%, citing demand from AI infrastructure, data centres and telecom networks.

4. UltraTech Cement reports strong quarterly growth: The company’s September-quarter consolidated net profit rose 21% year-on-year to ₹1,501 crore, supported by higher cement volumes.

5. Union Bank profit climbs 30%: The public-sector lender reported stronger quarterly earnings as improved margins and loan growth supported performance.

6. Bajaj Finance posts 29% profit growth: The non-banking financial company reported consolidated September-quarter net profit of ₹6,367 crore, while its assets under management grew 26%.

7. Hindustan Zinc reports a sharp earnings jump: The mining company’s September-quarter profit rose 142% year-on-year to ₹6,412 crore, supported by higher revenue.

8. Orchid Pharma plans to raise ₹600 crore: The company’s board approved an enabling proposal to raise funds through equity shares or convertible securities.

9. Textile exporters diversify beyond the US: Indian exporters are exploring markets such as Canada, Japan and the European Union to reduce exposure to US tariff uncertainty.

10. Indian stock markets face renewed selling pressure: Weak global cues and selling in banking and IT stocks weighed on sentiment, with the Nifty slipping below the 23,000 mark.

International Business News

1. Global shares decline as oil prices rise: European equities weakened as Brent crude climbed above $110 a barrel, raising concerns about inflation and corporate costs.

2. AI investment jitters hit technology stocks: South Korea’s Kospi fell 3.5%, while chipmaker SK Hynix faced heavy selling amid concerns about the returns on AI infrastructure spending.

3. China’s export boom supports global trade: Demand linked to artificial intelligence infrastructure is helping sustain international trade despite tariffs and geopolitical uncertainty.

4. Jaguar unveils a £130,000 electric car: The British luxury automaker introduced a new electric model as part of its wider brand revival and repositioning strategy.

5. Apple schedules a major product event: Apple announced an October 28 event, with expectations centred on new Mac computers and possible touchscreen MacBook technology.

Quote of the Day

“Price is what you pay. Value is what you get.”

— Warren Buffett

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