61 stories from 4 sources

Jio demand surges as oil and valuations pressure markets

Day’s Recap

Supporting Articles

11:59 PMEconomic Times

Jio IPO: Subscribe on day 2? What investors need to know

Summary

Jio Platforms' Rs 30,230-crore IPO drew bids worth Rs 95,500 crore on its first day, while total demand including anchor commitments reached Rs 3.45 lakh crore. Brokerages are assessing whether its growth outlook justifies subscribing at the offered valuation.

The first-day demand was exceptionally strong, but subscription levels do not settle the valuation question.

Why it matters

Heavy demand may support the issue, but valuation will determine whether that enthusiasm translates into durable returns.

11:48 PMEconomic Times

Jio IPO Day 2: GMP at 22%, issue subscribed over 3.16; check brokerage views and key details

Summary

Jio Platforms' Rs 30,213-crore IPO was subscribed more than 3.16 times by Day 2, while its grey market premium stood near 22%. The issue values the company at about Rs 10.3 lakh crore at the upper price band, with brokerages citing telecom dominance, improving profitability and growth in broadband and AI.

The premium signals strong near-term listing expectations, but it also raises the risk that a

Why it matters

Investors are being asked to pay upfront for growth that still needs to be delivered across new businesses.

10:30 PMBloomberg Markets

Jio IPO Sees Overwhelming Demand on Day One Even as Nifty Struggles

Summary

Jio's IPO drew strong demand on its first day, even as the broader Nifty index weakened. The response stands out against the recent performance of Reliance group stocks.

Investors are treating Jio's growth and digital-market position as a distinct opportunity rather than simply

Why it matters

The offering is testing whether India's equity market will fund large technology platforms despite broader market caution.

8:56 PMEconomic Times

Jio IPO attracts Rs 70,000 crore in bids on day 1, outpaces LIC, NSE issues

Summary

Jio Platforms' IPO attracted about Rs 70,000 crore in first-day bids and was subscribed 3.16 times overall. Institutional demand reached 9.42 times, while retail subscription stood at 0.73 times and non-institutional subscription at 1.68 times; much of the planned capital will go toward debt reduction.

Institutional investors are driving the offering, while retail participation remains below the full issue size.

Why it matters

Jio's IPO is becoming a major test of institutional appetite for India's largest new-age platform listings.

2 stories · 2 sources

10:02 AMEconomic Times

Jio IPO strengthens Reliance’s financial flexibility; capex funding remains key: Moody’s

Summary

Moody's described Jio Platforms' Rs 30,200 crore IPO as credit positive for Reliance Industries because it can support debt repayment and provide funding flexibility. The proceeds will also help fund investments while Reliance manages elevated capital expenditure.

The IPO gives Reliance another source of capital and reduces pressure on consolidated leverage as

Why it matters

Jio's listing could improve Reliance's balance-sheet flexibility while preserving its ability to finance large growth projects.

9:35 AMEconomic Times

Can Jio IPO unlock hidden value in Reliance Industries shares?

Summary

The article examines whether a Jio Platforms IPO could reveal value embedded in Reliance Industries and improve how investors assess the conglomerate's businesses.

The IPO could give Jio a clearer market valuation and make Reliance's portfolio easier to

Why it matters

Jio's valuation could become a major reference point for Reliance's share price and capital-allocation debate.

8:33 PMEconomic Times

Market sell-off deepens as midcaps enter correction zone

Summary

Indian midcap stocks have entered correction territory as investors reassess elevated valuations, with smallcap and microcap indices also weakening. Analysts say these segments remain expensive even after the decline, though an improving economy could support a relief rally.

The sell-off is exposing how dependent smaller stocks had become on retail flows rather than

Why it matters

The correction threatens the retail-led momentum that powered India's smaller stocks and could broaden market volatility.

8:30 PMEconomic Times

D-St set for a negative opening as GIFT Nifty signals weak start

Summary

GIFT Nifty indicated a weak opening after Indian benchmark indices reversed early gains and closed lower amid selling pressure and Brent crude prices above $110 a barrel. Analysts identified 23,175, Monday's high, as a key resistance level, while both foreign and domestic institutional investors remained net buyers.

Elevated oil prices and the failure to hold early gains have shifted the immediate setup

Why it matters

Oil-driven inflation and resistance near recent highs could keep the market range-bound despite continued institutional demand.

8:30 PMEconomic Times

Stocks in news: Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy and GMDC

Summary

Indian equities fell 77.60 points to 22,811.35 on the Nifty 50 as investors sold banking stocks after an initially stronger session. Reliance Industries received an ICRA reaffirmation for its Rs 12,000 crore non-convertible debenture programme, while Eternal reported strong year-on-year growth in second-quarter revenue and profit.

Banking-led selling erased early gains and remains the clearest near-term drag on the market. Company-specific

Why it matters

The session shows that strong individual earnings or credit signals are being filtered through a broader retreat from banking and market risk.

11:57 AMEconomic Times

Ahead of Market: 10 things that will decide stock market action on Thursday

Summary

Indian equities ended above their pre-closing auction levels after a highly volatile session, but the market still lost about Rs 8 lakh crore in value. Rising crude prices, foreign investor selling and weak market breadth kept sentiment fragile.

The scale of the selloff shows that late-session recovery did not resolve the market's underlying

Why it matters

Investors face a market where headline index stability may mask continued selling pressure and deteriorating breadth.

5:45 AMBloomberg Markets

RBI Turns Away All Bids at Treasury Bill Sale Amid Bond Selloff

Summary

The RBI rejected every bid at a federal treasury bill auction for the first time in seven months. The decision came as a bond selloff pushed borrowing costs to multi-year highs.

The failed auction shows that investors are demanding yields the government or RBI was unwilling

Why it matters

A sustained auction disruption could lift government borrowing costs across the yield curve.

8:00 PMEconomic Times

Indian banks open cheque books for ₹10,000 crore-plus in M&A funding after RBI rule change

Summary

Indian banks, led by State Bank of India, are financing large acquisitions after the Reserve Bank of India eased rules on acquisition funding. Lenders can now finance up to 75% of a deal's value, expanding the pool of available capital as demand approaches ₹2 lakh crore.

The rule change shifts acquisition financing from a constrained market into a major growth opportunity

Why it matters

Cheaper and more accessible debt could accelerate consolidation across Indian industries while increasing leverage risk for both buyers and lenders.

8:12 PMEconomic Times

Rupee soars to 6-week high on Jio IPO flows, weaker dollar

Summary

The rupee gained 46 paise to close at 94.46, its strongest level in six weeks, supported by foreign inflows linked to the Jio Platforms IPO and a weaker dollar. RBI intervention helped contain the impact of oil prices above $110 a barrel.

The rupee's strength is being driven by concentrated capital inflows and dollar weakness, not by

Why it matters

The rally may be temporary, leaving the rupee exposed when one-off equity inflows end or oil prices remain elevated.

7:05 AMBloomberg Markets

IMF Urges Currency Flexibility as RBI Mounts Rupee Defense

Summary

A senior IMF official said foreign exchange intervention provides limited benefits beyond the short term and urged currencies to adjust to global shocks. The comments come as the RBI works to support the rupee.

The policy tension is between smoothing volatility and allowing the rupee to absorb external pressure.

Why it matters

The RBI may face greater pressure to tolerate rupee weakness rather than defend a specific level.

11:23 PMEconomic Times

PC Jeweller shares soar 9% after Q2 net profit rises 58% YoY; plans 100 new stores in 18 months

Summary

PC Jeweller's Q2 FY27 net profit rose 58% year on year to Rs 330.66 crore, while revenue increased 28% to Rs 1,054.47 crore. The company said it had become debt-free and plans to open 100 showrooms, launch a youth-focused brand and start gold mining operations this financial year.

The profit jump and debt-free balance sheet have strengthened the recovery case, prompting the share

Why it matters

PC Jeweller is moving from balance-sheet repair to expansion, raising both its growth potential and execution risk.

9:59 AMEconomic Times

PC Jewellers Q2 Results: Net profit shoots up 58% to Rs 331 crore; company says it is now debt-free

Summary

PC Jewellers reported a 58% increase in second-quarter net profit to Rs 331 crore, with sales exceeding Rs 1,054 crore. The company said it had become debt-free after repaying bank borrowings early and plans to launch a jewellery brand aimed at younger customers.

Debt elimination materially improves the company's financial resilience and reduces interest costs, but the earnings

Why it matters

A debt-free balance sheet gives PC Jewellers more room to invest, compete and withstand swings in jewellery demand.

10:28 AMEconomic Times

Mahindra Finance Q2 net profit surges 55% to Rs 882 crore on volumes, lower credit cost

Summary

Mahindra Finance's second-quarter net profit rose 55% to Rs 882 crore, supported by higher volumes and lower credit costs. Assets under management increased 15% year on year to Rs 1.47 lakh crore, while non-vehicle finance disbursements grew 52%.

Growth is broadening beyond vehicle finance, with strong expansion in SME, personal and housing loans

Why it matters

Mahindra Finance is combining faster growth with improving asset quality, strengthening its case for a more diversified lending model.

3:23 AMBloomberg Markets

Carlsberg Said to Near Public Filing for $700 Million India IPO

Summary

Carlsberg is preparing to publicly file documents for an IPO of its India business, potentially raising as much as $700 million. The filing could come as early as this week.

A public filing would move Carlsberg India from speculation into a formal transaction process and

Why it matters

The offering could become a major test of investor appetite for India’s consumer and alcohol businesses.

Other Developments

A curated list of other prominent stories from this day.

11:51 PMEconomic Times

Ravita Engineering Services shares to list today: Check GMP ahead of debut

Summary

Ravita Engineering Services is scheduled to list on the NSE SME platform after its Rs 116.05-crore IPO was subscribed 7.11 times. Grey market indications point to a potential listing gain of about 1%, despite stronger demand from qualified institutional buyers.

The muted grey market premium suggests subscription strength has not translated into expectations of a

Why it matters

A near-flat expected debut shows that strong subscription alone does not guarantee meaningful listing gains in SME offerings.

11:42 PMEconomic Times

SoftBank-backed India's Oyo Hotels owner halves proposed IPO, filing shows

Summary

Prism, the owner of Oyo Hotels, has reduced its proposed IPO size from Rs 66.5 billion to Rs 33.5 billion. The company has also faced repeated delays since initially targeting a valuation of about $12 billion in 2021.

Halving the issue size suggests Prism is recalibrating its public-market ambitions after delays and a

Why it matters

The revised IPO reflects a broader reset in how high-growth consumer internet companies approach public markets.

11:35 PMEconomic Times

Fusion CX shares list at 6% premium over IPO price

Summary

Fusion CX shares listed 6% above their IPO price after the company raised Rs 702 crore. Investor expectations are tied to strong subscription, rising profits, planned AI investments and expansion.

The modest premium indicates a positive but measured market response rather than a speculative surge.

Why it matters

The debut gives Fusion CX a supportive starting point, but execution will determine whether the initial premium holds.

10:59 PMEconomic Times

Dividend alert! Last day to buy HDB Financial, Tech Mahindra, LTM among 10 stocks for dividend rewards

Summary

Under the T+1 settlement cycle, investors must buy shares at least one trading day before the record date to receive them in time for dividend eligibility. For the companies listed, October 23 is the record date, making the stated trading day the final opportunity to purchase the shares.

The deadline is a settlement-timing issue, not a change in the dividend itself. Investors who

Why it matters

Missing the settlement cutoff can forfeit dividend eligibility even when an investor buys shares before the record date.

10:46 PMEconomic Times

Gold, global equities, largecaps, midcaps and smallcaps: Samco CEO Jimet Modi’s five-way portfolio formula

Summary

Samco CEO Jimeet Modi recommends allocating 20% each to largecaps, midcaps, smallcaps, gold and global equities. He expects India's market to remain range-bound for the next 10 to 12 months as smaller stocks look expensive and largecaps lack strong growth drivers.

The proposed allocation reflects a market with limited conviction across domestic equity segments rather than

Why it matters

The strategy captures the central portfolio challenge: balancing expensive valuations against weak near-term growth leadership.

10:43 PMBloomberg Markets

Barclays APAC CEO: Japan, India are Key Markets

Summary

Barclays Asia Pacific CEO Jaideep Khanna identifies Japan and India as key markets in the bank's regional strategy and growth plans.

Barclays is prioritizing India alongside Japan as it allocates capital and management attention across Asia.

Why it matters

A major global bank's priorities signal sustained foreign interest in India's financial market opportunity.

10:10 PMEconomic Times

NSE shares in focus as IPO lock-in expiry frees up stake worth Rs 3,247 crore for trade. How the stock performed in a month since listing

Summary

An IPO lock-in expiry is releasing NSE shares worth about Rs 3,247 crore for trading, based on the previous BSE price of Rs 1,709 per share. The event puts the stock's performance since its listing under renewed scrutiny.

The newly tradable stake increases the potential supply of shares and could create short-term selling

Why it matters

A large release of locked-up shares can reset NSE's near-term valuation and test the depth of investor demand.

9:17 PMEconomic Times

Aditya Birla AMC Q2 net profit dips 8.4% to Rs 221 crore

Summary

Aditya Birla Sun Life AMC's September-quarter net profit fell 8.4% year on year to Rs 221 crore, despite a 5% increase in operating revenue to Rs 484 crore. Expenses rose 21% to Rs 230 crore, while quarterly average assets under management increased 4% to Rs 4.42 lakh crore.

Higher costs are absorbing the benefit of revenue and asset growth, putting pressure on the

Why it matters

The results show that expanding assets do not automatically translate into higher profits in India's increasingly competitive fund-management industry.

8:14 PMEconomic Times

Jefferies sees valuation upside in select IT stocks despite muted growth forecast

Summary

Jefferies sees further valuation upside in selected Indian IT stocks despite subdued growth expectations following the sector's October rally. It raised target prices for Infosys and TCS, arguing that a lack of negative surprises could support rerating, while its worst-case scenario assumes stagnant growth beyond fiscal 2029.

The thesis has shifted from a growth recovery to a valuation and expectations trade: stable

Why it matters

IT stocks can rerate without a growth rebound, but that support is fragile if stagnation extends beyond fiscal 2029.

8:07 PMCNBC

Inside India newsletter: Asia’s hottest data center market aims to quell concerns over water and power use

Summary

India's rapid data-center expansion is facing public opposition over its demands for water and electricity. The backlash threatens the country's ambition to become a major global data-hosting hub.

Resource constraints are becoming a commercial limit on India's data-center strategy, not just an environmental

Why it matters

India's digital infrastructure ambitions depend on solving the physical resource demands behind data growth.

1:31 PMEconomic Times

Persistent Systems launches Rs 4,265-cr QIP; floor price set at Rs 5,550/share

Summary

Persistent Systems has launched a qualified institutional placement to raise up to $450 million, or about Rs 4,265 crore. The issue has a floor price of Rs 5,550 per share, with approval to offer a discount of up to 5%.

The QIP gives Persistent fresh capital from institutional investors but will dilute existing shareholders. The

Why it matters

The issue tests institutional appetite for Persistent and sets the near-term balance between growth funding and shareholder dilution.

8:42 AMFinextra

Bajaj Broking adds commodity trading to digital platforms

Summary

Bajaj Broking has added commodity trading to its digital platforms, giving customers access to another asset class alongside existing markets.

The move broadens Bajaj Broking's product offering and creates more opportunities to increase trading activity

Why it matters

Commodity access could help Bajaj Broking deepen customer relationships and capture more trading revenue.

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