Jio Platforms raised Rs 30,188 crore through its IPO after receiving more than 1.38 crore applications. The issue set records for institutional bidding and public participation and consisted entirely of newly issued equity.
11:55 PMEconomic Times77 stories from 3 sources
Jio’s blockbuster debut shifts India’s market focus to execution
Day’s Recap
Supporting Articles
Jio Platforms listed at Rs 1,359, a 21% premium to its Rs 1,119 IPO price. Nomura initiated coverage with a Rs 1,340 target, citing Jio’s leadership in wireless subscribers, data traffic and home broadband, as well as scope for tariff increases and broader monetisation.
11:40 PMEconomic Times
Jio Platforms shares listed at a 21% premium to the IPO price and then traded broadly flat on the NSE and BSE. Investors are assessing the debut alongside brokerage views on the company’s valuation and growth prospects.
11:09 PMEconomic Times
Jio Platforms shares will be eligible for the Margin Trading Facility from their first trading day after listing at a 21% premium to the IPO price. The issue was subscribed 22.19 times, and the stock carried a grey market premium of roughly Rs 246 to Rs 247 before debut.
11:02 PMEconomic Times
Jio is heading toward its stock-market debut with a gray-market premium of about 22%, signaling strong investor expectations for the offering.
10:35 PMBloomberg MarketsJio Platforms shares are trading about 22% above their IPO price in unofficial gray-market transactions ahead of the company's debut. The implied premium reflects strong demand for India's record $3.1 billion offering.
12:43 AMBloomberg MarketsIndia’s record bank cash surplus is shrinking as the Reserve Bank of India keeps liquidity tight to discourage speculative bets against the rupee.
9:51 PMBloomberg Markets
Larsen & Toubro's quarterly net profit rose 33% as revenue increased 16% to ₹78,750 crore. Order inflows grew 28% to ₹1,47,665 crore, with international business contributing 63% of the total.
9:52 PMEconomic Times
ACC's consolidated profit fell 92% year on year to Rs 93 crore in the September quarter from Rs 1,119 crore. Revenue declined more than 5% as sales volumes weakened, while expenses rose over 2%, amid the impact of its supply agreement with Ambuja Cements.
1:35 PMEconomic Times
Maruti Suzuki's consolidated second-quarter net profit fell 26% to ₹2,466 crore even as revenue rose 26% to ₹53,355.5 crore on record sales of 696,654 vehicles. Higher input costs and lower other income offset strong demand for small cars and SUVs.
10:25 PMEconomic Times
Bajaj Auto's standalone second-quarter net profit rose 35%, while revenue reached a record ₹20,003 crore, supported by stronger exports and a richer product mix. Price increases and electric-vehicle sales helped offset higher input costs and uneven domestic demand.
10:18 PMEconomic Times
Bank credit growth is expected to slow to 15% to 16% in FY27 as higher policy rates weigh on borrowing demand. Fresh slippages could reach ₹1 lakh crore at public sector banks and ₹1.3 lakh crore at private banks, even as net interest margins improve.
8:34 PMEconomic TimesMajor Indian brokerages are giving retail investors access to U.S. stocks, including Nvidia, SpaceX and Apple, as domestic markets come under pressure. The new offerings lower the barriers to buying overseas assets through familiar local trading apps.
8:14 PMCNBC11:55 PMEconomic Times
Ambani pulls off a blockbuster: Jio IPO makes 13 records, rewrites Dalal Street history
Summary
Jio Platforms raised Rs 30,188 crore through its IPO after receiving more than 1.38 crore applications. The issue set records for institutional bidding and public participation and consisted entirely of newly issued equity.
The scale of demand gives Reliance a large equity-funded platform for Jio’s next phase while
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Jio’s fundraising resets the scale of Indian equity issuance and strengthens Reliance’s ability to fund telecom and digital expansion.
11:40 PMEconomic Times
Jio Platforms gets first Buy call! Nomura says ‘disruptor now the leader’; starts coverage with Rs 1,340 target
Summary
Jio Platforms listed at Rs 1,359, a 21% premium to its Rs 1,119 IPO price. Nomura initiated coverage with a Rs 1,340 target, citing Jio’s leadership in wireless subscribers, data traffic and home broadband, as well as scope for tariff increases and broader monetisation.
Jio’s investment case now depends on converting scale into higher revenue per user and profits
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The first major brokerage call supports Jio’s structural growth story while warning that much of the near-term optimism may already be priced in.
11:09 PMEconomic Times
Jio IPO Listing Live: Jio Platforms shares trade flat after listing at 21% on NSE, BSE. Check brokerage views
Summary
Jio Platforms shares listed at a 21% premium to the IPO price and then traded broadly flat on the NSE and BSE. Investors are assessing the debut alongside brokerage views on the company’s valuation and growth prospects.
The flat trading after a strong debut suggests early profit-taking and a pause in price
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Jio’s debut has shifted the focus from IPO demand to whether operating performance can support its elevated market value.
11:02 PMEconomic Times
Jio Platforms shares to be available under MTF from Day 1. What should investors know?
Summary
Jio Platforms shares will be eligible for the Margin Trading Facility from their first trading day after listing at a 21% premium to the IPO price. The issue was subscribed 22.19 times, and the stock carried a grey market premium of roughly Rs 246 to Rs 247 before debut.
Day-one MTF access can increase trading liquidity and leverage, but it also magnifies losses if
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Easy leverage may amplify both demand and volatility in one of India’s most closely watched new large-cap stocks.
10:35 PMBloomberg Markets
Jio Looks to Break India Mega-IPO Jinx With a Blockbuster Stock-Market Debut
Summary
Jio is heading toward its stock-market debut with a gray-market premium of about 22%, signaling strong investor expectations for the offering.
The premium points to demand strong enough to challenge the weak post-listing performance that has
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Jio's debut could reset investor appetite for India's largest IPOs.
2 stories · 2 sources
12:43 AMBloomberg Markets
Jio Shares Indicated 22% Higher in India Gray-Market Trading
Summary
Jio Platforms shares are trading about 22% above their IPO price in unofficial gray-market transactions ahead of the company's debut. The implied premium reflects strong demand for India's record $3.1 billion offering.
The gray-market premium points to expectations of a sharp listing gain, but it does not
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Jio's debut could set the tone for investor appetite toward India's largest new-economy listings.
9:51 PMBloomberg Markets
India’s Record Bank Cash Surplus Fades as RBI Curbs Rupee Bets
Summary
India’s record bank cash surplus is shrinking as the Reserve Bank of India keeps liquidity tight to discourage speculative bets against the rupee.
The RBI is prioritizing currency stability over abundant domestic liquidity. Tighter funding conditions could raise
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India’s effort to defend the rupee is beginning to transmit directly into domestic financial conditions.
9:52 PMEconomic Times
L&T profit jumps 33% on strong order inflows
Summary
Larsen & Toubro's quarterly net profit rose 33% as revenue increased 16% to ₹78,750 crore. Order inflows grew 28% to ₹1,47,665 crore, with international business contributing 63% of the total.
The decisive shift is the conversion of infrastructure demand into a larger order book, not
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L&T is gaining visibility across both domestic infrastructure and overseas projects, strengthening its earnings pipeline.
1:35 PMEconomic Times
Adani-group owned ACC’s consolidated profit slumps 92% on year in September quarter
Summary
ACC's consolidated profit fell 92% year on year to Rs 93 crore in the September quarter from Rs 1,119 crore. Revenue declined more than 5% as sales volumes weakened, while expenses rose over 2%, amid the impact of its supply agreement with Ambuja Cements.
ACC's earnings collapse reflects a damaging combination of lower volumes, declining revenue and rising expenses.
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The sharp profit decline signals substantial earnings pressure in one of India's major cement businesses.
10:25 PMEconomic Times
Maruti Q2 net misses street view despite record quarterly sales
Summary
Maruti Suzuki's consolidated second-quarter net profit fell 26% to ₹2,466 crore even as revenue rose 26% to ₹53,355.5 crore on record sales of 696,654 vehicles. Higher input costs and lower other income offset strong demand for small cars and SUVs.
Record volume did not translate into earnings growth, exposing the pressure that costs and non-operating
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Maruti's results show that sales growth alone is not protecting auto profits from cost inflation.
10:18 PMEconomic Times
Bajaj Auto Q2 net profit up 35% on strong exports, product mix
Summary
Bajaj Auto's standalone second-quarter net profit rose 35%, while revenue reached a record ₹20,003 crore, supported by stronger exports and a richer product mix. Price increases and electric-vehicle sales helped offset higher input costs and uneven domestic demand.
Bajaj's export exposure and product mix are cushioning the company from domestic-market variability and input
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Bajaj is showing how mix and geographic diversification can protect two-wheeler margins.
8:34 PMEconomic Times
Icra sees bank credit growth slowing to 15-16% in FY27 as rates rise
Summary
Bank credit growth is expected to slow to 15% to 16% in FY27 as higher policy rates weigh on borrowing demand. Fresh slippages could reach ₹1 lakh crore at public sector banks and ₹1.3 lakh crore at private banks, even as net interest margins improve.
Higher rates are creating a tradeoff: banks may earn better spreads, but slower credit demand
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The banking cycle may shift from rapid loan growth toward margin protection and credit-loss control.
8:14 PMCNBC
Indian investors rush to Nvidia, SpaceX, Apple as local trading apps roll out access to U.S. stocks
Summary
Major Indian brokerages are giving retail investors access to U.S. stocks, including Nvidia, SpaceX and Apple, as domestic markets come under pressure. The new offerings lower the barriers to buying overseas assets through familiar local trading apps.
The shift moves international investing from a specialist service into a mainstream brokerage feature for
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Indian fintech platforms are turning global equity access into a mass-market product, putting pressure on the country’s domestic investment ecosystem.
Other Developments
A curated list of other prominent stories from this day.
M.K. Sons Fine Jewels has opened its Rs 275.40-crore IPO, which will remain available until October 30. The issue includes a Rs 220.32-crore fresh share sale and a Rs 55.08-crore offer for sale, while the grey market points to a modest 6% listing premium.
11:59 PMEconomic Times
Reliance Industries will meet on October 30 to approve its second-quarter FY27 results and consider raising funds through non-convertible debentures. Investors are also watching Jio Platforms’ listing, which could make it India’s second-most valuable listed company.
11:47 PMEconomic Times
Paras Healthcare is set to list after raising Rs 1,450 crore through a Rs 500-crore fresh issue and a Rs 950-crore offer for sale. The IPO was priced at Rs 660 to Rs 693 per share, requiring retail investors to invest Rs 14,553 for one 21-share lot at the upper end.
10:43 PMEconomic Times
Star Health and Allied Insurance reported September-quarter net profit of ₹264.4 crore, up 232% from ₹79.6 crore a year earlier. Its claims ratio improved to 69%, while first-half FY27 net profit reached ₹814.6 crore.
10:11 PMEconomic Times
SBI Life's September 2026-quarter net profit rose 11% year on year, while net premium income increased 8.2%. First-half FY27 profit grew 17%, and the insurer expects continued growth in individual rated premium during the financial year.
10:03 PMEconomic Times
Indian equities ended largely flat amid expiry-day volatility, while technical analysts identified the 20-day exponential moving average as a key recovery threshold. Foreign investors bought shares, domestic institutions sold, and the rupee edged higher, likely aided by central bank intervention.
9:25 PMEconomic Times
Max Financial Services reported quarterly net profit of ₹100 crore, up from ₹5.9 crore a year earlier. Its value of new business rose 21% to ₹1,180 crore in the first half, supported by its 80% stake in Axis Max Life.
8:53 PMEconomic TimesIndian jewelers are delaying gold purchases ahead of the peak demand season because they expect prices to fall further after a recent decline. The stance was reported by the country’s largest precious-metals refiner.
8:21 PMBloomberg Markets
Cipla's September-quarter results were pressured by a high comparison base in the United States, although sequential growth came from its India business and branded prescription therapies. Recent respiratory-product approvals, a growing biosimilar pipeline and potential portfolio acquisitions support its longer-term growth outlook despite weaker operating margins.
8:19 PMEconomic Times
Sebi is reconsidering additional disclosure requirements for foreign portfolio investors with large assets or concentrated equity positions. The review seeks to preserve transparency while avoiding rules that could disrupt market stability.
8:00 PMEconomic Times
AWL Agri Business reported a 2% year-on-year decline in consolidated net profit for the September quarter, even as operating revenue rose 26.1% to ₹22,270 crore. Its food and FMCG business grew 32%, prompting plans to expand packaged foods, develop pulses, and enter new markets.
4:42 PMEconomic Times
Credit card additions reached their second-highest monthly level of 2026, with HDFC Bank and Axis Bank accounting for nearly 43% of net additions in September. Together, they added 539,878 cards, ahead of SBI Cards.
2:59 PMEconomic Times
IRDAI chief Ajay Seth criticised dynamic pricing in insurance and warned that large commissions paid to digital platforms reduce the risk pool. He said those costs can ultimately raise premiums as the regulator works to build consensus on the issue.
2:36 PMEconomic Times
Vedanta Iron and Steel reported a consolidated loss of Rs 324 crore for the September quarter, although expenses fell more than 9% to Rs 3,129 crore. Steel production rose 4% year on year to 532,000 tonnes despite operational difficulties.
1:39 PMEconomic Times
Allied Blenders and Distillers reported a 9.7% year-on-year increase in net profit to Rs 69 crore in the September quarter of FY27. Revenue from operations rose 6.8%, while total expenses increased 6.51% to Rs 1,946.3 crore.
12:59 PMEconomic Times
Indus Towers reported a 2.5% decline in consolidated net profit to Rs 1,793 crore for the quarter ended September 30. Revenue increased 4%, EBITDA rose 0.4%, and tower and co-location bases grew 5.6% and 5.9%, respectively.
12:56 PMEconomic Times11:59 PMEconomic Times
M.K. Sons Fine Jewels IPO opens today: Check GMP, key details. Should you subscribe?
Summary
M.K. Sons Fine Jewels has opened its Rs 275.40-crore IPO, which will remain available until October 30. The issue includes a Rs 220.32-crore fresh share sale and a Rs 55.08-crore offer for sale, while the grey market points to a modest 6% listing premium.
The muted grey market premium signals limited appetite for quick listing gains and puts greater
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The IPO offers little obvious short-term pricing cushion, making valuation and use of proceeds more important than grey market sentiment.
11:47 PMEconomic Times
RIL shares in focus ahead of Oct 30 earnings, fundraising decision; all eyes on Jio’s mega listing
Summary
Reliance Industries will meet on October 30 to approve its second-quarter FY27 results and consider raising funds through non-convertible debentures. Investors are also watching Jio Platforms’ listing, which could make it India’s second-most valuable listed company.
The board’s fundraising decision will clarify how Reliance plans to finance its next investment cycle
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The earnings meeting and Jio listing could materially change how investors value both Reliance’s balance sheet and its digital subsidiary.
10:43 PMEconomic Times
Paras Healthcare shares to list today: Check GMP ahead of debut
Summary
Paras Healthcare is set to list after raising Rs 1,450 crore through a Rs 500-crore fresh issue and a Rs 950-crore offer for sale. The IPO was priced at Rs 660 to Rs 693 per share, requiring retail investors to invest Rs 14,553 for one 21-share lot at the upper end.
The large offer for sale means most proceeds will go to existing shareholders rather than
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Paras Healthcare’s listing will test investor appetite for a healthcare issue where secondary sales dominate the capital raised.
10:11 PMEconomic Times
Star Health and Allied Insurance reports 232% profit surge at Rs 264.4 crore
Summary
Star Health and Allied Insurance reported September-quarter net profit of ₹264.4 crore, up 232% from ₹79.6 crore a year earlier. Its claims ratio improved to 69%, while first-half FY27 net profit reached ₹814.6 crore.
The profit surge reflects a materially lower claims burden, which gives the insurer more room
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Better claims performance is turning Star Health's growth into stronger earnings.
10:03 PMEconomic Times
SBI Life posts 11% growth in Q2 net profit
Summary
SBI Life's September 2026-quarter net profit rose 11% year on year, while net premium income increased 8.2%. First-half FY27 profit grew 17%, and the insurer expects continued growth in individual rated premium during the financial year.
SBI Life is delivering steady earnings growth alongside premium expansion, while an improved solvency ratio
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SBI Life combines growth with stronger capital resilience as competition in insurance intensifies.
9:25 PMEconomic Times
D-Street braces for weak opening on negative GIFT Nifty cues
Summary
Indian equities ended largely flat amid expiry-day volatility, while technical analysts identified the 20-day exponential moving average as a key recovery threshold. Foreign investors bought shares, domestic institutions sold, and the rupee edged higher, likely aided by central bank intervention.
The immediate risk is a weak open that could expose the market's fragile technical setup
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Near-term market direction will depend on whether foreign flows can offset domestic selling and technical weakness.
8:53 PMEconomic Times
Max Financial Services reports massive profit growth of Rs 100 crore in Q2 FY26
Summary
Max Financial Services reported quarterly net profit of ₹100 crore, up from ₹5.9 crore a year earlier. Its value of new business rose 21% to ₹1,180 crore in the first half, supported by its 80% stake in Axis Max Life.
The sharp profit increase reflects stronger performance from the life insurance subsidiary, but the more
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Max Financial is increasingly tied to the expansion and profitability of Axis Max Life.
8:21 PMBloomberg Markets
India Jewelers Hold Off Gold Buying, Betting Prices Will Drop
Summary
Indian jewelers are delaying gold purchases ahead of the peak demand season because they expect prices to fall further after a recent decline. The stance was reported by the country’s largest precious-metals refiner.
Dealers are treating the price drop as the start of a deeper correction rather than
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
India’s seasonal buying is a key source of physical gold demand, so dealer hesitation can amplify weakness in the international market.
8:19 PMEconomic Times
Cipla’s US recovery, biosimilar pipeline key to future growth prospects
Summary
Cipla's September-quarter results were pressured by a high comparison base in the United States, although sequential growth came from its India business and branded prescription therapies. Recent respiratory-product approvals, a growing biosimilar pipeline and potential portfolio acquisitions support its longer-term growth outlook despite weaker operating margins.
Cipla's near-term performance depends on rebuilding US momentum while protecting growth from its stronger Indian
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Cipla's growth story now hinges on turning its pipeline and US recovery into higher-margin, more diversified earnings.
8:00 PMEconomic Times
Sebi may ease extra disclosure rules for foreign portfolio investors
Summary
Sebi is reconsidering additional disclosure requirements for foreign portfolio investors with large assets or concentrated equity positions. The review seeks to preserve transparency while avoiding rules that could disrupt market stability.
Any relaxation would reduce compliance pressure for large and concentrated foreign funds, potentially improving India's
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The decision could influence foreign capital flows while setting the balance between ownership transparency and market access.
4:42 PMEconomic Times
AWL Agri Business experiences 2% profit drop, emphasises growth in packaged food and exports
Summary
AWL Agri Business reported a 2% year-on-year decline in consolidated net profit for the September quarter, even as operating revenue rose 26.1% to ₹22,270 crore. Its food and FMCG business grew 32%, prompting plans to expand packaged foods, develop pulses, and enter new markets.
Revenue growth is outpacing profit growth, pointing to margin pressure despite strong demand across food
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AWL’s next growth phase depends on converting rapid packaged-food sales into stronger margins.
2:59 PMEconomic Times
Credit card additions hit second-highest monthly level in 2026 as banks gear up for festive season
Summary
Credit card additions reached their second-highest monthly level of 2026, with HDFC Bank and Axis Bank accounting for nearly 43% of net additions in September. Together, they added 539,878 cards, ahead of SBI Cards.
Private lenders are driving the latest expansion in India's credit card market, with HDFC Bank
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The surge shows banks are competing aggressively for consumer spending before the festive season.
2:36 PMEconomic Times
Dynamic pricing's unacceptable in insurance, big payouts erode value: IRDAI chief Ajay Seth
Summary
IRDAI chief Ajay Seth criticised dynamic pricing in insurance and warned that large commissions paid to digital platforms reduce the risk pool. He said those costs can ultimately raise premiums as the regulator works to build consensus on the issue.
The regulator is challenging a distribution model that shifts more premium revenue toward digital intermediaries
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The dispute could reshape insurance distribution economics and determine who bears the cost of digital sales.
1:39 PMEconomic Times
Vedanta Iron and Steel’s loss narrows on year in September quarter
Summary
Vedanta Iron and Steel reported a consolidated loss of Rs 324 crore for the September quarter, although expenses fell more than 9% to Rs 3,129 crore. Steel production rose 4% year on year to 532,000 tonnes despite operational difficulties.
Lower costs and higher production narrowed the loss, but the business remains unprofitable. The results
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The narrower loss offers some operational relief without resolving the sector's broader profitability problem.
12:59 PMEconomic Times
Allied Blenders Q2 Results: Profit rises 9.7% to Rs 69 crore, revenue up 6.8%
Summary
Allied Blenders and Distillers reported a 9.7% year-on-year increase in net profit to Rs 69 crore in the September quarter of FY27. Revenue from operations rose 6.8%, while total expenses increased 6.51% to Rs 1,946.3 crore.
Profit growth outpaced expense growth, but only modestly, indicating limited operating leverage despite higher sales.
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The results show steady growth, but not enough yet to establish a stronger earnings trajectory for the spirits maker.
12:56 PMEconomic Times
Indus Towers Q2 Results: Net profit slips 2.5% to Rs 1,793 crore
Summary
Indus Towers reported a 2.5% decline in consolidated net profit to Rs 1,793 crore for the quarter ended September 30. Revenue increased 4%, EBITDA rose 0.4%, and tower and co-location bases grew 5.6% and 5.9%, respectively.
Operational expansion has not translated into profit growth, as EBITDA barely increased despite a larger
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Indus Towers is adding infrastructure, but earnings are lagging growth in its operating base.
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