Analysts forecast weak financial results for banks in the second quarter due to factors like low loan growth, compressed net interest margins, and weak fee income. Private sector banks may only see a 2% profit growth, while public sector banks will have limited profits due to poor treasury performance. Net interest income is expected to stay the same, but margins are predicted to improve.
Mukesh Ambani, chairman and MD of Reliance Industries Limited, retains the top spot in India's richest people list with a net worth of $105 billion. Gautam Adani, founder of the Adani Group, claims the second spot with $92 billion, followed by Savitri Jindal with $40.2 billion. Sunil Mittal, Shiv Nadar, and Radhakishan Damani are also among the top 10 wealthiest individuals in India.
TCS, a leading IT company, exceeded expectations with its Q2 results, reporting higher profits and revenue. Despite incurring a restructuring expense of Rs 1,135 crore, the company did not disclose its attrition rate or total headcount. Expenses rose due to employee benefits. The company announced a dividend of Rs 11 per share and formed a new AI business entity.
Canara Robeco Asset Management Company's initial public offering (IPO) was subscribed 23% on the first day of bidding, with bids for 79,38,112 shares against 3,48,98,051 shares on offer. The IPO, which will conclude on October 13, has a price band of Rs 253 to Rs 266 per share and is solely an offer for sale (OFS) of 4.98 crore equity shares. The company, which
Tata Consultancy Services (TCS), India's largest information technology company, is heavily investing in AI and data centres in line with the India AI Mission. The company aims to become the world's largest AI-led technology services company and has announced strategic plans and partnerships to achieve this. TCS has also launched a new entity for AI infrastructure development
The UK and India have signed a £350 million contract for UK-made missiles, strengthening their defence partnership. The deal was announced during British PM Keir Starmer's visit to Mumbai, securing 700 jobs and paving the way for a broader weapons partnership. Starmer has been focusing on the defence sector, while both leaders hailed the potential of their trade agreement.
India's renewable energy capacity has reached 256 GW, with 23 GW added in the first five months of the fiscal year. Solar energy accounts for 127.33 GW and wind capacity is at 53.12 GW. The country aims to reach 500 GW by 2030 and 1,800 GW by 2047. However, there has been a slowdown in bidding and delays in signing power sale for RE projects.
Tata Consultancy Services announced a dividend of Rs 11 per share with record and payment dates set for October 15 and November 4 respectively. The company's operating margins have improved by 70 basis points to 25.2% in Q2 FY26. Cash flow from operations was at 110.1% of net income. Despite a 5.3% QoQ decline in net profit, TCS reported a net profit of Rs 12,075 crore in Q
A Reddit post detailing a manager's request for an employee to take pills and come to work despite a headache has gained over 3,900 upvotes. Users have criticised the manager's behaviour and suggested involving HR. Some even joked about reporting more serious health issues in the future. The manager's comparison of the workplace to school has sparked further outrage.
Mumbai University, the only Indian university on the list, ranks 8th globally for producing 22 billionaire alumni, including Mukesh Ambani. Harvard and Stanford top the list with the most billionaire alumni. The inclusion of universities from Asia reflects the region's increasing presence in the global billionaire landscape.
Pakistan-based terror group Jaish-e-Mohammed (JeM) has announced its first all-women wing, named "Jamaat-ul-Mominaat", led by Masood Azhar's sister Sadiya Azhar. The group is actively recruiting the wives of JeM commanders and economically vulnerable women. This comes after India destroyed several terror camps, including JeM's headquarters, in Operation Sindoor.
Indian equity benchmarks closed higher as metal stocks shone. The Nifty 50 and Sensex both saw gains of 0.54% and 0.49% respectively. Nifty Metal outperformed all sectoral indices, while Nifty Bank and midcap stocks also surged. 86 stocks hit a fresh 52-week high and 90 touched a new 52-week low. JSW Steel was the top gainer while Axis Bank was the biggest loser.
Vivek Ramaswamy, an Indian-origin American politician, drew thousands of attendees at Turning Point USA's "This is the Turning Point" tour in Bozemon, Montana. While thousands of eventgoers showered him with rousing applause, Nalin Haley criticised Ramaswamy's views on social media. Haley's son, Nalin, hit out against Ramaswamy's response to the question "What is an American?"
The GST reform has positively impacted the manufacturing sector, with a FICCI survey showing increased optimism and expectations of higher domestic demand and orders. The sector is also expected to see a boost in hiring, with 57% of respondents planning to add more workers in the next three months. However, challenges like labour shortage and high production costs persist.
The Indian Air Force commemorated its 93rd anniversary with a menu that mocks Pakistan and showcases their strength through dishes named after targets destroyed in Operation Sindoor. The validity of the posts is uncertain, but the IAF chief disclosed that they downed 4-5 Pakistani fighter jets during the operation.
Karnataka Deputy CM defends Bengaluru's traffic and has compared it to other major cities, including London. He claims that it takes three hours to travel by car in London. Shivakumar further claimed that it takes 1.5 hours to travel from the Airport to Parliament in Delhi. He also claimed that the noise around traffic in Bengaluru is because of the free media.
Robert Kiyosaki, author of Rich Dad Poor Dad, declares traditional 60/40 investment formula as dead due to the US dollar no longer being backed by gold. He advises people to find their own investment formula and shares his preference for real assets like gold, silver, and rental real estate.
Motilal Oswal maintains 'Buy' rating on Indraprashta Gas with target price of Rs 250, implying 14% upside. EBITDA/scm could see 16-20% increase due to tax rate change. Operating margins to see moderate increase with potential EBITDA margin benefits of Rs 0.7-1.3/scm. Possible net profit gains of 8-15% if tax change materializes, aided by soft crude oil prices.
Chia seeds are a popular superfood known for their high fiber and potential gut health benefits. While chia water is often recommended as a detox drink, a NHS surgeon suggests chia in yoghurt for protein and probiotic intake. Chia seeds also aid in appetite regulation, but portion control and intolerance awareness are important. Consult a professional for guidance.
Saif Ali Khan's first love and wife, Amrita Singh, had a significant impact on his career and life. Despite their age gap, she supported and guided him in the film industry. Their divorce did not diminish his gratitude towards her, as he credits her for teaching him the importance of his work and considers her a crucial factor in his success.
Tata Steel India's Q2 FY26 production grows by 7%, reaching 5.67 million tonnes. Netherlands business sees 0.6% growth. Branded and industrial products report growth, e-commerce platforms see significant growth. Tata Steel's stock rises by 37.9% in last six months.
President Trump's executive order to save TikTok has led to speculation about his son, Barron, joining the company. Trump's ex-social media producer suggests Barron take a top position, believing his father's role as the app's saviour and his own young age would keep it popular with its young users.
Ratan Tata, the renowned entrepreneur, industrialist, and philanthropist, passed away last year, leaving a void in the Tata Group. Despite his success and achievements, he was known for his compassion, humility, and love for his pet dogs. His will even provided for his beloved German Shepherd, Tito, and he transformed Bombay House into a sanctuary for strays.
The beloved childhood staple, Harry Potter, is making a comeback as a TV series with each book being adapted into a season. John Lithgow has been confirmed to play Professor Albus Dumbledore, and is excited for this defining role. The star-studded cast also includes Warwick Davis and Nick Frost. Fans are eagerly anticipating the highly anticipated series.
Gautam Adani, the second-richest person in India, experienced a sudden $13 billion boost in net worth, making him briefly Asia's richest man. With a net worth of $68.4 billion, Adani has assets and stakes in various sectors, including infrastructure, energy, real estate, and logistics.
Canara Robeco AMC and Rubicon Research are both open for subscription today, October 9. While Canara Robeco AMC is solely an Offer For Sale (OFS) by its promoters, Rubicon Research includes a new equity issuance along with an OFS from its promoter. The price band for Canara Robeco AMC is set at Rs 253–266, while Rubicon Research's is Rs 461–485.
Bengaluru police have filed a "zero FIR" against advocate Rakesh Kishore for attempting to throw a shoe at Chief Justice of India BR Gavai in the Supreme Court. The FIR, filed under several sections of the BNS, was lodged by the All India Advocates' Association. The incident, deemed "grave" by the association, has led to Kishore's suspension.
L&T, in partnership with Consolidated Contractors Group, has won a significant contract worth Rs 15,000 crore to build a NGL plant in the Middle East. The project includes all stages from engineering to commissioning, solidifying L&T's reputation as a reliable player in the energy sector.
At 27 years old, Shayne Coplan, founder of Polymarket, has become the youngest self-made billionaire with a $9 billion valuation for his prediction market platform. Despite facing challenges such as financial struggles and a federal investigation, Coplan's success was aided by investments from notable figures like Peter Thiel and Vitalik.
Two-wheeler manufacturers are opposing the government's upcoming ABS regulation, stating it could harm demand and pricing. Hero MotoCorp and Honda Motorcycle and Scooter India have appealed to the Ministry of Road Transport and Highways, citing global examples where smaller-engine bikes are exempt from this rule.
Telegram CEO Pavel Durov's extreme wellness practices, including 300 push-ups and squats every morning, ice baths, and traditional Russian sauna sessions, may seem outrageous, but they help him build self-discipline and improve his physical and mental health. These practices also have long-term health benefits, such as reducing the risk of cardiovascular events and improving cognitive function.
Rubicon Research IPO, with a price band of Rs 461-485 per equity share, opened for subscription on October 9. The issue, consisting of 1.03 crore fresh shares and 1.81 crore shares through an offer for sale, is expected to raise Rs 1,377.50 crore. The grey market is trading the shares at a 20% premium, but the official listing is expected on October 16.
The CACP recommends gradually increasing urea prices to balance soil nutrients and rationalize fertiliser subsidies. The current policy is deemed 'lopsided' as it lowers urea prices compared to other fertilisers. The commission suggests using the savings to provide affordable P & K fertilisers to address soil nutrient imbalance.
Wainwright, Alberta becomes the first Canadian municipality to condemn Hinduphobia, led by Mayor Bruce Pugh. The Coalition of Hindus of North America welcomes this as a crucial step in addressing anti-Hindu hate and bigotry. Statistics show a 227% rise in hate crimes against South Asians in Canada, highlighting the urgency of this move.
The Trump administration may not impose tariffs on generic medicines, a move that would benefit India as the US is a major market for their exports. However, there is a debate within the administration over the potential effects of tariffs on affordable generics, with concerns over higher drug prices and shortages.
Indian-American entrepreneur and Ohio governor candidate Vivek Ramaswamy recently spoke at a Turning Point USA event in Montana, addressing questions about his Hindu faith and its alignment with the Christian-dominated organization. He confidently defended his beliefs and highlighted the shared values of the country, citing the US Constitution's stance on religious eligibility for office.
India's Defence Minister Rajnath Singh met with Australia's Deputy Prime Minister and Defence Minister Richard Marles to discuss defence cooperation, industry partnerships, cyber defence, and maritime security. They signed important defence agreements, with Marles praising the partnership. Singh also thanked Australia for their support against cross-border terrorism.
The INDIA bloc is likely to name RJD leader Tejashwi Yadav as the CM's face for the Bihar election and appoint three deputy CMs from various groups - one Muslim, Dalit and extremely backward classes. The seat-sharing formula is almost finalised, with RJD contesting on 130 seats. This decision has been praised by alliance members for promoting inclusivity.
Tata Consultancy Services (TCS) will release its Q2FY26 earnings today, with a focus on performance indicators, dividend announcements, and market reactions. Despite a recent 5% surge in share price, TCS has seen a negative return of 6% in the last six months. The company may also declare a second interim dividend for FY2025-26, with October 15 as the record date for eligible shareholders.
SEBI has made changes to block deal regulations, increasing the minimum order size to Rs 25 crore and expanding the price band to 3%. The block deal windows have also been extended, with a morning window from 08:45 AM to 09:00 AM and an afternoon window from 02:05 PM to 2:20 PM. This is aimed at increasing market liquidity and encouraging smaller deals in the cash market.
British PM Keir Starmer is committed to implementing the FTA with India quickly, despite a potential year-long ratification process in the UK. The CETA will eliminate tariffs on 99% of Indian exports and aims to double trade to $120 billion by 2030. Starmer's visit to India is the largest trade mission ever sent by the UK.
Indian equity indices opened higher, with Nifty 50 and Sensex rising 0.09% and 0.11% respectively. Bank Nifty opened lower, while small and midcap stocks opened higher. Early gainers include Dr Reddy’s Lab, Zomato, and Infosys, while Tata Motors and HDFC Bank were among the laggards. JSW Cement commissioned a new unit, Lupin, to set up a manufacturing facility in Florida, and Senco Gold.
Startups are sacrificing a significant portion of their ownership to rapidly expand and gain market dominance, but this could have negative effects in the future. This is due to the pressure to grow quickly and the unpredictable fundraising market. Dilution can limit a founder's control and make future funding rounds more challenging.
Country music icon Dolly Parton assures fans of her good health after her sister's plea for prayers. She thanks fans for their support and jokes about her appearance while working on a set. Parton also opens up about her struggles this year, including her husband's passing and a kidney stone. She debunks fake AI-generated images of her and another artist.
The owner of the company behind the contaminated Coldrif cough syrup has been arrested by Madhya Pradesh police after a reward was announced for his capture. The doctor who prescribed the syrup has also been arrested, sparking criticism from the Indian Medical Association. The syrup has been banned in multiple states, and investigations are ongoing.
SBI Securities has identified top stocks for Diwali 2025, including HDFC Bank and Apollo Hospitals, with expected returns of 14% and 13.2%, respectively. They also recommend TVS Motor Company and NSDL, which have potential upside of 13.2% and 15.2%. The brokerage firm believes that FY27 will see double-digit earnings growth and comfortable valuations, with triggers like rate cuts and GST 2.0.
Elon Musk's X Corp has reached a settlement with former Twitter executives, including ex-CEO Parag Agrawal, in a $128 million severance pay lawsuit. The terms of the agreement remain undisclosed. The executives had sued Musk after they were laid off following his takeover. In a separate case, 6,000 former Twitter employees have also sued for compensation.
President Trump vowed to take aggressive action against antifa and called for assistance in identifying their supporters. He also threatened to take action against left-wing groups and donors, despite lack of evidence connecting them to recent violence. Trump met with right-wing media figures to discuss violence against conservatives.
IMF Managing Director Kristalina Georgieva says the world economy is showing resilience despite multiple shocks, with global growth only slightly slowing this year and next. However, there are still risks and uncertainties, such as trade tensions and a potential market bubble around artificial intelligence. Georgieva urges countries to boost productivity, consolidate spending, and reduce debt.
US President Donald Trump has claimed credit for ending seven wars and says he is close to settling an eighth. He said that he deserves a Nobel Peace Prize, but says the committee may find a reason not to award it to him. The Nobel Prizes, including the Peace Prize, will be announced this week, recognising contributions to science, medicine, literature, and peace.