Indian equity markets closed in red as key benchmark indices S&P BSE SENSEX and NIFTY 50 lost 0.55% and 0.48% to close at 60,923.50 and 18,178.10 respectively due to the weak global cues as fresh worries over China’s property developer’s debt woes capped the market sentiments.
1) The Reserve Bank of India (RBI) imposed a monetary penalty of 1 crore on State Bank of India (SBI), for not complying with directions issued by the central bank with regard to fraud classification and reporting by commercial banks.
RBI has approved the re-appointment of Amitabh Chaudhry as MD and CEO of Axis Bank from January 1, 2022 till December 31, 2024.
2) Brent Crude Oil prices remained flattish at US$ 84.9 /barrel as compared to previous week's closing price.
3) Gold prices ended higher at $ 1793/ounce as compared to previous week's closing price of $ 1771/ounce.
4) Bond yields ended lower at 6.35% as compared to previous week's closing price at 6.37%.
5) Banks borrowed Rs. 1,678 crore under the Central Bank’s marginal standing facility on Oct 20, 2021 compared to that of Oct 18, 2021 when banks borrowed Rs. 806 crore.
6) HCL Tech has launched its TechBee early career program in Vietnam with plans to onboard 2,600 candidates in the next five years.
7) Granules India has received USFDA approval for Dofetilide capsules. Dofetilide is used to treat irregular heartbeats.
8) Hindustan Zinc won the ‘Industry Leadership Award - Base, Precious and Speciality Metals’ at the S&P Global Metal Awards.
9) TCS has been selected as a strategic partner by Cainz Corporation (CAINZ) to accelerate its digital transformation, improve customer experience, and drive growth.
10) Airtel announced the launch of a Video Platform as a Service offering called 'Airtel IQ Video'.
Bharti Telecom (BTL), a holding company of Bharti Airtel’s promoters is raising around Rs 1,400 crore via corporate bonds in the local money markets to help it mainly participate in the telco's ongoing Rs 21,000 crore rights issue and also refinance some high cost debt.
11) Reliance Retail, Reliance Industries’ retail arm, has acquired a controlling stake in Ritika Pvt. Ltd.
Reliance gets NCLT permission to seek creditors’ nod for proposed deal with Future Group.
Shareholders of Reliance Industries have approved the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, with less than 2% of votes cast against the proposal.
12) Godrej Properties: GRESB, an organization that provides Environmental, Social and Governance (ESG) benchmarks for real estate organizations, recognized Godrej Properties as a Real Estate Development Sector Leader globally for listed residential real estate.
13) Edelweiss Financial Services’ insurance brokerage arm Edelweiss Gallagher Insurance Brokers (EGIBL) has ceased to be its subsidiary after a transfer of majority stake to Arthur J Gallagher & Co.
14) Dr. Reddy's Laboratories has received approval for Lenalidomide capsules from the USFDA. The capsules are intended to be used to treat various types of cancers.
15) Axis Bank announced a waiver of 12 EMIs on select home loan products, and discounts on various online purchases as part of its festival offer.
16) Real estate firm Sunteck Realty Ltd on Monday said it has acquired about 110 acres on Pen-Khopoli Road, in Mumbai Metropolitan Region (MMR), to enter the second home segment.
17) Equitas Small Finance Bank (SFB) will raise up to ₹1,000 crore through a Qualified Institutions Placement (QIP) in order to fulfil the regulatory norms regarding minimum public shareholding. The promoter and promoter group have 81.75 per cent stake in Equitas SFB as on June 30, 2021.
18) Mold-Tek Packaging inaugurated its 11th manufacturing plant at Kanpur, Uttar Pradesh mainly to cater to the plastic packaging containers requirement of Kansai Nerolac Paints and other clients in the Northern Region. The pilot project was inaugurated on 17 October 2021 in leased premises at Unnao, measuring 17,500 sft with an installed capacity of 1,500 million tonnes per annum (MTPA).
19) Sheela Foam Ltd, makers of popular mattress brand Sleepwell, on Tuesday announced opening of a 100 per cent exportoriented new unit at Nandi Gaon in Gujarat. The plant will have production capacity of manufacturing 1,000 mattresses in a single day and will be expandable to produce 3,000 mattresses per day by the end of this financial year.
20) Bajaj Finserv has incorporated an Asset Management Company (AMC) under the name of ‘Bajaj Finserv Asset Management Limited’.
21) NTPC is reportedly looking to acquire around 5% in Power Exchange India Ltd (PXIL).
22) Tata Steel won in the 'Excellence in Digital Communications' category at the World Steel Association's 12th Annual Steelie Awards.
23) GAIL (India) announced its plans to build India's largest green hydrogen-making plant in 12-14 Months.
24) Larsen & Toubro (L&T) announced that it targets to achieve carbon neutrality by 2040.
L&T Technology Services (LTTS), which is eyeing $1.5 billion revenue by 2025, is going big on fresher hiring as it plans to add 2,000 campus recruits in the next two quarters. The company has already added 1,200 campus recruits between April and September 2021.
Larsen & Toubro Ltd (L&T) will be investing up to Rs 5,000 crore to implement and adopt green energy into its manufacturing and construction sites to achieve carbon and water neutrality targets by 2035-2040
25) Mahindra & Mahindra Financial Services unveiled the brand logo for 'Quiklyz' - its leasing and subscription business.
26) Hindustan Petroleum Corp Ltd chairman, Mukesh Surana, said the current 'high' crude oil prices could lead to demand destruction in the long run.
27) Mindtree Ltd has been selected as a strategic partner by Western Asset, one of the world’s leading active fixed income investment managers, to help drive innovation and differentiated experiences for the company.
28) Vodafone Idea has informed the government that it will accept the four-year spectrum payment moratorium, becoming the first telco to accept the deferred payment option provided under the telecom relief package. The cash-strapped telco has also enquired with the Department of Telecommunications (DoT) by when it will get back its bank guarantees related to spectrum payments.
Vi lost 0.83 million customers, shrinking its total mobile user base to 271.06 million, indicating the cash-strapped telco’s continuing inability to effectively combat its two stronger rivals.
29) Reliance Jio gained 0.65 million wireless customers in August, taking its gross mobile user base to 443.86 million while Airtel rose by 0.13 million to 354.19 million.
30) Multiplex operator PVR, which launched a six-screen property called PVR Maison at Jio World Drive in Mumbai ahead of the reopening of movie theatres in Maharashtra, expects a strong pickup in business in the last three months of this financial year.
31) Crystal Crop Protection Ltd, a crop solutions company, entered into a definitive agreement with Bayer CropScience to acquire Cotton, Mustard, Pearl Millet and Grain Sorghum hybrids in India. Both organizations will work together to close the transaction by December 2021.
32) State-owned NBCC (India) Ltd has bagged orders worth nearly Rs 300 crore for project management consultancy in Haryana and Rajasthan. In a regulatory filing, NBCC said the company has been awarded the work order for engagement as Project Management Consultant (PMC) for construction of phase III of BPS Government Medical College, Khanpur Kalan, Sonepat, Haryana.
33) Bandhan Financial Holdings has offered to buy Future Group's stake and acquire a controlling interest in Future Generali India Life Insurance Company-a three-way joint venture between the Future Group, Industrial Investment Trust (IIT) and Italian insurance and asset management giant Generali. The holding company of Bandhan Bank is willing to pay a control premium to buy Future Group's 34% and another 17% stake in the insurer.
34) Mutual Funds:
Mutual funds bought equity worth Rs. 4,693.18 crore as against sale of Rs. 5,114.51 crore as on Oct 12, 2021. This led to a net sale of Rs. 421.33 crore compared with a net purchase of Rs. 508.94 crore on Oct 11, 2021.
• Mutual funds bought debt worth Rs. 6,905.75 crore as against sale of Rs. 4,785.17 crore as on Oct 12, 2021. This led to a net purchase of Rs. 2,120.58 crore compared with a net sale of Rs. 5.65 crore on Oct 11, 2021.
35) TVS Motor Company has decided to set up a new subsidiary for the electric vehicle segment.
TVS Motor Company is pushing the pedal further in the electric vehicle (EV) space as its board has given the nod to set up a new company for the electric mobility business. Presently, iQube is the only all-electric product in the market from TVS. In September, the Chennai-headquartered company picked up 80 percent stake in a Swiss company EGO Movement for $17.9 million.
36) Tata Chemicals Ltd. is considering selling its U.S. soda ash business, according to people familiar with the matter, joining a string of rivals looking at similar options.
37) Private lender IndusInd Bank on Thursday informed the stock exchanges that its Board has approved the issuance of bonds worth ₹2,800 crore on a private placement basis.
38) The Bombay High Court asked Zee Entertainment Enterprises Ltd to call an extraordinary general meeting (EGM) as requisitioned by shareholders Invesco Developing Market Funds and OFI Global China Fund.
39) Wipro has signed a multi-year global strategic IT and digital deal with London - headquartered National Grid, a leading multinational electric and gas utility provider to accelerate their digital innovation journey. National Grid is one of the world’s largest utility companies, and Wipro is excited to be named as a strategic partner.
40) Biocon Biologics and Serum Institute Life Sciences (SILS) have entered into a strategic alliance that provides Biocon Biologics an asset light and accelerated entry into the vaccines segment. The near term focus would be on COVID-19 vaccines.
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