3:02 PM

FM meeting with bank leaders, FIs next week; encouraging them to increase debt to raise capital

Minister of Finance Nirmala Sitharaman is meeting with leaders of banks and financial institutions next week to resolve the debt crisis over the affected areas of the COVID-19 epidemic.

In addition, the CEOs of six financial institutions and non-bank financial institutions (NBFCs), including HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Cholamandalam Investment and Finance, Shriram Transport Finance and Tata Capital, will also be present.

1:59 PM

India IT, Business Services Market grows 6.4% to $ 6.96 bn in H1 2021: IDC

The Indian IT and Business Services market was valued at $ 6.96 billion and recorded a growth of 6.4% year-on-year in the first half of 2021, research firm IDC said Wednesday. The IT and Business Services market registered a growth of 5.1% in January-June 2020, IDC said.

“The increase in growth was mainly due to the continued focus on digital transformation and business processes in the country,” the study added.

1:56 PM

Airtel, Oracle is expanding its partnership to bring cloud solutions to business users over 1 mn

Oracle and Bharti Airtel are expanding their partnership to support digital economic growth by bringing a number of solutions to over 1 million customers.

Oracle will support Airtel’s data network to increase its cloud coverage in India. Another Airtel business will provide Oracle Cloud Infrastructure to its millions of customers including businesses. Oracle and Airtel have also established the Cloud Center of Excellence in Gurgaon with a dedicated team of experts from both companies.

1:55 PM

Paytm IPO, the largest in India, only registered 67% by Wednesday afternoon

The Indian company fintech Paytm, which first offered a public offering of up to 183 billion rupees, registered 67% by midday on Wednesday, the last day of its release, indicating a decline in the country’s largest market.

Paytm offer for 48.3 million shares received 3.3 million ads by 0730 GMT, according to stock exchange data.

12:30 PM

Latent View Analytics IPO is fully registered

The first public offering for Latent View Analytics was recorded at 1.5 to 10:54 am on the first day of order.

The company paid Rs 600-crore per share (IPO) received bids of 2.62 crore shares, versus the IPO size of 1.75 crore shares.

The secret price raised Rs 267 crore from anchor holders after giving 13,553,898 shares to 34 anchor holders for every Rs 197.

11:20 AM

The rupee drops to 74.16 against the US dollar

The Indian rupee fell by 11 paise to 74.16 against the US dollar due to the turmoil in the domestic market and the strong US dollar.

The rupee opened slightly at 74.11 and down to 74.16, down 11 from the last quarter.

The dollar index, which measures the strength of the greenback against a six-dollar basket, rose by 0.08% to 94.03.

11:15 AM

Nykaa shares the list at 79%

Shares of FSN E-Commerce Ventures, the parent company of e-commerce platform Nykaa, launched at a cost of 79.4% of their initial public offering (IPO).

FSN E-Commerce shares started selling 2,018 rupees on the open market, compared to a given price of 1,125 rupees, which resulted in the profit makers gaining a market value of 954.37 billion in India.

10:45 AM

PharmEasy demands $ 842 million IPO

PharmEasy’s medical platform provided an initial public offering (IPO) to 62.50 billion rupees ($ 842.43 million). The parents of PharmEasy may also consider another stock exchange through secrecy up to 12.50 billion rupees.

Naspers is a subsidiary of the global financial group CDPQ and the TPG business company and some of its investors.

10:15 AM

China is setting up a 4 billion euro bond agreement

China started selling euro bonds to raise 4 billion euros ($ 4.62 billion).

It raised $ 4 billion through the sale of US dollar bonds three weeks back. China’s Ministry of Finance is issuing euro bonds in three, seven and 12 installments. By issuing maritime bonds, China is trying to integrate itself with the global economic system.

It offered euro sales last year and in 2019 when Beijing sold their first euro loan in 15 years.

9:50 AM

The rise in factory prices in China has risen for 26 years

Chinese prices at the factory gates rose sharply in October 26, at a time when manufacturers are suffering from rising coal prices and rising commodity prices.

Manufacturer prices (PPI) rose 13.5% since last year, faster than the 10.7% increase in September.

The jump was boosted by higher material costs and reduced factory production. However, the problem of electricity has gradually eased since the government took action to calm the coal market.

9:25 AM

Market changes | Sensex falls

The Indian equity benchmark has begun to decline among global weaknesses. At 9:16 IST, Sensex dropped 0.54% to 60,107.87 and Nifty dropped 0.52% to 17,950.60.

Asian markets declined after rising oil prices and Chinese corporate prices raised concerns that inflation figures in the US could lead to higher interest rates. Prices for factory gates in China have risen 13.5% annually until October.

MSCI’s largest index of Asia-Pacific divisions outside of Japan and Nikkei of Japan each fell 0.2% when the long Wall Street conference came to an end and the Nasdaq entered for the first time in twelve episodes. The S&P 500 futures also fell 0.2% on morning trading.

9:00 AM

The amount of fat in the body decreases

Oil prices soared after U.S. stocks plummeted last week as inflation approaches are about to end with epidemic mitigation measures.

US West Texas Intermediate (WTI) futures crude 0.3% to $ 84.38 barrels and Brent crude future rose 0.4% to $ 85.14 barrels.

Rising global oil prices have led to a sharp rise in prices over the past few months and the most recent reports from the American Petroleum Institute have reinforced the notion that supply remains elusive.

Today is the last day of the IPO of Paytm’s parent company. Nykaa’s parent company will compile a list of shares. Alternatively, the View Analytics IPO will be unlocked for registration, and registration for the Sapphire Foods India IPO will enter its second day. Zomato, Bank of Baroda and Kalyan Jewelers have announced their results for the second quarter today.

—- Edited by John Xavier

(With comments from Reuters, PTI and other media organizations.)