Jindal Supreme market valuation at ₹653.05 crore
India's monsoon rainfall deficit now stands at 15 percent, raising concerns about agricultural productivity. Kharif crop sowing is largely complete, which has partly mitigated the impact of this deficit. Regions like South and East India have experienced the most significant rainfall drops, affecting water availability. Reservoir storage is at 71 percent of total capacity, but southern reservoirs are notably lower at 52 percent.
India experienced accelerated business growth in September due to increased demand in manufacturing and services sectors. The HSBC flash India Composite Purchasing Managers' Index rose significantly from August, indicating expansion. However, export growth slowed, impacting overall economic performance negatively. Hiring in the services sector also declined, limiting job growth prospects. Input-cost inflation eased, providing some relief to businesses in this competitive environment.
Poompuhar: Underwater exploration at Poompuhar, a 2,000 year old Chola port city, has found over 200 potsherds and the first torpedo jars linked to Persian Gulf trade dating to the 3rd century BCE. Glazed Iranian pottery, Gangetic ware, and a 40m stone structure add proof of erosion and tsunamis burying this ancient Tamil trading hub.
Innodata shares surged 14.6% after a report linked the company to Meta’s Muse AI assistant, though the connection remains unconfirmed. Strong revenue growth, AI demand, leadership changes and valuation concerns are shaping investor interest in the stock.
Indian government bonds remained stable early on Wednesday, supported by lower oil prices amid selling pressure. The benchmark 10-year yield hovered around 7% after declining slightly from previous levels. Analysts noted that Indian bonds have outperformed US Treasuries amid global market volatility and oil price fluctuations. Expectations for an interest rate hike at the Reserve Bank of India's upcoming policy meeting have increased due to rising inflation concerns.
In a groundbreaking financial achievement, Vietnam's State Treasury recorded a staggering 26.55 trillion dong in its latest government bond auction, surpassing last week's figures of 564 million dollars by a large margin. An impressive 86% of the bonds on offer were sold, helping the government inch closer to its ambitious target of raising 500 trillion dong this year, with over 276 trillion dong currently secured through bond sales.
Republican candidates in competitive US midterm races are increasingly distancing themselves from Donald Trump on issues such as immigration, the Iran war and campaign branding as his approval ratings weaken. The challenge is balancing that separation with the need to retain Trump’s core supporters, making the strategy more about selective independence than a full break with the president.
AI-generated political ads are proliferating ahead of the US midterms, with candidates and outside groups using deepfakes and synthetic video to attack rivals and draw attention. While the tools make campaign content cheaper and more creative, experts warn they could further erode trust by making voters doubt both fake and authentic political material.
UBS upgraded Bajaj Finance to Neutral and L&T Finance to Buy, citing improving asset quality and a revival in unsecured lending. The brokerage sees scope for re-rating as personal loan growth accelerates, liquidity remains supportive and funding conditions stay favourable. It also expects improving return on assets across select NBFCs.
Bajaj Finance shares jumped 3% on Wednesday following bullish brokerage calls. Global brokerages Jefferies and UBS issued positive outlooks, with Jefferies maintaining a Buy rating with a target of Rs 1,280, while UBS upgraded the stock to Neutral with a target price of Rs 1,100.
