Vaibhav Global Limited reported strong quarterly results with revenue rising 10.2% year-on-year to Rs 877 crores, exceeding company guidance. Profit After Tax surged 71% to Rs 48 crores, while EBITDA increased 28% with margins expanding 130 basis points to 10%. The company maintained gross margins at 63.5% through efficient product mix and pricing discipline. Digital revenue contributed 42% of B2C revenue, while in-house brands increased to 41% of gross B2C revenue from 31% in the previous year. The company declared a second interim dividend of Rs 1.50 per equity share with a 53% payout ratio. Unique customers reached an all-time high of 7.14 lakhs, up 5% year-on-year. The company maintains its FY26 revenue guidance of 7-9% growth. Vaibhav Global operates as an omni-channel retailer of fashion jewellery and lifestyle products across US, UK, and Germany markets.

Federal Reserve Chair Jerome Powell indicated that a December interest rate cut is not guaranteed, following the central bank's quarter-point rate reduction. Powell noted strongly differing views among committee members regarding December's direction and emphasized the Fed faces two-sided risks. The decision drew two dissents - Governor Stephen Miran favored a deeper cut while Kansas City Fed President Jeffrey Schmid opposed any reduction due to ongoing inflation. Powell cited data limitations from the government shutdown as a factor in decision-making, stating the Fed will collect available data and move cautiously. The Fed also announced it will restart limited Treasury security purchases due to money market liquidity concerns. Powell mentioned the central bank is monitoring potential job market deterioration and signs of stress among lower-income households, including rising layoff announcements.

Vaibhav Global Limited's Board of Directors approved unaudited financial results for the quarter and half year ended September 30, 2025. The company declared a second interim dividend of Rs 1.50 per equity share for financial year 2025-26, with record date set for November 6, 2025. The dividend will be paid within 30 days of declaration. The board also designated Sabaresh Kumar as Group Chief Human Resources Officer under Senior Management Personnel category. Kumar brings 24 years of HR experience and was originally appointed on August 21, 2025, with the senior management designation effective from October 29, 2025.

Federal Reserve Chair Powell stated that inflation continues to negatively impact households. He indicated that tariffs could temporarily increase inflation by 0.2-0.4 percentage points. Powell noted that interest rates are now 'meaningfully less tight' and expressed his belief that this should help prevent further deterioration in the labor market.

Gold prices fell approximately 0.9% to $3,915.23 per ounce after Federal Reserve Chair Jerome Powell indicated that a December rate cut is not guaranteed. The precious metal had been trading higher earlier in the day and briefly reclaimed the $4,000 mark ahead of the Fed's decision. The Federal Reserve delivered an expected 25 basis point rate cut, reducing rates from 3.75-4% to 4-4.25%. However, Powell's comments during the press briefing following the FOMC meeting dampened gold's momentum, as he stated that a December rate cut is 'far from' a foregone conclusion. Gold had previously reached an all-time high of $4,381 per ounce on October 20 before experiencing weakness last week.

US stocks fell sharply as Federal Reserve Chair Jerome Powell stated that a December rate cut is not guaranteed, following the Fed's 25 basis point rate cut announcement. The Dow Jones dropped 170.61 points (0.36%) to 47,473.39, the S&P 500 declined 25.10 points (0.36%) to 6,851.33, and the Nasdaq slipped 6.89 points (0.03%) to 23,764.00. Nvidia shares rose 2.2% after CEO Jensen Huang announced $500 billion in AI chip orders and plans for seven US government supercomputers. The stock has gained over 50% this year, leading Wall Street's AI rally. Apple and Microsoft each crossed $4 trillion market cap on Tuesday. Upcoming earnings from Meta, Microsoft, and Alphabet are expected to influence the AI trade that has driven the record US stock market rally.

Federal Reserve Chair Powell announced that the balance-sheet runoff will freeze on December 1, citing recent money-market tightening and reserves being barely above 'ample' levels, making continued quantitative tightening of little benefit. Powell noted that labor market data continues to show gradual cooling without significant deterioration. He emphasized that high uncertainty requires a cautious approach to future policy decisions, with any substantial strengthening or weakening in economic conditions driving policy direction.

The S&P 500 hit all-time highs and topped 6,900 following a widely anticipated Federal Reserve rate cut, with officials also deciding to stop shrinking the central bank's asset portfolio on December 1. The index rose for a fifth straight day, driven by a renewed technology advance led by Nvidia, which climbed 3% and reached $5 trillion market cap. Fed policymakers noted that job gains have slowed and risks to employment have risen, while characterizing economic growth as moderate and inflation as somewhat elevated. Despite the gains, market breadth concerns emerged as about 300 shares fell and the session showed unusually weak breadth for an up day. Bond yields rose, with two-year Treasuries increasing three basis points to 3.52%. Major corporate earnings were mixed, with Caterpillar posting stronger-than-expected results driven by AI data center demand, while Kraft Heinz lowered its sales outlook citing historic lows in US shopper sentiment. Technology companies including Microsoft, Alphabet, and Meta were set to report results after market close.

Federal Reserve Chair Powell stated that the labor market is showing signs of softening while inflation remains above the Fed's target level. He emphasized that the central bank is balancing risks without assuming economic conditions will follow a smooth trajectory. Powell made clear that a December rate cut is not guaranteed, noting that the Federal Open Market Committee is divided on the issue and monetary policy decisions will continue to be driven by incoming economic data.

Brent crude futures closed at $64.92 per barrel, marking an increase of $0.52 or 0.81% from the previous session.

India has introduced provisions for Underground Coal Gasification (UCG) for the first time in its 14th Round of Commercial Coal Mine Auctions. The round offers 41 coal mines, with 21 mines having UCG potential for underground gasification of deep-seated coal reserves. The mines include 20 fully explored and 21 partially explored properties, with 5 mines under CMSP Act and 36 under MMDR Act. The Ministry of Coal has auctioned 133 coal mines across 12 rounds with a Peak Rated Capacity of 276 MTPA. Union Minister G. Kishan Reddy launched two digital platforms: the Koyla Shakti Dashboard for integrating the coal value chain and enhancing transparency, and the CLAMP Portal for improving land acquisition processes. The Minister noted that 40% of India's coal reserves are deep underground beyond conventional mining reach, and pilot UCG projects are exempted from environmental clearance for faster implementation.

U.S. crude oil futures closed at $60.48 per barrel, marking an increase of 33 cents or 0.55% for the trading session.

Microsoft experienced an outage in its Azure cloud service that disrupted Microsoft 365 services and operations of several companies including Alaska Airlines, Starbucks, and Kroger. The outage affected Azure Front Door, a service that acts as an entry point for web applications and routes internet traffic to nearby data centers. Microsoft reported connectivity issues in portions of its internal infrastructure and network issues at Azure regions worldwide. Issue reports spiked on Downdetector shortly after 11 a.m. in New York. The incident occurred days after Amazon's cloud division suffered one of its worst outages in history, which lasted about 15 hours and disrupted hundreds of companies and consumer apps.

The Income Tax Appellate Tribunal (ITAT) Mumbai Bench rejected a ₹444.93 crore transfer pricing adjustment against Netflix Entertainment Services India LLP for Assessment Year 2021-22. The tribunal ruled that Netflix India operates as a limited-risk distributor of streaming services rather than a content provider or entrepreneurial entity. Netflix India's functions are limited to promotion, marketing, invoicing, customer support, and regulatory compliance, with employees not involved in content acquisition or technology development. The company earns a Return on Sales of 1.36% on a cost-insulated basis, consistent with a low-risk distributor profile. The ITAT upheld Netflix India's use of the Transactional Net Margin Method (TNMM) for benchmarking and rejected the Transfer Pricing Officer's hybrid royalty approach, noting internal inconsistencies in the Revenue's analysis. The ruling establishes that taxation must follow economic substance and contractual reality, providing clarity for multinational digital and OTT companies operating under limited-risk models in India.

Canada Pension Plan Investment Board has tripled its assets under management in India to approximately $22 billion over the past five years, up from $10 billion in 2020. CEO John Graham announced plans to further increase investments in India, focusing on real assets including energy, infrastructure, and real estate. The pension fund, which manages nearly $732 billion globally, cited India's economic growth rate and strong public markets as positive factors. Recent activities include investments in National Highways Infrastructure Trust, funds managed by Kedaara Capital and Accel Partners, and a joint venture with RMZ Corp for an office park project. The fund also exited a real estate platform with Phoenix Mills for 54.5 billion rupees in July. The CPPIB reported a 1% return in the quarter ended June 30, with weak US dollar offsetting gains in stocks and energy assets.

The Federal Reserve reduced interest rates to 3.75-4.00% following a divided vote among policymakers. The decision reflects concerns about rising job-market weakness while inflation remains elevated. Fed officials described economic growth as moderate with unemployment creeping higher and inflation still elevated. The vote revealed significant disagreement among members, with one favoring a larger rate cut and another opposing any reduction. The Fed is attempting to balance supporting employment while preventing inflation from rising further, operating in what appears to be a risk-management approach rather than a standard easing cycle.

The Federal Reserve reduced its interest rate to 4.00% in October, down from the previous rate of 4.25%. The decision aligned with market expectations, as the estimated rate was 4.00%.

Axis Mutual Fund's Shreyash Devalkar and Ashish Naik identify data centres, fintech, and edtech as key drivers of India's AI growth. The fund managers note that India lacks direct GPU or semiconductor plays like the US, but emerging sectors present investment opportunities. Naik states that India's AI adoption will be led by applications solving local problems rather than chipmakers. Devalkar emphasizes that policy support and private capital collaboration will be crucial for scaling India's AI ecosystem. The experts point out that global AI company valuations have reached frothy levels and recommend Indian investors focus on businesses with clear profitability visibility. They highlight the IndiaAI Mission's proposed investment of over $1 billion as providing additional momentum. The fund managers advise a measured investment approach, suggesting investors track companies integrating AI into existing processes for steady returns.

Adidas shares fell over 10% after CEO Bjorn Gulden reported that US retailers are ordering less product upfront due to uncertainty over tariffs and are heavily discounting to clear inventories. The company's North America sales dropped 5% in the third quarter, making it the worst-performing region despite currency adjustments. US tariffs are expected to reduce operating profit by 120 million euros this year, though this is lower than the initial 200 million euro estimate due to price increases and supply chain adjustments. Adidas raised prices on premium items like the Samba sneaker from $90 to $100 while avoiding increases on cheaper products. Despite global revenue reaching a quarterly record of 6.63 billion euros with 3% growth, the strong euro hurt sales by 300 million euros. The company continues recovering from ending its Yeezy partnership, with growth driven by retro sneakers and a 30% increase in the running segment.

HPCL-Mittal Energy Ltd. has suspended purchases of Russian crude oil following new US restrictions on Russian oil imports. The private refiner, a joint venture between Hindustan Petroleum Corp and Lakshmi Mittal's Mittal Energy Investments, operates a 9 million tonnes per year refinery at Bhatinda in Punjab and is the first Indian firm to officially announce suspension of Russian crude purchases after the US sanctioned Rosneft and Lukoil. The company clarified that vessels delivering previous consignments were not under international sanctions at the time of delivery. According to a Financial Times report, HMEL received at least four crude shipments worth almost $280 million this year. Russia currently supplies nearly a third of India's crude imports, averaging around 1.7 million barrels per day in 2025, with approximately 1.2 million barrels per day coming directly from the now-sanctioned Rosneft and Lukoil. Indian refiners have not placed new orders for Russian oil after the sanctions as they assess compliance requirements. Other major Indian refiners including Reliance Industries and Nayara Energy are also evaluating their Russian oil import strategies.

Airfloa Rail Technology has secured an order worth ₹3.08 crore from Modern Coach Factory in Uttar Pradesh. The order is for the supply of LHB Power Car Coach side wall sets.

Ashoka Infraways, a subsidiary of Ashoka Buildcon, has been selected as the successful resolution applicant for Shree Sainath Land & Development India Pvt Ltd. The acquisition involves paying ₹80.52 crore to creditors and will result in 100% ownership of the company. The transaction is subject to NCLT approval.

Nxtra Data, a subsidiary of Bharti Airtel, has acquired a 35% stake in AMPIN Energy C&I Sixteen Pvt Ltd for ₹5.19 crore. The acquisition is aimed at securing captive renewable power supply in Maharashtra.

John Malone, the 84-year-old billionaire cable-TV mogul, is stepping down as chairman of Liberty Global and Liberty Media effective January 1. Mike Fries, Liberty Global's CEO, will succeed Malone as chairman, while Robert Bennett will take over as chairman of Liberty Media. Malone will remain as chairman emeritus of both companies and continue as chairman of GCI Liberty Inc. He will also retain his stake in the Atlanta Braves and manage his personal venture capital portfolio. Malone cited a desire to reduce travel and time commitments while remaining one of Liberty Global's largest shareholders with a net worth of $10.6 billion. The transition is part of Malone's ongoing effort to simplify his business arrangements and step back from day-to-day leadership roles across his media and telecommunications empire.

Nifty closed above the 26,000 mark on Wednesday, ending near its immediate resistance zone and demonstrating bullish market dominance. The index closed at 26,053.90, up 0.45%, while Sensex rose 368.97 points to 84,997.13. Technical analysts identify the next key resistance range at 26,200-26,300 levels, with immediate resistance at 26,100 and support at 25,700-25,800. The index has formed a series of higher highs and higher lows, indicating a well-structured uptrend. As long as Nifty holds above 25,700, the medium-term outlook remains constructive. Bank Nifty extended its rise, positioned above short-term moving averages with support at 57,950 and 57,800, and is poised to break its all-time high of 58,577.50. Market sentiment was supported by reports of a potential US-India trade deal finalization.

India's installed power generation capacity has surpassed 500 GW, reaching 500.89 GW as of September 30, 2025, up from 249 GW in 2014. Non-fossil fuel sources including renewable energy, hydro, and nuclear now account for 256.09 GW or over 51% of total capacity, while fossil fuel-based sources represent 244.80 GW or about 49%. In the first half of the fiscal year, India added 28 GW of non-fossil capacity and 5.1 GW of fossil-fuel capacity. On July 29, 2025, renewables achieved their highest-ever share by meeting 51.5% of the country's total electricity demand of 203 GW. This milestone means India has achieved its COP26 goal of having 50% of installed electric power capacity from non-fossil fuel sources by 2030, five years ahead of schedule.

Groww, a major stock brokerage firm, is planning to launch its Rs 6,800 crore Initial Public Offering in early November with shares likely priced between Rs 95-100 each. The IPO structure includes Rs 1,060 crore in fresh share issuance and Rs 5,741.9 crore through offer for sale. Existing investors including Ribbit Capital, Peak XV Partners, and Y Combinator will sell shares through the OFS component, along with the four founders who will offload smaller portions of their holdings. Groww's operating revenue declined 9.6% to Rs 904 crore in the June quarter compared to Rs 1,000 crore in the same period last year, while profit after tax increased 12% to Rs 378 crore. Shares are currently trading at Rs 128 per share in the unlisted market.

Reliance Group has condemned Cobrapost's upcoming exposé as a malicious campaign designed to damage its reputation and crash stock prices. The Anil Ambani-led company alleges that Cobrapost, which has been dormant since 2019, is funded by entities seeking to acquire Reliance Group assets at depressed valuations. Cobrapost has scheduled a press conference to reveal alleged fund diversion worth Rs 28,874 crore and fraud worth Rs 41,000 crore. Reliance Group claims the exposé merely repackages old public information already examined by authorities including CBI, ED, and SEBI. The company describes this as an extortion attempt and has filed complaints with SEBI regarding potential irregularities in stock trading patterns. The campaign allegedly targets 5.5 million shareholders of the group.

LIC Housing Finance projects its loan book will expand to ₹3.5 lakh crore by FY27, driven by 6% annual growth in individual home loans. The company expects improving asset quality with gross non-performing assets at 2.5% and maintains strong capital adequacy at 23%. Despite net interest margin narrowing to 2.6%, the company anticipates profit and margin stability supported by its robust capital position.

Capital Small Finance Bank plans to double its loan book to ₹16,000 crores by FY29. The bank is expanding operations into Uttar Pradesh and Gujarat while targeting to maintain a return on assets (RoA) above 1.6%. The growth strategy focuses on secured MSME lending and mortgage products, supported by CASA-led deposits. The bank maintains asset quality metrics with gross non-performing assets at 2.7% and net non-performing assets at 1.4%.

Vardhman Special Steels has outlined strategic plans for capacity expansion and operational efficiency improvements. The company aims to establish long-term partnerships with original equipment manufacturers (OEMs) to drive export growth and strengthen EBITDA margins.

Satin Creditcare is targeting a diversified lending portfolio with 15% allocation to non-microfinance institution (non-MFI) products. The company plans geographic expansion into new states while focusing on credit cost control to improve return on equity (ROE) and enhance book quality.

Music Broadcast anticipates a recovery driven by digital audio growth, non-FCT advertising, and brand integration opportunities. The company expects this recovery as advertising spending normalizes across various sectors.

Fino Payments Bank has provided guidance on its path to accelerated profitability through multiple strategic initiatives. The bank plans to focus on cross-selling products to existing customers, expanding its merchant and agent networks, and capitalizing on strong transaction growth in rural and semi-urban markets.

Le Travenues Technology is positioning itself for long-term growth through AI-driven travel technology, expansion into Tier-II markets, and development of margin-rich ancillary revenue streams. The company's strategy aims to strengthen its profitability outlook through these growth initiatives.

Glottis announced plans for rapid expansion of its diagnostic and specialty healthcare network. The company intends to leverage technology-enabled delivery systems and pursue international market penetration as part of its growth strategy to achieve margin improvements.

Bank Of Maharashtra projects credit growth exceeding 20% driven by digital lending initiatives and strong momentum in retail, agriculture, and MSME segments. The bank is focusing on maintaining stable net interest margins, keeping gross non-performing assets low, and implementing technology-led efficiency measures to improve its return on equity trajectory through FY26.

Sanofi India is targeting steady expansion through its chronic and specialty drug portfolios. The company plans to launch new diabetes treatments and vaccines while optimizing costs through local manufacturing and supply chain integration.

Apar Industries is focusing on export-led expansion with an emphasis on renewable-grade conductors and high-margin cables. The company is pursuing global OEM partnerships as part of its strategy to maintain double-digit growth and stable profit margins.

NMDC has outlined its strategy to achieve 50 million tonnes per annum (MTPA) output through steel integration and digital mining initiatives for long-term value creation. The company expects volume ramp-up and improved logistics efficiency to support higher realizations and enhanced free cash flow generation.

Quess Corp has announced a strategic restructuring plan to split its operations into three distinct verticals. The company aims to achieve HR technology-led global growth and sustained margin expansion through this reorganization. Post-demerger, Quess plans to focus on automation, digital staffing, and overseas markets to drive double-digit growth.

Yes Bank suffered a loss of over Rs 2,700 crore due to investments in Anil Ambani-led financial companies between 2017 and 2019, according to a CBI charge sheet. The bank invested Rs 5,010 crore total - Rs 2,965 crore in non-convertible debentures of Reliance Home Finance Limited and Rs 2,045 crore in commercial papers of Reliance Commercial Finance Limited. Of this amount, Rs 3,337.5 crore became Non Performing Investment by December 2019. The CBI filed charges against 13 people including Ambani, Yes Bank co-founder Rana Kapoor and his family members, alleging criminal conspiracy, cheating and corruption. The agency claims Kapoor made unilateral investment decisions knowing the NCDs had no secondary market demand. The CBI alleges a quid-pro-quo arrangement where Kapoor's family companies received Rs 570 crore in credit facilities from Ambani's firms at lower interest rates, while Kapoor failed to disclose these loans as required. Some ADA Group entities were allegedly shell companies used to route funds to discharge existing liabilities.

Lenskart Solutions is preparing for its IPO debut with a market capitalisation of approximately Rs 70,000 crore ($7.946 billion) at the upper price band. The eyewear retailer's valuation metrics show a P/E ratio of 236.5 times for financial year 2025 and 202.1 times for financial year 2026. Social media users have criticized the high valuation, with some questioning whether the company sells glasses or diamonds, noting that with around 2,600 stores in India, each store is valued at Rs 27 crore. Critics pointed out that the entire Indian eyewear market is valued at $6 billion, while Lenskart's IPO is priced at $8 billion. CEO Peyush Bansal responded to valuation concerns by stating that determining valuation is not an entrepreneur's role and that his focus is on providing quality spectacles at low prices. Users also highlighted that Bansal previously bought stake at $1 billion valuation and sold to R.K. Damani at $7 billion valuation within three months, before seeking $8.5 billion through the IPO.

HPCL is pursuing a multi-asset expansion strategy that includes developing a Rajasthan refinery, growing its retail network, and integrating petrochemical operations to enhance long-term return on capital employed (ROCE). The company is also focusing on diversification into renewable energy and electric vehicle infrastructure as part of its net-zero roadmap targeting 2040.

V-Guard aims to achieve mid-teen growth through synergies with Sunflame, expansion in North India, and optimizing its premium product mix. The company expects margin expansion through cost control and manufacturing efficiency improvements in FY26-27.

Sagility India anticipates strong momentum in FY26 driven by $34 million in Annual Contract Value wins. The company is implementing a consulting-led approach for margin expansion and scalable digital delivery. Sagility is focusing on automation, analytics, and high-value healthcare outsourcing to increase its offshore mix and drive EBITDA growth in FY26.

South West Pinnacle plans to double its revenues leveraging its ₹4,122 million order book, joint ventures in Oman, and new 3D seismic and coalbed methane projects. The company expects international expansion and diversification into aquifer mapping to help maintain its 19% EBITDA margin.

Brigade Enterprises has set a target of ₹40 billion in presales and is expanding its development pipeline by 15 million square feet across South India. The company is accelerating its leasing and hospitality verticals. Brigade Enterprises expects to sustain a 20% compound annual growth rate (CAGR) in lease income through FY27, supported by housing demand and new data-centre, office, and hotel projects.

SAIL is implementing a strategy to recover margins through upgrades at its Bhilai and Bokaro facilities. The company is focusing on value-added steel growth and plans to re-enter export markets. SAIL aims to achieve cost efficiency, expand specialty steel production, and improve return on capital employed through a capex-led modernization plan.