Funding & Investments
The Indian market witnessed significant investment activity. Airbound successfully secured $8.65 million in a funding round. Furthermore, there was notable
funding for startups like FableStreet, Muttley Crew, and Orange Sugar. Cimcon Software also gained substantial support, with Niveshaay leading a funding round that garnered Rs 52 crore. These investments span various sectors, signaling the continued interest of investors in the Indian market. India's mobile exports saw a substantial increase of 95%, reaching $1.8 billion, signifying growth in manufacturing. In addition to this, the European Investment Bank (EIB) decided to inject $60 million into the India Energy Transition Fund, a strategic move emphasizing commitment to sustainable energy solutions. The Anant Raj group raised Rs 1,100 crore via share sales, showcasing confidence in the market, while Midwest IPO secured Rs 135 crore from anchor investors, revealing positive sentiment from market participants.
Acquisitions & Deals
Several noteworthy acquisitions and strategic partnerships were announced. QRG divested its stake in Awfis for Rs 141 crore. The Competition Commission of India (CCI) approved Vedanta's acquisition of Jaiprakash Associates. Moreover, the CCI gave a green light to Capgemini's acquisition of Cloud4C, indicating a focus on cloud technology adoption. KFin Tech acquired a stake in Ascent Fund Services, extending its service offerings. L&T and Foxconn partnered on semiconductor wafer manufacturing, reflecting the strategic push into domestic manufacturing. Jindal Stainless launched steel salt tipper trailers, broadening its product portfolio, while BonV Aero achieved a significant BVLOS (Beyond Visual Line of Sight) flight milestone, showing advancement in drone technology.
Market Dynamics
The financial markets experienced notable movements and trends. Maruti Suzuki recorded record bookings and festive sales, signifying robust consumer demand. Gold and silver prices climbed to record highs amidst the festive season, showing a positive sentiment towards precious metals. In the meantime, India's mobile exports surged by 95%, culminating in a total value of $1.8 billion, signaling a rise in manufacturing capabilities. Also, PSU banks outperformed private banks in credit growth, demonstrating a shift in lending performance. The IMF raised India's GDP forecast to 6.6% for fiscal year 2026, reflecting optimistic economic projections for the country. Furthermore, the maritime industry anticipates investments totaling Rs 80 lakh crore.
Regulatory & Legal
Several regulatory and legal decisions impacted businesses. The Supreme Court and Gujarat High Court intervened in several matters. The Gujarat High Court considered extending the ITR filing due date for auditable assessees. The Supreme Court issued replies regarding the Sahara-Adani property deal and questioned Mahua Moitra on an FPI disclosure plea. Moreover, the limestone was classified as a major mineral, thereby facilitating mining activities. The NCLAT addressed the Bhagyodayam probe order and also provided a stay on the Sebi ban order for Man Industries. In addition to this, the Labour Ministry and Zomato collaborated on job opportunities within the gig economy. Also, the SC extended the stay in the TASMAC liquor scam ED probe.
Other Developments
Several other developments captured attention. India resumed postal services to the US on October 15th. Discussions around the E-20+ roadmap and tax cuts were ongoing within the ethanol industry. Tech Mahindra's Q2 net profit dipped by 4.44%, settling at Rs 1,194.5 crore. UNIBIC Foods appointed Ajay Bathija as CEO, reflecting leadership changes. Zomato joined a coalition for green delivery vehicles, indicating the company's commitment to sustainability. Jaro Education expanded to Tier-II cities, and Andaman was being explored as a potential global internet data hub.
