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“The whole penetration story continues to play in the mutual fund industry and this is one of the reasons that is driving flows through the SIP route. Besides, SIP has become an alternative investment avenue, and has done well over a 3-year period,” said Sameer Bhise, banking analyst at JM Financial Institutional Securities.

The spot forex reserves are however sharply down from $607 billion in end-March and depleted by $109.58 billion from $642.45 billion seen on September 3 last year. The foreign exchange reserves had fallen to their lowest level since July 2020 to $532.66 billion for the week ending Sep 30.

Meanwhile, Lanco Power was admitted for insolvency resolution on October 10, 2019. In June 2021, the company was ordered to be liquidated in the absence of any viable revival plan. When the liquidator had called for the claims from all the creditors, MSEDCL had also approached him to admit its claim of over Rs 752 crore, including penalties and interest.

“It (resolution plan) shall be binding on the corporate debtor, its employees, members, creditors, including the central government, any state government or any local authority to whom a debt in respect of the payment of dues arising under any law for the time being in force is due, guarantors and other stakeholders involved in the resolution plan,” the NCLT said in a 50-page order.

​Aditya Birla Capital is reportedly looking to buy out 51% stake that Reliance has in the joint venture with Nippon Life of Japan.

One of the people said while the CP Group is still in the fray, there are chances Reliance may be the only one to place the final bid, which will make it an exclusive offer. "With Reliance, the deal will be a cakewalk with no pressure from domestic retail lobbies and Reliance will absorb all employees," he said.

The manufacturer of the Pulsar and Platina motorcycles sold almost 1.2 million vehicles during the quarter, 23% more than the preceding quarter and 1% higher than a year earlier. Domestic sales almost doubled quarter-on-quarter to more than 694,000 units. Exports declined 21% sequentially to 581,000 units as the global economy faces headwinds.

To be sure, the MPC deliberated upon its policy approach before the publication of the September consumer inflation print, which climbed due to persistent increase in food prices through a period of extended monsoons.

Insurance regulator Irdai has imposed a Rs 3-crore penalty on Max Life for its share sale deal with Axis Bank, which the regulator said circumvented regulations on commission limits. The penalty is against three charges - misrepresentation to the regulator, higher-than-permitted compensation to the corporate agent, and not following fair market value in share transactions.

Insurance sector regulator Irdai has granted final approval to HDFC Life Insurance Company Ltd (HDFC Life) to merge Exide Life into the company. In January this year, HDFC Life acquired 100 per cent stake in Exide Life Insurance Company from its parent firm Exide Industries for Rs 6,687 crore in order to increase its presence in the south India market.