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The Tata Group, which has had a significant business presence in the UK for several years, has been vocal about the need for support from the government to be viable.

While talks to form a consortium with financial investors are also underway, Shriram has not reached a mutually acceptable commercial arrangement with investors that may want to join its consortium. If a consortium is formed, the non-bank lender will be the lead member.

Angel One has reported a 31% year-on-year increase in revenues at 750 crore for the quarter ended September, while its profit jumped 59% to 213.56 crore during the period, reports Our Bureau. The broking firm saw a 77.4% YoY increase in its client base to 11.6 million at the end of September. The company has announced a second interim dividend of 9 per share.

Shriram City Union Finance has hiked deposit rates by 5-25 basis points across tenures starting October 14, reports Our Bureau. The highest increase of 25 bps is on deposits for 12, 18 and 24 months, which tranlates to 7%, 7.3% and 7.5%, respectively. The 60-month deposits earn 8.3%. The company has introduced an additional 10 bps benefit for women depositors and 50 bps for senior citizens.

Big Wall Street banks kick off third-quarter reporting season on Friday, with investors awaiting to see how a high interest-rate environment affects their profits. Walgreens Boots Alliance Inc rose following better-than-estimated fourth-quarter results.

U.S. data overnight showed core inflation - which excludes food and fuel prices - came in above forecasts at 6.6%, the biggest annual increase in 40 years, driven by large price gains in the services sector. Wall Street had a volatile session, after initial sell-off on the data proved short-lived with technical support and short-position covering helping stocks stage a strong rebound.

Bajaj Auto, Shree Cement, Tata Elxsi, Oberoi Realty, Federal Bank, Just Dial, Spandana Sphoorty Financial, PLastiblends and Moneyboxx Finance are among the companies that will announce their results for September 2022 quarter today.

The board meeting of Sukhjit Starch and Chemicals is also scheduled for Friday to consider and approve the sale/transfer of land, buildings and other fixed assets at Phagwara. Moreover, the RR Metalmakers will consider a preferential issue of shares.

Yet trading volume has also slumped. Daily readings are hovering around $47 billion right now, down from more than $100 billion at the start of the year, according to data tracker CoinMarketCap.com.

This decision was taken "to facilitate the industry to respond faster to the emerging market needs in terms of designing and pricing of general products and to promote efficiency in the conduct of general insurance business,," the IRDAI said.