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Tata Investment Corporation shares soared 17.5% to a record high amid heightened anticipation of Tata Sons potential listing, driven by an RBI mandate deadline. Investor optimism is further boosted by Tata Investment s stake in Tata Capital s upcoming IPO and its recent 1:10 stock split announcement.

The senior notes, issued via Vedanta Resources Finance II, will be guaranteed by parent VRL and subsidiaries including Twin Star Holdings, Welter Trading, and Vedanta Holdings Mauritius II. The deal, launched under Rule 144A/Reg S, is expected to be priced as early as September 30 with preliminary ratings of B2 (Moody s) and B+ (Fitch), and will mature in October 2032.

Under the revised directions on interest rate on advances, banks will now be allowed to reduce spread components on floating rate loans before the current three-year lock-in period, a move aimed at benefiting borrowers. This could result in faster transmission of rate cuts, leading to lower EMIs or interest outgo. Additionally, banks may offer borrowers the option to switch to fixed-rate loans at the time of interest rate resets, though this will no longer be mandatory.

Tata Capital s ₹15,512-crore IPO, the largest from the Tata group, will dilute promoter stake by 11.21%. The company will not seek further equity dilution for 2.5-3 years, as the capital raised and profits will fuel growth. The IPO is priced below unlisted shares to attract a broad retail investor base.

Overseas investors slowed Indian bond purchases in September, driven by caution over the rupee s significant fall. The rupee, Asia s worst-performing currency, hit a record low, eroding foreign portfolio returns. This led to a notable decrease in net inflows into fully accessible route government securities, reflecting investor concerns amid market uncertainties.

Mumbai s 10-year government bond yield surged to a near one-month high of 6.57% on Monday, driven by increased supply in the Centre s second-half borrowing and caution before the MPC decision. Despite this, bond dealers view the overall borrowing calendar positively, even with current low demand for long bonds.

MAS Financial Services stock declined ten percent over two months. Its June quarter net profit rose slower despite higher interest income. Asset quality showed a slight dip. The company projects twenty to twenty-five percent AUM growth this fiscal year. It also expects improved disbursements in the second half.

SBI s credit card business experienced a significant post-Covid surge, driven by its youth-focused expansion. HDFC Bank maintained its dominant position in both card issuance and transaction value. Conversely, Standard Chartered Bank faced a sharp decline in both the volume and value of its credit card operations.

Markets saw volatility but ended flat after a recent slide. L&T secured a $700 million facility. M&M sold its Sampo Rosenlew stake. Premier Energies won $19.95 million solar contracts. Reliance Power sold Indonesian coal entities. BEL secured Rs 1092 crore orders. IRFC inked two loan agreements. Tata Motors faced a rating downgrade. Godrej Agrovet received a Sebi warning.

Tata Capital s ₹15,512-crore IPO is priced at ₹310-326 per share, a significant discount to its unlisted market price of ₹735. This has disappointed investors who bought unlisted shares at much higher valuations, expecting robust listing gains. Experts caution that unlisted market prices are often speculative and do not reflect final IPO valuations, a trend observed in previous offerings.