Latest Stock Market News

Rubicon Research has secured Rs 619 crore from anchor investors, including global giants like Goldman Sachs, ahead of its Rs 1,377.5 crore IPO. The pharmaceutical firm s public offering opens October 9, aiming to raise funds for debt repayment and strategic growth. The company, focused on R&D and specialty products for regulated markets, expects its stock market debut on October 16.

Prestige Estates Projects Ltd witnessed a remarkable 50% surge in sales bookings, reaching Rs 6,017.3 crore in Q2, fueled by robust housing demand. The company achieved record first-half sales of Rs 18,143.7 crore, surpassing its full-year FY25 target. Strong performances were noted across Bengaluru, NCR, and Mumbai, highlighting broad market appeal and successful project execution.

Ajmera Realty & Infra India Ltd reported a significant surge in sales bookings, reaching Rs 720 crore in the second quarter of this fiscal, a nearly threefold increase from Rs 254 crore in the previous year. For the first half of the fiscal, sales bookings climbed 48% to Rs 828 crore, indicating robust demand for the company s housing projects.

Realty firm M3M India has finished a major retail project in Gurugram. The project, named M3M Route 65, involved an investment of Rs 800 crore. It spans 4 acres and offers 5.64 lakh sq ft of commercial space. The project will become fully operational by March next year. Retail space handover begins this month.

Five Nifty500 stocks, including RBL Bank, Indiamart Intermesh, and AIA Engineering, closed above their VWAP on October 8, signaling potential bullish momentum and positive market sentiment.

Indian banks are set for growth despite global challenges. S&P Global Ratings reports banks can absorb rising credit costs. Credit growth is expected to pick up from the second half of fiscal 2026. Asset quality will soften slightly. Corporate financial health is improving, indicating banks can manage potential loan defaults.

RBI Governor Sanjay Malhotra highlighted the crucial role of the account aggregator framework and the new unified lending interface (ULI) in expanding credit access for the under-served. These initiatives aim to enhance interoperability and leverage richer financial data, strengthening the credit delivery ecosystem and fostering financial inclusion.

New banking rules for credit loss provisions will have limited impact. The Reserve Bank of India has proposed a phased implementation starting April 2027. Banks will have four years to adjust existing loans. State Bank of India chairman CS Setty confirmed the bank is technologically prepared for these upcoming changes.

State Bank of India Chairman CS Setty has urged policymakers and tech developers to simplify the Know Your Customer (KYC) process, identifying it as a major hurdle for both banks and customers. SBI is also enhancing its YONO 2.

The RBI has launched four digital payment initiatives at the Global Fintech Fest to enhance customer convenience. These include AI-based UPI HELP for payment assistance and dispute resolution, and IoT Payments for transactions from connected devices. Additionally, Banking Connect offers interoperable net banking, and UPI Reserve Pay allows users to manage credit limits for specific purposes.