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Jefferies named ICICI Bank, SBI, and Axis Bank as top picks as rising interest rates could boost bank earnings. Analysts Prakhar Sharma and Vinayak Agarwal said the Reserve Bank of India’s shift to “calibrated tightening” means rates may rise by 75–100 basis points, helping banks with many policy-linked loans.
The Securities and Exchange Board of India eased call recording rules for research analysts on October 23, 2026. Analysts no longer need to record calls with institutional investors to reduce compliance burdens. However, they must keep other interaction records for five years. These new provisions will start from November 8.
Jio Platforms’ ₹30,213-crore IPO attracted demand exceeding ₹7 lakh crore, setting a global record for investor participation. The issue closed on Friday and was subscribed 22.2 times. Many investors showed interest, with 1.38 crore applications received. The company plans to use the proceeds to repay borrowings before shares list on October 28.
EAAA India Alternatives raised Rs 360 crore from anchor investors on Friday ahead of its Rs 1,200-crore IPO. The public issue opens on October 26 with a price band of Rs 1,585-1,665 per share. Many global and domestic funds participated in the anchor book before the offer closes on October 28.
Strong macroeconomic fundamentals and policy interventions anchor the Indian economy against global headwinds, the RBI Bulletin said on Friday. Rising inflation from the West Asia crisis and trade tensions remain concerns. However, the report noted, "Navigating this environment, the Indian economy has been anchored by solid macroeconomic fundamentals and policy interventions."
Indian government bonds logged their longest losing streak in 30 years as the 10-year yield rose to 7.47%. Rising crude oil prices and higher US yields kept market sentiment weak. Meanwhile, India’s forex reserves fell $65 billion in six weeks, as the rupee also fell for a second consecutive session.
Tata Motors returned to profit with ₹1,254 crore in Q2 earnings as commercial vehicle sales rose 42%. The company reported revenue of ₹25,338 crore, up 36% year-on-year. Managing director Girish Wagh said, "FY27 is likely to end with double-digit growth for the overall industry," despite rising commodity costs and inflation.
SEBI proposed an automatic approval route for stock exchanges and depositories to handle core activities and deploy funds without prior consent. This move aims to ease compliance burdens for market institutions. The regulator invited public comments on the framework until November 12, hoping to improve the ease of doing business.
The Reserve Bank of India injected Rs 2.5 lakh crore into the banking system, raising questions about its monetary tightening push. An SBI report on October 23 said this move is hard to reconcile with the bank's inflation goals. Many now wonder how the central bank will balance these competing priorities.
The RBI Bulletin released on October 23, 2026, said food prices saw a broad-based increase in October. Data showed rural inflation got higher than urban areas. Officials noted, "Among cereals, rice and wheat prices continued to increase." Many states recorded inflation between 4% and 6% during the month of September.
Dr Reddy's Laboratories reported a 36 per cent fall in consolidated net profit to Rs 925 crore for the second quarter of FY27. The company said lower lenalidomide sales in North America hurt results. Co-chairman G V Prasad said, "We continued to improve the overall health of our business."
The rupee fell 12 paise to close at 94.93 against the U.S. dollar on Friday. Rising crude prices and sluggish domestic equities pressured the currency. Anuj Choudhary said, "We expect the rupee to trade with a slight negative bias on elevated crude oil prices amid escalation of tensions."
The Nifty 50 fell 0.39 percent to close at 22,600 on Friday, October 23. The index stayed under pressure as India VIX hit 17 and crude oil prices rose. Experts said the Nifty 50 faces further downside if it fails to defend the 200-week EMA during the upcoming monthly expiry week.