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The Bonfiglioli Transmissions India IPO got 67 percent subscription by 12:00 pm on October 16. Data showed the retail portion reached 81 percent, while non-institutional investors subscribed 1.10 times. Shares currently trade at a 24 percent grey market premium. The issue stays open for bidding until October 19 for interested investors.
Persistent Systems shares dropped 5.03% to Rs 5,544 on Friday after the company reported Q2FY27 results. While revenue grew 7.8% to $487.6 million, profit fell 27.2% due to high costs. CEO Sandeep Kalra said, "We are pleased to report Q2 FY27 revenue of USD 487.6M, marking our 26th sequential quarter of growth."
Wipro shares jumped over 6 per cent on Friday after the company reported its September quarter results. While revenue rose to Rs 24,752.7 crore, profit fell to Rs 3,200.6 crore. Brokerages like Jefferies and Motilal Oswal remain cautious, as CEO Srini Pallia said the third quarter would face seasonal furloughs.
The 57th GST Council meeting held on October 8, 2026, introduced reforms to simplify tax compliance for MSMEs. The council proposed cutting penalties and raising the prosecution threshold to five crore rupees. These changes aim to fix tax machinery, reduce procedural delays, and help small businesses run without unnecessary fear.
The Rs 2,533 crore Bonfiglioli Transmissions IPO crossed the halfway mark on day two. Retail investors subscribed 0.69 times, while QIB demand remained low at 0.08 times. The issue opened on October 15 and will close on October 19, 2026. Shares are set to list on the exchanges on October 23.
Polycab India reported strong September quarter results, with net profit rising 42.6% to Rs 977 crore and revenue growing 52.8% to Rs 9,899 crore. Jefferies, Citi, and JPMorgan kept their bullish ratings after the upbeat performance. Citi raised its target price to Rs 11,600, noting that underlying demand remains robust.
Jio is set to enter a competitive market with its IPO, which marks Reliance's first offering since 2006. Unlike the 1977 issue where investors held paper certificates, modern bidders use UPI and demat accounts. Money stays in bank accounts until allotment, making the process much faster for many individual investors.
The Nifty crossed the 22,800 resistance level on 15 October, showing better buying momentum. Jigar S. Patel from Anand Rathi said, "The index must demonstrate its ability to sustain higher levels." Traders should now watch the 23,000–23,150 range, as this zone acts as a significant hurdle for the ongoing market recovery.
Tata Power plans to install rooftop solar systems across 3 lakh Bengal homes over three years. CEO Praveer Sinha said on Thursday, "Bengal unfortunately did not get into the mainstream rooftop solar when it started more than two years back." The company also discussed setting up large solar plants with officials.
Investing ₹5,000 monthly in a small-cap SIP for 20 years could help build a corpus for a five-year-old child by age 25. While a 15% annual return might reach ₹75 lakh, small-cap funds carry market risks. Total mutual fund inflows reached a record ₹32,490 crore in September 2026.
IIM Ahmedabad director Bharat Bhasker said placement prospects at top management schools remain strong despite global economic uncertainty. He noted that demand for graduates stays high regardless of market conditions. Bhasker said, "I can speak for the top five or six institutes in the country, where the impact is limited."
Kotak Mahindra Asset Management Company suspended subscriptions in two debt funds holding Yes Bank AT1 bonds on Thursday. The firm said it acted "as a prudent measure to safeguard the interest of our investors." These bonds were written off in March 2020, but the Supreme Court recently restored their value.