DOW TIMES (ABOVE & BEYOND)

*किताबें जब सिखाती है तो नींद आती है* *लेकिन जब* *_जिंदगी सिखाती है_ तो नींद उड़ जाती है* *_🙏 प्रातः कालीन प्रणाम 🙏_*

Photo from Hemant Gupta

_*News Headlines from Business News Agencies:*_ *Business Line* 📝 India slams US move to keep IT firms out of PERM 📝 Scindia clears air, says won't allow monopoly in satcom 📝 10-year G-Sec yield hits high 7.3% on fear of more liquidity draining by RBI 📝 With liquidity in surplus, RBI increases minimum daily maintenance of CRR 📝 Cost of education, MSME, housing loans eased the most since Feb 2025 📝 TCS' Q2 numbers, global cues pull Dalal Street out of eight-week rut 📝 Jio Platforms may set IPO price band at ₹1,065-1,119 📝 Airtel Money makes LSE debut 📝 Global refining shock lifts India's diesel exports to 12-month high in Sept 📝 Strong dollar, higher import costs may weigh on rupee: RBI report 📝 Lakshmi Venu pushes for settlement along lines of TVS family partition 📝 Monetary tightening likely to keep metal prices on leash 📝 Delhi under security blanket ahead of protest demanding CEC's resignation 📝 Indian origin Navi Pillay wins Nobel Peace Prize *Business Standard* 📝 RBI raises daily CRR maintenance to 99% 📝 After FCNR(B) highs, Fx kitty shrinks by $51 bn in 4 weeks 📝 Delhi in virtual lockdown 📝 India doesn't allow monopoly: Scindia 📝 Must have tariff hikes at the right time: Airtel MD & CEO Shashwat Sharma 📝 IT firms see little impact from US move 📝 CEA: MSME-specific special mention account norms needed 📝 E-way bill generation at record high in Sept 📝 MoD to seek biggest arms buying budget hike in 10 years 📝 IT leads Nifty rebound after 8-week losing streak 📝 Jio Platforms eyes $106 bn valuation in IPO 📝 US attacks on Iran halted until Nov 3 📝 Critical minerals stockpile policy likely in a month: Mines secretary 📝 Indian-origin jurist 'Navi' Pillay wins Nobel Peace Prize *Mint* 📝 Auto firms eye breather on BS7, see road bumpy 📝 Bank cash reserve rules tightened to soak up liquidity 📝 Zetwerk looks to clinch ₹27k crore valuation in IPO 📝 Jio Platforms targets nearly $106 billion valuation in IPO 📝 Flipkart weighs a $2 billion employee share buyback 📝 Fresh fault lines appear in TVS's Srinivasan family 📝 Price swings, tax edge drive traders to commodity options 📝 Eight-week slide ends, but oil and earnings test recovery 📝 Iran, Houthis try to regain upper hand in Hormuz with new attacks 📝 Jewellers pitch real diamond's lure amid lab-grown challengers 📝 Medical device safety rules see rejig, more surveillance 📝 Rooftop solar scheme faces loan obstacles 📝 Scindia says satcom nod rests with home ministry 📝 Peace Nobel for lawyer, jurist Navi Pillay *Financial Express* 📝 Jio may price IPO at ₹1,065-1,119 📝 Stocks end longest weekly losing streak in 25 years 📝 RBI tightens daily CRR limit to 99% from 90% 📝 Indian IT firms shrug off US green card restrictions 📝 Vance's remarks on Indian IT workers 'offensive': MEA 📝 Security blankets Delhi as CJP protests loom 📝 Satcom spectrum pricing near finalisation: Scindia 📝 Airtel Money slips below IPO price in London debut 📝 Forex reserves drop by $13 bn to $735 bn 📝 Festive demand bet takes inventories to record high 📝 Power crunch turns into cost squeeze for discoms 📝 India-US trade talks on 'steady keel', says Goyal 📝 Irdai seeks commission caps implementation by April 📝 FM woos investors in Singapore with India growth pitch

India's IPO fundraising hits record $12.5 billion despite Nifty's 14% fall https://www.moneycontrol.com/news/business/markets/india-s-ipo-fundraising-hits-record-12-5-billion-despite-nifty-s-14-fall-14048008.html

Photo from Hemant Gupta

Today's News Headlines!!! *Economic Times* 📝 India 10-year yield hits Dec 2023 peak as US debt rout, oil spike hurt 📝 TCS delivers a 15% profit jump in Q2 as AI fears hang over IT stocks 📝 India's wind energy additions projected to touch 8 GW in FY26-27; Scale progressively to 13.2 GW by FY30-31 📝 RBI survey: Household inflation expectations hit 10% for next year 📝 India shuns costly Russian oil as Middle East flows recover 📝 Lifestyle accessories brand DailyObjects raises Rs 332 crore funding at Rs 1,050 crore valuation 📝 Groww attracts bulk of new broking clients as market sees muted growth 📝 US 30-year bond yield hits fresh 24-year high 📝 Keep UPI free, govt should wthdraw proposed charges: GTRI 📝 Annual pass takes a toll, transactions dip 5.2% in H1 *Business Standard* 📝 Samsung sees record $80 bn quarterly profit as AI chip demand surges 📝 GST reforms address 99% of rate, process issues, says FM Nirmala Sitharaman 📝 India developing Gross Domestic Knowledge Product to map assets: NITI 📝 ReNew signs MoU with Maharashtra for ₹70,000 crore green data centre park 📝 JSW Steel Q2 crude output rises 5% to 7.27 million tonnes, Indian ops up 5% 📝 Bio-Synergy targets £3-5 million in India sales with DNA testing kit 📝 VinFast expands India EV push with 50-plus e-motorcycle showrooms 📝 ePlane, Noida International Airport tie up to build eVTOL ecosystem 📝 Post-demerger, Vedanta declares first interim dividend of ₹5 per share 📝 CU Denver to set up Hyderabad campus, first US public univ with UGC nod 📝 Eutelsat OneWeb awaits final approvals, says India infrastructure is ready 📝 India's dealmaking broadens: 255 M&As worth $13.2 bn in Q3 of 2026 📝 Brigade Group to invest ₹40,000 cr to build realty, hospitality projects 📝 Info Edge Q2 billings rise 12.8% to ₹822 crore, recruitment segment grows 📝 Manufacturing adds 1.4 million jobs as investment grows in FY25: Mospi 📝 Power Ministry sets market-rate norms for transmission land compensation 📝 Nokia pivots to Nvidia-backed AI radio access networks for India 📝 Centre to cap trade margins on non-scheduled cancer drugs at 30% 📝 Home-cooked meals get 10% dearer in Sep on higher onion, oil, LPG prices 📝 TCS onboards 10,000 freshers in Q2 FY27; plans to hire on demand 📝 Govt to release consultation paper on AI regulations in 30 days: Vaishnaw 📝 Life insurance NBP jumped 21% in Sepember; non-life premium up 6% *Financial Express* 📝 Modi seeks global mechanism to check cyber fraud, deepfakes 📝 EMS bags Rs 130 crore sewerage order from Jodhpur Municipal Corporation  📝 Strongest El Niño since 1950 to peak in Dec: UN weather body 📝 GST Council proposes 5% GST option for EV passenger transport, rentals 📝 Rate cuts lower average GST rate to 10.8%  📝 IRB Infrastructure Developers toll revenue surges 24% to Rs 773 crore in Sept 📝 Apparel market pegged to hit $146 bn by 2029 📝 WTO sharply raises 2026 global trade forecast to 3.9% *Mint* 📝 Personal loans rise 32% in Q1 FY27 📝 India pushes climate finance at Pre-COP31 📝 Nandini plans 120 new Bengaluru parlours after Amul metro row 📝 Bank of Baroda becomes only PSU bank after SBI to enter pension fund business 📝 US suspends visa program for Indian IT firms citing abuse 📝 India, Singapore explore 3,000-km power transmission corridor via Southeast Asia 📝 FPI selling accelerates in Oct; ₹31,000 crore withdrawn in 4 sessions 📝 DailyObjects raises ₹332 crore led by Xponentia, others 📝 Honeywell to accelerate engine deliveries to HAL for trainer aircraft 📝 Jio unveils 1,600-satellite LEO network plan at India Mobile Congress 2026.

Nasdaq falls 1% as AI trade stumbles following OpenAI revenue setback https://www.cnbc.com/2026/10/07/stock-market-today-live-updates-.html?__source=androidappshare

FII Selling: ₹28,000 crore sold by GQG in 12 months across Adani, other stocks - Details here https://www.cnbctv18.com/market/gqg-partners-selling-spree-adani-group-stocks-enterprises-green-power-itc-gmr-patanjali-jsw-energy-share-price-stake-sale-value-20007521.htm Click here to download CNBC TV18 app

BREAKING GST NEWS 🚨 🇮🇳 *57th GST Council Meeting – Top 20 BIG Updates!* 📅 8th October 2026 | New Delhi | Chaired by FM Nirmala Sitharaman 🔥 Major GST 2.0 Reforms: Big Relief for Taxpayers, MSMEs, Exporters & Businesses! ✅ TOP 20 KEY HIGHLIGHTS 1. 🚫 GST Arrest Powers to Be Removed: Major relief for taxpayers as the Council announces removal of GST officers' arrest powers. 2. ⚖️ Prosecution Threshold Raised to ₹5 Crore: Threshold increased from ₹1 crore to ₹5 crore, reducing criminal prosecution exposure. 3. 🧑‍⚖️ Minimum Punishment to Be Abolished: Courts will have discretion to impose imprisonment, fine or both, depending on the case. 4. 💰 General GST Penalty Reduced: General penalty proposed to be reduced from ₹25,000 to ₹10,000. 5. 📢 ₹10,000 Minimum Threshold for GST Notices: Proposal to avoid issuing show-cause notices for tax demands below ₹10,000. 6. 🛡️ Greater Protection for Genuine Taxpayers: Proposed safeguards for late filing, bona fide errors and delayed payments, with tax, interest and proportionate penalties. 7. 🔓 Decriminalisation of GST Offences: Proposal to decriminalise nine offences and relax provisions concerning 24 others. 8. 📋 Mandatory Pre-Notice Intimation: Proposal for prior communication with taxpayers before issuance of formal GST demand notices. 9. 💸 Faster GST Refunds: Measures approved to accelerate refund processing and improve business working capital. 10. 🏭 Major Relief under Inverted Duty Structure: Refund of accumulated ITC to include input services for credit availed on or after 1st November 2026. 11. 🏗️ Refund Benefit on Plant & Machinery: Refund mechanism extended to plant and machinery at 1/60th of eligible credit per month for credit availed on or after 1st April 2027. 12. 🏥 ITC on Employee Insurance: Input Tax Credit approved for health and life insurance provided to employees. 13. 📡 ITC on Telecom Towers & Pipelines: ITC benefit extended to telecommunication towers and pipelines laid outside factories. 14. 📦 ITC on Free Samples & Expired Stock: Credit benefit announced for free samples and expired goods required by law to be destroyed. 15. 🚚 Major Reform in Goods Movement Checks: Consignments will generally be checked at origin and destination rather than repeatedly across states. 16. 🚨 Vehicle Stoppage Only on Specific Intelligence: Prior authorisation by an officer not below Joint Commissioner rank required for intelligence-based vehicle stoppage. 17. 🖥️ Faster & Automated GST Registration: Simplified registration and greater automation intended to reduce compliance burden. 18. 🛒 Relief for E-Commerce Sellers: Proposal to allow small sellers to use e-commerce platform warehouses as registered places of business in states without their own premises. 19. 🔄 Invoice Matching & ITC Automation: Proposals for improved invoice matching and automated ITC processes to address fake credit and mismatches. 20. 📅 No GST Rate Changes in 57th Meeting: Council decides to consider rate changes annually at a dedicated meeting, ensuring greater predictability.

*HCLTech*: The company opened a new regional headquarters in Sandton, Johannesburg, including an AI Center of Excellence to showcase AI solutions and develop local talent. (Neutral) *Jubilant FoodWorks*: The company reported Q2 FY27 consolidated revenue of ₹2,608.7 Cr, up 11.9% YoY, while Domino’s India posted 4.1% LFL growth and added 88 stores to reach 2,601. (Neutral) *Advanced Enzyme Technologies*: The company completed extinguishment of 8.88 lakh equity shares bought back from the open market, reducing paid-up capital to ₹220.52 Cr from ₹222.30 Cr. (Neutral) *Indian Railway Finance Corporation*: The company will consider Q2 FY27 financial results and an interim dividend at its October 15 board meeting, with October 23 set as the record date. (Neutral) *Jeena Sikho Lifecare:* Oregano Life sold 6.9 lakh shares at Rs 420 per share. (Neutral) *Ratnaveer Precision Engineering:* Nileshkumar Farshuram HUF sold 8 lakh shares at Rs 340 per share. (Neutral) *Maithan Alloys*: The company acquired a further 0.03% stake in HFCL for ₹10.44 Cr through the purchase of 3,97,251 shares. (Neutral) *Veranda Learning Solutions*: The company announced allotment of 9.65 Cr shares of J.K. Shah Commerce Education to VLS shareholders in a 1:1 ratio pursuant to the composite scheme of arrangement. (Neutral) *Jubilant Pharmova:* Board to meet on Oct. 12 to consider raising funds via NCDs. (Neutral) *Sun Pharma:* Board to meet on Oct. 12 to consider raising Rs 15,000 crore. (Neutral) *Torrent Power:* Step-down arm Torrent Saurya Urja 2 terminates 300 MW wind PPA with SECI; to pay Rs 40 crore for termination. (Neutral) *Prima Plastics*: The company reported an inter-se transfer of 29.02 lakh shares among promoter-group members through a gift, with aggregate promoter-group holding remaining unchanged. (Neutral) *Bright Brothers*: The company completed the merger of Bright Brothers LLC with Sintex Logistics LLC, with the surviving entity renamed Bright Composites LLC. (Neutral) *Indo Thai Securities*: The company allotted 235 secured NCDs aggregating ₹2.35 Cr, carrying coupons of 9.50%–9.90%. (Neutral) *Batliboi*: The company approved conversion of a ₹15 Cr unsecured loan into equity and conversion of preference shares into equity, involving issuance of additional shares at ₹113.50 per share. (Neutral) *Ola Electric:* Board Approves ₹1,000 Crore Rights Issue At ₹27/Sh, Record Date Set For October 13. (Neutral) Stocks added in Short-Term ASM Framework: Jaykay Enterprises, Krishna Defence & Allied Industries. Stocks excluded From ASM Framework: Optiemus Infracom, Shanti Gold International, Whirlpool of India. *ASK Auto*: Rajasthan GST Officials Conduct Inspection/Search at ASK Automotive's Bhiwadi Unit. (Negative) *Allcargo Terminals:* September Total Volumes Down 7% YoY & Down 6% MoM At 61,800 TEUs (Negative)

*🌹🇮🇳India Daybook – Stocks in News* *Godrej Properties:* BMC Partners With Company & RC Group To Develop First Phase Of Bayside Promenade At Bandra Bay. (Positive) *Maharashtra Seamless Ltd:* Board approves demerger scheme on 07 Oct 2026, appointed date 01 Oct 2026 (Positive) *Tata Power:* Partners with Norway’s Ocean Sun to Bring Innovative Membrane Based Floating Solar Tech to India. (Positive) *GPPL:* Containers at 192,000 TEUs vs 164,000 TEUs, up 17.1% YoY. (Positive) *PNB Housing Finance*: The company received a CRISIL AAA/Stable rating upgrade from AA+/Stable, giving it AAA ratings from all four major domestic rating agencies. (Positive) *Matrimony. com*: The company reported Q2 FY27 consolidated billings of ₹1,310.9 Cr, up 10.7% YoY, while H1 FY27 billings rose 9.2% YoY to ₹2,671.1 Cr. (Positive) *Fino Payments Bank*: The company reported September average deposits of ₹2,794 Cr, up 13% YoY, while loan referral disbursals surged 223% YoY to ₹278 Cr. Digitally active customers rose to 64.9 lakh. (Positive) *ITCONS e-Solutions*: The company received a ₹30.31 Cr contract from RGNIYD for deployment of 79 resources for one year. (Positive) *Sonata Software*: The company received the 2026–27 Microsoft AI Business Solutions Inner Circle Award, marking its sixth such recognition. (Positive) *Mukka Proteins*: The company’s CARE rating outlook was revised from Negative to Stable, supported by improved Q1 FY27 operating performance, higher global fish meal prices and consistent demand. (Positive) *Midwest*: The company received a DGMS prohibitory order restricting mineral extraction and employment at its Chimakurthy granite mine following a mine-side collapse. No injuries or fatalities were reported. (Positive) *Tinna Rubber & Infrastructure*: The company remitted the second tranche of US$0.4 million, or approximately ₹3.85 Cr, as a loan to its South African JV. (Positive) *Varun Beverages*: The company will source solar power from Jager for its Uttar Pradesh manufacturing units. (Positive) *Voltamp Transformers:* Commences commercial production at Vadodara unit for manufacturing power transformers. (Positive) *Tata Steel:* India production volume up 10% YoY to 6.21 Mn tonnes; India deliveries up 8% YoY to 5.97 Mn tonnes in Q2. (Positive) *PC Jewel*: Consolidated Revenue (+28% YoY) in Q2 FY27, reflecting strong business momentum. (Positive) *Niva Bupa Health:* September premium at Rs 789 crore, up 33.1% YoY. (Positive) *PNGS Gargi:* Q2 Revenue Up 16.21% YoY, EBO Sales Share Rises to 18.30% (Positive) *Star Health:* September premium at Rs 1,763 crore, up 19.6% YoY. (Positive) *IRM Energy:* CNG stations hit 153, EBITDA margin jumps to 19.0% in Q1FY27 (Positive) *ICICI Lombard General:* September premium at Rs 2,196 crore, up 13.7% YoY. (Positive) *JTL Industries:* Goldman Sachs Investments Mauritius bought 19.71 lakh shares at Rs 82.03 per share. (Positive) *Hindalco:* Novelis: Produces first coil at greenfield aluminium rolling and recycling plant in Bay Minette, Alabama (Positive) *Paradeep Phosphates:* Zuari Maroc Phosphates, promoter, bought 2.87 lakh shares. (Positive) *Confidence Petroleum India:* Confidence LPG Bottling, promoter group, bought 28 lakh shares. (Positive) *Kanoria Chemicals:* Company expands capacity with new 12 TPD Triacetin facility in Gujarat. (Positive) *Mukka Proteins*: The company received USDA NOP Inputs Attestation from ECOCERT S.A.S., France, confirming that its Eco Sphere Organic Fertilizer is suitable for organic farming. (Positive) *Bank of India:* Bank raises RBLR by 25 bps to 8.35 percent after RBI repo rate hike. (Neutral) *IndiGo:* Pune-Bhubaneswar daily direct flights to begin from October 25. (Neutral) *Senco Gold*: Revenue Grows 31% YoY, Retail Revenue Up 29%. (Neutral) *SAIL*: The company’s CARE AA rating outlook was revised to Positive, while short-term facilities and commercial paper were reaffirmed at CARE A1+. (Neutral)

Looks like the Govt is going to blink on the MDR fee issue! Implementation is *likely to be postponed from 15th Oct to 1st Jan, and businesses with a turnover below ₹40 lakhs may be exempt.* (BS) Enjoy the festival shopping, folks! 🎉

*Stocks, bonds in delicate dance - A sea of red swept across global stocks on Wednesday as the bond market selloff picked up again and lifted long-dated US yields to 24-year highs, although a strong 10-year Treasury auction and minutes of the Fed's last policy meeting eased some of the upward pressure on borrowing costs. Japan -1%, South Korea -2%. Europe -1%, UK -0.8%. S&P 500 and Nasdaq -0.2%, Dow -0.7%. US dollar back up to Monday's 17-month high, euro at 17-month low. Euro/sterling down for 9th day, longest losing streak since Feb 2021. European bonds back under pressure, French/German spread widens 10 bps ⁠to 138 bps. US 10y and 30y yields touch fresh 24-year highs but cool after 10-year auction draws highest demand since 2016. US mortgage rates highest since 2023. Oil slips - Brent -0.5%, WTI -1.3%. Gold -1%, other precious metals -3%.*

*RBI Governor* RBI Says - FY27 Core Inflation View Seen At 4.4% (Previously At 4.3%) RBI Says - Monetary Policy Acts By Curtailing Second Round Effects RBI Says - Difficult To Distinguish Between Second Round And Indirect Impact Of Supply Side Pressures RBI Says - Service Sector Activity Remains Stable And Broad-Based RBI Says - States Manufacturing Sector Is Performing Strongly Despite Rising Costs. RBI Says - Slight Decrease In Kharif Sowing Compared To Last Year Due To Irregular Southwest Monsoon. RBI Says - Future Rate Hikes Depend on Growth and Inflation Trends RBI Says - Policy Measures May Involve Rate Increase Or Pause Based On Current Conditions. RBI Says - Fixed Investment Continues To Be Robust RBI Says - MSF rate revised to 5.75% from 5.50% previously RBI Says - Revise GDP growth estimates upwards by 0.4%

Photo from Hemant Gupta