RBI Accepts ₹24,934 Cr in G-Sec Buyback Bids

• Markets: This week, investors will watch key triggers including Q2FY25 results, Middle East geopolitical tensions, foreign fund outflows, crude oil prices, and macroeconomic data.

• IPOS: There are 4 new mainboard IPOS for this week. Find all details in our IPO section below.

• Indian stocks saw a sharp recovery in the second half of Friday's trading session on October 18, rebounding from an early weak start. This reversal led the frontline indices to end the day in positive territory, snapping a three-day losing streak.

• Banking stocks posted a notable rebound, with the Nifty Bank index closing at 52,094, up 1.57%. Metal stocks also made a strong comeback after a four-day decline, supported by China's recent funding measures and positive economic data, which lifted investor sentiment.

Axis Bank +5.74%

• Axis Bank shares surged 6% after posting an impressive second-quarter performance, with net profit rising to ₹6,917.57 crore, fuelled by strong core lending income and robust credit demand.

• Following this result, several brokerages have issued bullish recommendations on the stock.

Manappuram Finance (12.99%)

• Manappuram Finance's stock plunged by around 13% after the RBI prohibited its subsidiary, Asirvad Microfinance, along with other NBFCs, from issuing loans. This move by the Reserve Bank of India also resulted in brokerages downgrading their ratings on Manappuram Finance.

• The central bank raised concerns over the pricing policies of these NBFCs, citing that they were excessive and non-compliant with regulations.

• Banks brace for higher retail deposit outflows ahead of revised liquidity coverage ratio rules. (ET)

• Homebuying may be affected if mortgage rates exceed 9%, according to a FICCI-Anarock survey. (ET)

• India's forex reserves declined by $10.7 billion to $690 billion. (ET)

• Hotstar will be the exclusive streaming platform after the Reliance-Disney merger. (CNBC)

• RBI has lifted restrictions on JM Financial Products for providing financing against shares. (BS)

• HDB Financial Services plans to raise up to ₹12,500 crore ($1.48Bn) through an IPO. (BS)

• Reliance Infra shareholders have approved a ₹6,000 crore fundraise. (BS)

• SMPP has submitted draft documents to SEBI to raise ₹4,000 crore ($475Mn) through an IPO. (MC)

• Waaree Energies has secured ₹1,277 crore ($151Mn) through its anchor book. (MC)

• Ajmera Realty announced a preferential allotment of shares worth Rs 225 crore. (MC)

• Deepak Builders & Engineers India has raised over ₹78 crore ($9.3Mn) from five anchor investors. (MC)

This week’s mainboard IPO schedule

• Waaree Energies

  • Offering Period: 21 October - 23 October, 2024

  • Listing Date: 28 October, 2024

  • Issue Price: 1427-1503

  • Lot Size: 9

• Deepak Builders & Engineers India

  • Offering Period: 21 October - 23 October, 2024

  • Listing Date: 28 October, 2024

  • Issue Price: 192-203

  • Lot Size: 73

• Godavari Biorefineries

  • Offering Period: 23 October - 25 October, 2024

  • Listing Date: 30 October, 2024

  • Issue Price: 334-352

  • Lot Size: 42

• Afcons Infrastructure

  • Offering Period: 25 October - 29 October, 2024

  • Listing Date: 01 November, 2024

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• JSW Steel-JFE JV to acquire thyssenkrupp Electrical Steel India for ₹4,051 crore ($481Mn). (BS)

• Blackstone Group has emerged as the highest bidder for LOGOS India at ₹1,200 crore ($142Mn). (BS)

• Jindal Group is in discussions to acquire Czech-based Vitkovice Steel for ₹1,367 crore ($162Mn). (ET)

• Fullerton has acquired a controlling stake in Lendingkart for Rs 252 crore ($30Mn). (YS)

• Reliance has formed a joint venture with Mothercare. (YS)

Debt

• RBI accepted nearly ₹25,000 crore ($2.97Bn) in a g-sec buyback auction. (BW)

• Kotak Mahindra Bank is set to acquire Standard Chartered's ₹4,100 crore ($487Mn) personal loan portfolio. (ET)

• Indel Money opens a new NCD issue, offering up to ₹150 crore ($17.8Mn). (ET)

VC/Funds

• Sundaram Alternates has launched the PCOF - Series I fund. (YS)

• STPI will fund 25 startups from Tier II and III cities. (YS)