Reserve Bank of India officials met with primary dealers to address bond market challenges. Elevated yields and tight liquidity were key discussion points. Meanwhile, the Indian rupee saw gains, closing stronger against the dollar. This strengthening was attributed to state-run bank dollar sales and central bank intervention in offshore markets. Foreign investors continued to sell Indian equities.
Lenskart's 7,278-crore IPO saw a robust subscription of 28.26 times on its final day, attracting significant investor interest despite concerns over its valuation. Anchor investors and marquee names like Radhakishan Damani boosted sentiment, leading to strong demand across all investor categories.
Adani Enterprises plans to raise up to 25,000 crore via a rights issue to fund debt repayment and capital expenditure, primarily in its airport business. The company reported an 84% year-on-year net profit increase to 3,199 crore for the September quarter, boosted by an exceptional gain from a stake sale in Adani Wilmar.
State Bank of India reported a significant 10% year-on-year profit increase to 20,160 crore in the second quarter. This performance surpassed market expectations, driven by robust growth in retail, agriculture, and MSME advances. The bank also benefited from a profitable sale of its Yes Bank stake.
