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BusinessPhoto: ET MarketsJio Platforms' Rs 30,213 crore IPO, priced between Rs 1,065 and Rs 1,119 per share, opened with a 22% grey market premium (GMP). The IPO will remain open until October 23. At the upper price band, Jio aims for a valuation of Rs 10.3 lakh crore, positioning it among India's most valuable companies.
ET Markets·
BusinessPhoto: DNA IndiaUS President Donald Trump and Secretary of State Marco Rubio have indicated that the United States and India are very close to finalizing a new bilateral trade agreement. Trump mentioned the deal could be significantly different but gave no details. Rubio, visiting India, confirmed small issues remain before completion. The two countries announced a framework for an interim trade deal in February 2024.
DNA India·
BusinessPhoto: ET MarketsJio Platforms, led by Mukesh Ambani, saw its IPO fully subscribed on the first day, driven by strong demand from Qualified Institutional Buyers (QIBs). The IPO commanded a grey market premium of around 25%. Brokerages remain optimistic, highlighting Jio's leadership in telecom, improving profitability, and growth prospects in broadband and artificial intelligence (AI).
ET Markets·
BusinessPhoto: TOI BusinessThe Indian rupee rose by 29 paise to 94.62 against the US dollar in early trade, supported by foreign investments related to the Jio IPO and RBI backing. However, rising crude oil prices limited further gains. The BSE Sensex also showed strong gains despite foreign institutional investors continuing to sell shares in the domestic market.
TOI Business·
WorldPhoto: HT WorldA bipartisan advisory board to the U.S. Education Department voted 7-4 to recommend suspending the American Psychological Association's Commission on Accreditation. The recommendation follows allegations of a pervasive culture of antisemitism within psychology programs and professional settings. Critics also argue that parts of organized psychology have shifted from scientific focus to political activism, as seen in APA Division 39's recent conference emphasizing radical politics over therapy.
HT World··New York
BusinessPhoto: Mint MarketsPC Jeweller shares increased nearly 5% on Wednesday, continuing a strong rally fueled by robust Q2 FY27 revenue growth, debt repayment, and investor interest after a bulk deal. Analysts caution the stock is overbought, with support near ₹17 and resistance between ₹19 and ₹20.
Mint Markets·
ET Markets·
Photo: ET MarketsJio Platforms' Rs 30,213 crore IPO, priced between Rs 1,065 and Rs 1,119 per share, opened with a 22% grey market premium (GMP). The IPO will remain open until October 23. At the upper price band, Jio aims for a valuation of Rs 10.3 lakh crore, positioning it among India's most valuable companies.
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