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BusinessPhoto: ET MarketsThe Indian rupee has appreciated against the US dollar after banks complied with the Reserve Bank of India's new currency derivative rules. RBI mandates banks to maintain a 20% reserve for foreign exchange risks to curb speculative trading and stabilize the currency. Consequently, banks are reassessing their dollar hedging costs to prevent further rupee depreciation.
ET Markets·
BusinessPhoto: TOI BusinessIndian stock markets opened muted on Wednesday following a strong rally the previous day. The Nifty50 slipped below 22,700, with GIFT Nifty futures at 22,764. Investor sentiment was dampened by rising oil prices and ongoing foreign fund outflows during the corporate earnings season. Gold prices remained steady ahead of US inflation data, while oil prices climbed due to increased attacks by Yemen's Houthi rebels on Saudi Arabia.
TOI Business·
BusinessPhoto: The HinduThe Andhra Pradesh government will hold three regional conferences in Amaravati (October 16), Ananthapuramu (October 23), and Tirupati (October 26) ahead of the 31st CII Partnership Summit in Visakhapatnam on November 12-13, 2026. Earlier conferences in Visakhapatnam and Kakinada resulted in 46 MoUs. The upcoming events aim to finalize 115 MoUs with ₹79,628.04 crore investments and employment for 1,88,038 people across various sectors.
The Hindu··Andhra Pradesh
BusinessPhoto: ET MarketsThe HD Fire Protect IPO entered its second subscription day with a grey market premium (GMP) of 34%, indicating possible listing gains. The Rs 712.31-crore issue was subscribed 4.62 times on Day 1, with retail investors subscribing 3.78 times. The IPO is a full offer for sale (OFS) of 2.63 crore shares, so the company will not receive any proceeds from it.
ET Markets·
PoliticsPhoto: Hindustan TimesLucknow police have announced a Rs 25,000 reward for information leading to the arrest of influencer Shraddha Dubey, her sister Rashmi, and their driver in connection with the October 9 death of cafe owner Shiva Sharma. Sharma died after falling from a fourth-floor apartment where he lived with Dubey. Police are investigating CCTV footage and questioning associates to clarify the circumstances and roles involved.
Hindustan Times··Lucknow
PoliticsPhoto: HT WorldUS President Donald Trump and Israeli Prime Minister Benjamin Netanyahu recently discussed the possibility of attacking Iran ahead of upcoming elections in both countries. Netanyahu expressed concern over intelligence about Iran's nuclear program. Although Trump later said the US would not strike Iran before the November midterms, military preparations continue amid uncertainty. A US official noted Netanyahu's eagerness to resume attacks.
HT World·
ET Markets·
Photo: ET MarketsThe Indian rupee has appreciated against the US dollar after banks complied with the Reserve Bank of India's new currency derivative rules. RBI mandates banks to maintain a 20% reserve for foreign exchange risks to curb speculative trading and stabilize the currency. Consequently, banks are reassessing their dollar hedging costs to prevent further rupee depreciation.
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