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BusinessPhoto: News18 Business

Sensex and Nifty Likely to Open Higher on Positive Global Cues

Indian equity benchmarks Sensex and Nifty are expected to open higher on October 16, supported by positive global market trends. GIFT Nifty rose 97.5 points to 23,085.5 early Friday, reflecting strong investor sentiment from Wall Street rebounds and gains in Asian markets like Japan and South Korea. The previous session saw Sensex surge over 1,500 points, driven by banking, IT, and Reliance Industries amid easing crude prices.

News18 Business·

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BusinessPhoto: TOI Business

ITAT Allows Rs 9.04 Lakh Leave Pay Exemption for LIC Retiree

A woman retired from Life Insurance Corporation of India (LIC) on June 30, 2020, after over 30 years of service. She received Rs 9.04 lakh as leave encashment along with other retirement benefits. While filing her income tax return, she claimed exemption on the entire leave encashment amount. The Income Tax Appellate Tribunal (ITAT) allowed the exemption of Rs 9.04 lakh, overturning the taxman's cap of Rs 3 lakh.

TOI Business·

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BusinessPhoto: Mint Markets

IDBI Bank Shares Fall After Fairfax Stake Sale Approval

Shares of IDBI Bank dropped sharply after the Indian government and LIC approved selling their 60.72% stake to Fairfax Financial Holdings for ₹52,878 crore, valuing shares at ₹81 each. The stock opened higher but fell due to profit booking. Experts say the deal could transform IDBI Bank into a diversified financial services firm offering banking, insurance, and investment services.

Mint Markets·

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BusinessPhoto: NDTV Business

DLF, PNB, Bajaj Housing Finance Report Q2 Earnings

Investors are closely watching the Q2 earnings reports from major companies including DLF, Punjab National Bank, Bajaj Housing Finance, Federal Bank, LTM, Oberoi Realty, and Tejas Networks. These results cover sectors like real estate, banking, consumer, telecom, and technology for the September quarter, providing key insights into their financial performance.

NDTV Business·

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WorldPhoto: Hindustan Times

Seven Children's Theme Parks to Open in Delhi by January

Delhi will open seven new children's theme parks between November and January, featuring unique themes like insects, peacocks, octopuses, and marine life. Developed under the AMRUT scheme, these parks include interactive sculpture play installations. Locations include Saket, Mayur Vihar, Karol Bagh, Greater Kailash-II, and Swasthya Vihar. The insect and aeroplane-themed parks will open first, with all seven operational by January.

Hindustan Times··Delhi

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PoliticsPhoto: News18 Hindi

India's Navy to Commission Indigenous Multi-Purpose Warship 'Samarthak'

Under the Make in India initiative, the Indian Navy will commission a new indigenous multi-purpose warship named 'Samarthak' on October 16 at the Karwar naval base in Karnataka. Built by Larsen & Toubro, it is the first in a series of four vessels. 'Samarthak' will support surveillance, drone deployment, weapons testing, disaster relief, and limited medical aid. Its emblem features an elephant and the motto 'Vijayartham Ekanishthata'.

News18 Hindi··Karwar

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