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BusinessOn Friday, the Indian stock market rebounded sharply, ending an eight-week decline. The Sensex and Nifty gained significant points, supported by easing oil prices and strong buying in IT stocks. The Rupee strengthened against the US dollar as the dollar weakened, and bond yields cooled. However, concerns remain over high crude prices and US bond yields.
Economic Times·
SportsIndia leads the West Indies 1-0 in the five-match T20I series after winning the first game by 8 wickets. The second T20I match is underway with focus on India's playing XI as they aim to double their lead against the Windies.
NDTV Cricket·
PoliticsPakistan has spent nearly $6 million on a Court of Arbitration case against India in The Hague, including India's share, despite facing economic challenges and austerity measures. The 2026-27 budget allocates over half of the Water Resources Division's $15.3 million budget to the Pakistan Mission for Indus Waters, with only $1.2 million for domestic water priorities. Nearly $7.2 million is listed under general operating expenses, partly for international litigation.
Hindustan Times·
BusinessAnand Rathi Wealth reported a 22% year-on-year increase in Q2 business profit, reaching Rs 122 crore. Revenue grew by 16%, and assets under management rose to Rs 1.08 lakh crore. The company also declared a dividend of Rs 4 per share, with quarterly net inflows hitting a record Rs 4,186 crore.
ET Markets·
BusinessTata Consultancy Services (TCS) has increased its bench strength and subcontracting both in India and overseas to prepare for anticipated demand. The company hired 4,258 employees sequentially, raising its workforce to 598,056. TCS stated the rise in subcontracting is mainly to align skills with client needs, with visa costs possibly contributing. This was disclosed during the company’s earnings call.
Hindu Business··Chennai
PoliticsOn October 8, the Trump administration announced a suspension barring Microsoft, TCS, and other IT firms from submitting new PERM applications and halting the processing of pending ones. This move affects green card seekers relying on these companies for employment-based permanent residency in the US, impacting their immigration process significantly.
Mint·
Economic Times·
On Friday, the Indian stock market rebounded sharply, ending an eight-week decline. The Sensex and Nifty gained significant points, supported by easing oil prices and strong buying in IT stocks. The Rupee strengthened against the US dollar as the dollar weakened, and bond yields cooled. However, concerns remain over high crude prices and US bond yields.
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