Markets closed higher compared to yesterday’s closing point.
The markets rose throughout the day. The rise may have been mainly due to positive sentiments in the global markets after the US Fed kept the interest rates unchanged.
Realty stocks and FMCG stocks rose the most today. Cement stocks and auto stocks fell the most.
Global markets: US markets rose on Wednesday. Asian markets ended mixed on Thursday. Most European markets rose (as of 6 pm IST).
News
The US Federal Reserve kept interest rates unchanged in the range of 3.75-4.00%.
Indian companies have signed 23 green hydrogen contracts for supply of 5.5 lakh MTPA which is expected to bring inflows worth Rs 90,000 crore.
17 out of 19 sub sectors rose as per Index of Services Production (ISP) data for August 2026. Only air transport and arts, entertainment & recreation services fell.
SEBI Chairman said that the regulator aims to reduce foreign investor onboarding to 5 days to improve access to Indian capital markets, as per media reports.
Carlsberg India filed an updated DRHP for an IPO. The IPO comprises an offer for sale of 8.64 crore shares with no fresh issue component.
SFC Environmental Technologies’ Rs 667.53 crore IPO was subscribed 9.47 times on day 3. Retail subscription: 2.71 times. The IPO closed for subscription.
Stock Updates
Trent: net profit rose 23.06% year-on-year to Rs 463.77 crore in the July-Sept quarter. Bahram Vakil will replace Noel Tata as Chairman from 12 Nov.
Reliance: subsidiary Hamleys (Franchising) Ltd has applied for voluntary removal from the UK companies register.
Asian Paints: net profit rose 7.45% year-on-year to Rs 1,067.63 crore in the July-Sept quarter. Dividend declared: Rs 5.75 per share. Record date: 4 Nov.
IndiGo: net loss narrowed to Rs 1,878.60 crore in the July-Sept quarter from Rs 2,581.70 crore a year ago. Aircraft fuel expenses rose to Rs 9,966.80 crore from Rs 5,961.80 crore.
Pidilite: net profit rose 6.09% year-on-year to Rs 614.53 crore in the July-Sept quarter.
CG Power: subsidiary Axiro Semiconductor Pvt Ltd invested in US-based ThinSiC Inc and partnered with it to develop semiconductor technology.
PFC: subsidiary PFC Consulting Ltd set up Rundh Gidawara Transmission Ltd for a power-transmission project in Rajasthan. It will later transfer the company to the winning bidder.
Laurus Labs: net profit rose 126.43% year-on-year to Rs 441.48 crore in the July-Sept quarter. Dividend declared: Re 1 per share. Record date: 6 Nov.
Hero MotoCorp: net profit rose 42.21% year-on-year to Rs 1,861.33 crore in the July-Sept quarter. It also approved investing up to Rs 300 crore in subsidiary HMCL Netherlands B.V. for its Colombia and Brazil businesses.
GMR Airports: net loss narrowed to Rs 14.92 crore in the July-Sept quarter from Rs 37.09 crore a year ago. It also appointed Sanjeev Gupta as Deputy CEO from 29 Oct.
Godrej Consumer: net profit rose 13.84% year-on-year to Rs 522.92 crore in the July-Sept quarter. Dividend declared: Rs 5 per share. Record date: 4 Nov.
Ambuja Cements: net profit fell 89.12% year-on-year to Rs 193 crore in the July-Sept quarter. Last year’s profit included a one-time tax benefit of Rs 1,710 crore.
Word of the Day
VIX
It is a measure of volatility of the markets
VIX = Volatility Index
The more volatile the markets, the higher the VIX.
In India, we use India VIX.
If VIX is below 10, the markets are considered to be extremely stable and less volatile.
Most times, it is in the 11-20 range.
During extreme events like the 2008 Great Recession and 2020 pandemic, the VIX can shoot up drastically to as high as 80+.
6 Day Course
Theme: different kinds of funds in India
Day 4: Thursday
Next, let’s talk about pension funds.
In India, the government runs some pension funds that are targeted towards producing pension for investors. Some of these are:
EPF: Employees Provident Fund. This is meant for salaried individuals. It is mandatory for employees and employers both to contribute to this every month.
The rates given by this fund is fixed every year by the government. Right now, it is 8.25%.
PPF: Public Provident Fund. Anyone can invest in this. It has a lock-in of 15 years. The returns provided by this fund are also fixed.
NPS: National Pension Scheme. This is also a voluntary scheme.
It does not offer a fixed return. Its returns depend greatly on the returns provided by the equity markets.
It invests in a mix of stocks, bonds, and government securities.
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Featured Question
Q. “Jio platforms was initially part of Reliance industries ., now jio is separate listed entity. Then why reliance industries market cap is almost in same levels as the Jio revenues doesnot add to reliance right? Please clarify”
About 65% of Jio is still owned by Reliance.
Jio is very much a subsidiary of Reliance.
Jio’s revenues are counted in Reliance’s.
Still, post IPO, Jio’s valuation has touched higher levels.
So technically, we are partially double counting when we look at Reliance’s market cap and Jio’s market cap separately.
So we can ask the question, how is Jio’s m-cap so high when it is already represented by Reliance’s m-cap?
One possible explanation is that, investors price a company not on its present earnings but its future earnings.
But in the case of Reliance, there are many other businesses along with Jio — including its oil business.
Let’s say an investor is extremely bullish on the telecom business but not as bullish on the oil business.
This makes it difficult for them to price it based on its future potential.
IPO for the telecommunications business (Jio) allows only that business to be valued much higher than the oil business.
This is another potential explanation for why Jio’s m-cap is so high despite it already being majority owned by Reliance.
Another explanation could be the holding company discount.
Holding companies’ stakes are often not as highly valued as the company they hold.
In this case, Reliance is the holding company of Jio.
So it is possible that Jio is being valued much higher and Reliance’s stake in Jio being valued lower because of this phenomenon.
By this explanation, Reliance is being valued for its oil business, other businesses, and for being a holding company of Jio.
The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.
Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.
Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.
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