The rupee strengthened by 53 paise on Wednesday, closing at 94.38 against the US dollar, bolstered by foreign currency flows from the Jio Platforms IPO and intervention from the Reserve Bank of India. Nonetheless, pressures persisted from falling domestic stocks and increasing crude oil prices. The rapid full subscription of the Jio Platforms IPO within 100 minutes reflects significant investor interest.

Jio IPO subscribed within 100 mins; subscribed over 3x on Day 1
https://timesofindia.indiatimes.com/business/india-business/jio-ipo-subscribed-within-100-mins-subscribed-over-3x-on-day-1/articleshow/135100956.cms

The institutional (QIB) part of the IPO, in which a little over 4.9 crore shares were offered, was subscribed nearly 9.5 times while the high-net-worth investors’ portion, in which about 3.6 crore shares were reserved, was subscribed 1.7 times. Usually, in most initial offerings, institutional players apply on the last day of the offer.

Surge in gold loans partly reflects stress, say lenders
https://timesofindia.indiatimes.com/business/india-business/surge-in-gold-loans-partly-reflects-stress-say-lenders/articleshow/135100957.cms

During the company’s Q2FY27 earnings, Piramal Finance MD & CEO Jairam Sridharan said 15% to 23% of gross gold loan disbursements across the industry over the past year went to customers already more than 90 days overdue. Piramal’s policy bars lending to such borrowers. According to RBI data, gold loans accounted for a third of incremental retail lending in Q1FY27.

SpaceX, Tesla boards weigh $3.5 trillion merger; Elon Musk endorses idea
https://timesofindia.indiatimes.com/business/international-business/spacex-tesla-boards-weigh-3-5-trillion-merger-elon-musk-endorses-idea/articleshow/135100964.cms

SpaceX is valued at more than $2 trillion, while Tesla has a market value of about $1.5 trillion. When asked on the call about the prospects of merging the two companies, Musk initially said he was “tap dancing through a minefield” before going into more detail. He cautioned that getting enough support from Tesla shareholders may be tricky and that neither committee has settled on terms.

At 7.9%, core sector clocks fastest growth in new series
https://timesofindia.indiatimes.com/business/india-business/at-7-9-core-sector-clocks-fastest-growth-in-new-series/articleshow/135100958.cms

Output in the energy-dominant industries like natural gas (-4.6%), crude oil (-1.4%) and fertilisers (-11.7%) saw continued sequential contraction, reflecting the impact of the prolonged conflict in West Asia. Output in the refinery products (10.3%) and coal (10.7%), however, saw acceleration during the month. Bank of Baroda chief economist Madan Sabnavis said Sept figures highlight buoyancy in infrastructure where govt has been spending.

Security flaw: eMudhra shares take a hit, fall 20%
https://timesofindia.indiatimes.com/business/india-business/security-flaw-emudhra-shares-take-a-hit-fall-20/articleshow/135100962.cms

The flaw occurred during a key-generation ceremony on April 30, 2025, when a second set of weak keys was generated alongside the original strong keys. Mozilla cryptography engineer Dennis Jackson reported the issue on Oct 17, flagging insufficient randomness that made the keys vulnerable to recovery. eMudhra said it was investigating the root cause.

Rate hike: RBI more hawkish than external members at meet
https://timesofindia.indiatimes.com/business/india-business/rate-hike-rbi-more-hawkish-than-external-members-at-meet/articleshow/135100963.cms

RBI’s MPC voted unanimously to raise the repo rate by 25 basis points to 5.5%, but split 4-2 on shifting to calibrated tightening, signalling rate cuts were off the table in the near term as inflation threatens to spread beyond food and fuel. Governor Sanjay Malhotra, deputy governor Poonam Gupta, executive director Indranil Bhattacharyya and external member Saugata Bhattacharya backed the shift.