Top News of Oct 27: Paytm raises IPO size for Nov 8 launch; fuel prices hit fresh record highs and more

Asia's Tech News Daily

Top News of Oct 27: Paytm raises IPO size for Nov 8 launch; fuel prices hit fresh record highs and more
© Provided by CNBCTV18 What’s in a name: Is Paytm’s Mini App Store an actual app store or not?

Digital payments and financial services firm Paytm is poised for a post-Diwali launch on November 8. The global level of wealth has grown in recent years, but only by exacerbating inequalities and through unsustainable economic practices, said a World Bank report. Maruti Suzuki’s net profit missed Street estimates as it declined to Rs 775.3 crore for the September quarter. For all these stories and everything in between, here are some top news of the day

ECONOMY/BUSINESS

Deutsche Bank expects 50 bps repo rate hike in 2022

Our view is, the first part of a reverse repo rate hike is likely in December 2021 and the second part in the first quarter of next year, Sameer Goel of Deutsche Bank told CNBC-TV18. He further added he sees a hike of 50 basis points on the repo rate in 2022.

Fuel prices at a record high

Petrol prices in Delhi rose to record high levels of Rs 107.94 a litre as oil marketing companies hiked the prices. Diesel prices in the capital rose to Rs 113.80.

Paytm IPO likely to open on November 8

Digital payments and financial services firm Paytm is poised for a post-Diwali launch on November 8 and is targeting a price band of Rs 2080-Rs 2150, as per sources.

MARKETS

Nykaa IPO to open for subscription tomorrow

The IPO of FSN E-Commerce Venture will open for bidding Thursday. The company is aiming to raise over Rs 5,350 crore via the IPO. Here are some key things to know

Maruti Suzuki net profit falls 65% to Rs 475 crore

Maruti Suzuki’s net profit missed Street estimates as it declined to Rs 775.3 crore for the September quarter. Its standalone earnings stood at Rs 20,538 crore for the three-month period. The shares of the automaker rose a percent on the news. Dig deeper

Asian Paints best performer on Nifty50

Shares of Asian Paints surged over 6 percent during the session Wednesday after a brokerage firm said the company undertook a price hike of 9 percent across the portfolios. Dig deeper

INDIA

India criticises China for new land border law

India on Wednesday hit out at China for its “unilateral” decision to bring about a new land border law and said it is a matter of concern as the legislation can have implications on the existing bilateral pacts on border management and on the overall boundary question. Continue Reading

Captain Amarinder Singh draws battle lines

Captain Amarinder Singh drew the battle lines ahead of the Punjab Assembly elections due early 2022 with a clear intent that a seasoned political gladiator will not go down without a fight. Continue Reading

Karnataka reports 7 cases of Delta Plus variant

Karnataka currently has seven cases of Delta Plus variant of the coronavirus, including two AY.4.2 in the city, a senior official said on Wednesday.  Continue Reading

INTERNATIONAL

Jeff Bezos’ Blue Origin plans ‘business park’ in space

Blue Origin, the space tourism company owned by billionaire and Amazon founder Jeff Bezos, plans to launch a commercial space station in low earth orbit by the end of the decade.

Haiti crippled by fuel shortages 

Haiti’s streets were unusually quiet on Tuesday and gas stations remained dry as gangs blocked the entrance to ports that hold fuel stores and the country’s main gang boss demanded that Prime Minister Ariel Henry resign. Read here 

Global wealth has grown at expense of natural wealth: World Bank

The global level of wealth has grown in recent years, but only by exacerbating inequalities and through unsustainable economic practices, said a World Bank report.  Continue Reading

YOU & I

Anand Rathi’s Diwali stock picks: From Infosys to Rossari Biotech

With the festive season around the corner, Anand Rathi Financial Services has listed its top stock picks. Check out the Diwali stock picks here

Life insurance policies: Here are key exclusions

Life insurance policies come with several benefits, but it has its own set of exclusions as well. Having known these exclusions are highly important so as to avoid any unpleasant surprises during the claim process. Check list here

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Bethesda Teases Big Moments In Sci-fi RPG Starfield With New Video Featurette

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BMW releases striking Concept XM

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India's Serum Institute delivers first Novavax shot through COVAX

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World AIDS Day: 57% Indians don't use contraception, Ahmedabad ranks lowest, survey finds

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