Daily Market News Update — 04-05 October 2026

Midnight News Update: 04-05 Oct 2026

Noel Tata has now challenged the process followed to give another term to Chandra, including the legal opinions offered to back his appointment. Noel Tata has also sought the video recording and the minutes of the September 17, 2026 meeting, which has now become the bone of contention. Noel Tata also stated that he did not get the opportunity to present the opinion of DY Chandrachud, which had clearly underlined that both Srinivasan and Noel Tata will have to vote in favour of the reappointment. The casting vote of Manwani, therefore, was not valid in this case.

September has been a bumper month for Indian IPOs with ₹39,340 crore being raised across 34 IPOs. Of course, the IPO story was dominated by the ₹22,563 crore IPO of NSE. What is more important is that there are about 237 IPOs in the pipeline looking to raise around ₹4.48 trillion. It has been one of the best Septembers for the Indian IPO market, and it comes at a time when the secondary markets have been hit by oil prices, rising bond yields, and persistent FPI selling. Out of the 237 issues in the pipeline, around 120 IPOs have already been approved by SEBI.

Even as India has outlined aggressive plans to expand its data centre capacity to 12 GW by 2030, one factor that is triggering this confidence is availability of bank funding. That is not surprising considering that nearly 20% of the global greenfield investments in 2025 were into data centres. India data centre capacity has surged 4-fold since 2020 to 1.58 GW, but is now scheduled to grow 8-fold in the next 4 years. Axis Bank plans to double its exposure to data centres in next 3 years, as the Adani and Reliance groups commit more than $200 billion to setting up data centres.

The finance ministry announced the small savings rates for the October-December quarter. The finance ministry announces the rates at the start of each quarter and this time around, there has been no change in rates on the 3 major small savings schemes, despite the likelihood of RBI hiking rates by 50 bps in 2026. Therefore, the Public Provident Fund (PPF) continues to earn 7.1% per annum, Sukanya Samriddhi Scheme will continue to earn 8.2% and the National Savings Certificates (NSC) will also continue to earn 7.7%. Tax breaks make these small savings lucrative.

Bajaj Finance has approved the raising of up to ₹17,500 crore through the issue of warrants and a qualified institutional placement (QIP). While a sum of ₹11,700 crore will be raised through QIP, issue of warrants will raise ₹5,800 crore. The QIP will involve the placement of shares of Bajaj Finance with face value of ₹1 per share, while the preferential allocation of warrants will be made at the conversion ratio of 1:1 to select investors and promoters. Being an upper-layer NBFC, Bajaj Finance has to consistently boost its capital base to be able to expand its loan book.

With a revival in oil supplies from the Middle East, India saw record crude oil imports of 5.26 million barrels per day (bpd) in the month of September. Even as the Gulf impasse continues, there have been some positive cues for India. Firstly, India has been getting a lot of its supplies from Ship to Ship (STS) transfers off the Gulf of Oman. In addition, Saudi Arabia, which has reactivated its East-West Pipeline to Yanbu is also sending oil to India. While Russia continued to account for about 35% of the total crude supplies to India, Gulf region as a whole accounted for 39%.

Ahead of the high-octane festive season this year, Amazon Now (the quick commerce arm of Amazon) has doubled its footprint to more than 120 cities. This will be executed and delivered via a massive spread of 800 fulfilment centres pan-India. The service has been expanded to cities like Amritsar, Abohar, Jalandhar, Ambala, Mangalore, Manipal, Vizag, Kochi, Bhubaneswar, Karwar etc. Amazon Now has become the fastest growing vertical for Amazon India, doubling volumes each quarter. It offers the full range of perishable, durable, and non-durable products.

The Mahindra group and Embraer of Brazil have identified Nagpur as the site for their C-390 aircraft assembly line. The C-390 is a millennium military transport aircraft. This would be subject to the joint venture winning the defence contract from the Indian Air Force. Mahindra and Embraer will jointly integrate domestic aerospace suppliers for manufacturing, after-market service, and for MRO; apart from lifecycle support. The combination will leverage Embraer’s OEM and engineering expertise with domestic industrial and manufacturing base of Mahindra group.