The ₹27,870-crore Hyundai Motor India issue set the previous record in October 2024, when its South Korean parent sold a 17.5% stake | Business News

Japans Nikkei 225 rose 1.56% as renewed optimism over AI demand and gains on Wall Street lifted investor sentiment. Strong export growth and reports of major Chinese technology firms ordering Nvidia chips also supported the rally.

Reliance Industries shares rose 2.6% as investors focused on Jio Platforms’ ₹30,213-crore IPO, open for subscription from October 21 to 23. The issue could become India’s largest, with shares priced at ₹1,065–1,119. Proceeds will mainly repay borrowings at Reliance Jio Infocomm.

Hindustan Zinc reported a 142% year-on-year jump in Q2FY27 net profit to Rs 6,412 crore, while revenue rose 77% to Rs 15,093 crore. Despite strong earnings, Jefferies cut its target price to Rs 650 from Rs 750, citing silver price volatility and lower price assumptions for the coming years.

Shares of UltraTech Cement increased by 3% after the company reported strong quarterly earnings for Q2 FY27. The company's net profit saw a 21% growth compared to the previous year, driven by operational revenue increases. Jefferies raised its target price for the stock, indicating significant upside potential. Meanwhile, Nomura and Citi slightly lowered their estimates due to rising costs and external economic factors.

Major sugar-producing regions, including Brazil, India, and the European Union, struggle with adverse weather impacts from El Niño. Brazil's sugar production is significantly lower due to excessive rainfall affecting harvests at critical times.

Community opposition to one of Victoria's largest data centres has seen the value of shares in NextDC plummet.

Piramal Finance expects cost of borrowing to remain stable or decline despite rising yields. The company plans to double its branches for gold loans from 100 to 200 by March next year. It is also aiming at increasing unsecured AUM mix from 21% to 25%-26%.

Third-quarter revenue rose 11.8% to $12.87 billion, in line with Wall Street forecasts, but the lowest rate of increase in nearly three years. The company forecast fourth-quarter net income of $2.79 billion and EPS of 67 cents, below the average analyst forecast of $3.07 billion and 73 cents.