On Monday, October 28th, the Indian stock market experienced a notable upswing, with benchmark indices showing strong recovery. The Nifty 50 rose by 0.65%, closing at 24,339, while the S&P BSE Sensex surpassed the 80,000 mark, ending the day at 80,005, reflecting a 0.6% increase. This positive trend coincided with a wave of news related to IPOs, corporate earnings, and significant government initiatives.
NTPC Green Energy IPO Approved
NTPC Green Energy, a fully owned subsidiary of NTPC, received final approval from the Securities and Exchange Board of India (SEBI) for its ₹10,000 crore initial public offering (IPO). The company submitted its IPO documentation to SEBI on September 18, 2024, setting the stage for this substantial fundraising effort.
Tata Technologies & Suzlon Energy Q2 Results
The earnings season continued with Tata Technologies reporting a 2% decline in consolidated net profit for the quarter ending September 30, 2024, totaling ₹157 crore. Conversely, revenue from operations saw a 2% year-on-year rise, reaching ₹1,296 crore.
Suzlon Energy Limited also released its Q2 results, showcasing a remarkable 96% increase in net profits to ₹200.20 crore, compared to ₹102.29 crore in the previous year.
India’s Census Planned for 2025
The Indian government has announced its intent to conduct the population census in 2025, aiming to complete the process within a year after a four-year delay. Once the census is finalized, the delimitation of Lok Sabha seats will commence, with an anticipated completion by 2028.
Tata-Airbus C-295 Facility Inauguration: A Defense Milestone
Prime Minister Narendra Modi and Spanish PM Pedro Sanchez jointly inaugurated the Tata Advanced Systems (TASL)-Airbus facility for manufacturing C-295 military aircraft in India. This facility marks a significant milestone for India’s defense manufacturing sector, becoming the first private sector final assembly line for military aircraft in the country. The C-295 is a versatile military transport aircraft expected to enhance India’s defense capabilities.
This eventful day underscores the vibrancy of the Indian economy, showcasing developments across various sectors that are poised to shape the nation’s future.
