Godrej Properties and Macrotech Developers together sold Rs 22,120 crore worth of properties from April to September 2024, driven by strong demand for premium housing. Godrej's sales grew by 89%, while Macrotech saw a 21% increase. Both companies are optimistic about meeting their annual sales targets.

Nine of the top-10 most valued Indian companies lost a combined Rs 4,74,906.18 crore in market valuation last week. Reliance Industries and HDFC Bank saw the biggest declines. Escalating Middle East tensions and foreign fund outflows contributed to the overall market downturn. Notably, Infosys increased its market capitalization amid the widespread losses.

After a busy period, the IPO market is slowing with only two public issues next week, targeting Rs 365 crore. Garuda Construction aims to raise Rs 264 crore, and Shiv Texchem targets Rs 101 crore. Despite this slowdown, the IPO market's outlook remains strong with numerous firms awaiting approvals to raise significant capital.

AMUL's successful launch of milk in the US marks a significant milestone, and the brand now eyes expansion into the European market. As India becomes the world's largest milk producer, AMUL continues to innovate with protein-rich, organic products. CEO Jayen Mehta emphasizes the cooperative system's role in this success, a legacy of founder Dr. Verghese Kurien.

State Bank of India plans to recruit around 10,000 new employees this financial year to enhance its banking and technological capabilities. SBI also aims to open 600 new branches, focusing on emerging areas. Chairman C S Setty emphasized continuous reskilling of staff and transforming SBI into the most valued bank for all stakeholders.

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Monday. While BSE Sensex was near the 82,000 level, Nifty50 was close to 25,000.

Union Minister Ashwini Vaishnaw assures that AI regulations will not deter technological innovation. Speaking at ETSA 2024, he stresses the importance of democratizing technology, balancing innovation with safeguards, and fostering solutions in sectors like healthcare, agriculture, and the creator economy.

State Bank of India has classified MTNL's loan accounts as sub-standard non-performing assets due to missed payments since June 30. MTNL owes Rs 326 crore, with Rs 282 crore overdue. SBI demands immediate payment and has warned of legal action while seeking updates on MTNL's monetisation projects, including a land development deal with NBCC.

Salary increases in IT companies have shifted from the traditional April-June period to later in the year, influenced by fluctuating demand. This shift has led to unpredictable hikes and varied timing, with factors like high attrition and sluggish demand influencing decisions.

Exicom has acquired US-based Tritium for USD 37 million to leverage its DC fast charging technology for EV solutions in India. The acquisition includes Tritium's workforce and facility in Tennessee. Exicom plans to establish a new manufacturing unit in Hyderabad by 2025 to enhance its EV infrastructure capabilities.

Sanjeev Sanyal has been offered the post of chancellor of Gokhale Institute of Politics and Economics following Bibek Debroy's resignation citing moral grounds. The Servants of India Society, which manages the institute, awaits Sanyal's acceptance. Debroy's resignation stemmed from a legal dispute over the dismissal of Vice-Chancellor Ajit Ranade.

Amul has successfully launched its milk in the US and is set to enter the European market. India, now the largest milk producer, is poised to supply one-third of the world's milk. The cooperative model from India, exemplified by Dr. Verghese Kurien, is highlighted as a significant contribution.

ADB chief economist Albert Park highlights India's growth strategy, focusing on infrastructure investment, regulatory ease, and business-friendly policies. Projected to grow at 7%, India benefits from demographic dividend and a positive investment climate. He stresses the need for labor-intensive sectors to tackle employment and advises minimizing economic restrictions despite geopolitical tensions.

ADB chief economist cautions subsidies alone won’t help

Foreign investors sold Rs 27,142 crore worth of Indian shares in the first three days of October, influenced by geopolitical tensions, rising oil prices, and the strong performance of Chinese stock markets. This follows a high FPI investment in September. Analysts suggest that long-term domestic investors might find opportunities in undervalued banking stocks.

Since early October, Indian stock markets have faced significant selling pressure as Foreign Portfolio Investors (FPIs) withdrew Rs 27,142 crore. The largest sell-off was on October 4, driven by FPIs reallocating funds to more favorable Asian markets like China and Hong Kong, impacting investor confidence.

Bandhan Bank's total business rose by 24.6% in Q2 of FY24, reaching Rs 2,73,163 crore, with loans and advances at Rs 1,30,652 crore and deposits at Rs 1,42,511 crore. The collection efficiency ratio across all verticals was 98.2%. Ratan Kumar Kesh's tenure as interim MD & CEO has been extended by a month from October 10.

Ice creams are now year-round indulgences in India due to better storage and indoor shopping environments, explains Mohit Khattar of Graviss Foods. Varieties like ice cream sandwiches have become popular snacks, while quick service expectations drive sales. Indoor comfort regardless of outdoor temperatures supports the shift in consumer behavior, turning ice creams into everyday treats.

Indian farmers receive only about one-third of the final selling price of fruits and vegetables, with intermediaries taking the majority share, in contrast to sectors like dairy where farmers get 70%. Research by RBI suggests policymakers improve productivity, expand storage, and leverage digital platforms to stabilize prices and increase farmers' earnings.

The commerce department is planning a long-term solution for exporters' credit issues by considering a credit guarantee fund. This fund will help businesses access finance without needing collaterals. Exporters are currently struggling with declining export credit and high costs. Consulting firm EY is involved in assessing various options for improvement.