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The big news yesterday was related to BSNL and gold and silver prices. Government company Bharat Sanchar Nigam Limited (BSNL) on Tuesday launched seven new services, including SIM card kiosks. Telecom Minister Jyotiraditya Scindia launched these services. The telco’s new logo has also been revealed.
Gold and silver prices hit record highs again on Tuesday (October 22). Data from the Indian Bullion and Jewelers Association (IBJA) showed that the price of 10 grams of 24-karat gold rose by Rs 18 to Rs 78,232. The previous day, its price was Rs 78,214 per 10 grams.
Ahead of tomorrow’s big news, today’s big stories to watch…
- Stocks are likely to rise on Wednesday.
- Prices of petrol and diesel remained unchanged.
Read tomorrow’s breaking news now…
1. BSNL launches vending kiosks: SIM cards can be purchased and upgraded to activate 7 new services; the logo has also changed
Government company Bharat Sanchar Nigam Limited (BSNL) on Tuesday launched seven new services, including SIM card kiosks. Telecom Minister Jyotiraditya Scindia launched these services. The telco’s new logo has also been revealed.
BSNL has launched nationwide Wi-Fi roaming services for its fiber optic network customers. This means users can enjoy high-speed internet on BSNL hotspots without paying any additional charges.
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2. Gold reaches all-time high of Rs 78,232: So far this year, gold prices have increased by Rs 14,880 and silver has also reached Rs 97,254 per kg.
Gold and silver prices hit record highs on Tuesday (October 22). Data from the Indian Bullion and Jewelers Association (IBJA) showed that the price of 10 grams of 24-karat gold rose by Rs 18 to Rs 78,232. The previous day, its price was Rs 78,214 per 10 grams.
Meanwhile, silver prices also increased by Rs 381 and were sold at Rs 97,635 per kg. The previous day, the price of silver was Rs 97,254. Earlier yesterday, gold and silver also hit all-time highs.
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3. India’s GDP growth will be 7% in FY25: The International Monetary Fund said that India’s economy will grow at a rate of 6.5% in FY26.
The International Monetary Fund (IMF) has maintained India’s gross domestic product (GDP) growth forecast for the 2024-25 fiscal year at 7%. At the same time, the GDP forecast for the 2025-26 fiscal year has also been maintained at 6.5%.
In early July, the International Monetary Fund raised India’s GDP growth forecast for the 2024-25 fiscal year to 0.20% to 7%. GDP is said to be expected to be 6.5% in the fiscal year 2025-26. Also in April, the International Monetary Fund made the same estimate for fiscal 2026.
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4. Food delivery company Zomato’s profit increased by 388%: from 360 million rupees to 1.76 billion rupees, and revenue in the July-September quarter increased by 68%.
Food delivery company Zomato’s profit rose 388% year-on-year to Rs 176 crore in the July-September quarter. The company’s consolidated net profit in the same period last year was Rs 36 crore.
Zomato released its second quarter results for the financial year 2024-25 on Tuesday, October 22. The company’s second-quarter revenue grew 68.50% to 4,799 billion rupees. Revenue in the same quarter a year ago was Rs 2,848 crore.
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5. Sensex fell 930 points to close at 80,220: Nifty also fell 309 points and BSE Small Cap fell 2,118 points.
The Sensex closed at 80,220 points on Tuesday (October 22), down 930 points (1.15%). Meanwhile, Nifty also fell 309 points (1.25%) to end at 24,472 points.
Meanwhile, BSE small caps fell 2,118 points (3.81%) to end at 53,530 points. Of the 30 Sensex stocks, 27 fell and three rose. Out of 50 Nifty stocks, 47 declined and 3 gained. All sectors on the NSE declined.
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6. Adani Green’s second-quarter profit increased by 39%: revenue increased by 30% to 33.76 billion rupees, and the stock return rate within one year was 91%.
Adani Group Company “Adani Green Energy” achieved a net profit of Rs 515 crore in the second quarter of fiscal year 2024-25. An increase of 39% compared with the same period last year. In the same period last year, the company’s net profit was Rs 371 crore.
The company’s revenue in the July-September quarter was Rs 3,376 crore. A year ago, in the second quarter of fiscal 2023-24, the company had revenue of Rs 2,589 crore. An increase of 30.4% compared with the same period last year.
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7. Paytm’s net profit in the second quarter of fiscal 2025 was 9.3 billion rupees: including 1,345 billion rupees from the sale of the movie ticketing business, and its share fell by more than 4%
Paytm parent company One 97 Communications posted a net profit of Rs 930 crore in the second quarter of fiscal year 2024-25, compared with a loss of Rs 290.5 billion in the same period last year. A one-time contribution of 1,345 billion rupees to the company’s net profit.
Excluding the sale of its movie ticketing business, Paytm lost 4.15 billion rupees in the quarter, exceeding its loss in the same quarter last year. The company announced its results for the second quarter of fiscal 2025 (July to September) on Tuesday (October 22).
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8. Hyundai Motor’s listing price was 1,931 rupees, down 1.5%: the issue price was 1,960 rupees, and the total number of subscriptions was 2.37 times, making it the country’s largest IPO.
Hyundai Motor India’s listed share price on the Bombay Stock Exchange (BSE) was Rs 1,931, 1.5% lower than the issue price. The stock was listed at Rs 1,934, down 1.3% from its issue price on the National Stock Exchange (NSE). Its issue price is Rs 1,960.
After the day’s trading, Hyundai’s share price closed at 1,820.40 rupees, down 7.12% from the BSE issue price. Hyundai Motor’s initial public offering (IPO) will be open for bidding from October 15 to 17.
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9. Ambuja Cement Company will acquire 46.8% stake in Oriental Cement Company: The transaction price is Rs 81 billion. The company will also acquire 26% stake in the public.
Ambuja Cement Limited, a subsidiary of Adani Group, announced on Tuesday (October 22) that it will acquire 46.8% stake in Oriental Cement Limited (OCL) for 81 billion rupees. The transaction will be completed by purchasing shares from OCL promoters and certain public shareholders at a price of Rs 395.4 per share.
Ambuja Cement said the acquisition will be carried out in two phases. Ambuja Cements will acquire 37.9% stake from OCL promoters and 8.9% stake from certain public shareholders. Thereafter, the company will launch a public tender offer to acquire 26% of the shares.
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10. Vaari Energies IPO was subscribed 3.34 times on the first day: Deepak Builders’ IPO was also subscribed 4.18 times. Today is the second day of bidding.
Today is the second day of bidding for initial public offerings, the IPOs of Vaari Energies Limited and Deepak Builders and Engineers India Limited. The subscription volume of Waari Energies IPO on the first day was 3.47 times. The retail category of this issuance was subscribed 3.34 times, the qualified institutional buyer (QIB) category was subscribed 0.08 times, and the non-institutional investor (NII) category was subscribed 8.22 times.
At the same time, the IPO of Deepak Builders and Engineers India was subscribed 4.18 times. The issue was subscribed 6.22 times in the retail category, 0.52 times in the qualified institutional buyer (QIB) category and 4.28 times in the non-institutional investor (NII) category. Shares of both companies will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on October 28.
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11. Mercedes-Benz G63 facelift launched in India, priced at 3.6 billion rupees: SUV uses new mild hybrid engine and updated technology to compete with Land Rover Defender
Mercedes-Benz India launched the facelifted version of the Mercedes-AMG G63 in India on Tuesday (October 22). The starting price of the car remains at Rs 360 crore (ex-showroom pan-India).
The first batch of more than 120 units has been booked in India. However, the company has opened a second batch of orders, with delivery expected in the third quarter of 2025.
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