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Corporate

₹1,060 Crore Groww IPO Gets 57% Day-1 Subscription

Online investment platform Groww opened its ₹1,060 crore IPO on November 4, drawing robust retail participation on Day 1. The offer, which closes on November 7, includes a fresh issue and an offer for sale by existing shareholders, with a price band of ₹95–100 per share.

By the end of the first day, the IPO was 57% subscribed overall, while the retail portion was oversubscribed 1.9 times, indicating strong investor interest. The stock is trading at a ₹17 grey market premium, implying a potential 17% listing gain at the upper price band.

Groww commands about 26% market share in its segment and has 12.6 million active clients as of June 2025. For FY25, the company reported ₹4,056 crore in revenue and a 44% net profit margin.

At the upper end of the price range, Groww’s P/E ratio stands at 40.8×, which analysts find high. While most recommend a ‘Subscribe for Long Term’, they caution that the business remains dependent on retail trading volumes and regulatory shifts.

Also Read: Adani Ports Q2 Profit Up 29% as Logistics, Marine Shine

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OpenAI Offers 1-Year Free ChatGPT Go in India

OpenAI has launched a one-year free offer for its ChatGPT Go plan in India starting November 4, expanding access to its latest GPT-5 model. The plan, previously ₹399 a month, offers faster responses, image generation, and file uploads. The offer applies to new and existing users.

India, now OpenAI’s second-largest market after the US, is central to its “India-first” strategy. The rollout coincides with DevDay Exchange in Bengaluru and supports India’s growing AI ecosystem. Users can activate the plan via the ChatGPT website or Android app, with iOS access coming soon.

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Corporate

Adani Ports Q2 Profit Up 29% as Logistics, Marine Shine

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday reported a 29% year-on-year jump in consolidated net profit to ₹3,120 crore for the July–September quarter of FY26, boosted by higher cargo volumes and strong growth in its logistics and marine segments.

Revenue rose 30% to ₹9,167 crore, while EBITDA increased 27% to ₹5,550 crore. For the first half of FY26, revenue stood at ₹18,294 crore, up 25% from a year ago, and profit after tax climbed 17% to ₹6,431 crore.

The company’s domestic ports business achieved a record EBITDA margin of 74.2%, with overall cargo volumes growing 12% year-on-year to 124 million metric tonnes. Market share rose to 28.1%, while container share expanded 150 basis points to 45.9%.

Logistics revenue nearly doubled to ₹2,224 crore in H1 FY26, driven by the ramp-up of trucking and international freight operations, while marine revenue surged 213% to ₹1,182 crore following new vessel acquisitions. International ports delivered a lifetime-high H1 revenue of ₹2,050 crore, reflecting strong performance at Haifa, Colombo, and Dar es Salaam.

Ashwani Gupta, Whole-time Director and CEO, said the results reflect “the success of APSEZ’s Integrated Transport Utility model,” adding that expanding port capacity, marine fleet, and logistics networks is creating a seamless supply chain from “port gate to customer gate.”

Credit ratings agencies turned more optimistic on the company’s outlook. Fitch revised APSEZ’s outlook to “Stable” from “Negative” and reaffirmed its “BBB–” rating, while S&P Global upgraded its outlook to “Positive.”

The company also reported progress in sustainability, ranking among the top 5% of global transportation firms in the S&P Global Corporate Sustainability Assessment and achieving Zero Waste to Landfill certification for 12 ports.

During the quarter, APSEZ announced plans to acquire Australia’s NQXT Port, expand capacity at Dhamra and Karaikal ports, and invest ₹600 crore in a new 70-acre logistics park in Kochi. It aims to handle one billion tonnes of cargo annually by 2030.

Also Read: Adani Power Invokes Arbitration Clause in Bangladesh Dispute

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Beyond

Bullion Steady, Gold at ₹12,333, Silver Near ₹1.54 Lakh

Gold and silver prices remained firm on Tuesday, November 4, across major Indian cities amid steady festive buying and muted global market movements.

In Delhi, 24-carat gold traded at ₹12,333 per gram and 22-carat at ₹11,304, while Mumbai saw ₹12,318 and ₹11,291, respectively.

Silver hovered around ₹154 per gram, or ₹1.54 lakh per kg. Analysts said stable demand and dollar strength kept bullion prices range-bound, with little volatility expected in the near term.

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Bharti Airtel Q2 Net Jumps 89% on Solid Sales

Bharti Airtel reported an 89% year-on-year surge in consolidated profit to ₹6,792 crore for Q2 FY26, driven by robust operational growth and improved efficiency.

Revenue rose 26% to ₹52,145 crore, while EBITDA climbed 36% to ₹29,919 crore with margins at 57.4%.

The company’s average revenue per user (ARPU) improved to ₹256 from ₹233 a year earlier.

Airtel’s total customer base reached 624 million across 15 countries, supported by strong Indian wireless and broadband performance, steady African operations, and ongoing network expansion.

Also Read: Urban Company Shares Drop 6% as Q2 Loss Hits ₹59 Cr

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Corporate

Adani Solar Ships 15,000 MW Modules Globally

Adani Solar, the solar manufacturing arm of the Adani Group, has achieved a significant milestone by shipping over 15,000 megawatts (MW) of solar modules globally. This marks a strong push toward India’s renewable energy ambitions and its Atmanirbhar Bharat vision.

Of the total capacity shipped, 10,000 MW were delivered to domestic projects, while 5,000 MW were exported to international markets. This translates to nearly 28 million solar modules, enough to power about five million homes and prevent an estimated 60 million tonnes of carbon dioxide emissions annually. Around 70 percent of these modules were manufactured using India-made solar cells, reinforcing Adani’s commitment to local production and sustainability.

With this feat, Adani Solar has become the first Indian company to cross the 15 GW shipment milestone and stands among the world’s top ten solar module manufacturers, as recognized by research firm Wood Mackenzie. The company plans to expand its current 4 GW annual manufacturing capacity to 10 GW in the next fiscal year, with an ambition to ship an additional 15 GW thereafter.

The company’s expansion aligns with India’s larger goal of becoming a global hub for solar manufacturing. The country’s total solar module capacity is projected to exceed 125 GW by 2025, well above the estimated domestic demand of 40 GW, opening vast export potential.

Adani Solar’s achievement underscores India’s growing self-reliance in renewable energy technology, reducing dependence on imports and strengthening the country’s position in the global clean energy supply chain. It also contributes to the creation of over 2,500 green jobs and supports the government’s mission to achieve 500 GW of non-fossil fuel-based power capacity by 2030.

Also Read: India Plans ₹7,000 Cr Boost for Rare-Earth Magnets

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Corporate

India Plans ₹7,000 Cr Boost for Rare-Earth Magnets

India is set to triple incentives for rare-earth magnet manufacturing to nearly ₹7,000 crore ($788 million), aiming to reduce reliance on China and secure critical material supply for electric vehicles, wind energy, and defence.

The expanded PLI scheme, awaiting Cabinet approval, will support around five manufacturers through investment and production incentives. Rare-earth magnets, vital for EV motors and renewable technologies, are currently dominated by China, which controls about 90% of global refining.

To ensure a steady input supply, foreign miners such as Lynas Rare Earths (Australia), Rainbow Rare Earths (UK), and Iluka Resources have assured the government of rare-earth oxide availability under the plan.

This initiative aligns with India’s broader strategy to build supply-chain resilience and boost domestic capacity in clean-tech manufacturing.

Also Read: Sensex falls 100 pts, Nifty below 25,750

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Corporate

ED Seizes ₹3,000 Crore Reliance Group Assets

The Enforcement Directorate (ED) has attached assets worth over ₹3,000 crore belonging to the Anil Ambani-led Reliance Group, escalating its investigation into alleged money-laundering and diversion of bank funds.

The action covers more than 40 properties across Mumbai, Delhi, Noida, Pune, Hyderabad, Chennai, and Thane. The list includes commercial assets, land parcels, and Ambani’s Pali Hill residence in Mumbai.

According to the agency, the attachment follows a probe into Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL). Both firms reportedly received loans of over ₹5,000 crore from Yes Bank between 2017 and 2019, a large portion of which was allegedly routed through shell or connected entities in the form of “round-tripping.”

Investigators say several loans were sanctioned and disbursed on the same day, often without proper documentation or collateral. Many recipient firms were financially weak or inactive, indicating possible misrepresentation and internal control lapses.

The ED has also extended its investigation to Reliance Communications Ltd (RCOM) and related companies, citing suspected fund diversion of about ₹13,000 crore. Some of these funds were allegedly moved through fixed deposits and mutual funds before returning to group-linked entities.

Officials said proceeds from the attached assets will help recover public money lost through these transactions. More attachment orders are expected as the money trail is traced.

Also Read: Gold at ₹1.21 Lakh, Silver at ₹1.49 Lakh as Dollar Weakens

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Corporate

Gold at ₹1.21 Lakh, Silver at ₹1.49 Lakh as Dollar Weakens

Gold prices edged higher on Monday as a weaker U.S. dollar and steady physical demand supported sentiment in the bullion market. On the Multi Commodity Exchange (MCX), December gold futures rose 0.39% to ₹1,21,708 per 10 grams, while silver futures gained 0.69% to ₹1,49,307 per kilogram.

Analysts said a softer dollar made gold more attractive to buyers holding other currencies, while stable domestic spot demand provided additional support. However, recent comments from U.S. Federal Reserve officials hinting at a cautious stance on rate cuts have capped major gains, prompting some profit booking in global markets.

Market experts see key support for gold at ₹1,20,600 and ₹1,19,800, with resistance levels at ₹1,22,000 and ₹1,22,700. For silver, support lies at ₹1,47,000 and ₹1,45,500, while resistance is expected near ₹1,50,000 and ₹1,51,500.

Traders said gold may remain range-bound in the short term as investors await further economic cues from the US and upcoming inflation data. Despite near-term volatility, the underlying sentiment remains positive due to geopolitical risks and sustained central bank buying, keeping gold an attractive hedge for institutional and retail investors alike.

Also Read: Sensex falls 100 pts, Nifty below 25,750

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Corporate

Nvidia CEO Completes $1 Billion Share Sale

Nvidia Corporation Chief Executive Officer Jensen Huang has completed a pre-arranged stock sale that has taken his total proceeds above $1 billion, according to regulatory disclosures and media reports.

The final transaction of 25,000 shares, reported this week, marks the conclusion of a plan adopted in March to sell as many as 6 million shares during the year.

Huang began executing the share sale in late June, when the value of the stake involved was around $865 million.

Since then, Nvidia’s stock price has climbed more than 40 percent, driven by soaring demand for artificial intelligence processors and the company’s expanding dominance in the semiconductor industry.

The timing coincides with Nvidia reaching a historic milestone: becoming the first company to hit a $5 trillion market capitalization in late October.

The share sale was conducted under a predetermined trading plan—commonly known as a Rule 10b5-1 plan—which allows executives to sell shares at preset intervals and prices, reducing the risk of insider trading accusations.

While the scale of the sale is sizable, analysts note that Huang continues to hold a substantial stake in the company, keeping his long-term interests aligned with Nvidia’s growth trajectory.

Investor reaction to the disclosure has been measured. The planned nature of the sale and the continued strength of Nvidia’s business have helped ease concerns that the transaction signals any loss of confidence in the company’s future.

However, the magnitude of the sale has drawn attention to the broader pattern of insider profit-taking among executives of companies driving the AI boom.

The timing of the transaction also reflects the extraordinary momentum behind Nvidia’s stock.

The company’s graphics processing units (GPUs) have become the backbone of the AI revolution, powering everything from cloud computing to advanced research applications.

Nvidia’s dominant position in the chip market has propelled its valuation to record heights, making it one of the world’s most valuable companies.

Some analysts suggest that Huang’s sale represents prudent personal financial management, given the company’s meteoric rise.

Others view it as part of a trend among technology executives seeking to diversify their holdings amid volatile market conditions.

Despite these differing perspectives, most agree that Huang’s continued ownership stake underscores his confidence in Nvidia’s long-term prospects.

For the company, the share sale coincides with a period of aggressive expansion and innovation.

Nvidia is deepening its investments in AI software ecosystems, cloud infrastructure, and next-generation chips while facing intensifying competition from rivals such as AMD and Intel.

The completion of Huang’s planned sale brings to a close one of the largest insider transactions in the company’s history.

It also highlights the balancing act facing tech leaders navigating historic market valuations—maintaining investor confidence while managing personal holdings responsibly.

As Nvidia continues to redefine the semiconductor landscape, Huang remains firmly at the center of one of the most transformative growth stories in the global technology sector.

Also Read: Google, Reliance Announce Free AI Pro Access