Central Banks Boost Gold Buying by 10%
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🗞️ Groww IPO opens for subscription
Groww’s IPO opens today, aiming to raise ₹66,323 crore. Brokerages have given mixed reviews, citing the firm’s strong retail investor base but stretched valuations.
💬 Expert Take — “Groww’s IPO is not just a listing — it’s a sentiment test for India’s fintech space post-Zerodha. Long-term potential, short-term volatility.”
🗞️ SBI Q2 profit up 10% YoY to ₹20,160 crore
State Bank of India (SBI) posted a 10% YoY growth in profit at ₹20,160 crore, beating street estimates on the back of strong loan growth and lower provisioning.
🗞️ Adani Enterprises Q2 profit surges 84% YoY
Adani Enterprises reported an 84% YoY jump in consolidated profit to ₹3,199 crore. The board also approved a rights issue of up to ₹25,000 crore to fund new projects and reduce debt.
🗞️ Bharti Airtel shares rise 2.2% post strong Q2
Bharti Airtel stock jumped 2.2% after reporting higher-than-expected profits and improved ARPU. Brokerages remain bullish with raised target prices.
🗞️ Gold buying by central banks up 10% in Q3
Central banks increased gold purchases by 10% YoY in Q3, with India and China among the top buyers, reflecting a global move to diversify reserves amid geopolitical uncertainty.
🗞️ IPPB to offer doorstep digital life certificates
The India Post Payments Bank (IPPB) will now enable EPFO pensioners to submit digital life certificates at home via postmen — a major ease-of-access reform for senior citizens.
🗞️ India’s top 1% grew wealth by 62% since 2000
A G20 report revealed that India’s top 1% of earners increased their wealth by 62% since 2000, highlighting the country’s rising wealth inequality.
🗞️ ChatGPT Go free for 12 months in India
ChatGPT Go subscription is now free for Indian users for a year. The plan includes priority access, faster responses, and GPT-4 capabilities — a major push to expand AI adoption.
💬 Expert Take — “This move positions OpenAI to dominate the AI consumer space in India, potentially accelerating digital productivity and creator growth.”
📊 Market Update
📉 Sensex: 83,459.15 ▼ 519.34 pts (-0.62%)
📉 Nifty 50: 25,597.65 ▼ 165.70 pts (-0.64%)
💱 USD/INR: 88.26
🪙 Gold (per gram): 24K ₹12,246 ▼ ₹71 | 22K ₹11,225 ▼ ₹65
🥈 Silver (per kg): ₹1,51,000 ▼ ₹3,000