DBS Bank has invited bids from prospective buyers to recover debts accumulated due to NPAs, having a reserve price of ₹30 crore. The portfolio includes 11 fraud exposures with bidding set on all cash basis, and the Swiss Challenge on 7th November. DBS Bank India is selling ₹437 crore non-performing loans, including 11 fraud exposures.

WeWork is expected to file for bankruptcy as early as next week. The company has been struggling with a large debt pile and heavy losses, leading to its shares falling 96% this year. It had already entered into an agreement with creditors to delay payments and its major backer SoftBank sunk billions to prop up the startup.

Geojit's report on Agri Picks showed that India's cotton production for 2023-24 is estimated to be 7.5% lower than 2022-23, with a total supply of 34.6 mln bales. Import estimates were higher at 2.2 mln bales and export shipments lower at 1.4 mln bales. Consumption was retained at 31.1 mln bales and ending stock estimated at 2.1 mln bales.

The Delhi gov's GST and VAT collections rose by 17% in the first half of 2023-24 to Rs 19,101 cr, compared to Rs 16,352 crore in the corresponding period last year. Collection of GST rose 15%. Figures for the months of April-September show a near-doubling from FY 2018-19 to FY 2023-24. CM Arvind Kejriwal credited the rise to honest governance.

Gold prices started November lower as investors awaited the outcome of the Fed's policy decision, after Middle-East tensions caused a safe-haven rally last month and pushed prices above $2,000. Labor costs and house price inflation increased, but consumer confidence declined and euro zone inflation and economy are falling.

Freshworks' reported a consolidated revenue of $153.6 million in Q3, growing 19% YoY, and surpassed their estimates. With the addition of new customers, mostly large, and high retention rate, Freshworks is on track to reach $1 billion in revenue by 2026. Despite macroeconomic pressure, the firm recorded Net Dollar Retention of 108%.

Morgan Stanley downgraded UPL Ltd. to 'equal weight', citing weak Q2 earnings and revised FY24 guidance. Factors such as subdued global demand, inventory destocking, geographical mix, currency challenges, and higher costs led to a drop in revenue and margins. Morgan Stanley reduced their estimates for FY24-26 by 34%, 26%, and 22%, respectively, and cut the target price to Rs 590.

Nifty50 had a Bearish Belt Hold candlestick pattern on October 31, dragging the index down 61 points. Broader markets also displayed mixed performance. Despite the correction, stocks such as Piramal Pharma, CDSL and FACT are seeing buying interest, with potential bullish trend reversals. Experts recommend trading strategies for these stocks which could be beneficial for investors.

The Indian Sugar Mills Association projected on Oct. 31 that gross sugar production in the current marketing year will be down by 9% at 337 lakh tonnes, which is enough to meet domestic consumption. It has not estimated yet the amount of sugar diverted for ethanol production but expects movement in this direction after the announcement of feedstock-wise ethanol procurement price in December.

Blockchain sleuth PeckShield detected 288.8 Bitcoin (~$9.9M) stolen from FTX being transferred. The hacker responsible for the theft has stolen ~$500M in cryptocurrency, exchanging it into Ethereum (ETH) and later transferring it to growing US crypto exchanges. Recently they have also tried swapping ETH via DeFi platforms without success.

ASK Automotive, India's leading auto ancillary company, has decided to open their public issue on Nov 7. The issue consists of an offer-for-sale with no fresh issue component, and closes on Nov 9, with a price band set to be disclosed in the coming days. The company services the top six two-wheeler makers in India, and its revenue from operations (FY23) jumped to Rs2,555.17 crore.

Protean eGov Technologies, formerly known as NSDL e-Governance Infrastructure, is making its public debut with the IPO opening on Nov 6, closing Nov 8. The offering will raise Rs 490.3 crore, with some shares exclusively reserved for employees and half of the net issue set aside for qualified institutional buyers. The minimum application size by retail investors is Rs 14,256.

XRP, the fifth largest cryptocurrency, jumped 10% within an hour as traders placed bullish bets on its price. Increased trading volumes of over $2B hint at investor positioning. After days of losses, XRP has rebounded and is now trading around $0.60, after reaching highs of $0.62 today. The cause of the spike remains unclear, but it appears likely to have been triggered by investors.

TVS Credit Services Ltd, a leading non-banking financial company, has seen its Assets Under Management grow 14% to Rs 23,516 crore as of Sept. 30 2023. Its net profit after tax for the quarter increased 40%, totaling Rs 134 crore and Rs 252 crore for the half year. Adapting to digital transformation initiatives, apps were transitioned to a cloud platform, increasing operational efficiency.

Canara Bank is creating a new credit card unit by taking majority stake in its subsidiary, Canbank Computer Services, while buying out Bank of Baroda and DBS's holding. Karur Vysya Bank is yet to give its consent. The lender intends to leverage its existing customer base of 80 million and grow the business exponentially. Additionally, with the industry growing at a CAGR of 18% in the past 5 years.