On July 21, 2005 the People's Bank of China severed a long-standing link to the dollar, marking the beginning of new efforts to restrain the yuan’s decline. Over the years, China has adjusted its approach to FX management by expanding its daily trading band, setting the 'fix' at certain intervals and directing traders through domestic banks.

SBI Life Insurance Company's share price gained 0.8% in morning trade on Sept 29 following the appointment of Tarun Jhingran as its new MD & CEO. Its net profit rose 45% year-on-year and 19% rise in net premium income. The company is 54.5% promoter owned, 15.2% DIIs and 26.2% FIIs.

This year, tech IPOs haven't inspired confidence due to two of the largest offerings slipping below their listing prices. China's e-commerce spinoff Cainiao Smart Logistics Network may have better luck; it is unique because it can benefit from its proximity to Alibaba and strike a balance between tech and manual delivery services.

L&T shares have hit record highs this week, gaining as much as 5%. On September 29 the stock touched an all-time high of Rs 3,057 on BSE. The company won a major project from MMRDA and settled bids for its Rs 10,000 crore buyback with 100% retail acceptance ratio. Brokerages remain bullish on L&T as they see order flow traction and margin recovery if elections drive front-ended FY24E.

Capital Small Finance Bank has filed to raise funds through a public issue that includes a fresh investment of Rs 450 crores and an OFS by existing shareholders and promoters. This will bolster their Tier-1 capital to address future asset growth and meet RBI regulations. Established in 2000, the bank now works out of 172 branches across 5 states, offering loan products mainly to small borrowers.

Indian companies and startups have formed a 40-member task force under IAMAI to address concerns with Google's GPBS. This task force, joined by a Google representative, aims to find solutions for the antitrust issue raised against them. IAMAI has also been actively arguing for Indian startups on other tech issues such as net neutrality.

Aurobindo Pharma rose 5% to a 52-week high of Rs 925.60 on the BSE sparked by reports of it receiving approval to launch cancer drug Revlimid in India. Market size for Revlimid estimated around Rs 35,000 crore and Aurobindo is hoping to corner business worth Rs 4,000-5,000 crore.

Emami, an FMCG major, announced their entry into the health juice market with a 26% stake in Axiom Ayurveda, who markets beverages under AloFrut. On Friday, shares climbed 5%, and year-to-date it has gained 23%. In Q1 FY24, net profit rose 86.5% y/y and stock's day RSI is at 44.5. 25 analysts give 'Buy' recommendation.

The RBI has kept the policy repo rate steady in April, June and August. They have also announced a new Tax Collection at Source (TCS) structure for foreign remittances under the Liberalised Remittance Scheme, effective October 1. This along with the RBI's decision to withdraw Rs 2,000 denomination notes expected to make an impact on expenses during the start of the festival season.

NTPC's share jumped 3.5% to a fresh 52-week high of Rs 247.75 on the NSE on Sept 29 after an 800-MW power plant went on stream, and is likely to rise even further with strong growth expected in regulated equity in its thermal business. ICICI Securities has given a 'Buy' rating with a target price of Rs 300.

JSW Infrastructure's IPO has finalized its share allotment and opened for investors to check their status via Kfin Technologies Ltd, BSE, and NSE. The GMP is Rs 25 suggesting a listing price of Rs 144, with bidding having driven the subscribed amount up 37.37 times more than the issue size. Retail investors have bought 10.31 times allotted quota, HNIs 15.99 times, and QIBs 57.09.

Pro US may be heading back into a "vibecession" - a condition where consumer confidence and other "vibes" threaten to drag the economy down. Published Sept. report shows falling consumer confidence, increasing pessimism about future due to higher energy prices, stock market trends & loan payments restarting.

HMD Global, the manufacturer of Nokia-branded phones, has appointed Tanuj Patro as the CFO for India and Asia Pacific region. He will support their mission to connect people through advanced mobile tech and work with the leadership team to drive financial performance and operational efficiency. Patro has 20 years of experience in finance from Microsoft, Nokia, LG, E&Y, Paytm, etc.

Founders Hemal Bhatt & Tejbir Singh, and four private equity investors have exited fintech healthcare startup Affordplan following an MBO led by CEO Aditya Sharma. New investors, including former Coca Cola CEO Sanjiv Gupta, now own 100% stake in the startup, which focusses on providing cost savings to customers, along with digital wallets, medical loans, and discounts from partners.

India's power demand in September saw a 10-12% YoY growth to 140-142 BUs – a five-year high. August and September marked two consecutive months of all time high peak power demand, with industrial and manufacturing activities contributing to the sharp rise. The government has extended the period for blending imported coal till 2024 while reducing the weightage beginning October 2023.