Tuesday saw the rupee gain 10 paisas to end the day at ₹82.71 against the USD as the greenback depreciated from its highs. The local currency varied between a high of ₹82.59 and a low of ₹82.79 when it first entered the interbank foreign exchange market at ₹82.74. The final exchange rate was 82.71 to the USD, up 10 paise from the previous close and in line with the upward trend in local markets.

Bitcoin presently trades at $20,535. In the last 24 hours, the coin moved 0.01% to the downside and increased by 1.67% in the last 7 days. The largest cryptocurrency by market cap is trading sideways. The 24-hour trading volume is at $38.4 Billion, which is a 12.59% decrease in the last 24 hours.

The three-day initial public offering of FMCG firm Bikaji Foods International will begin public subscription tomorrow i.e., November 3, 2022, and end on Monday, November 7, 2022. According to the market observers, the shares of Bikaji Foods are commanding a premium (GMP) of ₹73 in the grey market today. The shares of the company will most likely list on BSE and NSE on Wednesday, November 16, 2022.

Sources claimed that the Indian government might allow Chinese companies to foray into the country's high-tech electronics sector. However, these firms should form a JV and set up manufacturing plants in tie-ups with local companies. A news report also claimed that the joint venture (JV) proposal could be cleared if the Indian partner holds a majority stake and controls the board.

Through the design-led PLI initiative, Tejas Networks will spend more than ₹750 Cr on the production of networking and telecom equipment. Tejas Networks is one of the 42 companies selected for the programme. The Department of Telecom granted clearance to 42 enterprises under the plan for telecom and networking products, leading to a total committed investment by the businesses of ₹4,115 Cr.

BankSathi launched three additional languages on its platform to break the language barrier in financial inclusion. The financial advisory startup made this decision to support the expansion strategies of its customer base and market products and services more effectively. Following this move, BankSathi will now be available in Telugu, Bengali and Marathi as well.

The current value of the Fear and Greed Index is 30, which depicts fear. Yesterday the value stood at 30, which also falls under the fear zone. The present crypto market cap is at $1 trillion, with a 24-h trading volume of $72 billion. The overall market is in green on Wednesday.

Following the lender's announcement of an all-time record net profit of ₹411 Cr for Q2, Karnataka Bank's stock price opened 17% higher and surged to a 52-week high on November 2. The stock went up 16.8% to ₹109.70 at 9:25 am. Prior to declining, it reached a 52-week high of ₹111.60. From the previous year, net profit increased by 228%. The amount of net interest income rose by 26% to ₹802.73 Cr.

Tuticorin Alkali Chemicals and Fertilizers reported a 332.6% rise in net sales at Rs 119.48 crore in September 2022 against Rs. 27.62 crore in September 2021. The company reported a quarterly net profit of Rs. 20.64 crore in September 2022 up 212.55% from Rs. 18.33 crore in September 2021. EBITDA stood at Rs. 22.81 crores in September 2022 up 234.33% from Rs. 16.98 crores in September 2021.

Elantas Beck India reported a 15.28% rise in net sales at Rs 152.89 crore in September 2022 quarter, against Rs. 132.63 crore in September 2021. The quarterly net profit stood at Rs. 27.01 crore in the quarter ending September 2022 up 37.95% from Rs. 19.58 crore in September 2021. EBITDA stood at Rs. 29.59 crore in September 2022 up 40.37% from Rs. 21.08 crore in September 2021.

UPL Limited announced its results for Q2FY22. The company's Q2 FY23 EBITDA surged 35% YoY to Rs2,768 crore. Increased realizations, commendable product mix along with efficient supply chain management caused its EBITDA margins to jump by 278 bps despite the significant external pressures. Its sales increased 18% YoY to reach Rs12,506 crore in Q2.

On Tuesday, the shares of LIC Housing, the country's second-largest housing finance player, touched the 10% lower circuit after its net interest income fell by 80 basis points in Q2. At 9:28 am, LIC Housing Finance was trading 9.99 down on the BSE. Owing to this, global research firm Morgan Stanley has come up with an 'underweight' rating on the stock with a target of Rs 375 per share.

Nykaa's consolidated net profit zoomed multi-fold to ₹5.19 crore in Q2 FY23 as compared to ₹1.17 crore in the same period a year ago. Following this, Jefferies maintained a Buy call on Nykaa shares with a target price of ₹1,650 apiece. Brokerage and research firm Edelweiss is also bullish on Nykaa stock and revised its target price to ₹1,506 per share.

NCC Limited has announced that it has garnered two new orders worth Rs1056 crore (exclusive of GST) in October 2022. The orders have been received from the State Government agencies. NCC Limited's new orders are related to the Water & Environment Division. On Wednesday, at around 9:40 AM, NCC Ltd was trading 1.36% higher than its previous closing on the BSE.

The Board of Directors of Grasim Industries Limited's Finance Committee on Tuesday considered and nodded to the issue of Non-Convertible Debentures ("NCDs") on a private placement basis, for an amount not exceeding Rs1,000 crore. At around 9:17 AM, Grasim Industries Ltd was trading 0.3% higher than its previous closing on the BSE.