Insurance behemoth Life Insurance Corporation of India (LIC) has increased ⬆️its shareholding by 2 per cent in Capri Global Capital over the last few months at an investment of ₹257.37 crores🎯. LIC has raised its stake in Capri Global from 1,24,00,000 to 1,59,51,171 equity shares. LIC acquired the new shares from June 10, 2022, to October 28, 2022, at an average cost of ₹724.74 apiece.

A Memorandum of Understanding (“MoU”) has been inked between the Bengaluru-based real estate developer Shriram Properties Limited and ASK Property Fund for establishing an investment platform for the acquisition of residential real estate projects in Bengaluru, Chennai, and Hyderabad. Both entities will invest in plotted and residential development projects across the three cities.

🏛️The RBI levied a fine of Rs 1.76 crore 💶on Vakrangee and also on other entities for breaching various rules. The apex bank stated that it has levied a fine of Rs 1,76,00,000 on Vakrangee Ltd for non-compliance with certain provisions of the White Label ATM directions. The Jammu & Kashmir State Co-operative Bank Ltd & The Pratap Co-operative Ltd are also among the entities fined by RBI.

The consolidated profit of plastic product maker Supreme Industries stood at Rs 82.02 crore in the second quarter that ended September 2022, against Rs 228.71 crore net profit reported during the July-September quarter of the previous fiscal. Revenue from operations stood at Rs 2,086.60 crore during the quarter under review, up 8.19 per cent against Rs 1,928.54 crore in Q2FY22.

Canada's main stock index dipped in volatile trading on Monday as markets prepared for the Federal Reserve's policy meeting later in the week, with gains in energy stocks limiting losses. At 10:39 a.m. The S&P/TSX composite index of the Toronto Stock Exchange was down 24.93 points, or 0.13%, at 19,446.26 at 1:00 ET (1439 GMT).

Private equity investor Bain Capital has agreed to offload 1.24% shareholding in private lender Axis Bank Ltd via a block trade on Tuesday, which is anticipated to fetch the investor $410 million. As of 30 September, Bain Capital owns a 4.24% stake in Axis Bank via three entities - BC Asia Investments VII, BC Asia Investments III and Integral Investments South Asia IV.

Verisk Analytics Inc announced on Monday that it will sell its energy research and consulting unit Wood Mackenzie to private equity firm Veritas Capital for consideration of $3.1 billion, in order to streamline its business to focus on insurance. Notably, after a challenge by prominent U.S. hedge fund D.E. Shaw, Verisk had agreed to separate its energy business.

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Thermo Fisher Scientific Inc. announced that it has agreed to buy British specialty diagnostics firm Binding Site for a consideration of £2.25 billion ($2.6 billion). The acquisition will take place in an all-cash deal from owners led by buyout firm Nordic Capital. Notably, despite a challenging fundraising environment, Nordic Capital has recently raised a new buyout fund of €9 billion.

On Monday, the Russian rouble gained in the first session after Moscow said that it would suspend its role in the landmark Black Sea grain deal over the weekend. At 1230 GMT the rouble gained 0.3% versus the U.S. dollar to 61.37, paring its earlier losses that had seen it down 0.6% in morning trading. The rouble traded flat versus the euro at 61.10 and gained 0.4% against the Chinese yuan to 8.37.

ReNew Energy said that it plans to achieve net zero carbon emissions by 2040 through a comprehensive programme of initiatives. ReNew will track progress toward the goals through internal governance processes and external audits. The carbon intensity of ReNew's energy output is 32.83 gCO2/KWh, which is 95% less than the average of the Indian power sector and 94% less than the global average.

📊The U.S. stock futures are expected to open 📉down on Monday, ending a month marked by mixed earning reports and speculation that the Federal Reserve may soften its hawkish stance on inflation. 🔔At 9:01 a.m. ET, the S&P 500 was down 23 points, or 0.59%, the Nasdaq 100 was down 86.75 points, or 0.75%, and the Dow was down 175 points, or 0.53%.

The central bank of India, RBI, will launch a wholesale digital currency pilot program on Tuesday. The objective will be to lower transaction fees and eliminate the requirement for collateral when trading government assets. "The use case for this pilot is settlement of secondary market transactions in govt securities. Use of e₹-W is expected to make the inter-bank market more efficient," RBI said.

Tata Steel Ltd reported an 87% YoY drop in PAT to ₹1,514 Cr for the September quarter on October 31. Profit decreased by 80% sequentially. The revenue for the Tata company remained constant, with a 1% YoY decrease to ₹59,878 Cr. They declined by 6% sequentially. The firm earned ₹6,271 Cr in EBITDA, a 62% decrease from the same period last year and a 58% decrease from the prior quarter.

As per reports, Terra's UST collapse resulted in losses of nearly $190 for Hodlnaut. According to the the Singapore High Court, the Hodlnaut’s directors “downplayed the extent of the group’s exposure to Terra/Luna both during the period leading up to and following the Terra/Luna collapse in May 2022”.