Midwest, a natural stone exporter, is launching its Rs 451-crore IPO on October 15. The offering includes fresh shares and existing shareholder sales. The price band is set between Rs 1,014 and Rs 1,065. Midwest mines granite in Telangana and Andhra Pradesh and exports to 17 countries. The company plans to use IPO funds for expansion and sustainability initiatives.
Gold prices surged on Wednesday, nearing record levels. Investors sought safety in bullion as U.S.-China trade tensions escalated, increasing global uncertainty. Expectations of further U.S. interest rate cuts also fueled the rally. Silver prices also climbed, tracking gold's upward movement. Platinum and palladium prices remained steady. Investors are closely watching upcoming economic data releases from China and Europe.
China's consumer prices declined by 0.3% in September, marking a continued period of deflation. This dip, coupled with persistent producer price deflation, reflects the impact of domestic economic weakness and renewed trade tensions on confidence. The monthly CPI saw a slight increase of 0.1%.
LG Electronics is set to tap into India's software talent for its semiconductor, robotics, and AI product development. The company also aims to boost exports of components from India. This strategic move capitalizes on India's growing capabilities and cost-effectiveness. LG Electronics sees India as a key partner for innovation and global market expansion.
Investors rushed to buy LG Electronics India shares on its stock market debut. Some mistakenly purchased shares of LG Balakrishnan and Bros, a different company. This led to a surge in LG Balakrishnan's stock price. The error was later realized, and the stock price reversed. Similar mix-ups have happened before in the market.
Indian stock indices fell for a second day as global investor unease over US-China tensions weakened risk appetite. Gold prices hit a new all-time high, attracting funds from equities. Analysts anticipate a positive setup for Nifty and expect outperformance from Bank Nifty, with buying interest seen in banking and financial stocks.
The International Monetary Fund has increased India's economic growth forecast for the fiscal year 2026 to 6.6 percent. This positive outlook comes despite recent US tariffs on Indian goods. India is projected to achieve the highest growth rate among advanced economies, emerging markets, and developing countries for the current and next fiscal years.
LG Electronics India debuted on Indian bourses with a 50% premium, surpassing its Korean parent in market value. Analysts suggest booking profits on listing gains, with potential re-entry opportunities after Q2 results, especially on dips towards 1,600-1,630.
