🗞️ Daily Business Brief – OCT 28 2025
- Apple joins Microsoft and Nvidia in the $4 trillion market cap club, making the trio together as valuable as China’s entire stock market.
- Microsoft’s stake in OpenAI is now valued at $135 billion after a recapitalization that simplifies governance while keeping nonprofit oversight and strengthening the long-term partnership.
- TPG Capital emerges as frontrunner to acquire up to 20% stake in IIFL Capital, with formal confirmation awaited.
- Index of Industrial Production (IIP) growth for September 2025 remains steady at 4%, unchanged from August’s quick estimate.
- Government approves 8th Pay Commission, which will submit its recommendations within 18 months.
- IIFL Capital may bring in a large PE player as strategic investor; TPG Capital likely to acquire up to 19.99% stake — CNBC-TV18 reports response awaited.
- Indus Towers Concall Highlights: Visibility of anchor customer from day one in Africa; foray expected to be long-term value accretive. Company maintains capital allocation policy and timeline, with no further write-backs expected. Views Vodafone Idea development as positive for the sector.
- BEML signs MoU with Deendayal Port Authority (DPA), Delhi Metro Rail Corporation (DMRC), and Umeandus Tech India Pvt Ltd (UTIPL) for real-time automatic cargo system development.
- NITI Aayog report notes India’s services sector continues to power growth, though job quality and inclusion remain weak.
- Tata Sierra to be launched on November 25 with petrol, diesel, and electric variants.
- BPCL and Oil India sign a non-binding agreement for a new ₹1 lakh crore refinery project.
- ABB India expands local production capabilities with a new line for energy-efficient drives.
- MCX resumes normal trading after a temporary technical glitch; investigation into the issue is underway.
- Premier Explosives secures ₹429.6 crore order from Defence Ministry for supply of chaffs and flares.
- ESAF Small Finance Bank – RBI denies promoter Dia Vikas Capital’s request to acquire shares beyond 5% limit.
- KP Green Energy signs MoU with Fabtech Group to develop green energy–powered life sciences projects.
- US FCC tightens restrictions on Chinese tech companies selling devices in the United States.
- RRP Semiconductor clarifies it has never exported or received any order for ASIC chips under the government’s semiconductor mission.
- HUDCO signs MoU for the Maritime Iconic Structure in Mumbai; to provide ₹5,100 crore to Paradip Port and ₹487 crore to Visakhapatnam Port.
- TVS Motor reports 32% YoY festive sales growth; PLI benefits materializing with EV revenue at ₹1,269 crore. Expects 8% growth in ICE segment, rural demand recovery, and scooter sales outpacing the industry.
- RBL Bank receives open offer from Emirates NBD Bank to acquire up to 415.59 million shares (26% stake); SEBI compliance confirmed.
- Exide Industries invests ₹65 crore in subsidiary Exide Energy Solutions Ltd, raising total investment in EESL to ₹3,947.23 crore.
- RedTape launches new sunglasses line under Apparel & Accessories category, targeting the domestic market from October 28, 2025.
- Lupin inaugurates new corporate office in Bridgewater, New Jersey; expands U.S. presence, plans to grow workforce to 300 employees.
- India Energy Update: Global refinery closures are boosting India’s refinery expansion. Capacity expected to reach 310 MTPA by 2030 (from 258 MTPA), positioning India as a key petroleum export hub aligned with energy security goals.
- Government Sources say Russian oil supply routes will adjust in 2–3 months; no current supply issue as oil prices remain benign and availability high.
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