Sovereign Gold Bonds are delivering exceptional returns, with one series, SGB 2017-18 Series VI, offering over 300% to investors. Maturing on November 6, 2025, this bond was issued at Rs 2,945 per gram (or Rs 2,895 for digital applicants) and will be redeemed at Rs 12,066 per unit, resulting in significant capital appreciation.
India is restricting satellite usage linked to Chinese entities for domestic broadcasters and teleporters, enhancing national security amid geopolitical instability. This move encourages the development of domestic satellite capabilities, with authorities denying applications from Chinese and Hong Kong-based operator.
Mahindra & Mahindra has divested its entire 3.5% stake in RBL Bank for Rs 678 crore, realizing a significant gain. This move precedes Emirates NBD’s open offer to acquire a substantial stake, aiming to merge its India operations with RBL Bank and bolster its capital.
Domestic institutional investors now hold a record 18.26% of Indian equities, surpassing foreign ownership for the first time in 13 years. This shift, driven by strong retail inflows into mutual funds, highlights India’s ‘retailisation’ amid global uncertainties and stretched valuations, making the market resilient to foreign selling.
Bitcoin has fallen below $100,000, with long-term holders cashing out driving the downturn. This selloff, unlike October’s leveraged liquidations, stems from waning investor conviction, with significant profit-taking observed. Analysts warn this selling pressure could persist into next year.
Policybazaar’s healthcare arm, PB Health, has secured $218 million in its seed funding round, led by General Catalyst. The company is expanding into preventive healthcare with the acquisition of diabetes care platform FiAerfly and plans to establish a 1,200-bed hospital network in Delhi NCR.
India’s state-run oil refiners saw profits surge 457% in Q2, driven by lower global crude prices and strong refining margins, not discounted Russian oil. Dependence on Russian crude dropped significantly, with refiners shifting to West Asian and US supplies due to sanctions and unfavorable economics.
Gold and silver price prediction today: Gold prices show signs of exhaustion, potentially heading towards 117000-115000 levels before a rebound, according to Nuvama’s Abhilash Koikkara. Traders are advised caution and to buy near support. Silver faces pressure, with a target of 141500, and selling on rallies is recommended amid dollar strength and rising yields.
The FAA is reducing air traffic by 10% in 40 busy markets due to government shutdown-related staffing shortages among air traffic controllers. This unprecedented move aims to prevent a safety crisis, with thousands of flights potentially affected daily. Officials emphasized the proactive nature of the decision to maintain safety.
