Today’s stock market news brings major developments across India’s primary markets, banking, inflation, international trade and corporate investment. From Jio Platforms preparing for what could become India’s largest-ever IPO to the government’s proposed stake sale in IDBI Bank, these developments highlight the evolving investment landscape. Jarvis Invest brings you eight important updates to help investors understand the business and economic developments shaping the markets.
Jio Platforms Files RHP for Its Mega IPO: Issue to Open on 21 October
Jio Platforms has filed its RHP with the ROC, Ahmedabad. The IPO opens on 21-October and closes on 23-October, with the anchor bidding on 19-Oct. The IPO will comprise of a fresh issue of 27 crore shares, which is expected to raise more than ₹30,000 crore; making it the largest Indian IPO ever. The IPO price band is yet to be announced. Jio Platforms is a leader in India in terms of wireless subscribers and commands over 40% market share. Reliance Jio is expected to command a valuation of around $110 billion, making it among the 10 most valuable Indian companies.
IDBI Bank Stake Sale Approved: Government Set for ₹52,878 Crore Disinvestment
The government has approved the sale of 60.72% stake in IDBI Bank to Fairfax Holdings of Canada. This will result in disinvestment revenues of ₹52,878 crore, taking it closer to the ₹80,000 crore divestment target for FY27. Between 2018 and 2026, the gross NPAs of IDBI Bank fell from 31.78% to 2.32%. This will mark one of the biggest global investments in the Indian financial sector. While the government will divest 30.48% in IDBI, LIC will divest 30.24%. The government and LIC will still retain 34% stake in IDBI Bank after the sale. The deal was at a price of ₹81 per share.
Stock Market News: Inflation Concerns Grow as US CPI and India’s WPI Rise
After India had seen its CPI inflation spike to 5.54%, there are most instances of spiking inflation. US consumer inflation for September spiked to 3.7% making it almost inevitable that the Fed will take up another rate hike of 25 bps in its October meet. Core inflation remained subdued at 2.6%, but most of the pressure came from food and fuel inflation. Back home, WPI inflation spiked to 11.39% for September amid rising fuel and manufacturing costs. It was 9.92% in August. In the first half of FY27, WPI inflation has averaged 9.85%, led by fuel and manufacturing.
Stock Market News: India’s Exports to China Surge, but Trade Deficit Widens
The first 9 months of 2026 saw a paradoxical trade equation with China. Indian goods exports to China surged by 40.7% yoy, but the trade deficit with China has already touched $105.93 billion. This is 20.7% higher compared to the first 9 months of 2025. Total bilateral trade was $144.45 billion, which comprised of $19.26 billion Indian exports to China and $125.19 billion of imports from China. India imports value-added industrial inputs, electronics, heavy machinery, and organic chemicals from China; while it exports mineral ore, refined fuels, seafood, and farm products.
Stock Market News: New Principal Purpose Test Targets Misuse of India-Mauritius Tax Treaty
To prevent misuse of the Indo-Mauritius treaty, the government has introduced a Principal Purpose Test (PPT) effective August 2026. The PPT will curb misuse of double taxation avoidance agreement (DTAA) with Mauritius. Under the PPT, tax authorities can deny treaty benefits to a Mauritius-based investor if obtaining the benefits was the main purpose of the transaction. The Mauritius entity must have genuine commercial reasons to exist. This will have larger implications for FPIs, private equity funds, venture funds etc. The treaty applies prospectively.
Kumar Mangalam Birla Plans $30 Billion Investment Push Over 2–3 Years
Amidst a volatile global environment, Kumar Mangalam Birla is planning a $30 billion push. The details of this $30 billion investment are to be announced. Birla said that the investment would happen over the next 2-3 years. The group currently derives about 42% of its revenues from outside India. Currently, the group is present in 41 countries with combined revenues of $72 billion per annum. The $30 billion investment will include the $5 billion outlay for the Novelis aluminium recycling and rolling plant at Alabama. Investments in AI will be a lot more calibrated.
Stock Market News: Groww Reports 54% Profit Growth in Q2FY27
India’s largest broking house, Groww, delivered 54% growth in net profits in Q2FY27 at ₹725 crore. However, CAS resulted in a sharp dip in derivatives revenues in the quarter. Revenues from operations were up 47% yoy at ͅ₹1,501 crore in the quarter. However, the CAS impact meant that the net profits were marginally lower on a sequential basis. As of September 2026 end, Groww had a total of 2.40 crore transacting users on its platform, while total customer assets stood at ₹3.90 trillion. On the IPO front, Groww had 22% market share of total IPO allotments in Q2FY27.
Bank of Baroda Faces $15 Billion Lawsuit Linked to NMC Health Collapse
Bank of Baroda may have paid a huge penalty in the NMC Health collapse in UAE, but there may be more problems brewing. BR Shetty has filed a $15 billion lawsuit against Bank of Baroda alleging that BOB officials had facilitated fraudulent transactions and ignored anti-money laundering risks. BR Shetty is the founder of the now-bankrupt NMC Health. Back in 2020, NMC Health was placed under administration due to financial mismanagement and debts of $6.6 billion. Shetty accused BOB officials of facilitating round tripping and also accepting forged documents.
Conclusion
Today’s stock market news highlights several important developments, from Jio Platforms’ proposed mega IPO and the IDBI Bank disinvestment to rising inflation, changing international trade dynamics and fresh corporate investment plans. Groww’s earnings also underscore the growth of digital investing in India, while the legal action involving Bank of Baroda highlights the importance of governance and risk management.
For investors, these developments reinforce the need to assess corporate fundamentals, regulatory changes, macroeconomic trends and risk exposure before making investment decisions. Jarvis Invest continues to help investors navigate market developments with a research-driven approach to investing.
