Today’s stock market news highlights significant developments across India’s primary markets, banking sector, taxation, international trade and corporate earnings. From Jio Platforms fixing its IPO price band to the Supreme Court’s decision on Yes Bank’s AT-1 bonds, these developments could influence investor sentiment and financial markets. Jarvis Invest brings you eight important updates to help investors understand the latest business and economic developments.
Jio Platforms IPO Price Band Set at ₹1,065–₹1,119 per Share
Jio Platforms has fixed the price band for its upcoming IPO in the range of ₹1,065-₹1,119 per share. The IPO size will be ₹30,213 crore and opens for subscription on 21-October. The company has earmarked nearly ₹27,500 crore worth of IPO proceeds to repay / prepay loans. At the upper band price, the company is valued at around ₹10,30,000 crore. The entire IPO will be a fresh issue of shares with no OFS component. The debt repayment will help to substantially strengthen the balance sheet of the company. The target is to make Jio Platforms a zero-net-debt entity.
Stock Market News: Yes Bank Shares Fall After Supreme Court Quashes AT-1 Bond Write-Off
Yes Bank shares crashed on the bourses after the Supreme Court quashed the ₹8,415 crore AT-1 bond write-off. Effectively, the SC has upheld the ruling of the Bombay High Court in 2023, which raised questions over the liability of Yes Bank with reference to AT-1 bonds. The AT-1 bonds were written off as part of the 2020 reconstruction of the company. The court ruled that the bank’s administrator lacked the authority to write off the bonds. This virtually restores the rights of the lenders vis-à-vis Yes Bank. This will also impact SMBC’s 25% stake in Yes Bank.
Stock Market News: Direct Tax Collections Rise 13.2% to ₹13.38 Trillion
Net direct tax collections up to October 14, 2026 were 13.2% higher at ₹13.38 trillion for FY27. This is around the half-way mark. While gross collections were up 14.9% yoy, tax refunds were up 24.2%. Net corporate tax collections for the period rose by 20.6% to ₹5.99 trillion. The growth in non-corporate tax collections (individuals, HUFs) was more subdued at 5.8% for the period. The sharpest increase among the various heads of direct taxes was seen in STT, which grew 51.6% yoy to ₹46,840 crore. Robust tax collections will help defend the 4.3% fiscal deficit target.
Stock Market News: India’s September Trade Deficit Narrows to $30.2 Billion
India’s September 2026 trade deficit narrowed to $30.2 billion. For the month of September, while merchandise exports were up 23% at $44.40 billion, the merchandise imports were up 8% at $74.61 billion. For the first 6 months of FY27, goods exports were up 18.5% at $259.89 billion, while the imports were up 16.3% at $437.53 billion. If services trade was also added, the total exports stood at $81.96 billion, while total imports were at $92.40 billion for September. This widened the overall deficit to $10.51 billion in September, compared to $6.79 billion in August.
Stock Market News: Fairfax May Consolidate IIFL Finance and Go Digit Holdings
As part of its India business consolidation, Fairfax of Canada may look into bringing its stake in IIFL Finance and Go Digit under the IDBI Bank umbrella. As per the GOI statement, Fairfax will take a 60.72% stake in IDBI Bank for ₹52,878 crore. Under the RBI regulations, Fairfax cannot hold a bank and an NBFC under the same umbrella. For Fairfax, the option is to either sell its stake in IIFL Finance and Go Digit, or integrate them under the IDBI Bank umbrella. It may opt for the latter. It is likely to make its IDBI Bank holdings the fulcrum of its India BFSI sector investment.
Gold ETFs Attract $10 Billion in Global Inflows During September
According to a report by the World Gold Council (WGC), the fall in the price of gold has resulted in renewed interest in gold ETFs during the month of September. Global markets saw net inflows of $10 billion into gold ETFs in September taking the total inflows in the September quarter to $31 billion. Gold fell in September from $4,328/oz to $4,141/oz. However, gold is still almost 25% lower than the peak price of $5,602/oz scaled in late January 2026. As per the latest AMFI data, Indian gold ETFs also saw robust inflows of ₹4,451 crore in September, on bargain buying.
Tech Mahindra Reports Strong Q2 Results, Announces ₹15 Dividend and 1:1 Bonus
For Q2FY26, Tech Mahindra reported 15.6% growth in revenues to ₹16,180 crore, while net profits were 32% higher at ₹1,586 crore. On a yoy basis, the EBIT margins improved by 260 bps to 14.8%. Deal flows were more than $1 billion for the fourth consecutive quarter for Tech Mahindra. Even constant currency (CC) growth in revenues on a yoy basis stood at a robust 7.2% in the quarter. The company declared an interim dividend of ₹15 per share as well as a 1:1 bonus to eligible shareholders. The bonus issue comes from Tech Mahindra after a gap of 11 years.
Indian Banking Deposits Cross $3 Trillion for the First Time
In the aftermath of the FCNR(B) deposits being swapped into rupees, the total deposits with the Indian banking system touched $3 trillion for the first time ever. In the first 6 months of FY27, the total deposits were up by ₹21.67 trillion, largely helped by the ₹11 trillion of deposit flows from the FCNR(B) scheme. Banking deposits were up 8.4% as of September 2026, compared to March 2026. However, if one excludes the FCNR(B) deluge in the last few months, the deposit growth has struggled to keep pace with the credit growth, leading to dependence on the CD market.
Conclusion
Today’s stock market news highlights major developments across India’s financial markets, including Jio Platforms’ upcoming IPO, the Supreme Court’s ruling on Yes Bank’s AT-1 bonds, rising direct tax collections and changing trade dynamics. Gold ETF inflows, Tech Mahindra’s quarterly performance and the expansion of India’s banking deposit base also offer important insights into investor behaviour and the broader economy. Jarvis Invest encourages investors to evaluate such developments alongside company fundamentals, regulatory changes and their individual investment objectives before making financial decisions.
