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The week in Indian Business and Markets
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Foreign investors accelerated withdrawals as oil prices, global yields, a stronger dollar and a weaker rupee pressured Indian equities. The selling broadened into a prolonged, marketwide decline that reached the longest weekly losing streak in 25 years.
IPO fundraising and filings remained exceptionally strong while listed equities weakened, but domestic funds began demanding more reasonable valuations. The crowded pipeline and mixed listing performance signaled that primary market enthusiasm was becoming more selective.
Bond yields and short term borrowing costs rose as oil prices, global rates, tighter liquidity and expected debt supply increased pressure on financing conditions. The weaker rupee added imported inflation and currency risk.
Proposed insurance distribution rules drove PB Fintech shares down 42% in four sessions and 50% from their peak. Broker target cuts showed that investors were reassessing the company’s monetisation model and long term margins.
Tata Trusts pursued a restructuring that could avoid a Tata Sons listing, while Noel Tata defended the group’s flexibility and trust members challenged the consultation process. The dispute now combines valuation transparency with internal governance and control concerns.
Jio Platforms completed global roadshows for a proposed $3.8 billion IPO and moved closer to a possible launch later in the month. The offering could become India’s largest public issue and test how much institutional demand the market can absorb.
HDFC Bank ended months of succession uncertainty by appointing Anup Bagchi as managing director and chief executive. Strong loan and deposit growth shifted the focus from leadership risk to execution, margins and asset quality.
Stronger Accenture results and guidance revived hopes that discretionary technology spending may recover, lifting sentiment toward Indian IT stocks. The sector still faces the need to convert that signal into bookings while managing AI related pricing pressure.
Day’s Recap