Asian markets traded mixed after Fed Chair Jerome Powell’s cautious remarks tempered hopes of further rate cuts, while Reliance Jio joined hands with Google to offer free Gemini Pro subscriptions worth ₹35,100 to young users.
On the corporate front, ITC beat profit estimates with a 2% rise in Q2 earnings, driven by steady FMCG and cigarettes performance. Cipla’s Umang Vohra clarified he isn’t retiring even as he exits the CEO role, Dabur India’s profit rose 6.5% but missed estimates, and Swiggy’s losses widened sharply. Lenskart’s IPO buzz cooled with its GMP slipping.
Globally, Meta shares fell despite an earnings beat, while Donald Trump’s call to resume nuclear tests sparked outrage. In Bihar, Prime Minister Modi intensified his attack on the opposition ahead of the 2025 elections.
Trump-Xi meeting: US reduces tariffs on China to 47%, tariff on fentanyl down to 10%
The United States said on Thursday (October 30) that tariffs on China will be 47%, down from 57%. The US said there will be no more roadblocks on rare earths, and it is a one-year agreement that will be extended.
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India receives exemption from US sanctions on Iran’s Chabahar Port for next six months
India has obtained an exemption from the United States’ sanctions for its operations at Iran’s strategic Chabahar Port for next six months, Ministry of External Affairs said on Thursday, October 30.
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Asian stocks mixed as Powell cautious on rate cut
Asian stocks struggled for direction after Federal Reserve Chair Jerome Powell cautioned about further interest-rate reductions, saying a cut in December isn’t a foregone conclusion.
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Jio, Google partner to offer free 18-month Gemini Pro plan worth ₹35,100 to young users
Reliance Industries Ltd (RIL), through its subsidiary Reliance Intelligence Limited, has partnered with Google to offer young Jio users free access to Google’s premium Gemini Pro plan—valued at ₹35,100—for 18 months.
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Umang Vohra says his job at Cipla is complete, clarifies he is not retiring
In an exclusive conversation with CNBC-TV18 on Thursday (October 30), outgoing Cipla Managing Director and Global Chief Executive Officer Umang Vohra said his journey at the pharmaceutical company has reached its natural conclusion, while clarifying that he is not retiring. As a company, Vohra said that Cipla is run by professionals with guidance from promoters and management teams also need to change every 11-12 years, as change can also be good.
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Dabur India Q2 Result: Profit up 6.5% YoY but misses estimates; margins steady
FMCG major, Dabur India Ltd on Thursday reported a 6.5% year-on-year (YoY) rise in consolidated net profit at ₹444.8 crore for the July–September quarter (Q2 FY26), missing Street expectations of ₹450 crore. Revenue for the quarter grew 5.4% YoY to ₹3,191.3 crore, against ₹3,029 crore a year ago, narrowly missing the estimated ₹3,210 crore.
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ITC Q2 standalone net profit rises 2% on strong FMCG and cigarettes performance; beats estimates
Diversified conglomerate ITC Ltd on Thursday (October 30) reported a standalone net profit of ₹5,180 crore for the second quarter, up 2% from ₹5,078 crore in the same period last year. Revenue stood at ₹18,021 crore, reflecting a 3.4% decline from ₹18,648 crore in Q2 of the previous year.
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Swiggy Q2 net loss widens to ₹1,092 crore; to consider ₹10,000 crore fundraise
Food delivery aggregator Swiggy Ltd. reported a net loss of ₹1,092 crore for the September quarter, which was higher than the ₹626 crore loss it had reported during the same quarter last year.
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Meta shares fall up to 9% in extended trading despite earnings beat on tax charge, capex outlook
Shares of Meta Platforms Inc., parent company of social media platforms Facebook, Instagram and others, fell as much as 9% in extended trading on Wednesday, despite its third quarter results surpassing expectations comfortably.
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Lenskart IPO: GMP falls to ₹48 ahead of issue launch on Friday
Shares of eyewear retailer Lenskart Solutions Ltd. are trading at a 12% premium in the grey market, an unofficial ecosystem where shares change hands before IPO allotment and continue trading until the listing day. Investors often track the grey market premium (GMP) to gauge potential listing gains.
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‘Had no choice’: Donald Trump instructs US to resume nuclear weapons testing for first time in over 30 years
US President Donald Trump on Thursday, October 30, instructed the Department of Defence to resume testing the nation’s nuclear weapons “on an equal basis.” Taking to the social media platform Truth Social, he said that the nuclear weapons testing is in response to testing programs by ‘other countries’.
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Bihar Elections 2025: Congress-RJD insulting ‘Chhathi Maiyya’, people will never forgive them, says PM Modi
Prime Minister Narendra Modi on Thursday (October 30), charged the opposition Congress-RJD combine in Bihar with insulting ‘Chhathi Maiyya’, having “problems with Ram temple at Ayodhya” and “protecting infiltrators” for the politics of vote bank and appeasement.
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We’ll see you on Friday with another engaging ‘Top 10@10.’