Former IndusInd Bank CEO Sumant Kathpalia has proposed a ₹5.21 crore settlement to SEBI regarding insider trading allegations. SEBI had barred Kathpalia and other executives for trading on unpublished price-sensitive information related to accounting discrepancies. Kathpalia s settlement application includes a pledge of confidentiality, while SEBI impounded ₹19.8 crore from the involved individuals.

US equity futures climbed following strong earnings from tech giants like Microsoft and Meta, despite a volatile Wall Street session. The dollar stabilized after the Federal Reserve held interest rates steady. Asian markets showed mixed performance, with South Korean equities fluctuating after a US trade deal. Investors are now focused on the Bank of Japan s rate decision.

Indian markets experienced marginal gains on Wednesday, influenced by mixed signals. Several companies are in the spotlight due to Q1 results, including HUL, Swiggy, Sun Pharma, and Maruti Suzuki. Tata Steel and M&M reported significant profit growth, while IndiGo s net profit declined.

Indian smaller cities are increasingly participating in the IPO market. Data shows a significant rise in the number of companies from these regions going public. They raised substantial funds through IPOs in recent years. This trend is expected to continue, with more companies planning to tap the capital markets.

Jio Financial Services will raise ₹15,825 crore by issuing convertible warrants. Sikka Ports and Jamnagar Utilities will be issued these warrants. The capital will be used for investments in insurance and lending ventures. Jio has tied up with BlackRock for mutual funds. Jio Financial s board approved the issuance of warrants at Rs 316.50 apiece.

The Federal Reserve decided to keep interest rates unchanged amidst pressure from President Trump and economic uncertainties. This decision follows concerns about new tariffs and uneven economic data, as the committee assesses the impact of trade tensions.

Indus Towers reported a 9.8% on-year drop in Q1 net profit to Rs 1,737 crore, impacted by rising expenses despite a write-back of provisions from Vodafone Idea. Revenue increased by 9.1% to Rs 8,058 crore, with growth in new towers and co-locations. The company is cautiously monitoring Vodafone Idea s financial stability.

Tata Steel s net profit more than doubled to Rs 2,007.36 crore in the June quarter, driven by reduced losses in the UK and improved profitability in India. While consolidated sales volumes declined, higher steel realisations and cost transformation programs contributed to a 10% rise in EBITDA.

Mahindra & Mahindra reported a robust 24% increase in consolidated net profit, reaching ₹4,083 crore, driven by strong performances in its auto and farm sectors. The company experienced significant market share gains in SUVs and tractors, with overall revenue expanding by 22% to ₹45,529 crore.

The bank has engaged Navi Mumbai-based Special Situation Advisors India to find a buyer for 67 large corporate accounts within the next four months. These accounts include Videocon Industries, Frost International, Rotomac Global, Lanco Infratech and ABG Shipyard aggregating to a total outstanding exposure of more than Rs 12,224 crore for the bank, documents accessed by ET showed.