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.

Tata Motors offer is aimed at acquiring 100% of Iveco s common shares with a subsequent delisting of Iveco Group from the Euronext Milan stock exchange. The all-cash offer valued Iveco at about Rs 3.8 billion ($4.4 billion). Both companies believe that having Iveco operate as a wholly-owned unit of the Mumbai-based automaker is crucial for its sustainable success and long-term value creation. Iveco has a diversified business with 74% of revenues from Europe and the rest from South America, Africa, and Oceania.

The Indian rupee is anticipated to decline further, potentially reaching historic lows, after the U.S. imposed 25% import tariffs on India. This decision by President Trump led to a weaker rupee in offshore markets, signaling a potentially weak opening in the local spot market.

The Federal Reserve maintained its key short-term interest rate, defying President Trump s persistent calls for a reduction. The rate remains at 4.3%, a level established after three cuts last year, with officials citing the need to assess the impact of Trump s tariffs on inflation and the economy.