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Digital payments and financial services firm Paytm is set for a post-Diwali launch on November 8. The world’s level of wealth has grown in recent years, but only by exacerbating inequalities and through unsustainable economic practices, according to a World Bank report. Maruti Suzuki’s net profit fell short of Street’s estimates as it fell to Rs 775.3 crore for the September quarter. For all of these stories and everything in between, here are some of the top stories of the day.

ECONOMY / BUSINESS

Deutsche Bank expects a 50bp repurchase rate increase in 2022

Our view is that the first part of a reverse repurchase rate hike is likely in December 2021 and the second part in the first quarter of next year, Deutsche Bank’s Sameer Goel told CNBC-TV18. He further added that he sees a 50 basis point increase in the buyback rate in 2022. Read more

Fuel prices at a record level

Gasoline prices in Delhi rose to record levels of Rs 107.94 per liter as oil trading companies raised prices. Diesel prices in the capital rose to Rs 113.80. read more

Paytm IPO is likely to open on November 8

Digital payments and financial services firm Paytm is set for a post-Diwali launch on November 8 and is targeting a price band of Rs 2080-Rs 2150, according to sources.

MARKETS

Nykaa IPO to open for subscription tomorrow

FSN E-Commerce Venture’s IPO will open for bidding on Thursday. The company aims to raise more than Rs.5,350 crore through the IPO. Here are some key things to know

Maruti Suzuki’s net profit falls 65% to Rs 475 crore

Maruti Suzuki’s net profit fell short of Street’s estimates as it fell to Rs 775.3 crore for the September quarter. Its independent earnings stood at Rs 20,538 crore over the three-month period. Shares of the automaker rose one percent on the news. Dig deeper

Asian Paints best performer in Nifty50

Shares of Asian Paints rose more than 6 percent during Wednesday’s session after a brokerage firm said the company undertook a 9 percent price hike on all portfolios. Dig deeper

INDIA

India criticizes China over new land border law

India on Wednesday criticized China for its “unilateral” decision to implement a new land border law, saying it is cause for concern as the legislation may have implications for existing bilateral pacts on border management and the general question of borders. . Keep reading

Captain Amarinder Singh draws battle lines

Captain Amarinder Singh drew the battle lines before the Punjab Assembly elections in early 2022 with the clear intention that a seasoned political gladiator would not go down without a fight. Keep reading

Karnataka reports 7 cases of the Delta Plus variant

Karnataka currently has seven cases of the Delta Plus variant of the coronavirus, including two AY.4.2 in the city, a senior official said Wednesday. Keep reading

INTERNATIONAL

Jeff Bezos’ Blue Origin plans a ‘business park’ in space

Blue Origin, the space tourism company owned by billionaire and Amazon founder Jeff Bezos, plans to launch a commercial space station in low-Earth orbit by the end of the decade. read more

Haiti paralyzed by fuel shortages

Haiti’s streets were unusually quiet Tuesday and gas stations remained dry as gangs blocked entry to ports that have fuel depots and the country’s top gang boss demanded the resignation of Prime Minister Ariel Henry. Read here

Global wealth has grown at the expense of natural wealth: World Bank

The world’s level of wealth has grown in recent years, but only by exacerbating inequalities and through unsustainable economic practices, according to a World Bank report. Keep reading

YOU AND I

Anand Rathi’s Diwali Stock Picks: From Infosys to Rossari Biotech

With the holiday season just around the corner, Anand Rathi Financial Services has listed his best stocks. Check out the Diwali stock picks here

Life insurance policies: here are key exclusions

Life insurance policies come with various benefits, but they also have their own set of exclusions. Knowing these exclusions is very important to avoid unpleasant surprises during the claims process. See list here

(Edited by : Yashi Gupta, Aditi Gautam)

First published: IST

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