Knack Packaging has filed its DRHP with Sebi to raise Rs 475 crore via a fresh equity issue, along with an OFS of 70 lakh shares. Proceeds of Rs 435 crore will fund a new manufacturing facility in Gujarat. Systematix, IDBI, and Pantomath are lead managers.

The S&P 500 and Nasdaq reached record highs on Friday following disappointing August jobs data, fueling anticipation of Federal Reserve rate cuts. Broadcom s strong quarterly earnings further contributed to the positive market sentiment. The Dow Jones Industrial Average also saw a slight increase at the opening bell, reflecting the overall optimistic trend.

SpiceJet faced a setback in the first quarter of fiscal year 2025. The budget carrier announced a consolidated net loss of Rupees 234 crore. This contrasts with a net profit of Rupees 158 crore in the same period last year. Revenue from operations also declined significantly. It fell by 36 percent year-on-year, reaching Rupees 1,060 crore.

Ahmedabad-based Chartered Speed plans to raise Rs 855 crore through an IPO, comprising a fresh issue and offer for sale by promoters. The company will use proceeds for electric bus purchases, debt repayment, and general corporate purposes. With over 2,000 buses, it has shown strong revenue growth and profitability, and is focused on green mobility initiatives.

Sanjiv Bajaj hailed the government’s GST rate cuts as the biggest reform since 2017, calling it a major driver for demand, lending, and financial services. He expects festive spending, MSME growth, and housing finance to benefit, alongside expanded insurance coverage due to exemptions.

The rupee slightly appreciated to 88.11 against the US dollar due to a weaker greenback and lower crude oil prices. However, persistent foreign institutional investor outflows limited further gains. Positive domestic equity market sentiment, with Sensex and Nifty rising, provided additional support to the rupee.

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The US-Japan auto tariff cut and potential easing of semiconductor duties signal shifting trade policy, but Jahangir Aziz warns deeper uncertainties loom with IEEPA under judicial review. He highlights risks for global trade, India’s cautious stance, and temporary boosts from GST reforms and consumption measures.

Further, European diesel spreads are firm on lower imports after the EU announced a ban on refined product imports made from Russian crude starting January 21, 2026. Gasoline margins are strong, with US gasoline inventories at a 5-year average. The report further stated, “Reliance has the flexibility to produce diesel from Middle East crude for export to the EU.

He noted that the downside in equities is likely to remain limited, with sentiment gradually improving across sectors. “The clear beneficiaries we saw in the initial round were consumer discretionary companies, FMCG, auto companies, and so on. My sense is we will continue to see more upside in the markets, and any decline in the near term would be a good opportunity to invest.”