Investment bankers are proposing a valuation of up to $170 billion for Jio Platforms Ltd., potentially leading to a record-breaking IPO for Reliance Industries wireless carrier. This valuation would position Jio among India s top companies, with the listing expected in the first half of 2026. Revised listing regulations may impact the total funds raised.

An ETMutualFunds analysis revealed that 12 equity mutual funds, including Parag Parikh Flexicap, Quant Smallcap, HDFC Midcap, and Nippon India Smallcap Fund, consistently delivered over 20% CAGR across three, five, and seven-year periods. The study covered 177 equity funds with over seven years of track record, excluding hybrid, sectoral, and thematic schemes. Quant Smallcap Fund and Invesco India Midcap Fund emerged as top performers across timeframes.

Mutual funds are investing in IPO anchor books, raising concerns about potential overvaluation. Fund houses clarify their rationale, emphasizing long-term potential and portfolio fit over hype. Exposures remain minimal, guided by strict regulatory frameworks and internal research models evaluating business fundamentals, governance, and market position.

Britannia Industries’ Q2 profit rose 23% YoY to Rs 655 crore, driven by cost control and stable commodity prices. The company also appointed Rakshit Hargave as its new CEO.

Groww’s IPO enters Day 2 with 57% subscription and strong retail demand, while brokerages including SBI Securities, Religare, and Anand Rathi recommend a ‘Subscribe’ rating. The IPO, trading at a 14.75% grey market premium, reflects strong retail participation and optimism around the fintech’s robust growth and profitability.

Brokerage firms remain optimistic on key stocks across the banking, infrastructure, and pharmaceutical sectors, citing improving earnings visibility and stable margins. Elara Capital has raised its target prices for City Union Bank and Ambuja Cement, while Choice Institutional Equities sees a 30% upside in R R Kabel. Motilal Oswal maintains a Buy on Gland Pharma, and ICICI Securities continues to recommend GAIL with a 17% upside potential.

Emmvee Photovoltaic Power has announced its Rs 2,900-crore IPO, with a price band of Rs 206-217 per share, opening November 11. The company, a leading solar PV manufacturer, aims for a valuation exceeding Rs 15,000 crore. Proceeds will primarily fund loan repayments. This move aligns with India s surging solar manufacturing capacity.

India s booming data center market is poised for significant growth, driven by rising internet traffic, AI adoption, and government initiatives. Brokerages are identifying select stocks with substantial upside potential, with some projected to jump up to 58% as capacity expansion accelerates.

Investors must buy BPCL and NTPC shares today, 6 November, to be eligible for their interim dividends of Rs 7.5 and Rs 2.75 per share, respectively.

Indian government bonds saw gains early Thursday. The benchmark 10-year yield briefly fell under 6.50%. This rise followed continued central bank buying, boosting market sentiment. Investors are steadily increasing their bond positions. Traders are now anticipating new debt supply on Friday. Overnight index swap rates moved higher, tracking US Treasury yields.