Nifty Bank hits all-time high. Is this the start of Diwali dhamaka?

Sumitomo Mitsui Banking Corporation has decided to cap its investment in Yes Bank at 24.99%, choosing to solidify its presence as the principal shareholder without stepping into an executive role. The Japanese lender is dedicated to overseeing Yes Bank's progress in tackling essential issues, with their current stake at 24.2%. This decision highlights SMBC's focus on governance and strategic guidance.

OnePlus has launched its Diwali 2025 sale with significant discounts on smartphones, tablets, and audio devices. Deals are available on popular models like the OnePlus 13 series and Nord series. Audio products including various OnePlus Buds and Bullets Wireless are also discounted. OnePlus tablets like the Pad 2 and Pad 3 are part of the sale.

SpiceJet is launching special non-stop flights from Mumbai and Ahmedabad to Najaf, Iraq. These flights begin on October 18 and 19, 2025. SpiceJet is now the only Indian airline providing direct flights to Najaf. This offers pilgrims a more convenient and shorter route to a significant holy city. The services will operate between October 2025 and March 2026.

Despite an ongoing U.S. trade investigation into alleged tariff sidestepping, Waaree Energies, India's top solar module maker, remains committed to expanding its presence in the American market. The company is investing heavily in U.S. manufacturing, including cell and battery storage systems, and is confident the probe will have minimal impact on its operations and significant export business.

Small cars are making a comeback in India, driven by government GST rationalization and Maruti Suzuki's strategic focus on converting two-wheeler owners to first-time car buyers. Recent price cuts and attractive financing schemes have led to a surge in bookings, with Maruti aiming to sell significantly more mini cars in FY26.

Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL) has secured a $225.5 million contract from Kuwait Oil Company to build, operate and manage a gas sweetening and sulphur recovery facility at Kuwait’s oilfields. The project will be completed in 790 days, followed by five years of operations and maintenance.

India has denied drugmakers more time to upgrade manufacturing facilities. This decision follows the deaths of at least 24 children from contaminated cough syrup. The government mandated World Health Organization standards after similar incidents abroad. Despite pleas from smaller firms, officials are firm on the deadline.