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Here are the top stories to start your day.
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⭐ Adani Group to invest ₹1 lakh crore
Adani Group plans to invest nearly ₹1 lakh crore over the next seven years in Karnataka. The company has already invested over ₹20,000 crore in the state and is active in multiple sectors in the state like edible oil, logistics, transport and others.
⭐ Relaxo Footwears reports weak results
Sparx shoes maker, Relaxo Footwears reported a 6.3% year-on-year (YoY) drop in its revenue from operations at ₹670 crore during the September quarter. Meanwhile, its net profit declined by 67.4% YoY to ₹22 crore. As per company, the decline in sales volume in the retail category as consumers shifted to cheaper alternatives mainly due to inflationary pressures impacted the revenue and profitability.
⭐US Fed hikes interest rate again
The US Federal Reserve has raised its key policy rates by 0.75% today, taking the federal fund rate to 4%. This is the sixth consecutive rate hike and fourth straight 0.75% increase by the US Fed in an attempt to ease the inflation rate, which rose to 8.2% in September.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.83% |
| Nikkei 225 (Japan) | ▼ 0.06% |
| Hang Seng (Hong Kong) | ▼ 2.66% |
| SSE Composite (China) | ▼ 0.30% |
| Dow Jones (US) (November 02) | ▼ 1.55% |
| NYSE (US) (November 02) | ▼ 1.72% |
| Nasdaq (US) (November 02) | ▼ 3.36% |
| S&P 500 (US) (November 02) | ▼ 2.5% |
Fact of the day
Call of Duty Modern Warfare II sold $800 million worth of game copies in the first three days of launch, surpassing box-office earnings of Doctor Strange and Top Gun: Maverick.
Source: Money Control