DATE19 Oct

NIFTY 22,889 ▼ 1.11%BANK NIFTY 55,488 ▼ 0.64%NIFTY IT 31,516 ▼ 1.28%NIFTY PHARMA 25,615 ▼ 0.65%URBANCO 142 ▼ 9.89%HSCL 606 ▼ 8.30%DEEPAKFERT 1,256 ▼ 6.58%FINCABLES 1,282 ▼ 6.23%SAMMAANCAP 126 ▼ 6.02%ANURAS 1,110 ▼ 5.64%UNIONBANK 181 ▲ 5.25%SJVN 51 ▼ 5.14%HFCL 269 ▲ 5.00%CUPID 336 ▼ 4.92%NIFTY 22,889 ▼ 1.11%BANK NIFTY 55,488 ▼ 0.64%NIFTY IT 31,516 ▼ 1.28%NIFTY PHARMA 25,615 ▼ 0.65%URBANCO 142 ▼ 9.89%HSCL 606 ▼ 8.30%DEEPAKFERT 1,256 ▼ 6.58%FINCABLES 1,282 ▼ 6.23%SAMMAANCAP 126 ▼ 6.02%ANURAS 1,110 ▼ 5.64%UNIONBANK 181 ▲ 5.25%SJVN 51 ▼ 5.14%HFCL 269 ▲ 5.00%CUPID 336 ▼ 4.92%

Morning brief · Friday, 23 October 2026

Edelweiss eyes cash from 11,000 crore EAAA offer for sale

Market pulse

The Nifty fell over one percent to close at 22,889 in a broad market selloff. While Union Bank of India bucked the trend to rise over five percent, Urban Company plunged nearly ten percent.

From the investor's mind

One post worth your time, explained

@pranjalkamra · on X

Jio's reported net debt of ₹9,539 crore in June 2026 makes its leverage look extremely low at around 0.12x EBITDA. However, incorporating the company's deferred spectrum payments paints a vastly different picture, pushing the total debt burden up to approximately ₹1.14 lakh crore. This adjustment elevates the telecom giant's leverage ratio to 1.44x EBITDA, representing a more realistic view of its financial obligations. Pointing out this discrepancy, investor Pranjal Kamra emphasizes that understanding this hidden leverage is essential for anyone evaluating the balance sheet ahead of the Jio IPO.

Word in the street

What the wider market is buzzing about

Edelweiss Financial Services Limited

₹124Past year ▲ 7%M.cap ₹11,358 Cr

Investors are actively discussing Edelweiss Financial Services Limited, a company with a market cap of about 11,358 crore whose stock has risen 7.37 percent over the past year. The market is focused on an upcoming offer for sale of its subsidiary, EAAA, which is valued at about 11,000 crore at the top end of its IPO. Shareholders expect the parent company to receive cash from this transaction and use 1,100 to 1,200 crore to reduce debt. This deleveraging should transfer value to parent equity, while Edelweiss retains an 84 percent stake worth about 9,000 crore in the listed subsidiary.

Know more about the stock

Yesterday's big moves