9 FINANCEOUTLOOKINDIANOVEMBER, 2026RUPEE RISES 12 PAISE TO 94.72 AGAINST US DOLLAR ON LOWER OIL PRICESINDIA'S IPO FUNDRAISING SURGES 30% TO RECORD RS 84,400 CR IN H1 FY27MOBIKWIK SWINGS TO $1.25 MILLION PROFIT AS Q2 FY27 REVENUE RISES 9%INDIA'S MANUFACTURING PMI EASES TO 54.7 IN OCT; EXPORT ORDERS SURGEThe rupee rises 12 paise to 94.72 against the US dollar in early trade on Tuesday. The Indian currency gained support from falling crude oil prices and foreign fund inflows into domestic equities. However, a stronger US dollar ahead of the crucial US midterm election kept global investors cautious. This limited the rupee's gains, according to forex traders.At the interbank foreign exchange market, the rupee opened at 94.68 against the dollar. It strengthened further to 94.60 before trading at 94.72, gaining 12 paise from its previous close. The Indian currency had declined 8 paise to close at 94.84 against the US dollar on Monday. This came after it appreciated 50 paise in the previous trading session on Friday. India's IPO fundraise jumped 30% to a record high of Rs 84,400 crore in the first half of the FY27, from Rs 64,900 crore in the same period of FY26. The country's mainboard initial public Indian fintech company MobiKwik reported a net profit of 11.8 crore (approximately $1.25 million) in the second quarter of FY27, marking a return to profitability after posting a loss in the same period last year. The company had reported a net loss of 28.6 crore in Q2 FY26. The latest results reflect growth in its payments business and lending operations, along with better control over operating costs.MobiKwik's revenue from operations increased 9.4% year-on-year to 295.7 crore from 270.2 crore a year earlier. Total income also grew 8.4% to 302.8 crore. The company said higher transaction volumes and increased India's manufacturing PMI eased to 54.7 in October 2026 from 55.1 in September, signaling a slight deceleration in the rate of factory activity. But the index stayed above the 50-point level, indicating further growth in manufacturing. According to the HSBC India Manufacturing Purchasing Managers' Index (PMI) survey, stronger international demand supported industrial activity, with new export orders recording their fastest growth in six months. Meanwhile, easing input cost inflation provided some relief to manufacturers, although business confidence weakened during the month. New business orders continued to increase sharply in October, supported by favourable demand conditions, new client acquisitions and successful marketing initiatives. However, the pace of growth moderated slightly from September's seven-month high. offering (IPO) market has shown robust activity with 71 companies making their stock market debut during the quarter ending September 2026, as compared with 55 companies in the same period last year, according to a Grant Thornton Bharat (GTB) report.A total of 71 companies made their stock market debut between April and September 2026, com-pared with 55 companies in the first half of the previous financial year. Notably, nearly 94% of the total capital raised during H1 FY27 was mobilised in the July-Septem-ber quarter, reflecting a sharp ac-celeration in IPO activity. lending activity contributed to the improvement. The company has now reported its fourth consecutive profitable quarter. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 22.7 crore, compared with a loss of 6.4 crore in the corresponding quarter last year.
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