Top headlines: Private banks' Q2 profit soars, FB changes name to Meta

Business Standard brings the top headlines at this hour.

Paytm will be the most valued unicorn in the country at around $20 billion (Rs 1.48 trillion) when it launches its initial public offering on November 8. More on the story in our top headlines this morning.

Private banks' Q2 profit soars 26% as economy shows signs of recovery

The net profit of private banks rose 26 per cent (year-on-year) in the July-September 2021 quarter (Q2) and 21.9 per cent sequentially over March-June 2021 (Q1), marking a phase of recovery in the economy and credit demand. Read more.
 

Paytm pegs IPO at $20 bn valuation, Vijay Sharma says life to become QSQT

Paytm will be the most valued unicorn in the country at around $20 billion (Rs 1.48 trillion) when it launches its initial public offering on November 8. Read more.

Railway ministry asks IRCTC to share 50% of revenue from convenience fee

Monday onwards, half the revenue that accrues to Indian Railway Catering and Tourism Corporation (IRCTC) through the convenience fee on train tickets will go to the Ministry of Railways. Read more.

Facebook changes name to Meta as it refocuses on virtual reality

Facebook Inc is now called Meta, the company said on Thursday, in a rebrand that focuses on its ambitions building the "metaverse," a shared virtual environment that it bets will be the next big computing platform. Read more.

Luxury shopping gets a festive lift after a lacklustre year-and-a-half

All that glitters is not gold; it’s probably Gucci. Indulging in the festive spirit ahead of Diwali, the Italian fashion house recently launched an India-exclusive collection: Exotic bags in three sparkling colours and retailing below the Rs 2-lakh mark. After a lacklustre year-and-a-half, luxury retail shopping in India is gaining traction again. Read more.

India's top listed companies remain the most expensive globally

India’s top listed companies remain the most expensive globally with a price-to-earnings (P/E) multiple that is nearly 50 per cent higher than the global average and 1.5 times more expensive than China’s top firms. Read more.

Covid cases slow down in festival season but watch out for Diwali: Experts

The surge in Covid cases this festival season appears to have been rather subdued. Vaccinations and prior Covid infections may have lowered the count. Read more.