India · Country watch
Swiggy Shares Plunge, Gujarat Bureaucracy Shifts
Swiggy's shares fall sharply, impacting investors, while Gujarat sees significant bureaucratic reshuffles affecting governance.
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In this briefing Gyanesh Kumar · Election Commission of India · Swiggy · Harshit Prithviraj Gosavi · Gujarat
Regulation
Nothing significant reported today.
Disruption
Nothing significant reported today.
Internal tension
Delhi police detain SIR protesters near EC office
Delhi Police detained several protesters near the Election Commission headquarters as they marched against the Special Intensive Revision (SIR) of electoral rolls, India Today reports. The protest, spanning 88 cities across 18 states, included a 'People's Parliament' and slogans against Chief Election Commissioner Gyanesh Kumar. The demonstration reflects ongoing public dissatisfaction with the electoral process.
Impact Public-sector entities face increased scrutiny and potential operational disruptions due to widespread protests against electoral roll revisions.
Sources: India Today ↗
Safety & health
Nothing significant reported today.
Companies
Swiggy shares drop 17%, hit record low
Shares of food delivery app Swiggy fell by over 17% on Thursday, according to Aajtak. The stock is now 70% below its record high and 55% below its IPO price. This significant drop reflects investor concerns over the company's performance and market conditions. Swiggy, a major player in India's food delivery sector, faces increased competition and market volatility, impacting its stock price.
Impact Investors in Swiggy face significant losses as the company's shares hit new lows.
Sources: Aajtak ↗
Markets
Nothing significant reported today.
Trade
Nothing significant reported today.
Politics
Gujarat sees major IAS officer reshuffle
The Gujarat government has executed a significant reshuffle of its IAS officers, affecting 17 positions, according to NavBharat Times. Key changes include appointing Harshit Prithviraj Gosavi as the collector of Mehsana. The reshuffle aims to enhance administrative efficiency ahead of Diwali and involves several district collectors, impacting local governance.
Impact Public-sector operations in Gujarat may experience changes due to the reassignment of key bureaucratic positions.
Sources: NavBharat Times ↗
Also today in India
- Evening news wrap: Delhi police detain SIR protesters marching towards EC headquarters; Jordan church shooting leaves seven dead & more — Times of India
- Scarier crude awakening looms as oil tops $114/bbl — The Economic Times
- Financials, FMCG lead FPI sell-off; IT stocks buck the trend in first half of October — The Economic Times
- Shriram Finance Q2 profit jumps 59% YoY to Rs 3,677 crore on strong interest income, lower funding costs — The Economic Times
- ICICI Bank, Indian Bank increase FD interest rates — The Economic Times
- "Nothing to fear": DIPAM secy on IDBI deal — The Economic Times
- RBI alert about AI-driven cyber risks: Governor — The Economic Times
- Driving licences in India may have different colours — The Economic Times
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.
The same day elsewhere
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- Colombia: Budget Cuts, Presto Saved, Casanare Bombing
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- France: Moody's Downgrade, Storm Austen Hits, Protests Loom
- United Kingdom: Storm Austen Hits Power, UK Deregulation Drive
- Indonesia: Rupiah Weakens, Gas Export Threat, IPO Pipeline Grows
- Israel: Netanyahu Warns of Sanctions, IDF Drill Planned
- Iraq: Oil Price Rise, Volvo Job Cuts, Gold Price Drop
- Iran: Hormuz Traffic Halted, Forex Reserves Stable
- Italy: Sicily Earthquake, Truckers' Blockades Lifted
- Jordan: Karak Security Tightens, Gold Prices Drop
- Japan: Typhoon Hits Okinawa, Japanese Inflation Rises
- Kenya: Election Bill Passed, Lamu Refinery Concerns
- South Korea: Seoul Boosts Halloween Safety, Hana Financial Profits Rise
- Lebanon: Lebanese Exports to Gulf Drop, Central Bank Reserves Rise
- Morocco: Government Program Approved, Wage Demands Rise
- Mexico: Peso Hits 13-Month Low, National Transport Strike Looms
- Malaysia: Sarawak Assembly Dissolved; Klang Flash Floods
- Nigeria: Ebola Fund Scrutiny, JPMorgan's Banking Move
- Netherlands: Storm Austen Hits, Albert Heijn Cyber Investigation
- Poland: Fuel Prices Adjust, Ministerial Resignations Impact
- Portugal: Taxi Fare Rules Change, Student Protests Disrupt Schools
- Russia: Russia Holds Key Rate, Central Bank Forecasts Higher
- Senegal: Senegal's Urgent Building Audit, Budget Blocked
- Syria: Syria's Financial Reconnection, Israeli Protests
- Turkey: Istanbul Road Closures, Turkey-Canada Trade Talks
- Ukraine: Kyiv Power Cuts, Black Sea Tensions, Export Talks
- United States: AI Stocks Plummet, Metrolink Disruption, Embassy Scare
- Vietnam: Vietnam Eases Investment Rules, Power Supply Measures
- Yemen: Taiz Siege Worsens, Heavy Rain Forecast
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