Data recap: FPI selloff, Reliance bets, Blinkit’s expansion plans

Capital flight

Foreign portfolio investors (FPIs) pulled out ₹48,056 crore from Indian equities till 23 October, extending the exodus of foreign capital from the market. High crude oil prices, rising US bond yields and a stronger dollar have weighed on investor sentiment.

If October ends with net outflows, it will be the seventh month in 2026 to see foreign investors pull money out of Indian equities. Cumulative net outflows have reached about ₹3.10 trillion this year, nearly double the ₹1.66 trillion recorded in 2025.

Last week, finance minister Nirmala Sitharaman flagged the flight of foreign capital towards the US and markets offering greater opportunities in artificial intelligence (AI) as ‘a concern’.

Reliance bet

Two traders have built large leveraged positions in Reliance Industries Ltd (RIL), a move analysts have described as ‘rarest of rare’, a Mint report said. Stock exchange data shows that both traders hold positions exceeding 3% each of RIL’s marketwide position limit (MWPL).

The unusual bets come ahead of the initial public offering (IPO) of Jio Platforms Ltd, RIL’s telecom and digital services subsidiary, in which it owns about 66%. They also come as RIL shares have fallen sharply, hitting a 52-week low on 13 October.

India’s most-valued listed company, RIL, could see value unlocked through Jio Platforms’ public listing, which would give the subsidiary an independent market valuation. However, the rationale behind the traders’ bets remains unclear.

Eternal expansion

Eternal is stepping up its expansion plans for quick-commerce business Blinkit, raising its target to 3,500 dark stores by March 2027 from the earlier target of 3,000. The company had 2,751 stores as of September 2026, adding 308 during the second quarter.

Eternal’s consolidated revenue from operations rose 77.6% year-on-year to ₹24,138 crore in the September quarter. However, profit margins remained thin, and the company reported a cash outflow of ₹1,813 crore. Blinkit accounted for 80% of Eternal’s revenue, making its expansion central to the company’s growth plans.

Eternal remains confident that opening more stores in smaller cities will make business sense. The higher store target also comes as its main rival, Zepto, faces hurdles in raising funds.

Numbers talk

7.9%: This is the year-on-year growth in India’s core sector output in September, up from 5.9% in August. Iron ore, electricity, coal and refinery products led the growth.

759: Number of H-1B visa registrations filed by Infosys for FY27, down from 8,886 a year earlier, amid tighter US immigration policies. TCS registrations fell to 284 from 5,955 last year.

6.5%: Decline in vehicle registrations during this year’s Navratri festival, according to the Federation of Automobile Dealers Associations (Fada). The 2025 festival period had also benefited from GST cuts.

15: Amazon delivery facilities in New York that the e-commerce giant has threatened to close if a proposed bill mandating direct employment of delivery drivers becomes law.

28%: Share of software budgets that large enterprises spend, on average, on vendor upgrades and licensing, leaving less room for investment in AI and innovation, according to a study by software maintenance provider Origina.

Corporate ports

The government plans to convert 11 of India’s 12 major ports into professionally managed companies with independent boards by 2030. The move aims to speed up decisions on port operations, funding and expansion. Under the current system, administrative processes can slow decisions when cargo patterns change or customers’ needs evolve.

Over the past four years, the combined revenue of the 12 major ports has grown at a compounded annual rate of 10.7%. Kamarajar Port near Chennai is the only major port currently run as a company. Under the proposed model, the port company will manage basic infrastructure, while private operators will run terminals and handle cargo under public-private partnership agreements. The new structure is expected to help ports respond more quickly to business needs and facilitate expansion.

Strike bowler

Mitchell Starc’s 450th Test wicket this week put him among an elite group of 10 bowlers to reach the milestone. The Australian left-arm pacer dismissed South Africa’s Wiaan Mulder in the second Test, reaching the landmark in his 109th match. Sri Lankan spinner Muttiah Muralitharan leads the list with 800 wickets in 133 Tests.

However, Starc stands apart for his strike rate, that is, the speed at which he takes wickets. He needs just 46 balls, on average, to claim a wicket—the lowest among the 10 bowlers in the list. That makes him the quickest wicket-taker in the group, though not the most economical. Starc concedes 3.43 runs per over, reflecting the trade-off that comes with his attacking style: he takes wickets quickly but also gives batters more scoring opportunities.

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