Business

Punjab National Bank posted a record quarterly profit, raised its FY27 credit growth guidance and said it sees no need yet to lift deposit rates after the RBI hike.

Federal Bank's September-quarter profit rose 45% to an all-time high, helped by a 26% jump in net interest income and sharply cleaner asset quality.

The windfall levy on diesel exports falls to Rs 8.5 per litre from Rs 16, while petrol exports now attract Rs 2.5 per litre for the next fortnight.

Tech Mahindra's September-quarter profit rose 32.7% as EBIT margin widened to 14.8%, and its board proposed a 1:1 bonus and a Rs 15 interim dividend.

Nestle India's September-quarter profit rose 36% and sales 20%, in line with estimates, but the stock fell nearly 9% intraday on margin worries.

IDBI Bank shares fell up to 7.5% after the Centre picked Fairfax to buy a 60.72% stake at Rs 81 a share, well below Wednesday's close of about Rs 90.

Groww's parent grew revenue 47% in the September quarter while cutting its reliance on equity derivatives, though profit dipped about 1% from Q1.

Canara Bank's September-quarter profit rose 8.4% to Rs 5,175 crore on 20% NII growth and lower bad-loan provisions; the stock gained nearly 5%.

Bank of Baroda told exchanges it has not received NMC founder BR Shetty's $15 billion Bombay High Court suit and will defend it firmly if served.

TARIL's Q2 FY27 consolidated profit more than doubled to about Rs 80 crore on 61% revenue growth, with new Changodar capacity due around Diwali.

The IMF lifted India's 2026 growth projection by 0.6 percentage point to 7%, even as it warned that the West Asia war and costly energy weigh on the world.

CPI inflation rose to 5.54% in September from 4.83%, with food inflation at 7.74% and rural inflation crossing 6% for the first time in the new series.

Avenue Supermarts grew Q2 revenue 17.8% to Rs 19,644 crore, but profit rose just 8.5% as EBITDA and net margins narrowed. It added 15 stores.

Anand Rathi Wealth's adjusted Q2 FY27 profit rose 22% to Rs 121.9 crore, but reported profit fell. It declared a Rs 4 interim dividend.

Poonawalla Fincorp's September-quarter profit rose 21.8% sequentially to Rs 375 crore, with margins widening and gross NPAs falling to 1.20%.

Fortis, Apollo, Max and Yatharth gained as reports said a 30% trade margin cap on 110 anti-cancer drugs would hit hospital earnings less than feared.

The 57th GST Council meeting removed officers' arrest powers, raised the prosecution bar to Rs 5 crore and set a Rs 10,000 floor for show-cause notices.

The Supreme Court asked the Centre to set up a committee on regulating pharma companies' gifts and perks to doctors; drug stocks fell up to 3%.

The RBI hiked the repo rate by 25 bps to 5.5%, changed its stance to calibrated tightening, and lifted its FY27 inflation forecast to 5.2%.

The Union Cabinet approved a Rs 10,000 crore equity fund for growth-stage SMEs and set up an Integrated Transport and Logistics Authority.

Honasa Consumer shares rose as much as 10% after the company said Q2 FY27 net sales value should grow in the early thirties with younger brands up around 45%.

Aramco set Arab Light for Asia at a $5 discount to Oman/Dubai, its widest since 2020, while raising prices for Europe, a relief for Indian crude buyers.

The 57th GST Council meeting will consider ending administrative arrests under GST and raising the prosecution threshold from Rs 5 crore to Rs 10 crore.

Mahindra and Embraer have named Nagpur as the site for a C-390 final assembly facility, but only if the IAF picks the jet for its transport aircraft programme.

Gross GST collections grew 14.7% to over Rs 2.03 lakh crore in September, with import-linked revenue up 26% and net collections up 18.1%.

Bajaj Auto sold 5,38,443 vehicles in September, up 5%, but domestic volumes fell 9% and two-wheeler dispatches at home dropped 12% before the festive season.

Two trader bodies dropped their planned UPI boycott after Sitharaman assured them concerns over the proposed 0.4% merchant fee would be considered.

Trustee Venu Srinivasan has reportedly asked Maharashtra's Charity Commissioner to probe governance at two main Tata Trusts, widening the fight over Tata Sons' future.

The Delhi HC set aside FSSAI's order barring Red Bull from calling its product an energy drink, saying the company was never given a hearing.

Tata Trusts wants TESS and Tata Consulting Engineers merged into Tata Sons so the holding company sheds its NBFC status and can stay private.

Newly listed auto components maker Hero Motors extended its rally to a third session on Friday, climbing to Rs 141.85 and erasing its weak listing-day performance.

The Centre has directed edible oil companies to immediately revise retail prices after slashing import duties on crude and refined cooking oils ahead of the festive season.

Ola Electric stock fell over 9% on Friday after four straight days of gains, as investors braced for a board decision on a proposed rights issue.

Maruti Suzuki has commissioned a 300 kW green hydrogen electrolyser at its Manesar plant, part of a broader push to cut its manufacturing carbon footprint by 2030-31.

Gautam Adani announced a Rs 1-trillion-plus investment roadmap for West Bengal covering ports, logistics, energy and data centres, alongside a Rs 4,000-crore hospital project in Kolkata.

RBI Deputy Governor Poonam Gupta said the rupee's recent depreciation could reverse as India's external position strengthens, citing capital flows and strong growth fundamentals.

Kalpataru Projects International said it has won fresh orders worth about Rs 2,025 crore across power transmission, buildings and oil and gas, lifting its FY27 order intake sharply.

Arvind SmartSpaces shares rallied nearly 12% on Wednesday after its Sarjapur Road project in Bengaluru crossed Rs 500 crore in sales bookings within 30 days of launch.

New RBI directions set separate valuation rules for InvIT and REIT units held by all-India financial institutions, with a Re 1 mark for non-disclosing REITs.

Sterling and Wilson Renewable Energy shares rallied on Tuesday after the company secured a domestic solar order in Rajasthan and a battery storage contract in South Africa worth over Rs 985 crore combined.

Meesho shares jumped 6% in Tuesday's trade, nearing its all-time high, as brokerages flagged strong growth prospects for the e-commerce platform.

Welspun Corp's Saudi associate East Pipes Integrated Company has signed a SAR 771-million steel pipe contract with Saudi Aramco, lifting the stock over 1%.

Indian exports to China rose almost 40% between April and August, driven by electronics and engineering goods, though the trade imbalance with Beijing keeps growing.

Yatharth Hospital shares surged 11% intraday on Friday to a record high, extending a two-day rally to 20% after Advent International agreed to invest Rs 3,150 crore for a 24.9% stake.

The government dismissed reports of a fresh GST levy on UPI payments, clarifying that GST applies only to the new Merchant Discount Rate and can be claimed back as input tax credit.

Adidas has started large-scale layoffs at its India Tech Hub in Gurugram, affecting more than 350 of about 700 employees including software engineers and data scientists.

Saatvik Green Energy shares rose sharply after the company secured a Rs 1,041.63 crore order from the Solar Energy Corporation of India for 600 MWp of solar modules.

Shares of Groww's parent Billionbrains Garage Ventures fell as much as 4.65% after early investors Peak XV Partners and Sequoia sold a 1.69% stake via block deals.

Flipkart announced its Big Billion Days 2026 sale will begin October 9, with early access for Plus, Black and credit card members a day earlier, ahead of the festive shopping season.

HDFC Bank shares rose over 3% on Tuesday after its board forwarded two candidates, one internal and one external, to the RBI for approval as the bank's next MD and CEO.

Bharti Airtel and Reliance Jio have asked TRAI to probe Vodafone Idea over alleged unfair customer-acquisition tactics tied to mobile number portability.

Nagpur-based Solar Industries has signed a $1.35 billion all-cash deal to buy South Africa's Omnia Holdings, its largest overseas acquisition to date.

SEBI has floated two options to fix expiry-day settlement prices for derivatives after traders flagged pricing uncertainty caused by the new Closing Auction Session.

Coforge's Nomination and Remuneration Committee chair D K Singh has resigned citing boardroom tension, days after Chairman O P Bhatt's exit.

Sebi and the RBI launched a pilot called Demat 2.0 that puts corporate bonds on a distributed ledger linked to the digital rupee, aiming for instant settlement of trades.

Ahead of the New Delhi summit, India is expected to back greater use of central bank digital currencies for cross-border trade among BRICS nations while resisting a unified payments system.

Adani entities are in talks with global banks to refinance debt tied to the Ambuja Cements and ACC acquisitions, in what would be India's biggest offshore loan of 2026.

Adani Airport Holdings will sell a 5.54% stake to a global investor consortium in a deal valuing the airport business at about $18 billion.

Coforge stock fell nearly 9% after Chairman OP Bhatt quit the board with immediate effect following an internal audit into a disputed evaluation report.

Amazon India said its seller community topped 20 lakh after adding more than 3 lakh sellers, its strongest annual growth in three years, ahead of the festive shopping rush.

Samsung India has started cutting jobs across its television and home appliance businesses, with nearly 100 executives affected so far amid rising chip costs.

Cipla's US arm Invagen will market Qilu Pharmaceutical's pembrolizumab biosimilar QL2107 in the United States, deepening Cipla's oncology push.

Cradlewise, an AI-enabled smart crib startup, has raised $12 million led by 3one4 Capital and Prudent Investment Management to expand globally.

SBI and former CEA KV Subramanian pushed back on claims that a base revision inflated India's headline Q1 FY27 growth number.

Hexaware CEO Srikrishna Ramakarthikeyan has resigned effective October 28, with EXL's Vivek Jetley set to take over as the IT firm's new chief executive.

Sashidhar Jagdishan will step down as HDFC Bank CEO after resisting chairman Rajiv Kumar's push for a management overhaul, unsettling investors.

Mahanagar Gas raised CNG prices by Rs 2 per kg and domestic PNG by Re 1 per SCM in Mumbai, citing rising input costs tied to Middle East tensions.

Max Estates has acquired an 84.71-acre land parcel in West Delhi through a non-cash share swap, marking its entry into the capital's housing market.

Finance Minister Nirmala Sitharaman urged US investors to build in India across manufacturing, AI, semiconductors and GIFT City finance.

ICICI Bank completed a $1 billion five-year senior notes issuance that drew over $2.3 billion in orders, marking one of the largest dollar bond sales by an Indian lender this year.

TVS Motor Company has appointed international business head Peyman Kargar as its next Director and CEO, effective January 2027, succeeding long-serving chief K N Radhakrishnan.

ICICI Prudential AMC shares slid on Thursday after UK-based promoter Prudential Corporation offloaded a 2% stake through a block deal to meet public shareholding norms.

The government's offer for sale in Hindustan Copper closed with retail bids covering 726% of their quota, prompting the Centre to exercise the entire oversubscription option.

Five block deals worth more than Rs 6,000 crore changed hands on Wednesday, with large stakes traded in PhysicsWallah, Groww's parent, Viyash Scientific and Rubicon Research.

US Treasury sanctioned four India-based companies and three Indian nationals for allegedly moving $119 million of Iranian petroleum products, drawing sharp pushback from Tehran.

Welspun Corp's promoter group and MD & CEO Vipul Mathur offloaded roughly 6.3 million shares worth about Rs 1,417 crore in a block deal.

Air India has asked its owners for about $1.5 billion in fresh capital after posting a record annual loss, Reuters reported.

Vodafone Idea shares surged as much as 8% after reports that the telco is close to finalising a large debt package from an SBI-led bank consortium.

The Centre opened a two-day OFS in Hindustan Copper at a 10% discount, its ninth divestment of the financial year.

The passenger vehicle arm's third hike this year points to persistent commodity cost pressure across both ICE and electric models.

IOC is close to a long-term LPG supply agreement with Algeria's Sonatrach as India works to cut its dependence on Middle Eastern energy routes.

The CCI cleared Tata Steel's acquisition of IQ Martrade's 23% stake in TM International Logistics for about Rs 335 crore.

Jubilant Ingrevia's board has approved a binding term sheet to buy a 40% stake in electronics manufacturer Zettaone Technologies.

Uber has launched train ticket booking on its India app in partnership with ixigo, letting riders book rail tickets and check PNR status within a single app.

Resilient Asset Management, linked to Paytm founder Vijay Shekhar Sharma, sold a stake in the fintech firm via a block deal, with proceeds flowing to Antfin.

Outgoing Tata Sons chief N Chandrasekaran and Tata Trusts chairman Noel Tata reportedly met government officials separately over internal differences.

Defence PSU Bharat Dynamics posted a sharp jump in first-quarter profit and revenue, driven by robust order execution and improved operating margins.

Godrej Industries posted a consolidated Q1 FY27 profit decline of 18.7% even as revenue jumped 22.2% and EBITDA margins expanded.

Tata Motors Passenger Vehicles reported an 80% drop in consolidated net profit for Q1 FY27 as Jaguar Land Rover volumes fell, even as the stock jumped on strong domestic demand and EV growth.

Jubilant FoodWorks posted a 6% rise in consolidated net profit and 14% revenue growth in Q1 FY27, even as it exits the Dunkin' brand in India.

Siemens Ltd's June-quarter profit dropped 18% on higher input costs even as revenue and new orders grew at a healthy clip.

Tyre maker MRF reported a marginal decline in June-quarter profit as higher raw material costs offset nearly 10% revenue growth.

Vodafone Idea's net loss shrank 43% year-on-year in Q1 FY27 as revenue and ARPU rose and the telco added subscribers for the first time since its 2018 merger.

18 tonnes of GI-tagged Mithila Makhana from Bihar has been exported to Australia for the first time, with farmers earning nearly 18% more than market price.

Ola Electric's Q1 FY27 loss narrowed to Rs 336 crore even as revenue fell 45% year-on-year on weaker EV registrations.

State Bank of India posted a 10% rise in standalone net profit for the June quarter, with net interest income up nearly 15% and asset quality improving.

Passenger vehicle dispatches surged in July 2026 as Maruti Suzuki extended its market lead and EV sales crossed 30,000 units for a second month.

SIAM pulled back its communication on E20 fuel contamination after media reports sparked wide debate, saying its data needs further verification.

Karnataka's Labour Department has called Tata Consultancy Services for a conciliation meeting on August 6 after a union complaint over roughly 12,000 planned job cuts.

The Monetary Policy Committee kept rates unchanged and retained its neutral stance amid global uncertainty.

DLF's net profit grew to Rs 794 crore in Q1 FY27 even as revenue from operations fell around 53% on the timing of project launches.

Bharti Airtel's June quarter profit rose 43% to Rs 5,948 crore, powered by ARPU gains and strong growth in its Homes and enterprise units.

New Delhi raised export duty on petrol, diesel and ATF from August 3 to keep more fuel at home as global crude prices swing on West Asia tensions.

One MobiKwik Systems posted a Rs 7.6 crore consolidated profit in Q1 FY27, its third consecutive profitable quarter, as revenue and lending margins improved.

Swiggy has named former Myntra CEO Nandita Sinha to lead Instamart after Amitesh Jha's exit, as quick-commerce competition intensifies.

Startup funding in India dropped sharply in July after a June surge, with large rounds scarce and deal count also declining.