India's 2021 Vehicle Scrappage Policy aims to retire 22 million end-of-life vehicles by 2030, generating 7 million tonnes of scrap annually. With over 20 million new vehicles added each year, India is the world's third-largest automobile market. The policy has led to the creation of Registered Vehicle Scrapping Facilities and digital certificates of deposit to incentivize scrapping.
Jio Platforms’ IPO will run from October 21 to 23, with a price band of Rs 1,065–1,119 per share. It could raise Rs 30,200 crore, making it India’s largest IPO, and value the company at about Rs 10.3 lakh crore. The issue includes up to 270 million new shares, with allocations for eligible employees and Reliance shareholders.
Bharti Enterprises chairman Sunil Bharti Mittal said Eutelsat OneWeb should receive Indian satellite-broadband approval before Starlink, citing its five-year-old application and ready infrastructure. OneWeb is awaiting final security clearance, as are Starlink and Jio Satellite Communications.
Ashwini Vaishnaw warned that technology disruption, AI-driven job shifts and financial risks could make the coming years turbulent, with developed economies’ high debt potentially unraveling within three to five years. He said India is building resilience by diversifying supply chains, prioritizing trusted partners and rapidly developing expertise in semiconductor materials.
Air France and Smartwings say they will follow Israeli rules barring crew members who hold citizenship— including dual citizenship—of 31 countries without diplomatic ties to Israel from operating flights in Israeli airspace. The restrictions were reported after an Omani co-pilot allegedly attacked a captain and tried to seize flydubai Flight FZ1073.
Brookfield-backed Avaada Group is evaluating Europe and West Asia for international expansion through its solar manufacturing arm, Avaada Electro, which has filed for a ₹7,600-crore IPO. It is considering sales and partnerships in Italy, Germany, the Netherlands, Spain, Saudi Arabia, the UAE and Oman, including exports of solar cells and modules.
SEBI has proposed shifting SME IPO eligibility from paid-up capital to post-issue market capitalisation: firms below Rs 1,000 crore must use SME exchanges, while those between Rs 1,000 crore and Rs 4,000 crore may choose SME or mainboard listings.
Reliance Consumer Products has entered the ready-to-drink dairy market with Joyland flavoured milk, launching strawberry and vanilla variants in ₹20 tetrapaks in Tamil Nadu. The company plans to expand across India and add flavours and dairy beverage categories.
The Cabinet approved selling 60.72% of IDBI Bank to Fairfax Financial for Rs 52,878 crore, valuing the lender at about Rs 87,100 crore. The deal—India’s largest foreign investment in financial services—covers government and LIC stakes and advances a disinvestment process launched in 2021. Fairfax must secure regulatory approvals and address its existing ownership of CSB Bank.
FCI’s grain stocks have reached 84.38 million tonnes—nearly three times the prescribed buffer—amid years of procurement exceeding free-ration distribution. Rising procurement and storage costs could push FY27 food-subsidy spending above the Rs 2.27 lakh crore budget, potentially exceeding Rs 2.47 lakh crore.
Indian bond yields rose Wednesday as crude neared $107 a barrel and hawkish RBI comments fueled expectations of a possible 50-basis-point rate increase in December. The 10-year yield climbed four basis points to 7.40%, its highest in three years, while the five-year yield rose to 7.13%.
ICICI Lombard’s Q2 FY27 net profit rose 15% year on year to ₹946 crore, supported by higher premiums and investment income. Gross premiums increased 9% to ₹7,702 crore, while investment income climbed 29% to ₹1,161 crore. Direct premium growth of 3% lagged the industry’s 7%. The H1 combined ratio worsened to 105.2%; the insurer declared a ₹7 interim dividend.
The power ministry will launch the National Electricity Data Sharing Framework in October, setting common rules for sharing data across the electricity sector to support AI applications in forecasting, grid management and planning. A CEA-led committee will oversee governance, though some data will remain restricted.
Prem Watsa, who arrived in Canada from India with $8, built Fairfax into a long-term investment powerhouse inspired by Warren Buffett and Benjamin Graham. Fairfax’s Rs 52,878-crore purchase of control of IDBI Bank is its biggest Indian bet yet.
Stocks likely to attract attention on October 15 include Reliance Industries, after Jio Platforms filed its IPO prospectus; IDBI Bank, following approval of Fairfax’s Rs 52,878 crore controlling-stake purchase; and Hyundai Motor India, which plans an Rs 11,000 crore Pune investment. CEAT and Tata Technologies reported lower quarterly profits despite revenue growth.
The RBI’s special dollar window for IOC, BPCL and HPCL could redirect $11–12 billion in monthly demand away from the spot market, supporting the rupee and cutting refiners’ transaction and hedging costs. A stronger rupee may lower import costs, but the facility only shifts dollar demand, leaves crude and exchange-rate risks intact, and may be unsustainable as it draws on reserves.
SEBI extended through March 31, 2027, a rule allowing companies preparing for IPOs to alter fresh issue sizes by up to 50% without filing new draft documents, provided they meet compliance requirements. Experts said the flexibility could ease delays and help issuers respond to market volatility, but cannot ensure successful offerings.
India’s trade deficit with China reached $105.93 billion in January–September 2026, up 20.7% year on year, despite Indian exports rising 40.7% to $19.26 billion. Bilateral trade grew 25.4% to $144.45 billion as Chinese exports to India climbed 23.3%.
CEAT’s September-quarter FY27 net profit fell 39.8% year on year to ₹112 crore as high raw-material costs linked to the West Asia crisis squeezed margins. Revenue rose 26.2% to ₹4,762 crore, but EBITDA declined 9.1% to ₹457 crore and its margin narrowed to 9.6% from 13.3%.
Hyundai CEO José Muñoz expects the automaker to regain India’s second-largest passenger-vehicle market position by 2028–29, as Pune’s new plant boosts production. Its annual capacity is planned to rise from 170,000 to 320,000 units by 2030, bringing combined Pune and Chennai capacity to 1.14 million.
Jio Platforms has filed its red herring prospectus for an IPO of up to 27 crore shares, each with a face value of Rs 10. Subscriptions open October 21 and close October 23, with anchor bidding on October 19. The offer reserves up to Rs 500 crore for eligible employees and Rs 2,500 crore for eligible Reliance shareholders.
Banks are rolling out festive-season discounts, cash-backs, fee waivers and loan concessions to spur borrowing and spending. Despite higher loan rates, demand remains resilient amid strong economic indicators and 17–18% annual banking-credit growth. Retail lending during last year’s festive period exceeded Rs 2 lakh crore; bankers expect stronger results this year.
Jio Platforms’ IPO will open October 21–23, with anchor investor bidding on October 19, Reliance Industries said. The offering includes up to 27 crore fresh shares, with allocations of up to ₹500 crore for eligible employees and ₹2,500 crore for Reliance shareholders. Jio Platforms filed its prospectus on October 14 after receiving SEBI’s observation letter in August.
IPO-bound boAt has entered Sri Lanka and Bhutan with audio products, smartwatches and charging solutions, extending a strategy to grow beyond India. Overseas revenue more than doubled to Rs 45 crore in FY26 but accounted for only 1.5% of revenue, which fell for a third consecutive year. Profit rose 38% to Rs 84.5 crore.
India has amended its tax treaty with Mauritius, introducing a Principal Purpose Test from August 10, 2026, to deny benefits when obtaining them was a primary purpose of a transaction. The change targets entities lacking genuine commercial substance and affects investors and funds using Mauritius.
India’s wholesale price inflation rose to a series-high 11.39% in September, up from 9.92% in August, as food, fuel and manufacturing costs climbed. Core inflation also hit a series high of 9.8%, reflecting businesses passing on higher input costs. Economists expect wholesale inflation to remain in double digits, with forecasts near 12% for October.
Toyota launched the updated Glanza from ₹6.99 lakh, adding Level 2 ADAS, comfort features and a CNG automatic option. Its starting price is nearly ₹89,000 above the mechanically similar Maruti Suzuki Baleno, which also offers ADAS and ventilated seats.
Indian trade associations have appealed to Prime Minister Narendra Modi, Rahul Gandhi and Chief Justice Surya Kant to protect businesses and workers from disruptions linked to anti-SIR protests. Delhi traders say barricades, diversions and closures have cut activity to 10–20% of normal levels during the festive season.
Canara Bank’s Q2FY27 net profit rose 8% year on year to ₹5,175 crore, beating estimates, as net interest income climbed 20% to ₹11,005 crore and margins widened. Non-interest income fell 18%, with treasury income dropping sharply amid rising yields. Domestic advances grew 17%, outpacing deposit growth of 11%, while asset quality improved. Shares closed 4% higher at ₹124.76.
Piyush Goyal said India-US relations would remain strong through political changes, backed by shared interests across trade, defence, technology and people-to-people ties. Trade negotiations are advanced but face unresolved issues and uncertainty over US tariffs. India is also open to rebuilding ties with China on fair terms, though trade imbalances and market access remain concerns.
Indian Railways plans 24-coach Vande Bharat Sleeper trains with a proposed capacity of 1,431 berths. ICF Chennai aims to finalise the design by November 2026 and complete a prototype by May or June 2027, followed by trials; no launch date is confirmed. The ministry has proposed 50 trainsets, but the timeline may affect earlier production plans. Final layouts, routes and fares remain undecided.
The Indian Army has received 450 indigenous Nagastra-1R loitering munitions under a ₹158-crore emergency contract, following live trials. Built by Solar Defence and Aerospace, the short-range drones can identify and strike targets, with an option to abort and recover. The delivery follows 480 Nagastra-1 systems supplied in 2024, signalling continued Army demand for precision-strike capabilities.
A design error on Mumbai Metro Line 7A left a nearly 1-km viaduct 2.5 metres short of the clearance needed for overhead wires, risking demolition and about Rs 250 crore in completed work. Airport operator MIAL says the added height would not affect flight paths; MMRDA awaits written AAI approval, and construction has resumed.
Jefferies rates Aditya Birla Capital a top NBFC pick, with a ₹475 target price—about 24% above its current ₹382.80. It expects loans, AUM and earnings per share to grow at 26% annually over FY26–28, with margins improving as rates rise. Stable asset quality and lower exposure to proposed insurance commission limits support its view; it forecasts credit costs of 1.06–1.10%.
India’s liquefied natural gas (LNG) imports saw a change in the list of top suppliers in September, with Oman and Nigeria moving ahead of the US, reported The Indian Express.
India’s wholesale inflation accelerated to 11.39% in September 2026 from 9.92% in August, as the overall WPI rose to 112.5. Fuel and power inflation climbed to 25.85%, while primary articles, manufactured products and food inflation also increased. The government cited higher prices for minerals, food, energy, metals, chemicals and other manufactured goods as key drivers.
Five states have sought pending central funds and clarity on support after the urban livelihoods mission DAY-NULM ended in September 2024 without a confirmed successor. They warn that funding gaps threaten salaries, loan subsidies and bank links for self-help groups serving about one crore urban women. The Centre says no state demands are pending and a new programme is under discussion.
Nomura expects India’s EV adoption to accelerate as policy support, better vehicles and rising fuel costs improve the economics of ownership. It favors Ather Energy, Mahindra & Mahindra and Hyundai Motor, with Tata Motors’ passenger-vehicle business also set to benefit; among suppliers, it prefers Sona BLW and Exide Industries.
Kroger plans to eliminate about 3,000 corporate jobs—37% of its 8,200-person corporate workforce—over three years, following roughly 1,000 corporate layoffs in June 2025. CEO Greg Foran says the restructuring will reduce overhead and duplicated work, freeing money to lower prices, support store employees and improve shopping.
A missile strike damaged an office tower at Saudi Aramco’s headquarters in Dhahran, Saudi Arabia, on Tuesday night. The attack did not disrupt oil production or exports, but it has raised fresh concerns about the safety of the kingdom’s oil supply routes at a time when the global energy market is already under pressure.
Jefferies reiterated its Buy rating on ICICI Prudential AMC and raised its target price 4% to Rs 3,760, implying nearly 28% upside from Tuesday’s close. It lifted FY27–FY29 EPS estimates by 1–2% and forecasts AUM growth of 17% and earnings growth of 14% annually through FY29. Growth drivers include mutual funds, expanding PMS and AIF businesses, and newer initiatives such as SIFs.
Motilal Oswal rates Jubilant FoodWorks “Buy” with a Rs 625 target, about 47% above the current price, citing an attractive risk-reward after the stock’s decline. Domino’s like-for-like sales growth improved, while Popeyes is expanding rapidly. Lower infrastructure spending may support cash flow and returns, though rising costs could keep margins near 12.6% in FY27 before improvement in FY28.
RBI Governor Sanjay Malhotra said nearly one-third of foreign-exchange trades were cancelled on the day they began, suggesting speculation rather than genuine hedging. The RBI has tightened rules to curb one-sided bets, including restricting derivative trades and rebooking, but says the measures are not capital controls and aim to ensure orderly markets—not defend a rupee level.
India has joined a US-led initiative to address government-supported overproduction, while facing a US Section 301 investigation into alleged excess capacity in sectors including solar, steel, petrochemicals and textiles. An adverse finding could bring tariffs or other restrictions. India should seek clear, consistently applied standards and defend manufacturing expansion.
Jefferies expects India’s metal and mining companies to report solid Q2FY27 results, with volume growth supporting earnings. It names Welspun Corp, set for a sixth straight quarter of double-digit EBITDA growth, and JSW Steel, which may benefit from higher HRC prices, as preferred picks.
Brands are expected to spend Rs 2,200 crore on quick-commerce ads this festive season, 50% more than last year, encouraged by reported conversion rates of 3–8%. But ad prices are up 30–40%, forcing brands to reinvest heavily to stay visible. Smaller players face the greatest pressure, and success will hinge on measurable returns, competitive pricing and brand-building beyond these platforms.
Gen Z sees India’s festive season as a series of celebrations, not a single Diwali shopping peak. Brands should build consistent presence from Rakshabandhan through Diwali, pairing creator-led discovery with clear product stories that stand up to recommendations from friends and family.
Adani Enterprises and Jabil have signed a non-binding MoU for a proposed 50:50 joint venture to manufacture and assemble AI and data-centre equipment in India. The venture is expected to produce AI racks, servers, storage, networking, power and cooling systems, with multi-gigawatt capacity and installation services.
Sony Pictures Networks India is launching Tamil entertainment channel Sony VIZHA to reach audiences across television, streaming and social media. Content chief Rajaraman Sundaram said linear TV still has broad reach, though a shortage of culturally relevant local-language content is drawing some young viewers to streaming.
More than two-thirds of Amazon Pay transactions happen outside Amazon, and over 75% of its users live in Tier 2 and Tier 3 cities, CEO Vikas Bansal said. The company aims to grow into a broader financial platform by expanding digital credit in smaller towns, where interest in financial services is high but credit use remains low amid trust and fraud concerns.
Hyundai Motor Group will invest $15.5 billion in India from 2026 to 2032 to expand Hyundai and Kia manufacturing, strengthen local R&D and suppliers, and develop electric-vehicle charging, recycling and other mobility businesses. About $700 million is earmarked for R&D.