Renault is set to launch the new-gen Duster and its seven-seat version, Boreal, in early 2026. Both will have engine options beyond standard petrol and turbocharged units, including mild-hybrid and strong hybrid options. Production will begin this September at Renault-Nissan's Chennai plant, with an expected market launch in early 2026. The Duster and Boreal will also have CNG-powered variants.
Indian markets were poised to open higher, with GIFT Nifty up 100 points at 22,359, after the Nifty and Sensex fell 1.6% and 1.4% on Thursday. Asian markets were mixed; oil prices eased, US futures edged up and Treasury yields declined. Foreign investors sold Indian equities worth ₹12,944 crore. Investors will also watch global cues, crude prices, bond yields and institutional flows.
Anup Bagchi’s proposed annual compensation as HDFC Bank CEO is Rs 35.9 crore, including Rs 18.04 crore in stock options—more than twice the FY26 pay of several private-bank peers. RBI has approved the package, which requires shareholder approval. Bagchi starts a three-year term on October 27, succeeding Sashidhar Jagdishan.
The GST Council proposed easier registration for small e-commerce sellers, automated refunds and registration updates, and uniform tax liability for platforms. It also proposed 5% GST without input tax credit on platform-delivered goods and classifying intellectual-property transfers as services. The text does not specify any proposed tax-rate changes.
Noel Tata has requested a meeting with the PMO to oppose listing Tata Sons, warning an IPO could dilute Tata Trusts’ 66% control and constrain long-term investment. He says the board and principal Trusts had supported keeping the company private, but RBI rules are increasing pressure to list.
Online festive sales are forecast to grow 25–29% to ₹1.5–1.55 lakh crore, but higher product, freight and currency costs—and no repeat of last year’s GST cuts—leave platforms less room for discounts. Prices across major categories are above last year’s levels, while consumers are expected to favour cheaper products and smaller baskets.
Thermax expects biomass revenue to exceed ₹1,000 crore this year, up from ₹600 crore, supported by over 55 plants producing 3,500 tonnes daily. It is exploring expansion in Southeast Asia, West Asia and Africa. CEO Ashish Bhandari sees thermal energy and data centres driving growth, though the West Asia crisis has caused shipping delays and higher freight costs.
GST input tax credit utilisation improved after tax slabs were cut in September: unused credit fell to 21.16% of monthly taxable supplies, from 21.56% a year earlier. The average GST rate dropped to 10.84%, while taxable supplies rose 25.8% to Rs 50.58 lakh crore a month. Experts said the figures do not show how much credit remains genuinely blocked.
The GST Council approved tax reliefs aimed at lowering cultivation costs and improving farm profitability. It cut GST on FCO-registered seaweed biostimulants and retreaded tractor tyres from 18% to 5%, exempted seed storage and coffee curing services, and set GST on psyllium seeds at nil regardless of their form.
India’s apparel market is projected to grow 9% annually, from $95.7 billion in 2025 to $146.3 billion by 2029, as consumers upgrade wardrobes and shift to organised retail and branded clothing. Kidswear and womenswear are expected to outpace menswear, while casualwear and comfort-focused styles gain ground.
The Supreme Court directed the central government to form a panel within two weeks to review unethical pharmaceutical marketing, assess existing rules and enforcement, and recommend a suitable framework. The panel must consult stakeholders and experts, then report within two months of its first meeting. The UCPMP 2024 will remain in force meanwhile.
India’s GLP-1 market value rose 72% year-on-year in September 2026, despite a 10% drop in units sold, as newer products—largely generic semaglutide—drove growth. The broader anti-obesity market reached Rs 287.9 crore. Tirzepatide led with 57.5% of sales; Mounjaro remained the top-selling drug.
Indian equities suffered their steepest one-day wealth loss in five months as the Sensex fell 1.44% to a 33-month low and the Nifty dropped 1.64% to an 18-month low. Record FPI selling, higher interest rates, crude above $104 a barrel and global weakness drove the sell-off; domestic buying offered little support.
Elon Musk questioned why Starlink lacks final approval in India despite being licensed in more than 165 countries, alleging unnamed oligarchs are blocking its entry. His remarks appeared to target Mukesh Ambani, whose Jio has partnered with Starlink but also awaits security clearance.
The WTO raised its 2026 global merchandise trade growth forecast to 3.9%, from 1.9%, after trade grew 3.5% in the first half despite the West Asia conflict. Supply-chain shifts and booming AI-related goods trade helped offset energy and shipping disruptions. Services trade faces greater strain, with growth forecast at 3.3%.
The GST Council approved process reforms, effective April 1, 2027, to simplify compliance, speed refunds and reduce disputes, without changing tax rates. Measures include scrapping GST arrest powers, raising the prosecution threshold, expanding input tax credits and refunds, automating registration and assessments, and limiting transit inspections to intelligence-led checks.
The GST Council eased export rules for Indian firms serving clients through overseas branches and clarified when services involving foreign-owned goods in India qualify as exports. It also confirmed zero-rated treatment for supplies to SEZs and FTWZs, aligned payment rules with RBI standards, and broadened tax refunds—measures intended to lower exporters’ costs and improve competitiveness.
TCS returned to sequential growth in Q2, with revenue up 1.3% to Rs 73,188 crore and profit rising 4% to Rs 13,884 crore. Growth improved across major overseas markets and financial services, while operating margin held at 24%. Annualised AI revenue reached $3.1 billion, but contract wins remained subdued at $9.6 billion.
TCS added 4,258 employees in the September quarter, its third consecutive quarter of workforce growth, taking headcount to 598,056. Hiring slowed from the previous quarter’s 9,279 additions as recruitment increasingly targets AI and other specialised skills. The company onboarded about 10,000 graduates during the quarter, bringing its financial-year total to roughly 24,000 against a 25,000 target.
Arunachal has nearly 19,000 MW of hydropower projects planned or underway. State receives 12% of project power free, while Centre will support a 26% equity stake potentially worth Rs 15,000 crore. CM Pema Khandu says hydropower could boost revenue, investment and energy security, but the proposed Siang Upper project must first pass feasibility studies and legal reviews, with public consultation.
Bharti Enterprises Chairman Sunil Bharti Mittal said satellite services could launch once the government completes spectrum assignment and security checks. OneWeb, Starlink and Jio Satellite Communications have licences and space-regulator clearances; a proposed 5% revenue-based spectrum charge has also been approved.
Air India, Air India Express and Akasa Air will revise fuel surcharges on new bookings from October 9, citing sustained rises in jet fuel prices. Charges vary by route distance and destination; Air India’s international surcharges reach $215, while Akasa will charge up to ₹1,150 domestically and ₹2,500 on listed international routes.
Five stocks may be in focus on October 9. TCS reported Q2FY27 net profit up 15% year on year to ₹13,884 crore and revenue up 11.22% to ₹73,188 crore. JSW Steel’s Q2 crude steel output rose 5% to 7.27 million tonnes. Dr. Reddy’s received two FDA Form 483 observations after an inspection. NCC won a ₹1,286 crore road contract.
The government plans to cap retailer trade margins at 30% for 110 non-scheduled cancer drugs, including 35 patented medicines. A committee will finalise the list within 10 days. Officials estimate prices could fall by up to 70%, saving patients Rs 2,500 crore annually. The cap may squeeze retailers, hospitals and drugmakers; the Supreme Court is also scrutinising medicine mark-ups.
Jio Platforms Managing Director Akash Ambani said its planned, SEBI-approved IPO could be India’s largest, though no listing date was given. Expected to raise about $3.8 billion, the offering will mainly repay telecom debt. Ambani said listing would begin a new growth phase focused on growth and shareholder value while keeping services affordable.
At the India Mobile Congress 2026, Prime Minister Narendra Modi urged governments, technology firms, telecom operators and financial institutions to build a global system that blocks cyber fraud and deepfakes before they reach users. He said India would share its experience tackling cybercrime.
The RBI’s 25-basis-point rate hike is expected to lift banks’ margins as lending rates reprice faster than deposit costs, with ample FCNR(B) liquidity delaying deposit-rate increases. ICICI Securities estimates industry NIMs could expand 14–15 basis points; gains may emerge from Q3 and become clearer in H2 FY27, especially at private banks.
The WMO says El Niño is strengthening rapidly and is expected to peak in December, with nearly 100% odds of lasting through February 2027 and possibly ranking among the strongest since 1950. The IMD also forecasts further strengthening. The event could raise global temperatures and increase drought and flood risks.
India has joined a US-led initiative with 14 other economies to address manufacturing overcapacity, starting with sectors including solar panels, batteries, cars and chemicals. The move comes as India faces a separate US Section 301 investigation into capacity in areas such as solar modules, steel and petrochemicals.
Air India has launched EasyRoam, a travel SIM and eSIM created with Tata Communications, initially available in 30 countries. Plans start at Rs 241, excluding taxes; SIMs are free during launch, but roaming packs cost extra. Customers can activate plans before travelling, keep their number for up to a year for a nominal fee, and get up to 1GB bonus data on eligible plans.
Mahindra Last Mile Mobility is considering nearly doubling its 200,000-vehicle manufacturing capacity, assessing expansion options beyond its Zaheerabad plant, and plans eight new products and variants. It has sold over 80,000 EVs through September, up 58%, and surpassed four lakh cumulative sales.
Jio Platforms’ IPO, cleared by SEBI but not yet officially announced, could raise about ₹37,700 crore and value the company near ₹11 lakh crore. Reliance Industries owns 66.4%; analysts say its share price may already reflect a holding-company discount, while Jio’s expected 3% public float could limit investor shifts from RIL. RIL also retains retail and energy businesses.
ICRA says Irdai’s proposed insurance commission caps could hurt NBFCs and housing finance companies more than banks, as distribution income reached 8% and 7.6% of their FY26 profits, respectively. The rules would also prohibit tying insurance to loan approval and sharply cut credit-life commissions.
Nuvama initiated coverage of Sagility with a ‘Buy’ rating and a Rs 60 target price, implying nearly 38% upside from its Rs 43.49 Thursday close. It cited sticky client relationships, expanding capabilities, cross-selling opportunities and growth in US healthcare outsourcing. Nuvama forecasts 13% revenue and 19% adjusted EPS annual growth through FY29.
CLSA retained its Outperform rating on PVR Inox, setting a Rs 2,135 target price—73% above the cited level—citing stronger film releases, rising footfalls and spending, and fatigue with streaming. It expects expansion to boost growth, including 90–100 screens in FY27 and smart screens in smaller cities. A recent Rs 300 crore buyback and improving cash generation could support shareholder returns.
The Centre approved ₹65 crore for DRISHTI, a GIS-based project to speed up property-rights processing for residents of Delhi’s unauthorised colonies under PM-UDAY. Delhi will establish service cells in all 13 districts and a central unit to survey and map properties, link data with official records, and help residents track applications.
HubSpot will cut nearly 660 jobs, or 7% of its workforce, as it reorganizes around customer outcomes, reduces management layers and gives teams clearer ownership. CEO Yamini Rangan said the cuts reflect the company’s strategy and priorities—not AI-driven efficiencies or simple cost reduction—while HubSpot continues investing in AI.
Nomura cut its PB Fintech target price 31% to ₹1,100, retaining a Neutral rating after the stock fell nearly 45%, as proposed insurance commission caps threaten earnings. Its base case sharply reduces FY28 and FY29 profit estimates. If health-insurance commission caps rise by two percentage points, profits would improve.
Citi says India’s festive season will test auto demand as tougher comparisons, rising commodity costs and a weak monsoon threaten margins, despite healthy volumes. Price hikes, product mix and operating leverage may offer some relief.
Indian markets fell sharply on October 8: the Nifty dropped 1.2% to about 22,328, while the Sensex shed more than 750 points. Adani Green, Adani Enterprises and Adani Power fell as much as 10%; Paytm and Ola Electric also plunged 10%. Fino Payments Bank rose 17% on stronger loan disbursals and deposits, while Senco Gold gained nearly 12%.
Jefferies sees strong opportunities in logistics and power, citing capacity growth, infrastructure spending and improving operations. Its six Buy-rated picks are TCI Express (56% upside), Adani Energy Solutions (53%), Concor (47%), JSW Energy (45%), Gateway Distriparks (44%) and Torrent Power (44%). Key risks include Middle East disruptions, competition, export-import imbalances and interest rates
Jefferies expects the RBI’s shift to calibrated tightening to bring another 50–75 basis points of rate hikes, taking the repo rate toward 6.25% and increasing pressure on equity valuations. It forecasts FY27 inflation at 5.2% and growth at 7.1%, which could support earnings. With large-caps trading at a wider-than-usual discount to mid-caps.
More than 265 of Maharashtra’s 358 talukas have been declared drought-hit after erratic monsoon rains, including all 16 in Yavatmal, which qualify for 12 relief measures. Farmers report sharply reduced cotton, soybean and tur yields, rising debt and livestock sales, with education and festival spending at risk.
Motilal Oswal reiterated its Buy rating on Physicswallah with a Rs 200 target, implying nearly 43% upside from Rs 140. It expects online revenue to grow at about 30% annually over the next 3–4 years, supported by K-12 and state-board courses, and sees offline operations nearing break-even in FY27.
The Ministry of Communications has rejected claims that India is unfairly delaying or blocking Starlink’s plans to launch satellite internet services in the country. The ministry said India’s regulatory framework for satellite communication is fair and applies equally to all companies.
Vishal Nirmiti shares debuted at Rs 215 on October 8, 2.3% below their Rs 220 IPO price, while Nityas Gems and Jewellery listed at Rs 82, 9.3% above its Rs 75 issue price. Vishal Nirmiti’s IPO comprised a fresh issue of up to Rs 145 crore and an offer for sale of up to 15 lakh shares.
Bernstein upgraded Indian Energy Exchange to ‘Market-Perform’ from ‘Underperform’ but lowered its target price to Rs 110 from Rs 115. Legal and operational delays have pushed market coupling to FY28 for day-ahead trading and FY29 for real-time trading, postponing pressure on market share and transaction charges.
Nana Patekar, the acclaimed Hindi and Marathi actor, died aged 75 after a cardiac arrest at his Goa residence. His son confirmed the death, which was attributed to natural causes. A three-time National Film Award winner and Padma Shri recipient, Patekar was known for films including *Parinda*, *Krantiveer* and *Welcome*, as well as his support for farmers and rural communities.
Amazon is reportedly preparing to cut fewer than 1,000 corporate jobs, mainly in its Stores unit, with employees affected in the US, India and UK. The cuts follow 30,000 job reductions since last year and coincide with Prime Big Deal Days promotions. Amazon said the restructuring is intended to better support business priorities. Jeff Bezos has attributed earlier cuts to pandemic-era over-hiring.
Indian markets were set for a cautious, muted open on October 8, with GIFT Nifty down 50 points at 22,542 after the Sensex and Nifty fell on October 7. Asian markets opened lower, oil prices rose, and US Treasury yields remained elevated. Foreign investors sold ₹6,121 crore of Indian equities, while domestic institutions bought ₹4,597 crore. Wall Street also closed lower.
The UPI merchant discount rate (MDR) framework may be delayed from October 15 to January 1, 2027, to give merchants and payment providers more preparation time, though no final decision has been made. The proposed 0.4% fee applies to person-to-merchant transactions above ₹2,000, with a ₹300 cap; small merchants and person-to-person payments remain exempt.