33 C 
Indian equities closed lower on Wednesday as investors booked profits ahead of key US inflation data. The Nifty 50 fell 0.44% to 22,623, while the Sensex declined 0.34% to 72,782. Nestle India and Infosys led Nifty gainers, while Shriram Finance and HDFC Life topped the losers list.
Hyundai Motor India to invest Rs 11,000 crore at Pune plant
Hyundai Motor India announced plans to invest Rs 11,000 crore at its Pune facility in phases. This investment aims to expand manufacturing capacity and enhance industrial development in the region. The Pune plant currently has an annual capacity of 170,000 units, which will increase to 320,000 by 2030. This investment follows Hyundai's earlier commitment of $15.5 billion for a comprehensive strategy over seven years.
EPF withdrawal rules: Form 121 replaces Forms 15G and 15H from April 2026
From April 1, 2026, Form 121 replaces Forms 15G and 15H for eligible taxpayers seeking TDS relief on specified income, including qualifying EPF withdrawals. Check who can submit the new declaration, its validity and why it does not automatically make taxable withdrawals tax-free.
Government mulls further tightening of FDI norms in tobacco sector: Sources
The Indian government is evaluating a proposal to restrict foreign direct investment in the tobacco sector. This initiative aims to tighten FDI regulations related to licenses, trademarks, and management contracts. Previous efforts to enhance these norms faced challenges from tobacco farmers' associations. The proposal is crucial as India aims to comply with the World Health Organization's regulations on tobacco control.
Leela reports operating revenue of Rs 412 cr in Q2FY27, PAT at Rs 95 cr
Leela Palaces Hotels & Resorts achieved a revenue of Rs 412 crore in quarter two of FY27. This reflects a 33% increase compared to the same quarter last year. The net profit for the quarter also rose to Rs 95 crore, demonstrating strong performance. Average daily rates increased by 30%, indicating robust demand across various customer segments.
Holiday on Maha Saptami Puja: Bankers in West Bengal are appealing for an additional holiday on October 17 to celebrate Maha Saptami Puja. While days off are currently set from October 18 to 21, the absence of a holiday on the 17th has prompted the All India Bank Officers' Confederation to reach out to Chief Minister Suvendu Adhikari.
Property tax waiver extended for residents of this part of Delhi: Check the new deadline to pay tax
Delhi property tax: The Municipal Corporation of Delhi has introduced SUNIYO 2.0, an amnesty scheme for homeowners with unpaid property taxes. Taxpayers are required to pay only the principal amount for the fiscal years 2025-26 and 2020-21 to 2024-25. All previous interest and penalties for tax dues before 2020-21 will be waived completely. Property owners must take advantage of this scheme before the deadline of December 31, 2026, which has been extended from September 30, 2026.
The EPFO has extended the September 2026 ECR filing deadline for employers from October 15 to October 31, following the increase in the PF wage ceiling from Rs 15,000 to Rs 25,000. Employers must calculate contributions using the applicable wage ceilings. Meanwhile, eligible establishments can apply under the EPFO Amnesty Scheme 2026 for retrospective regularisation of exempt PF trusts by December 28, 2026.
Indias gem and jewellery exports up 9.43% on-year in September
In September, India's gem and jewellery sector saw a notable rise in exports, driven by a robust appetite for studded gold jewellery and lab-grown diamonds. Total exports climbed to $2.95 billion, showing resilience against global trade challenges.
Reliance starts new rivalry with ITC, Amul & others with a Rs 20 drink
Reliance Consumer Products has launched Joyland flavoured milk in Tamil Nadu at 20, entering India's growing ready-to-drink dairy beverage market dominated by brands such as Amul, ITC, Mother Dairy and Cavin's. Available in Strawberry and Vanilla and other flavours, Joyland expands Reliance's consumer goods portfolio beyond Campa soft drinks. India's flavoured milk market is projected to reach 8,360 crore in 2026.
SIF AUM crosses Rs 38,000 crore in September; folios top 1.5 lakh
Specialised Investment Fund (SIF) strategies received total inflows of Rs 7,578 crore in September, compared with Rs 7,699 crore in August.
The Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to a Fairfax Group arm, Union Minister Ashwini Vaishnaw said. The government and Life Insurance Corporation of India will retain a combined 34% stake in the restructured entity. Vaishnaw called it Indias largest financial-sector FDI.
Norwest invests over Rs 300 cr growth equity in SILAs realty development business
Norwest has made a noteworthy investment of over Rs 300 crore in SILA Properties, valuing the company at Rs 1,000 crore. This strategic funding marks a pivotal growth equity move within India's real estate arena. SILA intends to leverage this capital for land acquisitions and the development of luxury residential properties in Mumbai and Alibaug, with aspirations to attract more institutional investment through tailored platforms.
Apollo Pipes and Hirect among top 10 unique stocks held by mutual funds in September
Around 275 unique stocks were held by only one mutual fund house in September 2026. Among these, several stocks had holdings worth over Rs 100 crore, led by Network People Services Technologies, Marathon Nextgen Realty and Vindhya Telelinks.
Applying for a fresh passport involves more than filling out an online form. From selecting the right service and booking an appointment to arranging documents and paying the applicable fee, here's what applicants should know before getting started.
Centre extends bid deadline for advanced chemistry cell battery PLI scheme to November 10
In a recent announcement, the Ministry of Heavy Industries confirmed the extension of the ACC Production Linked Incentive Scheme deadline to November 10, 2026. Manufacturers now have more time to submit technical bids, which will be addressed on November 11, 2026. This initiative seeks to support local ACC manufacturing efforts, ultimately reducing imports and enhancing India's battery production landscape.
Own a house in another city? Heres what it costs to manage it
Remote property owners can outsource vacation-rental operations or long-term tenancy management, but these services and fees come at a high cost.
Aegis Logistics to acquire 89.8% stake in Dubai-based Tristar Holdings for $809 million
Aegis Logistics is set to acquire 89.8% stake in Tristar Holdings, based in Dubai, for $809 million. The deal seeks to strengthen Aegis's global footprint in liquid logistics and creating new avenues for business growth. The acquisition is expected to complete by the fourth quarter of FY27.
Aons survey of more than 1,200 Indian employers projects average salary increases of 9.1% in 2027, led by non-banking finance, energy and real estate. Attrition rose to 18% in 2026, while AI adoption and demand for specialised skills grew. Most employers are preparing for Wage Code compliance.
Indians can access stocks of US companies such as Apple, Tesla and more. Check your options.
The latest MoU between NSE International Exchange and the London Stock Exchange could widen access to global investment products through GIFT City. Here's what this could mean for Indian mutual fund investors, which ETFs may become accessible, and what regulatory hurdles they should consider.
Lighthouse Learning has taken ownership of Pathways School, Gurugram, and renamed it PSG Clifton International School. The move follows a partnership with UK-based Clifton College, marking the institutions first international collaboration in its 164-year history.
Wife wins divorce and Rs 10,000 monthly maintenance after proving husband is incapacitated from having physical relationship; Kerala HC order explained
JioHotstar has partnered with NBCUniversals The Peacock Hub for the ninth and final season of Koffee With Karan, hosted by Karan Johar, premiering October 14. The collaboration marks a shift from distributing global content to supporting Indian originals, reflecting growing international interest in homegrown intellectual property.
India looks to AI to make power grid more reliable, secure and smart: MoS MNRE
India is focusing on the integration of artificial intelligence in its power sector to improve reliability and security. The government aims to enhance grid management, demand forecasting, and renewable energy integration with AI. Following the successful achievement of its renewable energy capacity target, India is expanding its electricity infrastructure significantly. Around 7.75 crore smart meters have been installed to better monitor consumption patterns across the country.
Should you increase your SIP when your mutual fund is delivering negative returns? Understand when to continue a step-up, how rupee-cost averaging works, why sustained underperformance needs scrutiny, and how your investment horizon should shape the decision.
Delhi High Court seeks FSSAI, Centre's response on sale of non-dairy products as paneer
In a significant move, the Delhi High Court has called for replies from the FSSAI, the Centre, and the Delhi government concerning a public interest litigation (PIL). The PIL raises serious issues around non-dairy items being sold under the guise of 'paneer'. The petitioners stress the difficulty for consumers to ascertain the authenticity of paneer in restaurants and hotels. They advocate for product testing and explicit labeling of substitutes.
Seven equity mutual funds across large-cap, mid-cap, and flexi-cap categories have multiplied investor wealth over 10 times in 20 years, according to FundsIndia's Wealth Conversations Report. Nippon India Growth Mid Cap Fund led gains, expanding money 18.4 times with a 15.7% CAGR over the two-decade period.
India to roll out BS-VII emission norms for vehicles from April 2029 in 3 phases: Report
The government is preparing to implement BS-VII emission standards, which align with Euro 7 norms, starting in April 2029. These standards will enforce stricter pollution controls and require automakers to upgrade their engines and emissions systems. Existing vehicles compliant with BS-VI norms will not be affected during this transition. Specific timelines for the introduction of the standards for different vehicle categories have also been outlined.
Three questions to answer before your next marketing spend
To excel in marketing, it is vital to prioritize clear strategies that outline target audiences, key goals, and engagement levels. By honing in on decision-makers and aligning campaigns with specific objectives, brands can boost their visibility and influence, ensuring that marketing investments produce tangible outcomes through reputable platforms like The Economic Times.
Indian consumer firms face margin squeeze despite strong quarterly sales
Indian FMCG companies are expected to report narrower September-quarter profit margins despite double-digit sales growth, as rising raw material costs outpace price hikes. Analysts forecast operating margin declines of 45-150 basis points across consumer staples firms, with Hindustan Unilever and Britannia facing sharper pressure. Investors will track commodity prices, rural demand, festive spending and further price increases for signs of recovery.
Mutual funds reshuffled their stock portfolios in September 2026, increasing exposure to select large-, mid-, and small-cap stocks while cutting holdings in others. Find out which stocks saw the biggest changes across market capitalization.
Sony Vizha to launch on October 19 with Tamil Idol, Celebrity MasterChef
Sony Pictures Networks India will launch its Tamil general entertainment channel Sony Vizha on October 19 at 8 p.m. The channel will feature reality shows, series, films, and live cricket focusing on Tamil culture. Notable programs include Tamil Idol and Celebrity MasterChef Tamil with A. R. Rahman and Samantha Ruth Prabhu as judges. Other shows will cover themes like friendship and real-life crime cases set in Tamil Nadu.
Tanishq CEO Arun Narayan bullish on festive demand, but watchful on rural trends
Tanishq CEO Arun Narayan expects a strong festive season despite elevated gold prices, with consumers increasingly exchanging old jewellery to fund new purchases. Over 50% of transactions at Tanishq stores now involve gold exchange, a trend that has gained momentum following Prime Minister Narendra Modis appeal to curb gold purchases.
India needs Rs 15 lakh crore to add 91 GW nuclear capacity by 2047: CEA chief
India needs to invest Rs 15 lakh crore to enhance its nuclear capacity to 91 GW by 2047. The Central Electricity Authority Chairman stated that nuclear energy is a stable electricity source. Currently, India has an installed capacity of 8.8 GW, which is projected to reach 22 GW by 2031. Increased private and foreign investment in the nuclear sector is also anticipated.
Paytm's Indian ownership rises to 56%; domestic institutions continue to raise stake
In a notable development, One 97 Communications Ltd., Paytm's parent company, observed a significant rise in domestic share ownership as of Q2 FY 2027. Indian investors now hold over 56% of the firm, which illustrates a positive trend towards local equity involvement. Furthermore, domestic institutional ownership has soared to 29.5%, reflecting heightened engagement from local institutional players. In contrast, foreign direct investment declined to 18.
10 equity mutual funds cross Rs 60,000 crore AUM; top 4 manage over Rs 1 lakh crore each
Around 10 equity mutual funds managed assets worth over Rs 60,000 crore each as of September 2026, with four crossing the Rs 1 lakh crore mark. Parag Parikh Flexi Cap Fund topped the list with an AUM of Rs 1.45 lakh crore.
Bank fails to process your request on time? Know 5 scenarios when you can claim 100 to 5,000 per day
How GIFT Nifty can help investors understand market trends before the opening bell
GIFT Nifty plays a pivotal role as a futures contract that encapsulates overnight global market shifts. It is essential for estimating the daily opening position of the Nifty 50. Investors analyze the discrepancy between the current GIFT Nifty and its previous close to decipher market trends. Though it offers a directional hint, it is not a guarantee of market behavior.
Canadian resident got notice for 83L STCG; he wins
Tata Power announces 15,000 crore Mumbai grid expansion plan to meet rising AI demand
Tata Power is implementing its 15,000 crore plan expand its transmission network in Mumbai and is intended to support the increasing energy requirements of hyperscalers and data centres. The company plans to enhance its existing 110 kV and 220 kV networks while developing new receiving stations. The company also aims to expand its green energy projects as well as its overall infrastructure capacity.
Gold futures in India fell nearly 0.25% on Wednesday, while silver futures declined 0.70%. Retail prices varied across major cities, with jewellers potentially adding taxes and making charges.
JioBlackRock Flexi Cap Fund made complete exits from 18 stocks, including Eternal and Ashok Leyland, in September 2026, while trimming stakes in RIL, HDFC Bank, and 32 others. Managed by Tanvi Kacheria and Sahil Chaudhary, the scheme added 19 new stocks with total AUM standing at Rs 3,175 crore.
Gold rate today: 24k vs 22k vs 20k vs 18k prices
India, a dynamic market growing rapidly, is a long-term commitment for Adyen
Indian businesses are going global, and international players are turning towards India. Adyen, with its global platform and local expertise, is helping navigate payments and regulatory requirements in India and outside. Terming India an exciting market , Adyen is recognising and fulfilling the need for a single infrastructure layer capable of connecting global systems to the local markets.
Indias gold chest gives imports a run for money
8th Pay Commission salary and pension hike: Pensioners body seeks 69,000 minimum pay, 34,470 pension
Sunil Bharti Mittal stated that he applied for satellite service approvals in India five years ago. His ground network has been ready for the last three years, waiting for final approvals. Mittal highlighted the importance of regulatory clearances for expanding connectivity beyond traditional mobile networks. Bharti Airtel is also investing in digital infrastructure, data centers, and sovereign cloud services.
Property owner inherits mothers land, converts it into freehold, DDA grants mutation, redevelops it, gets Rs 75 lakh from builder, pays no tax, gets tax notice, wins case in ITAT Delhi.
An Air India flight from Frankfurt to Delhi was diverted to Jaipur after receiving a bomb threat. The Boeing 787-9 aircraft made an emergency landing at Jaipur International Airport for safety checks. Airport officials alerted police to the emergency situation involving the flight. The pilot had activated a security signal indicating unlawful interference while in the Mumbai Flight Information Region.
NHAIs FASTag Annual Pass costs 3,075 and covers up to 200 crossings at participating national highway and expressway toll plazas. It is valid for one year or until crossings run out, whichever comes first, and is available for eligible private cars, jeeps and vans.
Bank of Baroda shares fell over 3% to Rs 230.40 on Wednesday following reports that NMC Healthcare founder BR Shetty filed a $15 billion lawsuit against the lender in the Bombay High Court alleging fraud. Bank of Baroda clarified to exchanges that it has not yet been served.
Nexedge Capital appoints former Avendus Wealth CEO Apurva Sahijwani as co-founder
Nexedge Capital has appointed Apurva Sahijwani, previously with Avendus Wealth Management, as co-founder to strengthen its leadership. It aims to utilise his experience for expanding its presence in India's wealth management sector. Nexedge Capital currently operates in 11 cities and advises more than 1,300 ultra-high-net-worth individuals and families.
How to invest when your income doesnt arrive every month
For freelancers and business owners, irregular cash flows can make monthly SIPs difficult to sustain. An annual investment target, fixed asset allocation and adequate liquidity can help.
Husband and wife both of them put their name on houses title deed, but wifes father paid for it and even he gave 5000 Saudi Rials to him but marriage broke; Kerala HC orders him to vacate the house
As retirement approaches, investors must prioritize sustainable income from their portfolios. Take, for example, a 59-year-old managing Rs 1.51 crore, seeking Rs 16,000 monthly via a systematic withdrawal plan. Experts suggest portfolio reallocation and asset diversification among fund houses. By structuring investments into three distinct categories based on cash flow, investors can better navigate withdrawals, reducing the risk associated with liquidating assets during market dips while ensuring dependable income.
Bank of Baroda to defend interests after UAE businessman Shetty files $15 bln suit
Bank of Baroda is contending with a $15 billion lawsuit filed by B.R. Shetty following NMC Health's collapse. Shetty alleges that bank officials facilitated fraudulent transactions and ignored anti-money laundering warnings. The bank is currently pursuing recovery proceedings against Shetty for significant outstanding dues. Bank of Baroda has stated that it has not been served with the lawsuit yet.
Indias retail inflation crossed 5% in September 2026, with projections pointing to a possible peak in November. As households prepare for Diwali shopping, what do the latest CPI figures reveal about festive expenses, and which purchases could put pressure on budgets?
'Small' pains: Inflation squeeze likely to choke FMCG volume growth again
India's fast-moving consumer goods sector is under pressure as inflation reshapes how consumers spend their money. Rather than splurging on high-end products, buyers are preferring smaller, budget-friendly options. Data suggests that inflation tends to shrink average FMCG pack sizes. Notably, urban areas are seeing a more significant shift in spending compared to rural regions. Price increases in multiple categories are likely on the horizon.
Union Cabinet likely to take up productivity-linked bonus for railway employees on Wednesday
The Union Cabinet is likely set to take up a proposal on productivity-linked bonus for railway employees. Non-gazetted railway employees currently receive Rs 17,951, calculated using a wage ceiling of Rs 7,000 for 78 days. The move comes amid demands to raise the ceiling and increase the annual bonus payout.
Best focused mutual funds to invest in October 2026
Focused mutual funds have a concentrated portfolio. That means that the fund manager will choose stocks based on his or her conviction and take a meaningful exposure in the stock. Such investments can pay off handsomely if the call goes right. However, if a few calls go wrong, the scheme will suffer a lot. This is the trouble with concentrated bets.
Tata Elxsi shares rallied up to 7% after the company reported 10% year-on-year profit growth and 15% revenue growth in the September quarter. Morgan Stanley, Motilal Oswal and JM Financial maintained cautious ratings, citing valuations, European automotive weakness and a gradual deal ramp-up.
Mumbai Airport defers shift of international flights to Navi Mumbai by 5 months
The planned shift of international operations from the airport in Mumbai to Navi Mumbai has been deferred to the summer schedule, pushing the transition back by five months, people familiar with the matter said.
Jay Shettys Think Like a Monk offers five ways to build a healthier relationship with money. Check out 5 lessons about wealth creation.
Online shopping, job and lottery scams in India 2026: 67% of victims recover no money, survey finds
Nearly 67% of Indian scam victims who lost money recovered nothing, while 33% of reported cases remain unresolved. From online shopping fraud to AI-enabled scams, here's what the findings reveal and what consumers need to know.
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Kolkata Rajdhani train introduces floral comforters
Lena Dunham to bring back 'Girls' for a 5-episode run on HBO 10 years after its finale
HBO will revive the show 'Girls' for a limited five-episode run starting production in 2027. Lena Dunham will return as the lead character Hannah, alongside the core cast members. The revival comes a decade after the original series concluded and gained recognition for its cultural impact. Judd Apatow is returning as executive producer, ensuring continuity in production.
Living abroad does not automatically make you a non-resident for Indian tax purposes. Residency depends on the number of days spent in India, income and other conditions. Know about the 182-day and 120-day tests, deemed residency, ITR exemptions and the transition to the Income Tax Act, 2025.
The CBDT has expanded its SAKSHAM NUDGE initiative to include tax professionals, sending nearly 12,000 reminders to those with lower-than-usual tax audit filings.
Should you invest in SIFs? Key risks and benefits explained
Specialised Investment Funds, or SIFs, have quickly become popular among investors in just one year. They offer flexibility and strategies beyond traditional mutual funds, which appeals to many investors. As of September 2026, the assets under management for SIFs reached Rs 38,224 crore. A notable trend is the interest in hybrid and multi-asset strategies catering to shifting market conditions.
States asked to expedite capex loans utilisation
The Department of Expenditure has urged states to expedite their use of interest-free loans for capital investment. With only a quarter of funds allocated utilized, swift action is necessary to meet spending targets. The central government released around 51,000 crore under the Scheme for Special Assistance to States for Capital Investment by October 1. The department is actively working with states to resolve delays and identify projects.
'Whisky shortage, cheaper imports to weigh on Amrut's sales through 2030'
Amrut Distilleries is facing an inventory shortage as whisky demand continues to exceed production capabilities. The company's managing director Rakshit Jagdale indicated sales may remain flat leading to 2030. Rising imports of cheaper Scotch are also impacting sales of domestic whisky brands, particularly newer blends. Amrut plans to introduce a more affordable single malt and expand its portfolio with blended malt whisky.
Hospitals, clinics may now have to display service rates prominently
Clear display of rates helps patients and their attendants understand the likely financial implications of treatment, make informed decisions and plan their healthcare spending, health secretary Punya Salila Srivastava said in a communication to state and UT health authorities.
NMC Healthcare founder BR Shetty files $15 billion lawsuit against Bank of Baroda
The suit, filed in the Bombay High Court, seeks $5 billion in direct damages for alleged fraud and negligence, $5 billion in consequential damages and $5 billion in compensation for reputational harm arising from various actions taken by the bank, including a lookout circular issued against him.
'Advertising spends may keep growing in high single digits'
The festive season is a major business driver for automobiles, electronics and gadgets, beauty and personal care, and home decor. India's annual advertising expenditure (adex) is estimated at Rs 1.5 lakh crore to Rs 2 lakh crore, with an ad-to-GDP ratio of 0.5%.
Bitter truth: Surge in sugar prices to push up festival budgets
Sweets and desserts are experiencing higher prices this festive season due to increasing sugar costs and rising demand. Sugar prices have surged significantly year-on-year, contributing to overall food inflation. The festive calendar is expected to drive further demand for sweets and confectionery items. Manufacturers may react by adjusting prices while trying to maintain consumer affordability. Concerns about production due to uneven rainfall could complicate future price trends.
More thermal capacity needed to meet power demand, says CEA chief
India's electricity demand has grown significantly this year, with peak demand reaching record levels in recent months. The Central Electricity Authority now estimates an increase in coal-fired power capacity requirements to 115 GW by FY32-FY34. Renewable energy growth is also expected to continue at more than 50 GW annually. Factors influencing demand include economic growth and climatic conditions like El Nio.
Jyotiraditya M. Scindia discussed significant banking developments at the North East Bankers Conclave 2.0 in Agartala. He outlined future targets including opening new bank branches and increasing ATM installations in unbanked areas. Collaborative efforts between banks and government were emphasized to enhance development in the Northeast region. The Chief Minister of Mizoram, Lalduhoma, highlighted the importance of banks in creating economic opportunities for citizens.
LIC to launch three insurance plans on 19 October: Benefits, features and eligibility explained
LIC will offer three new insurance plans from 19 October 2026. New Jeevan Dhara-II provides deferred annuity income, Health Shield offers fixed health benefits, and New Cancer Cover provides financial payouts for specified cancer diagnoses.
Partial shifting of international ops from Mumbai airport deferred till March 2027
Adani Airports has decided to delay the transition of international flights to Navi Mumbai airport until March 2027. This decision comes after discussions with airline representatives regarding the partial shifting plan. Previously, airlines were instructed to reduce international flights by 33 percent starting from October 2025. A working group will develop a plan for the redevelopment of Terminal 1 at Mumbai airport.
