The Economic Times

India has opened its insurance sector to 100% foreign ownership. This move aims to boost insurance coverage and attract global investment. Foreign investors can now own domestic insurance companies through the automatic route. This policy change aligns with recent amendments to insurance laws.

In a significant ruling, the Bombay High Court has reaffirmed that summonses issued under the CGST Act serve solely for the purpose of inquiries and recording statements, and do not authorize detention. A petitioner, who sought reparations for what they claimed was unlawful detainment, was turned down.

India anticipates finalizing an interim trade deal with the US by the end of March. Commerce Secretary Rajesh Agrawal confirmed the broad outlines are agreed upon. The pact aims to benefit India's labor-intensive sectors. This agreement is expected to boost Indian exports. Teams are actively working to convert the understanding into a legal document.

Financial Services Secretary M Nagaraju, while chairing a meeting, deliberated on the preparation of the roadmap for Financial Inclusion 2.0

Commerce Minister Piyush Goyal has called on Indian exporters to fully utilize new Free Trade Agreements with developed nations. These pacts aim to boost exports of goods and services by providing preferential market access. Exporters are encouraged to enhance quality and competitiveness. The agreements are expected to benefit farmers, artisans, and MSMEs, while protecting key sectors like agriculture and dairy.

Patanjali Foods witnessed a robust 60% surge in net profit to Rs 594 crore for the December quarter, with revenue climbing 17% to Rs 10,484 crore. This marks their highest Q3 revenue ever. Both FMCG and edible oil segments showed significant year-on-year growth, indicating strong market performance and positive future outlook.

Uttar Pradesh's Finance Minister Suresh Khanna unveiled a budget for 2026-27. The plan earmarks substantial funds for social welfare schemes, minority welfare, and divyangjan empowerment. Increased financial assistance is proposed for mass marriage schemes and scholarships. The budget also details provisions for minority students and enhanced pensions for divyangjan beneficiaries.

Finance Minister Nirmala Sitharaman presented the Union Budget with a total expenditure of Rs 53.47 lakh crore for the upcoming fiscal year. The government has allocated a record Rs 12.2 lakh crore for capital expenditure. Fiscal deficit is projected at 4.3 percent of GDP for FY27. States' share is estimated at Rs 25.44 lakh crore.

India's Finance Minister Nirmala Sitharaman unveiled a Rs 53.47 lakh crore budget for the upcoming fiscal year. The government plans the highest-ever capital expenditure at Rs 12.2 lakh crore. Fiscal deficit is projected at 4.3 percent of GDP. The minister also addressed fertiliser availability and refuted claims regarding trade agreements. She criticized opposition parties and the West Bengal government.

Indian benchmark indices ended mixed in a range-bound session, with Nifty extending gains for a fourth day while Sensex edged lower. Analysts see bullish momentum above key support levels, eyeing a breakout past 26,000. Global cues were mixed, with US optimism and subdued European trends.

Morgan Stanley and Goldman Sachs acquired shares in Ather Energy through block deals worth Rs 233 crore, as NIIF sold over 33.78 lakh shares. Several mutual funds also bought stakes. The smallcap multibagger stock remains up 123% from its IPO despite recent declines.

U.S. stocks neared a record high Wednesday after a jobs report showed unexpected improvement, adding 130,000 jobs last month. While overall job growth for the past year was revised downward, the figures offered reassurance. Treasury yields climbed as traders adjusted expectations for Federal Reserve interest rate cuts.

India is updating its inflation measurement. A new Consumer Price Index series starts tomorrow, changing the base year to 2024. This revision reflects modern India's spending habits. Food's weight decreases, while services gain importance. This change impacts monetary policy and household finances. The new index includes digital markets and rural housing costs.

Nifty ended flat but extended gains, with technical indicators signaling a bullish bias above key support. Analysts highlight Craftsman Automation and Laurus Labs as buy ideas, citing strong uptrend structure, base formation, improving momentum and potential upside on breakout.

U.S. job growth accelerated in January and the unemployment rate fell to 4.3%, signs of labor market stability that could give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation.

Oil prices gained more than 2% on Wednesday, buoyed by potential supply risks should tensions between the U.S. and Iran escalate, while draws of crude from key stockpiles suggested stronger demand.

Sebi on Wednesday came out with a new infrastructure planning and real-time performance monitoring framework for exchanges and clearing corporations operating in the commodity derivatives segment, mandating that critical IT systems maintain installed capacity of at least two times the projected peak load.

Vivriti Asset Management (VAM), a mid-market private credit-focused Alternative Investment Fund (AIF) management firm, on Wednesday said it aims to grow at 25-30 per cent year-on-year for the next five years, driven by the massive potential in the niche debt market.

The Reserve Bank of India is introducing new rules for banks. Banks must now refund customers fully if a product or service is mis-sold. They also need to compensate customers for any losses incurred. These guidelines aim to protect customers and ensure fair practices in banking. The central bank is seeking feedback before implementing these changes.

Benchmark indices ended largely flat, but select BSE small-cap stocks surged to fresh yearly highs. Mangalore Refinery, Force Motors, ZF Commercial Vehicle Control Systems and Craftsman Automation saw strong momentum.

LG Electronics Q3 Results: Consumer electronics major LG India on Wednesday reported a 61% year-on-year (YoY) decline in its consolidated net profit at Rs 89.7 crore in the third quarter. Revenue from operations too fell 6% YoY to Rs 4114 crore.

The increase signals continued momentum in tax compliance and economic activity during the ongoing fiscal.

India is set to update its economic data base years regularly. This move aims to reflect current economic shifts. The Consumer Price Index will see its first update in over a decade. New data collection includes online platforms and modern services. This will provide a more accurate picture of spending patterns for better user confidence.

State-run Bharat Heavy Electricals Limited (BHEL) on Wednesday informed the exchanges about its intent to exercise the oversubscription option after the offer for sale received strong response from non-retail investors.

Indian markets ended largely flat in a rangebound session. Eicher Motors, Apollo Hospitals, SBI and SJVN rallied on strong earnings, and BHEL declined after a government stake sale announcement.

Vodafone Idea is witnessing steady accumulation by domestic mutual funds and promoter Kumar Mangalam Birla, even as it reports continued losses. Improving revenue, margins and operational metrics signal gradual stabilisation, though profitability and valuations remain key concerns for investors.

BSE Index Services, an arm of the BSE, on Wednesday announced the launch of two new G-Sec indices, which can be used for running passive strategies such as ETFs (exchange traded funds) and Index Funds.

Finance Minister Nirmala Sitharaman highlighted the Budget's support for labour-intensive industries and biopharma. She also mentioned collaboration with states on textile parks and opportunities for startups. Meanwhile, Rahul Gandhi criticized the India-US trade deal. He warned that India's vast data is a strategic asset that could be compromised in a volatile world.

State Bank of India has surpassed TCS to become the fourth-largest listed firm by market capitalisation after a sharp rally driven by strong quarterly earnings. Robust profit growth, stable margins, improving asset quality and bullish brokerage views boosted investor sentiment.

The pickup in issuance suggests companies have stopped waiting for borrowing costs to decline and have accepted that yields are unlikely to soften materially in the near term. They are choosing to access the market despite the high rates, said Venkatakrishnan Srinivasan, founder and managing partner at Rockfort Fincap.

The Indian rupee weakened against the dollar, closing down 0.1% at 90.70 due to increased dollar bids from foreign banks. Despite a quiet trading session and mixed corporate interest, overseas demand for dollars pressured the currency. The rupee lagged behind other Asian currencies, which benefited from a broadly weaker dollar.

Apple growers in Jammu & Kashmir and Himachal Pradesh fear the proposed India-US trade deal could weaken price protection and trigger a surge in imports.

Britain has secured a free trade agreement with India, a rapidly growing economy. This deal positions the UK ahead of the European Union, which reportedly used Britain's agreement as a benchmark. The pact is expected to boost UK GDP and trade significantly. India will reduce tariffs on a large percentage of UK exports, offering immediate savings.

Indian corn and soybean prices dropped Wednesday. This follows a new trade deal allowing duty-free imports of U.S. soyoil and animal feed. Farmers fear cheaper supplies. Farm unions and opposition parties have called for nationwide protests. The agreement has already impacted prices, sparking anger among farmers. The government made the deal without farmer consultation.

India's complex fertiliser sector is set to add 4 MTPA capacity by fiscal 2029, boosting utilisation to 95% and curbing import dependency. Manufacturers will invest Rs 12,000-13,000 crore, largely funded by accruals, ensuring comfortable credit profiles. Improved backward integration to 60% will stabilize profitability.

U.S. stock futures traded subdued as investors awaited crucial jobs data, with expectations of an uptick in job growth despite a sluggish labor market. Corporate earnings also drew attention, with Cloudflare jumping on a strong forecast. Markets are closely watching for any surprises in labor and inflation data that could influence the Federal Reserve's rate cut decisions.

India's pledge to buy $500 billion in U.S. goods over five years faces skepticism from economists who warn of distorted commercial procurement and a reshaped trade balance. While U.S. tariffs on Indian goods are set to decrease, the significant import target raises concerns about feasibility and potential inefficiencies, potentially upsetting India's trade balance.

America sees India as a key partner for stronger economic ties. US Trade Representative Jamieson Greer highlighted India's role in diversifying global supply chains. American firms view India as a viable manufacturing alternative. This strategic shift aims for more resilient and secure economic models. India's growing industrial capacity makes it a crucial 'waystation' in this process.

Lenskart Solutions witnessed a remarkable surge in its net profit, climbing by 6,982% to Rs 131 crore in the December-ended quarter. This substantial growth was accompanied by a 38% increase in revenue from operations, reaching Rs 2,308 crore during the same period.

Benchmark indices Sensex and Nifty ended largely flat on Wednesday, with the 30-share Sensex snapping its three-day gaining streak, while Nifty managed to close marginally higher.

Arvind SmartSpaces Ltd saw its net profit drop by 42 percent in the December quarter. However, sales bookings for the period showed a significant rise. The company also announced leadership changes. Priyansh Kapoor is now MD and CEO. Kamal Singal will transition to a strategy and investments role, mentoring the team.

India, US Trade Deal Fact Sheet: Revisions to the US fact sheet on the India trade arrangement signal a shift from initial announcements to detailed negotiations. India has maintained firm stances on sensitive sectors like agriculture and digital trade, while the US adjusts its framing to manage expectations and keep engagement on track.

IndiQube Spaces Ltd. reported a consolidated net loss of Rs 17.06 crore for the December quarter, a rise from Rs 13.72 crore a year prior, driven by increased expenses. Despite this, the co-working firm saw its total income surge to Rs 411.09 crore from Rs 280.48 crore. IndiQube manages over 9.55 million sq ft across 17 cities.

A new bill has been introduced in the Lok Sabha. This aims to prevent future confusion. It concerns laws replaced by the Industrial Relations Code of 2020. The government seeks to ensure smooth continuity of these regulations. This move is to avoid any unwarranted complications down the line. The amendment clarifies the legal standing of the replaced acts.

Ashok Leyland reported a 4.5% year-on-year rise in Q3 net profit to Rs 796 crore despite a one-time Rs 308 crore charge. Revenue surged 22% to Rs 11,534 crore, with record third-quarter EBITDA, higher volumes across segments, market share gains and strong cash position.

Shares of major Indian textile companies fell up to 6% for a second straight day after Bangladesh signed a trade agreement with the U.S., offering lower tariffs and exemptions on select textiles. Experts suggest the impact on Indian exporters may be limited, though competitive pressures could rise, particularly in product-specific categories.

MSCIs February 2026 index review added seven smallcap stocks, including Premier Energies, NSDL, and Emcure Pharmaceuticals, to the MSCI Global Standard Indexes. The reshuffle may drive passive fund flows and impact short-term stock movements as global index-tracking funds adjust their portfolios across multiple sectors.

The Indian equity market is exhibiting a narrow leadership, with only a few stocks like M&M and State Bank of India showing standout performances and reaching new highs. This selective strength contrasts with broader indices struggling for traction, indicating a stock-specific environment rather than a market-wide uptrend.