India's Bank Cash Surplus Shrinks as RBI Defends Rupee, Call Rate Hits 5.75%
Dollar sales and a new 20% cash deposit on rupee hedges have helped drain cash from Indian banks, and the RBI is now adding funds as the rupee slips again.
India
India Markets
- India Economy
India's Fiscal Deficit Hits 42.1% of FY27 Target in First Half as Fuel Tax Cut Bites
Excise receipts fell 22% after a cut in fuel duties and capital spending slowed in the second quarter, and ICRA expects a modest miss on the 4.3% goal.
- India Earnings
Maruti Suzuki Profit Falls 27% Despite Record Car Sales as Commodity Costs Bite
India's largest carmaker sold a record 696,654 vehicles in the September quarter, but costs tied to the West Asia conflict and investment losses cut earnings.
- India Markets
Foreign Investors Pull INR 348 Billion From Indian Stocks in October, but Nifty Gains 1.9%
Overseas funds sold for a second straight month and pushed 2026 outflows near INR 3 trillion, but local buyers carried the benchmarks higher and late-month foreign buying returned.
- India Markets
India's 10-Year Bond Yield Falls to 7.30%, Lowest Since Oct. 9, as Oil Retreats From $117
The benchmark yield has dropped about 14 basis points from its late-October peak, but traders say the U.S. midterm vote and crude prices will set the next move ahead of the RBI's December meeting.
- India Banks
Bank of Baroda Posts Record INR 65 Billion Profit as NSE Stake Sale Funds Extra Provisions
The state-run lender used gains from the stock exchange's listing to set aside INR 16 billion in extra provisions and raised its loan growth forecast, but its margin narrowed.
- India Earnings
Tata Steel Profit Rises 16% to INR 37 Billion as India Margins Offset Losses in Europe
India's second-largest steelmaker earned a 25% margin at home, while its U.K. arm stayed in the red, net debt climbed and auditors flagged its Dutch business.
- India Markets
Sensex Jumps 1,097 Points as Foreign Investors Pour INR 53,170 Crore Into Indian Stocks
Indian benchmarks surged after the Diwali holiday as overseas funds extended a buying spree, cheaper oil eased pressure on the rupee and second-quarter earnings beat forecasts.
- India Earnings
Larsen & Toubro Profit Rises 33% as Record Orders Lift Backlog to 8.5 Trillion Rupees
India's largest engineering group won 1.48 trillion rupees of new work in the September quarter, most of it overseas, but its operating margin narrowed to 8.7%.
- India IPOs
BLS Polymers Ends Debut 81% Above IPO Price as SFC Environmental Hits 29% Limit
A small cable-compound maker that drew bids 241 times its offer outran a larger wastewater engineer whose IPO was mostly a share sale by existing holders.
- India TradeAnalysis
India-US Trade Deal Enters Final Stage as Exports to America Jump 48% in September
New Delhi says most issues are settled and the first tranche is in legal drafting, while Section 301 tariffs and Russian oil remain open questions.
- India Energy
India's October Crude Imports on Track for Record, Kpler Estimates, as Angola Cargoes Jump
Russia still supplies about a third of India's oil, but refiners are buying more from Angola and Venezuela as Gulf and Black Sea routes stay risky.
- India Economy
India's October Inflation Seen Near 6% as Amul and Mother Dairy Raise Milk Prices
Forecasters see retail inflation hitting the top of the RBI's band in data due Thursday, as dairies lift prices by up to 6 rupees a liter and onions double.
- India Consumer
Kalyan Jewellers Profit Jumps 64% as Festive Demand Sends Shares to a Record High
The Indian jewellery retailer grew revenue 31% in the September quarter, though a one-time land sale gain flattered the bottom line.
- India IPOs
Hindustan Coca-Cola Files for India IPO, Coca-Cola to Sell 997.5 Million Shares in Bottler
The Coca-Cola Company's holding vehicle plans to cut its stake in its Indian bottling arm to about 45% through a pure share sale, after a record year for Indian listings.
- India TradeAnalysis
India-EU Trade Pact Heads to December Signing as FTAs Could Cover 74.5% of Exports
Customs talks in Brussels clear the way for a mid-December ceremony, while commerce ministry data show how far India's deal pipeline could reach.
- India Earnings
Tata Power Profit Jumps 49% to a Record as Revenue Climbs 26% and Margins Narrow
The Tata group utility also approved a INR 118.7 billion pumped storage project in Maharashtra, though higher fuel costs squeezed its operating margin.
- India Tech
MakeMyTrip Wins SEBI Approval for India Unit IPO as $2.7 Billion Bookings Quarter Lifts Case
The Nasdaq-listed travel group will sell shares in its Indian arm through an offer for sale but keep control, as a domestic listing wave draws in consumer internet companies.
- India Markets
Indian Rupee Hits 7-Month High of 93.69 per Dollar as Foreign Buying Tops $6 Billion
The currency outpaced most Asian peers on Wednesday even as a firmer dollar pushed India's 10-year bond yield up 6 basis points to 7.21% ahead of inflation data.
- India Earnings
MRF Profit Falls 28% and Cochin Shipyard Halves as Costs Squeeze Indian Manufacturers
Rubber prices hit tyre maker MRF, while a weak shipbuilding margin sent Cochin Shipyard shares down 8% on a rising market.
- India Capital Markets
Bajaj Finance Launches INR 117 Billion Share Sale at 5% Discount as Foreign Funds Return
India's largest nonbank lender is tapping institutions for about $1.25 billion a day after its parent bought INR 58 billion of warrants, with foreign buying of Indian stocks at a six-year high.
- India Economy
India's Net Direct Tax Collections Rise 11.8% to INR 14.42 Trillion as Refunds Jump 26%
Corporate tax and a 52% surge in securities transaction tax carried receipts through Nov. 10, while refunds to individuals and firms climbed 54% and slowed personal tax growth to 5.3%.
- India Earnings
Hindustan Copper Profit Nearly Triples to INR 5.2 Billion; GRSE, MIDHANI Gain
Three state-run Indian companies reported higher September-quarter earnings on Wednesday, led by the copper miner, whose revenue rose 64% while costs barely moved.
- India Startups
Rentomojo Shares Hit Record After First Post-IPO Results Show 53% Revenue Growth
The Bengaluru furniture rental startup's net profit fell 63% on a tax swing, but investors bid the stock to INR 650, about 60% above its September issue price.
- India
India's Core Sector Output Grows 7.9% in September, Fastest Pace in the New Series
Coal, power and refinery output led the gain, while HSBC's flash survey shows factory export orders rising at the fastest pace since June 2025.
- India
India GST Collections Jump 22.9% to 2.31 Lakh Crore Rupees in October as Import Tax Soars
Domestic revenue rose 15.8% and net receipts grew 25.6%, while HSBC's final factory survey showed manufacturing growth cooling to 54.7.
- IndiaAnalysis
Apple Sets India Revenue Record as Its Indian iPhone Suppliers Still Lean on Imports
Tata Electronics' exports rose 29% to 99,128 crore rupees last fiscal year, but its three units spent even more abroad, filings show.
- India
India Sets 15-Day Deadline for Complaints Under Its 125-Day Rural Jobs Guarantee
New rules for the program that replaced MGNREGA put states in charge of a digital complaints system, but drop penalties for officials that appeared in the May draft.
- India
India's Big Two-Wheeler Makers Sell 2 Million Units in October as TVS Jumps 29%
Hero, TVS, Bajaj and Royal Enfield's parent shipped 18% more two-wheelers than a year earlier, and electric scooter registrations hit a record before Diwali.
- India
RBI's $239 Billion Forward Dollar Book Will Cap the Rupee's Rally, IDFC First Bank Says
The rupee has recovered almost 3% since the central bank's October rate increase, but maturing swaps will force the RBI to soak up dollars as inflows return.
