BILKUL BAZAAR— The Daily News Wrap
Bilkul Bazaar
9 October 2026 | 9 PM, 8 October – 9 PM, 9 October
National Business News Highlights
1. GST Council Approves Major Compliance Reforms
The GST Council approved measures to simplify tax compliance, raise the prosecution threshold to ₹5 crore and expand input tax credit eligibility for employer-provided health and life insurance. The changes aim to reduce the compliance burden on businesses.
2. TCS Reports 15% Growth in Quarterly Net Profit
Tata Consultancy Services reported a consolidated net profit of approximately ₹13,884 crore for the September quarter. Its annualised AI services revenue reached $3.1 billion, highlighting the growing importance of artificial intelligence to its business.
3. Anup Bagchi Set to Become India’s Highest-Paid Bank CEO
HDFC Bank’s incoming managing director and CEO, Anup Bagchi, is set to receive a proposed target annual compensation package of ₹35.9 crore, placing him among India’s highest-paid banking executives.
4. IT Stocks Lead Recovery on Dalal Street
Indian IT shares rebounded, with the Nifty IT index gaining more than 2% during Friday’s trading session. TCS results and expectations that US immigration changes would have limited immediate operational impact supported investor sentiment.
5. RBI Expects Banking System’s Surplus Liquidity to Ease
Reserve Bank of India Governor Sanjay Malhotra indicated that surplus liquidity in the banking system is expected to drain during the current financial year. The development could influence lending conditions and short-term interest rates.
6. India Remains Confident of Achieving $1 Trillion Export Target
Commerce Minister Piyush Goyal expressed confidence that India could achieve its $1 trillion exports target for FY2026–27, citing domestic business capabilities, MSMEs and the benefits of free-trade agreements.
7. Centre Plans New Telecom Technology and Manufacturing Schemes
The government announced plans for Telecom Technology Development Fund 2.0 and a revised production-linked incentive scheme. The initiatives are intended to strengthen telecom research, innovation and domestic equipment manufacturing.
8. Satellite Communication Spectrum Pricing Nears Finalisation
The government said the framework for satellite communication spectrum pricing was nearing finalisation. The decision is an important step towards enabling licensed operators to launch services after meeting regulatory and security requirements.
9. IPO Pipeline Worth ₹50,000 Crore Expected Before Diwali
India’s primary market is preparing for a substantial fundraising pipeline ahead of Diwali. Nearly a dozen companies could collectively raise around ₹50,000 crore, with Jio Platforms and Avaada Electro among the anticipated major offerings.
10. Employers Gain Input Tax Credit Relief on Staff Insurance
New GST Council decisions allow input tax credit on group health and life insurance policies provided by employers to employees, subject to applicable conditions. The measure is expected to ease costs and improve tax efficiency for eligible businesses.
International Business News
1. Global Economic Growth Forecast Cut to 2.6%
The United Nations Conference on Trade and Development projected global economic growth of 2.6% in 2026, down from 2.9% in 2025. Higher energy prices and geopolitical tensions are weighing on the outlook, despite continued growth in global trade.
2. Oil Prices Ease as Markets Assess Middle East Risks
Global oil prices retreated after US President Donald Trump indicated there would be no military action against Iran before the November midterm elections. Brent crude traded around $103 per barrel, offering some relief to stock and bond markets.
3. EU and China Move Towards Agreement on Hybrid Vehicle Exports
The European Union and China advanced discussions on limiting Chinese hybrid vehicle exports to Europe. The negotiations also involve improving access to rare-earth exports, as both sides seek to manage trade tensions and protect domestic industries.
4. Airtel Money Begins Conditional Trading in London
Airtel Money began conditional trading on the London Stock Exchange in what was reported as one of the market’s biggest IPOs in five years. Its shares fell more than 5% during early trading, highlighting investor caution despite strong interest in the offering.
5. China Resumes Fuel Exports Amid Global Supply Concerns
China resumed fuel exports following its Golden Week holiday, adding some relief to international fuel supply concerns. The development came as energy markets remained sensitive to Middle East tensions and disruptions to global trade.
Quote of the Day
“The secret of getting ahead is getting started.”
— Mark Twain
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