Markets

Larsen & Toubro’s Chief Financial Officer R Shankar Raman expects government capital expenditure to rise by around 10 percent in the Union Budget for FY27, underlining the continued policy focus on infrastructure-led growth.No Crowding Out Concerns Despite High Public Spending Addressing concerns around weak private sector capital expenditure, Raman said he does not see a risk of public spending crowding out private investment. According to him, ample liquidity in the financial system should support both government and private sector investments simultaneously.He reiterated that infrastructure development remains central to India’s long-term growth ambitions, especially as the country works towards becoming a developed economy by...

Entry Luxury Segment Sees Sharper Shift Toward ICE Vehicles Electric vehicle penetration in India’s luxury car segment has declined by nearly 3 percentage points in the GST 2.0 era, as internal combustion engine models now offer a more favourable total cost of ownership. Industry executives note that while the trend is visible across segments, the impact is most pronounced in the entry luxury category, where the price gap between EVs and ICE vehicles has widened under the revised tax structure.According to industry players, EV penetration across both mass market and luxury segments fell by around 2 to 3 percentage points during October and November 2025. The shift is largely attributed to improved cost economics for ICE vehicles...

Imports Rise Sharply in November India’s coal imports rose sharply in November, increasing 28.1 percent year on year to 25.07 million tonnes, compared with 19.57 million tonnes in the same month last year. The data reflects a notable jump in inbound shipments during the month.Import Mix: Coking and Non-Coking Coal Non-coking coal imports stood at 14.28 million tonnes in November, higher than 12.32 million tonnes imported in the corresponding month of the previous fiscal year. Coking coal imports increased to 6.51 million tonnes, up from 4.25 million tonnes recorded in the same month last year.April to November Imports Edge Higher During the April to November period of the current financial year, coal imports rose to 186.16 million...

FPIs Pull Out ₹7,608 Crore in First Two Trading Sessions of January Foreign portfolio investors have started 2026 on a cautious footing, extending the selling trend seen last year. In the first two trading sessions of January, FPIs withdrew ₹7,608 crore, or USD 846 million, from Indian equities.The early-year outflow follows a sharp withdrawal of ₹1.66 lakh crore, or USD 18.9 billion, recorded during 2025. The heavy selling last year was linked to volatile currency movements, global trade-related uncertainties, concerns over potential US tariffs, and elevated market valuations.Rupee Depreciation Adds to Market Pressure Sustained selling by foreign investors played a significant role in the nearly 5 percent depreciation of the Indian...

Bengaluru, January 4, 2026: Ujjivan Small Finance Bank Limited (NSE: UJJIVANSFB, BSE: 542904) reported steady business momentum in the third quarter of FY26, marked by strong growth in deposits, continued expansion in the loan book, healthy disbursement activity, and improving asset quality. Deposits Growth Remains Robust The bank’s total deposits stood at ₹42,219 crore as of December 31, 2025, registering a 22.2% year-on-year growth compared with ₹34,494 crore a year ago. On a sequential basis, deposits increased 7.5% quarter-on-quarter from ₹39,211 crore. CASA deposits rose sharply to ₹11,533 crore, up 33.1% YoY, while growing 7.0% QoQ. The CASA ratio improved to 27.3%, reflecting a stronger liability mix. The credit-deposit ratio...

Kolkata, January 4, 2026 – Bandhan Bank Limited (BSE: 541153 | NSE: BANDHANBNK) reported steady business growth for the quarter ended December 31, 2025, led by a healthy expansion in advances and a continued shift toward retail deposits, even as overall deposit levels moderated sequentially. Key Business Metrics (₹ crore)Particulars Dec 31, 2024 Sep 30, 2025 Dec 31, 2025 YoY (%) QoQ (%)Loans & Advances (On-book + PTC) 1,32,019 1,40,041 1,45,227 10.0 3.7Total Deposits 1,41,002 1,58,075 1,56,723 11.1 -0.9CASA Deposits 44,735 44,211 42,730 -4.5 -3.3Retail Term Deposits 52,063 67,916 70,690 35.8 4.1...

Mumbai, January 4, 2026: Bank of Baroda (BSE: 532134 | NSE: BANKBARODA) on Sunday reported steady business expansion for the quarter ended December 31, 2025, with global business rising 12.22% year-on-year to ₹28.91 trillion, supported by healthy growth in advances and deposits across domestic and international operations. Q3FY26 Business Snapshot As per the bank’s provisional performance update, global advances grew at a faster pace than deposits, reflecting continued credit momentum during the December quarter.ParticularsDec 31, 2024 (Unaudited)Mar 31, 2025 (Audited)Dec 31, 2025 (Provisional)YoY GrowthGlobal Business₹25.76 trillion₹27.02 trillion₹28.91 trillion12.22%Global Deposits₹14.03 trillion₹14.72 trillion₹15.47...

Mumbai, January 3, 2026: IDBI Bank Limited (BSE: 500116 | NSE: IDBI) reported steady growth in its core business metrics for the quarter ended December 31, 2025, with total business increasing 12% year-on-year to ₹5,46,634 crore, driven by higher deposits and advances, as per the bank’s provisional operational update filed with stock exchanges. Key Business Performance (₹ crore)ParticularsDec 31, 2024 (Unaudited)Sep 30, 2025 (Unaudited)Dec 31, 2025 (Provisional)YoY GrowthTotal Business4,89,2455,33,7305,46,63412%Total Deposits2,82,4393,03,5103,07,8289%CASA Deposits1,30,8991,39,0361,35,6304%Net Advances2,06,8072,30,2202,38,80615%Operational Highlights During the third quarter of FY26, net advances stood at ₹2,38,806...

Noida, January 3, 2026: IKIO Technologies Limited (BSE: 543923 | NSE: IKIO) has announced that its wholly owned subsidiary, IKIO Solutions Private Limited, has acquired an 88 percent equity stake in Gravus Tech Private Limited, reinforcing the group’s focus on strengthening its marketing and distribution framework. The acquisition was completed through a share purchase agreement executed on January 2, 2026, following which Gravus Tech has become a subsidiary of IKIO Solutions Private Limited. Transaction Structure and Consideration The acquisition was carried out through a cash transaction, with IKIO Solutions purchasing 8,800 equity shares of Gravus Tech at a face value of ₹10 per share. Key Deal DetailsParticularsDetails...

Mumbai, January 3, 2026 – IIFL Finance Limited (BSE: 532636 | NSE: IIFL) has received a penalty order amounting to ₹15.05 lakh from the GST authorities in Delhi in relation to an alleged tax matter for FY22.The order pertains to alleged non-payment of tax on exempt supplies for the period April 2021 to March 2022. The company received the order on January 2, 2026, and has stated that it intends to file an appeal with the relevant appellate authority within the stipulated timeframe.IIFL Finance has clarified that the penalty does not have any material impact on its financial position, operations, or other business activities. The company continues to operate normally while it pursues appropriate legal remedies against the order...

Manufacturing Growth Loses Momentum at Year-End India’s manufacturing sector recorded its weakest improvement in nearly two years in December, reflecting softer growth in new orders, restrained input purchases, and limited job creation. The slowdown marked a loss of momentum toward the end of the calendar year, even as overall activity remained in expansion territory.The seasonally adjusted HSBC India Manufacturing PMI declined to 55 in December from 56.6 in November. In PMI terms, a reading above 50 indicates expansion, while a score below 50 signals contraction.Production and New Orders Moderate December saw a broad-based easing across several indicators tracked by the survey. Production growth slipped to a 38-month low, alongside...

Precious Metals Open 2026 on a Strong Note Gold and silver futures traded higher on Friday, supported by firm global cues and renewed safe-haven buying as investors positioned themselves for the possibility of lower US interest rates in the coming period.Gold Futures Gain on MCX On the Multi Commodity Exchange, gold futures for February delivery advanced by Rs 948, or 0.7 percent, to Rs 1,36,752 per 10 grams. Trading activity remained healthy, with a business turnover of 15,639 lots during the session.The yellow metal had previously settled at Rs 1,35,804 per 10 grams on Thursday, registering a gain of Rs 357, or 0.3 percent, from Wednesday’s close of Rs 1,35,447 per 10 grams.The commodities exchange operated only during the day...

The Federation of All India Farmer Associations has cautioned that the government’s decision to impose additional excise duty on tobacco products could significantly hurt farmer incomes and intensify smuggling in a market already under pressure from illicit trade.The finance ministry last month notified revised excise duties ranging from Rs 2,050 to Rs 8,500 per 1,000 cigarette sticks, based on length. The new rates are set to take effect from February 1 under the Chewing Tobacco, Jarda Scented Tobacco and Gutkha Packing Machines Capacity Determination and Collection of Duty Rules, 2026.Federation of All India Farmer Associations said the move contradicts earlier assurances of revenue neutral tax reform. The association represents...

Chandigarh, January 2, 2026 – Nectar Lifesciences Limited (NECLIFE) saw a sharp surge in participation in its ongoing share buyback, with the issue reaching 0.95 times subscription as of 9:20 a.m. on January 2, 2026, bringing it close to full subscription midway through the offer period. The company is undertaking a fixed-price buyback of up to 3 crore equity shares at an offer price of ₹27 per share, with the offer window running from December 31, 2025 to January 6, 2026. Buyback SnapshotParticularsDetailsCompany NameNectar Lifesciences LimitedSymbolNECLIFESeriesBBOffer TypeBuybackIssue TypeFixed PriceOffer Price₹27 per equity shareFace Value₹1Issue SizeUp to 3,00,00,000 equity sharesOffer PeriodDecember...

Jet Fuel Prices Reduced After Three Months of Increases Prices of aviation turbine fuel (ATF), commonly known as jet fuel, were reduced by 7.3 percent on Thursday, offering relief to airlines after three consecutive monthly hikes. The cut was implemented as part of the routine monthly price revision aligned with global fuel benchmarks.In Delhi, ATF prices were lowered by Rs 7,353.75 per kilolitre to Rs 92,323.02 per kilolitre. The reduction follows a series of increases, including a 5.4 percent hike on December 1, a near 1 percent rise in November, and a 3.3 percent increase in October.The latest revision effectively offsets more than two thirds of the cumulative price increase since October 1.Relief for Airlines as Fuel Costs...

Retail Participation and SIP Inflows Drive Record Growth India’s mutual fund industry extended its strong expansion through 2025, adding around Rs 14 lakh crore to its asset base and taking total assets under management to a record Rs 81 lakh crore by the end of November. The growth was led by sustained retail participation and consistently strong systematic investment plan inflows.The industry recorded net inflows of about Rs 7 lakh crore during the year, alongside an increase of 3.36 crore investors. SIP contributions alone accounted for nearly Rs 3 lakh crore, reinforcing their role as the primary driver of long-term inflows.AUM Rises 21 Percent Year-on-Year Assets under management grew 21 percent from Rs 67 lakh crore at the end...

Benchmark Indices Extend Gains Equity benchmark indices were trading higher in early trade on Wednesday, supported by sustained buying from domestic institutional investors.At around mid-morning trade, the 30-share BSE Sensex was up 206.02 points, or 0.24 percent, at 84,881.10. The 50-share NSE Nifty was trading at 26,030.25, up 91.40 points, or 0.35 percent.Sensex Stocks in Focus Among Sensex constituents, Tata Steel, Bharat Electronics, Titan, Axis Bank, Adani Ports, and Hindustan Unilever were trading higher in early deals.Meanwhile, Bajaj Finserv, Tata Consultancy Services, Mahindra and Mahindra, and Infosys were among the stocks trading lower.Global Market Cues Remain Weak Asian equity markets were largely under pressure...

Foreign Fund Outflows and Weak Equity Cues Pressure Rupee The Indian rupee weakened by 15 paise to 89.90 against the US dollar in early trade on Wednesday, tracking continued foreign fund outflows and a subdued opening in domestic equity markets.At the interbank foreign exchange market, the rupee opened at 89.89 against the dollar and slipped further to 89.90, compared with its previous close of 89.75. The local currency had ended the previous session higher by 23 paise.Foreign portfolio investors have continued to reduce exposure to Indian equities over the past few months, which has remained a persistent drag on the rupee. Equity outflows have added to pressure from importer demand, while exporters have remained cautious in their...

Focus on Unmanned Systems, Guided Weapons and Future Warfare Capabilities The Adani Group plans to invest Rs 1.8 lakh crore next year in defence manufacturing, with a strong focus on unmanned and autonomous systems, advanced guided weapons, and next-generation military technologies. The investment is aligned with the group’s strategy to strengthen India’s future warfare capabilities through indigenous and scalable solutions.Rapid Transition from Planning to Deployment in 2025 In 2025, Adani Defence & Aerospace moved from extended planning cycles to rapid deployment, with some of its military hardware seeing operational use during Operation Sindoor. This marked a shift toward faster execution and readiness across multiple defence...

Record Equity Outflows Mark 2025 Foreign portfolio investors exited Indian equity markets in 2025 at an unprecedented scale, withdrawing a record Rs 1.6 lakh crore, equivalent to about USD 18 billion. The sharp outflows were driven by volatile currency movements, global trade tensions including concerns over potential US tariffs, and elevated market valuations that weakened risk appetite.Rising US bond yields, a stronger dollar, and persistent geopolitical uncertainties also prompted global capital to shift towards developed markets, moving away from emerging economies such as India.Despite the severity of the sell-off, market participants expect the trend to reverse in 2026 as global and domestic conditions improve.Global and...