📰 India Business Brief: Top Headlines for May 18, 2026

Economic Times

• Crude Oil Surges Past $110: Global oil prices have spiked to a two-week high following reports of a drone attack on a UAE nuclear power plant and stalled peace talks between the US and Iran.
• Vodafone Idea’s Record Profit: The telecom operator reported a massive net profit of ₹51,970 crore for Q4 FY26, primarily driven by a significant one-time accounting gain.
• Hero MotoCorp Capex Plan: Two-wheeler leader Hero MotoCorp has earmarked ₹1,500 crore for FY27 to double its scooter production capacity and build a global parts center in South India.
• PM Modi’s Norway Visit: Prime Minister Narendra Modi arrives in Oslo today for the first bilateral visit by an Indian PM to Norway in 43 years, with trade and energy supplies topping the agenda.
• PFC-REC Merger Progress: The board of Power Finance Corp (PFC) has approved seeking formal presidential approval for its proposed merger with REC, moving the transaction closer to completion.
• Jio Financial Block Deal: Goldman Sachs reportedly sold over 26.75 lakh shares of Jio Financial Services worth ₹62 crore in a recent block deal.

Business Standard

• FPI Outflows Intensify: Foreign Portfolio Investors (FPIs) have pulled out ₹27,000 crore from Indian markets so far in May, bringing total outflows for 2026 to a staggering ₹2.2 trillion.
• Prudential’s Major Acquisition: Prudential is set to acquire a 75% stake in Bharti Life Insurance for ₹3,500 crore, marking a significant consolidation in the private insurance space.
• Muthoot Fincorp IPO: The board of Muthoot Fincorp has approved a stock split and plans to launch a ₹4,000-crore Initial Public Offering (IPO) to fund its expansion.
• CNG Price Hike: Indraprastha Gas (IGL) has increased CNG prices in Delhi-NCR by ₹1 per kg, the second such hike in just two days, citing rising input costs.
• State Capex Utilization: Data shows that Indian states utilized only 77% of their capital expenditure outlay in FY26, despite the Central government providing higher budgetary allocations.
• Rupee Outlook: Market experts suggest that while the rupee remains under pressure, it is unlikely to hit the 100-per-dollar mark in the next six months.

Mint

• Q4 Earnings Season Peaks: Over 100 companies, including Indian Oil Corporation, Ola Electric, JSW Cement, and Astral Limited, are scheduled to release their fourth-quarter financial results today.
• Indian Oil Preview: Analysts estimate that Indian Oil’s adjusted EBITDA could decline by 22% quarter-on-quarter due to marketing losses and higher crude oil costs.
• Bearish Market Start: The Gift Nifty is trading nearly 175 points below Friday's close, signaling a gap-down opening for Dalal Street amid weak global cues and geopolitical uncertainty.
• Trump’s Warning to Iran: US President Donald Trump has issued a fresh warning to Tehran to “move fast” on negotiations, further heightening supply chain concerns in the Strait of Hormuz.
• Stock Recommendations: Technical analysts have recommended "Buy" ratings on Astrazeneca Pharma (Target: ₹8650), Suzlon Energy (Target: ₹57), and Prism Johnson (Target: ₹133) for today's trade.
• Hybrid MF Popularity: Hybrid Mutual Funds attracted ₹1.55 trillion in FY26, as investors sought diversified portfolios amid heightened equity market volatility.

TAGS: Headlines, Business News, Economic Times, Business Standard, Mint, Top News

Tags: Headlines Business News Economic Times Business Standard Mint Top News