📰 India Business Brief: Top Headlines for June 29, 2026

Economic Times

• FPI Outflows Hit 6-Month Low: Foreign Portfolio Investors (FPIs) sold shares worth ₹31,823 crore in June 2026, the lowest monthly outflow since December 2025, as easing oil prices initially abated selling pressure.
• DII Buying Spree Continues: Domestic Institutional Investors (DIIs) purchased shares worth ₹76,156 crore in June, marking their 35th consecutive month of net buying.
• West Asia Tensions Cloud Sentiment: Recent military exchanges between US and Iranian forces in the Strait of Hormuz have renewed market volatility, with investors closely watching the impact on global energy supplies.
• Auto Sector in Focus: Markets are preparing for the release of monthly automobile sales figures scheduled for July 1, which will serve as a key indicator of domestic demand.

Business Standard

• Persistent Systems to Acquire Nagarro: In a major move for the Indian IT sector, Persistent Systems is set to acquire Nagarro SE for approximately $2.9 billion, aiming to create a dominant AI-led digital engineering group.
• Amazon’s $48 Billion Commitment: Amazon has announced a massive investment of $48 billion in India through 2030, specifically targeting AI, cloud infrastructure (AWS), and the expansion of its logistics network.
• Goldman Sachs Upgrades India’s GDP: Citing an improved macro outlook following recent diplomatic developments, Goldman Sachs raised India’s CY2026 real GDP growth forecast to 6.8%, up from its previous estimate of 6.5%.
• HDFC Bank Internal Probe: An independent legal review has found no evidence to substantiate allegations made by former chairman Atanu Chakraborty regarding the bank's management.
• Zerodha Enters Investment Banking: The discount brokerage giant has applied for SEBI registration to start an investment banking arm, looking to diversify its financial services portfolio.

Mint

• Oil Stocks Surge Amid Conflict: Shares of ONGC and Oil India gained over 1.6% as crude prices rose due to the escalating US-Iran conflict; conversely, Oil Marketing Companies (OMCs) like IOC and BPCL saw declines of over 2%.
• ITC’s FMCG Growth: ITC reported that its "new-age" FMCG brands have delivered 60% growth, signaling successful diversification beyond its traditional tobacco business.
• CSM Technologies IPO: The IPO for GovTech firm CSM Technologies entered its final day of bidding today, with the issue seeing moderate interest from retail and institutional investors.
• 8th Pay Commission Demands: Government employee unions have outlined five key demands ahead of scheduled talks in July, focusing on salary revisions and pension benefits.
• July Tax Deadlines: Taxpayers are reminded of six major deadlines in July 2026, including Income Tax Return (ITR) filings and TDS deposit requirements.

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