📰 India Business Brief: Top Headlines for July 28, 2026

Business Standard

• Zaggle Prepaid Ocean Services has secured a three-year agreement with Daimler India Commercial Vehicles (DICV) to provide spend management solutions and corporate credit cards for fleet partners.
• Tamilnad Mercantile Bank reported a significant 35% jump in net profit to ₹412 crore for the first quarter, driven by a 32% rise in net interest income.
• PN Gadgil Jewellers saw its consolidated net profit surge by 52% to ₹105.33 crore in Q1, reflecting strong consumer demand in the luxury segment.
• High-level diplomatic updates indicate that the US and India are further expanding strategic ties in the defense and civil nuclear sectors.
• Goodluck India’s defense subsidiary received a key Quality Assurance Certificate for the supply of 155 mm artillery shells to the Indian armed forces.

Economic Times

• Zebra Technologies CEO Bill Burns highlighted "frontline AI" as a massive opportunity for India, focusing on deploying artificial intelligence across factories and logistics networks.
• US memory chip giant Micron has selected L&T for the second phase of its $2.75 billion semiconductor assembly and test plant in Sanand, Gujarat.
• RBI Governor Sanjay Malhotra announced that a special foreign exchange mobilization drive has successfully attracted $32 billion, significantly bolstering India's forex reserves.
• Retail space leasing in the Delhi-NCR region witnessed a massive 78% jump, led primarily by fashion brands and restaurants expanding into premium malls.
• Indian Railways has commenced the deployment of the upgraded "Kavach 5" train protection system specifically for the Mumbai suburban network to enhance commuter safety.
• Bengaluru-based restaurants are scheduled to meet today to coordinate a collective pushback against rising commission fees from food delivery giant Swiggy.

Mint

• The NSE Nifty 50 reclaimed the 23,900 level, closing near 23,996, while the BSE Sensex advanced over 770 points following a de-escalation of tensions in West Asia.
• Market analysts noted that the recent correction found strong support at the 100-day EMA, suggesting that the broader long-term uptrend for Indian equities remains intact.
• InterGlobe Aviation (IndiGo) has appointed Kiran Thadimarri as the new CFO effective July 28, 2026, as former CFO Gaurav Negi transitions into an advisory role.
• Adani Energy Solutions successfully launched its Qualified Institutional Placement (QIP) with a floor price set at ₹1,698.15 per share.
• Top gainers in the recent session included Infosys, Bajaj Finance, and Eternal, while market volatility (India VIX) cooled by nearly 10%.
• Tata Motors' Sanand plant operations faced temporary disruptions due to heavy flooding in Gujarat, though the company expects a return to normalcy within days.

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