📰 India Business Brief: Top Headlines for August 05, 2026

Economic Times

• RBI MPC Meeting: Governor Sanjay Malhotra is widely expected to keep the repo rate unchanged at 5.25% today, shifting focus toward guidance on inflation and liquidity management.
• World Bank AI Report: The "World Development Report 2026" urges developing nations like India to embrace AI tools to accelerate growth in healthcare, education, and agriculture.
• Corporate Earnings: Bharti Airtel reported a 37% year-on-year surge in Q1 net profit to ₹8,167 crore, while BSE’s profit soared 62% to ₹874 crore driven by strong transaction volumes.
• Taxation Laws Amendment: The government has introduced a new bill in the Lok Sabha aimed at providing policy certainty and attracting more foreign capital through FII relief.
• Global Markets: Asian equities advanced this morning on news that Iran and Oman are nearing a deal to reopen the strategic Strait of Hormuz.

Business Standard

• ONGC Q1 Results: The state-run energy giant reported a massive 112% jump in net profit to ₹17,034 crore, with revenue increasing by 45.2% due to stable realization.
• EV Policy: The Society of Indian Automobile Manufacturers (SIAM) has requested an extension for EV bus and truck localization norms under PM E-DRIVE until April 2027, citing supply chain disruptions.
• Global Energy: Saudi Aramco’s Q2 net profit jumped 44% to $32.69 billion, even as the company flagged continued risks to global energy security due to West Asian tensions.
• IPO Activity: Ardee Industries successfully raised ₹128 crore from anchor investors ahead of its public issue, reflecting robust primary market appetite.
• Policy Shift: Former minister Jairam Ramesh noted that the current industrial landscape marks a "paradigm shift" similar to the 1991 liberalization, as India targets a $5-trillion economy by FY29.

Mint

• Apple India Milestone: Apple Inc. has officially crossed $10 billion in annual sales in India for the first time, bolstered by a widening retail network and surging demand for premium devices.
• Market Divergence: Indian benchmark indices witnessed unusual volatility on Tuesday; while the Sensex gained over 500 points, the Nifty 50 faced selling pressure before a late-hour recovery.
• Commodity Watch: Brent crude prices have slipped below $80 per barrel for the first time in three weeks as diplomatic talks regarding shipping routes in the Middle East progress.
• Maritime Safety: An Indian-flagged vessel sank off the coast of Yemen following a projectile attack; Union Minister Sarbananda Sonowal confirmed that all 13 Indian seafarers were rescued safely.
• New Listings: Shares of Manipal Health Enterprises are set to debut on the stock exchanges today following its billion-dollar IPO, with market participants expecting a positive listing pop.

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