📰 India Business Brief: Top Headlines for October 01, 2026

The Economic Times

• Hospital Stocks Slip After Supreme Court Scrutiny on Cancer Drug Markups: Healthcare and hospital equities came under pressure after the Supreme Court raised queries regarding steep markups and profit margins on life-saving oncology medicines.
• IPO Rush as 50+ Firms File DRHPs: Over 50 companies submitted their Draft Red Herring Prospectuses (DRHPs) to the Securities and Exchange Board of India (SEBI) ahead of the regulator's deadline, setting the stage for a busy primary market pipeline.
• Muted Q2 Outlook for Indian IT Sector: Analysts anticipate a subdued second-quarter earnings season for major IT exporters, citing AI deflationary trends and enterprise pricing pressures that continue to cap top-line revenue expansion.
• Nifty Tests Key 22,600 Support amid Heavy FPI Outflows: Benchmark indices remained under selling pressure following net foreign portfolio sales topping ₹10,148 crore, with market participants closely watching the 22,600 pivot.
• Amazon Now Quick-Commerce Push: Amazon expanded its ultra-fast delivery arm, Amazon Now, to 120 cities, doubling down on the fiercely contested quick-commerce space.

Mint

• Centre Slashes Windfall Tax on Diesel and ATF Exports: The government reduced the special additional excise duty (windfall tax) on exports of diesel and aviation turbine fuel (ATF), taking effect October 1.
• Decriminalisation in Draft Petroleum Bill 2026: The Ministry of Petroleum unveiled the draft Petroleum (Amendment) Bill, 2026, which proposes replacing criminal penalties for licence breaches with graded civil fines of up to ₹2.5 crore for first-time offences.
• Traders Call Off October 2 'No UPI Day' Protest: Major merchant and retail associations withdrew their planned strike against proposed digital payment surcharges following constructive consultations and assurances from the Finance Ministry.
• Fiscal Deficit Reaches ₹7.1 Trillion: Official data showed India's budgetary fiscal deficit widened to ₹7.1 lakh crore through August, accounting for 41.9% of the full-year target, driven by front-loaded capital expenditures and subsidies.
• Corporate Capital Moves: Jio Financial Services and Allianz Europe each injected ₹320.05 crore into their insurance joint venture, while NCC bagged infrastructure orders worth ₹500.22 crore.
• Meta Rolls Out Revised WhatsApp Business Charges: Meta’s revised per-message pricing model for WhatsApp Business API accounts in India came into effect on October 1, charging for customer service interactions.

Business Standard

• FPI Outflows Exceed ₹1 Trillion in H1FY27: Total foreign portfolio investor outflows crossed the ₹1-trillion mark during the first half of the financial year, with banking, financial services, oil & gas, and automotive sectors bearing the heaviest redemptions.
• Piyush Goyal Pushes for Accelerated US Corporate Investment: Commerce and Industry Minister Piyush Goyal reaffirmed India's commitment to expediting approvals and providing regulatory ease for US firms expanding operations into India.
• Novo Nordisk Eyes Childhood Obesity and GLP-1 Expansion: Danish pharmaceutical major Novo Nordisk announced plans for public-sector pilot initiatives in India addressing childhood obesity alongside widening local access to GLP-1 therapies.
• Manufacturing Employment Surges: Annual Survey of Industries (ASI) data released by the NSO revealed that registered manufacturing added 1.4 million jobs, pushing formal factory floor employment past the 20-million milestone.
• GIFT Nifty Signals Weak H2 Start: GIFT Nifty traded lower near 22,614 amid volatile global bond yields and crude pricing lingering just under the $100/bbl threshold.

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