📰 India Business Brief: Top Headlines for October 02, 2026

The Economic Times

• Rupee Hits Two-Month Low Amid FPI Outflows and High US Yields: The Indian rupee fell 0.5% to breach the 96-per-dollar mark, touching 96.3150 against the US dollar in a two-month low as surging US Treasury yields and persistent foreign institutional selling put broad pressure on emerging market currencies.
• September Gross GST Collections Surge 14.7% to ₹2.04 Lakh Crore: Underpinned by steady economic activity and pre-festive inventory build-up, India's gross Goods and Services Tax (GST) collections reached ₹2.04 lakh crore in September.
• Automakers Log Strong Festive Dispatches in September: Domestic auto manufacturers reported high shipment numbers ahead of the festive season, with Maruti Suzuki India seeing total monthly sales rise 24% to 2.36 lakh units and Hero MotoCorp posting a 12% rise to 7.66 lakh units.
• Q1 FY27 FDI Equity Inflows Rise 6% to $19.8 Billion: Foreign direct investment into Indian equity grew 6% year-on-year in the first quarter of the fiscal year, led by investments from Japan, even as inflows from the United States contracted.
• Embraer and Mahindra Select Nagpur for C-390 Assembly Facility: Brazil’s Embraer and the Mahindra Group have zeroed in on Nagpur as the preferred hub for a prospective assembly line for the C-390 Millennium multi-mission aircraft in India.

Business Standard

• BSE and NSE Closed for Gandhi Jayanti: Trading across Indian equity, debt, and derivative segments was suspended on Friday in observance of Gandhi Jayanti following weeks of intense market volatility and broader index consolidation.
• HDFC Bank Names Anup Bagchi as MD and CEO: HDFC Bank received regulatory clearance from the Reserve Bank of India to appoint Anup Bagchi to the helm as Managing Director and Chief Executive Officer for a three-year term.
• TCS to Acquire Best Buy’s India Tech GCC: Tata Consultancy Services announced an agreement to acquire the Indian Global Capability Centre of US electronics retailer Best Buy to build out an AI-native delivery and transformation center.
• Indian Corporates Raise Record $25 Billion in H1 FY27: Defying recent secondary market volatility, Indian companies raised an unprecedented $25 billion via equity issuances in the first half of the fiscal year, buoyed by domestic institutional demand.
• Manufacturing PMI and UPI Rebound Strongly in September: Manufacturing PMI regained positive momentum in September, driven by higher output and employment generation, while UPI transactions expanded 23% year-on-year to hit 24.07 billion transactions.

Mint

• RBI Eases Rules for Mutual Funds and Insurers Buying Bank Shares: The Reserve Bank of India relaxed equity acquisition norms, allowing mutual funds, insurers, and pension funds to obtain a one-time approval for subsequent share purchases in commercial banks rather than seeking repeated permissions.
• Over Half of Nifty Stocks Enter Bear Territory: An ongoing market slide linked to elevated crude oil prices and global yield spikes has pushed more than 25 Nifty 50 constituents over 20% down from their recent highs.
• FPIs Offload ₹36,000 Crore from Equities in September: Foreign portfolio investors offloaded ₹36,000 crore worth of domestic equities over the course of September in a risk-off rotation toward dollar assets and elevated US bond yields.
• Goyal Seeks Progress on India-US Trade Talks Amid Sticking Points: Commerce Minister Piyush Goyal pushed for an expedited bilateral trade framework, though US counterparts have highlighted lingering sticking points over market access and tariffs.
• HDFC Bank ADRs Jump Over 5% Post-CEO Announcement: Following the announcement of Anup Bagchi’s regulatory approval as MD and CEO, HDFC Bank's American Depository Receipts posted a sharp surge on international bourses.

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