📰 India Business Brief: Top Headlines for October 15, 2026

The Economic Times

• CCEA Clears IDBI Bank Strategic Stake Sale: The Cabinet Committee on Economic Affairs (CCEA) has approved the strategic restructuring and stake sale of IDBI Bank in a transaction valued at ₹52,878 crore. Fairfax Financials has been selected as the qualified bidder with an accepted offer price of ₹81 per share, while the Government of India and Life Insurance Corporation (LIC) will retain a joint 34% stake.

• MRPL Q2 Net Profit Soars Nearly Threefold: Mangalore Refinery and Petrochemicals Ltd (MRPL) reported a sharp jump in standalone net profit to ₹1,881 crore for the second quarter, up from ₹639 crore in the corresponding quarter of the previous fiscal year, as operational revenues climbed 37.1%.

• Bajaj Consumer Care Delivers Strong Q2 Show: Bajaj Consumer Care posted a 67.1% year-on-year increase in net profit to ₹70.2 crore for the quarter ended September, buoyed by expanding EBITDA margins which rose to 24.7%.

• Hyundai Motor Outlines $15.5 Billion Roadmap: Hyundai Motor committed to investing $15.5 billion in India by 2032, expanding production infrastructure and technology capacity to reinforce its footprint in the domestic automotive space.

Mint

• Domestic Benchmarks Eye Cautious Start Amid Global Cues: Following Wednesday's decline where the Sensex dropped 251.89 points to close at 72,781.89 and the Nifty 50 slipped to 22,622.70, GIFT Nifty signaled a subdued, range-bound opening as investors track persistent crude oil firmness and wholesale inflation.

• High-Profile Earnings Lineup in Focus: Corporate earnings remain in the spotlight with heavyweights including Wipro, Nestle India, Jio Financial Services, Tech Mahindra, IRFC, and Polycab India scheduled to report their Q2 results during the day.

• HDB Financial Services Net Profit Jumps 34%: NBFC major HDB Financial Services delivered a 34% year-on-year increase in net profit to ₹780 crore for Q2, accompanied by the declaration of an interim dividend of ₹2 per share.

• Tata Technologies Reports Q2 Performance: Tata Technologies recorded a consolidated net profit of ₹171 crore on quarterly revenues of ₹1,699 crore, with EBIT margins holding at 12.9%.

Business Standard

• ₹9,000-Crore Mainboard IPO Wave Hits the Street: Four mainboard public issues—Zetwerk Manufacturing Business, Bonfiglioli Transmissions, Tonbo Imaging India, and Sahajanand Medical Technologies—opened for subscription, kickstarting a major fundraising window for institutional and retail investors.

• Centre Defers Proposed UPI Merchant Discount Rate: The government has postponed the rollout of the proposed 0.4% Merchant Discount Rate (MDR) on UPI merchant transactions exceeding ₹2,000, which was slated to take effect from October 15, keeping existing low-cost digital payment norms in place.

• Bank of Baroda to Contest $15 Billion Legal Claim: Bank of Baroda stated it will actively safeguard its institutional interests following a $15 billion lawsuit filed in the Bombay High Court by NMC Health founder BR Shetty, who is himself facing recovery actions by Indian lenders.

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