📰 India Business Brief: Top Headlines for October 23, 2026

Economic Times

• Rupee Pressured as Crude Crosses $112: The Indian rupee faced fresh downward momentum against the US dollar as Brent crude prices surged above $112 per barrel amid heightened geopolitical risks in West Asia.
• Govt Plans Stake Sales in PSU Banks: The Union Government is preparing plans to trim its shareholding in four state-run banks to 75% to meet regulatory minimum public shareholding requirements.
• Foreign Outflows Hit Financials and FMCG: Foreign Portfolio Investors (FPIs) accelerated their retreat from Indian equities, with heavy net selling across financial and FMCG counters, whereas IT stocks proved to be the lone sector bucking the trend.
• Jio Platforms IPO Sees Strong Bids; OYO Scales Back Size: Jio Platforms' IPO recorded substantial demand on its second day of bidding, drawing over ₹1.2 lakh crore in commitments. Concurrently, OYO parent entity Prism reportedly scaled down its prospective IPO target to ₹3,350 crore.
• Samsung to Ramp Up Exports Under Incentive Scheme: Samsung has outlined plans to expand handset export shipments from India under the Centre's updated electronics manufacturing incentive initiatives.

Business Standard

• Cyber Security Audits Ordered Following Digital Incidents: The Centre is preparing widespread cybersecurity compliance audits across critical digital infrastructure providers to plug vulnerabilities and improve national threat resilience.
• Automakers Seek Delay on BS-VII Brake and Tyre Rules: Automotive industry representatives have approached the government seeking a deferral of BS-VII standards for brake dust and tyre emissions until 2035, even as EV supply chains scramble to meet festive demand.
• Industrial Investments in Focus in Odisha: Chief Minister Mohan Charan Majhi launched an aggressive investment push for chemical and petrochemical manufacturing at India Chem 2026, while Tata Steel commissioned ₹9,067 crore worth of facilities at its Kalinganagar facility.
• Railways Boosts Coal Freight by 22.5%: Indian Railways recorded a 22.5% rise in coal loading for October to prevent inventory shortages at power utilities during unexpected surges in electricity consumption.
• GST Portal Readies New Registrations: The Goods and Services Tax Network (GSTN) introduced dual e-invoicing categories for reverse-charge transactions and finalized systems to onboard small e-commerce sellers starting November 1.

Mint

• Domestic Indices Eye Opening Rebound via GIFT Nifty: GIFT Nifty traded higher near 22,800, pointing toward a possible reprieve for the Sensex and Nifty 50 after three consecutive sessions of declines caused by crude price spikes and FII liquidations.
• Adani Energy Solutions Posts 148% PAT Jump: Adani Energy Solutions announced a 148% year-on-year surge in consolidated net profit to ₹1,323 crore for the September quarter, buoyed by a 53% top-line expansion.
• Swiggy Narrows Losses, Revenue Surges 36%: Food delivery and quick-commerce company Swiggy posted a reduction in consolidated quarterly net losses to ₹922 crore, supported by robust order frequency on its Instamart vertical.
• OpenAI Lowers Valuation Ambitions to $1.25 Trillion: Ahead of anticipated private funding and IPO groundwork, OpenAI lowered its target valuation to $1.25 trillion from $1.4 trillion as investors scrutinize rising infrastructure expenditure across artificial intelligence models.
• Regulator Warns on Unauthorized Messaging Groups: SEBI issued refreshed warnings to retail investors regarding fraudulent trading advice and illicit pump-and-dump schemes circulating through invitation-only private social channels.

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