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

Business Standard

• Net GST Collections Surge 25.6% in October: India's net Goods and Services Tax (GST) revenue climbed to ₹2.03 trillion in October, recording the fastest growth rate in FY27, driven by robust festival consumption and compliance.
• October IPO Frenzy Raises ₹44,451 Crore: Mainboard public issues raised a total of ₹44,451 crore in October alone, with the massive public offering from Jio Platforms accounting for roughly 68% of the total proceeds.
• New Civil Aviation Rules to Replace 1937 Framework: The government notified comprehensive new aircraft rules set to replace the archaic 1937 aviation framework, scheduled to come into force starting January 1, 2027.
• Automakers Clock Record Festive Wholesales: Passenger vehicle dispatches to dealerships rose 12.4% year-on-year to 528,384 units in October, buoyed by strong demand during the festive season.
• Telcos Demand Higher Call Termination Charges: Domestic telecom operators have approached regulators seeking a hike in international call termination charges to ₹5 per minute to offset rising operational and network infrastructure costs.

The Economic Times

• KKR, Singtel, and Tata Group Plan Mega STT GDC India Sale: Major stakeholders in STT Global Data Centres India have initiated formal plans to divest their operations—comprising 34 data centres and 613 MW in capacity—to capitalise on unprecedented hyperscaler expansion and data centre demand.
• Reliance Outlines Multi-Pronged Expansion Strategy: Reliance Industries highlighted growth drivers across its core verticals, preparing for accelerated capital investments in Oil-to-Chemicals (O2C), retail store network expansions, and Jio digital offerings.
• Two-Wheeler Sales Maintain Growth Track: Royal Enfield reported a 7% year-on-year sales increase in October dispatches, matching broader two-wheeler momentum seen across festival promotions.
• Global Macro and US Midterm Cues Steer Equities: Market participants are assessing how the US midterm election outcome will influence global crude oil supplies, foreign institutional flows, and Indian bond yields, even as Brent crude moderated slightly.
• Binance Reopens Withdrawals Following Major Exploit: Cryptocurrency exchange Binance confirmed that it covered roughly 95% of stolen assets following an estimated $6.3 billion cyber incident, though platforms registered over $3.6 billion in subsequent customer outflows.

Mint

• GIFT Nifty Signals Bullish Open Above 23,200: Indian benchmark indices were poised for extended gains at the start of the week, with GIFT Nifty indicating a gap-up opening as technical indicators pointed to consolidating strength above the 23,000 threshold.
• Historical Data Favours Equities in November: Analysis of the last 25 years reveals that November and December have historically been the strongest months for the Nifty 50, delivering average gains of 2.5% and 2.6% respectively, with banking and IT historically outpacing defensives.
• Key Financial and Tax Rule Changes Effective November 1: Several regulatory updates took effect on November 1, including amended CGST rules for post-supply discounts and credit note tax reversals, an extension of the audit ITR deadline to November 21, and updated banking fee structures.
• Infosys Leads Active Corporate Actions Week: Technology giant Infosys heads into its ex-dividend date for an interim dividend of ₹26 per equity share, amidst a heavy week of corporate announcements that also include record dates for Hindustan Unilever and Coal India.