📰 India Business Brief: Top Headlines for November 03, 2026

The Economic Times

• Sudarshan Venu Family Trusts Raise ₹825 Crore to Consolidate TVS Holdings Stake: Two family trusts associated with Sudarshan Venu raised ₹825 crore by pledging nearly 20% of TVS Holdings' shares to acquire the stake held by the extended family's TSF group, raising Sudarshan Venu’s holding to 73.35%.
• Budget 2027 Review: Customs Duty Relief on 118 Goods Examined: The Ministry of Finance has begun reviewing customs duty relief across 118 tariff lines ahead of the upcoming Union Budget, even as Finance Minister Nirmala Sitharaman reiterated that the Indian economy's core pillars display strong resilience with no underlying fragility.
• Indian Railways Augments Wagon Procurement by ₹3,925 Crore: The Ministry of Railways added 9,638 freight wagons to existing manufacturer contracts valued at approximately ₹3,925 crore to address rising industrial freight logistics demand.
• IRDAI Overhauls ESOP and Share Transfer Guidelines: The insurance regulator has implemented stricter norms governing Employee Stock Ownership Plans (ESOPs) and share transfers to ensure tighter corporate governance across domestic insurers.
• SEBI Unveils PRIM Route for Portfolio Management Services: The capital markets regulator has allowed Portfolio Management Service (PMS) providers to invest directly in mutual funds and Specialized Investment Funds (SIFs) subject to a ₹25 lakh minimum ticket size.

Business Standard

• Mainboard IPO Fund-Raising Hits Record ₹84,400 Crore in H1: India's primary markets achieved a historic milestone, with mainboard IPO mop-ups surging 30% year-on-year to ₹84,400 crore in the first half of the fiscal year, heavily driven by strong Q2 listings.
• Electric Two-Wheelers Buck Auto Slowdown: Electric vehicle (EV) registrations jumped 75% in October, defying broader headwinds in the passenger vehicle segment, which contracted by 14.6% during the festive period.
• Reliance Industries Rallies on Stellar Performance: Shares of Reliance Industries rallied sharply following robust quarterly earnings and an enhanced valuation of Jio Platforms, driving benchmark indices Sensex and Nifty upward.
• Mixed Corporate Earnings in FMCG: ITC reported an 18.7% decline in Q2 net profit due to higher cigarette taxation and operational cost pressures, contrasting with Marico's resilient 31% year-on-year net profit growth.
• Corning Expands Optical Manufacturing for AI Infrastructure: Global materials firm Corning announced plans to expand its optical connectivity manufacturing capacity in India to cater to surging global and domestic demand from AI-ready data centers.

Mint

• Coal India Subsidiary South Eastern Coalfields Files IPO Papers: South Eastern Coalfields has formally submitted draft red herring documents to initiate a public listing, marking another prominent public-sector divestment milestone.
• Finance Ministry Recognizes Investor Voices on Capital Market Taxation: Markets are closely tracking comments from the Finance Minister signaling that the government is evaluating market feedback concerning equity taxation structures ahead of policy revisions.
• Precious Metals Rebound as Crude Softens: Domestic gold and silver prices rebounded from recent multi-month lows on commodity exchanges as global crude oil prices cooled.
• Tech Mahindra Accelerates Post-Margin Transformation: IT services provider Tech Mahindra outlined aggressive client acquisition and growth strategies following recent operational margin expansions.
• Two-Wheeler EV Competitive Landscape Heats Up: Competition among leading domestic electric two-wheeler manufacturers—including Bajaj Auto, TVS Motor, Ather Energy, and Ola Electric—has intensified as players roll out aggressive year-end price cuts and expanded dealership footprints.