📰 India Business Brief: Top Headlines for March 04, 2026

Business Standard

• The Ministry of Defence has finalized deals worth ₹5,083 crore with HAL and Russia to acquire Advanced Light Helicopters and Shtil missiles for the Navy and Coast Guard.
• Wipro is reportedly set to lose a significant $500-million contract from Estee Lauder to Accenture, marking a major shift in the IT services landscape.
• The Indian government has announced plans to make carbon trading compliance mandatory for the steel sector to align with global sustainability goals.
• Irdai has proposed a transition to Ind AS accounting for the insurance sector starting April 2026, including a phase for parallel reporting.
• Apple has officially launched its latest MacBook Air and Pro models, powered by the new M5, M5 Pro, and M5 Max silicon chips.

Economic Times

• War risk premiums for freight carriers in West Asia have surged, significantly increasing shipping costs for Indian oil firms and the Shipping Corporation of India.
• Sedemac Mechatronics is scheduled to launch its ₹1,087-crore Initial Public Offering (IPO) today, with late-stage investors eyeing gains of up to 3.8X.
• The Reserve Bank of India (RBI) confirmed that 98.44% of the withdrawn ₹2,000 currency notes have been returned to the banking system.
• NPCI’s BHIM platform is set to roll out biometric-based UPI payments within the next 10 days to bolster transaction security.
• Russia remains the top crude oil supplier to India, though the ongoing Iran-Israel conflict is forcing Indian refiners to monitor alternative supply routes closely.

Mint

• A comparison of major Indian lenders reveals that fixed deposit (FD) rates have reached up to 7.5% for March 2026, with private banks leading the interest rate offerings.
• Analysts report that the 2026 US market rally is entering a "selective growth" phase, with capital shifting toward companies with high earnings quality and pricing power.
• Global energy flows through the Strait of Hormuz remain under threat, though US assurances of escorting tankers have slightly pared the recent spike in Brent crude prices.
• GIFT Nifty has signaled a potential 500-point decline for the Indian markets upon reopening, reflecting the sharp downturn in Asian equities due to geopolitical tensions.

TAGS: Headlines, Business News, Economic Times, Business Standard, Mint, Top News

Tags: Headlines Business News Economic Times Business Standard Mint Top News