India Financial News

Subscribe to enjoy similar stories.BENGALURU: Small Indian IT services firms are increasingly diverging in performance, as weak deal momentum and sharper competition reshape growth patterns across the sub-$1 billion revenue cohort.Within the segment, revenue growth slowed in fiscal year 2026 (FY26) compared with the previous year, underscoring a widening gap between outperformers and laggards even as one company entered the $100 million revenue club.Save for Sasken Technologies Ltd, which doubled its revenue last fiscal year on the back of its largest acquisition, Birlasoft Ltd and Cyient DET reported their second straight year of revenue decline. Mastek Ltd and Zensar Technologies Ltd grew at 3.1% each in FY26, slower than the 10.9% and 5.4% growth, respectively, in the previous year.The divergence reflects intensifying competition among smaller IT firms as they defend market share against larger peers, while also adjusting to rapid artificial intelligence (AI)-driven shifts in demand and client priorities.At the same time, the ranking within the segment is shifting.

Subscribe to enjoy similar stories.In a world beset by uncertainty, a 14% plus year-on-year growth in bank credit during December 2025 to February 2026 is reason for cheer. To be sure, part of this reflects a normalization of the credit cycle which saw brief disruption in mid-2025 triggered by US President Donald Trump’s tariff announcements.

Subscribe to enjoy similar stories.Problem-solving captured Sanjay Sudhakaran’s imagination during his student years. It’s what drove him towards pursuing a degree in mechanical engineering from the University of Mumbai, where he could use logic and creativity to build something worthwhile. An important learning that has stayed with him from those days is the importance of perseverance.“Projects rarely worked on the first attempt.

Subscribe to enjoy similar stories.The government is exploring an initial public offering for the country's largest container port, managed by the Jawaharlal Nehru Port Authority, and has engaged state-backed investment banks to initiate the regulatory processes for the share sale, two people aware of the matter told Mint.The process remains in the earliest stages, with no valuation discussions yet and no timeline set, the people said, who asked not to be identified because the talks are private. The focus is on preparing JNPA for the compliance and reporting standards required of a publicly listed organization—this is something that is needed before pricing or deal structuring can commence."The process is in the preliminary stages and involves multiple layers of departmental approvals," said one of the people, who asked not to be identified because the discussions are private.

Subscribe to enjoy similar stories.The Nifty finally showed signs of strength, generating the confidence that had been missing over the past few weeks. After identifying key support and resistance zones, Friday's strong upward move suggests momentum could build further in the sessions ahead.On 8 May 2026, the broader market picture remained mixed.

Subscribe to enjoy similar stories.NEW DELHI: India’s electronics companies are getting more time, but not price revisions, to execute government procurement contracts as geopolitical conflicts and supply-chain disruptions raise costs for suppliers of smartphones, tablets and laptops.In a 29 April notice, the department of expenditure in the finance ministry said global economic and supply-chain disruptions triggered by the Iran conflict and preceding geopolitical tensions qualify as force majeure, allowing companies executing government contracts to seek delivery extensions of up to four months without penalty.The move offers some relief to companies such as Acer, Lava and Samsung India, which had sought price revisions for ongoing contracts amid rising component and logistics costs but have so far failed to secure them. Instead, the Centre has allowed extensions of “not less than two months and not more than four months.”The order said the Centre “recognizes delays in delivery in completion of contractual obligations on account of force majeure event for which the supplier, consultant, service provider and contractor is not at fault.

Subscribe to enjoy similar stories.Farm goods that have long remained shut out of cash settlements may be in for a pivotal shift, potentially deepening derivatives trading in India's vital commodities sector. A regulatory panel formed by the Securities and Exchange Board of India (Sebi) has greenlit cash settlements up to fixed thresholds in select agriculture commodities, two people aware of the discussions said, balancing the need to deepen the sector while minimizing the risks.Currently, physical delivery is mandatory for all farm derivatives, meaning traders must hand over or take receipt of the physical goods once the futures or options contract expires.

Subscribe to enjoy similar stories.NEW DELHI: The Centre is preparing to crack down on the illegal sale, distribution and misuse of sexual enhancement medicines, with the drug regulator warning that it has become a threat to both public safety and social dignity, according to two government officials and a document reviewed by Mint.This regulatory action against unauthorized products sold without valid prescriptions has been ordered by Drugs Controller General of India (DCGI) Dr. Rajeev Singh Raghuvanshi.

Subscribe to enjoy similar stories.India’s retail inflation likely rose to 3.8% in April from 3.4% in March, moving closer to the Reserve Bank of India’s (RBI) medium-term target of 4% as food prices firmed up across key categories and favourable base effects continued to fade, according to the median estimate of 20 economists polled by Mint. Official data is due on 12 May.Economists expect Consumer Price Index (CPI) inflation for April to print between 3.5% and 4.2%, with all respondents anticipating further firming under the revised CPI series with 2024 as the base year.India’s retail inflation had risen to 3.4% in March from 3.21% in February, driven by higher food and energy prices amid tensions in West Asia.“CPI inflation is expected to rise in April 2026 from March, largely on account of hardening food and beverages inflation led by edible oils, vegetables, and readymade food segments,” said Aditi Nayar, chief economist at ratings agency Icra Ltd.Economists at Societe Generale said simultaneous increases in vegetable and edible oil prices tend to broaden food inflation pressures, raising the risk of spillovers into headline inflation.

Subscribe to enjoy similar stories.MUMBAI: Aerospace and defence major Rolls-Royce Plc is borrowing from the India playbook of British energy giant BP Plc as it pursues billions of dollars worth of opportunities across defence, civil aviation and nuclear energy in the country.To lead that push, Rolls-Royce has turned to Sashi Mukundan, the former head of BP’s India business, who spent 24 years building the energy company’s partnerships in the country across gas, fuel retail and mobility ventures.The man who recruited him: Rolls-Royce chief executive Tufan Erginbilgic, who himself spent two decades at BP, including five years leading its downstream business.“Tufan was also with BP before. He’s seen how BP built the relationship in India,” Mukundan, now executive vice president Transformation India at Rolls-Royce, told Mint.

Subscribe to enjoy similar stories.Stock market recap: The benchmark Nifty 50 had a volatile and weak trading session on Friday, 8 May, opening with a sharp gap-down at 24,233.65 and closing 146.15 points lower, or 0.60%, at 24,180.50, slipping below the key 24,200 mark.Sentiment remained under pressure amid escalating geopolitical tensions between the US and Iran, which heightened global risk aversion and pushed Brent crude oil prices higher. The surge in crude also weighed on the Indian rupee, which weakened to 94.48 against the dollar, stoking concerns over sustained foreign institutional investor (FII) outflows.Heavy profit-booking in banking and oil heavyweights such as State Bank of India and HDFC Bank further dragged the index lower, while modest gains in defensives like IT were not enough to offset the broader market weakness.Buy: eClerx Services Ltd (current price: ₹1,668)Action Construction Equipment Ltd (current price: ₹947)Nifty 50 performance on 8 MayThe Nifty 50 witnessed a weak and volatile trading session, opening on a negative note at 24,233.65 amid cautious global cues.

Subscribe to enjoy similar stories.When 35-year-old Rooma Sinha listed her studio apartment in Goa’s Arpora village on Airbnb two years ago, she wasn’t sure about how things would play out. Renting the apartment out would assure her of a steady income, but the AirBnB listing had the potential to help her earn much more.

Subscribe to enjoy similar stories.Mumbai: Axis Bank is selectively chasing corporate loan growth in sectors with strong tailwinds, such as data centres, commercial real estate and renewables, while staying “watchful” in the weaker segments, said Vijay Mulbagal, group executive and head of wholesale bank coverage, corporate salary, sustainability and CSR.The private sector lender has also sidestepped the “bidding game” in some aggressively priced loans to state-run firms, as banks grapple with pressure on margins and companies remain cautious on large capital expenditure despite healthy profitability.India’s third-largest private lender reported a 38% growth in corporate loans during the March quarter of FY26, significantly outpacing its rivals. The growth of corporate lending—outstanding loans at ₹4.12 trillion as on 31 March—was also higher than the bank’s retail or small business segments.Mulbagal, who joined from HDFC Bank in 2024, took over the corporate vertical a year ago, told Mint in an interview that the bank has not been reckless and its underwriting standards have been strong, with corporate borrowers rated A- and above at 91% of the book.

Subscribe to enjoy similar stories.State-run NTPC Ltd is considering investing about ₹56,000 crore to set up 2.8 gigawatt (GW) of nuclear power generation capacity in Bihar through its subsidiary NTPC Parmanu Urja Nigam Ltd, two people aware of the development said.The proposal involves initially setting up two units of 700 megawatts (MW) each, which may later be scaled up with two additional 700 MW units, taking total capacity to 2.8 GW, they said.The required capital expenditure for 1 MW of nuclear power generation capacity is about ₹20 crore. NTPC is conducting a feasibility study for the proposed site in Banka district of Bihar."The standard capacity of NTPC's nuclear power plants would be 2x700 MW.

Subscribe to enjoy similar stories."Our first kartavya (duty) is to accelerate and sustain economic growth by enhancing productivity and competitiveness.” This statement by India’s finance minister Nirmala Sitharaman in this year’s budget speech set a clear imperative: that productivity and competitiveness are not incidental to India’s growth story, but necessary conditions for its long-term economic development. Its significance has grown clearer since.

Subscribe to enjoy similar stories.Indian cuisine rarely takes salads seriously, or just does not call them that. What is a kachumber if not a salad? Or a kosambari/koshimbir of cucumbers, carrots or beetroot tossed with yoghurt and roasted peanuts? Isn’t the Manipuri singju a salad of vegetables and herbs mixed with ngari or fermented fish paste?Call them what you want, but salads bring something extra to the table.

Subscribe to enjoy similar stories.Apart from some currency depreciation, the Indian economy has held up reasonably well, and growth numbers remain stable, said Sailesh Raj Bhan, president and chief investment officer (CIO) - Equity Investments, Nippon India Mutual Fund.“India today is also far less fragile than before,” he added.The broader belief is that elevated crude prices are not a permanent situation, as they would hurt the global economy as well. Once conditions normalize, flows are likely to return to India, said Bhan.Among the sectors, he likes all private-sector banks, consumer plays, and general insurance plays.Edited excerpts:Things will improve in India as investors begin to see opportunities emerge.

Subscribe to enjoy similar stories.The Centre has approved a ₹5,659 crore Cotton Productivity Mission (Kapas Kanti) over five years to revive India’s cotton economy at a time when output has stagnated, imports are rising and textile exporters face intensifying global competition.The mission marks one of the most ambitious interventions in India’s cotton-textile value chain in recent years, linking farm productivity to manufacturing competitiveness and export growth.Mint explains how the scheme seeks to lift yields, improve fibre quality and strengthen India’s textile export competitiveness.The programme seeks to address multiple structural weaknesses at once—low farm productivity, inconsistent fibre quality, volatile raw material supply and rising import dependence.Unlike earlier schemes focused largely on cultivation, this mission adopts a value-chain approach, connecting farm-level reforms with textile manufacturing, exports and global sourcing competitiveness.Improving the availability of domestic raw cotton is critical. Textile manufacturers have increasingly struggled with supply shortages and quality inconsistencies.

Subscribe to enjoy similar stories.Kota-based test preparation company Resonance Eduventures is preparing for a fresh growth phase after completing the bulk of its long-running debt resolution exercise, the top executive of the firm told Mint.Founder Ram Kishan Verma said the company is now betting on a recovery in offline coaching demand, student enrolments and brand rebuilding.“The company is now in a much better position operationally. Most of the work on the settlement side has been completed and we are closing the remaining part as well,” Verma told Mint, in an interview.Mint was the first to report in April that KKR-backed Resonance was nearing an asset reconstruction company (ARC)-led debt resolution that could see lenders take nearly an 80% haircut on principal claims after years of financial stress.India's test preparation market size was valued at $11.60 billion in 2025, growing at a CAGR of 8.7% during the forecast period 2026-2030, according to a report by research firm Technavio.Resonance, which was a sector leader before pandemic, was disrupted by digital hyper funded peers and faced high poaching pushing it into a debt trap.According to Abhijit Shrivastava, co-founder and managing partner at Azalea Capital Partners LLP, over 90% of lenders have already sold their exposure as part of the restructuring exercise.“The ARC involved is ACRE.

Subscribe to enjoy similar stories.A kilo of apples at Nature’s Basket, a retail chain associated with well-off shoppers, costs ₹499. At a modest local vendor, these would cost ₹200-250 per kg. Admittedly, their quality and source of origin may differ.

Subscribe to enjoy similar stories.The first public walkthrough of Epochal: The Period of Pioneers, a joint exhibition by Chatterjee & Lal and DAG in Mumbai, was packed to the rafters last month. Around 250 people turned up on a hot Saturday afternoon to see this showcase of modernists such as K.S. Kulkarni, Benode Behari Mukherjee, J.