India’s business landscape continues to see meaningful movement across markets, with corporate earnings, infrastructure spending, taxation and monetary policy shaping the outlook for businesses and investors.

Today’s developments focus a wide range of financial and economic information. Infrastructure orders are gaining traction, energy pricing is drawing attention, while proposed GST changes could influence corporate costs and investment decisions. Gold imports and monetary policy also remain closely watched as policymakers respond to changing economic circumstances.

The coverage also looks at developments in the IPO market and changes being considered for vehicle taxation. All together, these developments offer a closer view of the factors influencing India’s corporate and financial landscape.

Here’s a look at the key business and financial developments making an impact today.

1. Marico Expects Strong Q2 as Core FMCG Brands Gain Momentum

Marico expects consolidated revenue to grow at a double-digit rate in Q2 FY27, supported by resilient domestic demand and strong volume growth across its core franchises.

Parachute Coconut Oil posted early-teens volume growth, while Value Added Hair Oils recorded another quarter of strong growth. International operations also grew in the teens, led by Vietnam, the Middle East and South Africa.

• Marico expects double-digit consolidated revenue growth
• Parachute Coconut Oil volumes grew in the early teens
• International business recorded constant-currency growth in the teens

2. L&T Wins ₹10,000-15,000 Crore Power Transmission Orders

Larsen & Toubro’s Power Transmission & Distribution business has secured EPC orders worth Rs 10,000-15,000 crore across India and the Middle East. The projects include 380 kV transmission and substations in Saudi Arabia, 132/11 kV substations in the UAE and a transmission system in Visakhapatnam.

The orders will support grid expansion and renewable energy integration.

• Orders valued at Rs 10,000-15,000 crore
• Saudi projects support renewable energy evacuation
• Visakhapatnam project includes transmission lines and substations

“These order wins demonstrate the breadth of PT&D’s engineering and execution capabilities and the ability to deliver complex power infrastructure solutions across geographies.” — Joji Sebastian, Executive Vice President & Head – PT&D, L&T

3. Orient Cables Shares Debut 65% Above IPO Price

Orient Cables shares made a strong market debut on October 5, opening at Rs 450 on the NSE, a 65.44% premium over its Rs 272 issue price.

The Gurugram-based networking and cable manufacturer’s IPO was subscribed 97.28 times, with the company raising Rs 552 crore. The proceeds will support manufacturing expansion, machinery purchases and debt repayment.

• Shares opened at Rs 450 on the NSE
• IPO received 97.28 times overall subscription
• ₹552 crore was raised through the offering

4. GST Council May Allow ITC on Employee Insurance Premiums

The GST Council may consider allowing employers to claim input tax credit on insurance premiums paid for employee coverage at its October 7 meeting. Currently, group life and health insurance policies attract 18% GST without ITC for businesses.

The proposed change could lower the cost of employee insurance for organized employers and potentially encourage wider coverage.

• GST Council may consider the proposal on October 7
• Group insurance currently attracts 18% GST
• ITC could reduce employers’ insurance costs

5. Government Raises Deepwater Gas Price Ceiling to $9.89

The government has raised the ceiling price for natural gas from deepwater, ultra-deepwater and high-pressure fields to $9.89 per MMBtu for October 2026-March 2027, from $8.90 previously. The revised ceiling applies to difficult fields such as Reliance Industries and BP’s KG-D6 block.

The move could support investment in technically challenging offshore gas resources.

• Deepwater gas ceiling rises to $9.89 per MMBtu
• APM gas ceiling remains at $7 per MMBtu
• New ONGC and OIL wells can receive up to $7.70 per MMBtu

6. GST Council May Withdraw Gold Import Tax Exemption

The GST Council may consider withdrawing the IGST exemption on gold, silver and platinum imports by banks and nominated agencies on October 7. The exemption was introduced in 2017 when precious-metal imports were tightly controlled.

The move comes amid concerns over India’s foreign exchange outflows, while Prime Minister Narendra Modi has also urged consumers to avoid gold purchases.

• IGST exemption could be withdrawn for banks and nominated agencies
• India raised precious-metal import duties earlier this year
• Gold imports rose 3.38% to $17.47 billion during April-August

7. RBI May Raise Repo Rate by 25 Basis Points in October

The Reserve Bank of India may raise its repo rate by 25 basis points in October as inflationary pressures increase amid higher crude prices and renewed West Asia tensions.

A PTI poll of 16 economists and bankers points to a possible policy reversal after rate cuts in 2025. Kanika Pasricha of Union Bank expects global rate moves and inflation risks to support a hike.

• RBI repo rate could rise by 25 basis points
• Current repo rate stands at 5.25%
• August retail inflation reached an eight-month high of 4.82%

“Coordination with global central bank hikes, rising inflation risks and strong growth momentum provide policy space to hike.” — Kanika Pasricha, Chief Economic Advisor, Union Bank of India

“The recent surge in crude oil prices to above USD 100/barrel could likely lead to an increase in the retail selling price of petrol and diesel.” — Aditi Nayar, Chief Economist, ICRA

“In fact, the upward revision to future inflation is almost a precondition for a rate hike.” — Apoorva Javadekar, Chief Economist, Shriram Group

“Around 19% of the 358 items in the CPI basket” are recording inflation above 6%. — Rajani Sinha, Chief Economist, CareEdge Ratings

8. GST Council May Align EV & ICE Fleet Tax Treatment

The GST Council may consider aligning the tax treatment of EV and conventional vehicle-based passenger transport and rental services on October 7.

Under the proposal, EV fleet operators could choose between 5% GST with restricted ITC or 18% GST with full eligible ITC, matching the framework available for ICE-based services. The move could remove a tax distinction between competing vehicle technologies.

• EV and ICE fleet services could receive similar GST treatment
• Operators may choose 5% GST or 18% with eligible ITC
• Proposal also covers leasing, renting and vehicle-related expenses