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INDIA MARKET | Sun, 18 Oct 2026, 10:15AM IST Sensex and Nifty extended gains for a second straight session on Friday, led by IT stocks, which rose for a fourth consecutive session, along with buying in auto, metal and PSU banking stocks. Niftys recovery could continue as long as it holds above the crucial 22,75022,800 support zone.

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INDIA MARKET | Sun, 18 Oct 2026, 10:12AM IST ICICI Bank reported a 20% rise in second-quarter net profit, helped by an 18% increase in core net interest income. However, core profitability edged lower as FCNR(B) deposits weighed on margins. NIM fell to 4.18%, while treasury operations swung to a loss amid higher government bond yields.

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INDIA MARKET | Sun, 18 Oct 2026, 10:09AM IST On Friday, Trump signed an executive order exempting Russia from a new sanctions measure Graham Act that the US Congress passed last month

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INDIA MARKET | Sun, 18 Oct 2026, 10:08AM IST HDFC Bank reported a 4.7% rise in standalone net profit for the second quarter, while margin pressure weighed on core profitability. Net interest income rose 9.7% as loans and deposits grew. The lender is also set to welcome a new chief executive this month, ending prolonged succession uncertainty.

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INDIA MARKET | Sun, 18 Oct 2026, 10:03AM IST Paras Healthcare has fixed the IPO price band at Rs 660-693 per share for its Rs 1,450 crore issue, which opens on October 21. The offering includes a fresh issue of Rs 500 crore and an offer for sale worth Rs 950 crore. Proceeds will be used mainly to repay borrowings.

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INDIA MARKET | Sun, 18 Oct 2026, 10:00AM IST Ixigo's financial report reveals a net profit of 63.42 crore for the July-September period, indicating robust performance. The company enjoyed a 13% increase in operational revenue, totaling 320.96 crore. Their hotel segment excelled with a Gross Bookings Value surpassing 100 crores, reflecting a remarkable 159% year-on-year growth and driving significant revenue increase, largely from its loyal user base utilizing various transportation services.

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INDIA MARKET | Sun, 18 Oct 2026, 9:59AM IST Axis Bank has showcased impressive results with a 38% surge in net profit for the quarter ending in September. This significant growth stems from strong loan demand and enhanced asset quality. The bank's net interest income increased by 11.8% year-on-year, totaling 15,371 crore, while overall advances rose by 23% compared to the previous year. The stability in the bank's net interest margin emphasizes its positive financial trajectory.

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INDIA MARKET | Sun, 18 Oct 2026, 9:56AM IST In September 2026, Central Bank of India reported an impressive net profit hike of 21%, totaling 1,469 crore. This boost was largely attributed to strong loan growth, even as other income declined. The bank's net interest income surged by 26% to 4,146 crore. Additionally, total income rose by 15% to reach 11,737 crore, with the cost-to-income ratio improving to 58.95% from 62.42% a year prior.

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INDIA MARKET | Sun, 18 Oct 2026, 9:54AM IST YES Bank's net profit increased by 65% to 1,080 crore in the second quarter, driven by higher income. However, factoring in a Supreme Court judgment could lead to a post-tax loss of 5,217 crore. The court upheld a ruling concerning the bank's AT1 bonds, impacting its financial reporting. The bank's auditors noted that the financial outcomes might have been significantly different without this recognition.

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INDIA MARKET | Sun, 18 Oct 2026, 9:52AM IST IDBI Bank witnessed a substantial 39% drop in net profit for the September quarter, primarily driven by decreased non-interest earnings. This follows a previous year where profits were significantly elevated by one-time gains. Nonetheless, net interest income saw a 29% increase year-on-year, indicating solid operational stability, although operating expenses surged by 19%. The bank's privatization, through the sale to Fairfax, aims to enhance performance and profitability.

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INDIA NEWS | Sun, 18 Oct 2026, 9:18AM IST Six months ago, Surekha Panicker (name changed), a 65-year-old retired professional from Kerala, stared at her diagnosis in shockstage-2 breast cancer. She had no family and limited savings. She went to an oncologist at a leading private hospital to figure out a treatment plan. They decided on immunotherapy, particularly Roches injection Phesgo, which would cost Rs 5 lakh for the first loading dose of a 1,200 mg vial and over Rs 2 lakh for subsequent doses. She was offered a buy one, get one deal under Roches patient assistance programme you pay for one cycle and the next will be free. She was prescribed eight cycles.After two cycles, Panicker developed a severe bacterial infection and had to pause the treatment and go for surgery. The free offer lapsed due to the break. She has paid over Rs 35 lakh from her own pocketfor the treatment of the infection, the surgery, all subsequent cycles of immunotherapy and other hospital charges. Her funds are almost exhausted. Panicker doesnt know how to pay for another course of treatment.Also Read: NPPA caps trade margins on 137 cancer drugs at 30%, revised prices from Nov 9My husband died two decades ago. I have no kids or close relatives. I spent my savings on immunotherapy in the hope that it would buy me at least 10 years. I dont know how I will manage if I need to continue the treatment, says Panicker.135023376It is not just Panickers plight. Millions of cancer patients in India have to bear the double burden of the disease and the dreadfully expensive treatment.A PRESCRIPTION AWAY FROM BANKRUPTCYThe high cost of cancer drugs is in full public glare after the Supreme Court criticised the massive markup in their prices. A bench of Justices Vikram Nath and Sandeep Mehta, hearing two writ petitions filed by lawyer Kishan Chand Jain and paediatric surge on Sanjay Kulshrestha, said medicines that are purchased by retailers for Rs 2,700 are being sold to patients for Rs 27,000. They called it broad daylight dacoity.The anger of the bench resonates with the people. In a country where 1.5 million cancer cases are detected every year, a diagnosis very often leads to a long painful road of financial distress. Patients drain bank accounts, wipe out savings and even sell land just to get their hands on these promising but prohibitively expensive new medicines. How did India fail to make life-saving drugs affordable for its population?A Mumbai-based oncologist says the situation is dire. People are only a prescription away from bankruptcy, he says.Patients have no hope in the absence of a fair pricing mechanism, a pooled procurement plan by hospital networks and an effective insurance and reimbursement system, he says on condition of anonymity.There are exceptions though. The Tata Memorial Centre in Mumbai procures drugs on a negotiated model, at rates that are far less than the maximum retail price (MRP), which makes them cheaper for its patients.A study by top oncologists published in the Bulletin of the World Health Organization in 2023 showed that a pooled procurement of 40 drugs by the National Cancer Grida network of over 250 cancer centressaved `13.2 billion compared with MRP. The savings ranged from 23% to 99%.COST OF CARETop private hospitals do not agree that they are committing medical dacoity. In addition to the retail price of the medicine, they say, the hospital bill includes the cost of administration, use of facility, storage, training and consumables.Abhay Soi, chairman and managing director of Max Healthcare Institute, says at the end of the day, a hospital is not selling an IV fluid bag. A hospital is administering an injection. There is a particular training, a particular storage requirement, the administration of medicine and then the disposal through proper biomedical waste processes. There is an entire value chain, he says.Also Read: Supreme Court questions govt over drug pricing, asks why cap limited to anti-cancer medicinesHospitals have thousands of individual billing items, with margins varying across products and services, he says. Some wont have a margin, some will have a margin. Ultimately, it translates to 8-9% net profit, says Soi. He says hospital profitability needs to be viewed against the sectors capital intensity and continuing investment requirements. Your equipment gets totally depreciated. You replace the entire equipment every 10 years. Eventually, you must reinvest as well, he says.BS Ajai Kumar, founder of specialty cancer hospital group HCG Enterprises, backs Sois point. He says it is important to understand that India provides high-quality cancer treat ment at a much lower cost than many Western countries like US. Private hospitals, he adds, should be assessed not simply by the markup on an individual drug but the overall cost of treatment relative to the quality of care and outcomes delivered.135023362MARK THE MARKUPSHealth activists, however, note that hospitals lack transparency. They ask: what is the chain of markups from pharma manufacturers to distribution chains and healthcare providers?In response to the Supreme Courts criticism, the government has proposed a cap on trade margins for non-scheduled cancer drugs, which are not listed in Drugs (Prices Control) Order or DPCO.The margin is proposed to be capped at 30% of MRP. This means drug purchased for Rs700 cannot be sold for more than Rs 1,000. The move, the government says, could bring down prices by up to 70% and can help patients save Rs 2,500 crore annually.However, civil society and patient advocacy groups are not sure of the impact of this intervention. Several stakeholders, including doctors, told ET that the larger issue remains unresolved and several drugs, specifically patented drugs, are still exorbitantly priced. Patient assistance programmes of MNCs, though well-intentioned, are not adequate, says a health activist.High base prices, steep hospital markups and limited disclosure of procurement costs are behind the problem, says Jain, who moved the petition in the apex court.There is a huge difference in the prices of some cancer drugs sold through the Jan Aushadhi Scheme, the governments fair price stores, and other retail shops, claims Jains petition. A 50 mg vial of doxorubicin injection costs Rs 250 at Jan Aushadhi, while the average price of top three brands for the same medicine in other retail shops is Rs 1,230 an increase of over 390%. A 1,000 mg vial of gemcitabine costs Rs 631 at Jan Aushadhi and Rs 6,412 in other shops a 916% increase.Jain says trade margin for drugs should be calculated on the actual exfactory price or purchase price rather than as a percentage of printed MRP. A medicine purchased for Rs 700 can be given an MRP of Rs 1,000 under the new trade margin cap proposed by the government. But that markup of Rs 300 is still about 43% of the purchase price.135023394DIFFERENT PROBLEMSExperts say the proposed margin cap of 30% will have an effect on drugs with exceptionally high markups. However,it will have little impact on patented cancer drugs that cost Rs 1.5-2 lakh for a vial and tens of thousands of rupees for a strip of tablets as their prices are not pushed up by markups.Multinational companies supply their patented medicines based on a combination of factorsthe countrys population and expected demand, international reference pricing, per capita income and paying or purchasing capacity of the country. For patented medicines, margin capping does not work. And in the case of generic medicines, the regulation may not work on every drug, says KM Gopakumar, co-con vener, Working Group on Access to Medicines and Treat-ments, a network of patients and activists fighting for affordable healthcare.He says there should be a clear distinction between excessive hospital-level markups and high cost of patented drugs. The two problems may require different regulatory interventions.Gopakumar cites a public interest litigation on the high cost of the breast cancer drug ribociclib. It cost Rs 78,000 for a months treatment before 2019 when the government regulated the prices of 42 cancer drugs. Ribociclibs price has come down but it is still unaffordable at Rs 66,000.TAXING MRPAbhay Shukla, co-convener of Jan Swasthya Abhiyan, a national network on public health, also says markups will have limited impact. He says all cancer medicines should be brought under the scheduled price-control framework. Drug prices must be determined by production costs rather than inflated market prices, he says. Regulators should first establish a medicines production cost and use that as the basis for determining a reasonable price, rather than rely on the prices charged by manufacturers.That may not be easy. Global drug firms price their new innovations based on comparable benefits over available treatment options and cost of research which runs into billions of dollars.135023419Shukla says pharmaceutical companies often print inflated MRPs and offer hospitals substantial discounts while hospitals sell the medicine to patients at the printed price. Controlling the margins of hospitals alone does not address the problem if the MRP itself is inflated, he says.Besides, he says, DPCO covers only a fraction of the drug market, leaving a significant partwhich includes many high-cost, life-saving drugsoutside the purview of direct price regulation or ceiling.Scheduled medicines, which are under DPCO, account for only 17% or Rs 43,683 crore of the pharmaceutical market, while nonscheduled medicines account for Rs 2,15,294 crore or 83% of the market, estimated at Rs 2,58,977 crore, according to government data. The manufacturers of non-scheduled medicines can determine the launch price, but subsequent increases cannot exceed more than 10% annually.The apex court has questioned the Centre on restricting price control to select cancer medicines, asking why similar measures are not being considered for other drugs.Jain estimates that extending price reduction across the broader non-scheduled market could potentially save patients around Rs 1 lakh crore annually. Profit should not mean profiteering, he says.The debate has spilled over, with even hospitals and medical insurance companies sparring over reimbursement rates. Top insurers are pushing for a regulatory mechanism for greater standardisation of hospital pricing and treatment protocols. Mayank Bathwal, CEO of Aditya Birla Health Insurance, says: We dont have a health regulator as it is a state subject. There must be a mechanism for regulation of healthcare services and pricing within certain norms so that whoever is investing is getting a fair return but, most importantly, consumers are provided affordable healthcare services.The Supreme Court has set in motion a much-needed debate on affordable cancer care. But patients like Panicker have a finite waiting time. They need a treatment within their means soon. The cost of remission should not be harrowing debt.

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INDIA BUSINESS | Sun, 18 Oct 2026, 9:18AM IST For millions of cancer patients, the cost of treatment can be as frightening as the diagnosis. From steep markups to patented drugs that remain out of reach, the affordability crisis runs deep. A proposed cap may help, but question remains if it will be enough to change the picture.

Continue reading at Economic Times

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INDIA BUSINESS | Sun, 18 Oct 2026, 9:00AM IST With the formation of Upstairs With Us, Sukanya Banerjee and Tejas Jaishankar aim to bring classical musicians into the comfort of people's homes. Alongside initiatives like Once Upon India and Tiny Room Concerts, they offer a fresh take on live music. By prioritizing small gatherings in intimate settings, they foster connection and collaboration among diverse audiences seeking alternatives to traditional concert formats.

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INDIA BUSINESS | Sun, 18 Oct 2026, 8:59AM IST Litigation funding has emerged as a viable option for individuals involved in inheritance disputes in India. Firms are assessing the potential returns and legal merits of such cases before committing funds. Many families seek assistance due to their asset-rich but cash-poor situations. The funding process can significantly alter the dynamics of ongoing legal battles for beneficiaries.

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INDIA MARKET | Sun, 18 Oct 2026, 8:45AM IST Salt Lake hosts several prominent Durga Puja celebrations that attract large numbers of devotees and visitors every year.

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INDIA MARKET | Sun, 18 Oct 2026, 8:23AM IST Truck rams into devotees near temple, 12 dead and several injured

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INDIA MARKET | Sun, 18 Oct 2026, 8:03AM IST Yes Bank's Q2 profit would not have existed if impact of SC's judgement was included.

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INDIA MARKET | Sun, 18 Oct 2026, 7:54AM IST Adhikari said CCTV footage would be examined to determine whether adequate crowd-control measures had been implemented.

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INDIA MARKET | Sun, 18 Oct 2026, 7:28AM IST At least 25 people were injured in a stampede-like situation arising out of a crowd surge at a community Durga Puja in north Kolkata on Saturday evening, police said. As it started raining, the crowd waiting outside the Chorbagan Durga Puja pandal ...

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INDIA NEWS | Sun, 18 Oct 2026, 6:32AM IST Wichita: A person drove a vehicle through a soccer field during a game in Kansas, killing two people and sending multiple other victims to the hospital, authorities said.One child and one adult were killed on Saturday, Wichita police reported, without disclosing their ages.Police said the driver was in custody but did not give further details about the person or say whether they believe it was intentional. Two minors were also in the vehicle.Police, fire and EMS officials responded, and authorities said there was no further public threat.Mayor Lily Wu advised people to avoid the area during the investigation and said the news was heartbreaking."My thoughts and prayers are with everyone affected, especially the children and families involved," she said via Facebook.

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INDIA BUSINESS | Sun, 18 Oct 2026, 6:00AM IST Nearly Rs 2,000 crore has been committed across key religious destinations over the past 12-18 months, according to Noesis Hotel Advisors, as some of India's wealthiest business families turn their conviction in these destinations into a hospitality investment play.

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INDIA NEWS | Sun, 18 Oct 2026, 6:00AM IST Mumbai: Family offices are investing in hospitality assets around major pilgrimage centres across India, from Deoghar and Mathura to Saurashtra and Udupi, opening a new frontier for the domestic hotel industry. From a Mumbai family office acquiring a nearly completed upscale hotel in Udupi to RR Kabel's investment in Salasar Balaji, family capital is flowing into branded hotels around India's biggest pilgrimage centres.Nearly Rs 2,000 crore has been committed across key religious destinations over the past 12-18 months, according to Noesis Hotel Advisors, as some of India's wealthiest business families turn their conviction in these destinations into a hospitality investment play.Also Read: Lemon Tree Hotels announces signing of MoU with Omaxe for operating 4,000 keysThe Udupi acquisition involves a nearly completed 137-room upscale hotel that will operate under a premium brand of Indian Hotels Company (IHCL). In Salasar Balaji, a family office is developing a 108-room property, while ITC Hotels has signed a 145-room Welcomhotel project on a six-acre site near the temple.135018616In Khatu Shyamji, Royal Orchid Hotels has signed a 120-room hotel with the Agarwal family, around 2 km from the temple.The deals signal a shift from traditional dharamshalas and independent lodgings towards branded, professionally managed hotels. IHCL, ITC Hotels, Sarovar Hotels and Radisson are among the operators expanding across religious markets.For Mahendra Kabra, managing director at RR Kabel, the investment in Salasar Balaji is driven by personal faith as well as commercial conviction.Also Read: Protests, traffic curbs in Delhi hit hotel businessResilience of Religious Travel"I am a big believer in Salasar Balaji and go there every year. Instead of having a dharamshala there, I thought it would be better to invest in a hospitality asset in Salasar Balaji," he said. The hotel will be managed by Sarovar Hotels.The appeal for investors lies in the relative resilience of religious travel. "A metro hotel lives and dies by corporate cycles; a pilgrimage hotel draws guests in good years and bad years alike," a representative of a Mumbai-based family office that recently invested in the segment said on condition of anonymity."Faith is India's most reliable demand generator," said Ajay Bakaya, chairman of Sarovar Hotels, an early entrant in several religious destinations. Occupancy is strong in these markets, according to him, particularly for mid-tier properties with 80-100 rooms. "A lot of family offices also see development potential in investing in properties in such religious locations," he said.Much of the capital comes from regional trading, industrial and real estate families in Rajasthan, Madhya Pradesh, Uttar Pradesh, Karnataka and Andhra Pradesh. Individual investments range from 60 crore for a midscale hotel to 150 crore or more for an upscale asset, according to Noesis Hotel Advisors."This is not speculative money. These are families who have watched pilgrim footfall in their own towns double in a decade and are now converting that conviction into branded, institutional-grade assets," said Nandivardhan Jain, founder and CEO of Noesis Hotel Advisors, which has advised on some of the deals. "The capital is patient, it is local and it is backed by land the family already owns. That combination makes it one of the most stable sources of hotel equity in India today." Jain cautioned, though, that resilient demand and family-owned land do not guarantee a viable hotel. "A temple is not a feasibility study," he said.Better roads, airports, expressways, and pilgrimage corridors are turning day-trip destinations into overnight stops, improving the economics of branded hospitality. For hotel chains looking beyond saturated urban markets, temple towns offer a growing pool of demand and relatively limited branded supply. For family offices, experts say the bet is on faith-an enduring reason to travel.

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INDIA BUSINESS | Sun, 18 Oct 2026, 6:00AM IST Restaurants are stepping into a meal occasion traditionally associated with home kitchens to keep guests observing dietary restrictions at the table. The appetite for outsourcing fasting food is already evident: during September 2025's Navratri, Swiggy delivered more than 100,000 vrat thalis, 99,200 plates of sabudana khichdi and 70,000 orders of sabudana vada, according to its annual food trends report.

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INDIA MARKET | Sun, 18 Oct 2026, 5:18AM IST Dividend Stocks This Week

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INDIA BUSINESS | Sun, 18 Oct 2026, 4:00AM IST US President Donald Trump has waived fresh sanctions and duties on Russian energy exports under a new law, citing national interest and easing concerns over potential tariffs of up to 100% on major buyers, including India. The move comes as India continues to rely on Russian crude and explores long-term LNG supplies, while New Delhi and Moscow seek to expand cooperation across oil, gas, mining and steel.

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GLOBAL NEWS | Sun, 18 Oct 2026, 12:50AM IST The Trump administration is ignoring the will of Congress and waiving new Russia sanctions amid fears that high energy prices will cost Republicans in next months elections.

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INDIA BUSINESS | Sun, 18 Oct 2026, 12:00AM IST Executives of Reliance Consumer Products named in the FIR include V Subramaniam, Ashok Kumar Singh, Vijay Bhikaji Kharmale, and Nilesh Ramdasrao Deshmukh. The FIR has been registered at the Shanti Nagar police station in Thane.

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INDIA BUSINESS | Sun, 18 Oct 2026, 12:00AM IST Executives of Reliance Consumer Products named in the FIR include V Subramaniam, Ashok Kumar Singh, Vijay Bhikaji Kharmale, and Nilesh Ramdasrao Deshmukh. The FIR has been registered at the Shanti Nagar police station in Thane.

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INDIA MARKET | Sat, 17 Oct 2026, 11:48PM IST Neighbourhood pride, sponsorships, awards and social media visibility have further intensified competition among organisers.

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INDIA MARKET | Sat, 17 Oct 2026, 11:25PM IST Amit Shah will visit the hospital to meet the injured on Sunday.

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INDIA MARKET | Sat, 17 Oct 2026, 11:23PM IST PM Modi said the local administration was mobilising all available resources to assist those affected by the stampede

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INDIA NEWS | Sat, 17 Oct 2026, 11:15PM IST Delhi government has set up Delhi Institute for Transformation and Innovation (DITI) on the lines of NITI Aayog, for policy-making under its goal of "Viksit Dilli by 2047", officials said on Saturday. DITI will function as the Delhi government's premier advisory body for public policy, development strategy and institutional reforms, an official notification said. DITI replaces the Dialogue and Development Commission (DDC) that previously served as the think tank of the city government under AAP rule. Chief Minister Rekha Gupta had announced the constitution of DITI in Delhi's budget presented in March. In July, the Delhi government approved setting up the think tank comprising a Governing Board and an Executive Committee. According to the notification, the governing board's chairperson will be nominated by the chief minister. All ministers of the Delhi government, the chief secretary, the vice-chairperson of the Delhi Development Authority, the commissioner of the Municipal ...

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INDIA MARKET | Sat, 17 Oct 2026, 11:15PM IST The Walkman includes dual capacitors to supply power in lieu of a single capacitor.

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INDIA MARKET | Sat, 17 Oct 2026, 11:02PM IST At least 25 people were injured in a stampede-like situation arising out of a crowd surge at a community Durga Puja in north Kolkata on Saturday evening, police said. As it started raining, the crowd waiting outside the Chorbagan Durga Puja pandal ...

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