Daily analysis of Indian market events grounded in real corporate filings. Every claim is backed by what companies actually said in their annual reports and quarterly results.
Yes Bank's own filings show Additional Tier 1 capital of nil since 2023, and no provision for the ₹8,415 crore case. Canara Bank (₹17,853 cr) and PNB (₹14,090 cr) still fund ~2% of RWA with AT-1, while Federal, IndusInd, RBL and IDFC First carry none.
Cabinet cleared Fairfax's Rs 52,878 crore purchase of 60.72% of IDBI Bank. Filings show Fairfax already promotes five NSE-listed companies — and CSB Bank's FY26 annual report says its 40% Fairfax stake is on an RBI-mandated dilution schedule with voting rights capped at 26%.
The RBI's new Foreign Exchange Risk Reserve applies only to hedges that buy foreign currency against the rupee. Filings from Ambuja Cements, TNPL, GHCL, Pidilite, Rico Auto and Federal Bank show exactly who pays and who already nets.
The draft National Steel Policy Vision 2047 assumes EAF share rises to 30% while induction furnaces fall to 15%. Filings from HEG, Graphite India, Vardhman Special Steels, JSW Steel, Tata Steel and Godawari Power show who gains and who pays.
Open-access solar additions were flat in 2025 (+0.5%). UltraTech buys renewable power at Rs 4.4/kWh vs Rs 7.4 grid; CleanMax realised tariff has fallen four years running. Who actually captures the captive-power saving.
The US Labor Department suspended eight IT employers from the PERM green-card route. Filings show the named Indian firms are the least visa-dependent — and the real onsite cost exposure sits in unnamed mid-caps.
RBI's account aggregator interoperability and bank-deposits-in-CAS reforms lifted CAMS and Pine Labs. Filings show AA share already slipping at CAMS, CDSL's eCAS income at just Rs 9.37 crore a quarter, and KFintech declining to control India's largest AA.
DGTR opened five anti-dumping probes on 5-6 October. Hindalco built India only inner-grooved copper tube plant; GSFC has been bleeding on caprolactam. Century Enka, Blue Star and Epack Durable buy the very inputs now under investigation.
SEBI will stop using the new Closing Auction Session to set derivatives settlement prices, reverting to a 30-minute VWAP while the cash market keeps the auction. Filings quantify who is actually exposed: Angel One at ~77% of gross broking revenue, BSE at ~80% of revenue from transaction charges, and CDSL at none.
Ahead of the 5-7 October MPC, Ind AS 107 interest-rate sensitivity notes in FY26 annual reports show Tata Power at Rs 208 crore per 50bp while Vedanta, UPL, JSW Energy, Adani Ports and Ashok Leyland are far less exposed than their rate-sensitive labels suggest.
The India-UK pact cut Scotch duty from 150% to 75%. Radico imports over Rs 250 crore of bulk Scotch a year, Tilaknagar just bought Imperial Blue, and Allied Blenders blends Scotch malts - the duty cut is their input cost cut.
RoDTEP and RoSCTL were extended only to 31 December 2026. Filings show Apex Frozen Foods, Gokaldas, Welspun Living and Nitin Spinners lean on these rebates for a large share of pre-tax profit.
Essar will spend $15-18bn on a US steel mill. Filings show Hindalco/Novelis's Alabama plant went from $2.5bn to $5bn — tariffs named as a cause — while Jash, Sansera, TD Power and Rajratan chose differently.
The US 100% pharma tariff's speciality carve-out covers rare-disease, gene and fertility drugs. NSE filings show only Zydus really sells those, while Sun Pharma's Innovative Medicines business — now 21.9% of sales — sits outside the exemption.
Business Standard says India's chip push faces a funding gap. Filings show CG Power banked ₹601 crore of grants and Kaynes ₹170 crore — while the segment still loses money.