Frosty’s Ledger — Tuesday, 13 October 2026 edition

Economy & Policy

IMF raises India's FY27 growth forecast to 7% on strong domestic demand

The IMF raised its FY27 growth forecast for India, citing resilient domestic demand and robust services activity, and lifted its FY28 projection to 7 per cent from 6.7 per cent…

BS·Mint·BusinessLine·Fin. Express·Moneycontrol·ET6 papers9:34 AM

IMF raises UK growth forecast as economist says Healey should ‘stay the course’Guardian
IMF upgrades 2026 growth forecast but warns of ‘split’ outlookThe Hindu
IMF raises 2026 global growth forecast to 3.1%, warns of rising risks from war and debtET
India's HCLTech flags volatile demand environment, narrows growth forecastReuters

Markets

RBL Bank’s Q2 net profit jumps 170% YoY

RBL Bank mobilised $3.4 billion (₹32,472 crore) through the Reserve Bank of India’s concessional FCNR(B) swap facility by August 31.

The Hindu·BS·Mint·Fin. Express·ET5 papersYesterday 9:52 PM

Economy & Policy

Food, fuel push retail inflation to 23-month high of 5.54% in September

Retail inflation rose from 4.83% in August as food inflation climbed to 7.74%, led by a sharp rise in onion prices, while transport and services costs added to pressure…

BS·BusinessLine·CNBC·The Hindu·Fin. Express·ET6 papersYesterday 5:37 PM

Retail inflation rises to 5.54% in Sep as food inflation zooms to 7.74%BS

Markets

RBI to continue efforts to curb rupee volatility; external factors driving currency fall: FM

Finance Minister Nirmala Sitharaman mentioned the Reserve Bank of India’s ongoing efforts to stabilize the rupee's value. She noted that the rupee has significantly depreciated due to global uncertainties, despite India's strong economic fundamentals.

ET·BusinessLine·The Hindu·Bloomberg4 papers4:31 PM

Markets

UPI merchant charge rollout deferred until after Diwali; industry awaits clarity

The deferment gives merchants additional preparation time, but payment companies remain uncertain about when the proposed transaction charges will take effect…

BusinessLine·Mint·ET3 papers4:53 PM

Companies & Deals

Indigo signs $328 million finance deal with Citi for 8 Airbus aircraft buys

Indigo has entered into a USD 328 million financing agreement with Citi for purchasing eight Airbus planes. This marks the first aviation financing deal insured by the Belgian export credit agency Credendo.

ET·BS·Mint·BusinessLine4 papers3:02 PM

Economy & Policy

Robert E Hall, Michael Woodford win Nobel Prize in Economics 2026

Their research has strengthened economists' ability to understand and respond to economic shocks, including energy crises and sudden shifts in household consumption…

BS·BusinessLine·CNBC·Guardian·The Hindu5 papersYesterday 3:28 PM

Companies & Deals

No economic settlement reached in TVS family: Lakshmi Venu, Mallika

Lakshmi Venu and Mallika Srinivasan say no agreement has been reached on economic ownership within the Venu Srinivasan family, calling for a fair and transparent settlement…

BS·Fin. Express·Moneycontrol·Mint4 papersYesterday 10:13 PM

Who is Lakshmi Venu and what is Venu Srinivasan's daughter's role in the TVS family succession row?Mint

Your Watchlist

Tap for charts

JPMorgan$334.30▲ 0.39%
Goldman Sachs$893.95▼ 0.15%
Morgan Stanley$190.02● 0.00%
Bank of America$54.58▲ 0.48%
Citigroup$131.92▲ 1.76%
Indigo signs $328 million finance deal with Citi for 8 Airbus aircraft buysET

Nifty Movers

Today’s session

Top losers

Max Healthcare▼ 2.58%
Apollo Hospitals▼ 1.95%
ITC▼ 1.88%
Maruti Suzuki▼ 1.53%
Eternal▼ 0.93%

The Week Ahead

Times in IST

Tmrw14OctIndia wholesale prices (WPI)September figures · 12 noon ISTIN
Tmrw14OctUS inflation (CPI)September figures · 6:00 PM ISTUS
Tue20OctMarkets closedNSE & BSE shut for DussehraIN

The CFA & CA Lens

Today’s news, exam-style

CFA Level I

Economics

GDP & the business cycle

In the newsIMF raises India's FY27 growth forecast to 7% on strong domestic demand

GDP measures everything an economy produces. Upgrades and downgrades to growth forecasts feed straight into expectations for company earnings.

Exam angleGDP = C + I + G + (X − M). A PMI above 50 signals expansion and works as a leading indicator.

Financial Statement Analysis

Earnings & margins

In the newsRBL Bank’s Q2 net profit jumps 170% YoY

Results show whether a company is growing profits, not just sales. Margins show how much of each rupee of revenue survives as profit.

Exam angleGross margin → operating margin (EBIT) → net margin. EBITDA adds back depreciation and amortisation, which are non-cash expenses.

Portfolio Management

Systematic risk

In the newsRBI to continue efforts to curb rupee volatility; external factors driving currency fall: FM

In a broad sell-off most stocks fall together: a market-wide shock is a risk you can't diversify away by owning more shares.

Exam angleOnly systematic risk (beta) earns a premium in CAPM: E(R) = Rf + β × [E(Rm) − Rf].

CA · ICAI

CA Final · Financial Reporting

Leases on the balance sheet

In the newsIndigo signs $328 million finance deal with Citi for 8 Airbus aircraft buys

Airlines, retailers and hotels lease much of what they use. Under Ind AS 116 almost every lease shows up as an asset and a matching liability.

Exam angleThe lessee books a right-of-use asset and a lease liability. Rent becomes depreciation plus interest, which lifts EBITDA.

CA Final · Advanced Financial Management

Hedging currency risk

In the newsRupee jumps 82 paise to 94.96 against US dollar in early trade

Exporters and importers use forward contracts to lock in today the exchange rate they'll get when the payment actually arrives.

Exam angleForward rate by interest rate parity (direct quote): F = S × (1 + r_home) ÷ (1 + r_foreign). An exporter hedges by selling dollars forward.

CA Inter · Corporate & Other Laws

Dividends & buybacks under the Act

In the newsICICI Prudential AMC net profit up 6% on rise in AUM

Company law limits how much cash a company can hand back, to protect its creditors.

Exam angleDividends only out of profits (Section 123). Buybacks capped at 25% of paid-up capital and free reserves, with debt no more than twice capital and free reserves afterwards (Section 68).

Markets

17 stories

Stock markets rebound, led by rally in IT firms, HDFC Bank; Sensex jumps 1,109 points

The 30-share BSE Sensex jumped 1,109.10 points, or 1.54%, to settle near the day’s high at 73,033.78, posting its best single-day gains in four months.

The Hindu·BusinessLine·NDTV Profit3 papers4:52 PM

Rupee jumps 82 paise to 94.96 against US dollar in early trade

In early trading, the rupee appreciated by 82 paise against the US dollar, hitting 94.96, thanks to strategic moves by the Reserve Bank of India aimed at curbing dollar demand.

ET·BusinessLine·The Hindu3 papers10:03 AM

Chip stocks slide after Broadcom boss likens AI investing to ‘casino’

Asian markets fall and Samsung shares tumble after its Chinese rival CXMT claims strong progress Business live – latest updates Shares in semiconductor companies fell on Tuesday after the boss of Broadcom compared many AI investors to “casino” gamblers, and the Chinese…

Guardian·FT3:18 PM

Gold & Silver

Gold, silver prices today, 13 October: Rates flat as investors await US inflation data for Fed rate clues

Gold and silver prices today, 13 October: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.

Mint·ET·WSJ3 papers12:05 PM

24k vs 22k vs 20k vs 18k gold rate todayET

ICICI Prudential AMC net profit up 6% on rise in AUM

SIP inflows dip 3 per cent at ₹4,672 crore; Company declares dividend of ₹30 a share…

BusinessLine·NDTV ProfitYesterday 8:12 PM

HDFC Bank shares climb 0.84% as Q2 results loom; sellers still dominate

The stock opened at ₹707.00, hit an intraday high of ₹716.50 and a low of ₹705.10…

BusinessLine2:55 PM

Q2 results today: Hero Motors, Tata Elxsi, 20 others to report earnings

Q2FY27 results today: Hero Motors will report its first quarterly results since its stock market debut last month…

BS·BusinessLine10:48 AM

ICICI Prudential AMC shares rise 2% as Jefferies, other brokerages revise target prices after Q2 results. Should you buy?ET

Also in Markets

Economy & Policy

17 stories

AI investment props up global growth, but war, debt threaten outlook: IMF

For 2027, the IMF predicts 3.4% global growth, ‌flat with the July forecast and up 0.2 percentage point from April…

BS·BusinessLine·Reuters·ET4 papers10:06 AM

Indigo cancels flights to and from Riyadh, Jeddah, Dammam and Madinah amid Houthi airstrikes in Saudi Arabia

IndiGo has suspended flights to and from Riyadh, Jeddah, Dammam and Madinah until October 17, 2026, citing the evolving situation in Saudi Arabia. Passengers are advised to check their flight status before travelling to the airport.

Mint·BusinessLine·Reuters3 papers1:14 PM

Investors from US, China, India eye $844 million port project in Peru

The port ‌is expected to have a greater draft depth than Chancay, the northern Peru port operated by China's Cosco Shipping Ports since late 2024…

BS·BusinessLine·Reuters·ET4 papers7:56 AM

Bangladesh signs $336 million China loan for Mongla Port, just 80 km from India: What's at stake for New...Moneycontrol

Ditch Printed Question Papers To Stop Exam Leaks, Says Nandan Nilekani

"The moment you have a question paper, it becomes an economic incentive for that to be sold," said Nilekani, who heads the government's panel on exam reforms.

NDTV Profit·ET3:32 PM

Average loan size for PVs rises 49% to ₹8.2 lakh in 7 years: Report

The average passenger vehicle loan amount rose 49 per cent to Rs 8.2 lakh in the first half of 2026 from the corresponding period in 2019, while the average repayment tenure rose by five months to 62 months, suggesting rising car prices and consumer aspirations, a…

BS·BusinessLine3:51 PM

Proposed steel policy seeks AI-led detection of sub-standard steel imports

The draft steel policy seeks to put in place an AI-powered governance framework and advanced data analytics to ensure early detection of abnormal import trends and boost the competitiveness of the domestic steel industry.

BS·BusinessLine10:54 AM

LTCG tax removal on the table? FM Sitharaman says Budget consultations will hear investors’ views

Will LTCG tax be scrapped? Union Finance Minister Sitharaman signals openness to debate as SBI Research urges tax relief to attract foreign investors.

Mint·Moneycontrol3:10 PM

SBI Research urges govt to scrap LTCG tax on equities to attract foreign investorsMint

Also in Economy & Policy

Companies & Deals

17 stories

Elon Musk spent $276 million to boost Republicans in midterms

Tech billionaire Elon Musk has invested $276 million in right-wing organizations for the upcoming midterm elections. This significant contribution makes him the largest individual donor for the November elections.

ET·Mint·CNBC3 papers8:13 AM

India may need to raise coal power capacity as demand surges, official says

The South Asian nation, which planned last ⁠year to add 97 GW of coal power capacity to reach 307 GW by 2035, currently has about 230 GW ‌of capacity…

BusinessLine·BS·Reuters3 papers3:15 PM

India’s power hunger is fuelling a bigger coal betET

Prestige Estates Q2 sales bookings rise 20% to ₹7,225 cr on housing demand

During the first half of this fiscal, the company recorded pre-sales of ₹1,3804.3 crore with sales volume of 11.88 million square feet and 7,247 units sold…

BS·BusinessLine3:16 PM

Tata Motors PV, Stellantis expand tie-up for global vehicle development

The expanded partnership adds advanced technology and vehicle architecture collaboration to the companies' existing manufacturing relationship…

BS·BusinessLine·The Hindu·Fin. Express4 papersYesterday 4:44 PM

Kalpataru Projects secures orders worth Rs 2,225 crore in India, overseas markets

Kalpataru Projects International Ltd has announced securing new orders valued at approximately 2,031 crore in its T&D business. This includes an order for around Rs 194 crore from its subsidiary in Sweden.

ET·BS·BusinessLine3 papers11:31 AM

Kalpataru Projects bags Rs 2,225 crore orders, FY27 inflows cross Rs 20,000 croreFin. Express

AI job-loss fears are 'hogwash', says Infosys Chairman Nandan Nilekani

While tasks such as coding can increasingly be handled by artificial intelligence, other roles will emerge to manage the technology's deployment and its risks, Nilekani said…

BS·BusinessLine2:25 PM

Fridges in French supermarkets hit by cyber attack

Hundreds of stores were targeted by the overnight hack, which spoiled fresh and frozen food estimated to be worth millions of euros.

BBC·FT12:01 AM

Also in Companies & Deals

World

15 stories

Earthquake of magnitude 6.1 jolts southern Panama days after major quakes

A preliminary magnitude 6.1 earthquake hit southern Panama Monday evening, according to the US Geological Survey, but there were no immediate reports of casualties or property damage. The quake struck around 6:20 p.m.

BS·Mint·ET3 papers8:49 AM

US midterms: Iran war, Russia diesel supply deal expose 'growing' divide between Trump, Republicans

Trump faces Republican dissent over the Iran war and his Russian diesel supply deal ahead of the US midterms. Lawmakers have questioned easing sanctions on Moscow and sought limits on Trump’s Iran war powers as rising fuel prices add pressure on the party.

Mint·Reuters1:54 PM

Who is Kimberly Guilfoyle? US ambassador to Greece who could be removed by Trump amid misconduct reports

Trump is considering removing US ambassador to Greece Kimberly Guilfoyle amid misconduct allegations, including seeking money for access to administration figures.

Mint·Reuters·CNBC3 papers8:13 AM

Trump defends Russia diesel deal as lawmakers from both parties complain

Reuters·ETYesterday 8:57 PM

India offers reliability, stability amid global uncertainty: PM Modi

Speaking at the Bloomberg New Economy Forum, PM Narendra Modi pointed to India’s $700-billion forex reserves, sustained reform momentum, and growing green capacity as proof of its resilience against global supply chain shocks.

Mint4:28 PM

Six people killed and 30 injured as passenger train derails in Pakistan's Multan

A passenger train named the Rehman Baba Express derailed in Pakistan's Punjab province, killing around five people and injuring 30. The train derailed near Sher Shah Bridge in Multan.

ET·Mint10:25 AM

Wheel of Idgah-Bandikui MEMU train derails in Rajasthan, no one injuredET

Six Ukrainian energy sites hit by Russia since Trump announced ceasefire, Zelensky says

Despite the US president announcing energy infrastructure would not be targeted strikes have continued, Ukraine says.

BBC·WSJ2:50 AM

Technology

11 stories

Nvidias China AI-chip share falls as Huawei closes gap, report finds

AI-CHINA/CHIPS-NVIDIA (PIX):Nvidia's China AI-chip share fal…

Mint·Reuters·ET3 papers8:02 AM

Microsoft to rely more on homegrown AI chips, reducing dependence on NvidiaCNBC

Banking watchdogs ramp up AI scrutiny as stability fears mount, sources say

AI-REGULATION/BANKS (EXCLUSIVE, PIX):EXCLUSIVE-Banking watchdogs ramp up AI scrutiny as stability fears mount, sources say…

Mint·Reuters·ET3 papers10:31 AM

AI models may soon self-replicate without access to data centers: Anthropic

In its experiments, Anthropic looked at whether AI models could find vulnerable devices, copy themselves into ‌those devices, and continue spreading without human help…

BS·Reuters10:58 AM

New safeguards sharply reduce AI distillation attacks, says Anthropic

Anthropic said it had made it harder to use proxy networks to repeatedly probe Claude's protected reasoning, blocking extraction attempts and hindering large-scale ‌distillation efforts…

BS·Reuters·ET3 papers8:19 AM

Microsoft president says milk faces more regulation than AI

AI-MICROSOFT/SMITH (PIX):Microsoft president says milk faces more regulation than AI…

Mint·Reuters·BBC3 papersYesterday 2:51 PM

Also in Technology

Opinion

5 stories

Who gets to call AI safe?

Digital sovereignty demands sustained investment in sovereign compute, open public infrastructure, and indigenous foundation models.

BusinessLine4:10 PM

When transfer pricing becomes a tax on Global South

The FM is right to push BRICS on transfer pricing. The numbers show why it cannot stop at a communique…

BusinessLine3:06 PM

Best of Opinion: Disruption can't be stopped; resilience lies in response

The real test of a system is not whether it can prevent every disruption. It is whether it has enough buffers, flexibility and institutional capacity…

BS6:15 AM

When AI is subject to less regulation than your fridge, something is startlingly wrong | Richard Hermer

Let’s be clear: the risk to humanity is unprecedented. Without an urgent public debate and robust use of international law, we will lose control of the future In my two years as attorney general, I spent more time working on national security than any other issue.

GuardianYesterday 11:03 PM

The Gulf has entered a new era of instability. If its leaders think they can rely on old alliances, they are wrong | Nesrine Malik

The latest attack by Houthi rebels on Saudi Arabia may prove to be more calamitous for the region than the world imagines On Saturday, Houthi rebels launched a shocking and deadly attack on Saudi Arabia’s capital city, Riyadh.

GuardianYesterday 11:30 AM

Insights

Long reads from McKinsey, BCG, Bain & HBR

McKinsey & CompanyNew

Meesho: Making e-commerce everyone’s business

Scaling an e-commerce start-up in India’s dispersed markets is challenging, but innovation, patience, and passionately solving hard problems have enabled Meesho’s founders to succeed.

5:06 PM

McKinsey & CompanyNew

Asset management 2026: Plenty for the few?

A golden age for the industry is becoming a golden age for a smaller group of asset managers.

5:06 PM

Harvard Business ReviewNew

From the Regulators

Official releases

Reserve Bank of India

US Federal Reserve

Subscriber Desk

Behind a paywall — headline and summary only

The Wall Street Journal

The Morning Risk Report: Trump’s Diesel Deal With Russia Faces Questions From Lawmakers on Legality
Plus: U.K. floats payments for fraud whistleblowers and Delta delays Saudi Arabia plans.
5:00 PM
Europe Heads Into Winter With Low Gas Reserves, Uncertain Gulf Supplies
European natural-gas prices climbed to their highest level in nearly four years as escalating attacks in the Middle East threatened supplies and unusually low storage levels raised fears of a global scramble for LNG.
4:28 PM
This Investing Strategy Is So Good You Can’t Handle It
Plus, it’s bank earnings-palooza.
4:05 PM
Indexed Annuities Boost Private Credit
Some of the best analysis and insight on investing, the wealth-management business and more.
4:02 PM
Dollar Still Considered Overvalued in Latest BofA Survey
The dollar continued to be viewed as overvalued in October’s Bank of America global fund manager survey.
3:55 PM
CSG Sets Sights on Space With Around $434 Million Stake in Canada’s MDA Space
The Czech arms maker became the largest shareholder MDA Space, as it looks to venture into the sector.
3:27 PM

Financial Times

Anthropic warns rogue AI agents may ‘self-replicate’ to hijack everyday devices
Claude maker suggests models could act as ‘worms’ to spread across smart home appliances such as ovens and TVs in future cyber security threat…
3:41 PM
JPMorgan earnings miss expectations as bond trading revenues fall
Wall Street banks expected to report worst trading results of year following record second quarter…
3:12 PM
Investors brave US Treasury rout to lock in highest yields in decades
Government bond funds are attracting record inflows as borrowing costs hit their highest level in decades…
9:30 AM
The elections that could remake Europe
In the space of 12 months, four of the five biggest EU member states will go to the ballot box. The bloc may never be the same…
9:30 AM
Why Trump is going for Zelenskyy’s jugular
No matter how much America’s allies urge the president to back Ukraine, he cannot forgive its leader for showing up his dealmaking impotence…
9:30 AM

Bloomberg

DGB Is Said to Offer Ethan Allen CEO a Non-Board Advisory Role
DGB Investments is preparing to offer an olive branch of sorts to the head of Ethan Allen Interiors Inc. as the activist seeks to replace the furniture company’s board and chief executive officer.
4:30 PM
Billionaire Kotak Says India Should Let Rupee Find Its Own Level
Billionaire banker Uday Kotak said India should allow its currency to find its own footing, arguing that uncertainty over policymakers’ intentions can keep markets guessing as global capital flows shift.
4:23 PM
Kalshi's Top Inflation Trader Beats Wall Street Banks From His Garage
A former theater director has found an unlikely – and highly profitable – niche on Kalshi…
4:15 PM
UAE: Man City Verdict Won’t Impact UK Deals, Mubadala Executive Says
Waleed Al Muhairi, group deputy chief executive officer at Mubadala Investment Co., downplayed concerns that the historic ruling against Manchester City Football Club would deter investments into the UK.
4:13 PM

The Economist

A Nobel prize for how to keep economies on an even keel
Two “New Keynesians”, Robert Hall and Michael Woodford, win the highest honour in economics…
Yesterday 9:59 PM

The New York Times

Chip Stocks Tumble on A.I. Spending Fears and Rising Chinese Competition
South Korean stocks tumbled in particular, as reports of a breakthrough by a Chinese chip rival heightened concerns about competition.
3:25 PM
The Forces Driving Up Bond Yields Take a Troubling Turn
Some analysts say investors are demanding a higher “term premium” to buy government debt, reflecting growing worries about debt levels and deficits.
2:32 PM
How Two Crypto Billionaires Are Making British Politics More American
A pair of low-profile entrepreneurs gave $100 million to Nigel Farage’s Reform U.K. Party. The system may never be the same.
2:30 PM
States Now Have to Decide How to Spend Meta’s Settlement Billions
Previous agreements with the tobacco and opioid industries show the difficulty of putting the money in the right hands.
2:30 PM

MarketWatch

Six Flags’ stock slumps near 52-week lows after fatal accident
A fatal accident on a Six Flags Entertainment roller coaster sent shares of the amusement-park operator near the lowest level of the year.
5:01 PM
U.S. wealth has shifted to stocks from homes. There are big reasons to worry.
The four-year bull market in stocks is riding high because of the AI boom. But it’s also increasing the cost of money.
5:00 PM
Why the world’s No. 1 fund manager has just changed its mind on bonds for the first time in six years
After six years, BlackRock finds opportunities in government bonds.
4:58 PM
‘The house is worth $925,000’: My sister moved in with our mother, 78, and says she deserves the family home. Is she right?
“The house is worth $925,000 and mom owns it outright. She also has $480,000 in investments.”
4:45 PM

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Govt picks 19 fund managers for ₹1 trillion RDI scheme
The first cohort includes 14 alternative investment funds and five research organisations, with ₹7,131 crore in commitments approved amid scrutiny of the scheme’s selection process.
Mint·1:54 PM
How much gold can be kept in home w/o tax issue
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Should you wait for FD rate hike or invest now?
ET·2:43 PM
₹ & LTCG: 2 points from FM that changed the mood
ET·2:22 PM
No need to pay UPI charges till Diwali celebrations
ET·1:28 PM

Top gainers

Top losers

CFA Level I

GDP & the business cycle

Earnings & margins

Systematic risk

CA · ICAI

Leases on the balance sheet

Hedging currency risk

Dividends & buybacks under the Act

Also in Markets

Also in Economy & Policy

Also in Companies & Deals

Also in World

Also in Technology

Reserve Bank of India

US Federal Reserve

The Wall Street Journal

Financial Times

Bloomberg

The Economist

The New York Times

MarketWatch

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