News Nook: Feb 9, 2026

Indian Sector Specific News:

A) BFSI:

1) PSU Banks Set to Cross ₹2 Lakh Crore Profit in FY26

• Public sector banks like SBI, PNB and Bank of Baroda are doing very well financially and together are expected to earn more than ₹2 lakh crore profit in FY26, showing strong growth and stability.
• Bad loans are at a record low, deposits and loans are growing steadily, and the government may allow more foreign investment in PSU banks to make them even stronger.
• Source: Upstox

2) SEBI Clarifies Governance Reporting Rules for PNB

• SEBI has told Punjab National Bank that the quarterly corporate governance report must be placed before the full board of directors and cannot be handled only by a committee.
• Even if RBI rules allow some work to be delegated to board committees, SEBI’s stock market rules are separate and must be followed fully by all listed banks.
• Source: Business Today

3) Elevate Campuses Gets SEBI Nod for ₹2,550 Crore IPO

• SEBI has approved Elevate Campuses’ plan to raise ₹2,550 crore through an initial public offering (IPO), which will help the company expand student housing and education infrastructure across India.
• The IPO is entirely a fresh issue of equity shares — no existing shares are being sold — and funds will be used for acquisitions (especially K-12 schools), paying down debt, and supporting growth.
• Source: The Economic Times

4) IIFL Gets SEBI Approval for GIFT IFSC Subsidiary

• SEBI has approved IIFL Capital Services to set up a wholly owned subsidiary in GIFT IFSC, India’s international financial hub.
• The new entity will focus on global investors, cross-border investments, and international financial services while following strict regulatory rules.
• Source: PTI via Rediff Money Desk

B) Automobile:

1) Mundra Port Sets Record in Auto Exports and Liquid Cargo

• Adani’s Mundra Port achieved its highest-ever automobile exports in January 2026 by shipping over 25,700 vehicles, showing strong global demand for Indian-made cars.
• The port also handled a record amount of liquid cargo and set a new single-ship loading record, highlighting its growing role in supporting India’s trade and exports.
• Source: Economic Times

C) Pharma:

1) US Market Weighs on Indian Pharma Performance in Q3

• Indian pharmaceutical companies faced weak performance in the US market during Q3 due to lower medicine prices and tough competition.
• Experts say price pressure in US generic drugs may continue for some time, so near-term recovery looks difficult despite new product launches.
• Source: Business Standard

2) Lupin Gets GMP Certificate from Japan Regulator

• Japan’s drug regulator PMDA has issued a GMP certificate to Lupin’s Mandideep Unit II facility, confirming it meets global manufacturing quality standards.
• The inspection found no major issues, helping Lupin strengthen its presence and credibility in the Japanese pharmaceutical market.
• Source: Company release – Lupin Limited

D) Agriculture:

1) Rethinking India’s Fertilizer Subsidy Model

• India’s cheap urea policy has helped farmers for decades, but it has also led to excessive use of nitrogen, poor soil health, and rising government subsidy costs.
• Experts argue subsidies should not be removed but redesigned to promote balanced nutrient use, better soil outcomes, and sustainable farming instead of encouraging overuse.
• Source: Policy Edge

2) India-US Trade Deal Safeguards Farmers, Says Agriculture Minister

• Union Agriculture Minister Shivraj Singh Chouhan said the India-US interim trade deal fully protects Indian farmers, with no harmful or sensitive farm products included.
• He clarified that there are no tariff cuts on key agricultural items and India will not allow genetically modified products, dismissing Opposition claims of risk to farmers.
• Source: NewsONair

E) Energy:

1) Gujarat Restructures Gas Sector Under Gujarat Gas Ltd

• Gujarat has merged its major gas companies into Gujarat Gas Ltd, dissolving GSPC and consolidating gas trading and city gas distribution to create a stronger, more efficient energy player.
• The restructuring aims to improve profitability, reduce internal transactions, use tax benefits effectively, and clearly separate gas transmission into a focused entity (GTL).
• Source: Mondaq

2) In US Trade Deal Push, Indian Refiners Cut Back on Russian Oil

• Indian refiners — including major state and private companies — are pausing or reducing purchases of Russian crude for April deliveries as New Delhi moves closer to finalizing a trade agreement with the United States, which could lower tariffs and deepen economic cooperation.
• While India has not officially banned Russian oil imports, purchases have fallen sharply from 2025 levels, with increased sourcing from Middle East, Africa and South America as refiners diversify supplies amid geopolitical shifts.
• Source: Economic Times

Indian Economy and Government Initiatives:

• The government has proposed tighter tax and reporting rules for foreign digital companies by refining the “significant economic presence” definition, mandating local electronic record-keeping, and bringing digital activities and CBDC formally into the income-tax framework.

Indian Stock Market Update:

• After Budget 2026 and RBI policy decisions, markets are in a consolidation phase, with focus shifting to capex execution and actual spending.
• Last week, gold and silver prices fell sharply, causing losses for investors in precious metals.
• In contrast, the stock market surged and generated gains of ₹4.55 lakh crore for investors, with Reliance Industries emerging as the top performer.