The Reserve Bank of India announces its rate on 7 October, the GST Council meets the same day and the Supreme Court hears the medicine-price case on 12 October; only the first is a scheduled decision.
Anup Bagchi becomes managing director and chief executive of HDFC Bank on 27 October for three years, the day after Sashidhar Jagdishan's term ends. The RBI approved the appointment on 1 October, the bank said in a filing.
Nine companies are named in more than one of this edition's six stories. Seven carry a figure in each.
InterGlobe Aviation, which runs IndiGo: interest of ₹6,060 crore in the four quarters to June, 181% of its operating profit; a loss of ₹382 crore before tax in April–June; jet fuel up ₹16 a litre on 1 October; and the highest upper limit in the UPI-fee table, 10.6% of operating profit.
Hindustan Petroleum: a loss of ₹17,446 crore before tax in April–June, and interest twice its operating profit over four quarters. Its loss is inside the group accounts of Oil and Natural Gas Corp., which owns a majority of it.
Oil and Natural Gas Corp.: interest of ₹12,541 crore; its own profit before tax more than doubled in April–June while its group profit fell 59%.
Indian Oil: interest of ₹7,967 crore, and a loss of ₹3,274 crore before tax in April–June.
Reliance Industries: the largest interest bill, ₹28,362 crore; ₹12,000 crore of 10-year bonds sold at 7.9% on 30 September; and a fuel-retail venture, Jio-bp, that is rationing diesel.
Medplus Health Services: 26 paise kept on each rupee of sales after the cost of goods, against the 13.8 paise a 16% markup would leave; and an upper limit under the UPI fee of 7.4% of operating profit.
State Bank of India: a one-year loan benchmark of 8.70% since December, and an official's statement that the bank could make a surplus from the UPI fee.
The other two are among the 54 companies in the lead story with no operating profit to set against interest. Shree Renuka Sugars, with ₹725 crore of interest, lost ₹768 crore before tax in the four quarters to June in the sugar story. Aditya Birla Fashion and Retail, with ₹539 crore of interest by Kiwaro's calculations, shows an operating loss in the UPI-fee table.
Settled in the past week: the government said on 25 September that it plans to sell ₹7.86 lakh crore of bonds between October and March; the export tax-refund schemes RoDTEP and RoSCTL were extended on 30 September to 31 December; and jet fuel rose ₹16 a litre to ₹137 on 1 October.
| Date | What happens | The figure it bears on |
|---|---|---|
| Sat 3 October | SEBI stops taking comments on how derivatives settle at expiry | BSE's ₹3,134 crore of equity-derivative fees, 70% of its operating revenue (closing auction) |
| Sat 3 October | A central team visits Karnataka to assess drought | Food inflation, 5.95% in August (sugar and food prices) |
| Mon 5 October | The RBI's Monetary Policy Committee begins a three-day meeting | The policy rate, 5.25% (borrowing costs) |
| Wed 7 October | The committee announces its decision | The ₹3.5 lakh crore interest bill of 1,078 listed companies (borrowing costs) |
| Wed 7 October | The next weekly Treasury-bill auction; they have fallen on Wednesdays in our record | The government's one-year cost, 6.18% on 30 September (borrowing costs) |
| Wed 7 October | The GST Council meets. Government sources hope it takes a view on the 18% tax on the UPI fee and also say rate changes are not on the agenda | The 0.472% cost of the fee with tax (UPI fee) |
| Wed 7 October | China's holiday ends; its refiners' fuel exports are suspended for October | Diesel supply to the three state retailers (fuel) |
| Wed 7 October | The US Treasury sells $39 billion of 10-year notes | The US 10-year rate, 5.24% on 1 October (borrowing costs) |
| Thu 8 October | Tata Consultancy Services reports July–September, opening the results season | |
| Mon 12 October | The Supreme Court hears the medicine-price case again | KIMS's ₹1,202 crore of pharmacy income, 31% of revenue (medicine prices) |
| Mon 12 October | HCL Technologies reports | |
| Thu 15 October | UPI's 0.4% fee on merchant payments above ₹2,000 takes effect | NPCI's first-year aim, ₹13,000 crore to ₹15,000 crore (UPI fee) |
| Thu 15 October | The 100-tonne limit on sugar dealers' stock takes effect, and the quota for the first half of October ends | Twelve mills' ₹1,024 crore of profit on ₹44,269 crore of sales (sugar) |
| Thu 15 October | The current fortnight for export levies on diesel and jet fuel ends | ₹16 a litre on diesel, ₹10.50 on jet fuel (fuel) |
| Thu 15 October | The day of the month on which State Bank of India's loan benchmark has changed in our record | 8.70% since December (borrowing costs) |
| Around 15 October | Cane crushing is expected to begin in Maharashtra; around 20 October in western Uttar Pradesh | Mills' stock, ₹7,268 crore at five of them on 31 March (sugar) |
| Tue 20 October | The India–New Zealand trade agreement comes into force. Dussehra | |
| Fri 23 October | Infosys reports | |
| Tue 27 October | Anup Bagchi takes over at HDFC Bank | |
| 27–28 October | The US Federal Reserve meets | The US 10-year rate (borrowing costs) |
| Fri 30 October | Comments close on the draft Petroleum (Amendment) Bill | Civil penalties of up to ₹2.5 crore for a first licence breach (fuel) |
| Sat 31 October | Russia's ban on diesel exports runs to this date | Diesel supply (fuel) |
| Mon 30 November | The sugar stock limit ends | (sugar) |
| Tue 15 December | The date by which the rules of the small-merchant fund under the UPI fee are due | 5% of the fee's collections (UPI fee) |
Data note: Dates are as announced by the bodies concerned or as reported by Business Standard, the Economic Times, Mint and BusinessLine; where a date is expected rather than fixed, the entry says so. The Treasury-bill and State Bank of India entries are drawn from the pattern in Kiwaro's record, not from an announcement, and 15 December is three months from NPCI's notice of 15 September. Company figures are those of the six articles in this edition, counted as described there.
