TCS attrition and governance scrutiny widen to the US Senate and an EEOC probe Information Technology
Senior-executive attrition at TCS has run near 16% over eight months against a historical 4-5% rate, with 300+ of the top ~1,800 executives departing amid layoffs and AI-led restructuring. Beyond Karnataka's government seeking an explanation over the ~12,000-role layoff plan, US Senate Judiciary Committee leaders have now raised concerns and TCS faces a separate EEOC probe over alleged age/national-origin discrimination in the cuts. Nothing found suggests the scrutiny is normalizing -- it has broadened, not eased.
US finalizes the 2028 generic-drug tariff cliff: 0% now, 100% from 2028, 200% from 2029 Pharmaceuticals
The Trump administration's Section 232 rule confirms a phased tariff schedule on imported generic medicines -- duty-free until August 2028, then a 100% tariff for a year, rising to 200% from August 2029 unless production relocates to the US. India supplies roughly half of US generic drug volumes, so the step-up is a real, scheduled multi-year risk for exporters like Sun Pharma, Lupin, Aurobindo, Dr Reddy's and Cipla, not a deferral that industry reassurance will make disappear.
NALCO's alumina tailwind starts to unwind as Alunorte restores output Metals & Mining
Norsk Hydro's Alunorte refinery, whose 50%-capacity cut in early August sent NALCO shares up as much as 8.8-9% on tighter alumina supply, has already begun restoring production after reaching a temporary gas-access agreement -- one report notes the recovery is now pressuring Indian aluminium shares. The alumina market itself is estimated in surplus, so the durability of NALCO's margin tailwind looks weaker than the initial spike suggested.
BHEL's order book gets fresh support ahead of a pending HOLD-to-BUY call review Energy & Power
BHEL's order book stands at roughly Rs 2.4 lakh crore, up 22% YoY and over seven times trailing revenue. In the days before this session, BHEL signed a supply agreement with Norway's Hystar for PEM electrolyser systems and received a credit-rating upgrade from India Ratings -- concrete support for the desk's pending BHEL HOLD-to-BUY call flip, even as Brent's climb past $90/bbl on Strait of Hormuz tensions remains a live overhang for the wider ENERGY sector.
Festive-season car discounts stay as deep as ever, muddying the demand-upcycle story Automobiles
Maruti is running discounts up to Rs 1.55 lakh across its range even as the festive season approaches, and industry-wide mass-market discounts of Rs 40,000 to over Rs 1 lakh are described as 'almost similar' to last year, not stepping down. That is the first concrete data point since the July volume-upcycle claim opened to lean toward the bear case that recent strength is discounting-led rather than a clean demand inflection.