Today’s Top TEN Business News of India

On May 16, 2026

TEN NEWS NETWORK

India News May 16 2026

1. Fuel Prices Hiked Nationwide by ₹3 per Litre After keeping rates steady for a prolonged period, state-run oil marketing companies (OMCs) have increased petrol and diesel prices by ₹3 per litre. In Delhi, CNG prices also climbed by ₹2. Experts warn this hike could trigger an inflationary ripple effect across transport, food, and delivery services, putting pressure on household budgets.

2. Vodafone Idea Swings Back to Profit with Huge One-Time Gain
Vodafone Idea (Vi) reported its Q4 results, posting a massive net profit of ₹51,970 crore, heavily driven by a significant one-time gain. The telecom operator’s revenue also saw a 3% year-on-year increase.

3. Rupee Deepens Slump, Breaching the 96 Mark Against the USD
Driven by the ongoing US-Iran conflict and a surge in global crude oil prices, the Indian Rupee hit an all-time low, breaching the ₹96 per US Dollar mark for the first time. Analysts predict the currency could fluctuate within the ₹96–98 range over the fiscal year.

4. Delhi and Maharashtra Slash VAT on Aviation Turbine Fuel (ATF)
In a major relief to the airline industry, the Delhi government is finalising a plan to cut VAT on jet fuel from 25% down to 7%. This follows a similar move by Maharashtra, which slashed ATF VAT from 18% to 7% to help carriers absorb soaring global fuel costs and keep airfares in check.

5. Charity Commissioner Orders Tata Trusts to Defer Board Meeting The Charity Commissioner issued an ex-parte order directing Tata Trusts to defer its scheduled board meeting to allow for an inquiry into a recent complaint. Tata Trusts issued a statement noting they are reviewing the order but flagged that it was passed without giving them a prior hearing.

6. Markets Brace for Volatility After Fragile Closing Week Dalal Street closed on a highly volatile note, with the BSE Sensex hovering around 75,237 and the NSE Nifty at 23,643. Market experts warn that persistent foreign institutional investor (FII) selling and high global oil prices (Brent crude hovering near $107/barrel) could flag further near-term corrections.

7. Govt Adjusts Trade Levies: Hikes Petrol Export Duty, Cuts Diesel/ATF Taxes The Finance Ministry adjusted its fuel trade policy, increasing the export levy on petrol to ₹3 per litre. Conversely, the ministry reduced export duties on diesel and Aviation Turbine Fuel (ATF) to recalibrate trade dynamics amidst the global energy crunch.

8. Oracle Cuts ~12,000 Tech Jobs in India amid Global AI Pivot Tech major Oracle has reportedly laid off close to 12,000 employees in India. The reduction is part of a larger worldwide workforce restructuring affecting up to 30,000 employees, as the company aggressively pivots resources toward artificial intelligence infrastructure.

9. TCS CEO K. Krithivasan’s Pay Packages Rises 6% in FY26
According to annual filings, Tata Consultancy Services (TCS) Chief Executive Officer K. Krithivasan saw his annual remuneration rise by 6% to ₹28.1 crore for the financial year 2025-26.

10. India Targets $20 Billion Semiconductor Ecosystem Push
Aiming to reduce supply chain dependencies and compete with manufacturing hubs in East Asia, the government is advancing a massive $20 billion semiconductor design and manufacturing push. Educational institutions and engineering hubs are expanding specialized pipelines to prepare an AI and chip-ready workforce.