31 May 2016 | Today’s Latest and Top 10 Business News of India

On May 31, 2026

TEN NEWS NETWORK

India News (31/05/2026) 1. Stock Market Crash: Sensex Drops 1,092 Points
Dalal Street witnessed sharp selling pressure as the BSE Sensex tumbled 1,092 points, with the Nifty 50 dropping 1.5% to close at 23,547. The massive downturn was triggered by a combination of weak monsoon forecasts, aggressive Foreign Institutional Investor (FII) selling throughout the month, and escalating macroeconomic anxieties surrounding the ongoing geopolitical friction in West Asia.

2. Banking Shift: RBI Introduces Expected Credit Loss (ECL) Framework
The Reserve Bank of India has initiated a structural banking reform by transitioning from the traditional “incurred loss” model to the Expected Credit Loss (ECL) framework. Banks will now be required to provision for future potential credit defaults using a forward-looking, three-stage classification approach. While analysts expect this to strengthen long-term banking stability, it is anticipated to put temporary pressure on the short-term profitability of Public Sector Banks (PSBs).

3. Axis Bank Secures $500 Million Syndicated Loan Amid Stock Decline
Axis Bank successfully raised a $500 million offshore syndicated loan arranged by MUFG to enhance its liquidity buffer. However, the bank’s stock still declined by nearly 2%. Investors remained highly cautious due to broader banking headwinds, including rising funding costs across the sector and relatively sluggish domestic deposit growth.

4. Adani Shifts Focus to AI-Driven Infrastructure Boom Following recent developments, the Adani Group announced that its major legal hurdles in the US are now behind it. The conglomerate plans to aggressively pivot toward high-growth digital infrastructure, betting heavily on the burgeoning AI-driven data center boom across India.

5. Noel Tata Sets Bold 10x Revenue Target for Trent Ltd Trent Ltd, the retail arm of the Tata Group, continues to be a major favorite on the index. Noel Tata highlighted that the company is still in its early hyper-growth phase and has outlined an ambitious long-term roadmap aiming for a 10x expansion in its top-line revenue through aggressive brand scaling.

6. Wipro Stock Surges 5% on “Agentic AI” Expansion In contrast to the broader market rout, Wipro emerged as a major gainer, climbing 5%. The rally came after the IT major announced an expanded, deep-tech partnership with ServiceNow aimed at scaling enterprise-level “agentic AI” workflows, giving the NIFTY IT index a brief pocket of optimism.

7. CCD Stages a Massive Turnaround as FY26 Revenue Crosses ₹1,094 Crore
Cafe Coffee Day (CCD) has brewed a noticeable financial comeback. The iconic Indian café chain reported that its revenue for the fiscal year has successfully breached the ₹1,094 crore mark, showing strong signs of operational revival and brand recovery following years of debt restructuring.

8. Government Exempts Import Duty on Cotton to Rescue Textile Sector
To address the severe raw material input inflation hitting domestic manufacturers, the Central Government announced a total waiver of customs duty on cotton imports. The exemption comes into effect immediately and will run through October 30, providing much-needed relief to India’s squeezed textile exporters.

9. Ola Electric Rallies 102% From Its 52-Week Low Ola Electric shares recorded high trading volumes, touching a 4-month high. The stock has now officially doubled from its yearly lows, continuously driven upwards by expanding monthly electric two-wheeler registration numbers and positive EV adoption sentiments across the country.

10. MCA Clears Route for Corporate CSR Funds Into Social Stock Exchange
The Ministry of Corporate Affairs (MCA) cleared a vital funding channel for the National Stock Exchange’s (NSE) Social Stock Exchange. Under the new guidelines, India’s top corporate entities will now be allowed to seamlessly route their statutory Corporate Social Responsibility (CSR) funds directly into listed non-profits and social enterprises.