💹 *Daily Business Briefs | Fri, 09 Oct 2026*

_Markets open today_

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

📊 *ECONOMY & POLICY*

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🏦 *PSU banks pass on RBI rate hike*

PNB, Bank of Baroda and Indian Bank raised repo-linked lending rates after the RBI lifted the repo to 5.50%.

Floating-rate borrowers see EMIs rise first; watch for MCLR resets and deposit-rate moves next.

📎 _Read: NiftyTrader_

Stocks to Watch Today, Oct 8: RBI Hike Hits Bank Lending Rates; TCS, Ola, Adani and Tata Steel in Focus

_(substituted — Business Standard article could not be opened; verified via NiftyTrader, which does not state the size of the hike)_

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🏢 *COMPANIES*

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

💻 *TCS Q2 profit jumps 15%; AI revenue hits $3.1 bn*

Net profit rose 15% to Rs 13,884 crore on revenue up 11.2% to Rs 73,188 crore, with TCV at $9.6 bn and a Rs 12 second interim dividend.

Annualised AI revenue crossed 10% of total revenue for the first time, and net headcount rose by 4,258.

📎 _Read: Upstox_

https://upstox.com/news/market-news/earnings/tcs-q2-fy-27-ai-revenue-hits-3-1-billion-crosses-10-of-total-revenue-check-two-key-deals/article-201538

💰 *TCS signs Porsche AI centre, Best Buy GCC deals*

A five-year Porsche AG partnership includes an AI Mobility Centre of Excellence, and TCS will take over Best Buy’s India global capability centre.

Management calls these a new category of transformation partnership, adding to deal momentum alongside the Rs 9.6 bn TCV.

📎 _Read: Upstox_

https://upstox.com/news/market-news/earnings/tcs-q2-fy-27-ai-revenue-hits-3-1-billion-crosses-10-of-total-revenue-check-two-key-deals/article-201538

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🌍 *GLOBAL & WORLD*

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

📉 *US suspends 8 IT firms from PERM programme*

The US Labor Department suspended TCS, Infosys, Wipro, HCL, Cognizant and Capgemini, plus Microsoft and Adobe, with no new or pending PERM applications to be processed.

It raises green-card sponsorship and retention risk for Indian IT, which is in focus on Friday.

📎 _Read: Business Today_

https://www.businesstoday.in/technology/story/setback-for-it-giants-us-suspends-infosys-tata-wipro-hcl-cognizant-as-vance-targets-h-1b-abuse-560529-2026-10-08

_(substituted — Business Standard article could not be opened; verified via Business Today)_

💡 *Nasscom: PERM curbs hit one pathway, not mobility*

Nasscom said the suspension affects a specific immigration pathway and that immigration and skilled-talent mobility are distinct issues.

It stressed Indian tech firms comply with local laws and noted that relatively few employees move from H-1B to permanent residency through PERM.

📎 _Read: Deccan Herald_

https://www.deccanherald.com/business/companies/tech-companies-will-adhere-to-applicable-regulations-in-the-us-nasscom-4175768

_(substituted — businessline.com blocks direct access; verified via Deccan Herald)_

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬