Editor’s Picks Newsletter

August 10, 2026

Moneycontrol cuts through the clutter and brings you the best of our exclusive stories, market-moving coverage and must-read perspectives in this specially curated Newsletter.

Dear Reader,

The market saw some stability today but questions around the new closing auction mechanism (CAS) are yet to be settled. Brajesh Kumar reports that regulator Sebi is probing whether trades executed during the August 3 and 4 closing auction session were manipulated. The exchanges have shared trading data with the regulator, which is examining whether the unusually wide gap between pre- and post-CAS index levels was the result of attempts to manipulate closing prices.

India remains on a strong growth path, but 16th Finance Commission Chairman Arvind Panagariya says the next leg of the country’s growth will depend on whether India can make it easier to invest and compete. In a wide-ranging conversation with me and Surojit Gupta, Panagariya said he expects India’s growth will touch at least 7% but argued that India must dismantle what he called its ' Permission Raj ', lower tariffs and expose local businesses to greater international competition. For his full interview, where he pushes for regulatory reforms, arguing that India still remains a difficult place for foreign investors, click here. Or see the full video her e.

On the wider economy, the numbers seem to back Panagariya’s confidence in the Indian economy. Moneycontrol’s Advance Business Index edged up to a five-month high of 103.4 in July, with stronger fuel demand, rural activity and coal offtake keeping the economy above trend, though manufacturing and services PMIs, e-way bill generation and job growth lost momentum.

With a merchant discount rate (MDR) on UPI payments looking increasingly imminent, Bhavya Dilipkumar and Anand J report that the charge could raise processing costs for brokers, wealth managers and mutual fund distributors, potentially cutting their margins by as much as a third. Aryaman Gupta reports that e-commerce and consumer internet companies are also preparing for higher costs. Columnist Prosenjit Datta argues that charging for UPI was eventually inevitable given the cost of maintaining the infrastructure. Anu Tiwari, Shatrajit Banerjee and Harsh Unhavane of Cyril Amarchand Mangaldas estimate that MDR could unlock Rs 5,000-10,000 crore a year for the UPI ecosystem by FY28.

Ahead of Tata Sons' August 18 annual meeting, the Tata Trusts are scrambling to move past legal troubles. Deborshi Chaki reports that the Sir Ratan Tata Trust (SRTT) has written to the Maharashtra Charity Commissioner seeking urgent relief from an order restraining it from holding meetings. SRTT, one of the two principal Tata Trusts and a major shareholder in Tata Sons, argued that its inability to convene trustee meetings is affecting its philanthropic activities and its ability to participate in key decisions at Tata Sons.

Leading FMCG companies are stepping up advertising and promotional spending ahead of the festival season, even as they rethink how marketing budgets will be deployed in an increasingly competitive quick-commerce market, report Akshara Srivastava and Aishwarya Nair.

Dabur is pushing back after being ordered to stop selling 11 of its flagship products. Aishwarya Nair and Akshara Srivastava write that Dabur has accused the Food Safety and Standards Authority of India (FSSAI) of favouring certain manufacturers. The company said the order has put inventory worth Rs 150 crore at risk.

Capri Global Capital is exploring a fundraising of as much as $550 million through a mix of primary and secondary shares. Ashwin Mohan reports that the retail-focused non-bank lender is looking to bring in a marquee private equity investor or sovereign wealth fund as it scales its lending business. The company has hired Citi and Jefferies as advisors.

India's energy security is another story worth watching. Arunima Bharadwaj reports that India is unlikely to cut its Russian crude purchases in the near term despite the threat of US sanctions, with Russia currently accounting for more than half of the country’s oil imports. Also read Arunima’s piece on how the Arctic is emerging as an alternative trading route with many companies switching from conventional shipping routes.

At home, the government is considering another protective measure for industry. Shweta Punj reports that it is weighing a minimum import price of Rs 34,000 a tonne for float glass, a move that could offer relief to local producers such as Asahi India Glass, Saint-Gobain India and Gold Plus Glass.

State-run telecom operator BSNL has proposed a capital investment plan of around ₹77,000 crore over the next five years, with 2 lakh additional 4G sites, network strengthening and 5G rollout in high-traffic and strategic areas, reports Danish Khan.

For those calling the Saudi Arabia-Turkey-Pakistan defence pact an 'Islamic NATO,' Yusuf T. Unjhawala argues that the defence pact is no “Islamic NATO”, lacking integrated military structures, common purpose and credible commitment. However, India should still take seriously the weapons, financial and diplomatic support it could offer Pakistan. Saibal Dasgupta writes that India should still treat the Mecca Pact as a wake-up call to review the present strategic calculus.

And finally, we offer a glimpse of the intrigue behind the headlines. This edition of MC Insider looks at a businessman who was snubbed, tax troubles involving a market participant and the dilemma facing brokers as they navigate the new closing auction regime.

Regards,

Nalin Mehta

Managing Editor

Moneycontrol