💹 *Daily Business Briefs | Tuesday, 21 Jul 2026*

_Markets open today_

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📊 *ECONOMY & POLICY*

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📉 *Brent crude tops $90 as US-Iran strikes go on*

Oil extended its July rally past $90/bbl, up 20%+ in two weeks, after a ninth straight night of US strikes on Iran following the collapse of an interim ceasefire.

Analysts warn Brent above $95 could push the rupee to fresh record lows — a direct hit to India’s CAD and import bill.

📎 _Read: TradingEconomics_

https://tradingeconomics.com/india/currency

📉 *Rupee near record low at 96.42/USD*

The rupee weakened 12 paise in early trade Monday as Brent jumped over 2% on the worsening West Asia crisis and importer dollar demand.

RBI is intervening in spot and NDF markets to cushion the fall; forex reserves rose $964 mn to $675.15 bn the same week.

📎 _Read: HDFC Sky / PTI_

https://hdfcsky.com/news/rupee-falls-12-paise-to-96-42-against-us-dollar-in-early-trade

🏦 *Govt: no proposal to scrap LTCG tax on equities*

Minister of State for Finance Pankaj Chaudhary told the Lok Sabha there’s no move under consideration to abolish the 12.5% LTCG tax on equities, same rate for domestic and FPI investors.

Govt collected ₹1.29 trillion in LTCG tax in FY25, nearly double FY24 — any future dilution would be a Budget-cycle call, not an in-session one.

📎 _Read: Business Standard_

https://www.business-standard.com/economy/news/govt-says-no-proposal-under-consideration-to-remove-ltcg-tax-on-equities-126072001156_1.html

📈 *Core sector growth hits 5-month high of 5% in June*

Nine core industries (iron ore now added) grew 5% YoY in June under a revised 2022-23 base year series, up sharply from 3.2% in May.

Iron ore, electricity and cement led the gains — a positive lead indicator for July’s IIP print.

📎 _Read: Business Standard_

https://www.business-standard.com/economy/news/india-s-core-infrastructure-sector-growth-hits-5-month-high-of-5-in-june-126072000932_1.html

🤝 *Trump imposes 50% tariffs on Canadian autos, dairy, alcohol*

Trump signed three proclamations under Section 338 of the Tariff Act, framed as retaliation for “continued discrimination” by Canada; duties take effect in 30 days pending further talks.

Oil and potash are exempted; USMCA renewal talks remain unscheduled — a global trade-friction data point relevant to India’s own tariff negotiations with Washington.

📎 _Read: Yahoo Finance_

https://finance.yahoo.com/economy/article/trump-announces-50-tariffs-focused-on-canadian-autos-dairy-and-alcohol-in-response-to-continued-discrimination-211628074.html

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🏢 *COMPANIES*

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✈️ *IndiGo signs record 1,000+ engine order with CFM*

IndiGo inked an MoU at the Farnborough Airshow for 1,000+ LEAP-1A engines to power 510 Airbus A320neo-family jets — the largest single order in LEAP program history.

Deal also covers long-term material services and support for IndiGo’s new engine MRO facility in Bengaluru; financial terms undisclosed.

📎 _Read: Business Standard_

https://www.business-standard.com/industry/aviation/indigo-to-place-order-for-over-1k-aircraft-engines-with-cfm-international-126072001350_1.html

⚡ *Ford, Tamil Nadu govt advance Maraimalai Nagar engine revival*

Ford’s ₹3,250 cr next-gen engine manufacturing plan for its dormant Chennai plant continues to progress with the state government, targeting ~235,000 engines/year for export markets, production expected from 2029.

Move creates 600+ direct jobs and comes even as US-India tariff friction persists — a case study in India retaining export-manufacturing relevance despite trade tension.

📎 _Read: Deccan Herald (BusinessLine blocked direct fetch — substituted)_

https://www.deccanherald.com/amp/story/business%2Fcompanies%2Fford-to-revive-chennai-plant-to-manufacture-powertrains-3781465

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_Compiled by InvestoScope · 21 Jul 2026_