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Mumbai: Maruti Suzuki India catapulted into the top league of the world's most valuable automakers, climbing to the eighth position globally by market capitalisation, showed data compiled by ETIG.The largest unit of Japan's Suzuki Motor has overtaken global heavyweights such as Ford Motor, General Motors and Volkswagen AG. Maruti Suzuki now commands a market cap of nearly $57.6 billion, surpassing even its Japanese parent.The stock has rallied 25.5% since August, fuelled by improved investor sentiment following the announcement of indirect tax reforms by Prime Minister Narendra Modi on Independence Day.India's largest carmaker, which derives more than 60% of its sales volume from small cars, has been one of the biggest beneficiaries of the revamped GST regime rolled out on September 22. 124138343Maruti's valuation has surged past Ford ($46.3 billion), General Motors ($57.1 billion) and Volkswagen ($55.7 billion), which have either stagnated or slipped in rankings over the past month. The company's market cap is also above that of Suzuki's $29 billion.Tesla continues to dominate the global auto space with a market cap of $1.47 trillion, followed by Toyota ($314 billion), BYD ($133 billion), Ferrari ($92.7 billion), BMW ($61.3 billion) and Mercedes-Benz Group ($59.8 billion). Maruti now sits just behind these global leaders at eighth rank, marking a rare instance of an Indian automaker featuring among the world's top 10.On bourses, Maruti's performance has far outstripped the Nifty Auto index, which has risen about 11% since mid-August. Over the same period, Maruti's shares surged from ₹12,936 apiece on August 14 to ₹16,236 on September 25, recording one of the steepest climbs among frontline auto counters. Brokerage data showed foreign portfolio investors have raised their exposure to Indian auto stocks in recent weeks, with Maruti being a key gainer. The company has also sustained its leadership in the domestic passenger car market, particularly in the compact and entry-level segments that form the bulk of its volumes. Industry trackers noted that the GST reset has particularly benefited small car makers, where Maruti has a dominant share. With cascading levies reduced and affordability improving, sales volumes have rebounded, reinforcing the company's earnings outlook.Maruti is clocking 15,000 bookings every day since the start of the new GST regime coinciding with the Navratri festival, a company executive said earlier this week, adding the company’s small cars are also in high demand. Maruti delivered 30,000 vehicles on Monday, the first day of Navratri. As global automakers contend with supply chain constraints, cost pressures, and the capital-intensive transition to electric mobility, Maruti’s rally highlights the momentum of India’s passenger vehicle market, now among the fastest-growing worldwide.

Even as banks tread cautiously on personal loan disbursements, non-bank lenders are rapidly capturing market share in the segment.According to data from credit bureau CRIF and brokerage house Nomura, NBFCs' share in new personal loan originations by value rose to 41% as of June 2025 from 27% two years earlier. In terms of volume, their share surged to 92%, driven largely by new-age fintech NBFCs that leverage technology to provide financial services, from 82% in June 2023.During this period, the share of both state-run and private sector banks in new personal loan originations by value fell to 28% each, compared with 34% earlier for both. In terms of volume, the share for banks fell to 4% from 10%. 124131057The personal loan market is now estimated at over ₹15 lakh crore. These loans are commonly used to cover expenses such as medical emergencies, weddings, vacations and home renovation."With the rise in funding costs for NBFCs, they have aggressively entered high-yielding segments like personal loans and consumer durables while banks have vacated the space due to worries over high credit costs," said Prakash Agarwal, partner at consulting firm Gefion Capital. "Banks are continuing to grow in the high-ticket personal loan space which is very niche, consolidating their market share."While banks offer lower interest rates to borrowers with strong credit profiles, NBFCs are more flexible in their lending criteria, making them a viable option for people who may not meet all the eligibility requirements.HDFC Bank offers personal loans with interest rates ranging from 10% to 24%, while ICICI Bank levies 10.60-16.50% and Axis Bank charges 10-21%. Some NBFCs offer starting rates that are on par with banks, making them competitive despite their higher upper limits. Among NBFCs, Bajaj Finance levies 10-31% and Tata Capital between 11.50% and 30%, while L&T Finance's rates start at 11%. In terms of asset quality, the personal loan portfolio at risk (PAR) between 31 and 90 days was 2.1% for NBFCs at the end of June 2025, marginally higher than 2% in June 2023. For private sector banks, the metric remained 1%, while for state-run banks, it inched up to 2.2% from 2.1%.By ticket size, PAR for loans below ₹1 lakh was 2.3% for the credit industry at the end of June 2025, improving from 2.7% two years earlier. For loans above ₹10 lakh, it was 1.5% compared with 1.6% in June 2023. "With banks cutting down on the lower-ticket-size segment, NBFCs are gaining market share driven by small-ticket-size personal loans," said JM Financial analyst Ajit Kumar. NBFCs are also gaining share in consumer durable loans, he said. Private banks' disbursements by value fell 28% from a year earlier as of end-June, while those of NBFCs rose 15%.

In early August, Chris Woakes, who had dislocated his shoulder, walked out to bat with his arm in a sling. He was even ready to take strike in a left-hander’s stance because England needed just 17 more runs to win the fifth Test against India. Mercifully, Woakes did not have to face a ball. But the act of simply being out there, running between the wickets despite grimacing in pain, was unforgettable. India went on to clinch a narrow win, but Woakes’s courage made the cricketing world pause. Cut to the end of September: England’s Ashes squad was announced. Rob Key, the director of cricket, bluntly said that Woakes “isn’t in our plans at the minute… at all.” At 36, Woakes was nearing the twilight of his career, but the decision still stung. A similar fate now seems to be unfolding for India’s Mohammed Shami. Ajit Agarkar, India’s chairman of selectors, wasn’t as blunt as Key, but Shami’s absence from the squad for the two home Tests against the West Indies suggested the same reality. Shami, who has battled injuries throughout his career, is once again on the recovery trail. He turned up in the Ranji Trophy for Bengal, claiming 7 wickets against Madhya Pradesh, and also featured in the Duleep Trophy. But this wasn’t enough for a recall. “He played a match in the Duleep Trophy, but he’s not had a lot of cricket for the past 2-3 years,” Agarkar said, adding that while everyone knows Shami’s ability, “he will need to play some cricket” before being considered again. At 34, almost the same age as Woakes, Shami has picked up 229 wickets from 64 Tests. Yet, it now looks increasingly unlikely that he will get the chance to add to that tally. What made Shami special was not a single trademark delivery — no extravagant outswinger, brutal bouncer, or deadly yorker — but the subtle millimetres of movement and razor-sharp precision. At his best, he was poetry in motion: light on his feet, devastating in rhythm, and relentless in accuracy. He read conditions better than most, adjusted seamlessly to the match situation, and set batsmen up with clinical patience. For any captain, Shami was priceless. If the pitch had something to offer, he would extract it. If a partnership was building, he would plug one end. He didn’t bowl to impress; he bowled to take wickets, visualising dismissals before they happened. And yet, cricket is as much about transition as it is about legacy. Injuries are part of the game, and the rise of young, hungry pacers is inevitable. India now boast a strong fast-bowling bench. The only way for these youngsters to grow is by playing regularly, though sharing the new ball with Shami would have been the ultimate learning experience. For now, the selectors have moved on. Whether Shami gets another chance remains uncertain, but his contribution as one of India’s most dependable pacers is already etched in memory.India Squad for West Indies SeriesShubman Gill (c), Ravindra Jadeja (vc), Yashasvi Jaiswal, KL Rahul, Sai Sudharsan, Devdutt Padikkal, Dhruv Jurel (wk), Narayan Jagadeesan (wk), Nitish Reddy, Washington Sundar, Axar Patel, Kuldeep Yadav, Jasprit Bumrah, Mohammed Siraj, Prasidh Krishna1st Test: Oct 2–6, Ahmedabad2nd Test: Oct 10–14, New Delhi

Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation's refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela.A delegation visiting the US this week reiterated the request in meetings with American officials, a person with knowledge of the discussions said. Indian representatives have emphasised that simultaneously cutting off Indian refiners' supply from Russia, Iran and Venezuela - all major oil producers - could lead to a spike in global prices, people familiar with the negotiations added.Spokespeople for the commerce and oil ministries, and the US embassy in New Delhi, didn't immediately respond to requests seeking comment.New Delhi's representatives travelled to the US for talks after Washington imposed crushing tariffs on the country in punishment for its oil trade with Russia. Despite the levies, the South Asian nation has maintained its crude imports from the OPEC+ producer, albeit at a lower rate.Commerce minister Piyush Goyal said this week that the country wanted to increase its purchases of American oil and gas, adding that "our energy security goals will have a very high element of US involvement". He made the remarks in New York.Russia was forced to discount its crude after many others shunned trade with Moscow due to the war in Ukraine. Almost 90% of India's oil needs are met by imports, and cheaper Russian barrels have helped to reduce the burden on its import bill. Iranian and Venezuelan oil would also be similarly discounted.