Walmart-owned PhonePe saw a 40% increase in revenue in FY25, driven by growth in payment services, lending, and insurance. Other services like stockbroking and mutual fund distribution also contributed to the rise. After adjusting for Esop costs, the company reported a profit of Rs 630 crore. It also received final authorization from RBI to operate as a payment aggregator.
The implementation of Goods and Services Tax 2.0 led to a significant consumption boost in the market, but the 20-fold hike in H1-B fees caused a 0.5% decline in benchmark indices. The Nifty IT Index plunged 2.95%, with the top 10 IT companies losing ₹83,547 crore in market capitalisation. The market sentiment and volatility also saw a spike, with investor wealth eroded by ₹1.24 lakh crore.
India's exports to the US have faced a significant decline of 22.2% between May and August, mainly due to steep tariff hikes on exempt items such as smartphones and pharma. This has led to a reshaping of trade flows, with some products facing 50% tariffs for all countries.
Jaro Education, a top technology management and research institute, has secured Rs 135 crore from anchor investors prior to its IPO. The offering, priced between Rs 846 to Rs 890 per share, will be available for subscription from September 23-25. The IPO consists of a fresh issue of Rs 170 crore and an OFS of Rs 280 crore by promoter Sanjay Namdeo Salunkhe.
The Centre has increased the untied capex loans to state governments, giving more autonomy to efficient states in executing projects of their choice. The move is aimed at accelerating public investments and rewarding states for implementing SNA SPARSH, a mechanism to prevent idling of funds.
The govt approved the release of 2.5 million LPG connections under PMUY during FY 2025-26, bringing the total to 105.8 million. The approved expenditure is ₹676 cr, including ₹512.5 cr for deposit-free connections, ₹160 cr for targeted subsidy, and ₹3.5 cr for project management expenses. PM Modi extended his wishes to beneficiaries, highlighting the scheme's impact on women empowerment.
The Union Minister for New and Renewable Energy has announced a reduction of Goods and Services Tax on the renewable energy value chain, leading to potential savings of Rs 1-1.5 trillion by 2030. This move aims to achieve the target of 500 GW of renewable energy capacity, making it more affordable and promoting domestic manufacturing.
NSUI challenges DUSU presidential polls in Delhi HC, alleging EVM tampering. ABVP's Aryan Maan emerged victorious while NSUI could only win one post. Delhi HC orders DU to preserve EVMs, paper trails, and related documents under lock and key. Petitioners seek quashing of process and fresh election. Petitioners claim "vote theft" and allege EVM manipulation.
The Netflix series The Ba***ds of Bollywood, created by Aryan Khan, is facing legal issues for showing actor Ranbir Kapoor smoking a banned e-cigarette without a disclaimer. The National Human Rights Commission has demanded action against the actors, producers, and Netflix for violating the law and potentially influencing young viewers.
A car carrying five people fell into a waterlogged pothole in Bihar, causing outrage online. Owner Nitu Singh Choubey said it was a "conspiracy to defame the government" as elections are due in the state. No one was hurt, but the incident exposes the authority's lack of responsibility. Netizens are worried about the dangerous condition of the road.
Renault has released a 10th Anniversary Edition of the Kwid hatchback in India, with prices starting at Rs 5.14 lakhs. The limited edition model includes dual-tone exterior colors, yellow accents on the interiors, and improved safety features. Additionally, the standard range of Kwid has been updated with 3-point seatbelts and six airbags in the Climber variants.
The NSE will hold a special Muhurat trading session on October 21 to celebrate Diwali, marking the beginning of a new Hindu calendar year. The session will take place in the afternoon instead of the usual evening time, and a one-hour window will be open for trading. The market will remain closed for regular trading
Tata Motors has introduced the Ace Gold+, a cost-effective diesel option in their Ace lineup priced at Rs 5.52 lakh. Featuring advanced LNT technology, it eliminates the need for DEF and lowers maintenance and operating expenses. Boasting a payload capacity of 900kg and various load deck options, it offers versatility and efficiency for diverse cargo requirements.
The Election Commission of India is visiting Bihar next week to assess preparations for the upcoming assembly elections in October. The final draft roll will be published on September 30 and the polling process may end in October due to festivities. The NDA has 132 members and the opposition has 110. The ECI is also planning a nationwide review of voter rolls.
Jacqueline Fernandez moved the Supreme Court after the Delhi High Court rejected her plea to quash money laundering proceedings in the ₹200-crore Sukesh Chandrashekhar case, arguing she was an innocent victim misled by the conman. The Supreme Court, however, refused to hear her petition immediately, telling her to file a formal appeal later while noting that High Court observations would not prejudice her future relief efforts.
Indian benchmarks closed lower on Monday due to the US government's hike in H-1B visa fees, resulting in a decline in IT stocks and overall market performance. The Nifty 50 and Sensex ended in the red, along with the Nifty Bank. Adani Enterprises saw gains while Tech Mahindra suffered the biggest loss. A buy-on-dips approach is recommended as long as the Nifty stays above a certain level.
IndusInd Bank has named Viral Damania as their new CFO, replacing Santosh Kumar who will remain as Deputy CFO. Damania has extensive experience in banking and professional services, having previously served as CFO for Bank of America India and as a non-executive director for BofA Securities India. The bank has also recently undergone leadership changes
Billionaire Gautam Adani, cleared by SEBI, announces focus on innovation, transparency, and long-term impact. Hindenburg report's allegations caused a selloff and erased $150 billion. Adani credits employees for maintaining momentum during scrutiny and outlines priorities for the future, including transparency, innovation, and transformation.
Elon Musk and Donald Trump set aside their differences at a memorial event for Charlie Kirk, where they were seen chatting and shaking hands. Their reunion went viral due to the unique hand gesture they both made, known as the "Merkel-Raute" or Merkel diamond, believed to enhance brain power and concentration. This gesture is useful for leaders and professionals.
Trump signed an executive order increasing the fee for new H-1B visas from $1,500 to $100,000. Brokerages say the impact will be minimal as it is a one-time payment every six years. Indian IT companies can lessen the impact by hiring local talent and offshoring. Nuvama noted that the fee only applies to new applications, not renewals. Indian IT firms are in a better position than global peers.
Zoho cofounder Sridhar Vembu agrees with Stripe CEO Patrick Collison that a strong manufacturing base is crucial for a country's sovereignty and leadership. Vembu emphasizes the importance of manufacturing for national wealth and well-being, and urges India to focus on boosting its manufacturing sector due to demographic realities and the need for scale.
Canada arrests Khalistani terrorist Inderjeet Singh Gosal, a close associate of separatist Gurpatwant Singh Pannun, on charges of possessing weapons and engaging in extremist activities. The arrest coincides with efforts to improve India-Canada relations. Gosal gained prominence in Khalistani group Sikhs for Justice after the death of Hardeep Singh Nijjar in 2023.
Essar's UGEL will invest Rs 900 crore to expand its LNG retail outlets to 100 across India. The current six stations are strategically placed in key industrial and logistics hubs, are EV-ready, and can reduce 66,000 tonnes of carbon emissions annually. Partnerships with major LNG suppliers will ensure consistent fuel supply.
The India vs Pakistan Asia Cup match was overshadowed by political tensions as Pakistani players made provocative gestures on the field, referencing the downing of Indian aircraft. This has sparked outrage and calls for a boycott, with some questioning India's decision to continue playing. The incident has also highlighted a deeper issue within Pakistan's mindset.
US President Donald Trump’s administration is preparing to make a “historic” medical announcement, tying the use of Tylenol during pregnancy to autism risk, while promoting another drug, leucovorin, as a potential treatment, WSJ reported.
Motilal Oswal, a brokerage firm, has identified top picks in Indian IT sector, including HCL Tech, Tech Mahindra, and Coforge. These stocks are well-equipped to handle current challenges and have strong leadership, diversified presence, and ability to win large deals. The recent weakness in the sector is attributed to the hardware cycle, but capital expenditure is expected to improve.
Jefferies, a brokerage firm, chooses Tata Consultancy and Infosys as top picks in largecap IT due to their ability to handle the $100K Visa curveball. Coforge is recommended in the midcap category. The new US visa fee will affect IT firms' margins and revenues, but they have time to find solutions. Jefferies has a Hold rating on TCS, with a target price of Rs. 3,100.
A 22-year-old engineering student in Hyderabad, Jadav Sai Teja, died by suicide after being harassed by his seniors. He was found hanging in his hostel room and had been beaten and forced to pay a bill of Rs 10,000 at a bar. In a video, Teja said they were hitting him and asking for money. His family and lawyer have reached the hostel after hearing about the incident.
Aditya Birla Capital plans to raise Rs 2,000 crore through the sale of multiple maturity bonds, targeting Rs 500 crore each through two-year and six-month bonds, five-year bonds, and the re-issue of 7.3789 per cent February 2028 and 7.2959 per cent September 2028 bonds. The company has diversified its portfolio and increased its digital offerings, leading to a 'Buy' rating from Motilal Oswal. They
Markets have stabilized after initial shock from H-1B news, with Nifty trading around 25,300. Adani Power saw a rally after 1:5 stock split, with Adani Total Gas and Adani Green also performing well. IT stocks are down due to H-1B visa shock, but analysts predict limited impact on margins. Cochin Shipyard and other defense stocks are buzzing due to potential Rs 80,000 crore order from Indian Navy.
PM Modi engages with taxpayers, traders, and industry representatives in Arunachal Pradesh to discuss the positive impact of reduced GST rates. He encourages the purchase and promotion of 'Made in India' products and inaugurates a state-of-the-art Convention Center. The PM said northeast is close to his heart and hence "Dilli ko paas le ke aaye hain".
Indian Navy to place Rs 80,000 crore order for four Landing Platform Docks. Defence Ministry to take up proposal, boosting public and private sector companies. Mazagon Dockyard, Cochin Shipyard, and Hindustan Shipyards expected to lead contract. Private sector companies like L&T and Navantia may also partner. Stock performance of Mazagon Dock, Cochin Shipyard, and L&T in the last month and year.
Inox Clean Energy, a subsidiary of Inox Solar, has started production at its solar module manufacturing facility in Gujarat. The plant uses cutting-edge technology to produce high-efficiency N-type TOPCon solar modules. The first phase capacity is 1.2 GW, with plans to expand to 3 GW. Inox Solar is also setting up a 4.8 GW solar cell-plus-module facility in Odisha
Renault is set to release the new Duster in India in early 2026, with unique design elements like LED taillamps and a spoiler. It will also have a 10-inch infotainment display and Advanced Driver Assistance Systems. The SUV will be powered by a 1.6-litre engine.
The iValue Infosolutions IPO is closing today with a price band of Rs 284-299 per share. It aims to raise Rs 560.29 crore through Offer for Sale and has a grey market premium of Rs 3. The subscription rate is at 1.00 times overall, with retail investors at 1.01. Potential listing price may be just 1% higher than the upper end of the price band.
North Korean leader Kim Jong Un said there is no reason to avoid dialogue with the US if Washington stops insisting that Pyongyang give up its nuclear weapons. Kim made it clear his country will never trade its arsenal for relief from sanctions, state media reported on Monday.
Defence Minister Rajnath Singh reaffirms India's claim to Pakistan-occupied Kashmir (PoK) due to the people's demand for freedom. He recalls his prediction from five years ago that PoK will become a part of India without any attack. He said, "PoK will itself say, mai Bharat hoon." Singh also discusses India's targeted operation against Pakistan-based terrorists.
Nasscom believes that the recent changes in the H-1B visa policy will have a limited impact on Indian IT firms. The number of visas issued to top companies has decreased, but they have been investing in local hiring and upskilling programs. The $100,000 fee will only be applicable in 2026, giving companies time to adjust. Nasscom says the fee will not have a significant impact on the sector.
GK Energy's second day of bidding for its IPO is being closely watched as investors are skeptical about potential gains at listing due to a 14% cooled off GMP. The IPO, priced at Rs 145-153, closes on September 23 with key risks including heavy reliance on solar pumps, regional exposure, supplier dependence, competitive pressure, and reputation risks.
A software engineer from India, Rohan Mehta (not his real name), told the BBC that he spent over $8,000 (£5,900) on flights just to return to the US amid fears over a looming visa deadline following Trump’s new executive order.
Tom Holland, lead actor of Spider-Man: Brand New Day, was hospitalized after suffering a mild concussion during a stunt gone wrong. Filming was halted and will resume after he takes a break. No one else was affected and filming plans will be adjusted. Concussions can have serious symptoms, so it's important to seek medical attention if needed.
FMCG companies have reduced prices of daily essentials and food items under GST 2.0, just in time for Navratri and Diwali. ITC, Amul, Nestlé, Dabur, PepsiCo, Ferrero, P&G, Emami, HUL, and Patanjali have all announced price cuts, with some of the biggest reductions seen in ghee, butter, Maggi, Nescafé Gold, toothpaste, and chocolates.
Suzuki Motorcycle India, a subsidiary of Suzuki Motor Corporation, Japan, has implemented GST 2.0 reforms and passed on the benefits to customers. This includes reduced GST rates on two-wheelers and auto components, resulting in more affordable and accessible products. The comprehensive price revision is expected to improve customer satisfaction and drive demand in the two-wheeler market.
Travis Kelce and Chiefs head coach Andy Reid had a heated exchange during Sunday Night Football against the New York Giants at MetLife Stadium. The confrontation took place during the second quarter after Harrison Butker missed a 40-yard field goal.
The Indian IT sector is facing challenges due to increased H-1B visa fees by US President Trump. This has led to a drop in stock prices, with Tech Mahindra being the worst affected. However, experts believe this will have a short-term impact, and companies can counter it by outsourcing and hiring local talent. In the future, this change may even lead to improved operating margins.
Netflix CEO Reed Hastings supports US President Donald Trump's H-1B visa proclamation, which includes a $100,000 fee for new applications. However, the fee is a one-time charge, not annual, and only applies to new visas, not renewals or current holders. He revealed that he himself has worked on H-1B visa for 30 years and admitted that it is a "great solution".
Indian equity indices opened lower on Monday, with the NSE Nifty 50 and BSE Sensex falling by 0.28% and 0.34% respectively. The Bank Nifty, however, opened slightly higher. Small and midcap stocks also opened lower, with the Nifty Midcap falling by 0.24%. The market is expected to see a dualistic behavior today, with IT stocks being impacted by the H1B visa issue.
The VMS TMT IPO, which closed on September 19, will finalize share allotment today. It received a strong response from investors, with a subscription of 102.24 times. The IPO price band was Rs 94-99 per share. Investors can check their allotment status online.
President Donald Trump was one of the few speakers at Charlie Kirk’s memorial to directly address the suspected killer, whom he described as a “radicalised, cold-blooded monster," CNN reported.
Trump and Musk, who had a public feud, were seen together at Charlie Kirk's funeral. Their interaction went viral, with Musk sharing a picture and video from the event. He stated that Kirk's death was due to his efforts to make a difference and spread positivity.