Odisha's BJD and Telangana's BRS have decided to boycott the vice president elections. This means they will not support either of the two candidates in the fray - CP Radhakrishnan of the BJP-led NDA and B Sudershan Reddy of the opposition's INDIA bloc. BJD chief Naveen Patnaik cited the party's policy of "equal distance" from both national alliances, while BRS prioritized the plight of farmers.
Vedanta has offered Rs 17,000 crore for Jaiprakash Associates' assets, but will need approvals that could take 3-6 months. This is surprising as the businesses do not align with Vedanta's core portfolio, but the payment terms are favorable. However, the turnaround visibility is unclear, and there are concerns about the strategic fit.
The government has added a new provision, Section 164A, in the Insolvency and Bankruptcy Code (Amendments) Bill, 2025 to prevent company promoters from diverting funds before filing for personal insolvency. This allows resolution professionals to reverse avoidance transactions with no time limit.
Market news: Tuesday saw important market updates, with investors keeping an eye on new deals, expansions, and policy changes in the IT, infrastructure, and consumer sectors. Indian equity indices closed with marginal gains, with the Sensex rising 76.54 points and the Nifty edging up 32.15 points. Stocks to watch include Infosys, IRB Infrastructure, Brigade Enterprises, Godrej Consumer, and more.
NPCI data reveals UPI consumer spending growth in debt collection, groceries, and securities in August. Food and beverage sector shows signs of recovery, but online gaming ban causes decline. UPI transactions reach 20 billion, with slight increase in merchant transactions.
Interior design startup Flipspaces has raised $50 million in its Series C round, with $15 million from new investors. The funds will be used to expand operations, enhance technology and supply chain, and possibly acquire other companies. This reflects the increasing investor focus on proptech, along with other real estate startups.
Amazon India is preparing for its largest shopping event by increasing logistics, having a high number of sellers, and offering lower prices due to GST cuts. The Great Indian Festival, beginning September 23, will have a high demand from pent-up demand and GST reduction. Amazon has also improved its systems, lowered referral fees for sellers, and hired 150,000 seasonal employees.
Newton School, an edtech startup, has experienced a 40% rise in enrollments for courses in AI, Gen AI, and data science, mainly through referrals. Their offerings include a B.Tech program, certifications, and a career acceleration sprint for early professionals.
Hero MotoCorp has appointed Harshavardhan Chitale as its next CEO, effective January 2026, signaling its focus on electric mobility and premium motorcycles in a competitive two-wheeler market. Chitale, with global experience in innovation and transformation, will take over from interim CEO Vikram Kasbekar.
Car and SUV registrations increased by 1% in August, and dealers are expecting a further boost in sales in September due to festive demand and GST clarity. Two-wheeler sales also saw a rise of 2%, while commercial vehicles saw a significant increase of 9%. However, three-wheeler sales declined by 2%.
The election for India's vice president will take place on September 9, with CP Radhakrishnan of NDA and B Sudershan Reddy of INDIA bloc as the candidates. The position offers perks such as a monthly remuneration of Rs 4 lakh and free accommodations, medical care, and staff, but there is no designated salary. This is because the VP is also the ex-officio Chairman of the Rajya Sabha.
Infosys board to discuss buyback of equity shares in upcoming meeting. Share price in focus after ending flat with negative bias. Previous buyback in 2022 saw 60.4 million shares repurchased. The decision is expected to be shared after the meeting.
Ex-CECs criticize current CEC's demand for affidavit from Rahul Gandhi, emphasize need for inquiry into "vote theft" claims and stress on maintaining integrity of electoral roll. Former officials highlight responsibility of Election Commission to investigate allegations on electoral process.
The Indian government is implementing a 30% duty on low-grade iron ore exports to boost the domestic steel industry and promote value-added exports. This will ensure a steady supply of raw materials at lower prices and allow the industry to export 50 million tonnes of finished steel.
Global Capability Centres (GCCs) in India are evolving from low-cost back-office units to strategic hubs driving enterprise strategy, innovation, and AI-led transformation. By 2030, there could be 5,000 GCCs generating 20-25 million jobs and contributing 3% to GDP.
The reduction of GST rates for certain products may increase costs for businesses due to the inability to offset input taxes. While food items, lifesaving drugs, and education supplies have decreased tax rates, the inability to claim input tax credits could lead to hidden inflation and higher costs for consumers. This structural issue must be addressed in GST reforms.
The benchmark indices closed with slight gains after initially rising, as profit booking led to a decline. Sensex and Nifty reached intraday highs but ended lower. Auto stocks saw a rise due to GST rate cuts, while IT stocks faced losses. Global cues and investor sentiment were uncertain, with expectations of a Fed rate cut and worries about the economy.
Ujjivan Small Finance Bank aims to raise Rs 2,000 crore through a QIP in 18-24 months, with a capital adequacy ratio of 23.1%. It has applied for a universal bank licence and plans to reach a gross loan book of Rs 1 lakh crore by 2030, focusing on secured loans. The bank also plans to expand its branch network and expects a decision on its licence application in December.
Jefferies has given a 'Buy' recommendation for three stocks with potential for double-digit growth, including TBO Tek which saw a 17% increase in share price due to its acquisition of Classic Vacations. Samvardhana Motherson's strong manufacturing capabilities and Hexaware's growth potential have also earned them a 'Buy' rating, with expected upsides of 16% and 27% respectively.
Retailers in Mumbai and Delhi are experiencing a temporary decline in sales due to the annual inauspicious period of Pitrupaksha or Shraadh and the anticipation of GST cuts. However, they remain optimistic that sales will increase during Navratri and Dussehra, and improve even more after the implementation of GST cuts.
Analysts forecast that crude oil prices will hover between $60-70 per barrel in 2025, potentially dropping below $60 by year-end. This is attributed to OPEC's boost in supply and declining global demand. Despite a recent rise in prices, OPEC's decision to gradually increase output is driven by higher inventories, lower demand, and a stable macroeconomic climate.
Real estate sales in India vary across cities, with Bengaluru and Hyderabad seeing strong absorption despite tech layoffs, while Mumbai and Delhi NCR face muted sales. Factors like lower interest rates and tax breaks are encouraging, but trade uncertainty and IT layoffs pose a downside risk. Pune, Hyderabad, and Bengaluru show good absorption, while Mumbai and NCR have slow demand.
The Centre is set to provide no-interest capital expenditure loans to states for the next 50 years to boost the economy. The SASCI scheme has been increased to Rs 1.5 lakh crore for FY26, with Rs 5.12 lakh crore allocated since FY21. These loans are tied to reforms and projects, with a focus on capex-led growth revival. New incentives have been introduced for digital public infrastructure.
Southern states receive majority of agricultural credit despite having smaller share of gross cropped area. Tamil Nadu received highest amount at 16%, followed by Andhra Pradesh at 11%. NABARD is addressing regional disparity in credit distribution.
MHI proposes Rs 13,000-crore incentive scheme to boost domestic manufacturing in construction equipment sector, targeting high-value equipment to increase domestic value addition. Expected to benefit industry players, attract new entrants, and support government's infrastructure push. Success could lead to reduced import bill and doubled domestic market by 2030.
India is seeking a Free Trade Agreement with Qatar to diversify its markets and counter US tariffs. Commerce Minister Piyush Goyal may visit Doha for negotiations. India's trade with Qatar is imbalanced, with mostly petroleum imports. India is also working on FTAs with the EU, Oman, New Zealand, and the EAEU to expand its trade network.
Ambit Finvest targets 30% loan growth this fiscal through increased lending to SMEs and MSMEs, aided by festive demand and GST rate rationalisation. Plans to expand co-lending business once operational issues are resolved. Addressing delinquency concerns by shifting towards larger loans. No immediate need for capital raising.
Ducati has released the 2021 Multistrada range in India, with prices beginning at Rs. 22.98 lakh for the base V4 model and Rs. 28.64 lakh for the V4 S variant. The updated version boasts updated design, improved engine and hardware, and enhanced comfort for both the rider and passenger. It also includes new features like Ducati Cornering Lights and a Coming Home function.
SpiceJet settles $24 million dispute with Credit Suisse, showing commitment to meeting obligations despite tough conditions. Revenue drops 34% in June quarter, but company aims to improve financials and unground 10 aircraft by 2026. Lease agreements secured for growth.
The Indian economy is expected to be greatly affected by the recent GST rate changes. FMCG firms will receive immediate pricing support, while quick commerce and grocery retailers will also see positive effects. However, apparel and footwear companies will have a mixed impact, and QSRs and food delivery platforms may gain margins but also face additional GST charges on delivery.
Hero MotoCorp appoints Harshavardhan Chitale as new CEO, effective January 5, 2026. Chitale brings over 30 years of global leadership experience in B2B and B2C sectors, with expertise in industrial automation, lighting, IT services, and digital transformation. He has a proven track record of driving growth, profitability, and organizational renewal.
Toyota has lowered prices on all its cars in response to the new GST rates, benefiting both buyers and manufacturers. This includes cars and two-wheelers, with small cars becoming 5-13% cheaper and luxury brands facing a flat 40% rate. Customers are urged to confirm bookings before the festive season to ensure timely delivery. The new GST structure has made cars more affordable.
A TCS employee was allegedly forced into early retirement without any compensation, following the company's decision to lay off 2% of its workforce. The Reddit user claims their brother, who worked for 30 years, was given only 20 minutes to choose between retirement and termination.
CP Radhakrishnan, a two-time MP and RSS member, has been selected as the NDA's Vice President candidate, while the opposition has chosen former Supreme Court judge B Sudershan Reddy. With a four-decade-long political career and experience in various positions, including Governor of Maharashtra, Radhakrishnan is viewed as a strategic choice for the 2026 Tamil Nadu elections.
Nissan Motor India welcomes new GST rates and will pass on benefits to customers, boosting consumer confidence and retail demand during festive season. Revised prices for New Nissan Magnite make it affordable and safe B-SUV, with CNG kit now available at lower cost for additional savings.
Indian PM Modi will not attend BRICS summit, with EAM S Jaishankar representing India. Recent exchange of warm messages with US President Trump signaled a thaw in relations, but Modi's absence shows caution. Summit to focus on Trump's trade policies, attended by leaders from China, Russia, Brazil, and South Africa. India's stance on sourcing Russian oil a cause for concern.
PhysicsWallah, led by Alakh Pandey, filed a draft red herring prospectus with SEBI to raise Rs 3,820 crore through an IPO. Funds will be used for various purposes, but risks include student and faculty retention and maintaining quality services.
Mercedes-Benz has introduced the GLC Electric, a successor to the EQE SUV, at the IAA Mobility motor show. It has a similar design to the traditional SUV and features a 39.1-inch MBUX Hyperscreen, vegan leather interior, and longer wheelbase. The electric SUV will have two variants and a top speed that will impress car enthusiasts.
JM Financial rates Piramal Pharma as 'Buy' with a target price of Rs 313 per share. The recent partnership with NewAmsterdam Pharma is expected to boost the company's global reach and provide a non-statin cholesterol treatment. This deal also showcases Piramal's role as a long-term development partner.
Vikram Solar, a leading solar PV module manufacturer, has received a 336 MW order from L&T Construction for its Khavda project in Gujarat. The company will supply its high-efficiency N-type Hypersol G12R modules, known for improved bifaciality and slow degradation. This is not the first order for Vikram Solar, as they have also received orders from other renewable energy companies.
Ukraine President Volodymyr Zelenskyy has expressed support for US tariffs on countries like India for their continued oil imports from Russia, amid efforts to end the Ukraine conflict. Zelenskyy's comments come as Washington considers further sanctions against Moscow, while India seeks to balance its energy needs with diplomatic efforts for peace.
Aprilia celebrates 10 years in MotoGP with the launch of a limited edition motorcycle, the Aprilia RSV4 X-GP. With only 30 units available, this track-only model is inspired by the MotoGP machine and features exclusive race-spec components such as wings, Öhlins suspension, Brembo brakes, and Pirelli slick tyres. It also comes with a handover experience at Aprilia's racing facility in Italy.
Prince Harry has returned to the UK after two years for charity engagements, including the WellChild Awards. His visit coincides with the third anniversary of Queen Elizabeth II's death, leading to speculation of a reunion with his father, King Charles III.
JM Financial has started covering Angel One with a 'Buy' rating and a target price of Rs 2,700. The discount broker has shown impressive growth in revenue, net profit, and client base. It has also expanded into new financial services like wealth management and insurance, while maintaining steady revenue from existing clients. JM Financial predicts a temporary dip in net profit in FY26.
Markets steady ahead of expiry tomorrow, Nifty and Sensex in green, small and midcaps outperform. Adani Power jumps 4% on news of $60 billion investment plan, GMDC up 6% after government approves incentive scheme for critical minerals. Tata Steel and other steel sector stocks gain on hopes of China rationalizing production.
The new GST rate on 375+ items is expected to boost consumption as Finance Minister Nirmala Sitharaman aims to maintain buying momentum by reducing taxes on regularly purchased items. The government is targeting recurrent consumption, including cars and motorcycles, to drive demand. This could result in "revenge buying" - a surge in consumer spending.
Vedanta, the top bidder for Jaiprakash Associates' assets, will pay Rs 17,000 crore. But Nuvama Institutional Equities sees this as a negative for minority shareholders and questions the reasoning behind the acquisition. They believe Vedanta should prioritize reducing debt instead. The company will reveal its plan after the creditors' committee approves the resolution in two weeks.
Finance Minister Nirmala Sitharaman denies West Bengal's claim of not receiving GST compensation and argues that without reforms, consumers will bear the burden. Amit Mitra, adviser to Mamata Banerjee, accuses GST Council of suppressing dissenting voices. However, Sitharaman refutes this, saying discussions were open and collective. She also rejects the idea of extending the compensation cess.
The BSA Gold Star, a classic single motorcycle, has returned to India and is being celebrated with an exchange program for riders. Customers can trade in any two-wheeler for up to Rs 10,000 and receive a limited-edition accessory kit worth Rs 5,896. The bike boasts a powerful 652cc engine, LED lighting, and modern details while maintaining its classic design.
TVS Apache range of motorcycles, a direct rival to Bajaj's Pulsar, has marked 20 years in India with the launch of special edition models. The limited edition bikes boast distinct aesthetics and come with a USB charger. TVS has also launched new top-spec trims for Apache RTR 160 4V and Apache RTR 200 4V, with additional features and new color options.