CEO of Amerilodge Group, Asad Malik, was accused of sexual harassment and assault by former employee Stephanie Starling during a Justin Timberlake concert. Despite being recognized as EY Entrepreneur of the Year, Malik allegedly begged for a kiss and touched Starling inappropriately. She filed a lawsuit and was later fired, sparking an independent probe.
The markets experienced a slight drop, with Nifty struggling at 24,700 and Sensex remaining flat. ITC's share price fell 3% due to GST concerns, while Persistent Systems and Ola Electric faced losses. However, Vodafone Idea saw a 6% increase. BSE's stock corrected significantly but is expected to see profit growth due to lower costs and colocation income.
President Trump signed an executive order to reduce tariffs on Japanese car imports and other goods, easing the burden on Japan's export-driven economy. The deal, announced in July, includes $550 billion of Japanese investment in U.S. projects. The lower tariffs, effective in seven days, prevent the 15% levy on Japanese imports from being added to existing higher tariffs.
Indian benchmark indices started positively, but optimism faded as sectoral pressure dragged markets lower. Realty, IT, FMCG, pharma, PSU banks, energy, infra, and metals all traded weak. Broader markets also showed signs of caution with Nifty Midcap 100 and Nifty Smallcap 100 slipping. Valuation concerns and global pressures ahead of Q2 earnings have led to cautious investor sentiment.
Novak Djokovic and Carlos Alcaraz are set to face off in the US Open 2025 men’s singles semifinal, with the 38-year-old Serbian aiming for a record 25th Grand Slam title and the 22-year-old Spaniard seeking revenge. This will be their first-ever meeting at the US Open, adding to the excitement. Djokovic leads the rivalry by 5-3, but Alcaraz has proven himself as a strong competitor, defeating Dj
Justin Bieber's surprise release of his new album, Swag II, has caused excitement among fans worldwide. The album cover has taken over billboards and social media, while Bieber made headlines for surprising a bride at her wedding. He also dedicated a song to his wife, Hailey Bieber, shutting down divorce rumors. Meanwhile, his former girlfriend Selena Gomez got engaged.
A laid-off employee expressed frustration on Reddit after finding out a meeting about "organizational alignment" was actually a layoff announcement. The employee had suspected this earlier and noticed a lack of communication from management. The layoff resulted in their department merging with another, with some colleagues receiving more notice.
JSW Cement's share price is facing selling pressure after reaching a record high on September 04. The government's infrastructure push and lower GST are anticipated to increase demand in the future. However, Motilal Oswal advises caution as the company's debt levels remain high. JSW Cement plans to reduce costs by Rs 400 per tonne in the next two years through cost efficiency measures.
The IT sector experiences a drop in stocks due to selling pressure, causing the Nifty IT Index to fall by 2%. Major companies like Infosys, TCS, and HCL Tech are all affected, along with all 10 constituents of the index. Weak global cues, volatility, and concerns over US jobs data and Fed rate cut also contribute to the decline.
India Yamaha Motor has introduced new color options for the R15 series, such as Metallic Grey, Metallic Black, and Matte Black. These updates aim to increase customer enthusiasm and solidify the R15's position as the top sportsbike in its category. With its outstanding performance and handling, the R15 remains a sought-after choice for young riders, competing with bikes like the Bajaj Pulsar.
The Income Tax Department has extended the deadline for filing ITR to September 15, 2025, but only 4.56 crore people have filed as of September 4. Out of these, only 3.17 crore have been processed, leaving 3 crore yet to file. Late filing can result in penalties and delayed refunds. The deadline might not be extended again, so it is advised to file early.
Swiggy and Zomato are preparing for the effects of new GST reforms which will make them responsible for taxes on local delivery services. They may increase delivery fees to protect their margins, potentially impacting consumers and the industry. However, some experts believe this could improve supply chain efficiency and benefit farmers and consumers.
Maruti Suzuki's new compact SUV, the Victoris, has received a 5-star safety rating from Bharat NCAP. It is expected to be more affordable than the Grand Vitara and offers advanced safety features like six airbags and ABS with EBD. The Victoris scored high in adult and child occupant protection, making it the second Maruti product to achieve a perfect safety rating.
Trump hosted a dinner with top tech leaders, including Zuckerberg, Gates, and Cook, but Musk was absent, causing speculation. Musk clarified he was invited but couldn't attend. The internet was upset by Gates' presence, saying Musk should have been there. Relations between the tech CEO and Trump have soured in recent times.
Widespread rainfall continues in Gujarat, with 195 talukas receiving rain in the past 24 hours. Umarpada in Surat recorded the highest rainfall of eight inches, while several other areas received over six inches. The IMD has forecasted sporadic showers until the monsoon withdraws around September 25.
Shree Siddhivinayak Ganapati Mandir Trust in Mumbai is planning a Rs 100-crore expansion, including the acquisition of Ram Mansion and Siddhivinayak Cooperative Housing Society. This will allow for the construction of new facilities and an underground parking lot for 450 cars.
Motilal Oswal has upgraded Swiggy to 'Buy' and reiterated its 'Buy' recommendation on Eternal (Zomato), predicting a strong growth rebound for both platforms. With GST reforms, festive tailwinds, and easing competition, the brokerage sees potential for a 32% upside for Swiggy and a 29% upside for Eternal.
TVS has launched the new Ntorq 150 in India at a price of Rs 1.19 lakh. It competes with the Hero Xoom 160 and Yamaha Aerox 155. The Ntorq 150 features a fresh design, projector headlights, all LED lighting, and a TFT instrument display with smartphone connectivity. It is powered by a 149.7cc engine that produces 13bhp and 14.2Nm of torque, with a top speed of 104kmph.
Fashion icon Giorgio Armani, worth $12 billion, died at 91 with no heirs to inherit his luxury label. He transformed menswear and had a successful RTW brand. His diverse business ventures made him the third richest Italian. The future of the brand now lies in the hands of his family and closest business partners.
Finance Minister Nirmala Sitharaman's new GST reforms have caused controversy with a steep tax increase on IPL tickets. While industrialist Harsh Goenka supports the reforms, he questions the 40% tax on IPL tickets, which may discourage fans from attending matches. However, cinema-goers have received some relief with lower GST rates for tickets.
Barron Trump, the son of Donald and Melania Trump, has been absent from NYU for seven months despite enrolling in September 2024. His whereabouts and involvement on campus have been questioned, with rumors of conspiracy theories and concerns from his mother, Melania. A NYU professor believes Barron may have dropped out.
Finnish President Alexander Stubb cautions US President Donald Trump that his aggressive approach towards India and the Global South may result in losing influence to China and Russia. Stubb emphasizes the importance of viewing India as a strategic partner and not alienating them with tariffs and sanctions.
Mazagon Dock Shipbuilders, a defence PSU, has declared a final dividend of Rs 2.71 per share for the financial year 2024-25. The record date for eligibility is September 19, 2025, and the AGM is scheduled for September 26. The company has a history of regular dividends, with a 17% return in the past year. The market capitalisation is Rs 1.08 lakh crore.
TVS Motor Company has launched its latest scooter, the NTORQ 150, at an ex-showroom price of Rs 1,19,000. With this, TVS has entered the above-125cc scooter category, aiming to strengthen its position in the premium scooter segment. The company has invested Rs 100 crore in this product and is tapping into the growing sporty scooter segment, which has seen a 11% growth.
Elon Musk's Starlink is set to bring satellite broadband services to India after obtaining provisional spectrum for trials. The company will establish ground infrastructure at 10 sites, with Mumbai as its hub, and must comply with Indian security norms before launching. Officials predict affordable monthly charges, making it a viable option for underserved areas.
Kettleborough VC, a solo general partner (GP) venture capital firm, has launched Fund II with a target corpus of Rs 60-80 crore and plans to invest in 10-12 startups. Nisarg Shah, founder of Kettleborough VC, discusses the rise of solo GP firms in India, his standout investments, and the sectors he is bullish about.
Experts believe that the recent GST rate cuts, including a special rate for sin goods, could increase GDP growth by 10-60 bps annually. This will be driven by higher consumption, improved compliance, and lower inflation. However, the government should not tighten fiscal policy to counter the consumption boost.
CBIC chairman Sanjay Kumar Agarwal predicts that GST revenues will stabilize and increase in the coming months. He addresses concerns about industries like automobiles facing losses due to new GST rates and states seeking revenue compensation. He believes that compliance will improve, leading to better tax collections.
The GST exemption on life and health insurance is being evaluated by insurance companies, leading to the loss of input tax credit. Premiums may not immediately increase, but companies will have to cover some costs and may raise prices by 2-4% for new sales. In the future, the exemption could attract more customers and improve the industry, but short-term margin pressure may occur.
The decrease in GST rates has made premium cars more accessible, causing a shift towards higher-end options. Small cars will see price cuts of up to 8.5%, while larger sedans and SUVs will see cuts of 3.5% to 6.7%. This will boost demand in both rural and urban areas, including the luxury car segment.
The Yamuna River in Delhi has reached its peak due to heavy rainfall, leading to warnings and relief camps being set up. Ghaziabad is also facing evacuation and the risk of diseases. Businesses in the Tibetan Colony have been forced to close. More rain is expected and 24 river monitoring stations are at risk.
President Trump plans to sign an executive order to rename the Department of Defense to the "Department of War," allowing for the use of secondary titles like "Secretary of War." The move, which will require congressional approval, is part of Trump's efforts to rename institutions and places.
President Trump hosted a dinner for top technology leaders, including Indian Americans, at the White House. The dinner followed a meeting of the Artificial Intelligence Education Task Force, chaired by First Lady Melania Trump, which aims to develop AI education programs for young Americans. The dinner is expected to become a regular feature.
President Trump plans to impose tariffs on semiconductor imports from companies that don't move production to the U.S. During a dinner with tech CEOs, he stated that non-compliant companies will face a "substantial" tariff, while those investing in the U.S. will be exempt. This move has caused tension with trading partners and created economic uncertainty.
President Trump signs order to implement lower tariffs on Japanese auto imports, reducing uncertainty for Japanese auto sector and confirming $550 billion Japanese investment in U.S. projects. Tariffs set to take effect in 7 days, with some retroactive to August 7.
On September 5th, India celebrates Teacher's Day to honor the birth anniversary of Dr. Sarvepalli Radhakrishnan, a philosopher and the second President of India. Let's show our appreciation to the teachers who have played a significant role in shaping our lives by sharing Happy Teacher's Day 2025 wishes, quotes, messages, and greetings.
Eid Milad un Nabi 2025 celebrates the birth of Prophet Muhammad, with Muslims worldwide honoring his life and teachings of peace, compassion, and kindness. The festival is marked by prayers, acts of charity, and spending time with loved ones. Let us embrace the Prophet's teachings and spread love and positivity on this day of reflection and celebration.
CBIC chairman Sanjay Kumar Agarwal announced that there will be no refund of compensation cess paid on stocks of automobiles, aerated drinks, and coal as of September 22, resulting in the lapse of input tax credit. This decision has raised concerns among automobile dealers, who estimate losses of Rs 2,500 crore.
The government has lowered GST rates on medicines and medical devices, aiming to help patients and boost demand for healthcare products. Reforms have also been implemented to address working capital problems and speed up refunds. However, concerns remain about the government's evaluation of refund claims and the need for further rate rationalization, especially for APIs.
The reduction in GST on construction materials, including cement, is predicted to have a positive impact on the struggling affordable housing sector. This move is expected to lower costs and prices of apartments, especially those priced below Rs 40 lakh. It is also expected to benefit developers, consumers, and may even drive demand for cement in rural housing.
Tax cuts on fertilisers, agro-chemicals, and farm machinery will reduce input costs and promote sustainable farming. This move is expected to boost farmers' income, stabilize food supply, and enhance affordability for both farmers and consumers. Lower taxes on critical chemicals and unprocessed agricultural products will also provide relief to farmers and consumers.
Food companies are choosing to make smaller packs bigger instead of lowering prices because of new GST rates. This avoids coinage problems and possible anti-profiteering actions. FMCG firms will likely experience a 6-8% rise in smaller pack sizes and a 5% decrease in larger packs, resulting in higher consumption and better deals for consumers in categories with lower taxes.
The rollout of GST 2.0 has left dealers and distributors in the FMCG and cement industries uncertain. FMCG distributors are seeking clarity on how to use input tax credit, while cement dealers are preparing for negotiations on higher discounts. Concerns about trade de-stocking and a decrease in demand are also rising.
Indian students are opting for alternative higher education destinations like Germany and the UAE due to increasing costs, stricter visa rules, and uncertain post-study work opportunities in the US. Affordability and career prospects are now top priorities, leading to a preference for shorter and job-oriented courses. Canada and the UK have seen a decrease in student visas.
Investors took advantage of the GST rate rationalisation announced by Nirmala Sitharaman, causing benchmark indices to give up early gains. Sensex and Nifty closed with marginal gains due to a "sell-on-news" strategy. The simplified tax structure is expected to increase festive demand and revive consumption, potentially adding 100-120 basis points to GDP growth and unlocking strong economic wave.
E-commerce platforms are rushing to update their systems to comply with the newly announced GST rate slabs before the start of their biggest sales season. The reforms, effective September 22, have landed right before Flipkart and Amazon's annual sales events, leaving them with little time to adjust. While the companies remain optimistic, there are concerns about potential challenges.
The GST rejig will impose a 40% tax rate on sin goods, with additional levies to maintain high tax incidence. These measures will be implemented after the compensation cess ends in October-November, according to CBIC chairman Sanjay Kumar Agarwal. Luxury items like cars and bikes will be exempt, while the tax hike on sin goods is projected to generate an extra Rs 45,000 crore in annual revenue.
Indian Institute of Technology-Madras (IIT-M) and Indian Institute of Science (IISc) have secured the top three positions in the overall National Institutional Ranking Framework (NIRF) rankings for 2025. IIT Madras maintained its top spot and also topped in other categories such as engineering and sustainable development goals.
The recent tax cuts by the GST Council have been well-received by Corporate India, as it is expected to boost domestic demand and provide relief to households. These reforms, after eight years of GST's introduction, are seen as a game-changing move that will accelerate growth and empower consumers. The reduction of GST rates in essential categories is expected to increase accessibility.
Kaynes Semicon, the semiconductor subsidiary of Kaynes Technology, is set to deliver its first chip from its outsourced semiconductor assembly and testing (OSAT) facility in Sanand, Gujarat, by October. The company expects to break even within 18 months and is eyeing a public listing once revenues cross $100 million.
The recent reduction in GST rates before state elections is being exaggerated for political gain. However, India's rates are already low compared to other countries and the tax-GDP ratio is lower. The previous tax system was more complex, and rate cuts have mostly benefited top corporations. The belief that lower prices will increase demand and offset revenue loss is unlikely in the economy.