FPIs Withdraw ₹12,257 Cr in Sept
Your daily dose of business news
🗞️ GST reforms could add ₹20 lakh crore to GDP
Union Minister Ashwini Vaishnaw said GST reforms could potentially boost GDP by ₹20 lakh crore over the next decade, citing efficiency and compliance gains.
💬 Expert Take — Aditi Nayar, ICRA: “While ambitious, the projection highlights GST 2.0’s structural potential. The pace of reform execution will be key.”
🗞️ Renault to cut vehicle prices under GST 2.0
Automaker Renault will reduce car prices by up to ₹96,395 from Sept 22, passing on benefits of GST rationalisation to buyers.
🗞️ NLCIL mines get five-star rating
The Union Coal Ministry awarded a five-star rating to NLC India Ltd’s mines, recognising sustainable mining and environmental practices.
🗞️ FPIs withdraw ₹12,257 cr in September
Foreign portfolio investors have pulled out ₹12,257 crore in the first week of September amid a strong dollar and tariff concerns.
💬 Expert Take — VK Vijayakumar, Geojit Financial: “Persistent FPI selling reflects global risk-off sentiment. However, domestic inflows remain a cushion.”
🗞️ Iljin Electronics secures ₹1,200 cr funding
South Korea’s Iljin Electronics raised ₹1,200 crore from ChrysCapital and InCred PE to expand its manufacturing footprint in India.
🗞️ KarbonSteel IPO opens Sept 7
KarbonSteel Engineering raised ₹17 crore from anchor investors ahead of its ₹27-crore IPO opening Sept 7, with funds aimed at capacity expansion.
🗞️ PhysicsWallah files updated IPO papers
Edtech unicorn PhysicsWallah, led by Alakh Pandey, plans to raise ₹3,820 crore via IPO after filing updated papers with SEBI.
🗞️ GST cuts to benefit 10 crore dairy farmers
The Ministry of Cooperation said GST cuts will benefit ~10 crore dairy farmers, easing costs in feed, logistics and inputs.