SBI Calms States Over GST Relief
Your daily dose of business news
🗞️ SBI assures states on PM Modi’s GST gift
SBI has reassured state governments that despite PM Modi’s proposed Diwali GST gift, they will remain net gainers. The bank noted that increased consumption and tax buoyancy will offset any short-term revenue losses.
Expert Take: According to Dr. Meera Shah, a fiscal economist, “The relief is timed well — heightened festive spending can potentially offset short-term revenue misses.”
🗞️ Tata Capital IPO gears up with $18 bn valuation
Tata Capital has wrapped up investor roadshows and is eyeing an $18 billion valuation for its IPO launch later this month. The public issue is expected to be one of the biggest in 2025.
Expert Take: J.P. Menon, Head of Equity at Axis Securities, notes, “If the market remains stable, Tata Capital’s IPO could set a new retail subscription benchmark.”
🗞️ 13 firms secure SEBI nod for ₹16,000 cr IPOs
In a big boost to India’s equity market, 13 companies including Boat, Urban Company, and Juniper Green have received SEBI approval to launch IPOs worth over ₹16,000 crore.
🗞️ Urban Company clears SEBI hurdle for ₹1,900 cr IPO
Urban Company has secured SEBI approval for its ₹1,900 crore IPO. The home-services unicorn plans to utilize the funds for expansion, technology, and debt repayment.
🗞️ Gold hits record ₹1.06 lakh per 10g
Gold prices surged ₹400 to a historic high of ₹1.06 lakh per 10 grams. Weak rupee and global tariff concerns have fueled safe-haven demand.
🗞️ TCS bags digital transformation deal in Scandinavia
TCS has signed a major digital transformation contract with a leading Scandinavian insurance firm. The deal strengthens TCS’s European presence amid growing demand for IT modernization.
🗞️ IDFC First Bank enables GST payments via UPI
IDFC First Bank has introduced a facility for taxpayers to make GST payments through UPI, debit/credit cards, and net banking — simplifying compliance for businesses.
📊 Market Update
📈 Sensex: 80,157.88 ▼ −206.61 (−0.26%).
📈 Nifty 50: 24,579.60 ▼ −45.45 (−0.18%).
💱 USD/INR: ₹88.16 / $ (approx close).
🪙 Gold (24K): ₹1,06,090 per 10g (today’s domestic rate).