📱 Urban Company IPO Price Revealed
Your daily dose of business news
🗞️ Urban Company sets IPO price band at ₹98–103
The home-services platform fixed its price band at ₹98–103 for a ₹1,900-crore issue opening Sept 10, signalling a value-first approach to broaden retail participation.
💬 Expert Take — Rohit Mehta, Equity Research: “Tight pricing should help retail demand; investors will watch unit economics and path to profitability.”
🗞️ Services PMI hits 15-year high; inflation intensifies
India’s services PMI jumped to the strongest level since 2010, led by new orders and exports — but output prices rose sharply, signalling rising input costs.
💬 Expert Take — Pollyanna De Lima, S&P Global: “Robust demand is encouraging, but the inflation uptick means firms will need to manage margins carefully.”
🗞️ GST 2.0 in focus — time to rejig portfolios
Broker notes suggest GST 2.0 talk is tilting investor interest toward FMCG, autos and tyres as potential beneficiaries of rate rationalisation.
🗞️ Market ends firm; Sensex up ~410 pts
Markets saw broad buying after the macro prints — the Sensex jumped ~410 points with breadth positive and mid/small caps participating.
🗞️ GST relief likely for green hydrogen & battery storage
Early reports indicate targeted tax relief under GST could favour green hydrogen and battery storage — a move to catalyse clean-tech manufacturing.
🗞️ boAt secures SEBI nod for IPO
Consumer electronics brand boAt received SEBI approval to proceed with its IPO, adding momentum to the primary market pipeline.
🗞️ EPF withdrawals up to ₹1 lakh via UPI coming
EPFO is set to enable EPF withdrawals up to ₹1 lakh via UPI, speeding small-ticket claims and improving member access under EPFO 3.0.
📊 Market Update
📈 Sensex: 80,567.71 ▲ +409.83 (+0.51%).
📈 Nifty 50: 24,715.05 ▲ +135.45 (+0.55%).
💱 USD/INR: ₹88.07 ▲ (weaker rupee).
🪙 Gold (24K spot): ₹10,697/g (≈ ₹1,06,970/10g) ▲ (record zone).
🛢️ Brent crude: ~$68–69/bbl.