🗞️ Daily Business Brief – AUG 28, 2025
- Centre proposes GST hike on business and premium air travel to 18%: Sources.
- US Jobless Claims for the week ended Aug 23 at 2.29 lakh vs 2.34 lakh previous week.
- US Q2 GDP Growth 2nd estimate at 3.3% QoQ vs estimate of 3%.
- ICICI Bank: Group CCO Subir Saha retires Aug 28; Anish Madhavan appointed GCCO w.e.f Aug 29, 2025.
- GoM on GST rate rationalisation to table govt proposals for 2-rate GST regime (5% & 18%).
- Likely GST Proposals: Cut GST on wood pulp, cartons, boxes, paperboards from 12% to 5%; hike GST on chemical wood pulp & uncoated paperboards from 12% to 18%.
- GST Proposals – Pharma: Move all drugs & medicines from 12% to 5%; cut GST on rare-disease drugs to nil.
- GST Proposals – Medical Equipment: Cut GST on thermometers, instruments for surgeries & dental procedures from 18% to 5%.
- GST Proposals – Fertilizer & Coal: Cut GST on fertilizer acids & bio-pesticides to 5%; hike GST on coal & solid fuels to 18% from 5%.
- GST Proposals – Footwear: Hike GST on footwear >₹2,500 to 18% (from 12%); cut GST on footwear ≤₹2,500 to 5% (from 12%).
- FIEO Delegation meets FM, exporters flag high US tariffs; FM assures govt support to exporters.
- GoM on Compensation Cess divided; likely to propose 2 options: continue cess as levy or allocate GST rate directly.
- IIP Growth at 3.5% in July 2025; Mining -7.2%, Manufacturing 5.4%, Electricity 0.6%.
- India’s top online beauty retailer eyes growth in UK and beyond.
- Bajaj Finserv: AHPI revokes order withdrawing cashless facility for Bajaj Allianz & Care Health.
- Commerce Ministry: 50% tariffs to impact trade short-term; supply chains to recalibrate in few months.
- NTPC: Board approves partial modification to transfer coal mining business to NTPC Mining; worth ₹7,735.54 Cr revenue, purchase consideration ₹10,503.27 Cr.
- Himatsingka Seide: Board to meet Sept 2, 2025 for fundraising proposal.
- IndiGo: MoCA approves extension of lease for 2 Boeing 777s from Turkish Airlines.
- Lemon Tree Hotels signs 98-room property in Mohkampur, Dehradun via subsidiary Carnation Hotels.
- European Commission proposes eliminating tariffs on US industrial goods, seafood & non-sensitive agri products.
- SEBI approves stock broker Groww IPO: Sources.
- Muthoot Finance infuses ₹499.99 Cr equity into subsidiary Muthoot Money to strengthen capital base.
- UltraTech Cement: Order-in-Appeal sets aside tax demand; no material financial impact.
- CG Power: Subsidiary CG Semi launches India’s first end-to-end OSAT facility in Sanand, Gujarat; ₹7,600 Cr investment to create 5,000 jobs.
- Jain Irrigation: Board to meet Sept 2, 2025 to consider fundraising.
- Jindal Worldwide: Approves ₹70 Cr corporate guarantee in favor of Aegios Polyfilms Pvt. Ltd.
- TVS Motor: Exec says alternatives to rare earth magnets are in progress.
- Allcargo Logistics: July 2025 update – LCL up 10% MoM, FCL up 9% YoY, Air Cargo up 46% YoY.
- BSE to allow pre-open trading in F&O.
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