🗞️ Daily Business Brief – SEP 02, 2025
- GST Council meeting scheduled tomorrow and Thursday.
- Indian IT Minister says India offers 20–30% cost edge in semiconductor manufacturing; calls for stable policy regime – ET.
- Mahindra & Tata face negative sentiment as Indian panel recommends raising EV tax rate to 18% (from 5%) for cars priced ₹2–4 million – Reuters.
- India to launch 3 new semiconductor projects this year; HCL–Foxconn land allocated – ET.
- Tata Electronics & Merck ink MoU to boost India’s semiconductor ecosystem.
- President Trump to make defense-related announcement today; Fox News & Reuters confirm focus on US Defense Department.
- Chemical Exporters get relief: Export obligation for QCO products extended from 6 to 18 months; flexibility for inputs; duty-free raw material imports allowed.
- PNC Infratech emerges L1 bidder for Varanasi Airport project worth ₹297 crore.
- Hexaware Tech achieves AWS Premier Tier Partner status, strengthening cloud modernization play.
- BHEL gets favorable CGST appellate order, quashing ₹31.2 crore demand.
- HPCL says LPG under-recoveries at ₹11,000 cr last year & ₹2,000 cr in Q1; to receive ~₹8,000 cr govt support; 13% crude sourced from Russia in Q1.
- DCX Systems appoints Prasanna Kumar as CFO; re-appoints Raghavendra Rao as CMD.
- Yes Bank gets CCI approval for SMBC to acquire up to 24.99% stake; SMBC already had RBI nod.
- FM Sitharaman chairs textile industry meet on economic challenges.
- TCS secures €550 million, 7-year deal with Tryg for digital transformation.
- DCM Shriram enters strategic agreement with Aarti Industries for chlorine supply.
- Indian Hotels CEO says GST relief could boost hospitality sector and create level playing field.
- Advanta Mauritius approves $502 million purchase of Decco Holdings (UPL subsidiary).
- Bandhan MF launches India’s first Sector Leaders Index Fund.
- Russia: Putin says new US administration hears Moscow’s view; not against Ukraine in EU; reiterates opposition to NATO membership.
- Mobikwik surges 20% as ADIA exits via 2% block deals.
- Tyre stocks (MRF, JK Tyre, Ceat) rise 5–6% on hopes of GST rate cut.
- Adani Power gets Coal Ministry approval to commence Dhirauli mine operations.
- Piyush Goyal says India–EU trade talks at advanced stage; bilateral pact with US also under discussion.
- Glenmark Pharma arm to launch breast cancer treatment injection in US market.
- DEE Development wins LoI worth ₹170 crore from Indian PSU in power sector.
- NSDL shares worth ~₹1,000 crore to unlock for trade on Wednesday as lock-in ends.
- PB Fintech: BimaSugam launch postponed; not a near-term priority, say industry sources.
- SEBI approves confidential DRHP of Imagine Marketing (boAt).
- Cupid secures record $11.5M (₹100+ cr) export order wins in Brazil, Tanzania & South Africa, expanding global condom, lubricant & IVD kits presence.
- Kirloskar Ferrous deregisters ISMT Enterprises SA in Luxembourg; ceases to be subsidiary.
- Antony Waste incorporates Kadapa Renew Energy, step-down subsidiary for 15 MW Andhra Pradesh waste-to-energy project.
- C.E. Info Systems completes 96% stake acquisition in GTropy Systems for ₹24.99 crore.
- Adani Energy Solutions repurchases $44.7M senior secured notes, cutting 2031 debt to $255.3M.
- US revokes TSMC waiver allowing Chinese chip shipments.
- Kopran promoters execute family settlement to consolidate management control; move seen boosting stability and investor confidence.
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