Business

Eternal, formerly Zomato, has surpassed Tata Motors and Titan in market capitalization, reaching Rs 3.13 lakh crore and entering the top 25 Nifty50 firms. Driven by Blinkit’s strong revenue momentum, Eternal’s stock has gained 72% from its 52-week low. While Q1 saw a profit decline, investor confidence remains high, propelling the stock’s rise by 1.19%…

Starting September 22, insurers can’t claim input tax credit (ITC) on GST paid for commissions on individual health and life policies, as clarified by CBIC. This aligns with the new GST structure exempting individual policy premiums. Service providers in other sectors with 5% GST without ITC will also face similar ITC reversal requirements, impacting their…

The Competition Commission of India (CCI) has approved JSW Paints’ acquisition of a 74.76% stake in Akzo Nobel India for ₹12,915 crore. This deal will position JSW Paints as the fourth-largest player in the Indian paint industry. Additionally, CCI cleared Triumph Composites and Quartz Fibre’s acquisition of Owens-Corning (India), covering specific glass fibre products.

Amidst political scrutiny, the US Federal Reserve convened its latest policy meeting with newly appointed governor Stephen Miran, a former Trump advisor. Expected to deliver the first interest rate cut of 2025, the FOMC faces pressure to address a weakening job market despite persistent inflation.

Jindal Steel International has made a non-binding offer to acquire Thyssenkrupp’s struggling steel division, potentially reshaping the European steel market. Thyssenkrupp is carefully reviewing the proposal, considering implications for jobs, as it seeks to offload the steel business. Jindal aims to transform Thyssenkrupp into a leading low-emission steel producer, aligning with the German company’s green…

India is aggressively pursuing critical minerals for its energy transition. The National Critical Mineral Mission is central to this effort. Khanij Bidesh India Limited is negotiating deals in Zambia and Chile. This follows lithium block acquisitions in Argentina. India has MoUs with Japan, Peru, Australia, and the UAE. Domestic reforms and incentives are also in…

US retail spending surpassed expectations in August, increasing by 0.6 percent, despite ongoing trade tensions and tariffs. Motor vehicle sales and restaurant revenues saw gains, while furniture and department stores experienced declines, indicating a potential shift in discretionary spending. Economists are concerned about the long-term impact of tariffs on inflation and consumer prices.

Gold futures reached record highs as expectations of a US Federal Reserve rate cut and a weaker dollar fueled safe-haven buying. MCX October contracts hit Rs 1,10,563 per 10 grams, while December contracts climbed to Rs 1,11,655. Market participants await the Fed’s policy meeting and monitor geopolitical tensions, influencing gold’s upward trajectory.

Morgan Stanley projects the RBI to cut policy rates by 25 bps each in October and December, potentially bringing the terminal rate to 5%. This easing cycle is driven by sustained disinflation, with CPI inflation expected to average 2.4% in FY26, significantly below the RBI’s 4% target. Food price softness and easing input costs support…