Sebi’s recent clarification mandates listed companies disclose promoter relatives, including in-laws and their entities, in shareholding filings, even without direct ownership. This move, intended to enhance transparency, has sparked debate among India Inc. Lawyers criticize it as “absurd” and “impractical,” citing increased compliance burdens and the disclosure of sensitive personal information about unrelated individuals.
India’s IPO market is set to challenge 2024’s record fundraising, with nearly Rs 1.1 lakh crore already raised from 68 public offers in nine months. While over half of these IPOs generated profits for investors, Stallion India Fluorochemicals and Quality Power Electrical Equipments notably doubled investor wealth.
Pfizer agreed to lower prescription drug costs for Medicaid and invest $70 billion in US manufacturing, President Trump announced. This deal includes most-favoured-nation pricing for Medicaid, aiming to significantly reduce healthcare expenses. Pfizer’s shares surged following the announcement, which precedes new US tariffs on branded drugs.
The India-EFTA free trade agreement, effective Wednesday, will make Swiss products like wines and watches cheaper in India. It also boosts market access for India’s labor-intensive exports such as textiles and marine products in EFTA nations. This pact offers strategic benefits for India’s electronics sector and phased duty reductions on various goods.
Commerce Minister Piyush Goyal affirmed India’s commitment to self-reliance and resilient supply chains, countering global trade disruptions and weaponization, even as new US tariffs loom. He underscored India’s significant investment potential.
Russian Foreign Minister Sergey Lavrov defended India’s continued purchase of Russian oil, accusing the US of using the Ukraine conflict to eliminate competition. He emphasized India’s independent foreign policy and national interests, stating that trade decisions with other nations are solely for India and Russia to discuss, reflecting national pride and honor.
US consumer confidence plummeted in September to its lowest since April, driven by deepening concerns over rising inflation and a weakening job market. Inflation, now the top concern, increased in August, while job growth slowed significantly, with the unemployment rate hitting 4.3%. This decline underscores household challenges and may impact future Fed interest rate decisions.
US equities traded on Tuesday. Investors weighed company earnings against economy conditions. Consumer confidence and job opening reports are due. A government shutdown possibility adds to market concerns. The Federal Reserve reduced rates this month. Policymakers aim to support the job sector. Global markets showed performance variation. Bond yields eased.
India’s fiscal deficit hit 38.1 percent of the full-year Budget Estimates by August, amounting to Rs 5,98,153 crore. This gap reflects the Centre’s Rs 18.8 lakh crore expenditure against Rs 12.82 lakh crore in total receipts. With the full-year deficit projected at 4.4 percent of GDP, significant spending on interest payments and subsidies underscores the…
