Jio Platforms Ltd filed its Draft Red Herring Prospectus with SEBI, clearing the regulatory hurdle for a September mega‑IPO. Industry watchers expect the listing, together with NSE’s upcoming issue, to reignite investor sentiment and jump‑start a stalled primary market pipeline.
The NSE's new Closing Auction Session caused Nifty 50 to close 200 points higher, driven by heavy buying in top stocks like ICICI Bank and Reliance. The move shows the 20‑minute auction can swing the benchmark when institutional orders concentrate, raising concerns about price discovery under SEBI’s new framework.
An Equirus Wealth survey of 8,300 Gulf‑based NRIs found almost 40% are trimming Indian property holdings while boosting equity and fixed‑deposit exposure. Even with geopolitical tension, 22% are upping their India allocation, signalling a durable capital flow into stocks and away from real estate.
The regulator agreed in principle to a Rs 1.49 trn settlement covering the long‑running co‑location and dark‑fibre disputes, requiring NSE to pay Rs 714.74 cr cash and adjust prior deposits. Clearing these penalties removes the final regulatory hurdle, paving the way for NSE’s long‑awaited public listing.
Meta ended its $100 million‑a‑year digital‑marketing outsourcing with Wipro, slashing the contract to about $75 million after AI‑powered automation made the work redundant. The cut benches roughly 200 Wipro staff and underscores how AI is reshaping Indian IT services, raising doubts about the sector’s growth outlook.
In the June quarter Ather sold 83,173 electric scooters, an 81% rise YoY, and posted its first positive EBITDA, making it the first new‑age EV two‑wheeler maker to break even at the operating level. The surge was fueled by a West‑Asia war‑driven EV boom and tighter cost control, signalling strong leverage as volumes scale.
The Finance Ministry has cleared a jump in the Employee Provident Fund wage ceiling from ₹15,000 to ₹25,000 per month. If the cabinet signs off, more salaried workers and firms will fall under mandatory PF and pension rules, expanding retirement savings reach. Implementation may start from FY27.
The HSBC Flash India Manufacturing PMI slipped to 53.5 in July, its weakest expansion since August 2021 and down from 54.2 in June. Slower new orders and output point to weakening domestic demand, while faster price rises raise inflation concerns, a warning flag for policymakers and investors.
The war in West Asia has pushed freight rates for coking coal and iron ore from $9.80 to $12.20 per tonne, inflating Indian steelmakers’ input costs. Because India still depends on imported fuel, LNG, and raw metals, the disruption lays bare a deeper energy‑security flaw in the sector. The report urges a shift from growth‑only policies to robust energy sourcing.
You’re caught up.
That was all 9 stories in the 4 August issue.