NEW DELHI — On Tuesday, the Nifty 50 and BSE Sensex both went up by 0.39%, which is good news for Indian stocks. The Nifty 50 ended the day up 95.45 points at 24,868.6, and the BSE Sensex ended the day up 314.02 points at 80,101.32. The main reason for the market boom was that Infosys’s stock price went up a lot.
Important news about business and finance
After the government made changes to the GST system to make it easier to understand, a number of big corporations said they would lower the cost of their goods.
Bajaj Auto: The business will pass on the full advantage of the recent GST drop, which means that its two-wheelers will cost up to ₹20,000 less and its three-wheelers would cost up to ₹24,000 less.
Eicher Motors: Royal Enfield, which is owned by Eicher Motors, would likewise pass on the full GST benefit to its customers, lowering prices by up to ₹22,000 on all 350 cc models.
Earnings for the first quarter of FY26 are in the spotlight for Vikram Solar (Consolidated, YoY): The company did quite well, with sales going up 79.7% to ₹1,134 crore, up from ₹631 crore the year before. The company’s net profit also went up a lot, from ₹22.8 crore to ₹133 crore, and its EBITDA margin went up from 17.7% to 21.4%.
Important Changes in Business
Kotak Mahindra Bank: According to reports, Sumitomo Mitsui Banking Corp (SMBC) wants to sell its whole 1.65% interest in the bank, which is worth ₹6,166.4 crore and includes 3.28 lakh shares. The shares will be offered for ₹1,880, which is 4.1% less than the current market price.
Vadilal Industries: The company has made a big change in leadership by hiring Himanshu Kanwar as its first non-family CEO for its business in India.
Mahindra & Mahindra: The company’s exports in August went up 15% from the same month last year to 3,575 units, but its total sales went down 1% to 74,027 units.
Godrej Properties gave an update on a disagreement over their “Project Anandam” in Nagpur. An arbitration ruling has mostly turned down a claim for ₹1,366 crore but has partially accepted a claim for ₹240.8 crore. Godrej Properties is getting legal help to fight the award at the Bombay High Court.
The U.S. FDA has put Sun Pharma’s Halol facility under an import notice since it has been classed as “official action indicated.” Because of this, supplies from the facility will not be allowed into the U.S.
Suzuki Motor Corporation, the parent firm of Maruti Suzuki, has said that Maruti Suzuki India will start making flex fuel vehicles this fiscal year.
Urban business: The business got ₹854 crore from anchor investors on Tuesday, before its initial public offering (IPO) opened for public subscription. The range of prices is between ₹98 and ₹103 per share.
Shringar House of Mangalsutra and Dev Accelerator will both put their shares up for auction on Wednesday. The new issue IPO for Shringar House of Mangalsutra is worth ₹400.95 crore, and the pricing range is ₹155 to ₹165. Dev Accelerator, which rents out co-working spaces, has a new IPO for ₹143.35 crore with a price range of ₹56 to ₹61.
Money and Bonds
The Indian Rupee lost some of its early gains and ended the day 3 paise lower at 88.12 against the U.S. dollar. This was due to ongoing foreign portfolio outflows and concerns in global trade. The yield on the 10-year bond was up two basis points to 6.49%.