VRIGHT Exchange – Weekly Review & Preview | Sept. 1–5, 2025

The first week of September set the stage for a decisive month in India’s markets and economy. From corporate shakeups and regulatory green lights to global policy shifts and GST reform momentum, investors, analysts, and CEOs had plenty to track.

Here’s a look back at the week’s most important developments — and what lies ahead.

Corporate Pulse: Deals, Expansions, and Shifts
Indian corporates kicked off the month with a wave of strategic activity. Torrent Pharma announced a landmark ₹6,843 crore acquisition of a 26% stake in JB Chemicals, strengthening its position in specialty pharma.

Ceat moved into construction equipment tires by acquiring Michelin’s CAMSO compact line, while Puravankara secured rights to a marquee Malabar Hill redevelopment project in Mumbai, pegged at a revenue potential of ₹2,700 crore.

In the energy and infra space, Adani Power received approval to begin mining at its first captive coal block in Madhya Pradesh with a peak output capacity of 6.5 MTPA.

Bharat Forge purchased nearly 950 acres in Andhra Pradesh to establish a defense energetics complex, signaling a sharper tilt toward defense manufacturing.

NTPC, meanwhile, retired its older Tanda thermal units, shifting its generation mix.

Technology and digital services also made headlines. TCS struck a €550 million, seven-year deal with Tryg for a complete digital transformation.

Syrma SGS partnered with Italy’s Elemaster to strengthen India’s electronics design and manufacturing base.

Reliance, Google, and Meta each accelerated AI investments, signaling that the technology pivot is now fully mainstream in India.

On the financial side, SBI issued $500 million in global bonds via its London branch, UTI AMC named Vetri Subramaniam as its new MD & CEO, and Kotak Mahindra Bank secured RBI approval for Paritosh Kashyap as Executive Director.

Hero MotoCorp reported an 8% YoY rise in August two-wheeler sales, driven by scooter demand, even as Maruti Suzuki saw production fall 6.3% in the same month.

Foodtech major Swiggy nudged up delivery fees, hinting at a sharper path to profitability.

Economy and Policy: GST Reform Momentum Builds

The macro backdrop remains shaped by fiscal expansion and reform anticipation. India’s fiscal deficit widened in the April–July period, a byproduct of the government’s push on capital expenditure.

Market attention, however, stayed firmly on the September 3–4 GST Council meeting, where expectations of a simplified two-rate GST structure have dominated.

The move is viewed as a potential catalyst for demand recovery in autos, consumer durables, cement, and infra.

Insurance sector voices renewed calls for GST exemption on health policies, highlighting regulatory willingness to expand financial inclusion.

On the trade front, India began talks with Qatar to deepen bilateral engagement, while exporters in textiles and chemicals continued pivoting to newer markets amid US and EU tariff headwinds.

Markets: Optimism Meets Caution
Equity markets oscillated near record highs through the week. Nifty and Sensex saw volatility, with autos under pressure while IT and pharma gained on deal momentum and regulatory tailwinds.

Flows from foreign portfolio investors were mixed — banks and IT attracted inflows, while discretionary consumption saw outflows.
Brokerage commentary leaned bullish on large-caps like DLF, Voltas, Chola, TVS Motors, HDFC Life, and Reliance.

Fund houses flagged GST-driven demand boosts in consumer durables, cement, and autos. Yet caution crept in as well: BofA warned that with Nifty nearing its 25,000 target, upside is capped, while CLSA pointed to near-term stress in bank margins.

Global Cues: AI Race, Trade Tensions, Policy Watch
Globally, three storylines framed investor sentiment. China announced new AI chip and semiconductor initiatives even as banks flagged margin compression risks. US labor market data — non-farm payrolls and jobless claims — became critical inputs for Fed watchers.

In Europe, inflation concerns lingered but policy remained steady.
For Indian CEOs and strategists, the global AI race and trade shifts are becoming as critical as oil prices or exchange rates in shaping future decisions.

Regulation: Clearer, Stricter, Forward-Looking
The regulatory environment remained active. TRAI registered its first eight digital connectivity rating agencies to improve in-building network quality.

The Competition Commission cleared SMBC’s stake acquisition in YES Bank. NCLT approved the dissolution of the BHEL–Siemens JV, while RBI continued to strengthen bank leadership, approving new appointments at Kotak and UCO Bank.

These steps reflect a broader push toward digital transparency, financial consolidation, and stronger governance standards.

Preview: What to Watch Next Week
The week ahead promises to be equally eventful. Investors will watch closely for:

• Macro Data: India’s PMI readings, August auto sales, US inflation print, and China’s trade numbers.

• Policy Outcomes: The GST Council’s decision, likely to reset earnings expectations across multiple consumption-linked sectors.

• Corporate Events: Rights issue of Sarveshwar Foods and several key AGMs.

• Market Themes: Bank Nifty in focus amid concerns over NIM compression.

• Global Factors: Fed commentary, crude oil price trends, and China’s AI/semiconductor policy rollouts.

Bottom-line
The first week of September has reinforced India’s dual narrative — structural reforms and corporate resilience at home, tempered by external uncertainties abroad. For investors, analysts, and CEOs, the message is clear: keep one eye on the GST Council’s reform blueprint and another on the global AI and trade shifts shaping the next growth cycle.

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