GST rate cuts on cement and construction materials are expected to lower developers' input costs by 2-4%, potentially boosting housing demand, especially in the affordable and mid-market segments. This, coupled with the festive season's increased inquiries and stable interest rates, creates favorable conditions for new project launches and improved affordability. Developers aim to pass on cost benefits to homebuyers gradually.
A federal appeals court has blocked a legal challenge by 19 states and D.C. against the Trump administration's firing of 25,000 federal workers. The court ruled the states lacked standing to sue, as they couldn't prove direct harm from the terminations.
Syrian state media reported Israeli strikes near Homs, Latakia, and Palmyra, prompting condemnation from Syria's Foreign Ministry, which labeled the attacks a violation of sovereignty and regional stability. These strikes are part of an ongoing escalation, particularly since the Gaza war, despite recent U.S.-mediated de-escalation talks in southern Syria. The extent of the damage remains undisclosed.
Karbonsteel Engineering is set to launch its Initial Public Offering of Rs 59 crore. The IPO will open on Tuesday and close on September 11. The company aims to list on BSE SME platform on September 16. It plans to use the funds for facility expansion and debt repayment. The IPO includes a fresh issue and an offer for sale.
Taurian MPS, a crushing and screening equipment manufacturer, launches its Rs 42 crore IPO today, aiming to list on the NSE SME platform on September 16. The IPO consists of a fresh issue of 24.87 lakh shares, with proceeds allocated for machinery, R&D, working capital, and general corporate purposes. While revenue surged, profit after tax slipped due to rising expenses.
David Kennedy, who has been with the PC maker for 27 years, will serve in the interim role. He is currently senior vice president of Global Business Operations, Finance.
Jane Street Group is appealing a SEBI order accusing them of manipulative practices in India's derivatives market. The firm claims SEBI is withholding crucial documents needed for their defense, seeking a halt to regulatory action. The case has significant implications for global quantitative firms operating in India, as the court will consider whether SEBI is obstructing Jane Street's defense.
Asian stocks experienced gains on Tuesday, mirroring Wall Street's positive sentiment fueled by anticipation of Federal Reserve rate cuts. Japan and South Korea saw morning trading increases, while Australia's equities dipped. This follows increased expectations of US rate cuts, boosting stocks near record highs.
