Economic , Corporate & Market Updates (Aug 16–18, 2025)

Trade & Economy

• U.S.–India Trade Talks Cancelled (Aug 16):
The U.S. abruptly called off trade negotiations scheduled for Aug 25–29 in New Delhi, just days before punitive tariff hikes (up to 50% on Indian exports) take effect on Aug 27. The setback delays progress on a proposed trade pact and heightens bilateral trade tensions.

Policy & Tax Reform

• Historic GST Overhaul Announced (Aug 17):
PM Modi unveiled India’s most significant tax reform since 2017:

o 28% slab eliminated
o 12% bracket items moved to 5%
o Expected revenue shortfall: ~$20B annually

o Macroeconomic impact: Boost of ~0.6 percentage points to GDP growth, stronger consumer sentiment, and improved investor confidence amidst U.S. trade headwinds.

• Independence Day Reform Package:
PM Modi also announced a ₹1 lakh crore employment generation plan, with reforms targeting defence, technology, and manufacturing.
Rollout expected by Diwali.

Markets & Equities
• Markets Rally on GST Reforms (Aug 18):

Equity benchmarks surged:
o Nifty 50: +1.51% to 25,003.9
o Sensex: +1.34% to 81,683
o Small- & mid-cap indices: +1.3–1.5%

Sectoral Highlights:
o Autos: Soared ~4.5% (Maruti +7.3%, Hero MotoCorp +8.5%)
o Consumer goods, cement, retail, financials: Strong rebound on improved outlook and S&P credit upgrades
o Metals & autos: Further buoyed by easing oil prices and India’s stable macro backdrop

• Global Market Sentiment:
o Jefferies strategist Christopher Wood advised investors to “buy India, not sell”, citing resilience despite tariff concerns.
o MSCI India continues to lag global peers (+18.9% in 2025), highlighting the value of international diversification.

Startups & Investments
• Indian Startups Raised $346M (Aug 11–16):
30 startups across healthcare, fintech, and consumer sectors secured fresh capital. Truemeds led funding activity.
Industry & Regional Development

• Swadeshi Campaign Launch (From Aug 27):
Jharkhand’s FJCCI will roll out a self-reliance retail drive, with shops displaying “Only Swadeshi Goods Sold Here” to boost local consumption under the Atmanirbhar Bharat vision.

Company Results & Earnings (Q1FY26)
• Borosil (Consolidated, YoY)
o Revenue: ↑ 5.2% to ₹233 Cr (vs ₹221 Cr)
o EBITDA: ↑ 11.7% to ₹37.3 Cr (vs ₹33.4 Cr)
o Margin: 16% (vs 15.1%)
o Net Profit: ↑ 87.4% to ₹17.4 Cr (vs ₹9.3 Cr)
• INOX Green Energy (Consolidated, YoY)
o Revenue: ↑ 10.5% to ₹56.2 Cr (vs ₹50.9 Cr)
o EBITDA: ↓ 63.8% to ₹6.1 Cr (vs ₹16.9 Cr)
o Margin: 11% (vs 33.3%)
o Net Profit: ₹22 Cr (vs ₹3.8 Cr)
• Zaggle Prepaid (Consolidated, QoQ)
o Revenue: ↓ 19.5% to ₹332 Cr (vs ₹412 Cr)
o EBITDA: ↓ 15.6% to ₹30.4 Cr (vs ₹36 Cr)
o Margin: 9.2% (vs 8.7%)
o Net Profit: ↓ 16% to ₹26.1 Cr (vs ₹31.1 Cr)
• Hindustan Oil (Consolidated, QoQ)
o Revenue: ↑ 43.5% to ₹85.5 Cr (vs ₹59.6 Cr)
o EBITDA: ↑ 86% to ₹39 Cr (vs ₹20.9 Cr)
o Margin: 45.6% (vs 35.2%)
o Net Profit: ↓ 14.4% to ₹43.8 Cr (vs ₹51.2 Cr)
• Inox Wind (Consolidated, YoY)
o Revenue: ↑ 29.2% to ₹826 Cr (vs ₹640 Cr)
o EBITDA: ↑ 36.5% to ₹184 Cr (vs ₹135 Cr)
o Margin: 22.2% (vs 21%)
o Net Profit: ₹106 Cr (vs ₹10.3 Cr)
• Ahluwalia Contracts (Consolidated, YoY)
o Revenue: ↑ 9.3% to ₹1,005 Cr (vs ₹919 Cr)
o EBITDA: ↑ 42.8% to ₹86.3 Cr (vs ₹60.5 Cr)
o Margin: 8.6% (vs 6.6%)
o Net Profit: ↑ 67.6% to ₹51.2 Cr (vs ₹30.6 Cr)
• Tips Films (YoY)
o Revenue: ₹95.4 Cr (vs ₹12.4 Cr)
o EBITDA: ₹7.1 Cr (vs loss ₹6.7 Cr)
o Margin: 7.4%
o Net Profit: ₹4.7 Cr (vs loss ₹6.8 Cr)
• Glenmark Pharma (Consolidated, YoY)
o Revenue: ↑ 0.6% to ₹3,264 Cr (vs ₹3,244 Cr)
o EBITDA: ↓ 1.3% to ₹581 Cr (vs ₹588 Cr)
o Margin: 17.8% (vs 18.1%)
o Net Profit: ↓ 86.2% to ₹46.8 Cr (vs ₹340 Cr)

Corporate Announcements & Policy Updates
• Ola Electric Mobility: Launched “India Inside” vision at Sankalp 2025; showcased:

o Indigenous 4680 Bharat Cell
o Rare-earth-free ferrite motor integrated into vehicles
• Alembic Pharma: Receives USFDA final approval for Tretinoin Cream USP, 0.025% for acne treatment.
• KPIT Technologies: Paid $51M initial consideration to acquire Caresoft Global Tech, Caresoft Engg, and CAREGLOTECH.

• Amara Raja Energy & Mobility:
o Giga Cell Plant operations to commence in Q2–Q3 FY27
o Targeting 16 GW capacity by FY30
• Medplus Health Services: Subsidiary received suspension order for a drug license at a Telangana store.

Banking & Financials
• SBI: S&P Global Ratings upgraded rating to BBB/Stable/A-2 (from BBB-/Positive/A-3).
• Indian Banks & NBFCs: S&P upgrades ratings of 7 banks & 3 finance companies to BBB from BBB-, including:
o HDFC Bank, ICICI Bank, SBI, Axis Bank, Kotak Bank, Union Bank, Bajaj Finance, L&T Finance.

Other Key Corporate Developments
• Bikaji Foods: Reported a fire accident at Bihar unit; no casualties, situation under control.
• Mahanagar Gas: Completed amalgamation of wholly-owned subsidiary Unison Enviro Pvt. Ltd.; effective Aug 16 post NCLT approval