Indian automakers are experiencing a significant boost due to the government s decision to cut consumption taxes, leading to a surge in market value. The reduction in Goods and Services Tax (GST) on passenger vehicles, making them more affordable, is expected to drive demand, particularly during the upcoming festival season. Mahindra & Mahindra, Eicher Motors, and TVS Motor Co.

Morgan Stanley is optimistic about Aditya Birla Group s retail ventures, initiating coverage on Aditya Birla Lifestyle Brands Ltd (ABLBL) with an "Overweight" rating, projecting a 23% upside. Simultaneously, Aditya Birla Fashion and Retail Ltd (ABFRL) was upgraded to "Overweight," anticipating a 53% potential increase. This upgrade is due to improved profitability.

Global bonds are rallying, with Bloomberg s GlobalAgg Index hitting its highest level since March 2022, fueled by cooling US labor data and expectations of Federal Reserve rate cuts. Central banks are reducing borrowing costs amid easing inflation and labor market concerns. However, longer-dated bonds face pressure due to fiscal risks in France, the UK, and Japan.

Bitcoin is trading steadily near $112K, while Ethereum hovers around $4.3K, buoyed by hopes of U.S. rate cuts and institutional buying. Analysts suggest September is a crucial month for crypto, with the SEC easing compliance and Nasdaq exploring tokenized securities. Market sentiment balances optimism with caution amid tightening regulations and ongoing innovation.

Bank Indonesia acted to stabilise markets. This followed the unexpected removal of Finance Minister Sri Mulyani Indrawati. The move triggered a selloff in the Rupiah and Indonesian bonds. Bank Indonesia bought longer-dated government bonds. They also intervened in the foreign exchange market. This was to ensure the Rupiah s exchange rate aligned with fundamentals. The interventions aimed to calm investor concerns.

Permira and Blackstone Inc. are acquiring a $525 million minority stake in Property Finder, a Dubai-based classifieds firm, signaling strong investor confidence in the emirate s real estate market. General Atlantic, an existing investor, will partially exit but remain a significant shareholder.

Sundaram Home Finance expands into Karnataka, targeting Tier II and III towns with 8-10 new branches. The company aims to disburse Rs 60 crore in the first year, focusing on small business loans and affordable housing finance. This move aligns with the government s push for affordable housing, tapping into the segment s growing credit demand.

The Goods and Services Tax reforms are set to benefit Adani Group companies. Tax rate cuts on cement and renewable energy equipment are expected. Ambuja Cements and ACC could see stronger demand. Adani Green Energy may experience lower project costs. Adani Power is poised to gain from reduced coal costs. Adani Ports anticipates higher cargo volumes.

MosChip Technologies shares tumbled 10% on Tuesday following a 59% rally in seven sessions, driven by India’s semiconductor push and strong volumes. While technical indicators suggest overbought conditions, analysts say long-term investors can consider using short-term dips to build positions in the high-growth stock.

Five IPOs are set to open tomorrow across mainboard and SME platforms, with grey market premiums offering a glimpse of listing-day sentiment. Urban Company IPO leads with a 34% GMP, while others show steady interest. Galaxy Medicare IPO faces muted demand, hinting at a flat debut.