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Shares of Biocon Ltd rose 2% to Rs 361.25 on the BSE after its subsidiary, Biocon Biologics, received U.S. FDA approval for two denosumab biosimilars, Bosaya and Aukelso. The regulator also granted provisional interchangeability for both drugs, allowing pharmacy-level substitution, which could support broader market adoption and strengthen Biocon’s position in the biosimilars segment.

The US Fed cut rates by 25 bps, starting its first easing cycle of the year to support a slowing labour market. Markets expect multiple cuts through 2025–26, though the outlook hinges on inflation and growth—raising questions for Indian equities.

The VMS TMT IPO is a fresh issue of 1.5 crore equity shares, targeting to raise up to Rs 148.5 crore at the top end of its price band. Retail investors can apply for a minimum of 150 shares, with additional bids in multiples, making the minimum investment Rs 14,850 at the highest price.

Prateek Agarwal sees Indian markets balancing tariff uncertainty and GST cuts, with growth-focused sectors like EVs, renewables, defence, and manufacturing offering strong potential. Positive sentiment and resilient domestic flows support cautious optimism

Sumitomo Mitsui Banking Corporation (SMBC) is set to increase its stake in Yes Bank to 24.2% through two transactions: acquiring 4.2% from a Carlyle Group affiliate for Rs 2,850 crore and an earlier purchase of 13.18% from SBI for Rs 9,000 crore. This move underscores SMBC s commitment to India, while SBI will retain a 10% stake in Yes Bank.

Net interest margins (NIMs), a key measure of core profitability, at Indian banks are poised to rise after hitting a low in the second quarter. Analysts say the increasing likelihood of stable policy rates should help lenders capitalize on lower costs in the current rate-easing cycle.

On Wednesday, the insurance regulator directed insurers to pass on the benefits of the GST removal on life and health insurance premiums to customers, noting that the move could improve affordability and broaden access.

SEBI is planning to broaden institutional involvement in the commodity derivatives market by engaging with the government to permit banks, insurers, and pension funds to participate in trading. The regulator is also mulling over allowing foreign portfolio investors to trade in specific non-agricultural commodity derivative contracts.