SPDR Dow Jones Industrial Average ETF

SPDR S&P 500 ETF Trust

Invesco QQQ Trust Series 1

BrokeCoin is a meme-meets-utility cryptocurrency project operating under the ethos of Transparency, Community, and Respect. Formally registered as an LLC in Wyoming, USA, BrokeCoin is building an expansive ecosystem that combines light-hearted spirit of meme culture with real-world crypto utilities—spanning gaming, staking, NFTs, web services, and an e-commerce platform. Brokecoin believes in developing useful and interesting meme-inspired utilities to both service the crypto industry, and generate value for holders.

Brokecoin

Brokecoin is trending as the community celebrates recent ATHs and anticipates a listing on Bifinance. A buy contest is currently live, and excitement is building towards a 5M MC airdrop. Community members emphasize the project's strong foundation and consistent growth over the past nine months.

DMTC or DIAMOND The Cat Coin is a viral meme coin on Solana Blockchain, Based in Thailand and Global and Based on a true story about my lovely cat(DIAMOND) and made by love, I just want my cat to be immortal in this whole world until I die that's a first idea of this project start. We're start from $2,000 Market cap and hit All time high at $10.9 million, please come to check our project and let's DMTC get list on Coingecko to let's everyone in this whole world know DMTC.

DIAMOND The Cat Coin

DIAMOND The Cat Coin ($DMTC.X) is trending amid community excitement and bullish sentiment. Investors are citing positive chart signals and anticipating a potential breakout, leading to increased buying activity. The community is urging others to buy in, anticipating significant upward movement.

Pump.fun

Pump.fun ($PUMP.X) is trending as community members discuss its potential as a new altcoin leader, drawing comparisons to the 2021 Dogecoin frenzy. Bullish sentiment suggests traders are optimistic about near-term gains, while some express concerns about investing in the platform's meme coins. The coin is gaining attention as traders explore its role within the Solana meme token ecosystem.

"What's Updog?" is a Community Led token.

UpDog

UpDog is trending as the community rallies around the meme coin built on Solana. Many users are playfully asking "What's Updog?" while others highlight its charitable donations to animal shelters as a key differentiator in the dog-themed crypto space.

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. It is a layer 1 network that offers fast speeds and affordable costs. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

Solana

Solana is trending amid overall positive sentiment in the crypto market and speculation around potential ETF approvals, with the community actively discussing new memecoins and potential price targets. News of Galaxy Digital acquiring a substantial amount of SOL has further fueled optimism, as the community anticipates significant growth and adoption within the Solana ecosystem.

Avantis is the largest RWA perps DEX in DeFi, built on and backed by Base. Avantis allows users to trade crypto and real-world assets (RWAs), including FX, commodities, indices, and equities. Backed by Pantera and Coinbase, Avantis is the largest DEX on Base by volumes, and brings institutional-grade products to DeFi, letting users trade with up to 500x leverage in a transparent, permissionless environment.  Avantis is best known for launching zero-fee perpetuals (ZFP) — a first-of-its-kind primitive where traders only pay fees if they profit. They've also brought leveraged RWAs onchain. This has driven explosive growth: over $20B+ in cumulative volume and 15M+ run-rate revenues since Febrruary 2024.

Avantis

Avantis ($AVNT.X) is trending as traders discuss its potential, drawing comparisons to $MYX.X and highlighting support from Base and Pantera Capital. Community members are actively speculating on price targets and entry points, with some pointing to its listing on Coinbase and potential for trading RWA assets as catalysts.

Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+ and TMTG News. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.

Trump Media & Technology Group Corp.

Trump Media is trending amid heated online discussions following the death of Charlie Kirk, with community members expressing strong opinions and accusations related to political affiliations and violence. The conversations reflect broader societal divisions and highlight the challenges of navigating differing viewpoints in the current political climate. Some users are calling for a purge of the message board due to the extreme and disturbing content.

Root, Inc. is a technology insurance company, which engages in the provision of insurance services. It offers mobile telematics and technology platforms to segment individual risk based on complex behavioral data and customer experience to make pricing decisions and grow businesses. It provides insurance products and services in the United States. The company was founded by Alexander E. Timm and Daniel Manges in February 2015 and is headquartered in Columbus, OH.

Root Inc - Ordinary Shares - Class A

Root Inc

ROOT is trending as investors debate its valuation and potential catalysts, with discussions focusing on upcoming warrant expirations and possible impacts from partnerships. Community members are actively weighing bullish arguments around growth and disruptive technology against bearish concerns about profitability and past performance. Overall sentiment appears mixed, with some anticipating a significant price movement soon.

ZoraAI agents are designed to take the complexity out of everyday tasks, leaving you with more time and energy to focus on what matters most. With their powerful automation and adaptability, your life and work will become more efficient and effortless. With ZoraAI, you’re in control. The customizable agents feature lets you mix and match your favorite tools and capabilities from different agents to build one that’s perfectly tailored to your needs. Whether you want a multitasking powerhouse or a focused specialist, your personalized agent is designed to work exactly how you want it to—no coding required.

Zoracles

Zoracles ($ZORA.X) is trending amidst volatile price action and discussions about its potential as a social media token, with some comparing it to an "Instagram of crypto." The community is actively debating potential price breakouts and resistance levels, while others express concerns about recent sell-offs and whether it's a pump-and-dump scheme. Some users are optimistic about the token's long-term potential, especially with upcoming catalysts and the possibility of integration with major social media platforms.

ARS Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development of a novel, potentially first-in-class product candidate, neffy, for the emergency treatment of Type I allergic reactions including anaphylaxis. Its product includes Epinephrine Nasal Spray. The company was founded by Richard Lowenthal, Robert Bell, and Sarina Tanimoto on August 5, 2015 and is headquartered in San Diego, CA.

ARS Pharmaceuticals Inc

ARS Pharmaceuticals ($SPRY) is trending amid discussions about its newly approved needle-free epinephrine nasal spray, Neffy, and its potential to disrupt the existing EpiPen market. Community members are weighing the competitive landscape, particularly against Aquestive Therapeutics ($AQST) and potential generic threats, while assessing Neffy's commercial rollout and market adoption. Bullish sentiment is fueled by analysts initiating coverage with buy ratings and high price targets, balanced by concerns over insider selling and market volatility.

statis crypto Watchlist

Bitcoin

Ethereum

Ripple

Dogecoin

Cardano

statis IN Watchlist

Nifty 50

Nifty Bank

Reliance Industries Ltd.

Zomato Ltd.

Tata Consultancy Services

Tata Motors Ltd.

HDFC Bank Ltd.

ITC Ltd.

Adani Enterprises Ltd

Axis Bank Ltd

Bajaj Finance Ltd

statis US Watchlist

SPDR S&P 500 ETF

Apple Inc.

Tesla Inc

Microsoft Corporation

NVIDIA Corp

 Hey, I want to invite you to join Stocktwits. It’s the largest global community of active traders. You’ll get access to the real-time market insights, news, discussion and much more! You can sign up using my unique link below 
 


 has invited you to join Stocktwits

In the run-up to the implementation of the new GST rates applicable from 22 September, the Central Board of Indirect Taxes and Customs (CBIC) has issued a key circular clarifying the Goods and Services Tax (GST) treatment of post-sale discounts, bringing long-awaited certainty to one of the most litigated areas of indirect taxation. 
The guidance settles disputes around whether trade discounts should be treated as services, whether dealers can continue to claim input tax credit (ITC), and how promotional arrangements must be structured for tax purposes. 
What the circular says 
Upon being approached by industry, the CBIC has drawn a sharp line between routine trade discounts and promotional services. In transactions where manufacturers and dealers operate on a principal-to-principal basis, discounts passed on to dealers are to be treated as a mere reduction in the value of goods, not as consideration for any independent supply of services. 
At the same time, the circular clarifies that issuing purely financial or commercial credit notes will not impact the ITC entitlement of recipients, since the underlying tax liability remains unchanged. This addresses a long-standing compliance uncertainty for dealers who feared losing ITC when suppliers adjusted prices post-sale. 
However, GST will be applicable where there is a separate arrangement for promotional activities — such as co-branding, advertising campaigns, or sales drives — and where specific consideration is defined in the agreement. 
Industry reactions: Relief coupled with caution 
The circular has been welcomed across the board by tax experts who see it as a pragmatic step towards aligning tax administration with commercial practice. 
Manoj Mishra, Partner and Tax Controversy Management Leader at Grant Thornton Bharat, said the clarification resolves compliance worries for businesses. “By affirming that input tax credit will remain unaffected when financial or commercial credit notes are issued, it removes a major compliance uncertainty for dealers. The guidance also settles the debate around marketing support, clarifying that post-sale discounts are not taxable as services unless the dealer is contractually bound to perform defined promotional activities.” 
Mishra noted that the onus now shifts to businesses to maintain proper documentation of agreements and credit notes, ensuring that customer-level pricing arrangements are transparently captured. 
Saurabh Agarwal, Tax Partner at EY, underscored that the distinction between discounts and services is vital. “The circular correctly distinguishes between a genuine trade discount and a separate service. It affirms that where manufacturers and dealers operate on a principal-to-principal basis, discounts provided by the manufacturer to the dealer, intended solely for competitive pricing and sales promotion, are not a consideration for any independent service. This crucial distinction resolves a key pain point and brings the tax treatment in line with commercial practice.” 
He added that the affirmation on ITC retention is “a major step towards reducing litigation” and that companies should reassess contracts to ensure promotional activities are clearly ring-fenced. 
Abhishek Jain, Partner &amp; National Head, Indirect Tax at KPMG in India, called it a much-needed clarification for industry. “ The clarification will help industry and trade execute such transactions with greater certainty and reduce disputes around what has long been a contentious issue. At the same time, for scenarios involving agreements with end customers for passing on specific benefits to end-consumers through dealers in the supply chain, businesses may need to carefully revisit and evaluate their positions.” 
 
<div dir="auto">According to Rajat Mohan, Senior Partner, AMRG &amp; Associates, the clarification draws a much-needed line of distinction—routine trade discounts will remain outside the ambit of GST as simple price reductions, while situations where manufacturers directly subsidise lower prices for end customers will be treated as additional consideration, attracting GST.</div> 
<div dir="auto"></div> 
<div dir="auto">Similarly, dealer incentives in the form of discounts are not to be confused with payments for promotional services, unless there is a separate contractual arrangement for defined activities such as advertising, co-branding, or exhibitions, which would rightly fall under the tax net, he added.</div> 
<div dir="auto"></div> 
<div dir="auto">"This circular holds direct relevance for manufacturers, dealers, distributors, and retailers across key sectors such as FMCG, automobiles, chemicals, and heavy industry, where post-sale discounts and credit adjustments are integral to business practices. By clarifying the tax position on credits and discounts passed down the supply chain, it not only ensures greater certainty but also reduces the risk of disputes." he said.</div> 
<div id="x_ms-outlook-mobile-body-separator-line" dir="auto" data-applydefaultfontstyles="true"></div> 
Why it matters 
Since the introduction of GST, the tax treatment of post-sale discounts has remained contentious. Disputes often arose when tax officers argued that discounts linked to sales performance or market share amounted to a service rendered by dealers to manufacturers, making them taxable. Similarly, the denial of ITC in cases where credit notes were issued created financial uncertainty for businesses. 
By clarifying these aspects, the CBIC aims to bring certainty, reduce litigation, and ensure that tax administration does not disrupt commercial arrangements. Yet, tax practitioners caution that businesses will need to carefully draft and maintain contracts to ensure the benefit of these clarifications, particularly in arrangements involving rebates tied to end-customer pricing or promotional obligations. 
The road ahead 
The circular marks another step in the government’s broader effort to streamline GST compliance and reduce disputes. While the clarification is expected to ease industry concerns significantly, experts say its effectiveness will depend on consistent interpretation by field officers and rigorous documentation by businesses. 
For now, the industry views the move as a pragmatic alignment of tax treatment with market practice — a shift likely to save companies both compliance costs and litigation headaches.

CBIC clarifies GST rules on post-sale discounts, easing industry litigation risks

Postsale discounts given by manufacturers to dealers intended solely for competitive pricing and promoting sales will not be subject to GST, the Central Board of Indirect Taxes and Customs (CBIC) said.

Equity

Public sector banks have moved beyond a phase of survival and stabilisation and are now expected to emerge as drivers of growth, innovation and leadership in the journey towards Viksit Bharat 2047, said Secretary of Department of Financial Services (DFS) M Nagaraju. 
 
Speaking at the two-day PSB Manthan 2025, which concluded on Saturday, Nagaraju stressed that state-owned banks must aspire for global competitiveness, enhance governance, operational resilience, and position themselves as champions across both traditional and emerging sectors. 
 
The event, organised by DFS, was themed around reimagining public sector banking for a developed India and brought together senior bank leadership, regulators, industry specialists, academics, technologists and practitioners. Discussions centred on customer service, governance, innovation, credit expansion, risk management and modernisation of technology. 
 
According to the finance ministry, participants emphasised the adoption of next-generation technologies, development of shared infrastructure and the creation of hyper-personalised financial products. Speakers called for public sector banks to move away from legacy systems and adopt agile, interoperable platforms that can provide seamless digital services, boost cyber resilience and integrate smoothly with India's expanding digital public infrastructure. 
 
The deliberations recommended robust governance frameworks for artificial intelligence, with a focus on managing model risks, promoting responsible AI use and putting safeguards in place to address emerging threats. Experts further highlighted the importance of working with technology partners who maintain openness and interoperability, reducing dependence on single vendors while enabling long-term innovation and flexibility. 
 
Participants highlighted the need for closer collaboration between banks, fintechs, academia and entrepreneurs to strengthen capabilities and accelerate innovation. They also reiterated the pivotal role of public sector banks in advancing financial inclusion and supporting national priorities, from agriculture, MSMEs, housing and infrastructure to fast-growing areas such as renewable energy and digital industries.

PSB Manthan 2025: PSU banks to play a larger role towards Viksit Bharat 2047, says DFS Secretary

PSB Manthan 2025 was organised by the Department of Financial Services and was themed around reimagining public sector banking for a developed India to enhance governance, innovation, credit expansion, risk management and modernisation of technology

The National Company Law Tribunal (NCLT) has directed the erstwhile promoters of Hindusthan National Glass &amp; Industries Ltd (HNG) to return ₹42.46 crore, misappropriated by them, to corporate debtors within two months. 
 
The Kolkata bench of the NCLT also ordered the Resolution Professional of the debt-ridden company to institute criminal prosecution against suspended directors Sanjay Somany and Mukul Somany under Section 69 of the Insolvency and Bankruptcy Code. 
 
The tribunal found the transactions of ₹42.46 crore were made with the intent to defraud creditors and ordered repayment within two months, failing which recovery will be made from their properties, the order said. 
 
The order, dated September 12, came on an application filed by the Resolution Professional (RP) of HNG, Girish Juneja, following a transaction audit by BDO India. 
 
Transactions auditor BDO India has detected three potentially fraudulent or wrongful transactions worth ₹63.34 crore under the erstwhile management of Hindusthan National Glass &amp; Industries Ltd (HNG) during the three financial years 2019-20 to 2021-22. 
 
The audit highlighted suspect payments between FY20 and FY22, including ₹15.10 crore to Rafbrix International, ₹5.78 crore to Maithan Ceramic Ltd, and ₹42.46 crore to Durvish Vyapaar Pvt Ltd. 
 
The tribunal said the Durvish Vyapaar transactions represented fraudulent diversion of funds, with the company having no valid office, invoices, or evidence of procurement. 
 
"The misappropriation was done with the intent to defraud creditors," the bench observed, while directing criminal proceedings under Section 69 of the IBC. 
 
"Additionally, the applicant is also directed to institute a criminal prosecution under Section 69 of IBC, 2016, in accordance with the provisions of law against the Respondent," the order said. 
 
Debt-ridden HNG was admitted for resolution by the National Company Law Tribunal (NCLT) in October 2021 following a petition by lenders. 
 
In August 2025, the NCLT's Kolkata bench approved the resolution plan submitted by Independent Sugar Corporation Ltd (INSCO) for the revival of HNG following the Supreme Court direction. 
 
At the end of this 45-day monitoring phase, complete control of HNG will pass on to the Madhvani Group. The Monitoring Committee will step down, and a new board nominated by the Group will take charge. 
 
According to the NCLT order, the resolution plan involves a total investment of ₹2,250 crore, comprising ₹1,900 crore in upfront cash, ₹350 crore deferred over three years to CoC and a 5 per cent equity to creditors.

NCLT orders ex-promoters of HNG to repay defrauded amount to debtors

The National Company Law Tribunal (NCLT) has directed the erstwhile promoters of Hindusthan National Glass & Industries Ltd (HNG) to return Rs 42.46 crore, misappropriated by them, to corporate debtors within two months.

India's Goods and Services Tax (GST), which was implemented in 2017, combined dozens of state and federal levies into a single indirect tax system. However, its intricacy—several tax slabs, unclear classifications, delayed refunds, and controversial state revenues— led to calls for reform. 
 
As a strategic development of the first 2017 tax regime, India's GST Council authorised a <a href="https://www.cnbctv18.com/business/finance/gst-2-0-explained-key-changes-impact-on-taxpayers-overhaul-19672400.htm">‘GST 2.0’ r</a>eform on September 3, with the goals of simplifying the tax structure, addressing systemic inefficiencies, and boosting domestic economic activity. With effect from September 22, this GST reform is the biggest change to India's tax structure since the initial GST introduction. 
 
Rationalisation of rate structure 
 
The primary objective of GST 2.0 is the rationalisation of the rate structure. There are four main consumer slabs under the current GST framework: 5%, 12%, 18%, and 28%. In addition, there are special rates and exclusions. 
 
This is reduced under the proposed reform to two major rates of 5% and 18%, and an additional 40% for luxury and ‘sin’ goods. This slab reduction aims to simplify categorising goods and services, eliminate litigation over whether an item is ‘sweet vs. savoury’ or ‘extrusion-based,’ and lower compliance expenses. 
 
Burden reduction on consumers and MSMEs 
 
Another important aspect is easing the burden on Micro, Small, and Medium Enterprises (MSMEs) and consumers. The tax brackets for many everyday items and necessities will drop, and some will even become tax-free. 
 
GST 2.0 lowers the tax rates on products like soaps, packaged meals, appliances, construction materials, and some household goods, which helps drive down prices. MSMEs are expected to gain from easier compliance, faster registrations, and more efficient refund procedures (particularly for exporters). 
 
Clarity in classification 
 
Classification clarity is yet another area that needs improvement. Confusing differences have long been a source of disagreement and ambiguity, such as those between similar commodities positioned in various slabs because of technical definitions. 
 
The goal of GST 2.0 is to deal with these irregularities and guarantee that usually comparable commodities are taxed similarly, without creating artificial divergence based on minor differences. 
 
Restoring inverted duty structures 
 
Taxes on yarn have decreased from 12% to 5% and on synthetic fibre from 18% to 5%. Fertilisers, including ammonia, nitric acid, and sulphuric acid, have also dropped from 18% to 5%. Cash flows for exporters and small manufacturers will improve as a result of these adjustments. 
 
Simplified refunds and filings 
 
For small and low-risk firms, registration must be completed within three days. 
 
Exporters, especially small exporters, are eligible for 90% upfront provisional refunds. AI-driven surveillance combined with end-to-end digital compliance to lower fraud, and the e-invoicing system was implemented in several domains. 
 
<a href="https://www.cnbctv18.com/business/finance/gst-2-0-explained-key-changes-impact-on-taxpayers-overhaul-19672400.htm">GST 2.0</a> is a bold and revolutionary step in India's tax history. The revisions are intended to help states, enterprises, and citizens by reducing rates on necessities, rationalising slabs, correcting duty anomalies, and making compliance simpler. 
 
The revisions emphasise the ‘Simple Tax, Better Life’ concept, which is a framework that is both business-friendly and citizen-centric.

How GST 2.0 could simplify India’s tax system

India's 'GST 2.0' reform was approved on September 3, and will be effective from September 22.

Research and ratings firm Crisil said that the headline inflation during 2025-26 is projected to be 3.2%, lower than its earlier estimate of 3.5%. 
 
In its latest report, Crisil said that the moderation implies a decline of 140 basis points in CPI inflation during this financial year, which is likely to give space for monetary easing. 
 
It said the RBI may cut rates by another 25 basis points this year. 
 
According to Crisil, lower inflation and reduced interest rates should increase domestic demand in the economy as global headwinds mount. 
 
The report also said that the excessive rains during the kharif season is a risk as it could cause disruptions in key horticulture and foodgrain-growing regions like Punjab which is facing its worst floods in four decades. 
 
CPI inflation inched up to 2.1% in August 2025, from 1.6% in July, moving above the RBI tolerance threshold of two per cent. 
 
Food inflation has started to move up from low levels but trails the headline inflation, the report said.

Crisil projects headline inflation at 3.2% during 2025-26

Research and ratings firm Crisil said that the headline inflation during 2025-26 is projected to be 3.2%, lower than its earlier estimate of 3.5%.

Indian jeweller Senco Gold &amp; Diamonds is seeking collaboration opportunities in Saudi Arabia's $8.3 billion luxury market as the company pursues Gulf expansion while targeting 20% domestic growth, its chief executive has said. 
 
Senco Gold took part in the three-day Saudi Arabia Jewellery Exhibition (SAJEX), which concluded on Friday. The trade show featured over 200 Indian exhibitors as India's gem and jewellery sector aims to reverse declining exports to one of the region's largest consumer markets. 
 
"Saudi Arabia is one of the largest consumer markets, especially when it comes to jewellery for the Gulf region. Unfortunately, in this global competitive scenario, jewellery from Turkey or other parts of the world has been able to capture a large market share while Indian jewellery has been on a downturn," Suvankar Sen, Managing Director and CEO of Senco Gold &amp; Diamonds, told PTI. 
 
Sen said SAJEX 2025 provided a platform for Indian jewellers to collaborate with Saudi designers under the kingdom's Vision 2030 initiative, which aims to diversify the economy beyond oil. 
 
The Kolkata-based public listed company is particularly focused on Saudi Arabia's younger demographic, which Sen said prefers "modern, lightweight, sleek jewellery" compared to traditional preferences of older generations. 
 
Senco sees potential in cross-border e-commerce, especially if India's recent EFTA Free Trade Agreement leads to similar arrangements with Saudi Arabia and reduced trade barriers. 
 
"If the free trade pact and the opening up of the economy, especially with gem and jewellery can happen in Saudi Arabia, I'm sure we can see huge opportunities," Sen said. 
 
However, he acknowledged that Saudi Arabia currently imposes some of the highest tariffs and taxation on jewellery imports, which acts as a hindrance to trade expansion. 
 
To meet growing demand for ethical luxury goods, Senco has launched lab-grown diamond jewellery under its Senes sub-brand and increased the use of recycled gold amid record-high gold prices. 
 
The company has also implemented solar power across stores and factories as part of environmental sustainability efforts. 
 
"When it comes to sustainability, there are three parts - environment, social and governance. Whatever business we do has to be long-term thinking," Sen said. 
 
Domestically, Senco has invested ₹700-800 crore in the current financial year, opening 10-12 new stores with 5-6 more in the pipeline. The company reported a turnover of ₹6,400 crore last year and is targeting 20% growth this fiscal. 
 
"Q1 was very good with 30% year-on-year growth. Q2 has been slow, so we are expecting 15-16% growth year-to-date. But overall, we are targeting 20% growth for the year," Sen said. 
 
Diamond jewellery sales have outpaced gold jewellery due to high gold prices, Sen added. 
 
The company plans to open 16-18 stores this fiscal year as part of sustainable annual growth of 18-20%. 
 
Sen said SAJEX represented part of a broader strategy to reduce dependence on Western markets and build "Made in India" jewellery as a premium brand in Gulf markets. 
 
"We need to work on marketing, brand building, and collaboration to make this market very big. Using this as a base, we can then look at exporting to other Gulf markets," he said. 
 
The company is open to joint ventures and technology-sharing arrangements with Saudi firms to benefit from the kingdom's economic diversification while showcasing India's traditional jewellery craftsmanship. 
 
SAJEX was organised by the Gem &amp; Jewellery Export Promotion Council (GJEPC) with support from the Ministry of Commerce and Industry to diversify export markets beyond traditional destinations.

Senco Gold aims for Gulf expansion, scouts for tie-ups in Saudi Arabia

Indian jeweller Senco Gold & Diamonds is seeking collaboration opportunities in Saudi Arabia's USD 8.3 billion luxury market as the company pursues Gulf expansion while targeting 20 per cent domestic growth, its chief executive has said.

The United States moved on Friday (September 12) to dismantle a "burdensome" federal programme that tracks greenhouse gas emissions across the US economy, the latest step by President Donald Trump's administration to undercut efforts against climate change. 
 
The Greenhouse Gas Reporting Program (GHGRP), launched in 2010, covers over 8,000 facilities, including power plants, fuel suppliers, and factories, that together account for 85-90% of the country's planet-warming pollution. 
 
Trump, who received hundreds of millions of dollars from the fossil fuel industry during his 2024 election campaign, has heavily promoted new oil, gas, and coal extraction while moving to suppress competition from solar and wind. 
 
"Alongside President Trump, EPA continues to live up to the promise of unleashing energy dominance that powers the American Dream," Environmental Protection Agency Administrator Lee Zeldin said in announcing the decision, which will undergo a public comment period before being finalised. 
 
Also read | <a href="https://www.cnbctv18.com/world/us-climate-assessment-thrown-into-doubt-as-trump-dismisses-authors-19596007.htm">US climate assessment thrown into doubt as Trump dismisses authors</a> 
 
"The Greenhouse Gas Reporting Program is nothing more than bureaucratic red tape that does nothing to improve air quality," Zeldin was quoted as saying. 
 
Although the programme was established through an act of Congress, the EPA argued it is not legally obliged to continue collecting the data, with the sole exception of methane emissions. 
 
A climate law passed in 2022 under Democratic president Joe Biden established a methane fee on oil and gas operations, but Republicans' recently enacted "Big Beautiful Bill" requires such reporting only from 2034. Accordingly, the EPA under Zeldin says it will suspend all data collection until then. 
 
"Again and again, this administration is trying to hide the data to hide the harms," Julie McNamara of the Union of Concerned Scientists told AFP. 
 
"If we can't say what a facility is doing, we can't hold that facility accountable," she added, warning that the lack of verifiable emissions data would undermine action at local, state, national, and international levels. 
 
Also read | <a href="https://www.cnbctv18.com/world/new-zealands-revised-green-action-policies-face-heat-from-climate-change-experts-19634112.htm">New Zealand takes a page from Trump's climate playbook</a> 
 
Democrats had anticipated the move after they obtained documents in the spring that indicated the change was planned. 
 
"For the past 15 years, the GHGRP has collected facility-level emissions data from over 8,000 facilities, supplying vital information to policymakers, scientists, investors, and the public," Democratic Senator Sheldon Whitehouse said in May. 
 
"These data inform our national GHG inventory, support international emissions reporting obligations, and serve as the de facto standard for many companies' climate disclosures in the absence of industry-wide methodologies." 
 
He added that the data had allowed US industry to market itself as cleaner than foreign competitors, and ending the programme would hand an advantage to China.

Emissions tracking halted! Trump’s latest proposal cuts costs, cripples efforts against climate change

A climate law passed in 2022 under ex-president Joe Biden established a methane fee on oil and gas operations, but Republicans' recently enacted "Big Beautiful Bill" requires such reporting only from 2034. Accordingly, the EPA under Zeldin says it will suspend all data collection until then.

The Reserve Bank on Friday (September 12) said nine Non-Banking Financial Companies (NBFCs), including PhonePe Technology Services and Aditya Birla Finance, have surrendered their certificate of registration due to various reasons. 
 
In another release, the central bank said it has cancelled the certificate of registration (CoR) of 31 NBFCs. 
 
PhonePe Technology Services Private Limited surrendered its CoR following its exit from the Non-Banking Financial Institution (NBFI) business. 
 
Also Read: <a href="https://www.cnbctv18.com/market/stocks/aditya-birla-capital-share-price-allots-rs-3400-crore-non-convertible-debentures-private-placement-19673170.htm">Aditya Birla Capital allots ₹3,400-crore NCDs on private placement</a> 
 
Aditya Birla Finance surrendered the certificate after amalgamation with parent company. 
 
The RBI also said the CoR issued to RBG Leasing and Credit Private Limited and Yashila Investment and Finance Company Private Limited has been restored after considering the orders passed by the Appellate Authority/Courts. 
 
The central bank advised the two NBFCs to adhere to the applicable provisions and guidelines/directions, including reporting requirements. 
 
Also Read: <a href="https://www.cnbctv18.com/economy/excl-insurance-cos-flag-cost-concerns-in-gst-transition-cbic-asks-firms-to-first-pass-on-benefits-19673233.htm">Excl: Insurance cos flag cost concerns in GST transition; CBIC asks firms to first pass on benefits</a>

Nine NBFCs surrender certificate of registration: RBI

RBI announces nine NBFCs, including PhonePe and Aditya Birla Finance, surrendered registration; details on cancellations and restorations.

India’s REIT market is no longer a niche experiment. What began with a single REIT listing in 2019 has, in six years, built a market that delivers distribution yields of 6–7%, attracts global capital and still carries large untapped potential—a rare combination that the new ANAROCK–CREDAI report details in full. The message is simple: the engine is running, the garage is full of vehicles, and only a few have been driven onto the highway so far. 
 
A strong, data-backed starting point 
 
The report places the Indian REIT market’s market capitalisation at around $18 billion as of August 2025, with a projection to cross $25 billion by 2030 as more assets are securitised and new REITs list. These headline numbers are backed by robust operating fundamentals: Grade A office demand has regained momentum, with net absorption of roughly 27 million sq ft in H1 2025 — already more than half the 2024 full-year tally — underpinning cash flow stability for office-centric REITs. 
 
This yield premium (6–7% vs. lower yields in mature markets) reflects a trade-off many global investors find attractive: higher running income today combined with room for capital upside via rental escalation, refurbishment and re-positioning of ageing stock. The report notes typical rental escalation assumptions of 3–5% per annum alongside potential uplift from asset modernisation. 
 
Why India still looks like opportunity territory 
 
Perhaps the most striking finding: listed REITs account for only 20% of institutional real estate in India — a share that is tiny compared with the US (96%) or Singapore (55%). Put differently, of approximately 520 million sq ft of REIT-worthy Grade A office inventory across the top seven cities, only 32% (166 million sq ft) is currently listed. That gap is the core of the upside case: more assets can be monetised, diversified and offered to public investors — if sponsors choose to do so. 
 
Geography matters too. Southern metros (Bengaluru, Hyderabad, Chennai) hold 313 million sq ft of the REIT-worthy stock but have low listing penetration. This leaves city-specific plays for investors and room for further REIT formation beyond the top three sponsors that currently dominate market share. 
 
Diversification: logistics and data centres move centre stage 
 
The report flags a clear structural shift: Indian REITs are office-heavy today, but both industrial/logistics and data centre assets are fast becoming REITable. Globally, data-centre REITs were valued at about $250 billion in 2024 and are expected to double in seven years; India’s digital adoption, cloud migration and AI workloads make the country a natural candidate to capture a slice of that growth. 
 
The ANAROCK–CREDAI analysis points to a 60% YoY surge in industrial and logistics leasing in H1 2025, 30% YoY growth in warehousing absorption, and a 3x jump in institutional investment into logistics and warehousing (to about $2.5 billion in 2024). Those are not just flow numbers — they signal a maturing investment pipeline that REITs can tap to broaden income streams and reduce concentration risk. 
 
For investors, logistics and data centres bring different risk/return profiles: logistics tends to offer predictable, inflation-linked cashflows tied to e-commerce and supply-chain dynamics; data centres deliver higher structural growth but require heavy capex and specialised management. A gradual, staged diversification strategy — core office cash flows funding selective entry into logistics and hyperscale data assets — is what the report suggests India’s REIT sponsors should consider. 
 
Regulatory and tax tailwinds and why they matter 
 
Regulation has been an enabling force. SEBI’s REIT framework (introduced in 2014) and subsequent refinements — including steps in 2024–25 to reduce minimum lot sizes, simplify capital gains handling and introduce dividend tax exemptions — have improved liquidity, widened the investor base and raised governance standards. The report emphasises that mandatory distribution norms and leverage caps (e.g., the 49% leverage ceiling) create investor reassurance, which in turn narrows the yield premium investors demand. 
 
However, the report is clear that policy consistency is critical. Tax changes that are predictable and designed to broaden retail participation will accelerate REIT formation; sudden, adverse changes could slow the pipeline. 
 
Risks and caveats: concentration, ageing stock and execution 
 
ANAROCK–CREDAI does not sugarcoat the risks. India’s REIT market remains concentrated: the top three sponsors hold a large share of listed stock, a typical feature of nascent markets that can amplify sponsor-specific risks. Further, about 100 million sq ft of Grade A stock is ageing across the major metros; while refurbishment can lift rents materially (the report models uplift ranges from 10% to as much as 20–30% in some cases), the execution requires capital, planning and temporary yield dilution during upgrades. 
 
Macro risks — GDP slowdown, outsourcing demand shocks, or a weakening currency that affects foreign flows — would hit listed units too, particularly because yields already price in a growth premium. Sponsors need to show disciplined capital allocation to maintain credibility. 
 
What investors and sponsors should watch next 
 
Three practical watchpoints emerge from the analysis: 
 
1. Pipeline of new REITs: The report expects three more REITs over the next four years; each successful listing will deepen the market and test investor appetite. 
 
2. Diversification moves: Early movers into logistics and data centres will set pricing and structuring precedents; careful asset selection and transparent reporting will be decisive. 
 
3. Refurbishment programmes: Sponsors who can modernise ageing assets without excessive yield dilution stand to secure rental premia and capital appreciation. 
 
Bottom line — a market at the inflection point 
 
The ANAROCK–CREDAI report paints a balanced but optimistic picture: India’s REIT market offers attractive running yields and a clear runway for scale and diversification. The structural backdrop — rising office demand from GCCs and technology firms, booming logistics from e-commerce, and accelerating data-centre needs — gives the thesis teeth. Yet the transformation from a concentrated, office-heavy market to a diversified REIT ecosystem will depend on sponsor intent, policy stability and execution discipline. 
 
For investors seeking income with upside, Indian REITs are no longer a speculative fringe; they are a maturing asset class that rewards selectivity. For sponsors and policymakers, the task is to convert the available stock — 520 million sq ft of Grade A space — into listed, institutionally managed assets. If that happens, the projections to cross $25 billion by 2030 will likely look conservative.

Indian REITs poised for a step-change — yields, listings and the road ahead

India’s REIT market has moved well past its experimental phase. A new ANAROCK–CREDAI report pegs the sector at a market cap of $18 billion as of August 2025, with projections to cross $25 billion by 2030. Strong office absorption, yield premiums of 6–7%, and rising global capital inflows underpin the growth story. Yet only 20% of India’s institutional-grade real estate is listed under REITs, leaving significant headroom — particularly in southern metros.

Krafton expects India’s gaming market to clock double-digit annual growth in the coming years, buoyed by its massive user base of nearly half a billion gamers. Despite modest revenues today, the company believes the potential for expansion remains strong. 
 
Speaking to CNBC-TV18, Sean Hyunil Sohn, CEO of Krafton India, said, “Given the size of the number of users, the revenue is yet to grow. But I think it has very strong potential, and we will see at least double-digit growth every year in the coming years.” 
 
The South Korean gaming giant has already invested about $200 million in India since 2021 and plans to commit at least $50 million annually going forward. Sohn said the company is actively exploring both fresh investments and acquisitions in the Indian market. 
 
India, however, poses challenges in monetisation. While the country has 400–500 million gamers, the social gaming revenue is estimated at just over $1 billion. Battlegrounds Mobile India alone has recorded 240 million downloads over four years, but revenue remains relatively modest. A key reason is the low paying user ratio and average revenue per user (ARPU) compared to global standards. 
 
On regulatory developments, Krafton is encouraged by the new law that bans real money gaming but promotes e-sports and social gaming. “We believe the government has the intention to promote and encourage the development of the gaming industry for the benefit of the economy and job opportunities,” Sohn said, adding that the company looks forward to being part of consultations with policymakers. 
 
Krafton also does not foresee any hurdles regarding in-app purchases or subscriptions, saying existing practices align with global standards. As for a potential IPO, Sohn said listing in India is a long-term goal, but one he would be “very happy” to achieve in the future.

Krafton sees double-digit growth ahead in India’s gaming market

Krafton expects India’s gaming market to deliver double-digit annual growth, backed by its massive base of nearly 500 million gamers. The South Korean gaming major, which has already invested $200 million since 2021, plans to deploy at least $50 million annually while exploring acquisitions. Despite challenges of low monetisation and ARPU, Krafton sees strong long-term potential, with regulations also moving in a supportive direction.