Top10@10: Trump, Putin Call Modi on birthday; Fed Rate cut decision in focus; Urban Company's strong debut and more

It’s been a busy midweek on the news front, with global politics, market moves and corporate shakeups all making waves. Prime Minister Narendra Modi turned 75 today, and the phone lines didn’t stop buzzing. US President Donald Trump dialed in with birthday wishes and Russian President Vladimir Putin also reached out.

On the markets side, Wall Street is holding its breath ahead of the US Fed’s rate decision tonight. A 25-basis-point cut seems baked in, but all eyes are on Jerome Powell’s tone and the dot-plot to see what lies ahead.

Back home, the Sensex and Nifty notched three-month highs, the rupee staged a rebound, and SBI cashed in nearly ₹9,000 crore by trimming its Yes Bank stake.

Elsewhere, Urban Company lit up Dalal Street with a stellar debut, Nestlé’s top brass is in flux, and Vedanta is facing fresh resistance from the government on its demerger plan. And in geopolitics, Israel’s Gaza offensive, Trump’s UK visit and more are keeping headlines heavy.

Donald Trump dials PM Modi, extends wishes on his 75th birthday



Prime Minister Narendra Modi expressed his gratitude to US President Donald Trump for calling and wishing him for his 75th birthday, which falls on September 17. In a post on X, PM Modi stressed on the mutual commitment of both leaders to take the US-India partnership to greater heights.

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Asian stocks slip as investors await US Fed decision



Asian stocks posted a modest drop at the open following a tepid Wall Street session, as investors held back ahead of Wednesday’s Federal Reserve interest-rate decision.

Shares in Japan and South Korea retreated while the MSCI Asia Pacific Index edged 0.2% lower after nine consecutive days of gains. The S&P 500 slipped 0.1% Tuesday and the Nasdaq 100 ended a nine-day winning streak. Equity-index futures for the US posted a small gain.

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Also Read: Gold prices ease in India as global bullion slips ahead of US Fed decision

Nifty rises above 25,300, closing at three-month high



The stock market rose for a second straight session on Wednesday, with the benchmark Nifty 50 closing at its highest level in more than three months, led by gains in financial and public sector stocks, while investors awaited the U.S. Federal Reserve’s policy decision.

The NSE Nifty 50 ended 0.36% higher at 25,330.10, its strongest close since June 7, while the S&P BSE Sensex gained 313 points, or 0.38%, to 82,694.

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Also Read: Rupee strengthens to highest point since August 29

Vedanta shares end off day's low after government flags disclosure violation, blocks misrepresentation at NCLT



Shares of Vedanta Ltd. fell as much as 3% on Wednesday, September 17, after the government flagged multiple issues with regards to its demerger at the National Company Law Tribunal (NCLT) during the hearing which was scheduled for today.

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SBI, Bandhan Bank, Federal Bank sell Yes Bank shares worth over ₹15,800 crore to Sumitomo Mitsui



In one of the largest cross-border deals in India's banking sector, the State Bank of India (SBI), Bandhan Bank and Federal Bank have sold a combined stake of over 446 crore shares in Yes Bank Limited to Japan's Sumitomo Mitsui Banking Corporation (SMBC), amounting to more than ₹15,800 crore.

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Urban Company shines on Dalal Street, lists at nearly 60% premium; what should investors do



Party time for those who have invested in the initial public offering (IPO) of Urban Company, as the company on Wednesday made its stock market debut with a sharp premium over its issue price. It listed on the stock markets at ₹162.25 against its issue price of about ₹103, thus accumulating nearly 60% listing gains for the investors.

Ahead of its debut, the company's grey market premium (GMP) stood at around ₹52 per share, indicating a potential listing price nearly 51% above the upper price band.

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Also Read: Accel eyes long game with Urban Company, even after partial IPO exit

SEBI chairman hints at allowing banks, FPIs in commodity trade



MCX surges in trade as SEBI Chairman says that proposal to allow FPIs to trade in non-cash settled, non-agri commodity derivative contracts is under examination. 

‘Don’t tarnish my son’s reputation’; Capt. Sabharwal’s father seeks probe into Air India Ahmedabad crash


The 91-year-old father of Captain Sumeet Sabharwal, the pilot-in-command of Air India Flight AI171 which crashed in Ahmedabad on 12 June 2025, has written to the Ministry of Civil Aviation and the Aircraft Accident Investigation Bureau (AAIB), demanding an independent and formal investigation into the tragedy.

In a letter dated 29 August, Pushkaraj Sabharwal strongly criticised what he described as “selective leaks” from the ongoing investigation, which he said had resulted in defamatory and unverified claims about his late son.

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Nestlé melts down at the top: Scandal, firings, and exits



One CEO fired for weak results, the next toppled by scandal, and now the the chairman forced out early. Nestlé, the world’s largest food company, is in turmoil—and investors are demanding nothing short of a turnaround.

So, what went wrong at this 159-year-old giant? And why are so many consumer companies suddenly cleaning house at the top? Let’s break it down.

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Israel opens evacuation route in Gaza as airstrikes intensify across the enclave



Israel has announced a new “safe corridor”, giving civilians 48 hours to flee Gaza City. Leaflets urged residents to head south, though the UN and aid groups condemned the evacuation orders as illegal. With fears of permanent displacement, many remain in the city despite relentless bombardment. Dozens, including a mother and child in a refugee camp, were killed in Israeli airstrikes. Pope Leo has renewed his appeal for a ceasefire, stressing the need to uphold human dignity.

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