11:11 | GST Council Meeting, Rupee’s fall & impact, Semicon India Day 2, Zomato platform fee hike & more

Good morning! It's a busy, busy Wednesday, buzzing with news.

Here are the top stories we're tracking at this hour!

GST Council meet: Eight opposition states seek revenue protection, Andhra backs reforms

Eight opposition-ruled states met ahead of the 56th Goods and Services Tax (GST) Council meeting in New Delhi on Wednesday (September 3), pressing for revenue protection from the Centre.

In contrast, Andhra Pradesh Chief Minister N Chandrababu Naidu has signalled support for the Centre’s proposals, saying they will help the common man and expand the Indian economy.

Hopeful of concluding India-US BTA by November, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday, September 2, said that he is hopeful that India and the United States could finalise the bilateral trade agreement (BTA) by November this year, despite ongoing challenges linked to the US tariffs and geopolitical developments. Speaking at the Annual Global Investor Conclave 2025 in Mumbai, Goyal noted that external issues had impacted the discussions.

Rupee at record low — Here's how this weakness impacts oil and gas companies

The rupee is currently trading above the mark of 88 against the US Dollar, on Wednesday, September, 3, having made a record low 88.34 against the greenback on Monday. While a depreciating rupee is generally positive for IT companies as it aids in margin expansion, how are some of the other companies impacted due to this weakness?  Here is a look at some names:

Anlon Healthcare shares make sluggish debut, list at 1% premium on NSE

Shares of Anlon Healthcare Ltd. made a muted debut on the bourses, listing at ₹92, compared to the IPO issue price of ₹91 on NSE. This reflects a premium of around 1.10% from the issue price. Meanwhile, on the BSE, the stock listed at ₹91. The listing price was at par with the issue price of the IPO.

Vikran Engineering shares list at nearly 3% premium over IPO price

Shares of Mumbai-based infrastructure EPC company Vikran Engineering Ltd. debuted on Wednesday, September 3, with a muted listing performance.

The stock opened at ₹99.70 on the BSE, offering a slight premium of 3% over its issue price of ₹97, while it listed at ₹99 on the NSE.

BEST resumes bus service from CSMT after Maratha quota protest ends

The Brihanmumbai Electric Supply and Transport (BEST) Undertaking resumed bus services from Chhatrapati Shivaji Maharaj Terminus (CSMT), days after operations were suspended due to the ongoing Maratha quota agitation, an official confirmed.

The restoration of services came as a major relief to daily commuters, particularly office-goers heading to Nariman Point, Backbay, and Colaba, who had been forced to walk to work amid disruptions

Semicon India 2025: Global chip leaders join PM Modi, Vaishnaw for round table

A high-powered round table with the world’s top semiconductor executives is being held on Day 2 of Semicon India 2025 in New Delhi.

Prime Minister Narendra Modi and Union Minister Ashwini Vaishnaw are leading the discussions in a closed-door session with industry leaders. The meeting comes a day after Vaishnaw unveiled the first made-in-India chip, marking a milestone in the country’s semiconductor journey.

India reels under severe floods: Schools shut, trade stalled, infrastructure hitHeavy rainfall across India has disrupted daily life in different parts of the country. With rains causing cloudbursts, landslides and flash floods, schools have been shut while infrastructure damage has been reported. Movement of the goods has been affected, leading to economic loss to the businesses and traders.

While Himachal Pradesh reported losses worth ₹3,525 crore, Jammu and Kashmir traders see a ₹350 crore loss as fruit export is halted. Floods have devastated Haryana, Delhi and Punjab alike.

Delhi records over 1,000 mm rainfall this season, the wettest August since 2010

Delhi has officially crossed the 1,000 mm mark in seasonal rainfall, with rain continuing to soak the national capital and surrounding areas. The city had already surpassed its annual average rainfall of 774.4 mm in August.

Persistent showers and overcast skies kept Delhi drenched throughout the day. This milestone was reached after two consecutive days of intermittent rain.

Stock Picks For September — Axis Securities lists 15 stocks for up to 29% upside

Axis Securities highlights 15 stocks as their top stock picks for September, for an upside potential of up to 29%. Here's a look at their rationale behind some of their picks

Get along well with India, but relationship 'one-sided', says US President Trump | Watch video

US President Donald Trump said the US and India get along very well, but for many years they had a "one-sided relationship".He said the US was not able to do business with India as it was charging them "100% tariffs" but India was able to do business with the US.

"They would send in a massive amount of everything they made, and pour it into our country," he said, adding that it wouldn't be made in the US, "which is a negative".

Zomato hikes food delivery platform fee by 20% to ₹12 per order

Food delivery and quick commerce firm Eternal Ltd, which owns the Zomato and Blinkit brands, raised its platform fee on food delivery orders to ₹12 from ₹10 on Tuesday (September 2), marking a 20% hike.

The change comes less than a year after the company last revised the charge. Zomato, led by CEO Deepinder Goyal, first introduced the fee at ₹2 in August 2023 as part of efforts to improve margins and move towards profitability. Since then, Zomato has raised the charge multiple times.