Overview

• The GST Council confirmed a move to two rates, 5% and 18%, effective Sept. 22, covering categories from FMCG and healthcare to insurance and automobiles.
• Biocon said a routine USFDA cGMP inspection at its Bengaluru drug substance site ended on Sept. 3 with a Form 483 carrying five observations.
• Westbridge is marketing an exit from Aptus Value Housing Finance via a block sale of about 82.3 million shares, roughly 16.4%–16.5% of the company, at an indicative price of Rs 316.
• BHEL accepted a Rs 2,600 crore LOI from MB Power to supply boiler, turbine and generator equipment for the 1x800 MW Anuppur Thermal Power ProjectThe DeDelhi High Court directed immediate disbursal of promised electric-vehicle subsidies to customers, affecting automakers including Tata Motors and Mahindra & Mahindra.