Overview

• The Reserve Bank of India approved Sumitomo Mitsui Banking Corporation to raise its Yes Bank holding to 24.99% from 20%, with the permission valid for one year and without promoter status.
• NSE’s semi-annual review will include InterGlobe Aviation and Max Healthcare in the Nifty 50 from September 30, replacing Hero MotoCorp and IndusInd Bank.
• SEBI cleared the reclassification of LIC as a public shareholder in IDBI Bank with voting rights capped at 10%, no board representation or special rights, and a requirement to cut its stake to 15% within two years of deal close.
• Odisha issued a Rs 1,472.69 crore demand notice to JSW Steel for a dispatch shortfall at the Jajang iron ore block for June 2024–June 2025, with payment due in 15 days under Mineral Concession Rules.
• Corporate moves included Reliance making Nauyaan Shipyard a fully owned step-down subsidiary, CEAT OHT Lanka signing a $171 million Sri Lanka investment pact, Titagarh Rail winning a Rs 91.12 crore BLW order, and GMR Power & Urban Infra approving fund-raising of up to Rs 3,000 crore.