This week brought encouraging developments in the ongoing India-US trade discussions. After months of stalled talks and escalating tariffs, there is optimism that the trade barriers like the steep 50% tariffs imposed on Indian imports by the U.S could soon be lowered.
President Trump and Prime Minister Modi exchanged positive signals, pushing for progress toward a bilateral agreement. Commerce Minister Piyush Goyal confirmed that the first tranche of the trade deal is on track for finalization by November 2025.
However, a significant hurdle remains: the U.S. demands India stop purchasing Russian oil, which continues to cast a shadow over the negotiations. India’s energy security needs make this a complex point of contention that both sides will need to carefully navigate.
Infosys announces largest share buyback
In the corporate sector, Infosys took a bold step to boost investor confidence. The company’s board approved an ₹18,000 crore share buyback, its biggest ever, representing 10 crore shares or about 2.4% of its equity.
The buyback price is set at a 19% premium over the current market price, signaling the company’s strong faith in its financial health and future growth prospects.
Share buybacks often create value for shareholders by reducing the number of shares outstanding and can also reflect management’s belief that the stock is undervalued in the market.
Urban Company’s much-awaited IPO
The startup ecosystem had its spotlight moment this week as Urban Company, India’s popular beauty and home services platform, launched its initial public offering (IPO).
The company issued shares worth ₹1,900 crore, drawing significant investor interest reflected by an overall subscription rate of 9 times.
This strong response showcases the growing appetite for tech-enabled service startups in India’s capital markets. The Urban Company IPO is scheduled to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 17.
Stock market gains amid currency pressure
Indian stock markets enjoyed a positive week, with major indices gaining. The Nifty crossed the crucial 25,000 mark, reflecting investor optimism about economic recovery and corporate earnings.
However, on the currency front, the Indian rupee continued to face pressure, sliding to an all-time low of 88.44 against the US dollar.
This depreciation raises concerns about import costs and inflationary pressures as a weaker rupee makes foreign goods and services more expensive domestically.
Gold prices hit record highs
Amid global uncertainties and inflation worries, gold prices surged to an unprecedented high of ₹1,10,047 per 10 grams in India’s domestic futures market.
Gold traditionally acts as a safe-haven asset during turbulent times, attracting investors seeking stability. The rising gold price also reflects fears over currency volatility and geopolitical tensions, reinforcing the metal’s role as a key portfolio hedge.
Billionaire ranking shakeup: Larry Ellison vs. Elon Musk
This week’s billionaire spotlight went to Oracle co-founder Larry Ellison, who briefly overtook Elon Musk as the world’s richest person.
Ellison’s net worth spiked thanks to an 8% rally in Oracle’s stock price, highlighting how swiftly market movements can shake up billionaire rankings.
Although Musk soon regained the top spot, the competition underscores the dynamic nature of wealth creation among tech giants, and the billionaire race remains one to watch closely.
