Moneycontrol Daily: Your Essential 7

The ministerial panel on GST rate rationalisation will meet on September 25 and is expected to discuss tweaking of tax slabs and rates. The six-member Group of Ministers (GoM) under Bihar Deputy Chief Minister Samrat Chaudhary met last on August 22 and submitted a status report to the GST Council on September 9. During the August meeting, the panel had tasked the fitment committee comprising tax officers from the Centre and states to analyse the implication of tax rate change on some items and gather more data. Read here

Today
Vodafone Idea to host investor call after SC’s AGR verdict
Mamba Finance IPO to open
Kalpana Ispat SME IPO to close
WOL 3D India IPO to open
Arkade Developers likely to list on stock exchanges
Reliance Power board meet to consider long-term fund raise
India-EU free trade agreement talks to resume
First-ever future warfare course to begin
PM Modi to speak at UN Summit of Future
Rahul Gandhi election rally In Srinagar
Banaras-Agra Vande Bharat regular service to begin
Second phase of Adi Kailash Yatra to begin
Samsung sets Galaxy M55s India launch Tomorrow
BikeWo GreenTech, SD Retail, Phoenix Overseas, and Avi Ansh Textile IPOs to close for subscription
Western Carriers India, Arkade Developers, and Northern Arc Capital listing
Popular Foundations, Deccan Transcon Leasing, Envirotech Systems, Pelatro, and Osel Devices listing in SME segment

The market recorded healthy performance in the week ended September 20, hitting a fresh all-time high after the US Federal Reserve delivered a 50 bps rate cut (the first reduction in interest rates since March 2020), although the Bank of England and Bank of Japan kept the interest rates unchanged. The index started the week with some consolidation, but the Fed action and strong FII buying boosted the sentiment in the later part of the week. Going ahead, the positive move is likely to sustain in the benchmark indices, despite the underperformance of broader markets, with a focus on the US GDP numbers, Fed Chair Jerome Powell's speech and Manufacturing & Services PMI flash data, according to experts. The volatility can't be ruled out given the monthly expiry of September Futures & Options contracts due. Read here

The week ahead starting from September 23 will be super busy for the primary market as total 11 initial public offerings will be opening for subscription including two from the mainboard segment, and 14 new companies will be available for trading on the bourses. Eleven companies launching IPOs next week cumulatively will be raising Rs 900 crore from the market. Read more details here

Apple finally launched its iPhone 16 series earlier this month, and the series consists of the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and the iPhone 16 Pro Max. Like previous year launches, Apple typically didn’t disclose the battery capacities of the iPhone 16 series smartphones. However, in a new report by Brazil’s National Telecommunications Agency or Anatel via Blog do iPhone, the exact battery specifications for the iPhone 16, 16 Plus, 16 Pro, and 16 Pro Max have now been revealed. Details here

When a LIC policy matures, policyholders need to submit a maturity claim to receive the payout, which can now be done online through LIC's website. LIC urges customers to update their bank details and complete KYC to ensure smooth payments. For endowment policies, LIC sends a notification two months before maturity, and the payment is processed once the required documents, like the discharge form and NEFT mandate, are submitted. Additional forms, like medical and police reports, may be needed for deaths within three years of policy issuance or if death occurred due to unnatural causes. Following these steps ensures a smooth claims process. Read here

CEO of OpenAi, a pioneer in creating artificial intelligence (AI) tools, Sam Altman is not a stranger to taking risks. Altman encouraged students and young professionals to be open to taking unconventional career paths. Read on