The day will be very eventful on September 3, 2025, as a lot of things will attract the attention of the investors. Among the major happenings are the releases of earnings, acquisitions, project bids, and approvals by regulators.

Stocks to Watch Today

Indian equity markets are anticipating an eventful trading day with numerous stocks in focus on the back of quarterly earnings releases, strategic acquisitions, regulatory approvals, and important business developments. Companies operating in the sectors of IT, infrastructure, banking, energy, real estate, and hospitality have made substantial announcements that are likely to stimulate market activity.

Quarterly Results in Focus

Besides that, Borosil Renewables, Eros International Media, and Taylormade Renewables are set to report their earnings for the last quarter. With these, the market will be able to see the trends in the respective sectors and their growth projections.

JSW Cement

JSW Cement has presented its first-quarter consolidated financial results with a drastically increased net loss of ₹1,356.2 crore as compared to a loss of ₹15.1 crore for the corresponding quarter last year. Earnings also rose by 7.8% to ₹1,559.8 crore, and EBITDA grew by 61.4% to ₹322.65 crore. The repainted results showed the company’s margin of safety had been restored to 20.7% from 13.8%, but heavy losses in the exceptional category dragged down the overall performance of the firm.

Tata Consultancy Services (TCS) Expands Global Partnership

Tata Consultancy Services (TCS), the leader of IT business in Mumbai has decided to extend its collaboration with Tryg, an insurance company in Scandinavia. The seven-year €550 million contract will achieve simplified operations for Denmark, Sweden, and Norway as well as speed up the implementation of the digital transformation.

Indus Towers Eyes African Expansion

Indus Towers Limited, a Gurugram-based telecom tower infrastructure company, has given the nod for its entry into Nigeria, Uganda, and Zambia. The decision marks the company’s first venture into foreign markets, thus expanding its sources of revenue and accessing the rapidly growing three African countries where Airtel already operates and is the market leader.

Waaree Energies Strengthens Renewable Portfolio

A company that supplies solar energy solutions to the public, Waaree Energies from Mumbai has agreed to take over the majority ownership of Kotson for the amount of ₹192 crores through a purchase of 64% of the total shares. Moreover, it has also gotten the total authority over Impactgrid Renewables from Waaree Forever Energies, its subsidiary, combining clean energy generation projects in its portfolio.

PNC Infratech Wins Airport Project

A company from Agra, PNC Infratech, grabbed the airport in Varanasi, India, project of the Lal Bahadur Shastri International Airport expansion with a bid valued at ₹297.01 crore as the lowest-priced bidder. The works involved in the initiative include runway extension, re-carpeting as well as strengthening, allowing further airport infrastructure development along with the road connecting with it.

Adani Power Gets Mining Approval

A major merchant of coal-fired power, Adani Power Limited, has received heavy metal support from the Ministry of Coal to begin operations at the Dhirauli coal mine located in Singrauli, Madhya Pradesh. The mine is highly volatile and holds a reserve stratum of 620 million tonnes to keep Adani’s combustion plant supplied for a long time.

Yes Bank Stake Sale Approved

Yes Bank,  based in Mumbai, received the green light from India’s competition authority (CCI) for the Sumitomo Mitsui Banking Corporation (SMBC) to take over 24.99% of Yes Bank. The stake will be bought from a group of Indian banks comprising SBI, Axis Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank.

E2E Networks Boosts AI Capabilities

E2E Networks Limited is a cloud computing company based in Gurugram. The company was given a government order totalling ₹177 crore from the Ministry of Electronics and IT. The deployment of high-performance GPUs will enable Gnani AI to develop India’s foundational AI model.

Also Read: Stocks to Watch Today: Key Market Movers and Major Updates

DCM Shriram Signs Chlorine Supply Deal

DCM Shriram Limited is a Delhi-based company which has a diverse line-up of businesses. It has signed a long-term agreement with Aarti Industries. The chemicals division of the company shall be the only supplier of chlorine for Aarti’s new plant in Jhagadia, Gujarat.

UPL Consolidates Seed & Post-Harvest Businesses

UPL Limited is a provider of agrochemicals and seed solutions with a global footprint. It declared that the post-harvest business of Decco Holdings UK would be acquired by Advanta Mauritius for $502 million. The company has been strategically aligned with the decision of integrating the seed and crop protection segments.

Lemon Tree Hotels Expands Presence

The CEO of the Lemon Tree Hotels Limited in New Delhi has declared that the brands Lemon Tree Premier and Keys Lite will be launching three new properties in Pushkar and Ajmer. The new accommodations deepen the presence of a hospitality brand in Rajasthan.

Other Notable Updates

DCX Systems announced that Prasanna Kumar T S is its new CFO and Raghavendra Rao Hosakote Shamarao will be its CMD for the second term.

Adani Energy Solutions, through its subsidiary AEML, performed a buyback of $44.66 million worth of its secured notes and then terminated the notes to decrease the outstanding debt.

MOIL Limited’s production reached a new high for August of 145,000 tonnes, representing a 17% YoY increase.

TBO Tek acquired US-based Classic Vacations for $125 million, a move that signals its entry into the North American market.

Highway Infrastructure got a tolling contract with NHAI in Uttar Pradesh worth ₹69.8 crore.

Sunteck Realty is likely to raise ₹500 crore through a preferential share issuance.

Ruby Ritolia, CFO, Healthcare Global Enterprises, resigned, with effect from September 2.

Bulk Deals & Market Activity

The most significant block trades happened at Vertis Infrastructure Trust where KKR-owned Galaxy Investments II and Ontario Teachers Pension Plan Board sold stakes totaling more than ₹2,467 crore to buyers such as ICICI Prudential MF, Kotak Life Insurance, and LTIMindtree.

The promoter entity BHL Securities Trust sold 1.58 crore shares at Bajaj Hindusthan Sugar with a market value of ₹34.49 crore.

Laxmi India Finance was the receiver of the shares sold by BofA Securities Europe SA.

Shares were transferred between institutional investors at Net Avenue Technologies, including Somani Ventures and Inventus Capital Partners.

Also Read: Upcoming IPOs in September: Market Set for Action

IPOs and Listings

Mainboard debut today of two new companies:

Vikran Engineering

Anlon Healthcare

SME listings include:

Current Infraprojects

Sattva Engineering Construction

Ex-Dividend Stocks

A Few Prestige Estate, Patanjali food, Concord Biotech, Asahi India Glass, VST Tillers Tractors, and Pokarna will be traded ex-dividend today, are companies that have declared dividends.

Why These Stocks to Watch Today Matter

The large variety of the updates—from earnings announcements and acquisitions to overseas expansions and government approvals—makes these companies the stocks to watch today. Besides reflecting corporate strategies, these developments are instrumental in shaping broader market sentiment, thus, giving investors actionable insights.

FAQ’s

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India’s Paytm has made it clear that UPI payments are fully functional, and only recurring payments need to be updated to new UPI handles. The NPCI-approved change allows for a smooth subscription billing process as Paytm implements the multi-bank model.

Paytm UPI Recurring Payments Change 2025

One of the leading financial services providers in India, Paytm announced that there is no disruption to UPI transactions in India and the recent Google Play alert only pertains to recurring mandates. The company explained that consumer and merchant one-time UPI payments are going on without any problems, while Paytm UPI recurrences like subscriptions will require users to update their handles before the cut-off date, which is August 2025.

What is the Importance of the Update

The clarification was made after Google Play’s recent notification which Paytm described as incomplete and potentially misleading for users. According to Paytm, this change only affects recurring payments linked to services such as YouTube Premium, Google One, or any other platform where automatic subscription billing is activated.

As per the statement of the company, if the users UPI ID was previously in the format abcd@paytm, then it will be changed to new bank-linked handles such as abcd@pthdfc, abcd@ptaxis, abcd@ptyes, or abcd@ptsbi. These stand for HDFC Bank, Axis Bank, Yes Bank, and State Bank of India (SBI).

NPCI Green Light and Multi-Bank Model

The change follows Paytm’s acceptance by the National Payments Corporation of India (NPCI) to become a Third Party Application Provider (TPAP) in the multi-bank model. The switch deepens Paytm’s UPI network by increasing durability, lessening the reliance on one partner, and making sure that recurring payments flow without any breaks.

By engaging several partner banks, Paytm leverages India’s overall desire for UPI scalability and security. This change also serves as a guarantee to customers and merchants that Paytm UPI recurring payments will be dependable and updated.

Also Read: RBI Clears Paytm Payments Services – Here’s What Changes Immediately

Deadline for Recurring Payments

The update has to be done by August 31, 2025. Users are free to make regular payments till that time, but those on subscription billing will have to change their UPI handle to continue their service without interruptions.

To illustrate, a person who has chosen abcd@paytm to pay for a streaming subscription will have to change it to a new handle such as abcd@pthdfc. The routine will then be able to continue without any hiccups.

What Indian Merchants Can Do Now

The thing to remember with consumers is that the normal UPI transactions will not be stopped by this move. Transfers that are done one time only, merchant payments, and P2P transactions may operate as usual. Just subscription billing systems such as OTT platforms, cloud storage services, and premium app subscriptions are disrupted.

On the other hand, merchants, particularly digital platforms that have recurring billing are the ones that will have to do this update on their back end to confirm and accept the new UPI accounts. This is how they ensure that the mandates their customers have given them are still good under the new system.

Financial Expert Insights

Industry commentators point out that this move signals not only regulatory adherence but also sustainability for Paytm’s UPI ecosystem over time. Switching over to a multi-bank model will not only reduce the risk involved in the day-to-day operations but will, at the same time, also allow for there to be continual transactions – which in a digital business, form the most requested payments i.e., a new avenue of revenue. 

Besides, this step reveals how India’s UPI eco-system is reshaping itself with the aid of technology from merely being a fast, safe and secure mode of payment to being a subscription-model champion. They say money drawn on the basis of recurring payment, even if it presently forms only a small part than the total UPI volumes, is a very promising source of fintech platform expansion such as Paytm

Paytm UPI Recurring Payments – What Users Need to Do

• Check your subscriptions: Find out what services you have that directly interact with your Paytm UPI for auto-debits.

• Update the UPI handle: Switch from @paytm to other bank-linked handles like @pthdfc or @ptaxis.

• Meet the deadline: Make sure that the updates you have done are in place before August 31, 2025.

Without performing the above-mentioned activities, users cannot expect uninterrupted recurring services.But streaming, cloud storage, premium subscription, etc. can go on without a glitch if users adhere to these instructions.

India’s UPI Evolution

UPI is an outstanding example of India’s great strides in the field of FinTech, and the UPI journey is now a universal payment infrastructure that goes a long way from the peer to peer transfer mode. It may now be used for paying bills, merchant transactions, investments, and now recurring subscriptions alongside that further.

The fact that more than 10 billion transactions get performed every month, underlining UPIs maturity as the backbone of the digital economy, is the evolution of the UPI system into the subscription billing scenario. UPI is turning out to be the nodal agency for the entire financial system of the country. With the coming of NPCI, public confidence in UPI will reach new heights.

FAQ’s

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On Friday, the share price of YES Bank climbed by more than 4% post media reports that Sumitomo Mitsui Banking Corporation (SMBC) of Japan is preparing to inject a further ₹16,000 crore into the private-sector lender. This step comes after RBI approvals permitting SMBC to extend its holding in YES Bank up to 24.99%, indicating a robust capital base and bright future.

YES Bank: Background and Business Overview

YES Bank Limited located in Mumbai is among the top private sector banks of India and functions primarily in the financial services and banking industry. Besides retail banking, corporate banking, and investment banking, the bank also provides digital financial services in India and internationally. With the range of products offered, YES Bank has turned out to be one of the major contributors to the progress of financial markets in India.

In the last couple of years, the bank has restored its financial health through the support of a group of Indian and overseas investors and has managed to improve asset quality, raise the value of the balance sheet, and expand the lending portfolio to both retail and corporate clients.

YES Bank Shares Gain Momentum on SMBC Infusion Reports

On the same day before closing at ₹19.40, the stock price of YES Bank intraday skyrocketed by over 4.6% to ₹19.55 per share. On Friday, the 30-day average trading volume almost tripled, showing that investors suiting up for the counter were more active than usual. The rise in the stock came after reports that the Japanese financial group Sumitomo Mitsui Banking Corporation (SMBC) was about to put in another ₹16,000 crore ($1.83 billion) in YES Bank.

YES Bank has a market cap of ₹60,637.30 crore at the current market price, signaling that investors are feeling positive about the stock despite the general market trend. The bank thus reversed the trend of the past two days with the help of the escalation of its shares.

Details of the Proposed YES Bank SMBC Investment

It is reported that the new money by SMBC will be a mixture of mutual funds and fixed deposits, with the final detailed plan as follows:

• Bond issue of ₹8,500 crores will be the way in which they raise yen-denominated bonds, the interest rate of which is expected to be less than 2%

• They will acquire ₹7,500 crores of stocks in the form of Foreign Currency Convertible Bonds (FCCBs)

Also Read: Japan Bets Big on India’s Banking Sector via YES Bank

SMBC had already committed ₹13,500 crores for a 20% stake acquisition in YES Bank, of which most shares were purchased from existing shareholders, such as State Bank of India (SBI).

Upon receiving the green light from the Reserve Bank of India, SMBC is now able to raise its stake along with Yes Bank (up to 24.99%) capital which will be available to Yes Bank for a significant period.

Strategic Importance of SMBC’s Investment

The move to increase the intervention by SMBC is naturally strategic in relation to Yes Bank and it:

• Strengthens the Bank’s Base of Capital: The ₹16,000 crore cash injection will significantly improve Yes Bank’s Tier-1 Capital Adequacy Ratio, thus exceeding the requirements imposed by the regulator.

• Contributes to the Bank’s Possibilities of Growth: Excess cash will enable the institution to develop retail, SME, and corporate businesses in the areas of lending.

• Enhances the Relationships with the International Partners: The partnership with a prominent Japanese banking institution is turning Yes Bank into a reliable global partner, and it may attract new customers, including trade firms having interests in different countries.

• Promotes Confidence in Banking Stability: It is believed that the decision will reassure investors, especially since it occurs at a time when the bank has been going through a process of restructuring and has been facing problems related to the quality of its assets.

Also Read: Yes Bank Trades Flat Ahead of Q1 Results; Muted Outlook

YES Bank Q1FY26 Performance Highlights

The first quarter of FY26 has seen Yes Bank performing exceedingly well as announced recently:

• Net profit of ₹801 crore was generated, reflecting a year-over-year rise of 59% as compared to the quarter of the previous financial year, when it was ₹502 crore.

• Quarter-on-quarter comparison shows that the profit went up by 8.5% from ₹738 crore in Q4FY25 to ₹801 crore in Q1FY26.

• Net Interest Income (NII) increased 5.7% YoY reaching ₹2,371 crore.

• Non-Interest Income grew 46.1% YoY, hitting ₹1,752 crore.

• Net Interest Margin (NIM) has been retained at 2.5%, which points to the bank’s profitability.

• Gross Non-Performing Assets (GNPA) were at 1.60% without any increase, while Net NPA reached 0.30%, which is a sign of the stable asset quality.

The solid Q1 results demonstrate the bank’s recovery trajectory and the effectiveness of its operations, which can be largely attributed to digital growth and the diversification of income sources.

Market Performance and Outlook

Though the rally on Friday saved the situation, the shares in YES Bank are still about 1.2% lower than at the beginning of the year and thus have performed worse than the Nifty 50, which over the same period has gone up by 3.7%. However, the analysts, who are in charge of studying the banking sector, think that if capital keeps coming in, profitability takes an upward turn, and assets remain stable, then the bank will put in a stronger performance in the next quarters.

Owing to SMBC’s support, YES Bank is in a position to stabilise its performance, carry on with its debt activities, and capitalise on India’s rapidly expanding financial sector by uncovering new prospects.

FAQ’s

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India’s stock market focus today centers on major index reshuffles, regulatory approvals, strategic expansion, fundraising, and corporate developments across key companies.

India’s equity markets are set for a volatile session today as multiple index reshuffles, regulatory developments, and corporate actions bring select stocks into the spotlight.

Index Reshuffle Impact

InterGlobe Aviation (IndiGo) and Max Healthcare are slated to be included in the Nifty 50 index at the end of September. This reshuffle highlights the rising weight of aviation and healthcare in India’s market composition. Conversely, IndusInd Bank and Hero MotoCorp will exit the benchmark index, a move expected to trigger passive fund adjustments and short-term volatility in their stock prices.

Additionally, shares of MCX, Indian Overseas Bank, JK Cement, Hexaware Technologies, and Cholamandalam Financial Services will remain active as they enter the FTSE All World Index from September 22. Analysts expect this inclusion to attract incremental foreign portfolio inflows.

Banking and Financial Sector Moves

Yes Bank gained investor attention after receiving the Reserve Bank of India’s approval for [Sumitomo Mitsui Banking Corporation’s] acquisition of up to 24.99% stake. Market experts suggest this could enhance Yes Bank’s balance sheet strength, widen credit capabilities, and improve investor sentiment in the medium term.

Corporate Developments Across Sectors

• Metals: JSW Steel disclosed a demand notice worth USD 177 million from the Odisha government, linked to despatch shortfalls. While not unusual in the mining sector, such regulatory claims tend to weigh on stock performance in the near term.
  
• Telecom & Infra: RailTel secured a USD 1.56 million consultancy project, reflecting the government’s digital infrastructure push.
  
• Energy & Infra: GMR Power & Infra announced plans to raise up to USD 360 million through securities, signaling an aggressive expansion and debt optimization strategy.
  
• Real Estate: Brigade Enterprises leased a seven-acre plot in Chennai’s OMR for a mixed-use project featuring over one million sq. ft. of office space and a 225-room five-star hotel.
  
• Hospitality: Indian Hotels outlined plans for acquisitions in Europe and Southeast Asia to strengthen global presence, aligning with India’s growing outbound tourism and hospitality demand.
  
• Automobiles: TVS Motor reappointed Venu Srinivasan to its board, reinforcing leadership continuity as the company advances in electric mobility.
  

Also Read: India Opens Doors for Foreign Stake in Key Private Bank

Market Insight

Experts note that today’s developments underline three major trends:

1. Sector Rotation: Healthcare and aviation gaining prominence over traditional sectors like banking and automobiles.
   
2. Global Integration: FTSE index inclusions reflecting India’s growing role in global equity benchmarks.
   
3. Capital Strengthening: Banks and infrastructure companies continuing to raise funds to sustain growth momentum.
   

Overall, analysts expect these updates to set the tone for short-term market sentiment while reinforcing long-term structural shifts in India’s economy.

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Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has secured approval from the Reserve Bank of India (RBI) to acquire up to 24.99% in Yes Bank. The landmark deal marks the largest cross-border investment in India’s banking sector and signals growing foreign investor interest in Indian private lenders.

The Reserve Bank of India (RBI) has approved Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to 24.99% in Yes Bank, marking the largest cross-border investment in India’s banking sector. This transaction is set to reshape the country’s private banking landscape and strengthen foreign investor participation in Indian financial institutions.

SMBC, a wholly owned subsidiary of Sumitomo Mitsui Financial Group, announced earlier its intention to acquire a 20% stake in Yes Bank for approximately USD 1.6 billion. With RBI’s latest approval, the Japanese lender can raise its holding to 24.99%, just under the regulatory ceiling for voting rights in Indian banks. As part of the deal, Yes Bank will allocate two board seats to SMBC, allowing deeper strategic collaboration between the two financial institutions.

The stake sale will involve India’s largest lender, State Bank of India (SBI), reducing its shareholding alongside seven other major domestic banks. This divestment not only helps streamline Yes Bank’s ownership but also allows SBI to gradually exit from its rescue role following Yes Bank’s financial crisis in 2020.

Also Read: Yes Bank’s Second Life: Japan’s SMBC Steps In to Rebuild

For Yes Bank, this transaction represents a significant milestone in its turnaround journey. The bank has been stabilizing its balance sheet, reducing stressed assets, and improving profitability. Analysts suggest that the capital infusion from SMBC will accelerate Yes Bank’s growth strategy, providing it with stronger lending capacity and positioning it as a more competitive player among private sector banks in India.

From a broader perspective, the approval signals India’s openness to foreign capital in its banking sector. While regulations cap voting rights for foreign investors at 26%, the RBI’s clearance for SMBC underscores its willingness to encourage strategic global partnerships. Experts highlight that this move could pave the way for further cross-border investments, particularly as Indian banks seek to bolster capital buffers and expand digital infrastructure.

The transaction is subject to approval from the Competition Commission of India (CCI) and customary closing conditions. Once completed, SMBC’s strategic presence in Yes Bank will mark a new phase in Indo-Japanese financial collaboration, reinforcing India’s position as a key growth market for global banking giants.

Shares of Yes Bank have already responded positively, reflecting investor confidence in the transformative impact of SMBC’s entry. Market observers believe that the deal will act as a benchmark for future foreign investments into India’s financial services sector.

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Indian equity markets are set to open on a positive note on Monday, August 25, 2025, tracking strong global cues after US Federal Reserve Chair Jerome Powell hinted at a potential interest rate cut. Several key companies, including Reliance Industries, IndiGo, Max Healthcare, Yes Bank, and IDBI Bank, will remain in focus during today’s trading session.

Indian stock markets are expected to begin the week on a stronger footing, supported by global momentum. At 7:56 AM, GIFT Nifty futures traded at 24,955, up 57 points, signaling a likely positive opening for benchmark indices.

Across the Asia-Pacific region, markets reflected the optimism seen on Wall Street, where the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite closed sharply higher. The gains were triggered after US Federal Reserve Chair Jerome Powell, speaking at the Jackson Hole Symposium in Wyoming, indicated that an interest rate cut could be considered as early as next month.

Asian markets followed suit: Japan’s Nikkei 225 advanced 1.08%, South Korea’s Kospi rose 0.75%, Australia’s S&P/ASX 200 gained 0.87%, while China’s Shanghai Composite moved up 0.64%. Investors also await Singapore’s Consumer Price Index (CPI) data for July to gauge regional inflation trends.

Stocks to Watch Today

• Nifty50 Rejig:

InterGlobe Aviation (IndiGo) and Max Healthcare Institute are set to replace Hero MotoCorp and IndusInd Bank in the Nifty 50 index, effective September 30, 2025. The reshuffle positions aviation and healthcare as growing segments in the benchmark index.

• Yes Bank:

Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India (RBI) to acquire up to 24.99% equity stake in Yes Bank. The approval is valid for one year, though RBI clarified that SMBC will not be classified as a promoter. This move could strengthen Yes Bank’s capital base and enhance global strategic partnerships.

• Reliance Industries (RIL):

Mumbai-headquartered Reliance Industries Limited (RIL) announced that its step-down wholly owned subsidiary, Nauyaan Tradings Private Limited (NTPL), has acquired the remaining 6.1% equity in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp for ₹45.32 crore. With this acquisition, NSPL becomes a full step-down subsidiary, further expanding RIL’s presence in shipbuilding and infrastructure.

• Titagarh Rail Systems:

Kolkata-based Titagarh Rail Systems has secured a Letter of Acceptance from Banaras Locomotive Works for the complete shell assembly of WAG-9HC locomotives. The order, valued at ₹91.12 crore (including GST), strengthens Titagarh’s position in India’s fast-growing railway manufacturing sector.

Also Read: Market Rally Unveils Big Winners – 8 Stocks at Their Strongest Levels in a Year

• Brigade Enterprises:

Bengaluru-based Brigade Enterprises launched “Brigade Lakecrest”, a premium residential project near Bhattarahalli Lake on Old Madras Road. Developed under a joint development model, the project spans 9.33 lakh sq. ft. and is expected to generate revenues exceeding ₹950 crore.

• IDBI Bank:

IDBI Bank announced that SEBI has approved the reclassification of Life Insurance Corporation of India (LIC) as a public shareholder rather than a promoter. This move is subject to specific conditions and is a significant step in IDBI’s transition towards privatization.

• RailTel Corporation of India:

RailTel has received a work order worth ₹13.16 crore (including taxes) from the Rajasthan Skill & Livelihoods Development Corporation (RSLDC) to provide project management consultancy (PMC) services.

• Interarch Building Solutions:

Interarch Building Solutions secured a ₹90 crore order from Rungta Mines Limited for designing, engineering, manufacturing, and erecting a pre-engineered steel building system.

• IndusInd Bank:

IndusInd Bank saw its credit rating affirmed at CRISIL AA+ with a Negative outlook by CRISIL Ratings, while also being removed from the “watch with negative implications” list.

• Akums Drugs and Pharmaceuticals:

Akums Drugs signed a Framework Agreement with the Government of the Republic of Zambia on August 22, 2025, to establish a local pharmaceutical manufacturing facility. The project aims to support Zambia’s national healthcare programs while boosting local production capacity.

• Eris Lifesciences:

Eris Lifesciences disclosed that it has received a show cause-cum-demand notice from the Directorate General of GST Intelligence (DGGI), Mumbai, regarding alleged non-payment of IGST under the reverse charge mechanism for import of services.

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In India, payment aggregators face shrinking margins as major banks, including ICICI Bank, introduce transaction handling fees on UPI merchant payments. This signals a shift in the digital payment ecosystem, raising concerns over sustainability and the burden on smaller merchants.

India’s fast-growing digital payments landscape is facing an inflection point as top banks begin to impose transaction handling fees on Unified Payments Interface (UPI) merchant transactions. On July 28, ICICI Bank notified payment aggregators (PAs) that from August 1, a handling fee would apply to such transactions. This shift, although minimal at 0.02% or capped at ₹6-₹10 per transaction depending on account type, has broader implications for the financial dynamics of India’s UPI ecosystem.

Payment aggregators, who play a key role in enabling digital merchant payments, are expected to absorb these charges for now. However, experts caution that the real pressure lies in the domino effect—other large banks, such as Axis Bank and Yes Bank, may soon follow suit, gradually inflating the cost of processing UPI payments. If so, the highly cost-sensitive digital payments space in India may see mounting operational strain, especially among mid-sized and small players.

Also Read: Digital Payments Are Soaring—Is India’s Infrastructure Ready?

While the government mandates zero Merchant Discount Rate (MDR) on UPI payments to ensure cost-free transactions for merchants, banks have long applied indirect charges to PAs through account maintenance, platform fees, or reconciliation costs. Now, these explicit transaction-based charges could erode already thin profit margins for aggregators.

A senior executive at a leading payment firm noted that while charges like convenience or platform fees are within regulatory bounds if made “payment mode agnostic,” the growing lack of clarity creates a gray zone. This ambiguity is driving varied practices across the industry.

The nuanced structure of these new fees further complicates the impact. PAs with an escrow account at ICICI Bank are charged 2 basis points (bps) per transaction, while those without are charged 4 bps. Given that 100 bps equals 1%, the absolute financial burden appears marginal. However, when scaled across millions of transactions, the cumulative pressure becomes significant.

Large merchants often bypass these costs entirely by maintaining substantial account balances or negotiating rebates. As a result, small and mid-tier businesses—already restricted by regulations from charging customers—are left bearing the brunt. Although some payment firms argue that the actual charge is too insignificant to dent small merchants’ profitability, the trend underscores a growing divide between high-volume clients and grassroots retailers.

Also Read: India’s Digital Tax Crackdown Widens: UPI Merchants Under Scanner

Notably, some PA firms view the fees as a mechanism for accountability. A founder remarked that unless banks charge them, there is little leverage during dispute resolution or system failures. Nonetheless, this cost of accountability still places additional financial weight on a sector already functioning on razor-thin spreads.

The strategic decision of whether to maintain nodal accounts with banks also plays a critical role. While it can lead to waived fees, doing so often results in lower interest earnings on parked funds—creating a financial trade-off that’s hard to ignore.

As India continues to champion UPI as the backbone of its digital financial infrastructure, the evolving fee structures and inter-bank dynamics are setting the stage for a recalibration of business models in the fintech ecosystem. For payment aggregators, the challenge lies in maintaining viability without compromising the affordability and accessibility that have defined the UPI success story.

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India-based Yes Bank’s share price remained flat ahead of its Q1FY26 results announcement. Market experts predict muted performance due to weak deposit and credit growth.

Shares of Yes Bank traded flat in early market hours ahead of the bank’s scheduled Q1FY26 earnings release. The stock opened at ₹20.20 on the National Stock Exchange (NSE), reaching an intraday high of ₹20.24 and a low of ₹20.07, before stabilizing around ₹20.08 per share.

According to financial analysts, the private lender is expected to post a muted quarterly performance, primarily due to declining deposit and loan metrics in the June quarter. As per its Q1FY26 business update, loans and advances contracted by 2% quarter-on-quarter to ₹2.41 lakh crore, despite a year-on-year increase of 5.1%. Meanwhile, deposits dipped 3% QoQ to ₹2.76 lakh crore.

A particularly sharp 7.3% QoQ drop in CASA deposits to ₹90,347 crore has raised concerns among investors. The CASA ratio slipped to 32.7% in Q1FY26 from 34.3% in Q4FY25, signaling a shift in depositor preference toward term deposits in India’s high-interest-rate environment.

Despite these challenges, Yes Bank maintained a Liquidity Coverage Ratio (LCR) of 135.7%, reflecting prudent short-term liquidity positioning. The Credit-to-Deposit ratio also improved to 87.5%, suggesting efficient capital deployment even amid deposit pressures.

Financial experts believe the bank’s ability to stabilize its liability franchise, manage asset quality, and curb slippages will be crucial indicators in the upcoming results. Investors are closely watching the bank’s commentary on its growth strategy, especially in terms of low-cost deposit mobilization.

Technically, Yes Bank’s stock is moving in a narrow range between ₹19.50 and ₹22. Analysts suggest a wait-and-watch approach, advising investors to maintain a stop loss at ₹19.50. A breakout beyond ₹22 could trigger a rally toward ₹24, while a fall below ₹19.50 could lead to further downside.

The Board of Directors of Yes Bank is set to meet on July 19, 2025, to consider and approve the unaudited financial results for the April-June 2025 quarter. Market participants await detailed disclosures to gauge the bank’s medium-term performance outlook.

Read the full article here: Yes Bank Trades Flat Ahead of Q1 Results; Muted Outlook — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

Yes Bank shares surged over 3% after reports surfaced that Japan’s Sumitomo Mitsui Financial Group (SMFG) is considering a $1.1 billion investment in the Indian lender, including acquiring convertible bonds and a 5% stake. This move signals SMFG’s increased interest in expanding its footprint in India’s banking sector.

Shares of Yes Bank, a prominent private sector bank in India, climbed more than 3% during intraday trading on July 16, 2025. This rise followed media reports that Japanese financial conglomerate Sumitomo Mitsui Financial Group (SMFG) is considering a strategic investment of $1.1 billion in the bank.

The proposed deal reportedly includes the acquisition of $680 million in convertible bonds and a 5% equity stake from existing shareholders such as Carlyle and others. If completed, this move will further solidify SMFG’s growing presence in India’s fast-evolving financial services industry.

Bond Rating Upgrade Reflects Strengthening Fundamentals

Adding to the positive sentiment, credit rating agency ICRA upgraded Yes Bank’s Infrastructure Bonds and Basel III Tier II Bonds worth ₹24,460.80 crore to ‘ICRA AA- / Stable’. The agency cited the bank’s improved loan book quality, a declining share of stressed assets, and consistent recoveries from security receipts as key factors supporting the upgrade.

ICRA also viewed the potential stake acquisition by SMFG as a credit-positive development, suggesting it may further bolster Yes Bank’s capital position and strategic outlook.

Mixed Q1FY26 Update Shows Operational Focus

In its provisional results for Q1FY26, Yes Bank reported a sequential decline in loans and deposits. Advances dropped 2% to ₹2.41 lakh crore, while deposits fell 3% to ₹2.75 lakh crore. Despite this, the CASA ratio improved year-on-year to 32.7% in June 2025 from 30.8%, although it dipped slightly from 34.3% in March 2025.

ICRA noted that the bank’s core operating profitability remains the focus, with efforts continuing on liability management and asset quality improvement.

Stock Performance: A Volatile Journey

On July 16, the stock touched an intraday high of ₹20.65, gaining 3.3%. However, it still trades 24% below its 52-week high of ₹27.20 recorded in July 2024. It had touched a 52-week low of ₹16.02 in March 2025. Over the last 12 months, Yes Bank’s stock has declined by 22%, although it has posted a 5% gain so far in 2025.

Read the full article here: Japan Bets Big on India’s Banking Sector via YES Bank — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

Udaan, a Bengaluru-based B2B e-commerce platform in India, is strengthening its in-house payment infrastructure via its group entity Hiveloop Internet Private Ltd (HIPL) after securing a Payment Aggregator license from the Reserve Bank of India (RBI). This move, aimed at reducing reliance on external partners like Yes Bank, is expected to improve operational control and cost efficiency across Udaan’s vast network of retailers and sellers.

Udaan, one of India’s largest B2B e-commerce platforms headquartered in Bengaluru, Karnataka, has received a Payment Aggregator license from the Reserve Bank of India (RBI) for its group entity Hiveloop Internet Private Ltd (HIPL). This regulatory approval will allow the company to directly handle merchant onboarding, payment collections, settlements, and reconciliation within its own digital infrastructure.

The move is a part of Udaan’s broader strategy to reduce external dependencies and improve cost control and operational efficiency. Presently, Udaan uses Yes Bank as its official payment aggregator. However, transaction flows are now expected to gradually shift to HIPL’s ecosystem.

HIPL’s infrastructure currently caters to Udaan’s internal network of over 30 lakh retailers and more than 2 lakh sellers. The platform offers APIs for UPI, debit/credit cards, net banking, RTGS/NEFT, and virtual account-based reconciliation. While the payments setup is restricted to internal operations for now, HIPL’s risk controls, including KYC and anti-money laundering measures, position it for third-party merchant onboarding in the future.

By managing payments in-house, Udaan is expected to significantly reduce transaction costs—typically ranging from 0.5% to 2% on high-volume platforms—and streamline internal workflows. The integration also aligns with Udaan’s earlier efforts to consolidate credit operations under Hiveloop Capital Pvt Ltd (HCPL), its NBFC arm under the Udaan Capital division, which now sees 64% of loans coming from off-platform financing.

In a strategic move earlier this year, Udaan completed a corporate restructuring to bring commerce, logistics, payments, and lending under one roof—Hiveloop Ecommerce Pvt Ltd. The restructuring, approved by the National Company Law Tribunal (NCLT), simplifies operations and boosts the company’s capital-raising capabilities ahead of a potential IPO by 2026.

Udaan recently closed its Series G funding round at USD 114 million, led by M&G Investments and Lightspeed, and is expanding its private-label business in core categories such as staples.

With this step, Udaan joins the ranks of players like Amazon, which runs Amazon Pay, and Flipkart, which uses a hybrid of internal and external payment systems to manage its transactions.

Read the full article here: Udaan Secures RBI Nod, Redefines Payment Infrastructure — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).