Business News LIVE: Sensex jumps nearly 600 points, Nifty 50 closes above 25,200

Optimism over a potential India-US trade deal, as well as expectations of an interest rate cut by the US Federal Reserve, fuelled India's stock market today.

The 30-share S&P BSE Sensex jumped 0.73%, or 595 points, to 82,380.69 points while the broader NSE Nifty 50 ended 0.68% higher at 25,239.10 points.

Investors earned nearly ₹3 lakh crore during today's trading session, as the overall market capitalisation of BSE firms rose to nearly ₹463 lakh crore.

Mother Dairy has cut milk prices, as well as revised rates across its dairy and processed foods offerings, to pass on the benefits of a GST rate cut to buyers.

Effective 22 September 2025, one-litre ultra high-temperature milk will cost ₹75 as against ₹77 earlier, the wholly owned subsidiary of National Dairy Development Board said on Tuesday (16 September), adding that its entire portfolio of offerings now attracts GST of 5% or zero.

All the revised prices can be found here.

Suzlon Group has won its second-largest order ever, that from Tata Power Renewable Energy Ltd. for a 838 MW wind power project.

The project, part of Tata Power's so-called Firm and Dispatachable Renewable Energy (FDRE) initiative, will see Suzlon install 266 wind turbines rated at 3.15 MW each in Karnataka, Maharashtra and Tamil Nadu, according to a company statement on Tuesday.

IndiGo has announced its plans to start a Mumbai-Copenhagen flight from 8 October 2025, thereby expanding its presence in Europe.

The airline—operated by Interglobe Aviation Ltd.—will operate three weekly flights between India’s financial capital and Denmark’s national capital using the Boeing Co.’s 787-9 Dreamliner aircraft taken on wet lease from Norse Atlantic Airways, according to a statement Tuesday. In a wet lease, the lessee gets a flight crew—and sometimes even fuel—with a fully stacked aircraft.

The IndiGo Mumbai-Copenhagen flights will take off from Mumbai at 4:35 am IST and arrive at Copenhagen at 10:05 pm. The return flight is at 12:30 pm for an arrival just past midnight.

The Competition Commission of India has conducted surprise raids at steel pipe makers Jindal Saw Ltd. and Maharashtra Seamless Ltd. in an alleged case of bid rigging, Reuters reported on Tuesday.

The case was triggered by a complaint from state-run Oil and Natural Gas Corp. Ltd. in 2023, related to bidding of certain tenders by the steel pipe companies

SpiceJet Ltd. plans to lease eight additional Boeing 737 aircraft to increase its number of flights during the upcoming festive season. That, when the airline two consecutive quarters of losses.

The latest deal increases SpiceJet's aircraft order book to 18, including two earlier deals to lease 10 Boeing jets scheduled for delivery starting October.

Larsen & Toubro Ltd. has won a ₹1,000-2,500 crore order from the Nuclear Power Corporation of India Ltd. to set up a nuclear power plant in Tamil Nadu.

As part of the contract, L&T will install the nuclear reactor and turbine systems, sea water systems, polar and trestle cranes, and other related equipment, at the facility. It will also be involved in piping, supports, structural steelwork, painting, anti-corrosion coating, insulation and full testing across various buildings and structures on site.

The Securities and Exchange Board of India has approved the initial public offering of Pine Labs Pvt. Ltd.

The Pine Labs IPO will include a fresh issue of equity shares worth ₹2,600 crore alongside an offer-for-sale of more than 14.78 crore shares.

Investors Peak XV Partners, Actis, PayPal, Mastercard Inc., Temasek, Invesco, Madison India Capital and co-founder Lokvir Kapoor are likelt to offload their stake in the offering.

Pine Labs plans to utilise ₹870 crore from the fresh issue to repay debt, while ₹760 crore will be invested in IT assets, cloud infrastructure, technology development, and procurement of digital checkout points.

Hero Motors Ltd., an auto components maker part of the wider Hero Group, has received approved from the Securities and Exchange Board of India to launch an initial public offering.

The ₹1,200-crore Hero Motors IPO will see the company issue new equity shares worth ₹800 crore and an offer-for-sale of ₹400 crore by promoters.

OP Munjal Holdings will sell shares worth ₹390 crore, while Bhagyoday Investments and Hero Cycles will each divest ₹5 crore worth of shares.

The IPO proceeds will partly go towards repaying ₹285 crore of debt and funding ₹237 crore of equipment purchases for capacity expansion at its Gautam Buddha Nagar facility in Uttar Pradesh.

The rupee appreciated 12 paise to 88.04 against the US dollar in early trade on Tuesday as investors are awaiting cues from the US-India trade talks in New Delhi.

Forex traders said the rupee has faced persistent pressure from uneven flows and US President Donald Trump's tariff shocks.

At the interbank foreign exchange market, the rupee opened at 88.05 against the US dollar, then touched 88.04, registering a gain of 12 paise from previous close. In the initial trade, INR also touched 88.16 against the USD.

India's equity benchmarks—Sensex and Nifty—opened marginally higher on Tuesday, buoyed by optimism over progress in India-US trade talks ahead of the US Federal Reserve's interest rate decision.

The Nifty 50 added 0.17% to 25,110.75 points and the BSE Sensex rose 0.2% to 81,956.51 as of 09:30 am. Thirteen of the 16 major sectors advanced at open, although the gains were marginal. The broader small-caps and mid-caps added about 0.5% and 0.2%, respectively.