Date: 7 October 2025
Supreme Court to Review Constitutional Validity of STT
The Supreme Court of India has agreed to examine the constitutional validity of the Securities Transaction Tax (STT). Justice Pardiwala has issued a formal notice to the government. The petition contends that STT violates the fundamental right to equality and livelihood because it is levied on the transaction value rather than actual gains — contradicting the principle of direct taxation. Petitioners have also argued that STT breaches the double-tax-avoidance principle. Unlike TDS, the STT amount is non-refundable, adding to investor concerns.
Office Leasing in India Hits Record High
India’s office leasing activity touched an all-time record of 59.6 million SFT during Jan–Sep 2025, according to CBRE. The IT industry remains the biggest driver, aided by the expansion of Global Competency Centres (GCCs), which now account for nearly 40% of total leased space. Peripheral and non-metro markets are witnessing higher demand, while supply additions were led by Pune, Bengaluru, and the NCR region. Overall, IT and GCC occupiers represented over 60% of total absorption.
SEBI Clears DRHPs of Lenskart, Wakefit & Tenneco Clean Air
The market regulator SEBI has approved draft red herring prospectuses of several high-profile IPOs, including Lenskart, Wakefit Innovations, and Tenneco Clean Air. Lenskart, founded by Piyush Bansal and backed by SoftBank and Kedaara Capital, aims to raise ₹2,150 crore. Wakefit Innovations, supported by Peak XV Partners, plans to raise ₹468 crore. Meanwhile, Cordelia Cruises of Mumbai has filed to raise ₹727 crore via the primary market. These approvals underline a strong revival in India’s IPO pipeline.
Eli Lilly Announces $1 Billion Investment in India
Global pharma leader Eli Lilly will invest approximately $1 billion (₹8,900 crore) to establish a quality and manufacturing hub in India. The company already operates facilities in Gurugram, Bengaluru and Hyderabad. These new units will function as contract-manufacturing facilities to harness cost advantages while maintaining global quality standards. Hyderabad continues to strengthen its position as a healthcare and genetics hub, offering cost-effective operations and high-skilled manpower.
Government Steps In Amid Tata Trust Rift
With reports of an internal rift within Tata Trusts, the government is engaging directly with senior leaders. Noel Tata and N. Chandrasekaran are expected to meet officials to address differences among Trust board members. The Tata Trusts, which hold a major stake in Tata Sons, play a pivotal role in group governance. The government aims to prevent any disruptions to Tata Group’s operations or investor confidence. The Group’s combined market cap has fallen by $75 billion since January 2025.
Passive Funds AUM Surges 6.5 Times in Six Years
Assets under management in passive funds have multiplied 6.5 times in six years, reaching ₹12.2 trillion. The growth is driven by factors like low costs, diversification, transparency, simplicity and increasing awareness among retail investors. Many active funds have struggled to outperform indices after accounting for costs. That said, passive AUM remains largely institution-driven, with corporates and treasuries still dominating allocations.
Gold Prices Hit New Record Highs
Spot gold prices in global markets have soared to an all-time high of $3,920 per oz, approaching the $4,000 mark. In India, domestic gold prices crossed ₹1.30 lakh per 10 grams. The recent rate cut by the US Fed has further supported bullion as the opportunity cost of holding gold declines. Heightened global uncertainty — including the US government shutdown — has also boosted safe-haven demand. Gold has rallied over 50% since January 2025.
LG Electronics India Completes Successful Anchor Placement
On the eve of its IPO opening, LG Electronics India Ltd completed a robust anchor placement worth ₹3,475 crore. The company allocated 3.05 crore shares (3,04,81,539) to anchor investors at the upper price band of ₹1,140 per share. A total of 149 anchor investors participated, including the Government of Singapore, Norge Pension Fund and Goldman Sachs India. About 1.49 crore shares were allotted to 84 domestic mutual fund schemes across 26 AMCs, demonstrating strong institutional interest ahead of the public issue.
Source: News wires and exchange filings as of 07 October 2025
