11:11 | US Russia sanctions bill; Tata Sons board meet; NSE IPO opens

Good morning!

The Fed has delivered another rate hike, and markets are now looking ahead to what comes next. Yale’s Todd Buchholz expects one or two more hikes could be on the table if inflation stays elevated, while gold and silver have slipped and the rupee has crossed ₹96 against the dollar for the first time since July 27.

India is also watching Washington closely. The government says it is monitoring the US Russia sanctions bill and will take necessary steps to protect its trade and economic interests.

Meanwhile, Donald Trump is set to meet Chinese President Xi Jinping at the White House next week, with trade and tariffs expected to dominate the agenda.

Back home, two major market events are unfolding. The ₹22,569 crore NSE IPO has opened for subscription, while the Tata Sons board is meeting amid questions over its IPO plans and N Chandrasekaran’s future. Motilal Oswal has also initiated coverage on newly listed Turtlemint with a 41% upside potential.

There is more across markets and business: Jefferies’ Chris Wood sees energy stocks as a hedge against West Asia risks, India’s top private banks face a succession crunch, and NITI Aayog’s latest EV index puts Delhi at the top, followed by Maharashtra and Karnataka.

Fed may hike rates one or two more times as inflation stays elevated: Yale's Todd Buchholz

The US Federal Reserve may have one or two more rate hikes in store, according to Todd Buchholz, Fellow at Yale University and former Managing Director at Tiger Hedge Fund. He said the Fed's unanimous decision suggests that policymakers believe a 25-basis-point hike alone may not be enough to bring inflation under control. However, weaker economic data or better-behaved inflation could change that view.

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India monitoring US Russia sanctions bill, vows to protect trade interests

India on Thursday said it was monitoring developments after the US Congress passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, while asserting that it would take all necessary measures to protect its trade and economic interests. In a statement, the Ministry of External Affairs said India remained “firmly committed” to ensuring energy security for its 1.4 billion people.

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Should you own energy stocks to hedge against West Asia war? Christ Wood thinks so

Chris Wood, Global Head of Equity Strategy, Jefferies, said Iran is unlikely to change its stance before the US midterms, keeping geopolitical uncertainty alive. He also explains why bond yields, China’s oil demand and US policy matter more for markets than headline moves. Why does he believe energy remains the best hedge?

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Donald Trump to meet Xi Jinping at White House next week: What’s on trade and tariff agenda

Trade tensions between the United States and China are expected to dominate talks when US President Donald Trump meets Chinese President Xi Jinping at the White House on September 24.

The two countries reached a fragile trade truce in October last year, easing a tariff battle that had sharply increased tensions. However, they have yet to reach a broad, permanent trade agreement.

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Tata Sons board meets today in pivotal session on IPO, Chandrasekaran's future

The Tata Sons board is set to meet on Thursday, September 17, with two big questions ahead of it: How the company responds to the Reserve Bank of India (RBI) order that brings a listing back on the table, and whether chairman N Chandrasekaran should stay on to see it through, people familiar with the matter told CNBC-TV18.

This is the first board meeting since Chandrasekaran told directors he would not seek another term. Sources said the board's Nomination and Remuneration Committee (NRC) may ask him to stay on until the IPO. A change at the top while the company prepares to go public could unsettle investors and the listing process.

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NSE IPO Day 1: ₹22,569 crore issue subscribed 11% in first 30 minutes of bidding

The ₹22,569 crore Initial Public Offer (IPO) of the National Stock Exchange (NSE), has opened for subscription on Thursday, September 17. The issue has been subscribed 11% in the first 30 minutes of bidding.

While the institutional portion has received negligible bids so far, the portion reserved for Non-Institutional Investors (NIIs) has been subscribed 19%, while those reserved for retail investors has been subscribed 14% so far.

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Stocks To Buy: Motilal Oswal sees 41% upside in this newly listed fintech firm

Shares of Turtlemint Fintech Solutions Ltd. gained 5% on Thursday, September 17, after brokerage firm Motilal Oswal initiated coverage on the newly listed stock, suggesting an upside potential of 41% from their previous close.

Motilal Oswal has initiated coverage with a "buy" rating and has set a target price of ₹180 per share.

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Why India’s top private banks are running short of CEOs for the top job

Indian-born bankers have led global financial giants from Deutsche Bank AG and Citigroup Inc. to Barclays Plc. Yet at home, the country’s lenders can face a string of challenges finding executives for the top job.

The subject of succession has been in sharp focus with India’s largest private bank — HDFC Bank Ltd. — hunting for a new chief executive officer after its current boss decided against seeking an extension. Another financial heavyweight, Kotak Mahindra Bank Ltd., is on its second CEO search in three years. Neither had a clear successor waiting in the wings, setting the stage for a complex hunt.

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Gold, silver slip after Fed hike; another rate increase signalled. What it means for bullion

Gold and silver prices declined in early trade on Thursday (September 17) after the US Federal Reserve raised its benchmark interest rate by 25 basis points and signalled that another rate increase could follow later this year.

COMEX gold was down 0.88% at $4,348.90 an ounce, while silver declined 0.90% to $64.335 an ounce, according to the latest available data.

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Rupee crosses 96 against dollar for first time since July 27

The rupee opened 3 paise weaker at ₹95.99 against the US dollar on Thursday (September 17), compared with Wednesday’s (September 16's) close of ₹95.96. The currency briefly moved back above the ₹96-per-dollar mark in early trade, its first move above that level since July 27.

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NITI Aayog's EV index 2025: Delhi keeps top spot as Maharashtra, Karnataka follow

Delhi retained its top rank in NITI Aayog's India Electric Mobility Index 2025, scoring 84 points as states race to boost EV adoption, charging infrastructure and innovation nationwide. Goa made the biggest jump among the leaders, climbing ten spots to fifth place with a score of 65.

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