RBI Steps In: How India’s Central Bank Is Calming the Rupee Storm

Welcome Back Investor!

Global brokerage Jefferies has dropped its September Shopping List, spotlighting five Indian stocks primed for a rally: Mahindra & Mahindra, TVS Motor, Jindal Stainless, Sun Pharma, and Mankind Pharma. The big bets? M&M is accelerating with strong tractor growth and a bold EV push, while Sun Pharma’s specialty drug portfolio is gearing up for a major boost in dermatology and oncology. TVS and Jindal Stainless are set to benefit from rising demand in autos and steel, while Mankind Pharma continues its growth trajectory. The takeaway: sectors with scale and momentum are where Jefferies sees upside.

Let’s dive in!

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Today’s Market Menu

▪️ Impact News

▪️ Markets

▪️ Everything else you need to know today

▪️ Special

▪️ Mindset

▪️ Stock Screener to up your game

IMPACT NEWS

Why RBI Is Boosting Its Role in the Offshore Market to Protect the Rupee

India’s central bank, the RBI, has stepped up its presence in the offshore non-deliverable forward (NDF) market to curb volatility in the rupee, which has come under pressure due to shifting global trade dynamics. With U.S. tariff risks prompting importers to hedge more aggressively and exporters holding back on dollar sales, the demand-supply imbalance has tilted against the rupee.

Recently, when the exchange rate touched around ₹88.40 per dollar, the RBI intervened by selling dollars in the NDF market - a strategic move designed to anchor expectations without draining too many reserves domestically. The result has been immediate: rupee implied volatility has dropped to a six-month low, signaling that markets are responding to the central bank’s steady hand.

This approach reflects a more adaptive RBI strategy - moving away from heavy onshore interventions to a subtle but effective offshore presence. For businesses dependent on stable exchange rates, from exporters to foreign investors, the message is clear: the RBI isn’t just defending a number, it’s defending confidence.

MARKETS

Today, the market saw a mixed trend - Sensex slipped 119 points and Nifty fell 45 points, mainly due to profit booking in IT, pharma, and auto stocks. On the other hand, mid- and small-cap stocks gained as companies like Engineers India, RailTel, and Shakti Pumps announced fresh orders, boosting investor confidence. The cautious mood came ahead of the U.S. Federal Reserve’s policy meeting, keeping big investors on the sidelines. Sector-wise, money rotated out of defensives into realty, telecom, power, and capital goods, which helped limit the fall. Overall, the market stayed range-bound with selective buying in broader indices.
_{Closing figures as on 15.09.25 (3.30pm IST)}

🔎 In Focus

Stock Performance:

Top Gainers

✅ Vodafone Idea (+6.27% @ ₹8.14): Heavy volumes lifted the stock as traders bet on near-term regulatory clarity and momentum carried it higher. Bulls stayed in control throughout the day.

✅ SBI Card (+5.13% @ ₹900.05): Strong buying interest with festive-spend optimism boosting sentiment. Financials outperformed, and SBI Card saw steady accumulation.

✅ Tube Investments (+3.80% @ ₹3,354.10): Mid-cap favorite drew institutional buying. No negative news; today’s rise came on strong volumes, showing investor confidence.

✅ Indian Renew (+3.41% @ ₹152.37): Demand in renewables remained firm after successful fund-raising via bonds. Stock stayed on trader “buy” lists with open interest building.

Top Losers

🔻 Bandhan Bank (-1.66% @ ₹162.14): Stock lagged peers as microfinance concerns kept sentiment weak. No fresh positive triggers led to cautious trading.

🔻 Asian Paints (-1.72% @ ₹2,502.60): Pressure from margin concerns due to crude prices and ongoing regulatory overhang from the CCI antitrust case. Traders booked profits.

🔻 Mahindra & Mahindra (M&M) (-1.66% @ ₹3,530.30): Fifth straight decline as auto sector saw profit-taking. No fresh negative news; move looks technical after prior gains.

🔻 Biocon (-1.90% @ ₹358.25): Stock stayed under pressure after last week’s USFDA inspection updates. Today’s fall was largely profit-taking within pharma names.

INDIA FRONTIER

Everything else you need to know today

🧊 Frost: Pakistan coach Mike Hesson expressed disappointment after Indian players skipped the traditional post-match handshake at the Asia Cup 2025. He called it a missed moment for sportsmanship, while Pakistan’s skipper even skipped the presentation in protest.

🚀 Leap: India just became the world’s most populous nation, officially overtaking China. This demographic shift carries massive implications for global trade, supply chains, and economic growth. With a younger workforce and growing consumer market, India is being positioned as both the factory and marketplace of the future.

🔄 Pivot: Vodafone Idea (Vi) has shelved its plans for 5G fixed wireless access (FWA) broadband, deciding to focus instead on mobile customer growth. While rivals chase FWA to expand revenues, Vi is betting on converting its 2G/4G base into mobile 5G users - a leaner, more immediate growth path.

⚡ Charge: Ola Electric has filed a ₹400 crore PLI claim, backed by around ₹3,000 crore in eligible EV sales for FY25. With the incentive covering 13-14% of sales, Ola could gain a strong financial boost. As India doubles down on EV adoption, Ola looks set to tighten its grip on the two-wheeler EV market.

SPECIAL

ITR Filing Deadline: No Extension Beyond September 15, 2025

The Income Tax Department has made it clear - the last date to file your Income Tax Returns (ITR) for AY 2025-26 is September 15, 2025, and there will be no extension this year. Despite speculation and social media rumors suggesting a shift to September 30, authorities have officially debunked those claims.

So far, over 6 crore taxpayers have already filed their returns. If you’re still holding back, remember that missing today’s deadline comes at a cost. While you can still submit a belated return until December 31, 2025, it attracts penalties, interest on unpaid taxes, and limits certain deductions.

The department has also urged taxpayers to ensure PAN-Aadhaar linking and verify all details through the e-filing portal, including Form-16, Form 26AS, and AIS records. Quick compliance not only saves you from penalties but also ensures faster refunds.

THE HANOOMAAN INSTITUTE

📚 5 Books That Can Build More Wealth Than Any Financial Advisor

When it comes to building wealth, sometimes the best teachers aren’t financial advisors - they’re books. The right ideas, applied consistently, can transform your financial future far beyond expensive consultations.

The list begins with “Rich Dad Poor Dad” by Robert Kiyosaki, which flips traditional money lessons on their head, showing why assets - not salaries - drive long-term wealth. Then there’s “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko, which uncovers the surprising frugality and discipline behind America’s quiet millionaires.

Benjamin Graham’s classic “The Intelligent Investor” remains a bible for value investing, teaching patience and rationality in markets driven by emotion. “Think and Grow Rich” by Napoleon Hill brings mindset into play - emphasizing desire, belief, and persistence as wealth multipliers. Finally, “Your Money or Your Life” by Vicki Robin and Joe Dominguez reframes wealth as freedom, not just accumulation.

Each of these books delivers more than strategies - they offer timeless frameworks. Read them, apply them, and you’ll build not just money, but financial wisdom.

SUPERCHARGE YOUR INVESTING SKILLS

STOCK SCREENER TO UP YOUR GAME

MULTI-BAGGER IDEAS
by - Investor

Debt to equity < 1 AND
Profit growth 5Years > 15 AND
Profit growth 10Years > 15 AND
Operating cash flow 3years > 0 AND
Operating cash flow 5years > 0 AND
Operating cash flow 10years > 0 AND
Cash from operations last year > 0 AND
Cash from operations preceding year > 0 AND
Free cash flow 5years >0 AND
Free cash flow 10years > 0 AND
Return on assets 3years > 8 AND
Return on assets 5years > 8 AND
Average return on capital employed 3Years > 20 AND
Average return on capital employed 5Years > 20 AND
Average return on capital employed 10Years > 20 AND
Pledged percentage < 10 AND
Change in promoter holding 3Years > -15% AND
Current assets > Contingent liabilities AND
Market Capitalization > 500

Thanks for reading.

Until tomorrow!

Hanoomaan India Business team

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