The Indian rupee strengthened to 94.39 against the US dollar amid bullish commentary from Goldman Sachs, which projected the currency to outperform Asian peers due to Reserve Bank of India policy measures, reduced Russian oil imports, and improved trade discussions with the United States. Meanwhile, benchmark equity indices traded range-bound, opening flat around 23,888, with IT stocks facing downward pressure while broader market counters showed resilience. Tata Motors launched an all-cash voluntary offer worth 3.82 billion euros to acquire full ownership of Italian vehicle manufacturer Iveco Group through its Dutch arm TML CV Holdings. On retail data, August vehicle registrations grew 18% year-on-year, driven by robust non-tractor segments. Separately, the Supreme Court took up a petition demanding restrictions on unpredictable airfares and ancillary charges alongside the establishment of an independent aviation regulatory body, as the central government works on framed rules under the Bharatiya Vayuyan Vidheyak framework.
