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Mahindra & Mahindra on Saturday announced the price reduction on its passenger vehicles, which range by up to Rs 1.56 lakh with immediate effect following the GST rate cut benefit to customers.The revised prices for all applicable ICE portfolios are effective from September 6, 2025, and will be transparently updated across dealerships and digital platforms, the company said.The company has reduced price of Bolero/Neo range by Rs 1.27 lakh, XUV3XO (petrol) by Rs 1.4 lakh, XUV3XO (diesel) by Rs 1.56 lakh, THAR 2WD (diesel) by Rs 1.35 lakh, THAR 4WD (diesel) by Rs 1.01 lakh and Scorpio Classic by Rs 1.01 lakh.Similarly, price of Scorpio-N is reduced by Rs 1.45 lakh, Thar Roxx by Rs 1.33 lakh and XUV700 by Rs 1.43 lakh.Earlier, Tata Motors and Renault India also announced a cut in vehicle prices owing to GST rate rationalisation. Meanwhile, Maruti Suzuki Chairman, Bhargav, has hinted at massive price cuts too. Mahindra model-wise price cuts post GST reductionModelCurrent GST+ CessNew GSTPrice reduction Bolero/Neo31%18%Rs 1.27 lakhXUV3X0 (Petrol)29%18%Rs 1.40 lakhXUV3X0 (Diesel)31%18%Rs 1.56THAR 2WD (Diesel)31%18%Rs 1.35 lakhTHAR 4WD (Diesel) 48%40%1.01 lakhScorpio Classic48%40%1.01 lakhScorpio N48%40%1.45 lakhThar Roxx48%40%1.33 lakhXUV70048%40%1.43 lakh

India’s retail sector is poised for a consumption-led revival as the GST Council’s recent decision to rationalize tax slabs promises to lower prices across a wide spectrum of goods. Effective September 22, the new structure simplifies the system into two primary slabs—5% and 18%—while retaining a 40% rate for sin and luxury items.The most significant impact is expected in categories such as apparel, footwear, consumer electronics, and daily essentials. Apparel priced between ₹1,000 and ₹2,500 now attracts just 5% tax instead of 12%, boosting affordability in the mid-premium segment, while footwear up to ₹2,500 also sees a steep reduction to 5%. Consumer electronics, including air conditioners and televisions, move to 18% from 28%, while a wide basket of essentials has been lowered to ~5% or even nil in certain cases. The mandatory pass-through of rate cuts to consumers is likely to drive a broad-based reduction in retail prices.These shifts could be particularly supportive of mass and mid-premium demand. Organized players in apparel and footwear are expected to gain competitiveness against unorganized peers, reversing the drag seen when GST on footwear was earlier raised to 12%. Consumer electronics may experience near-term purchase delays as shoppers await the new rates, but festive season demand is projected to accelerate post-implementation. Daily essentials, meanwhile, stand to benefit from both volume uptick and a tilt toward branded consumption.That said, challenges remain. The persistence of inverted duty structures—in which input materials attract higher GST rates than finished goods—has long strained working capital and margins for retailers. Inputs such as synthetic leather, rubber soles, adhesives, and man-made fibers continue to be taxed at 12–18%, creating a mismatch that eats into competitiveness. The government has acknowledged the issue, but clarity on corrective measures is still awaited.The broader policy shift signals a clear push toward consumption-driven growth, reinforced by recent tax cuts and GST reform. With rationalized rates reducing end-prices, organized retail is positioned to capture stronger demand in the mass and mid-premium segments. Over the medium term, this reset could mark a structural boost for the sector, widening the formal market’s share and deepening consumer engagement across categories.Amber Enterprises – TP: 9000Amber Enterprises is continuously increasing the share of components in RACs, adding new clients across AC and consumer durables, and expanding wallet share with existing customers, which supports sustainable growth in the consumer durables division. The GST 2.0 reforms, finalized by the Council, have reduced the rate on RACs from 28% to 18%, materially improving affordability and set to drive a sharp rebound in RAC demand, benefitting Amber as a key supplier to AC manufacturers. Further, with ongoing capex, acquisitions in niche electronics, and diversification across new electronics segments, the company is well-positioned to capture demand acceleration from GST-driven consumption tailwinds. We expect revenue/EBITDA/PAT to deliver a CAGR of 24%/32%/54% over FY25–28.Trent – TP: 6400TRENT’s growth momentum is supported by strong cost controls and disciplined execution, which continue to deliver healthy operating performance. The GST 2.0 reforms, which have reduced rates on apparel in the ₹1,000–₹2,500 price band from 12% to 5%, are expected to materially improve affordability and drive stronger demand across Trent’s key formats, particularly Zudio. We remain positive on Trent given its robust footprint expansion, a long runway for growth in Star (presence in just 10 cities), and the scaling up of emerging categories such as Beauty, Innerwear, Footwear, and LGDs. We expect revenue/EBITDA/PAT to deliver a CAGR of 20%/18%/17% over FY25–28E, aided by GST-driven consumption tailwinds and aggressive store expansion.(The author is Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd)(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Urban Company whose initial public offering (IPO) will open for subscription on Wednesday, September 10 has listed key risks in its Red Herring Prospectus (RHP) that investors should be mindful of before investing in the company's Rs 1,900 crore issue. The IPO document talks in detail about internal and external risks and these risks pertain to company's business operations, regulator and legal risks and IPO related risks. Take a look at 12 such warnings: 1) Sustained lossesThe company has reported net losses in recent years. Continued losses could impact financial stability and valuation. The company's EBITDA loss in the June ended quarter widened to Rs 4.8 crore versus Rs 3.4 crore in the year ago period.Certain of the company's subsidiaries and step down subsidiaries, including Handy Home which has a significant revenue contribution, have incurred losses in the past or are currently loss-making, some of which have been deregistered. These losses may continue in future, which could adversely affect the financial condition and results of operations.2) Intense competitionBoth organised and unorganised players compete in home services. Larger aggregators or new entrants could capture market share. The company in its RHP said that it faces intense competition from traditional offline players and due to low penetration of online services across the markets it serves. This has a bearing on its revenue and cost of operations.Limited operating history in some of its business lines such as products under the Native brand, its InstaHelp offerings, small home project offerings, wall panel services for home decor and cleaning subscription services is another caveat given by the company.3) High marketing & customer acquisition costsUrban Company spends heavily on promotions and discounts to attract and retain customers. Rising costs may compress margins. The company spent Rs 51.82 crore in the June quarter of FY26 versus Rs 48.63 crore in the year ago period. It was 14.11% of revenue from operations in Q1FY25 versus 17.32% in Q1FY24.4) Dependency on service professionalsThe platform relies on gig workers (beauty experts, repair technicians, cleaners, etc.). Attrition, dissatisfaction, or inability to onboard skilled professionals could disrupt operations. Its success significantly depends on its ability to maintain and increase its network of service professionals on the company's platform.In the June 2025 ended quarter, average monthly active service professionals stood at 54,347 versus 50,992 in June 2024. But for FY25, the average monthly active service professionals was lower at 47,833.The company also runs the risk of consumers and service professionals circumventing the platform and engaging through other means, thereby adversely impacting the business financial condition and results of operations.5) Legal & regulatory challengesAmbiguity around labor laws, gig worker classification, taxation, and consumer protection rules could expose the company to litigation and compliance costs. For instance, service professionals operating on Urban Company's platform are independent contractors and not employees under the existing regulatory framework of India. Changes in labor and employment laws and regulations that widen the scope of employment may classify service professionals as employees, which could result in additional obligations on the company,6) Technology & data security risksAs a tech-driven platform, it faces risks of outages, cybersecurity breaches, and data privacy issues, which may erode customer trust. The company relies on artificial intelligence (AI), including generative AI and machine learning technologies, which are still emerging and rapidly evolving. Company's failure to successfully develop, integrate, and deploy these technologies, or if its consumers are unable to effectively use them, the business could be harmed.7) Reliance on limited service categoriesA significant portion of revenue comes from beauty and wellness. Slowdown in demand here could hurt growth prospects.8) Geographic concentrationUrban Company earns a large share of revenues from a few top cities. Weakness in demand or regulatory shifts in these regions could impact business disproportionately.9) Cash flow pressuresHigh working capital requirements, delayed payments, or rising payouts to service professionals could strain liquidity.10. Valuation & market risks post-IPOGiven the history of losses and reliance on external funding, there is risk of overvaluation. Post-listing volatility could lead to investor losses.11) Dividend policyCompany's ability to pay dividends in the future will depend upon its future results of operations, financial condition, cash flows, working capital, capital expenditure requirements, and is subject to restrictions under Indian laws and regulations.12) Promoter holdingPost Offer, our Promoters will hold less than 20% of the post-Offer Equity Share capital of our Company and the shortfall of the minimum promoter contribution will be met by VYC11 Limited, one of the Shareholders.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The primary market is set for an action-packed week with a mix of mainboard and SME IPOs opening for subscription. Investors’ attention, however, will be firmly on the mainboard space where three offerings — Urban Company, Dev Accelerator, and Shringar House of Mangalsutra — are hitting the street. These companies will cumulatively raise over Rs 2,700 crore.Apart from the new issue openings, there are 8 listings scheduled for next week including that of Amanta Healthcare.Urban Company IPOUrban Company, India’s largest home services marketplace, is the highlight of the week. The company is launching its Rs 1,900 crore IPO on September 10, which will remain open until September 12.The offer includes a fresh issue of Rs 472 crore and an offer-for-sale of Rs 1,428 crore by existing shareholders. The price band has been set at Rs 98–103 per share, and at this range, the company is seeking a post-issue valuation of Rs 14,095–14,790 crore.This IPO is among the few tech listings in 2025, making it one of the most awaited offers of the year. Anchor investor bidding is expected a day before opening.Dev Accelerator IPOAnother mainboard listing lined up this week is Dev Accelerator Ltd., a flexible workspace provider. The company’s IPO will open alongside Urban Company on September 10 and close on September 12.Dev Accelerator has fixed a price band of Rs 56–61 per share and plans to raise up to Rs 143 crore through a fresh issue of 23.5 million equity shares. At the upper end of the band, the IPO values the company at about Rs 550 crore.While grey market buzz has been quiet so far, the company’s positioning in the fast-growing flexible workspace industry could attract investor interest as the subscription window opens.Shringar House of Mangalsutra IPOAlso opening this week is Shringar House of Mangalsutra, a Mumbai-based jewellery brand known for its mangalsutra designs. The IPO will open on September 10 and close on September 12, with a price band of Rs 155–165 per share.The company plans to raise Rs 401 crore through a 100% fresh issue of up to 2.43 crore shares. Shringar House holds around 6% market share in the organized mangalsutra segment (CY23) and is expected to use the IPO proceeds for expansion and working capital needs.Outlook for investorsWith three back-to-back mainboard IPOs opening this week, investors have a busy schedule ahead. While Urban Company stands out for its scale and rare tech IPO status, Dev Accelerator offers a play on India’s expanding flexible workspace industry, and Shringar House of Mangalsutra gives exposure to the organized jewellery space.SME issues such as Taurian MPS, Jay Ambe Supermarkets, Nilachal Carbo Metalicks, Karbonsteel Engineering, Krupalu Metals, and Airfloa Rail Technology are also lined up, ensuring plenty of opportunities for investors across segments.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Last year, Donald Trump couldn't stop talking about the economy. As a presidential candidate, he assailed Democrats for inflation and rode the persistent malaise over the high cost of living right back to the White House, promising swift relief even though economists warned that his plans could actually drive prices higher. Friday's lackluster jobs numbers are a reminder of how quickly the issue could present him, and his party, with political peril as elections approach. The economy added only 22,000 jobs in August, which, New York Times reporter Lydia DePillis explained, is a sign that the labor market appears to be stalling. Looking backward, the news is even worse: A revision to June's figures shows the labor market actually lost 13,000 jobs that month, making it the first negative number since December 2020. There are other signs of trouble. A key measure of underlying inflation rose over the summer as Trump's tariffs put pressure on prices, driving up the costs of things like furniture, appliances and clothing. Manufacturing activity has been shrinking for six months. It's not clear right now just what will happen to the economy between now and next year's midterm elections. (And Friday's news might deliver an upside for Trump: The darkening labor market could mean that he gets his long-sought cut to the interest rate, as Times reporter Colby Smith pointed out.) But what is clear, right now at least, is that the president has a problem. A recent Gallup poll found that his approval rating on the economy fell to 37% in August, from 42% in February. That's a steep drop from his average approval rating on the economy during his first term, which was 52%. When you dig into specific issues, it doesn't look any better. A poll late last month by The Economist and YouGov found inflation to be the top ranked issue for voters -- and just 34% of them approved of his handling of the issue, according to the poll. And then there's the vibe -- the feeling of malaise that weighed down President Joe Biden and Vice President Kamala Harris last fall. Last month, 63% of Americans thought the economy is getting worse, Gallup found -- 1 point higher than the 62% who believed that in October 2024, right before the election. Democrats are seizing the moment as an inflection point, eager to hammer home to voters what Trump has done to make the economy his own as they attempt to wrest control of Congress from Republicans next year. Trump passed expansive tax cuts into law and implemented steep tariffs that have driven up prices of everyday goods and raw materials. He is also trying to exert more control over the historically independent Federal Reserve. "The American people are feeling the impact of the Trump administration's dangerous one-man command policies in community after community," Rep. Hakeem Jeffries, D-N.Y., the House minority leader, said in a statement Friday. He added that Trump and Republicans had promised to lower the cost of living, but failed. Democrats have been struggling to unify around how to hit back at Trump, but many have taken a key lesson from their walloping loss in the 2024 elections. They believe a laser focus on the economy can help them win in tough races next year. Voters rated the economy as their top issue in every one of The New York Times and Siena College's preelection polls last year, and exit polls showed that Trump outperformed Harris among those who believed the economy was in poor shape. Trump's White House defended its handling of the economy in a statement Friday. Republicans say the midterms are a lifetime away, and that Trump will be able to shape what voters care about no matter what happens. "Will the economy always be top of voters' minds? Yes. But did voters care as much about trade, immigration or crime pre-Trump as they do now? No, and that's because Trump has made people care about things he thinks are important," said Bill Stepien, a Republican who managed the president's reelection campaign in 2020. "So don't assume President Trump will be reacting to any issue next November, because he will be trying to drive the discussion in his direction," Stepien added. Indeed, Trump is already working hard to make sure the midterms are about anything other than the economy. He has openly said that he believes his crackdown on crime in Washington -- which he has said he intends to expand to cities like Chicago and perhaps New Orleans -- will play well for him next fall. "I think it's going to be a big, big subject for the midterms," he said last week, referring to the issue of crime, "and I think the Republicans are going to do really well."