This week witnessed a flurry of major developments, with the US House passing President Donald Trump’s “big beautiful bill”, the Securities and Exchange Board of India banning Jane Street Group from accessing the Indian securities market and HDB Financial Services Ltd. debuting on both the exchanges with a 13% premium.
Here are the key developments from this week.
Trump’s Big Beautiful Bill Passes US House
Trump achieved a sweeping shift of domestic policy after the House’s approval of a $3.4 trillion fiscal package.
The legislation reduced taxes, reduced funding for safety-net programmes and dismantled key aspects of Joe Biden’s clean-energy initiatives.
SEBI Bars All Jane Street
The Securities and Exchange Board of India has banned all Jane Street Group entities from accessing the Indian securities market. SEBI has ordered the impounding of Rs 4,843.57 crore, citing alleged unlawful gains.
Its enforcement action stems from findings that Jane Street earned a total of Rs 43,289.3 crore in profits through index options trading on Indian exchanges between Jan. 1, 2023, and March 31, 2025.
India’s Industrial Production
India’s industrial production growth fell to 1.2% in May, denoting a slowdown from the revised figure of 2.6% reported in April, according to data released by the Ministry of Statistics and Programme Implementation on Monday. This marks the weakest growth in nine months.
The manufacturing sector, constituting the largest portion of the industrial output index, recorded an annual growth of 2.6%, declining from the 5.1% expansion registered in May of the previous year.
Fiscal Deficit
India’s fiscal deficit during April–May stood at just 0.8% of the fiscal year 2026 target, supported by the Reserve Bank of India’s record dividend transfer of Rs 2.69 lakh crore last month.
The two-month deficit amounted to Rs 13,163 crore, compared to the fiscal 2026 budgeted estimate of Rs 15.68 lakh crore, as per the official data on Monday.
On the contrary, during the same period last year, the fiscal deficit was reported at 3.1% of the fiscal 2025 target.
HDB Financial Services Debuts On Exchanges With 13% Premium
HDB Financial Services Ltd. made a healthy stock market debut on Wednesday, with its shares listing at Rs 835 on both the NSE and BSE. This shows a premium of almost 13% as against to its IPO issue price of Rs 740 per share.
The company’s Rs 12,500-crore IPO, the largest public offering of 2025 obtained immense investor interest, oversubscribed by nearly 17 times.
The IPO’s grey market premium fluctuated, starting at its lowest point of Rs 50.5 per share on the first day of the offering, June 25.
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