Celebrity Investments and Financial Services"

Celebrity Investments and Financial Services" INFORMATION ABOUT EQUITY MARKET,COMMODITY MARKET,

22/12/2025

* Commerce Minister Goyal to visit EU Jan 8-9 for FTA talks, says govt source
* India, Netherlands set up trade, investment panel to strengthen econ ties

* Jul-Sept earnings to be detailed by: Vidya Wires

* Board Meetings of:
+ Dr Lalchandani Labs, to consider rights issue of equity shares.
+ IIFL Finance, to consider raising of funds.
+ IRB InvIT Fund, to consider raising of funds.
+ Shish Industries, to consider raising of funds.
+ Silgo Retail, to consider raising of funds.
+ Softbpo Global Services, to consider preferential issue of shares.

* Annual General Meetings of:
+ Birla Corp
+ Punjab Communications


GLOBAL MARKETS
* US – US equity indices ended higher Friday, as technology stocks rebounded. Shares of artificial intelligence companies rose due to chipmaker Micron Technology's strong guidance for revenue for the current quarter. Shares of the company had recently come under pressure over high valuations and funding concerns. The stock rose 7%.

ASIA – Asian equity indices opened higher Monday tracking global cues, as Wall Street gained Friday due to a rise in technology stocks. Investors also welcomed the Chinese central bank's decision to keep prime loan rates steady.


IPO WATCH
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* Gujarat Kidney and Super Speciality Ltd. has raised RS 1 billion from anchor investors by allotting 8.77 million shares at RS 114 per share.

* Madhya Pradesh-based Symbiotec Pharmalab Ltd. Friday filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of up to RS 21.80 billion.

SECTOR NEWS
===========
* ECONOMY: A low CPI inflation reading and expectations of GDP growth slowing down ahead allowed the Reserve Bank of India's Monetary Policy Committee to lower interest rates in December, minutes of the committee's latest policy meeting show.

The government is considering easing the goods and services tax compliance burden for small businesses in the Union Budget for the next financial year.

* ENERGY: The share of coal in India's energy mix will shrink to 30-35% by 2047, and responsible use of fossil fuel is key to future development, according to experts.

The biogas sector is likely to see investments of over RS 50 billion in 2026-27 (Apr-Mar), buoyed by strong interest from investors and stakeholders this year, the Indian Biogas Association said.

* PHARMACEUTICAL: The Centre's decision to impose a minimum import price for certain pharmaceutical ingredients to counter dumping and predatory pricing from Chinese manufacturers is likely to boost offtake of locally produced pharmaceutical inputs, according to industry insiders.

* RAILWAYS: The railway ministry announced hikes in train tickets by 1 paisa per kilometre for ordinary class, beyond a journey of 215 kilometres and 2 paise per kilometre for non-AC classes of mail or express trains.

* REGULATORY: The Securities and Exchange Board of India will form a working group soon to review the non-agricultural derivatives segment, Chairman Tuhin Kanta Pandey said at an event in Delhi. SEBI is also engaging with the Reserve Bank of India and the Insurance Regulatory and Development Authority of India to allow banks and insurance companies to participate in the commodity derivatives market.

SEBI has clarified that there is no change in the existing regulatory framework for short selling.

The enactment of the Securities Market Code Bill, introduced in the Lok Sabha on the final day of the winter session and referred to the Standing Committee on Finance, could significantly alter market disclosures and add to the case load of the Securities Appellate Tribunal .

* TRADE: The proposed trade agreement between India and the Eurasian Economic Union will exclude chapters on services and investment, with the deal primarily focusing on tariff reduction in goods as well as some other areas.

India and New Zealand look to double bilateral trade in the next five years by reducing import duties on select products and enhancing collaborations in areas like agriculture.

STOCKS
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* ADANI ENTERPRISES: The Adani Group plans to foray into engine maintenance, repair, and overhaul, as well as passenger-to-freighter conversion, as the diversified conglomerate bets big on the domestic aviation market.

* BALKRISHNA INDUSTRIES: The company's board has approved the reappointment of Arvind Poddar as chairman and managing director for five years, effective Aug. 1.

* BANK OF BARODA: Received $29.39 million from the voluntary liquidation of India International Bank Malaysia, in which the public sector lender held 40% stake.

* CESC: The company's subsidiary, Purvah Green Power, has issued a binding letter of intent to Klasscorp Solutions for various consultancy services for its 250-megawatt wind farm at Bijapur in Karnataka, the company said in a notice to the stock exchanges Friday. Klasscorp will provide consultancy for acquisition of land and other related services to CESC.

* COROMANDEL INTERNATIONAL: Natarajan Srinivasan has resigned from the post of whole-time director, executive vice-chairman and director on the board of the company, effective Dec. 20.

* CRAFTSMAN AUTOMATION: The company's wholly owned subsidiary DR Axion India has entered into a share purchase agreement to acquire 100% stake in Suprash Developers.

* DEEPAK NITRITE: The company's wholly-owned subsidiary Deepak Chem Tech has issued and allotted 4.5 million optionally convertible redeemable preference shares, aggregating to RS 450 million to its another wholly owned subsidiary Deepak Phenotics Ltd, according to an exchange filing.

* FORTIS HEALTHCARE: The company's wholly owned subsidiary, International Hospital, will acquire 100% stake in TMI Healthcare Pvt. Ltd. for a cash consideration of RS 4.30 billion. The transaction is expected to be completed by the end of January.

* GO DIGIT GENERAL INSURANCE: The board of the company approved the merger of Go Digit Infoworks Services Pvt. Ltd. with itself Friday, the general insurance company informed in an exchange filing.

* GRANULES INDIA: The US Food and Drug Administration has issued five observations related to procedural requirements to subsidiary Granules Life Sciences.

* GREAT EASTERN SHIPPING: The company contracted to buy a secondhand very large gas carrier of around 84,048 cubic meters. The 2015 South Korean-built vessel is expected to join the company's fleet in the March quarter, Great Eastern said in an exchange filing. The purchase of the carrier will be financed entirely from internal accruals.

* IIFL FINANCE: Appointed Bibhu Prasad Kanungo as chairperson of the company's board, with immediate effect, the company informed in an exchange filing. The decision was made unanimously by the board of directors.

* INDRAPRASTHA GAS: Entered into a joint venture agreement with Hindustan Waste Treatment to set up compressed biogas plant or biofuel projects, the former said in a notice to the stock exchanges on Friday.

* INTERGLOBE AVIATION: IndiGo is likely to defer parts of its international expansion plan as it grapples with a persistent pilot shortage and increased regulatory scrutiny following the recent spate of flight cancellations.

* JUPITER WAGONS: The company's board has approved an allotment of 2.87 million shares of the company with a face value of RS 10 each, at a premium of RS 460 per share, pursuant to the conversion of 2.87 million convertible warrants against receipt of the balance subscription amount of RS 352.50 per warrant, to TATRAVAGONKA A.S.

* KAJARIA CERAMICS: The company said Dilip Kumar Maliwal, chief financial officer of its wholly-owned subsidiary Kajaria Bathware Pvt. Ltd., was found to have committed a fraud of RS 200 million over a period of the last two years.

* KOTAK MAHINDRA BANK: The Reserve Bank of India Friday said it has imposed a penalty of RS 6.2 million on the bank for non-compliance with several regulatory directions.

* KRISHNA INSTITUTE OF MEDICAL SCIENCES: The company has acquired an additional equity stake of 6.94% in Sarvejana Healthcare Pvt. Ltd. for RS 1.48 billion in cash, the company said in a filing with exchanges Friday.

* LARSEN AND TOUBRO: Views green-hydrogen as the most critical segment as it gradually builds up its presence in that space. This comes even as large scale battery and distribution remain key growth drivers for its utility business.

* NHPC: Will Tuesday begin commercial operation of the second unit of the 2 gigawatt Subansiri lower Hydroelectric Project, being constructed at a cost of around RS 270 billion.

* NLC INDIA: Commenced initial mining operations at Pachwara South Open Cast Project in Jharkhand from Friday, the company said in a notice to the stock exchanges.

* RELIANCE INFRASTRUCTURE: India Ratings and Research on Friday downgraded Reliance Infrastructure long-term rating on the company's bank loan facilities to 'IND C/IND A4' from 'IND B/Stable' citing an order from the Enforcement Directorate to place a lien on the company's bank accounts totalling about RS 778.6 million, pointing out alleged violations of the Foreign Exchange Management Act.

* RITES: Signed a memorandum of understanding with the government of the Republic of Botswana to collaborate on the development and modernisation of transport infrastructure in Botswana.

* SHRIRAM FINANCE: With the support of Japan's largest banking group, MUFG, which is investing RS 396.18 billion in the company, its chances of getting a universal bank licence got a boost.

* STATE BANK OF INDIA: Is poised to achieve an RS 10 trillion portfolio size for its home loans by FY27, driven by robust demand and a favourable low-interest rate regime.

* TATA CHEMICALS: The company's wholly owned subsidiary, Tata Chemicals International, has signed a share purchase agreement to acquire 100% stake in Novabay, a Singapore-based manufacturer of premium-grade sodium bicarbonate.

* TATA STEEL: The company has acquired 1.49 billion shares of its wholly owned overseas subsidiary T Steel Holdings for RS 13.55 billion.

The company received an order from the commissioner of Central Goods and Services Tax and Central Excise, Jamshedpur, Jharkhand, directing it to pay a tax amount of RS 4.93 billion and a penalty of RS 6.39 billion and appropriate interest on the total amount of tax, according to an exchange filing Friday.

* TECH MAHINDRA: The company received an order from the office of the regional provident fund commissioner in Pune directing it to remit nearly RS 12.9 billion to the provident fund accounts of certain domestic employees and employees deputed in foreign locations where India does not have a social security agreement in place.

* THE INDIAN HOTELS: The board of the company approved the ex*****on of a sale and purchase agreement to divest its entire 25.52% stake in Taj GVK Hotels & Resorts.

* TITAN: Is 'very bullish' for its watch business, which is expected to touch RS 1 billion sales in the next two years, according to a company official.

* ULTRATECH CEMENT: Received an order from the joint commissioner, Central Goods and Services Tax and Central Excise, Patna, directing it to pay a tax of RS 3.90 billion and an interest of 2.8 million, according to an exchange filing Saturday.

* VEDANTA: Fitch Ratings has raised its outlook on the company's UK-based holding company, Vedanta Resources Ltd., to 'positive' from 'stable' on expectations of rising earnings before interest, tax, depreciation, and amortisation, falling leverage, and stronger financial discipline. The rating agency affirmed the company's long-term foreign currency issuer default rating at 'B+'.

Its group company's Chairman Anil Agarwal said "dividend is in my blood", reaffirming a commitment to shareholder payouts alongside pursuing the group's planned $20 billion expansion across businesses even after the proposed demerger.

* VARUN BEVERAGES: Has proposed an acquitsition of 100% share capital in a South-Africa-based beverage manufacturer for an enterprise value of RS 11.19 billion.

* WAAREE ENERGIES: The company's subsidiary, Waaree Solar Americas Inc., has signed a deal with United Solar Holding Inc. to buy around 5.37 million series B shares for $30 million. The agreement is likely to be completed by Jan. 31.

21/12/2025

SEBI to form working group to review non-agri commodity F&O segment

Kajaria Ceramics Ltd said Dilip Kumar Maliwal, chief financial officer of its wholly-owned subsidiary Kajaria Bathware Pvt. Ltd. was found to have committed a fraud of 20 Cr Rs over a period of last two years. The company said Maliwal was involved in embezzlement and siphoning of funds of Kerovit Global Pvt. Ltd., a wholly-owned subsidiary of Kajaria Bathware, which is a step-down wholly-owned subsidiary of Kajaria Ceramics, according to an exchange filing. A financial loss due to the fraud in Kerovit Global will impact the company, being an ultimate holding company of Kerovit Global, it said in the filing.

IGL enters into J pact with Hindustan Waste Treatment to set up of compressed bio gas plant

KRISHNA INSTITUTE buys 6.9% stake in Sarvejana Healthcare for 148 Cr Rs

Fortis Healthcare arm to acquire TMI Healthcare for 430 Cr Rs

17/12/2025

CORPORATE EVENTS
* Jul-Sept earnings to be detailed by: Prabhat Technologies India
* Apr-Jun earnings to be detailed by: Supreme Engineering

* Board Meetings of:
+ GMR Power and Urban Infra, to consider raising of funds.
+ Indobell Insulations, to consider employee stock option scheme.
+ KPI Green Energy, to consider raising of funds.
+ Onelife Capital Advisors, to consider raising of funds.
+ Onix Solar Energy, to consider raising of funds by way of issuance of equity shares, warrants and increase in authorised share capital.
+ Sadbhav Engineering, to consider raising of funds.
+ Spandana Sphoorty Financial, to consider raising of funds.
+ Tirupati Tyres, to consider right issue of equity shares.
+ Yug Decor, to consider right issue of equity shares.

* Annual General Meetings of: Cian Healthcare, Gayatri Projects


GLOBAL MARKETS
* US – Indices, barring the tech-heavy Nasdaq composite, ended lower Tuesday. Nasdaq composite gained 0.2%. Investors assessed the November jobs report that was released on Tuesday, which came in better than expected. However, the unemployment rate came in at 4.6%, higher than economists' forecast of 4.5%, raising concern about the state of the US economy. The artificial intelligence stocks weighed on the S&P 500 index as investors continued to take profits from AI trade and move on to other areas of the market such as healthcare and utilities.

ASIA: Most indices opened on a positive note after the trade data in Japan showed that the country's exports grew 6.1% for November, beating the expectations of an average 4.8% growth and sharply higher than 3.6% in October. Japan's Nikkei was up 0.2% and South Korea's KOSPI rose 0.6%. The South Korean index rose after falling for two consecutive sessions.


IPO WATCH
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* Fusion CX Ltd. has received the Securities and Exchange Board of India's approval for its initial public offering, according to the market regulator's processing status of draft offer documents dated Friday. The public offering includes a fresh issue of up to RS 6 billion and an offer for sale of up to RS 4 billion.

* Lohia Corp. Ltd. has received approval from the Securities and Exchange Board of India for its initial public offering, according to the market regulator's processing status of draft offer documents dated Friday. The issue is solely an offer for sale of up to 42.26 million shares. The regulator issued its observation letter to the company on Dec. 8.

* RSB Retail India Ltd. has received approval from the Securities and Exchange Board of India for its initial public offering, according to the market regulator's processing status of draft offer documents dated Friday. The public offering includes a fresh issue of up to RS 5 billion and an offer for sale of up to 29.88 million shares.

* SFC Environmental Technologies Ltd. has received approval from the Securities and Exchange Board of India for its initial public offering, according to the market regulator's processing status of draft offer documents dated Friday. The offer includes a fresh issue of up to RS 1.50 billion and an offer for sale of up to 12.31 million shares.

* The Securities and Exchange Board of India has given its approval to Orient Cables (India) Ltd.'s initial public offering, according to the market regulator's processing status of draft offer documents dated Friday. The public offering includes a fresh issue of up to RS 3.20 billion and an offer for sale of up to RS 3.80 billion.

* The initial public offering of KSH International Ltd. was subscribed 15% on the first day, with the company receiving bids for 2.00 million shares against 13.62 million shares on offer, according to data on the BSE website.

* The initial public offering of ICICI Prudential Asset Management Co. Ltd. was subscribed over 39 times as of the final day, with the company receiving bids for 1.37 billion shares against 35.02 million shares on offer. Qualified institutional buyers showed the strongest interest on the final day. The portion reserved for them was subscribed nearly 124 times, with bids for 1.15 billion shares, against the 9.30 million shares on offer.

* Shares of Park Medi World will list on the bourses Wednesday. The company has set the issue price at RS 162 per share, which is the upper end of the price band. The initial public offering, which ended Friday, was subscribed over 8 times as of the final day, with investors bidding for 338.83 million shares against 41.82 million on offer.

* Shares of Nephrocare Health Services will list on bourses on Wednesday. The issue price has been set at RS 460 per share, the upper end of the price band for the company's initial public offering. The offering, which closed Friday, was subscribed almost 14 times, with the company receiving bids for 186.89 million shares against 13.39 million shares on offer.

* Quick commerce unicorn Zepto is likely to file draft papers for its initial public offering in the next 7–8 days.

SECTOR NEWS
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* COMMODITIES: The Multi Commodity Exchange of India is organising an industry-level dialogue on Wednesday to deliberate on the opportunities of India's exchange-traded commodity derivatives market, challenges encountered by financial institutions, and the ways to address these hurdles.

The Ministry of Heavy Industries notified the scheme to promote manufacturing of sintered rare earth permanent magnet. The scheme targets the creation of a domestic manufacturing capacity of 6,000 metric tonnes per annum of sintered Neodymium-Iron-Boron magnets, a key input for sectors such as electronics and electric vehicles.

* ENERGY: The centre has proposed removing the 50% ceiling on sales of coal and lignite produced from captive mines, a move aimed at clearing accumulated stockpiles and increasing mineral availability.

* FINANCE: Prime Minister Narendra Modi on Tuesday suggested linking Jordan's fast payment system with India's Unified Payment Interface. Jordan's fast payment system is called CliQ. India, in its effort to boost digital public infrastructure, has already integrated UPI with several other countries' fast payment systems. An interoperable fast payments system streamlines overseas remittances and merchant payments.

* GOVERNANCE: Agriculture Minister Shivraj Singh Chouhan introduced a new framework for rural employment, the Viksit Bharat - Guarantee for Rozgar and Ajeevika Mission (Gramin) Bill, 2025, in the Lok Sabha Tuesday.

* INSURANCE: The Lower House of Parliament Tuesday passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which will help revamp India's insurance framework, with a host of changes to the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the IRDAI Act, 1999, in order to modernise the sector, widen and deepen coverage and improve regulatory oversight. Most importantly, the bill makes way for raising the foreign direct investment limit in the insurance sector to 100% from 74%, as proposed in the Budget for 2025-26 (Apr-Mar).

* RAILWAY: The Standing Committee on Railways has suggested that railways should diversify sources of freight earnings, moving beyond coal, iron ore, and cement. The committee said the railway should intensify outreach to sectors such as FMCG, e-commerce, and fly ash.

* REGULATORY: SEBI is set to review a series of key regulatory amendments at its board meeting Wednesday. The agenda includes an overhaul of the mutual fund fee structure, a revamp of stockbroker regulations, new norms of pledging of shares in initial public offering bound companies, and simplification of offer documents, among others.

* SEMICONDUCTOR: Apple is in preliminary talks with some Indian chip manufacturers to assemble and package components for iPhone.

* TOURISM: Countries such as the UK, Singapore, and Canada have issued updated advisories for their nationals due to rising pollution levels in North India. Travel agents said international travellers are asking for tweaks in itineraries and would like to shorten their stay or skip travelling to Delhi-NCR.

* TRADE: During his two-day visit to Jordan, Indian PM Narendra Modi said that the two countries should aim to double their trade in five years.

India's shipments to China rose to $12.22 billion from $9.20 billion in Apr-Nov last year. Petroleum items and electronic goods have emerged as India's major exports to the South-East Asian nation.

India has moved the World Trade Organization against the safeguard measures introduced by the European Union on imports of ferro alloying elements in the form of import quotas from different countries.

STOCKS
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* ALEMBIC PHARMACEUTICALS: The company filed a writ petition with the High Court of Gujarat to quash and set aside supplementary invoices worth a total of RS 421.68 million issued by Madhya Gujarat Vij Co. Ltd. regarding installation of rooftop solar photovoltaic system.

* CESC: Signed a contract with Toolfab Renewable Energy & Infra for the supply of towers of wind turbine generators for Deshraj Solar's 300-megawatt wind project in Ralla and Kurburahalli villages in Andhra Pradesh.

* GLENMARK PHARMACEUTICALS: Glenmark Specialty S.A., a wholly-owned subsidiary of the company, has entered into an exclusive licence, collaboration and distribution agreement with China-based Jiangsu Hansoh Pharmaceutical Group for a third generation drug used to treat non small-cell lung cancer.

* GLOBAL HEALTH: The company Tuesday said CRISIL Ratings has upgraded the long-term rating on the bank facilities of the company to 'AA' from 'AA-' while revising the outlook to 'stable' from 'positive'.

* INDIAN OVERSEAS BANK: Said its promoter, the government, has proposed to sell a 2% stake or 385.13 million shares of the bank through an offer for sale on Wednesday and Thursday. The floor price of the stake sale is RS 34 per share, which is at a 7% discount to the stock's closing price of RS 36.57 Tuesday on the National Stock Exchange.

* INFOSYS: Said 83% of business leaders believe psychological safety directly impacts the success of enterprise artificial intelligence initiatives. The company's research study, in collaboration with US-based Massachusetts Institute of Technology, showed that employees' fear of failure remains one of the biggest barriers to adoption of AI. They often hesitate to experiment, challenge assumptions or lead projects due to fear of backlash, which undermines innovation even when the technology capabilities exist, Infosys said in an exchange filing.

* INDUS TOWERS: The Supreme Court on Tuesday upheld a Delhi High Court's November order validating Delhi Metro Rail Corp. Ltd.'s letter of acceptance to the company for installing and providing in-building solutions at various metro stations on the Delhi Airport Metro Express Line.

* ITC: The Competition Commission of India has approved the proposed acquisition of Aditya Birla Real Estate's paper and pulp manufacturing business by the company.

* JSW ENERGY: Is in the process of setting up two wind turbine blade manufacturing units in Gujarat and Karnataka.

* KAYNES TECHNOLOGY INDIA: Wholly owned subsidiary Kaynes Semicon Pvt. Ltd. has entered into strategic partnerships with two global technology companies to strengthen its upcoming semiconductor operations in India, the company said in its filing with stock exchanges.

* LARSEN & TOUBRO: The Telangana government plans to complete the takeover of Hyderabad metro rail project from the company's subsidiary, L&T Metro Rail (Hyderabad) Ltd. by March. In a review meeting on Tuesday, Telangana Chief Secretary K. Ramakrishna Rao asked transaction advisor IDBI Capital to submit its report on the takeover process, a state government release said. The state government has asked the company to cooperate with IDBI Capital to complete the takeover process smoothly within the stipulated time.

* LLOYDS METALS AND ENERGY: Borgos Multitrade LLP sold a 0.6% stake or 3 million shares of the company at RS 1,302.25 per share through a bulk deal on the National Stock Exchange. The total deal was for an aggregate value of RS 3.91 billion. The transaction was executed at a 1.1% premium to Monday's closing price of the stock.

* LUPIN: It has received the establishment inspection report from the US Food and Drug Administration for its injectables facility in Nagpur, with a satisfactory 'voluntary action indicated' classification. The inspection of the facility was carried out from Sept. 8 to Sept. 16, according to an exchange filing by the company.

* NBCC India: The company got two orders totalling to RS 3.45 billion. One order worth RS 3.33 billion from the Indian Institute of Technology Mandi, Himachal Pradesh, is for project management consultancy services. The other order, worth RS 120.5 million, is for annual maintenance work at Kandla Special Economic Zone in Gujarat.

* OLA ELECTRIC MOBILITY: Promoter Bhavish Aggarwal sold a 0.6% stake in the company for almost RS 919 million through a bulk deal Tuesday on the National Stock Exchange. He sold 26.26 million shares for RS 34.99 each, which is an over 6% discount to the stock's closing price Monday, as per data on the stock exchange. As of Sept. 30, Aggarwal held more than a 30% stake, or 1.32 billion shares, of the company.

* PIDILITE INDUSTRIES: Is expanding its paint venture called Haisha into the east from the southern markets, according to the company's managing director Sudhanshu Vats.

* PRESTIGE ESTATES PROJECTS: Its group company has exited the deal to develop a boutique luxury project in Kasturba Nagar, Delhi, following delays in approvals.

* RAILTEL CORP. OF INDIA: The company recieved a letter of acceptance from V.O. Chidambaranar Port Authority in Tamil Nadu for RS 268.85 million. The contract is for implementing advanced information technology infrastructure at the port and the order is expected to be executed by Aug. 15.

* RELIANCE INDUSTRIES: Reliance Consumer Products, a subsidiary of Reliance Industries, Tuesday announced its entry into the packaged foods segment with the relaunch of SIL, a 75-year-old legacy brand.

* SAREGAMA INDIA: The company's board approved the subscription of 9,960 compulsory convertible preference shares of Bhansali Productions for a consideration of RS 3.25 billion.

* STATE BANK OF INDIA: The Appointments Committee of the Cabinet has reappointed Ashwini Kumar Tewari as managing director for another term from Jan. 27 to Dec 31, 3027.

* SUNFLAG IRON AND STEEL: The Delhi High Court on Tuesday upheld the decision of the Ministry of Mines to declare the company as the preferred bidder for the grant of a composite licence for phosphorite mineral in respect of Surajpura Phosphorite Block in Madhya Pradesh.

16/12/2025

CORPORATE EVENTS

* Board Meetings of:
+ Canara Robeco Asset Management Co., to consider interim dividend
+ Fusion Finance, to consider fundraising
+ Gowra Leasing & Finance, to consider preferential issue of shares
+ Mufin Green Finance, to consider raising funds
+ Pulsar International, to consider rights share issue
+ Vuenow Infratech, to consider rights share issue


GLOBAL MARKETS
* US – Indices ended lower Monday ahead of key economic data reports this week. The S&P 500 ended slightly lower as some artificial intelligence stocks came under pressure. Investors opted for stocks more sensitive to the economy, such as consumer discretionary and industrials. They also had positive optimism on healthcare shares. This came after the tech-heavy index Nasdaq and the S&P 500 finished the Friday session lower.

ASIA – Most indices traded in the red, tracking the sell-off in the artificial intelligence stocks on the Wall Street. Major AI players in the US, such as Oracle and Broadcom, fell over 5% and 2%, respectively while Microsoft also saw some losses. Japan's Nikkei 225 fell 1.29% in early trade and Hong Kong's Hang Seng Index fell 1.50%.


IPO WATCH
=========
* KSH International has raised RS 2.13 billion from anchor investors by allotting 5.55 million shares at RS 384 per share, according to data on the BSE website. Of the total, five domestic mutual funds were allotted 4.41 million shares through eight schemes.

* The initial public offering of ICICI Prudential Asset Management Co. was subscribed 2.11 times as of the second day. The company received bids for 73.87 million shares against 35.02 million shares on offer, data on the BSE website showed.

* Gujarat Kidney and Super Speciality has filed a red herring prospectus with the Registrar of Companies for its initial public offering. The offer is entirely a fresh issue of up to 22 million shares. Bidding for shares will begin on Dec. 22 and close on Dec. 24. Anchor investors can submit their bids Friday.

The company has set its price band at RS 108 to RS 114 per share of face value of RS 2.

SECTOR NEWS
===========
* AVIATION: At least 300 fights were cancelled across Northern India after dense fog engulfed the National Capital Region in the morning. Hundreds of flights were delayed.

* BANKING: Scheduled commercial banks have written off farm loans worth RS 141.22 billion in Apr-Sept, Finance Minister Nirmala Sitharaman said in Lok Sabha Monday. Scheduled commercial banks, excluding regional rural banks and payment banks, wrote off loans to agriculture and allied activities totalling RS 218.82 billion in 2024-25 (Apr-Mar), the minister said.

Rising digital payment transactions have also increased the risk of incidents of fraudulent practices, including Unified Payments Interface frauds, Minister of State for Finance Pankaj Chaudhary said Monday. Till November, more than 1 million cases of domestic Unified Payments Interface frauds were reported with a total of RS 8.05 billion involved in them, he told the Lok Sabha in a written response to a question.


* COMMODITIES: The National Commodity and Derivatives Exchange has received an in-principle approval from the Securities and Exchange Board of India to launch a mutual fund transaction platform, the exchange said in a release Monday. This initiative is a natural precursor to the launch of the equity and equity derivatives segment.

India is expected to remain a surplus sugar producer in the sugar season 2026-27 (Oct-Sept) as well on expectations of strong sugarcane output, Ashwini Srivastava, joint secretary (sugar), Department of Food and Public Distribution, said Monday at the second Millet Maize DDGS (Distillers Dried Grains Solubles) Ethanol conference in Gurugram.


* E-COMMERCE: The Delhi bench of the National Company Law Tribunal has approved Walmart-owned e-commerce giant Flipkart's scheme of arrangement to shift its domicile from Singapore to India. The move comes ahead of Flipkart's reported plan to launch an initial public offering in India next year.

* ECONOMY: India's unemployment rate for people aged 15 years and above fell to 4.7% in November, the lowest since April, with joblessness moderating in urban as well as rural areas, according to the monthly Periodic Labour Force Survey from the Ministry of Statistics and Programme Implementation released Monday. The unemployment rate was 5.2% in October.

With the deadline for shifting to the newly launched Unified Pension Scheme ending on Nov. 30, only 122,123 government employees have joined the scheme, Minister of State for Finance Pankaj Chaudhary said Monday. This includes new joinees, existing employees, and retirees, the minister said in a written reply in Lok Sabha.

The recent fall in the Indian rupee against the US dollar was driven in part by tariff-related trade developments, Minister of State for Finance Pankaj Chaudhary said on Monday. The Indian currency slid to record lows against the US dollar due to concerns about US tariffs and weak capital inflows.

India is on track to achieve a debt-to-GDP ratio target of 56.1% by the end of FY26, Finance Minister Nirmala Sitharam said to Parliament Monday.


* ENERGY: The government Monday introduced a bill that seeks to open up the Indian civil nuclear energy sector to private sector players, except in uranium mining, after amending specific provisions dealing with issues like supplier's liability and compensation in case of a nuclear accident.

* EXPORTS: India's merchandise exports rose 19.4% on year to $38.1 billion in November, the fastest pace of growth in 41 months, driven by a sharp increase in shipments to the US, which rose 22.6%.

* HOSPITALS: After completion of its mandatory tender offer in FORTIS HEALTHCARE and Fortis Malar Hospitals, Malaysian health giant IHH Healthcare is aiming to add 2,000 beds to double down on value creation in India.

* REGULATORY: SEBI is planning to roll out a distribution framework for fixed income products soon. Under the proposed framework, there will be two categories of fixed-income securities distributors. The first will include already regulated entities such as non-banking finance companies, investment advisors and analysts. The second category will be composed of entities that have cleared a certification programme prescribed by SEBI or the Stock Exchanges.

* TAXATION: The government has detected goods and services tax evasion worth RS 30.13 billion through fraudulent registrations using forged Permanent Account Number and Aadhaar credentials in Apr-Oct, Minister of State for Finance Pankaj Chaudhary said Monday. The evasion involved 489 cases, Chaudhary said in a written reply to a question in Lok Sabha.

* TECHNOLOGY: The National Company Law Appellate Tribunal Monday said that WhatsApp LLC. must give users a choice for sharing data with Meta Platforms Inc. or other Meta companies for all non-WhatsApp purposes – non-advertising as well as advertising. It clarified on its Nov. 4 order, wherein it was inadvertently mentioned that the user choice would be only for non-advertising purposes, on a plea by the Competition Commission of India. Meta and WhatsApp cannot assert unilateral or open-ended rights over user data, the appellate tribunal said.

* TRADE: India and the US are hoping to finalise a framework trade pact "soon", according to commerce secretary Rajesh Agrawal.

India has started discussions on a preferential trade agreement with Mexico to cushion the impact of steep tariff increases by it on the country with which, it does not have a free-trade agreement.

The chief negotiators of India and Canada will meet this week to design the agenda and way forward on the proposed comprehensive economic partnership agreements, according to Commerce Secretary Rajesh Agrawal.

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* CAN FIN HOMES: The board has approved an interim dividend of RS 7 per share for the current financial year, with the record date set for Friday. The board also approved the reappointment of Suresh Srinivasan Iyer as managing director and chief executive officer for two more years with effect from Mar. 18.

* DELHIVERY: Has launched its on-demand intracity shipping service through its Delhivery Direct app in Mumbai and Hyderabad. The service offers pickup of shipments within 15 minutes of booking.

* EIH: Has announced the signing of a management agreement for an Oberoi luxury resort at the Makaibari Tea Estate in Darjeeling, West Bengal.

* GENERAL INSURANCE CORP. OF INDIA: The government held road shows in London to assess investor interest for a minority stake sale in the company.

* HCL TECHNOLOGIES: Has entered into a partnership with Aurobay Technologies, a division of the Swedish combustion powertrain solutions company Horse Powertrain, to manage and optimise its SAP (Systems, Applications, and Products) and Siemens Teamcentre product lifecycle management software in Sweden and China.

* IIFL FINANCE: S&P Global Ratings has revised the outlook on the company to "positive" from "stable" while affirming its long-term and short-term issuer credit rating at "B+" and "B", respectively. S&P Global has also affirmed its "B+" long-term foreign-currency issue rating on the company's outstanding dollar-denominated senior secured notes.

* INTERGLOBE AVIATION: The four-member panel set up by the Director General of Civil Aviation to investigate large-scale operational disruptions at domestic carrier IndiGo earlier this month, visited the airline's headquarters as part of the ongoing probe.

The Supreme Court refused to entertain a public interest litigation, seeking judicial intervention into the issue of cancellations of hundreds of flights by IndiGo and asked the petitioner to move to Delhi High Court.

* KRISHNA INSTITUTE OF MEDICAL SCIENCES: The company's subsidiary KIMS Hospital Bengaluru has commenced operations at its newly established hospital located on the PES University campus in Electronic City, Bengaluru. The 350-bed multi-specialty tertiary care hospital offers advanced care in cardiac, neuro, oncology, organ transplant, and robotic sciences.

* LEMON TREE HOTELS: Has announced the signing of an 80-room property at Bandipur in Nepal. The property will be managed by its wholly-owned subsidiary Carnation Hotels.

* MARUTI SUZUKI: Is gearing up to localise battery production and other critical components over the coming years as part of its strategy to strengthen the electric vehicle ecosystem in India.

* NEWGEN SOFTWARE TECHNOLOGIES: The company's wholly-owned subsidiary Newgen Software Technologies Co., incorporated in Saudi Arabia, has signed an agreement with a leading public sector bank of West Asian country for a project worth RS 386.4 million to design and develop a loan origination system.

* RBL BANK: Chief Financial Officer Buvanesh Tharashankar has resigned to pursue opportunities outside the bank. His resignation came into effect from close of business hours Monday. The lender said it has identified an interim chief financial officer, but did not provide further details about the key personnel.

* ROLTA INDIA: The Mumbai bench of the National Company Law Tribunal Monday approved Ashdan Properties' RS 9-billion resolution plan for the company. In 2024, the committee of creditors of the company had approved Ashdan Properties' resolution plan with all votes in favour.

* SHRIRAM FINANCE: Mitsubishi UFJ financial Group is nearing a deal to buy a minority stake in the company. MUFG may invest more than $3.2 billion to buy a stake of around 20% in the company.

* STATE BANK OF INDIA: Will Tuesday sign a 150-million-euro, or around RS 16 billion, Line of Credit with Germany's development bank KfW in Frankfurt to finance climate-friendly energy generation projects.

Ravi Ranjan has taken charge as the managing director of the bank after the finance ministry gave its approval. The appointment will be effective from the date of his assumption of charge till Sept. 30, 2028, or until further orders, whichever is earlier.

The company has launched YONO 2.0, a reimagined version of its digital platform, with the aim of competing with UPI heavyweights such as Phone PE and Google Pay.

* TATA CONSULTANCY SERVICES: The company has expanded its presence in Romania with the inauguration of a new office in Bucharest.

* TATA POWER: Will explore setting up small modular reactor projects of 20–50 megawatt capacity after legal amendments required for the entry of private players into the nuclear space, a top company official said.

* ZYDUS LIFESCIENCES: The US Food and Drug Administration has accepted a renewed application for copper histidinate, or CUTX-101, a drug meant to treat Menkes disease in paediatric patients. The drug is being developed by the company's US-based wholly owned subsidiary Sentynl Therapeutics Inc.

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