Author: Sreelatha M

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ICICI Prudential AMC among top performers in 2025 IPOs

ICICI Prudential Asset Management Company delivered a strong stock market debut, becoming the second-best performing IPO of 2025 among issues exceeding ₹10,000 crore.

The ₹10,603-crore public offer listed at close to a 20% premium over its issue price, reflecting solid investor confidence. The IPO saw heavy demand across categories, especially from institutional investors, resulting in multiple times subscription.

Only LG Electronics India recorded higher listing gains this year in the large-IPO category. The robust debut highlights sustained interest in established financial services companies, even as overall market conditions remain selective.

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Corporate

Adani Airports to invest $11 billion, eye 11 new airports

Adani Group is set to expand its airports business with an investment of $11 billion (around ₹1 lakh crore) over the next five years. The money will be used to improve existing airports, build new terminals, runways, and provide better services for passengers.

Adani Airports already runs seven airports in India, including Mumbai and Ahmedabad, and is preparing to start operations at Navi Mumbai International Airport soon.

The group plans to bid for 11 airports that the government will lease to private operators in the next round of privatisation. The aim is to grow its presence in India’s fast-growing air travel market.

On the financial side, Adani Airports is considering bringing in a partner before its initial public offering (IPO), likely around 2028. The company is already making profits from operations but needs more investment to continue expanding.

The group confirmed it does not plan to start an airline, focusing instead on airport infrastructure, maintenance, and passenger services.

With this expansion, Adani Airports aims to strengthen its position as one of India’s largest airport operators, ready to meet the growing demand for air travel.

Also Read: Vodafone Idea shares up 4% on Rs 3,300 cr fundraise

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Technology

TikTok US joint venture limits ByteDance stake

TikTok, the popular short-video platform owned by Chinese company ByteDance, has signed a binding agreement to transfer control of its USoperations to a new joint venture. The step is aimed at avoiding a potential US ban, which was being considered over national security concerns related to ByteDance’s Chinese ownership.

Under the deal, the new company known as TikTok USDS Joint Venture LLC , will be majority-owned by American and global investors, including technology giant Oracle, private equity firm Silver Lake, and Abu Dhabi-based MGX. ByteDance will retain a 19.9% stake, the maximum allowed for a Chinese company under US law. Other ByteDance-affiliated investors will hold about 30.1%.

The agreement gives the joint venture control over key areas such as U.S. user data security, content moderation, software auditing, and algorithm management. Oracle will act as a “trusted security partner”, ensuring that American user data is stored safely on U.S.-based servers and regularly audited for compliance with security standards.

TikTok’s CEO, Shou Zi Chew, said the joint venture will operate independently and safeguard U.S. users’ privacy while maintaining the platform’s popular features and content.

The deal is expected to close by January 22, 2026, giving TikTok a clear path to continue serving over 170 million American users without regulatory interruptions. The agreement also follows years of U.S. scrutiny over TikTok, including threats of a ban and demands to limit Chinese ownership.

While the restructuring satisfies US legal requirements, some lawmakers have questioned whether a minority stake by ByteDance and continued access to its recommendation algorithm fully eliminate potential security risks. Analysts believe the joint venture represents a compromise that balances regulatory compliance, investor interests, and continued service for users.

Also Read: Ukraine to receive €90B EU loan, Russian assets omitted

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TCS AI revenue reaches $1.5 billion

Tata Consultancy Services (TCS) has reported $1.5 billion in annual AI revenue, highlighting the growing demand for artificial intelligence services.

The company has successfully completed over 5,500 AI projects across various sectors, strengthening its position as a leading AI-driven technology provider. To support this growth, TCS is hiring specialized “AI-native” talent, investing in data centers, and pursuing strategic acquisitions.

These moves aim to expand its AI capabilities and integrate advanced technologies into client solutions globally. The disclosure marks TCS’s first separate reporting of AI revenue, underlining its commitment to AI-led transformation and digital innovation worldwide.

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Leaders

Shashwat Sharma appointed Airtel CEO

Bharti Airtel has announced a major change in its top leadership. Shashwat Sharma will take over as Managing Director and CEO of Airtel India starting January 1, 2026. He will lead the company for a five-year term.

Sharma has been preparing for this role over the past year, working closely with the current CEO to ensure a smooth transition.

Gopal Vittal, the current CEO, will move to a new role as Executive Vice Chairman. In this role, he will focus on strategy, technology, networks, procurement, talent development, and overseeing Airtel’s group operations.

The company said these changes are part of a planned succession process to maintain leadership continuity and support Airtel’s growth in India’s competitive telecom market.

Other key appointments include Soumen Ray as Group Chief Financial Officer and Rohit Krishan Puri as Company Secretary and Compliance Officer, both starting January 1, 2026.

Sunil Bharti Mittal, Airtel’s Chairman, welcomed the leadership changes and expressed confidence that the new team will guide the company to future success.

Also Read: Reliance Consumer acquires majority stake in Udhaiyams Agro Foods

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Corporate

Reliance Consumer acquires majority stake in Udhaiyams Agro Foods

Reliance Consumer Products Ltd (RCPL), the FMCG division of Reliance Industries, has bought a majority stake in Udhaiyams Agro Foods, a well-known Chennai-based food company. The acquisition, completed on 18 December 2025, is aimed at strengthening Reliance’s presence in India’s packaged food and nutrition market.

Udhaiyams has been in the business for over 30 years and is recognized for staples, pulses, ready-to-cook breakfast mixes, snacks, and spices. The brand enjoys strong loyalty in Tamil Nadu and neighboring states, supported by a robust regional distribution network. With this deal, RCPL now owns more than 70% of the company, while the original promoters, S. Sudhakar and S. Dinakar, retain a minority stake and will continue managing operations.

The move is part of Reliance Consumer’s broader strategy to grow its branded staples portfolio and compete with established players like Tata Consumer Products, MTR, and iD Fresh Foods. By acquiring Udhaiyams, the company plans to bring a popular regional brand to a national audience, offering traditional Indian food products at high quality and affordable prices.

T. Krishnakumar, Director at RCPL, called Udhaiyams “a household name in Tamil Nadu” and said the partnership will help expand its reach and strengthen RCPL’s overall FMCG portfolio.

Industry experts see this acquisition as part of a wider consolidation trend in India’s consumer sector, where large companies are investing in regional and heritage brands to tap into local loyalty and scale operations nationally.

With Reliance’s backing, Udhaiyams is expected to grow beyond South India, leveraging RCPL’s distribution network and resources to reach new markets while preserving its legacy and regional identity.

Also Read: Coursera, Udemy merge to create $2.5B global learning hub

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Corporate

Coursera, Udemy merge to create $2.5B global learning hub

Coursera and Udemy, two of the world’s leading online learning platforms, are joining forces in a $2.5 billion all‑stock merger. The deal, approved by both companies’ boards, is expected to close in the second half of 2026, once regulatory and shareholder approvals are in place.

Under the agreement, Udemy shareholders will receive 0.8 Coursera shares for each Udemy share. After the merger, Coursera investors will own about 59 percent of the combined company, while Udemy shareholders will hold 41 percent. The merged platform will operate under the Coursera name and remain headquartered in Mountain View, California. Coursera CEO Greg Hart will lead the new entity, with co‑founder Andrew Ng continuing as Chairman.

The merger aims to address the growing global demand for AI‑driven skills. Coursera brings university-backed programs and enterprise credentials, while Udemy adds a wide range of instructor-led courses and flexible learning options. Together, they hope to create a comprehensive platform that serves learners, educators, and organizations worldwide.

The companies expect the combined entity to generate over $1.5 billion in annual revenue and achieve $115 million in cost savings within two years. They also plan to accelerate AI-focused courses and personalised learning experiences, helping students and professionals stay ahead in a rapidly changing job market.

Leaders say the merger will offer more opportunities for learners and businesses while positioning the platform as a global leader in online education. The deal reflects the trend of consolidation in the education tech sector as companies aim to meet the evolving needs of the workforce.

Also Read: Accenture sees 6% revenue rise on strong AI demand

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Corporate

Accenture sees 6% revenue rise on strong AI demand

Accenture reported stronger-than-expected revenue for the first quarter of its 2026 financial year, driven by high demand for AI-related services and broader digital transformation projects.

The global IT consulting firm posted $18.74 billion in revenue for the quarter ended November 30, 2025, beating analysts’ estimate of $18.52 billion and marking roughly 6 percent growth from last year. The results were at the top end of the company’s guided range, which forecast local-currency growth of 1 percent to 5 percent.

The performance reflects continued enterprise spending on technology, especially AI solutions that help businesses automate tasks and improve efficiency. New client bookings rose about 10 percent in local currency to $20.9 billion, including 33 contracts over $100 million each. Advanced AI bookings alone reached $2.2 billion, nearly double the same period last year.

CEO Julie Sweet said the results confirm Accenture’s strategy of helping clients scale digital and AI capabilities. As AI demand matures beyond pilots, integrating it into broader services highlights its growing importance in the company’s growth strategy.

Despite the strong AI growth, Accenture said it will stop separate reporting of AI revenue and bookings. The company explained that AI is now integrated across most client projects, making standalone reporting less meaningful. This shows how central generative and advanced AI has become in its consulting and managed services.

Accenture also exceeded its own operating margin guidance, closing the quarter with around a 17 percent margin compared with projections of 15.7 percent to 15.9 percent. The company maintained its full-year local-currency revenue growth forecast of 2 percent to 5 percent and expects second-quarter revenue between $17.3 billion and $18 billion.

Also Read: $4.5B MUFG deal could redefine Shriram Finance future

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Corporate

The Bank of Japan raises rates to 30-year high

The Bank of Japan (BoJ) raised its key short-term interest rate by 25 basis points to 0.75 percent on Friday, the highest level in 30 years. This marks a major shift from decades of ultra-low and negative rates, a policy aimed at stimulating growth and fighting deflation. The decision was unanimous and widely anticipated by markets.

Japan has been grappling with persistent inflation. Core consumer prices recently hovered around 3 percent, above the BoJ’s long-standing 2 percent target. The rate hike is part of an effort to normalize monetary policy while ensuring that inflation remains under control.

BoJ Governor Kazuo Ueda said the central bank will make future decisions based on economic data, including activity, prices, and financial stability. He added that even with the current increase, real interest rates are still negative, leaving room for further adjustments if needed.

Financial markets reacted quickly. The Japanese yen weakened against the US dollar, while Japan’s stock market, the Nikkei 225, maintained its gains. Government bond yields rose, reflecting expectations of continued tightening. Global bond markets, particularly in Europe, also saw modest increases in yields.

Investors worldwide are closely watching the BoJ’s move. Higher Japanese rates could make the “yen carry trade” less attractive. This trade, where investors borrow yen at low rates to invest in higher-yielding overseas assets, has been a key factor in global currency flows. A reduction in carry trades may create more volatility in foreign exchange and financial markets.

The BoJ’s decision highlights the challenges of balancing inflation control with economic growth in Japan, an economy facing structural pressures like a shrinking workforce. Analysts expect the central bank to monitor upcoming economic data carefully to determine the pace of future rate hikes.

This historic decision signals that Japan is moving toward a more conventional monetary stance, ending an era of ultra-cheap money that has defined the country’s economic policy for decades. Markets and policymakers globally will watch closely for any ripple effects in currencies, investment flows, and borrowing costs.

Also Read: Vodafone Idea shares up 4% on Rs 3,300 cr fundraise

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Corporate

Sensex up 460 Points, Nifty near 26,000 as markets open firm

The Nifty 50 hovered near the 26,000 mark in early trade, while the Sensex climbed about 460 points, as Indian equities began the December 19 session on a firm note supported by positive global cues.

Market sentiment improved after overseas markets moved higher, supported by easing concerns over interest rates following encouraging economic data from the United States. Asian markets also traded in the green, helping lift domestic investor confidence.

On the stock-specific front, Ola Electric Mobility and Atul were among the top gainers, posting sharp early gains. Heavyweights such as Bharti Airtel and Reliance Industries also traded higher, supporting the benchmark indices. Midcap and smallcap stocks saw modest buying interest, pointing to broader market participation.

Meanwhile, ONGC, Mahindra & Mahindra, Cipla, Eicher Motors, and JSW Steel were among the stocks trading lower, limiting further upside in the indices.

Overall, positive global signals and easing inflation concerns helped Indian markets begin the day on a firm footing, with investors cautiously optimistic about near-term trends.

Also Read: Sensex slips 78 points, Nifty ends flat