Author: Staff Writer

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Corporate

Coforge shares fall on $1billion deal talk

Shares of Indian IT firm Coforge slipped in early trade on Friday as investors monitored reports of a potential $1 billion acquisition and an upcoming fundraising decision. The stock opened lower on the National Stock Exchange, trading around Rs 1,724.3, down 0.77 percent. Over the past five trading sessions, Coforge shares have fallen about 6.5 percent, underperforming some mid-tier IT peers amid investor caution regarding possible equity dilution from fresh capital raising.

Reports suggest Coforge is in advanced discussions to acquire US-based digital engineering company Encora, a firm backed by private equity investor Advent International. Though neither company has confirmed the deal, sources indicate the proposed transaction could be valued at over $1 billion. If completed, the acquisition is expected to strengthen Coforge’s presence in cloud, data, and product engineering, while expanding its footprint in key international markets, particularly in the US.

Alongside the potential acquisition, Coforge has scheduled a board meeting on December 26 to consider a fundraising proposal. While the company has not explicitly tied the capital raising to the Encora deal, analysts note that a fresh infusion of funds could provide financial flexibility for strategic acquisitions. Investors are drawing parallels to a similar move in 2023, when Coforge raised Rs 2,240 crore through a Qualified Institutional Placement (QIP) to fund its purchase of Cigniti Technologies.

Despite short-term market jitters, Coforge’s fundamentals remain robust. The company has been among the faster-growing mid-tier IT firms in India, with consistent revenue growth and a focus on expanding key verticals such as banking, insurance, and travel. Analysts suggest that the stock’s near-term performance will likely hinge on updates regarding the Encora deal and the board’s fundraising decision.

Market watchers are also keeping an eye on broader IT sector trends and investor sentiment, noting that while acquisitions often bring long-term growth potential, they can also lead to temporary volatility in share prices. For Coforge, the next few days could prove pivotal in shaping both investor confidence and stock performance.

Also Read: India tests long-range submarine K‑4 missile

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Corporate

Infosys hikes fresher pay up to Rs 21 lakh

Infosys has significantly increased entry-level salaries for fresh graduates, offering packages of up to Rs 21 lakh per annum for specialised technology roles. The move is part of the company’s strategy to attract top talent in advanced digital and AI-related fields and positions it as a market leader in entry-level IT pay.

The company’s new salary structure is tiered to reward expertise in high-demand digital domains. Specialist Programmer L3 (Trainee) roles now offer Rs 21 lakh, L2 roles offer Rs 16 lakh, L1 roles Rs 11 lakh, and Digital Specialist Engineer positions start at Rs 7 lakh per annum. These packages are aimed at graduates from BE, BTech, ME, MTech, MCA, and integrated MSc programmes in computer science, IT, electronics, and related engineering streams.

Shaji Mathew, Infosys Group Chief Human Resources Officer, said the revised packages reflect the company’s commitment to building a workforce capable of delivering cutting-edge digital and AI solutions. “We are expanding our campus and off-campus hiring drives to bring in digitally skilled graduates under the specialist track, aligning talent acquisition with our AI-First strategy,” he added.

This revision marks a significant departure from the traditionally flat starting salaries in India’s IT sector, which often failed to keep pace with inflation or the rising demand for digital expertise. By offering differentiated pay for specialised roles, Infosys aims to attract graduates with the skills required to support its growing focus on artificial intelligence, cloud computing, and other emerging technologies.

The pay hike comes amid steady hiring momentum at Infosys, which onboarded around 12,000 freshers in the first half of fiscal 2025–26 and is targeting 20,000 graduates for the year. Other IT peers, including Tata Consultancy Services and HCLTech, have also introduced specialised pay tracks, but their top-tier offers remain below Infosys’s new benchmarks.

Also Read: North Korea reveals first nuclear submarine

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Beyond

India tests long-range submarine K‑4 missile

India has successfully test-fired its K‑4 submarine-launched ballistic missile (SLBM) from the nuclear-powered submarine INS Arighaat in the Bay of Bengal. The missile, with a range of 3,500 kilometres, represents a major step forward in strengthening India’s sea-based nuclear deterrence.

The launch was conducted under the supervision of the Strategic Forces Command. Defence analysts describe it as a significant move in boosting India’s “second-strike” capability, ensuring that the country retains the option to respond even if faced with a nuclear attack. The test underlines India’s progress toward operationalising a credible nuclear triad – the ability to deploy nuclear weapons from land, air, and sea.

Developed by the Defence Research and Development Organisation (DRDO), the K‑4 missile is a solid-fuel, intermediate-range weapon. It can carry a nuclear warhead of up to 2.5 tonnes. Designed for underwater launch, the missile exits the submarine, rises through the water, and then ignites its rocket motor to reach distant targets.

Previously, India’s submarines carried K‑15 missiles with a shorter range of around 750 km. The K‑4 dramatically extends the reach of India’s sea-based strategic forces, allowing for more flexible deployment and greater deterrence.

INS Arighaat, commissioned in August 2024, is India’s second nuclear-powered ballistic missile submarine. Its integration with the K‑4 missile marks a key milestone in strengthening the operational readiness of India’s strategic submarine fleet.

Although the Defence Ministry has not released an official statement, analysts say the test signals India’s growing strategic capabilities. With this achievement, India joins a small group of countries capable of firing long-range nuclear missiles from submarines, enhancing regional security posture and deterrence.

Also Read: North Korea shows first nuclear submarine

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Corporate

Adani bags ₹80,000 cr in deals since 2023

Since the start of 2023, the Adani Group has quietly orchestrated a series of strategic acquisitions, completing 33 deals worth nearly ₹80,000 crore ($9.6 billion) across ports, cement, power, transmission, and emerging sectors.

These moves mark a deliberate effort to rebuild investor confidence after the turmoil caused by US short-seller Hindenburg Research, which had raised allegations of accounting irregularities and stock manipulation earlier in the year. Adani has consistently denied these claims, and the latest transactions signal a steady return to business momentum.

Ports led the acquisition spree, accounting for about ₹28,145 crore in deals, followed closely by cement at ₹24,710 crore and power at ₹12,251 crore. Emerging businesses, including incubating ventures, contributed around ₹3,927 crore, while transmission and distribution added ₹2,544 crore. These figures do not yet include the planned ₹13,500 crore acquisition of the debt-laden Japyee Group, which is still under bankruptcy proceedings. Several other transactions are reportedly in the pipeline, reflecting the group’s ongoing expansion strategy.

Analysts attribute this resurgence to improved financial transparency, steady execution of projects, and sustained engagement with lenders, which have collectively helped stabilize funding and maintain operational momentum. The group’s comeback strategy emphasizes balance-sheet repair, selective expansion, and tighter capital allocation while continuing acquisitions in core sectors to protect cash flows and maintain scale advantages.

Notably, the largest single deal in recent times was the acquisition of Australia’s North Queensland Export Terminal, valued at ₹21,700 crore, highlighting Adani’s ambition to strengthen its global footprint.

Overall, these strategic moves reflect more than just deal-making—they signal a concerted effort to restore credibility, reduce leverage, and regain market confidence. By combining acquisitions with balance-sheet strengthening and operational discipline, the conglomerate appears to be gradually navigating past the Hindenburg crisis and setting the stage for sustained growth in both domestic and international markets.

Also Read: Zepto plans Rs 11,000 cr IPO, files confidential papers

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Corporate

Zepto plans Rs 11,000 cr IPO, files confidential papers

Zepto, the quick-commerce startup is gearing up for its initial public offering (IPO), planning to raise up to Rs 11,000 crore through the public issue. The company has filed its draft IPO papers confidentially with the Securities and Exchange Board of India (Sebi), a process that allows it to receive regulator feedback before making the IPO public.

This marks a key step in Zepto’s plans to list on the stock exchange in 2026, potentially making it one of India’s youngest startups to go public.

Founded by Aadit Palicha and Kaivalya Vohra, Zepto has carved a niche in the rapid grocery delivery sector, promising essentials delivered in minutes. The company operates through a network of dark stores in major Indian cities and has expanded rapidly, attracting strong interest from investors. Over the years, Zepto has grown its revenues significantly, although it continues to report losses as it invests heavily in market expansion and customer acquisition.

The planned IPO will include fresh shares issued by the company, along with stake sales by existing investors. This combination allows Zepto to raise fresh capital for growth while providing liquidity for early backers. To streamline operations and improve profitability ahead of listing, Zepto has implemented cost-reduction measures, including optimizing workforce and tightening customer-acquisition spending.

A consortium of investment banks, including Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities, and Motilal Oswal, has been appointed to manage the IPO. Subject to market conditions and regulatory approvals, Zepto aims to debut on the stock market in the July–September 2026 quarter.

The IPO comes amid a surge in Indian startup listings, particularly in technology, e-commerce, and delivery sectors. Zepto’s public debut is expected to join the ranks of firms like Zomato and Swiggy, showcasing investor confidence in the quick-commerce sector, despite intense competition and high operational costs. Analysts say Zepto’s rapid growth, strong market presence, and focus on operational efficiency make it an attractive opportunity for investors, signaling a new phase for India’s fast-growing on-demand delivery market.

Also Read: IndiGo cancels 67 flights as fog disrupts operations

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Beyond

Gold at ₹1,39,260, Silver at ₹2,34,100 after fresh gains

Gold and silver prices moved slightly higher in Indian markets on Friday, December 26, continuing their steady upward trend. According to market data, the price of 24-carat gold increased by ₹10, taking the rate to ₹1,39,260 per 10 grams. 22-carat gold also rose by ₹10 and was priced at ₹1,27,660 per 10 grams.

Gold prices showed small variations across major cities. In Mumbai and Kolkata, 24-carat gold was quoted at ₹1,39,260 per 10 grams. Prices were slightly higher in Delhi at ₹1,39,410, while Chennai recorded the highest rate at ₹1,39,870 per 10 grams. For 22-carat gold, most metros such as Mumbai, Kolkata, Bengaluru, and Hyderabad reported prices around ₹1,27,660 per 10 grams, with marginally higher rates in Delhi and Chennai.

Silver prices also moved up during early trade. The metal gained ₹100 per kg, taking the price to ₹2,34,100 per kg in markets such as Delhi, Mumbai, and Kolkata. In Chennai, silver was trading higher at ₹2,45,100 per kg, reflecting regional demand differences.

The mild rise in gold and silver prices follows firm trends in global bullion markets, where precious metals have remained strong due to investor interest and expectations around interest rates. Gold continues to be seen as a safe investment option, while silver has also attracted demand because of its industrial use and investment appeal.

Also Read: Sensex down 200 points, Nifty slips under 26,100

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Technology

Microsoft speeds up Windows encryption

Microsoft has rolled out a major upgrade to BitLocker, its built-in drive encryption tool for Windows, promising faster performance and better efficiency for users. The new feature, called hardware-accelerated BitLocker, is being introduced with the latest Windows 11 updates and is designed to make encryption less demanding on the system.

Traditionally, BitLocker relied mainly on the computer’s central processing unit (CPU) to encrypt and decrypt data stored on a device. While secure, this software-based approach could slow down performance, especially on laptops or systems handling large amounts of data. With the new update, Microsoft is shifting much of this work to specialised cryptographic hardware built directly into modern processors.

By using dedicated hardware for encryption, Windows can now secure data more quickly and with far less strain on the CPU. According to Microsoft, this change can deliver significantly faster read and write speeds on encrypted drives, bringing performance closer to that of unencrypted storage. It also reduces overall power consumption, which can help improve battery life on portable devices.

The hardware-accelerated BitLocker feature will automatically turn on for devices that meet the required hardware standards. These include newer processors and system-on-chips (SoCs) that support built-in encryption engines. Systems without compatible hardware will continue using the existing software-based BitLocker, ensuring no loss of functionality or security.

Security remains a key focus of the update. By handling encryption keys at the hardware level, the new approach adds an extra layer of protection. This reduces the risk of certain attacks that target encryption keys stored in system memory, complementing existing safeguards such as the Trusted Platform Module (TPM).

The rollout has begun with Windows 11 Insider Preview builds, including upcoming versions like 24H2 and 25H2. Microsoft is expected to make the feature more widely available as part of future stable releases, with support gradually expanding across more devices and hardware platforms.

Also Read: Russia eyes moon nuclear power by 2036

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1 Minute-Read

SFIO probes IndusInd Bank over derivatives accounting irregularities

The Serious Fraud Investigation Office (SFIO) has launched an investigation into IndusInd Bank following alleged accounting discrepancies in its derivatives portfolio.

The bank informed stock exchanges that it received a notice under Section 212 of the Companies Act, 2013, and is cooperating fully. Audits and internal reviews flagged irregular accounting of derivative trades, overstated microfinance income, and unexplained “other assets” and “other liabilities.”

These irregularities led to major adjustments in the bank’s financial statements. SFIO’s probe will examine the nature and extent of these discrepancies and whether they involve deliberate misreporting or lapses in compliance.

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Beyond

Russia eyes moon nuclear power by 2036

Russia is setting its sights on the Moon with a bold plan: to build a nuclear-powered energy station on the lunar surface by 2036. The initiative, led by the Russian space agency Roscosmos in partnership with aerospace firm Lavochkin Association, aims to provide a reliable, long-term power source for lunar missions and research.

The lunar power station is expected to support rovers, scientific instruments, and the International Lunar Research Station (ILRS), a joint project with China. While Roscosmos has not officially confirmed the use of nuclear technology, Russia’s involvement of its top nuclear agencies strongly suggests that nuclear energy will be at the heart of the project. Unlike solar panels, nuclear power can operate continuously, including during the Moon’s two-week-long nights, ensuring uninterrupted exploration.

According to Roscosmos chief Dmitry Bakanov, the project signals a move from short-term lunar visits to sustained operations. “This station will enable longer missions, more research, and eventually human presence on the Moon,” he said. The plan also positions Russia alongside global space powers like the United States, which is developing its own lunar nuclear reactor for 2030.

This announcement follows earlier setbacks, including the failed Luna‑25 mission in 2023. Despite these challenges, Russia is determined to strengthen its role in international space exploration and secure a foothold on the Moon.

Over the next decade, the project will involve spacecraft design, testing, and deployment of infrastructure on the lunar surface. Experts say the nuclear power station could be a game-changer, allowing more ambitious missions and laying the foundation for future human settlements.

Also Read: Bharti, Warburg Pincus take 49% in Haier India

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Beyond

RBI delays Jan 3 faster cheque clearance

The Reserve Bank of India (RBI) has indefinitely postponed the January 3, 2026 launch of the second phase of its faster cheque clearance system, which was expected to allow cheques to clear within three hours. The central bank cited the need to give banks more time to prepare for the tighter timelines.

The faster clearing system, known as the Cheque Truncation System (CTS) with Continuous Clearing and Settlement (CCS), began its Phase 1 rollout in October 2025. This phase already allows banks to scan, exchange, and settle cheque images electronically, cutting the traditional one- to two-day clearing period to just a few hours.

Phase 2 was designed to speed this up even further. Under the new rules, banks would need to approve or reject cheques within three hours of receiving them. If a bank did not respond within this window, the system would automatically clear the cheque. The goal was to make funds available to account holders faster and more reliably, benefiting both individuals and businesses.

However, implementing such a system across all banks proved challenging. Many banks needed additional time to streamline processes and ensure smooth integration with the new timelines. The RBI, acknowledging these practical difficulties, chose to postpone the rollout until further notice.

Meanwhile, the timings for cheque processing have been slightly adjusted. The presentation window now runs from 9 a.m. to 3 p.m., while the confirmation window is from 9 a.m. to 7 p.m. This gives banks more flexibility to manage cheque settlements under the existing Phase 1 system.

For everyday customers and businesses, there is no immediate change to the current clearing speed. The improvements from Phase 1 remain in effect, while the more ambitious three-hour settlement plan will be implemented only once banks are fully ready.

The RBI’s move highlights the delicate balance between speed and operational readiness in banking, ensuring that customers can enjoy faster payments without risking errors or delays during the transition.

Also Read: Navi Mumbai Airport opens with first flights