Author: Staff Writer

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Corporate

SpaceX hits $800 billion valuation ahead of 2026 IPO

SpaceX, the private aerospace company founded and led by Elon Musk, has taken a significant step toward becoming a publicly traded company. A recent insider share sale has valued SpaceX at around $800 billion, highlighting strong investor confidence as the company prepares for an initial public offering (IPO) expected in 2026.

The share sale allows existing and new investors to purchase SpaceX stock at $421 per share, a price that reflects the company’s rapid growth and ambitious plans. Analysts suggest that the IPO could raise more than $25 billion, potentially pushing SpaceX’s valuation even higher, depending on market conditions. If the company executes its plans successfully, it could become one of the largest IPOs in history.

SpaceX’s soaring valuation is largely supported by its Starlink satellite internet business, which has been expanding quickly. Starlink currently provides internet services in multiple countries and is now planning direct-to-mobile connectivity, which could open a major new revenue stream. In addition, the company continues to make progress on its Starship rocket program, designed for ambitious missions to the moon, Mars, and potentially beyond. These innovations are key drivers behind the company’s strong market interest.

Despite the excitement, SpaceX executives have emphasized that the timing and final valuation of the IPO remain uncertain. Factors such as global market conditions, regulatory approvals, and the company’s operational milestones could influence the final launch. The insider sale, however, demonstrates a clear commitment to preparing the company for public investment.

Elon Musk’s leadership and vision have been central to SpaceX’s growth, from reusable rockets to global satellite internet. Going public would not only provide a new capital influx but also mark a historic moment in financial markets. For investors, the IPO represents a rare chance to participate in a company that is shaping the future of space travel and connectivity.

With its record valuation, technological innovations, and ambitious expansion plans, SpaceX is positioning itself to become a dominant force in both aerospace and the broader tech sector, attracting attention from investors and industry watchers worldwide.

Also Read: Elon Musk confirms SpaceX IPO in 2026

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Corporate

Sensex down 260 points, Nifty slips near 25,950 in weak start

The equity benchmarks opened lower on Monday, reflecting a cautious start to the trading session. Both the Sensex and the Nifty slipped in early trade as investors reacted to weak global cues and avoided aggressive buying.

The Sensex declined by around 260 points, while the Nifty traded close to the 25,950 level. Selling pressure in key heavyweight stocks weighed on the benchmarks, keeping the overall market sentiment subdued during the early hours.

Weak global trends played a major role in shaping domestic market movement. US markets ended the previous session lower, while Asian stocks also traded in the red. This dampened risk appetite among investors and led to cautious trading in Indian equities.

On the stock-specific front, Shriram Finance, Asian Paints and Tech Mahindra were among the notable gainers, supported by selective buying. However, their gains were limited and insufficient to lift the broader indices.

On the losing side, ONGC, Cipla, Apollo Hospitals, Max Healthcare and Bharti Airtel faced selling pressure and emerged as key drags on the benchmarks. Losses in these large-cap stocks pulled the Sensex and Nifty further into negative territory.

Overall, the market mood remained cautious, with investors closely watching global cues and institutional flows for further direction during the session.

Also Read: Venezuela oil exports drop after US tanker seizure

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Corporate

Ozempic debuts in India for type 2 diabetes

Global pharmaceutical company Novo Nordisk has launched Ozempic, a once-weekly injectable medicine for Type 2 diabetes, in India, expanding treatment options for millions of patients struggling to manage blood sugar levels. The drug contains semaglutide, a next-generation therapy already widely used in several countries.

Ozempic works by mimicking a natural hormone that helps the body release insulin when blood sugar levels are high. It also reduces the amount of sugar produced by the liver and slows digestion, leading to better glucose control. In addition, the medicine acts on the brain’s appetite centres, helping patients feel full for longer. While this effect has drawn attention globally for weight reduction, in India the drug has been approved specifically for managing Type 2 diabetes.

One of Ozempic’s key advantages is its once-a-week dosing, delivered through a pre-filled injection pen. Doctors say this can make treatment easier for patients who find daily injections difficult to maintain. The treatment begins with a 0.25 mg starter dose, mainly to help the body adjust. Depending on the patient’s condition, the dose may later be increased to 0.5 mg or 1 mg, strictly under a doctor’s guidance.

The starting dose costs about ₹2,200 per week, or roughly ₹8,800 per month, with higher doses priced above this level. Medical experts point out that affordability could be a concern for long-term use, especially since diabetes is a chronic condition requiring sustained treatment.

India has one of the world’s largest populations living with diabetes, and the number continues to rise due to sedentary lifestyles, dietary habits, and obesity. Specialists believe Ozempic could benefit patients whose blood sugar levels remain uncontrolled despite standard oral medicines or insulin therapy.

Doctors, however, stress that Ozempic is not a standalone solution. It must be used alongside lifestyle changes such as healthy eating, regular physical activity, and routine monitoring of blood sugar. Some patients may experience side effects like nausea or stomach discomfort, particularly in the early weeks of treatment, making medical supervision essential.

With the launch of Ozempic, India’s diabetes care space is seeing a shift towards advanced injectable therapies. While the drug brings new hope for improved disease control, experts emphasise responsible prescribing and informed patient use to ensure both safety and long-term benefits.

Also Read: Rupee falls 9 paise, hits record low of ₹90.41

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Beyond

Rupee falls 9 paise, hits record low of ₹90.41

The Indian rupee slipped further on Friday, closing at a record low of ₹90.41 against the US dollar, down 9 paise from the previous session. This marks another milestone in the rupee’s ongoing depreciation trend.

Traders said the fall was mainly due to high demand for dollars from importers who needed to pay for overseas goods and services. At the same time, foreign investors have been pulling money out of Indian stocks and bonds, adding to pressure on the currency.

Global factors also played a role. A stronger dollar abroad and uncertainty in financial markets made investors cautious, keeping the rupee under stress. Analysts said that while the Reserve Bank of India can step in to stabilize the currency, its ability to stop the decline is limited when import demand and capital outflows are high.

The rupee’s slide reflects wider economic challenges, including a trade gap, where India imports more than it exports, increasing the need for foreign currency. Experts expect the rupee to face continued pressure in the coming weeks as global market volatility and domestic economic factors play out.

Despite the fall, some believe the rupee may find temporary support if global dollar strength eases or if capital inflows improve. For now, businesses and consumers may feel the pinch as imports become more expensive and foreign travel or overseas education costs rise.

Also Read: IndiGo moves court for ₹900 crore refund

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1 Minute-Read

boAt financial gaps raise concerns before IPO

Auditors of consumer electronics brand boAt have highlighted differences between the company’s financial statements submitted to lenders and its internal records for 2023–2025.

The review also noted possible misuse of short-term funds for long-term purposes in subsidiaries and some unreported overseas transactions. boAt has begun addressing these issues by revising its filings and improving disclosures.

The findings come as the company prepares for a proposed IPO, planning to raise around ₹1,500 crore. While the discrepancies have drawn regulatory attention, boAt aims to resolve them before entering the market, ensuring investor confidence.

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Beyond

IndiGo moves court for ₹900 crore refund

IndiGo has launched a legal challenge seeking over ₹900 crore in customs duty refunds, claiming the government’s taxation on aircraft parts returned from overseas repairs is unfair. The airline says it faces double taxation, paying GST on repairs abroad while being charged customs duty again when the same parts are re‑imported into India.

The airline explained that sending parts overseas for repair qualifies as a service, which is taxed under GST. IndiGo paid the tax under the reverse charge mechanism. However, when the repaired parts returned to India, customs authorities treated them as fresh imports, demanding additional duty. The airline argues this approach is unjust, effectively taxing the same transaction twice – first as a service, then as an import of goods.

The case was initially listed before a Delhi High Court bench of Justices Prathiba M Singh and Shail Jain. However, Justice Jain recused herself, citing a conflict of interest, as her son is employed as a pilot with IndiGo. The matter will now be heard by a different bench.

IndiGo stated that it had paid the disputed customs duties “under protest” to avoid delays in returning critical aircraft parts to service. The airline also pointed to previous tribunal and court rulings suggesting that re‑imported parts should not face double levies once GST has been discharged. Customs authorities, however, rejected refund claims, asking the airline to reassess each bill of entry, a process IndiGo says is impractical.

Alongside this case, IndiGo is contesting a GST demand of ₹58.75 crore for the financial year 2020–21. The airline has clarified that these disputes are unlikely to affect operations materially.

This case could have wide implications for the aviation sector and other businesses dealing with imported goods and overseas repairs. The Delhi High Court’s ruling may set an important precedent on how GST and customs duty interact for re‑imported parts, potentially shaping tax practices for years to come.

Also Read: Disney and OpenAI deal brings iconic characters to Sora

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Corporate

NITI Aayog targets corporate bond growth

NITI Aayog has proposed a comprehensive plan to strengthen India’s corporate bond market, aiming to make it a key source of long-term capital for the economy. The move comes as the corporate bond market in India remains small compared to countries like South Korea and China, with limited participation from retail investors, who account for less than 2 per cent of total investments.

To attract more individual investors, the think-tank has recommended the creation of Corporate Bond Savings Accounts (CBSAs), which would offer tax benefits under Section 80C, similar to equity-linked savings schemes. The proposal also suggests simplifying access to corporate bonds by enabling trading through demat accounts, mobile apps, and internet banking, lowering minimum investment thresholds, and facilitating small-ticket purchases through UPI.

NITI Aayog has further proposed several tax incentives. These include extending existing tax benefits to corporate bonds, aligning long-term capital gains taxes with equities and other instruments, reducing withholding taxes for foreign investors, and offering tax credits for first-time retail investors. Such measures are aimed at leveling the playing field between bonds, equities, and bank deposits as investment options.

In addition to tax and account reforms, the report emphasizes the need for stronger market infrastructure. This includes transparent pricing tools, standardised disclosures, and digital marketplaces to make bond trading easier and more efficient. The think-tank also recommends introducing new products like covered bonds backed by high-quality assets and fractional bond funds, allowing small investors to access diversified portfolios.

The proposals are designed to expand the corporate bond market from its current size of around 15–16 per cent of GDP to ₹100–120 lakh crore by 2030. If implemented, the reforms could broaden the investor base, improve liquidity, and position corporate bonds as a vital tool for long-term financing in India’s growing economy.

By making corporate bonds more accessible and rewarding for investors, NITI Aayog hopes to strengthen India’s financial system and support sustainable economic growth.

Also Read: 42 US states warn tech giants on unsafe AI chatbots

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Corporate

Sensex jumps 300 Points, Nifty moves above 25,950

Indian stock markets opened strong on Friday. The Sensex gained over 300 points, and the Nifty moved above 25,950, showing improved sentiment after a weak start to the week.

The rally was led by big gainers such as Larsen & Toubro (L&T), ICICI Bank, Bharti Airtel, HDFC Bank, and Reliance Industries. These stocks saw good buying interest and helped lift the overall market.

On the other hand, a few sectors saw pressure. IT stocks, FMCG companies, and some pharma shares were among the early losers, with mild profit-booking dragging them down.

Global cues also supported the market. Positive trends in US and Asian markets, along with improved optimism after the US Federal Reserve’s interest rate cut, boosted investor confidence. This encouraged buying in banks, capital goods, and telecom stocks.

Investors are now watching for India’s inflation data, expected later in the day, which could influence market direction.

Overall, the markets recovered well, with strong gainers in banking and engineering stocks outweighing minor losses in IT, FMCG, and pharma sectors.

Also Read: Sensex up 427 points, Nifty near 25,900

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Beyond

Indian Rupee hits historic low of ₹90.46 against US Dollar

The Indian rupee weakened further on Thursday, December 11, 2025, touching a historic low of ₹90.46 against the US dollar. This marks the steepest level the rupee has reached in its history, continuing the depreciation trend seen over the past few months.

Several factors contributed to the sharp fall. Ongoing global uncertainties and slow progress in trade negotiations with the United States have rattled investor confidence. At the same time, domestic demand for US dollars from companies making international payments increased pressure on the rupee. Additionally, foreign investors have been pulling funds from Indian markets, adding to the volatility.

This year, the rupee has fallen by over 5 per cent, making it one of the worst-performing Asian currencies in 2025. Analysts say the currency’s decline has been influenced by rising global crude oil prices, high import bills, and widening trade deficits, which have further strained India’s foreign exchange reserves.

In response to the slide, the Reserve Bank of India (RBI) reportedly intervened in the forex market, buying and selling dollars to stabilize the rupee. Such measures are intended to reduce sharp fluctuations and maintain market confidence.

Economists warn that the rupee may continue to face pressure in the near term unless there is progress in trade negotiations, improved foreign investment inflows, and easing of global market uncertainties.

Investors and businesses are closely monitoring the currency movements, as the fall in rupee value impacts import costs, inflation, and international trade. With the year-end approaching, all eyes are on the RBI’s interventions and global market trends to determine if the currency can recover.

Also Read: IndiGo offers Rs 10,000 vouchers to passengers

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1 Minute-Read

IndiGo offers Rs 10,000 vouchers to passengers

IndiGo will issue Rs 10,000 travel vouchers to passengers severely affected by flight delays and cancellations between December 3 and 5.

The vouchers, valid for 12 months, can be used on any IndiGo flight. This offer is in addition to government-mandated compensation, which ranges from Rs 5,000 to Rs 10,000 for cancellations made less than 24 hours before departure.

Refunds for most cancelled flights have already been processed. IndiGo has gradually restored normal flight operations and said the vouchers are intended to rebuild trust and compensate customers impacted by the disruptions.