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Purple Wave Infocom ₹31.45 cr IPO opens modestly

Purple Wave Infocom made its BSE‑SME debut today after raising ₹31.45 crore through a fresh issue of nearly 25 lakh shares.

The company, specializing in professional audio-video (PRO AV) and smart display solutions, saw its IPO subscribed about 6.9 times, reflecting strong investor interest, particularly from institutions.

However, the grey-market premium (GMP) was at zero ahead of listing, suggesting the stock may open close to its IPO price.

Analysts expect only modest gains for Purple Wave Infocom, on the first trading day, despite healthy revenue and profit growth in the previous year. Investors are watching the debut closely.

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1 Minute-Read

Logiciel Solutions ₹40 cr IPO debuts with flat sentiment

Logiciel Solutions is set to debut on the BSE SME platform today, following the closure of its ₹40 crore IPO on December 2.

The issue included a ₹32.7 crore fresh offer and ₹7.2 crore offer-for-sale, priced between ₹183–₹193 per share.

Overall subscription stood at a modest 2.04×, with retail investors driving most of the demand.

Pre-listing grey market activity indicates a zero premium, reflecting cautious investor sentiment and expectations of a flat listing.

Market watchers will closely track the debut, as the company ventures into the public domain amid subdued investor interest.

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Corporate

Exato Technologies shares soar 90% on BSE SME debut

Exato Technologies, an emerging player in AI-driven customer experience solutions, made a stunning debut on the BSE SME platform today, sending waves of excitement among investors. Priced at ₹140 per share in the IPO, Exato’s stock opened at ₹266, delivering an immediate 90 % gain. During the day, the shares surged to a high of ₹279.30, nearly double the IPO price, reflecting strong market enthusiasm.

The IPO, which raised about ₹37.45 crore, witnessed massive interest, being oversubscribed nearly 900 times across different investor categories. Such overwhelming demand highlights investor confidence in Exato’s business model and growth potential. The proceeds from the IPO will be used to fund working capital, expand technology and product development, repay loans, and support general corporate purposes.

Exato Technologies specializes in customer-experience-as-a-service (CXaaS) and AI-as-a-service offerings, including virtual assistants, automation tools, omnichannel support, and analytics. The company aims to help businesses enhance customer engagement and streamline operations using advanced technology.

Market analysts say the strong first-day performance underscores the growing appetite for innovative smaller-cap tech firms on the BSE SME platform. While early investors enjoy substantial gains, experts also note that such high initial jumps can bring short-term volatility.

Overall, Exato Technologies’ IPO debut is a major success story in the SME segment, showcasing the market’s confidence in technology-led growth and innovation. The listing not only rewards investors but also sets a positive tone for upcoming SME platform offerings, reflecting a robust investor sentiment toward emerging tech companies.

Also Read: Samsung unveils CES 2026 Vision at ‘First Look’

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Corporate

Sensex up 447 points, Nifty above 26,150, after RBI rate cut

The Indian stock market ended Friday on a strong note after the Reserve Bank of India (RBI) cut its key interest rate, boosting investor confidence. The BSE Sensex rose 447 points, while the Nifty 50 crossed the 26,150 mark, reflecting broad optimism across sectors.

The rally was mainly driven by banks, non-banking financial companies, auto makers, and real estate stocks and industries that benefit directly from lower borrowing costs. Top gainers included Bajaj Finserv, Bajaj Finance, and HCL Technologies, while Hindustan Unilever, Sun Pharma, and Tata Motors were among the top losers.

The positive sentiment began building even before the policy announcement and strengthened once the RBI confirmed a 25 basis-point cut in the repo rate, bringing it down to 5.25%. The central bank said this move aims to support economic growth at a time when inflation is easing and GDP performance remains solid.

In addition to reducing the policy rate, the RBI unveiled several liquidity-support measures. These include large open-market bond purchases and a dollar–rupee swap facility designed to ensure banks have adequate funds to lend. This further reassured the market that credit availability will improve in the coming months.

 Market experts pointed out that while the rate cut is positive, deeper concerns continue to linger, such as weak nominal growth, a fragile rupee, and narrow market participation. Some sectors and stocks have been driving the bulk of gains, while broader market strength remains limited.

Global market trends, foreign fund flows, and currency movements will continue to play a significant role in determining whether the rally sustains. Any adverse global development or withdrawal of foreign investment may put pressure on domestic equities.

Still, the short-term outlook appears favourable. With borrowing expected to become cheaper, sectors linked to credit demand, like banks, real estate, automobiles, and consumer finance, are likely to benefit the most.

Also Read: Sensex 85,187, Nifty 26,021 open flat ahead of RBI policy

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Leaders

SEBI bans Avadhut Sathe, seizes ₹546 crore illegally

The Securities and Exchange Board of India (SEBI) has taken stringent action against Avadhut Sathe and his trading academy, impounding ₹546 crore and barring them from participating in the securities market for offering unregistered investment advisory services. The regulator said that the Avadhut Sathe Trading Academy (ASTAPL), which marketed itself as an educational platform, provided subscribers with stock recommendations, stop-loss levels, and portfolio guidance, services that require proper SEBI registration.

The SEBI order covers the period between July 2017 and October 2025. According to the regulator, the academy misused its platform to give actionable market advice under the guise of education. Evidence collected included video recordings, chat logs, and online interactions showing that participants executed trades based on the advice provided. SEBI determined that the gains earned by Sathe and the academy through these activities, which reportedly amount to over ₹600 crore in fees, were unlawful and constituted illegal profits.

As part of its directive, SEBI has barred Sathe and his academy from buying, selling, or dealing in securities. They are also prohibited from offering any advisory or research services, including those disguised as educational content. The use of live market data, showcasing returns, or advertising participant profits to attract subscribers is strictly forbidden.

This marks one of the largest enforcement actions by SEBI against a “finfluencer”,  an individual leveraging social media or digital platforms to give financial advice. The regulator’s move serves as a stern warning to others providing stock-market tips or research guidance without SEBI registration.

SEBI emphasized that the order aims to protect retail investors from misleading promises of quick profits. Investors are advised to be cautious when following trading courses or financial influencers and to verify regulatory credentials before acting on investment advice.

This action reinforces SEBI’s commitment to ensuring transparency and compliance in India’s securities market, particularly in the rapidly growing digital advisory and trading education space.

Also Read: Reliance earns ‘A-‘ rating boost from S&P Global

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Corporate

Reliance earns ‘A-‘ rating boost from S&P Global

S&P Global Ratings has upgraded Reliance Industries Ltd. from ‘BBB+’ to ‘A‑’, citing the company’s improving cash flows and strong earnings from its consumer-facing businesses. The rating on Reliance’s senior unsecured debt has also been raised to ‘A‑’, with the outlook kept stable, signaling confidence in the company’s financial stability over the next one to two years.

The upgrade comes as Reliance continues to diversify beyond oil and gas. Its digital services arm, Reliance Jio, and retail business are now contributing significantly to overall cash flow, making earnings more predictable. For the fiscal year 2026, S&P expects consumer and digital businesses to generate nearly 60% of Reliance’s operating cash flow.

Reliance Jio’s telecom segment remains a key profit driver, with projected growth in subscriber base and average revenue per user as more customers adopt higher-priced data plans. The company’s strong cash flow, even with ongoing capital expenditure and investments in renewable energy, supports its financial resilience and long-term expansion plans.

Analysts say the upgrade reflects S&P’s confidence in Reliance’s strategic shift from a traditional oil-and-gas company to a diversified conglomerate with robust digital and retail operations. The improved rating may help Reliance secure lower-cost financing for future projects while enhancing investor confidence.

Also Read: Park Hospital’s chain launches ₹920 cr IPO on Dec 10

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Beyond

RBI lowers repo rate to 5.25% for economic growth

The Reserve Bank of India (RBI) today, cut its key policy rate, the repo rate, by 25 basis points, bringing it down from 5.50% to 5.25%. The decision was unanimously approved by the six-member Monetary Policy Committee (MPC), which retained the overall monetary stance at “neutral.”

The move comes amid a robust economic backdrop. India’s GDP expanded by 8.2% in the second quarter, marking the fastest growth in six quarters. At the same time, consumer-price index (CPI) inflation remained near historic lows, dropping to 0.25% in October. The combination of strong growth and low inflation gave the central bank room to ease monetary policy and support further economic expansion.

In addition to the rate cut, the RBI announced fresh liquidity measures to ensure smooth credit flow. These include open-market operations worth ₹1 lakh crore in December and foreign exchange swap operations of up to $5 billion. Officials said these measures are aimed at easing funding conditions for banks and businesses, and promoting better transmission of lower interest rates across the economy.

The rate cut is expected to benefit borrowers across sectors, including homebuyers, auto buyers, and small businesses, by lowering borrowing costs. Financial stocks led market gains on the announcement, while real estate and auto sectors also reacted positively.

Analysts suggest that the RBI may be preparing for a broader easing cycle if inflation remains muted and economic growth continues at its current pace. Investors and markets will closely watch upcoming data on inflation, currency stability, and liquidity conditions to gauge the central bank’s next steps.

Overall, the RBI’s action signals a proactive approach to sustaining India’s economic momentum while maintaining price stability, reinforcing confidence in the financial system.

Also Read: Adani’s Dighi port to export 2 lakh cars annually with Motherson

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Beyond

Gold prices stay flat across major Indian cities

Gold and silver prices in India saw minor corrections on December 5, 2025, with slight fluctuations across major cities. According to market sources, 24‑karat gold is trading at ₹12,965 per gram, while 22‑karat gold stands at ₹11,884 per gram. The 18‑karat variant is priced at ₹9,723 per gram.

City‑wise rates show some variations. In Chennai, 24K gold is ₹13,112 per gram, 22K is ₹12,019, and 18K comes to ₹10,024 per gram. Delhi sees 24K at ₹12,980 per gram, 22K at ₹11,899, and 18K at ₹9,738 per gram. Mumbai, Bengaluru, Kolkata, and Hyderabad report similar rates, reflecting a largely stable gold market.

Silver prices, however, experienced a modest dip. The national rate for silver is ₹190.90 per gram (₹1,90,900 per kilogram). In major cities, 10 grams of silver cost between ₹1,909 and ₹1,999, while 100 grams range from ₹19,090 to ₹19,990. One kilogram is priced at ₹1,90,900–₹1,99,900 depending on the city.

Analysts attribute the minor drop in silver prices to global market trends and the weakening rupee. The Indian rupee recently crossed the ₹90 mark against the US dollar, influenced by rising crude prices, foreign fund outflows, and uncertainties surrounding trade agreements. These factors have contributed to a cautious sentiment among investors and a dip in silver demand.

Despite these slight corrections, gold continues to attract Indian investors, prized for its long‑term value and as a hedge against inflation. While prices remain relatively flat, market watchers suggest investors keep an eye on global cues, currency movements, and geopolitical developments that may influence the bullion market in the near term.

Overall, Friday’s session saw stable gold and a marginal decline in silver, reflecting a cautious market amid mixed domestic and international signals.

Also Read: Sensex 85,187, Nifty 26,021 open flat ahead of RBI policy

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Corporate

Sensex 85,187, Nifty 26,021 open flat ahead of RBI policy

Sensex opened near 85,187 on December 5, 2025, with the Nifty hovering around 26,021, as the Indian stock market began the day almost unchanged. Benchmark indices showed little movement as investors stayed cautious ahead of the Reserve Bank of India’s monetary-policy announcement, resulting in a muted start while traders awaited policy clarity.

The flat opening followed a mild recovery in the previous session, which ended a four-day losing streak. Mixed global cues and uncertainty about the RBI’s stance kept buying interest limited. Adding to the cautious tone, the Indian rupee, after touching a record low recently, recovered slightly in early trade, offering some relief to the markets.

In early action, mid- and small-cap stocks outperformed the broader market. Zen Technologies, Himadri Speciality and Wockhardt were among the top gainers, rising sharply on active investor interest. On the other hand, index heavyweights like Reliance Industries (RIL) and Tata Steel were early losers, weighing on market sentiment.

A major development influencing trading patterns was the National Stock Exchange’s decision to revise price bands for 230 stocks. Of these, 128 counters now have a wider daily movement band of 20%. The change is expected to improve liquidity and enable broader price discovery in these stocks.

Regulatory action also played a role in shaping market mood. SEBI banned market influencer Avadhut Sathe and his firm from participating in the securities market and ordered them to refund about ₹601 crore collected from over 3.37 lakh investors,  a strong signal of tightening oversight.

All eyes now remain on the RBI’s policy announcement. Investors are keen to understand the central bank’s view on inflation and growth, and whether interest rates will hold steady. Analysts expect markets to remain range-bound until clearer signals emerge from the policy outcome.

Also Read: Sensex rises 158 points, Nifty tops 26,000 as IT stocks lead

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Beyond

India signs $2B deal to lease Russian submarine

India has agreed to lease a nuclear submarine from Russia for about $2 billion, finalising a deal that had been under discussion for nearly ten years. The agreement coincides with Russian President Vladimir Putin’s visit to New Delhi, highlighting the strategic partnership between the two countries.

The leased submarine is expected to arrive within two years. It will be used mainly for training Indian Navy personnel in operating nuclear-powered submarines and cannot be used in combat. The lease will last ten years and includes maintenance and support services, continuing India’s practice of leasing advanced Russian submarines.

The deal gives India immediate access to advanced under-sea capabilities while its own nuclear and missile-capable submarines are still under development. Nuclear submarines have advantages over diesel-powered ones. They can stay submerged longer, are quieter, and can patrol larger areas,  strengthening India’s ability to monitor the Indian Ocean and beyond.

This lease was finalised as part of a wider set of agreements during Putin’s state visit, which also covers trade, energy, and defence cooperation. It reflects India’s effort to modernise its navy quickly while maintaining strong defence ties with Russia, even as it strengthens partnerships with other countries globally.

For the Indian Navy, this submarine lease is a fast way to gain experience with nuclear-powered vessels, helping personnel prepare for future indigenous submarines that will carry missiles and advanced weapons systems.

Also Read: Reliance starts Jio IPO process targeting record valuation