Author: Staff Writer

Categories
Beyond

Gold at ₹1.36 lakh, Silver tops ₹2.23 lakh

Gold and silver prices surged to record highs on Wednesday, extending a strong rally driven by global uncertainty, expectations of interest rate cuts and tight supply conditions. Both metals have delivered exceptional gains this year, attracting strong investor interest.

In Indian markets, gold prices climbed above ₹1.36 lakh per 10 grams, with rates touching ₹1.40 lakh per 10 grams in some cities, marking the highest level ever recorded. The sharp rise reflects a strong global uptrend and a weaker dollar, which has made bullion more attractive as a safe investment.

Silver prices also hit historic levels. In spot markets, silver crossed ₹2.23 lakh per kilogram, setting a new all-time high. On commodity exchanges, silver futures saw sharp gains as buying intensified across industrial and investment segments. Silver has significantly outperformed gold this year, supported by strong demand from sectors such as renewable energy, electronics and electric vehicles.

Globally, precious metals are rallying on expectations that major central banks, including the US Federal Reserve, may cut interest rates in the coming months. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold and silver. Ongoing geopolitical tensions and concerns over global economic growth have also pushed investors towards safe-haven assets.

Market participants say supply constraints, particularly in silver, have added to the price surge. Limited mine output and steady industrial consumption have tightened availability, keeping prices elevated. Gold, meanwhile, continues to benefit from central bank buying and steady investor demand.

The sharp rise in bullion prices has also boosted shares of metal-linked companies, with stocks related to silver production gaining attention in the equity markets.

However, high prices have dampened jewellery demand, especially in the retail segment. Many buyers are postponing purchases or opting for lighter jewellery due to elevated costs. Traders also expect some volatility in the near term, as profit-taking may emerge after the steep rally.

Also Read: Sensex advances 150 points, Nifty holds above 26,200

Categories
Corporate

Sensex advances 150 points, Nifty holds above 26,200

Equity markets opened higher on Wednesday, tracking firm global cues and early buying in select financial and energy stocks. The BSE Sensex gained around 150 points in opening trade, while the NSE Nifty moved above the 26,200 level, signalling a positive start to the session.

Buying interest was seen in energy and finance counters. Coal India rose in early trade, leading gains on the Nifty. Bajaj Finance and Shriram Finance also opened higher, supported by demand for lending stocks. NTPC advanced as power sector stocks traded firm, while Jio Financial Services saw modest gains.

In contrast, information technology stocks opened weak. Tech Mahindra and HCL Technologies slipped in early trade, reflecting cautious sentiment around the IT sector. Tata Consumer Products also traded lower, while Tata Motors passenger vehicle arm faced mild selling pressure. Dr Reddy’s Laboratories opened in the red amid mixed action in pharma stocks.

Broader markets were marginally positive, with mid-cap and small-cap indices showing slight gains at the open. Market participants remain cautious due to thin year-end volumes, though positive global trends provided early support.

Investors will continue to track global cues, currency movement and sector-specific developments through the day, with stock-specific action expected to dominate.

Also Read: Sensex and Nifty ends flat during cautious trade

Categories
Technology

OpenAI’s ‘Your Year with ChatGPT’ makes 2025 personal

OpenAI has rolled out a new feature called “Your Year with ChatGPT”, offering users a personalised, year-end recap of their interactions with the AI throughout 2025. Similar to Spotify Wrapped, this recap blends stats, insights, and creative elements to show how users engaged with ChatGPT over the year.

The feature highlights key usage metrics such as total messages exchanged, number of chats, peak interaction days, and the most popular topics discussed. It also awards playful, personalised badges based on user behaviour, with titles like “Creative Debugger” or “Curious Explorer,” giving users a fun reflection of how they used ChatGPT.

Beyond numbers, OpenAI makes the recap visually engaging. Each summary begins with a short, AI-generated poem reflecting the user’s year and concludes with pixel art inspired by their most frequent conversation themes. This mix of stats, storytelling, and visuals creates an engaging and humanised experience rather than just a dry analytics report.

To access the recap, users need to have “reference saved memories” and “chat history” enabled. Once set up, they can trigger the feature directly in the ChatGPT app or by asking prompts like “Show me my year with ChatGPT.” The feature is available on Android, iOS, and web platforms for Go (India), Plus, and Pro users, while Team, Enterprise, and Education accounts are not supported.

OpenAI is gradually rolling out this feature across multiple regions, including India, the U.S., Canada, the U.K., Australia, and New Zealand. By providing a personalised summary of the year, the company encourages users to reflect on how they interacted with AI, highlighting both creativity and curiosity in their engagement.

Your Year with ChatGPT shows how AI can not only provide information but also create meaningful, fun experiences that celebrate the ways people use technology. With stats, creative visuals, and quirky awards, it’s a year-end gift from ChatGPT to its users, making 2025’s conversations memorable and personal.

Also Read: Apollo Micro gains access to DRDO’s advanced weapon tech

Categories
Corporate

Stock jumps 6% as GPT Infraprojects bags Jodhpur Highway deal

Shares of GPT Infraprojects Limited surged on Tuesday after the company was declared the lowest bidder (L1) for a ₹670 crore highway project by the National Highway Authority of India (NHAI). The project was secured in a consortium with ISCPPL, bidding under the name GPT‑ISCPPL (Consortium).

The contract involves the construction of a four‑lane elevated road in Jodhpur, Rajasthan, spanning from Mahamandir to Akhaliya Chouraha (7.633 km). The project will be executed under the Hybrid Annuity Model (HAM), a public-private partnership framework in which costs and risks are shared between the government and the contractor.

Following the announcement, GPT Infraprojects’ shares jumped about 6%, hitting an intraday high of ₹117 on the BSE, while on the NSE, the stock rose over 3%, reflecting strong market confidence. Analysts said that the contract win strengthens investor sentiment, given the company’s proven ability to execute large government infrastructure projects efficiently.

The highway project is expected to improve traffic flow and connectivity in Jodhpur, enhancing a key urban corridor. For GPT Infraprojects, the deal boosts its order book and reinforces its standing in the national highways sector, offering significant revenue potential over the coming years.

This new order comes shortly after GPT Infraprojects secured another major contract from the Municipal Corporation of Greater Mumbai, worth ₹1,804 crore, for constructing a flyover along LBS Marg, further expanding its infrastructure portfolio.

Industry observers note that winning high-value NHAI projects not only strengthens financial performance but also market perception, as reflected in the recent stock surge. The deal signals confidence in the company’s capability to handle large-scale projects under public-private models and contributes positively to its market valuation.

Also Read: Apollo Micro gains access to DRDO’s advanced weapon tech

Categories
1 Minute-Read

Apollo Micro gains access to DRDO’s advanced weapon tech

Apollo Micro Systems has secured access to two directed-energy weapon (DEW) technologies developed by India’s Defence Research and Development Organisation (DRDO).

This collaboration allows the private defence firm to further develop and potentially manufacture these advanced systems, aimed at enhancing India’s strategic defence capabilities. The technologies focus on precision targeting and high-energy applications, providing modern solutions for defence operations.

Apollo Micro Systems, known for its defence electronics expertise, will integrate DRDO’s innovations into practical, deployable platforms. The move is part of India’s broader push to involve private industry in high-tech defence development and self-reliance initiatives.

Categories
Leaders

Nikhil Kamath, Kishore Biyani launch The Foundery for startups

Entrepreneurs Nikhil Kamath and Kishore Biyani have launched The Foundery, a new programme to help aspiring startup founders turn ideas into real businesses. Unlike traditional courses, this is a 90‑day hands-on, residential programme where participants live and work together on building startups. The goal is to learn by doing, with guidance from experienced entrepreneurs, investors, and industry experts.

The Foundery is based in Alibaug, Maharashtra, where selected participants will focus on validating ideas, developing products, testing the market, and shaping business strategies. Instead of classroom lessons, the programme emphasizes practical work to prepare startups for real-world challenges.

A key feature is the equity structure: participants who help build startups can retain up to 25% ownership. Promising startups may also receive seed funding up to ₹4 crore and continued support after the programme.

Applications are open until mid‑January 2026, with a non-refundable ₹5,000 registration fee. The first batch will include around 30 co-founders, and roughly 20 business ideas will be selected for development.

The selection process focuses on creativity, problem-solving, resilience, and a founder mindset, rather than formal degrees or polished presentations. Participants can be aspiring founders, mid-career professionals, or early-stage entrepreneurs ready to relocate for the residential programme.

Mentors include notable names such as Vijay Shekhar Sharma (Paytm), Kunal Bahl (Snapdeal), Mithun Sacheti (CaratLane), and Varun Berry (Britannia), who will guide participants on idea design, execution, and growth.

Each cohort will end with a Demo Day, where startups pitch to investors and explore funding and partnership opportunities.

The Foundery aims to provide a supportive environment for founders to learn, experiment, and scale their ideas into successful startups, bridging the gap between vision and execution in India’s entrepreneurial ecosystem.

Also Read: Japan restarts world’s largest nuclear plant

Categories
Beyond

Japan restarts world’s largest nuclear plant

Japan has officially taken a major step toward restarting the Kashiwazaki-Kariwa nuclear power plant, the world’s largest in terms of electricity-generating capacity. The plant, located in Niigata Prefecture about 220 km northwest of Tokyo, has been idle since the 2011 Fukushima disaster, which led to the suspension of nearly all nuclear reactors in Japan.

On 22 December 2025, the Niigata Prefectural Assembly approved Governor Hideyo Hanazumi’s decision to allow the plant’s restart, effectively clearing the final local requirement needed for operations to resume. The decision enables Tokyo Electric Power Company (TEPCO), the plant’s operator, to move forward with safety inspections, operational checks, and preparation for restarting the reactors.

The facility has a total generating capacity of nearly 8,000 megawatts, making it a crucial source of electricity for Japan. TEPCO expects to bring at least one reactor online by early 2026, pending final regulatory and safety approvals. Restarting the plant could help the country reduce its reliance on imported fossil fuels and stabilize electricity costs, a pressing concern given Japan’s energy demands and global energy price volatility.

The restart comes amid Japan’s broader energy strategy, which aims to increase nuclear power’s share of electricity production to enhance energy security and meet climate goals. Since 2011, Japan has gradually restarted 14 of its 33 operable reactors under stringent safety protocols, but Kashiwazaki-Kariwa is the first major TEPCO plant to return to service.

Public opinion remains divided. Some residents and safety advocates continue to express concerns about nuclear risks, recalling the Fukushima accident’s devastating effects. Others, however, support the restart due to the potential economic and energy benefits, highlighting the importance of a reliable domestic power supply for households and industries.

In summary, the restart of Kashiwazaki-Kariwa represents both a milestone in Japan’s post-Fukushima nuclear journey and a critical step in its efforts to secure stable, sustainable energy. With local backing and careful planning, the plant is poised to play a central role in meeting the country’s future electricity needs while balancing public safety concerns.

Also Read: KSH International IPO lists 4% below issue price

Categories
Corporate

KSH International IPO lists 4% below issue price

KSH International Limited made a subdued debut on the stock exchanges on Tuesday, December 23, 2025, with its shares listing at a discount of nearly 4 percent to the IPO issue price. The weak opening reflected cautious investor sentiment, modest subscription levels, and muted grey market cues ahead of the listing.

The initial public offering was priced in the range of ₹365 to ₹384 per share. The IPO comprised a fresh issue of equity shares along with an offer for sale by existing shareholders, aiming to raise around ₹710 crore. However, demand during the bidding period remained lukewarm, with overall subscription falling short of market expectations, particularly in the retail and non-institutional investor categories.

Ahead of the listing, the grey market premium (GMP) for KSH International shares stayed close to zero, signalling limited appetite for the stock in the unofficial market. Market participants had warned that the absence of a meaningful premium could translate into a flat or negative listing. Analysts also flagged valuation concerns, stating that the IPO appeared fully priced when compared with listed peers in the sector.

On debut, KSH International shares opened at around ₹370 on both the BSE and NSE, representing a discount of about 4 percent from the upper end of the price band. The stock remained under pressure in early trade as selling continued, reflecting cautious sentiment across broader markets and selective buying by investors.

KSH International operates in the manufacturing segment, supplying industrial products with a strong export orientation. A sizeable portion of its revenue is derived from international markets, including the US, UAE and Saudi Arabia. The company runs multiple manufacturing facilities in Maharashtra and has reported steady revenue growth over recent years, supported by long-term client relationships and global quality certifications.

Market experts say the stock’s performance in the coming sessions will depend on overall market stability and the company’s ability to maintain earnings momentum. Investors are advised to closely track quarterly results and margin trends before taking long-term exposure.

Also Read: Larry Ellison backs Paramount bid with $40.4 bn guarantee

Categories
Corporate

Larry Ellison backs Paramount bid with $40.4 bn guarantee

Paramount Global has renewed its bid to acquire Warner Bros. Discovery (WBD), significantly strengthening its offer by securing a $40.4 billion personal financial guarantee from Oracle co-founder and billionaire Larry Ellison. The move is aimed at addressing concerns around deal certainty and financing, as competition intensifies for control of one of Hollywood’s largest media groups.

The revised proposal, disclosed in regulatory filings, includes an all-cash offer valuing Warner Bros. Discovery at about $108 billion, excluding debt. Paramount’s earlier approach had faced resistance from WBD’s board, which questioned whether the buyer had sufficient funding in place. Ellison’s backing is intended to remove those doubts.

Under the new structure, Ellison has agreed to personally guarantee the equity portion of the financing, making the offer one of the most heavily backed private pledges ever seen in the media sector. He has also committed not to move or reduce assets held in the Ellison family trust during the deal period, offering additional assurance to shareholders and regulators.

Paramount has further sweetened the proposal by raising its reverse breakup fee to $5.8 billion, matching the protection offered under a rival bid from Netflix. The company has also extended the deadline for shareholders to tender their shares until January 21, 2026, allowing more time for evaluation.

Despite the improved terms, Warner Bros. Discovery’s board continues to support Netflix’s competing offer, which combines cash and stock and values the company at around $72 billion. The board has argued that Netflix’s bid provides greater strategic clarity and execution certainty.

The market reacted swiftly to the developments. Shares of Paramount and Warner Bros. Discovery rose following the announcement, while Netflix stock saw a modest decline. Analysts said Ellison’s involvement significantly strengthens Paramount’s position but warned that regulatory scrutiny and shareholder approval remain major hurdles.

The battle for Warner Bros. Discovery underscores the growing consolidation pressures in the global media and streaming industry, where scale, content ownership, and financial strength are increasingly critical. With Ellison now firmly behind the bid, Paramount has signalled it is prepared for a prolonged and high-stakes takeover contest.

Also Read: Adani’s Ambuja Cements to merge ACC and Orient Cement

Categories
Corporate

Adani’s Ambuja Cements to merge ACC and Orient Cement

Ambuja Cements Ltd, part of the Adani Group, has announced plans to merge ACC Ltd and Orient Cement Ltd into Ambuja Cements, marking a major step in consolidating the group’s cement business. The proposal, approved by the respective boards, aims to create a stronger and more efficient cement company with a pan-India presence. The merger is subject to regulatory, shareholder and tribunal approvals.

Following the announcement, shares of Ambuja Cements rose around 4 per cent, while Orient Cement shares rallied sharply in early trade. ACC shares, however, showed a more muted reaction, reflecting mixed investor sentiment on the merger terms.

Under the proposed scheme, the merger will be carried out through a share-swap arrangement, with no cash payout. ACC shareholders will receive 328 equity shares of Ambuja Cements for every 100 shares held, while Orient Cement shareholders will get 33 Ambuja shares for every 100 shares. Once completed, ACC and Orient Cement will cease to exist as separate listed entities and will be fully absorbed into Ambuja Cements.

The Adani Group said the move is part of its strategy to operate a “one cement platform”, allowing better use of assets, streamlined management and lower operating costs. By bringing multiple cement companies under one listed entity, the group expects to improve logistics efficiency, optimise plant operations and strengthen its competitive position in India’s cement market.

For shareholders, the merger is seen as largely neutral to mildly positive, according to analysts. Orient Cement investors are expected to benefit the most due to the premium implied in the swap ratio, while the impact on ACC shareholders is considered balanced. Ambuja Cements shareholders stand to gain from improved scale and long-term synergies.

Post-merger, Ambuja Cements will become one of India’s largest cement producers, with a significantly expanded manufacturing footprint and distribution network. The company has outlined ambitious capacity expansion plans and expects the consolidation to support growth, margins and return on capital over the medium to long term.

The merger, once completed, will further strengthen the Adani Group’s position in the building materials sector and align with its broader focus on operational efficiency and sustainable growth.

Also Read: Rupee slips 5 paise to 89.73 in early trade