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Beyond

Russia begins fuel supply to Kudankulam plant, TN

Russia has delivered the first batch of nuclear fuel for the third reactor of the Kudankulam Nuclear Power Plant in Tamil Nadu, marking an important milestone in India’s largest civil nuclear project. The fuel assemblies, manufactured by Rosatom’s Novosibirsk Chemical Concentrates Plant, were flown in as part of a long-term agreement signed in 2024.

This delivery begins the initial fuel-loading process for Unit-3. Rosatom said seven flights will be used to ship the full core load and reserve fuel required for both Unit-3 and Unit-4. The supply deal covers the entire operational life of the reactors, ensuring steady fuel availability once they become active.

The development came as Russian President Vladimir Putin visited India and reaffirmed Russia’s commitment to expanding the Kudankulam project. Putin described the plant as a flagship of India–Russia cooperation and said Moscow would work closely with New Delhi to bring all six reactors to full capacity.

Currently, Units 1 and 2 are operational, while Units 3 through 6 are under construction. Once all units are completed, Kudankulam will generate 6,000 MW of electricity, making it India’s most powerful nuclear station.

Putin also highlighted potential future collaborations, including small modular reactors, floating nuclear plants, and peaceful applications of nuclear technology in areas such as healthcare and agriculture. He assured that Russia would continue to supply nuclear fuel reliably to support India’s growing energy requirements.

The fuel delivery is expected to accelerate progress at the site, strengthening the southern power grid and contributing to India’s clean-energy and energy security goals.

Also Read: IndiGo’s operational crisis enters Day 5, over 1000 flights affected

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Leaders

Modi-Putin strengthen ties on fuel, trade, security

Russian President Vladimir Putin touched down in New Delhi on a high-profile two-day visit, signaling a renewed chapter in India-Russia relations. The summit, eagerly watched across the globe, focused on energy security, trade expansion, defence collaboration, and joint efforts against terrorism.

At Hyderabad House, Prime Minister Narendra Modi and President Putin highlighted their shared commitment to global peace and security. Modi said India and Russia “walk together in the fight against terrorism,” recalling Moscow’s support during past attacks in Jammu & Kashmir. Putin called India a “full ally,” pledging continued backing for India’s counter-terrorism efforts.

Energy was a key priority. Putin assured uninterrupted shipments of oil, gas, and coal, reinforcing India’s energy security. Both leaders also agreed to collaborate on civil nuclear and clean energy projects, marking a step toward sustainable energy partnerships.

The summit unveiled a Vision 2030 roadmap to boost bilateral trade, aiming to increase it from $64–69 billion to $100 billion by 2030. The plan covers multiple sectors, including manufacturing, technology, agriculture, shipping, and critical minerals, with talks on a free-trade agreement with the Eurasian Economic Union also underway.

Defence and technology partnerships were strengthened, with plans for joint research, co-production of platforms, and collaboration in space, AI, and high-tech manufacturing. These steps support India’s self-reliance while keeping strategic ties strong.

The visit also sends a clear global message: India continues to maintain strategic autonomy, balancing its relationship with Russia alongside ties with the West. For India, it ensures stable energy supplies, stronger trade, and enhanced defence capabilities. For Russia, it reaffirms India as a reliable partner, securing influence and energy interests in Asia.

The summit highlighted a relationship that is more than transactional, rooted in trust, shared goals, and decades of cooperation.

Also Read: Meesho IPO oversubscribed 79×, grey market shows 45% gains

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Corporate

Meesho IPO oversubscribed 79×, grey market shows 45% gains

India’s popular social commerce platform Meesho has captured the attention of investors with an extraordinary response to its initial public offering (IPO). The three-day issue, which ran from 3 to 5 December, has been oversubscribed nearly 79 times, reflecting strong market confidence in the company. The IPO included a fresh issue of ₹4,250 crore and an offer-for-sale (OFS) of around ₹1,171 crore, totaling ₹5,421 crore, priced in a band of ₹105–₹111 per share.

Subscription data shows that demand built rapidly: the IPO was subscribed 2.35 times on Day 1, surged to 6–8 times on Day 2, and closed at nearly 79 times overall on the final day. By category, Qualified Institutional Buyers (QIBs) subscribed roughly 120 times, retail investors around 18 times, and non-institutional investors about 38 times.

Ahead of the listing, Meesho shares are trading at a grey market premium of nearly 45%, with unlisted shares changing hands at approximately ₹160.5. This points to potential listing gains of 40–45% over the IPO’s upper price band. The shares are expected to list on 10 December 2025.

At the upper price band of ₹111, Meesho’s post-IPO market valuation stands at roughly ₹50,096 crore. The company plans to use the funds raised to strengthen its cloud infrastructure, expand technology and AI capabilities, ramp up marketing, and support overall business growth.

Analysts highlight Meesho’s strong presence in Tier-2 and Tier-3 cities and its asset-light business model as key strengths driving investor confidence. However, the company remains unprofitable, despite generating positive free cash flow in FY25, and operates in a highly competitive e-commerce market where maintaining customer trust and logistics efficiency is crucial.

Also Read: Exato Technologies shares soar 90% on BSE SME debut

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1 Minute-Read

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.

Categories
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

Categories
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

Categories
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