Author: Staff Writer

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Corporate

Sensex 85,720, Nifty 26,215 end higher after record peaks

The Indian stock market saw a steady but cautious finish on November 27. Both benchmark indices, the Sensex and the Nifty, touched fresh all-time highs during the day before slipping due to profit-booking. The Sensex eventually closed at 85,720, up 111 points, while the Nifty settled at 26,215, gaining 10 points.

Early optimism was driven by expectations of upcoming interest rate cuts and strong domestic investor participation. This pushed banking and financial stocks higher, with names such as HDFC Bank, ICICI Bank, Bajaj Finance and Bajaj Finserv contributing the most to the day’s gains.

However, the rally was capped as selling pressure emerged in the second half of the session. Sectors like oil & gas, realty, energy and consumer durables saw declines, offsetting some of the early momentum. Mid-cap stocks held steady, but small-caps underperformed, signalling a shift toward safer, large-cap bets.

Analysts say the Nifty will need to climb and stay above 26,310 to extend the uptrend, while support lies around the 26,000 mark. Market direction over the next few days will depend on global cues, central bank signals, and domestic economic data.

Also Read: Sensex tops 86,000, Nifty crosses 26,300

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Corporate

Whirlpool shares fall 13% on ₹965 crore stake sale

Shares of Whirlpool of India fell sharply after its promoter, Whirlpool Mauritius Limited, announced plans to sell part of its stake. The sale will be around 7.5 % of the company, roughly 95 lakh shares, and could raise about ₹965 crore.

The shares will be offered at a “floor price” of ₹1,030 each, about 14 % lower than the previous closing price of ₹1,201.40. Following this announcement, the stock fell as much as 13 % on the Bombay Stock Exchange, hitting ₹1,041.

The sale comes amid weak recent performance. In the September quarter, Whirlpool of India’s consolidated net profit dropped around 21 % to ₹41 crore, while revenue also fell slightly. Over the past year, the company’s shares have declined about 33 %, underperforming the market.

Analysts say the promoter’s sale is part of a long-term trend of the parent company reducing its stake in India. The money from the sale may help the parent company reduce global debt rather than indicate a full exit from Whirlpool of India.

Also Read: Tesla plans deeper India push with full EV ecosystem

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Corporate

Apple challenges $38 billion India antitrust penalty law

Apple Inc. has filed a petition in the Delhi High Court challenging India’s 2024 amendment to the Competition Act, which allows fines based on a company’s global turnover. The move could expose Apple to a potential penalty of up to $38 billion (around ₹3 lakh crore).

The legal dispute stems from a 2022 antitrust probe by the Competition Commission of India (CCI), which accused Apple of abusing its dominance on the iOS App Store by restricting third-party payment options. Apple denies any wrongdoing and says its Indian market share remains small compared to Android, despite significant user growth.

In a detailed 545-page petition, Apple described the law as “arbitrary, unconstitutional, grossly disproportionate and unjust,” arguing that any fine should be limited to revenue earned in India from the specific business under investigation. The company warned that retroactive application of the law could unfairly penalise past practices.

A hearing is scheduled for 3 December 2025, marking the first major test of India’s revised competition-law penalty system against a global technology company.

Also Read: Tesla plans deeper India push with full EV ecosystem

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Beyond

India’s $5 trillion goal delayed, growth strong

The International Monetary Fund (IMF) says India’s economy continues to grow steadily, but the country may reach the $5 trillion GDP mark a year later than previously expected. The new estimate now points to fiscal year 2028‑29, instead of 2027‑28. The main reasons for the delay are a weaker rupee and slower growth in GDP when measured in dollar terms.

Despite the delay, India remains one of the fastest-growing major economies in the world. Strong domestic demand, robust consumer spending, and healthy growth in services and manufacturing are helping the economy stay on track. Inflation is also under control, which supports stable prices and living costs.

The IMF forecasts that India’s economy will grow by 6.6% in FY2025‑26 and 6.2% in FY2026‑27. Even with the $5 trillion milestone pushed back, the underlying growth story remains strong. Policymakers will need to focus on sustaining domestic growth, managing inflation, and keeping the rupee stable to maintain momentum.

Also Read: Deloitte report in Canada faces AI citation controversy

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Corporate

Ravelcare SME IPO ₹24 crore, shares ₹123–₹130

Ravelcare, a personal-care and beauty brand, will open its SME IPO on December 1, closing on December 3, 2025. The company aims to raise around ₹24.10 crore by issuing 18.54 lakh shares at a price band of ₹123–₹130 per share.

About ₹11.5 crore will go into advertising and marketing, while ₹7.8 crore will fund a new manufacturing facility in Amravati. The rest will support general business needs.

Founded in 2018, Ravelcare sells haircare, skincare, and body-care products online. For FY25, revenue was ₹24.98 crore with ₹5.25 crore profit. The IPO proceeds will fund growth, not payouts to existing shareholders.

Also Read: India approves ₹7,280 cr plan to make rare-earth magnets

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Corporate

Sensex tops 86,000, Nifty crosses 26,300

Indian equity markets extended their upward momentum on Thursday, with benchmark indices closing higher for a second straight day on the back of broad-based buying and firm global cues. The Sensex climbed nearly 600 points, while the Nifty added close to 180 points, supported by strength in defensives, technology majors and key manufacturing plays. Overall, 32 of the 50 Nifty constituents ended in the green, signalling renewed risk appetite among investors.

The trading session was defined by steady accumulation across most sectors, even as certain pockets saw mild profit-taking. Defensives such as pharmaceuticals and FMCG maintained a constructive undertone, aided by stable earnings visibility. Technology stocks, buoyed by expectations of improved global demand and easing macro pressures, also contributed meaningfully to the indices’ gains. Manufacturing-linked counters, including select capital goods and industrial suppliers, continued to benefit from strong order flows and domestic capex momentum.

However, sentiment was slightly softer in energy, consumer durables and public-sector banking. These groups witnessed brief phases of consolidation as investors assessed near-term valuations and awaited fresh economic signals. Analysts noted that this pattern reflected a healthy rotation rather than a weakening of broader market strength.

Stock-specific action remained prominent. While most heavyweights moved higher, a few names bucked the trend. Whirlpool of India, Natco Pharma and Kaynes Technology India emerged as notable losers, slipping due to sectoral moderation and selective profit-booking after recent rallies. Market participants suggested that the declines were more technical than fundamental, with no major negative triggers emerging during the session.

Despite these isolated weaknesses, overall market breadth stayed supportive. Mid-cap and small-cap indices also closed in positive territory, indicating that buying interest was not limited to large caps. With global markets stable and domestic indicators holding firm, investors appeared comfortable taking incremental risk, though some caution remained around external triggers such as commodity price fluctuations and central bank commentary.

Also Read: Sensex up 1,022 pts, Nifty rises 320 pts

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Beyond

Apollo Micro, IIT-Chennai, Navy partner for defence tech

Apollo Micro Systems (AMS) has entered into a three-way Memorandum of Understanding with IIT-Chennai and the Indian Navy’s Directorate General of Naval Armament Inspection (DGNAI) to fast-track the development of indigenous defence technologies. The agreement was formalised at the Swavalamban 2025 event in New Delhi on 25 November.

The partnership brings together three crucial strengths,  academic research, industrial manufacturing, and military operational expertise. Under the arrangement, IIT-Chennai will focus on research, conceptual design and technology development. Apollo Micro Systems will take these concepts forward by building prototypes, refining them for real-world use and enabling large-scale manufacturing. The DGNAI will guide the development with domain knowledge, oversee testing, and ensure compliance with military standards before any system is deployed.

The pact aims to address both current and future defence needs, especially in critical areas such as electronic-warfare systems, precision-guidance technologies, advanced control systems and high-energy armament solutions. Many of these innovations can later be adapted for the Army, Air Force and even space-related applications.

AMS’ leadership described the alliance as a powerful model for strengthening India’s defence ecosystem,  one that blends innovation from academia with industrial capability and operational insight. The company believes this partnership will support the country’s long-term goal of reducing dependence on imported defence technology.

The announcement generated strong market interest, with AMS shares rising around 5% after the MoU was made public, reflecting investor optimism about future defence orders and the company’s expanded role in the indigenisation push.

The collaboration is expected to accelerate the journey from lab-scale research to field-ready systems, reinforcing India’s efforts to build advanced, home-grown defence capabilities under the Aatmanirbhar Bharat mission.

Also Read: Adani Enterprises opens ₹24,930 crore rights issue

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Beyond

India approves ₹7,280 cr plan to make rare-earth magnets

The Indian government has given the green light to a ₹7,280 crore plan to manufacture rare-earth permanent magnets domestically. These magnets are essential for electric vehicles, wind turbines, consumer electronics, aerospace, and defence equipment. The move is part of India’s strategy to reduce reliance on imports, particularly from China.

The scheme will support setting up integrated manufacturing units that cover the full production process, from refining rare-earth materials into metals, making alloys, to producing finished magnets. The total planned production capacity is 6,000 metric tons per year.

Currently, India imports most of these magnets. With demand expected to rise sharply by 2030 due to electric mobility and renewable energy growth, domestic production will help secure supply and strengthen technological independence.

Under the plan, ₹6,450 crore will be provided as sales-linked incentives to companies over five years, while ₹750 crore will fund capital support to set up factories. Up to five companies, domestic or international, will be selected through a competitive process, with each allowed to produce up to 1,200 metric tons annually.

The project is expected to take seven years: two years for factory setup and five years for production under the incentive scheme.

Experts say the initiative will not only reduce imports but also create jobs, strengthen India’s clean-energy and tech sectors, and support the country’s long-term goal of reaching net-zero emissions by 2070. By building this domestic capacity, India aims to meet growing demand, boost self-reliance, and strengthen its position in critical high-tech industries.

Also Read: Oil prices fall 1.5% as Ukraine backs peace deal

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Corporate

Adani Enterprises opens ₹24,930 crore rights issue

Adani Enterprises has launched a massive ₹24,930-crore rights issue, giving existing shareholders the option to buy new shares at a discount. The rights shares are priced at ₹1,800 each, which is cheaper than the current market price, and the offer opened this week. Investors can apply by paying half the amount now and the remaining in two instalments later.

The company’s stock showed slight gains today but has fallen over the past two sessions as the market adjusts to the discounted issue price. Despite this, analysts say the fundraising move will help Adani Enterprises reduce its debt and strengthen its finances.

Brokerage Ventura Securities has given the stock a ‘Buy’ rating, expecting up to 43% upside. The firm has set a target price of ₹3,433, saying that the rights issue will ease pressure on the company’s balance sheet and support its long-term expansion plans.

The funds raised will be used for multiple projects, including airports, data centres, green energy, roads, and other infrastructure businesses. Analysts believe the fresh capital will give the company more stability and improve investor confidence.

Also Read: HDFC AMC shares fall on bonus issue

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Corporate

Sensex up 1,022 pts, Nifty rises 320 pts

Sensex and Nifty closed sharply higher on Wednesday as the markets staged a strong rebound after recent weakness. The Sensex jumped 1,022 points to end at 85,609, while the Nifty rose 320 points to settle at 26,205.

The rally was broad-based, with both mid-cap and small-cap indices gaining around 1.2 percent. All major sectors ended in the green as investors turned upbeat on the back of softer crude-oil prices and renewed hopes of a US Federal Reserve rate cut. Buying was strong in banking, metals, oil & gas, and financial services stocks, helping lift overall sentiment.

Among the top gainers of the day were JSW Steel, HDFC Life, Bajaj Finance, Bajaj Finserv and Jio Financial Services, which saw healthy buying interest throughout the session. On the other hand, Bharti Airtel, Asian Paints and SBI Life ended as the notable losers, slipping slightly despite the broader market rally.

Analysts said the combination of favourable global cues, easing commodity prices and sustained domestic participation helped markets post one of their best sessions in recent weeks. They added that investors will now watch global rate signals, foreign fund flows and crude-oil trends to gauge whether this strong momentum can continue in the coming days.

Also Read: Sensex jumps 600+ points, Nifty crosses 26,050