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Cholamandalam shares up 8% after rejecting claims

Shares of Cholamandalam Investment and Finance Company jumped 8% after the firm dismissed a Cobrapost report alleging large related‑party transactions, cash irregularities, and governance lapses.

The company clarified the claims were “malicious and baseless” and reaffirmed that its asset quality, liquidity, and business guidance remain unchanged, with no revision to its board-approved plans.

Cholamandalam emphasized robust financials, including strong cash balances and adherence to reporting standards. Analysts maintained their “Buy” ratings, signaling confidence in the firm’s fundamentals despite the controversy. The stock’s reaction reflects investor reassurance following the firm’s clarification.

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OYO Parent Prism clears ₹6,650 cr IPO plan

OYO’s parent company, Prism, has received shareholder approval to raise ₹6,650 crore through an initial public offering (IPO).

The approval came during an Extraordinary General Meeting (EGM) held on December 20, 2025, where shareholders also cleared a bonus share issue.

The IPO is now set to move forward, pending regulatory approvals and market conditions. Prism aims to use the funds to strengthen its balance sheet and support growth initiatives.

Analysts say the listing could be a milestone for the company as it expands its hospitality and technology offerings.

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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.

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UAE gives hope to SMA patients with gene therapy approval

The United Arab Emirates has approved Itvisma (onasemnogene abeparvovec), a pioneering gene therapy by Novartis, for children and adults aged two and above with spinal muscular atrophy (SMA).

The therapy replaces the faulty SMN1 gene, tackling the root cause of the disease rather than just symptoms. Administered as a single dose, Itvisma has shown improvements in muscle strength and motor function.

Dr. Fatima Al Kaabi, Director-General of the Emirates Drug Establishment, said the approval reflects the UAE’s commitment to rapid, safe access to advanced treatments. Novartis highlighted the therapy’s potential to transform the lives of SMA patients.

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Oil prices edge up after US intercepts Venezuelan tanker

Oil prices rose on Monday following the US interception of an oil tanker near Venezuela over the weekend, raising fears of potential supply disruptions.

Brent crude climbed about 0.7–0.9 percent to roughly $61 per barrel, while West Texas Intermediate also gained. The US Coast Guard is reportedly pursuing another tanker, reflecting increased enforcement of sanctions on Venezuelan oil. Analysts said geopolitical tensions, including these actions and broader global uncertainties, outweighed oversupply concerns, supporting the market.

Traders remain cautious as Washington maintains a firm stance on Venezuela’s energy exports.

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Indian in UK earns ₹18,000 an hour training AI models

Utkarsh Amitabh, a 34-year-old Indian entrepreneur in the UK, earns around ₹18,000 per hour training AI models for data-labeling startup micro1.

Starting in January 2025, he balances this work with family life and other professional commitments. Motivated by curiosity rather than money, he focuses on testing AI against complex business scenarios and refining prompts to enhance accuracy.

With prior experience at Microsoft and academic research on AI, Amitabh finds the role intellectually stimulating and complementary to his career, highlighting the growing demand for AI expertise worldwide.

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ICICI Prudential AMC shares gain 2% on Day 2

Shares of ICICI Prudential Asset Management Company (AMC) continued their upward momentum, rising over 2 percent in early trade on the second day after listing.

The stock built on its strong debut, where it had ended nearly 19 percent above its issue price, reflecting robust investor interest. Market experts remain positive on the company’s outlook, pointing to its strong position in equity assets, consistent fund performance and growing presence in PMS and AIF segments.

Brokerages have largely advised investors to buy or hold the stock, citing healthy long-term growth prospects supported by rising equity inflows and steady profitability.

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GE Vernova T&D India shares up by 10%

Shares of GE Vernova T&D India surged more than 10 percent after the company announced it had won a major High Voltage Direct Current (HVDC) transmission contract from AESL Projects Limited.

The order involves the design, supply and execution of a 2,500 MW, ±500 kV HVDC Voltage Source Converter terminal station to carry renewable energy from Khavda in Gujarat to South Olpad.

The multi-year project significantly boosts the company’s order book and revenue visibility. The contract also highlights GE Vernova T&D India’s expertise in advanced transmission technology, prompting strong investor interest in early trade.

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HCLTech buys HPE Telco unit for $160 million

HCLTech will acquire Hewlett Packard Enterprise’s Telco Solutions business for $160 million, including performance-linked incentives. The deal is expected to close within six months.

Nearly 1,500 engineers from 39 countries will join HCLTech’s global team. The acquisition strengthens HCLTech’s telecom portfolio, including 5G, AI network automation, operations support, and subscriber data management.

The business supports over a billion devices worldwide. This follows HCLTech’s earlier HPE asset acquisition. The move aims to accelerate network transformation and offer advanced services to global communication providers, boosting innovation and engineering capabilities.

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ICICI Prudential AMC among top performers in 2025 IPOs

ICICI Prudential Asset Management Company delivered a strong stock market debut, becoming the second-best performing IPO of 2025 among issues exceeding ₹10,000 crore.

The ₹10,603-crore public offer listed at close to a 20% premium over its issue price, reflecting solid investor confidence. The IPO saw heavy demand across categories, especially from institutional investors, resulting in multiple times subscription.

Only LG Electronics India recorded higher listing gains this year in the large-IPO category. The robust debut highlights sustained interest in established financial services companies, even as overall market conditions remain selective.