Category: Corporate

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Corporate

ONGC may get $500 million from Venezuela

State-run Oil and Natural Gas Corporation (ONGC) could receive around $500 million (about ₹4,100 crore) in long-pending dividends from its investments in Venezuela if the United States eases sanctions on Venezuelan oil, according to market analysts.

The unpaid amount is linked to ONGC’s overseas arm, ONGC Videsh Ltd (OVL), which holds a 40 per cent stake in the San Cristobal oil project in Venezuela. Although the oilfield has generated profits in the past, US sanctions imposed on Venezuela prevented the transfer of dividends to foreign partners, including ONGC.

Brokerage firm Jefferies said that a possible U.S.-led restructuring of Venezuela’s oil sector, along with changes in sanctions policy, could allow these blocked funds to be released. If this happens, ONGC would be able to recover the long-stuck dividends, improving its cash position.

Apart from San Cristobal, ONGC Videsh also owns an 11 per cent stake in the Carabobo oil block in Venezuela. This project has remained largely stalled due to funding issues, sanctions, and operational challenges. Any easing of restrictions could revive investment activity in this asset as well.

Analysts say the potential dividend recovery is not yet factored into ONGC’s stock price, making it an upside trigger for investors. However, they caution that the outcome depends heavily on geopolitical developments and US policy decisions, which remain uncertain.

ONGC has maintained strong financial performance in recent quarters, supported by steady crude oil production and stable energy prices. The possible recovery of Venezuelan dues would add further strength to its balance sheet.

While Venezuela’s oil output is currently limited, even a partial easing of sanctions could benefit global energy companies with legacy investments in the country. For ONGC, unlocking these funds would mark a significant recovery of long-delayed overseas earnings.

Also Read: Bharat Coking Coal IPO price set at ₹21–₹23

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Corporate

Bharat Coking Coal IPO price set at ₹21–₹23

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited, has fixed the price band for its initial public offering (IPO) at ₹21 to ₹23 per share. The company plans to raise about ₹1,071 crore through this issue, which will be entirely an offer-for-sale (OFS). This means Coal India will sell part of its stake, while BCCL itself will not receive any fresh funds from the IPO.

The IPO will open for public subscription on January 9 and close on January 13. Anchor investors will be able to bid a day earlier, on January 8. Shares are expected to be listed on the BSE and NSE on January 16, subject to final approvals.

The issue consists of up to 46.57 crore equity shares with a face value of ₹10 each. Retail investors can apply for a minimum of one lot of 600 shares. At the lower end of the price band, the minimum investment works out to about ₹12,600, while at the upper end it is around ₹13,800. Eligible employees will get a discount of ₹1 per share.

As per market rules, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors such as high-net-worth individuals. Separate reservations have also been made for eligible employees and existing Coal India shareholders.

Market interest in the IPO appears strong. In the grey market, BCCL shares are reportedly trading at a premium of around ₹16 per share, suggesting expectations of a healthy listing gain. However, investors are advised to note that grey market premiums are unofficial and can change quickly.

Bharat Coking Coal is one of India’s key producers of coking coal, which is mainly used in steel making. The company operates largely in Jharkhand and West Bengal, including the Jharia coalfields. Its listing is part of the government’s broader plan to unlock value from public sector subsidiaries and improve transparency through market participation.

Also Read: Air India seeks new CEO as leadership changes loom

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Corporate

Adani Enterprises buys 49% stake in road firm

Adani Enterprises Ltd, the flagship of the Gautam Adani‑led conglomerate, was in the market spotlight on January 5 after announcing a strategic acquisition move via one of its subsidiaries. Shares of the diversified infrastructure and incubation company closed 1.01 percent higher at ₹2,280.50, with a market capitalisation of around ₹2.63 lakh crore, as investors reacted to the latest development.

In a regulatory filing, Adani Enterprises said its wholly owned unit, Adani Road Transport Limited (ARTL), has signed definitive agreements to acquire a 49 percent stake in Sree Vishwa Varadhi Private Limited (SVVPL). The transaction is structured as a subscription to newly issued securities of SVVPL. In addition to the initial stake acquisition, ARTL has secured an option to purchase additional shares from the existing shareholder, subject to receipt of regulatory approvals.

Under the terms of the deal, ARTL will gain rights including the ability to appoint two nominee directors to SVVPL’s board, enhancing its operational oversight in the acquired business. SVVPL and its affiliate VSEPL are not connected to the promoters or promoter group of Adani Enterprises, indicating this transaction involves third‑party infrastructure assets rather than internal group realignment.

The acquisition underscores Adani Enterprises’ ongoing strategy to expand and diversify its presence across key infrastructure sectors, particularly in transport and logistics, a core focus area for the group. The road assets segment has been a significant contributor to Adani’s infrastructure ecosystem, complementing other verticals such as airports, data centres, green energy, and utilities. This move aligns with broader industry trends where conglomerates seek to scale asset ownership via strategic partnerships and capital investments.

Market participants noted that while the stock rise was moderate on the acquisition news, the underlying transaction could support future revenue streams and strengthen the company’s asset base. Adani Enterprises has recently also been active in raising funds through bond markets and refining its portfolio mix to balance growth with financial resilience.

Also Read: Rupee drops to 90.24 paise on Venezuela crisis

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Corporate

Sensex up 50 pts, Nifty holds above 26,350 in early trade

The markets opened the week on a steady note on Monday, where the BSE Sensex rose over 50 points in early trade, while the Nifty 50 managed to stay above the key 26,350 mark, indicating cautious optimism among investors .

Buying interest was seen in select banking, FMCG and consumer stocks, which helped support the indices. Shares of some private banks and financial services companies moved higher as investors positioned themselves ahead of the ongoing December quarter earnings season. Consumer-focused stocks also saw gains following positive business updates and stable demand outlook.

On the downside, IT and metal stocks faced mild selling pressure. Technology shares slipped as investors remained cautious due to uncertainty around global growth and currency movements. Metal stocks also traded lower, tracking weak cues from international markets and concerns over demand.

Market sentiment remained fragile due to rising geopolitical tensions overseas, particularly after reports of US military action in Venezuela. These developments pushed investors to remain selective, leading to range-bound trade during the morning session. Crude oil prices and global market trends were closely monitored, given their potential impact on inflation and market volatility .

The broader market showed mixed performance, with mid-cap and small-cap stocks trading flat to slightly positive. The Indian rupee weakened marginally against the US dollar, adding to cautious sentiment.

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Corporate

BYD surpasses Tesla as global EV leader in 2025

China’s BYD has overtaken Tesla to become the world’s largest electric vehicle (EV) seller in 2025, delivering 2.26 million battery electric cars compared with Tesla’s 1.63 million. BYD’s sales rose 28% year-on-year, while Tesla’s dropped 9%, marking the company’s second consecutive annual decline.

Industry analysts attribute Tesla’s slowdown to reduced US EV subsidies under President Donald Trump and mixed consumer sentiment over Elon Musk’s political positions. Meanwhile, BYD has expanded both domestically and internationally, leveraging competitive pricing, a diverse vehicle lineup, and advanced technology, including its “God’s Eye” autonomous driving system.

Founded in 1995 as a battery company by Wang Chuanfu, BYD has successfully scaled production to compete globally. Analysts note that the global EV market continues to expand, though pricing pressures and policy changes create challenges and opportunities for manufacturers. BYD’s milestone reflects both the rapid growth of Chinese EV makers and the shifting balance of power in the international automotive industry.

BYD’s rise signals the growing dominance of Chinese automakers, including SAIC and Chery, in the global EV market. The shift highlights China’s growing influence in electric mobility, challenging traditional leaders and reshaping the industry’s competitive landscape.

Despite falling sales, Tesla remains the world’s most valuable carmaker with a market capitalization of $1.4 trillion, supported by investor confidence in Musk’s technological innovations, including autonomous vehicles and AI-driven projects like robotaxis.

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Corporate

SEBI clears 8 IPOs, Indira IVF among them

The Securities and Exchange Board of India (SEBI) has approved initial public offering (IPO) plans of eight companies, signalling steady activity in the primary market. The companies that received the regulator’s clearance include Indira IVF, Rays of Belief, RKCPL Ltd, Chartered Speed, Glass Wall Systems (India), Shriram Food Industry, Tempsens Instruments (India), and Jerai Fitness.

SEBI’s approval, referred to as regulatory “observations”, allows these companies to move ahead with their IPO process. They can now update their offer documents, finalise issue details, and plan market launches, depending on investor demand and market conditions.

Among the approved firms, Indira IVF stands out as a well-known fertility care provider with clinics across several Indian cities. The company had earlier withdrawn its IPO papers and later refiled them using the confidential route, which keeps draft documents private until SEBI grants its observations. Rays of Belief, which works in child development and therapy services, also used the confidential filing route and has now received approval.

The remaining companies filed their IPO applications through the regular process. RKCPL Ltd operates in the infrastructure and civil construction space, while Chartered Speed provides passenger transport and mobility services. Glass Wall Systems (India) is engaged in façade and building solutions, supplying products for commercial and residential projects.

Shriram Food Industry is involved in food processing and exports, and Tempsens Instruments (India) manufactures thermal engineering products and specialised cables used in industrial applications. Jerai Fitness, another company on the list, is known for making gym and fitness equipment for both commercial and home use.

The approvals were issued between late December and early January. Once SEBI observations are received, companies usually have a limited period to launch their IPOs, subject to market conditions.

Market participants see these approvals as a positive sign for India’s IPO pipeline. The presence of companies from diverse sectors such as healthcare, infrastructure, manufacturing, fitness, and food processing reflects broad interest in raising funds from public investors. Investors are now expected to closely watch the final offer details and timelines of these upcoming IPOs.

Also Read: Adani Enterprises opens Rs 1,000 cr NCD issue

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Corporate

Cupid shares fall 20% after long rally ends

Cupid Ltd shares saw a sharp fall of 20 percent, hitting the lower circuit and ending a strong 13-day winning streak. The fall came after heavy profit booking by investors and the stock being placed under the Additional Surveillance Measure (ASM) framework by stock exchanges.

The stock had been on a remarkable run, gaining more than 450–550 percent over the past one year, making it one of the best-performing small-cap stocks. In the previous session, Cupid shares touched a 52-week high of around Rs 527. However, the sharp rise also raised concerns about high valuations and excessive speculation.

On the day of the fall, Cupid shares dropped to around Rs 419–420 on the NSE. Trading volumes were unusually high, showing strong selling pressure as many investors chose to book profits after the steep rally.

A key reason behind the sudden decline was the decision by the NSE and BSE to place Cupid under Long-term ASM Stage 1. Under this framework, traders will have to pay 100 percent margin on trades from January 6, 2026. This means no leverage will be allowed, which often reduces short-term trading interest and liquidity in the stock. The ASM framework is meant to protect investors and control extreme price movements.

Market experts said the correction was expected after such a sharp rise in a short period. Technical indicators also suggest near-term weakness, with the stock slipping below important short-term averages. Analysts believe the stock may find support around Rs 370, while any recovery could face resistance near Rs 440–445.

Despite the sharp fall, some analysts remain positive on the company’s long-term fundamentals. Cupid has shown steady business growth, improved financial performance and expansion plans, which supported the stock’s strong rally over the past year. However, experts caution that volatility may continue in the short term due to regulatory restrictions and profit booking.

Overall, the sharp fall in Cupid shares highlights the risks involved in high-momentum small-cap stocks. While the long-term story may remain intact, investors are advised to stay cautious until the stock shows signs of stability.

Also Read: Adani Enterprises opens Rs 1,000 cr NCD issue

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Corporate

Adani Enterprises opens Rs 1,000 cr NCD issue

Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced the launch of its third public issue of secured non-convertible debentures (NCDs), aiming to raise up to Rs 1,000 crore from the debt market. The issue offers investors returns of up to 8.90 per cent per annum, making it an attractive option for those seeking steady income through fixed-return instruments.

The NCD issue will open for subscription on January 6, 2026, and close on January 19, 2026, though the company may close it earlier depending on demand. The base issue size is Rs 500 crore, with a green shoe option of another Rs 500 crore, taking the total size to Rs 1,000 crore.

Each debenture has a face value of Rs 1,000, and retail investors can apply for a minimum of 10 NCDs, or Rs 10,000. The issue includes multiple series with tenures of 24, 36 and 60 months, allowing investors to choose between quarterly, annual or cumulative interest payout options, depending on their financial goals.

The NCDs are secured in nature and have been rated ‘AA-’ with a stable outlook by CARE Ratings and ICRA, indicating a strong capacity to meet financial commitments. Once allotted, the debentures will be listed on both the BSE and NSE, offering liquidity to investors.

According to the company, a large portion of the funds raised—at least 75 per cent—will be used to repay or prepay existing borrowings, helping strengthen the balance sheet. The remaining amount will be deployed for general corporate purposes.

Adani Enterprises’ earlier NCD offerings have seen robust interest. Its previous issue, launched in mid-2025, was reportedly fully subscribed within hours, highlighting growing investor confidence in the company’s debt instruments.

The current issue is being managed by Nuvama Wealth Management, Trust Investment Advisors, and Tipsons Consultancy Services, among others.

For investors looking for predictable returns backed by a well-rated corporate issuer, the latest Adani Enterprises NCD issue offers a structured and flexible investment opportunity.

Also Read: Fresh electronics projects to bring ₹41,800 cr investment, jobs

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Corporate

Sensex climbs 573 points, Nifty hits new peak

Markets ended the week on a strong note, with both benchmark indices hitting fresh highs. The Nifty 50 closed at 26,328, up 182 points or 0.7%, while the BSE Sensex gained 573 points, ending at 85,762. This marked a robust start to the 2026 trading year.

Positive global cues, strong corporate earnings expectations, and healthy domestic buying supported the market rally. Banking and financial stocks led sectoral gains, while autos, metals, and energy also drew investor attention. Among individual stocks, Coal India jumped over 7%, and Hindalco rose around 4%, driving much of the upside.

On the flip side, FMCG stocks lagged, with some tobacco and consumer goods shares under pressure due to recent tax news. Despite this, broader market participation remained strong. Mid-cap and small-cap indices also closed higher, indicating buying interest beyond the headline companies.

Market experts noted that the rally reflected both optimism around domestic growth prospects and supportive global trends. Investors remained cautious on defensive sectors but favored cyclicals and commodity-linked stocks.

Overall, Friday’s session highlighted strong investor sentiment and healthy market breadth, setting a positive tone for early 2026 trading. Analysts expect the markets to remain volatile in the short term, but the current trend suggests continued optimism among domestic and foreign investors alike.

Also Read: Auto rally lifts Sensex 350 pts, Nifty crosses 26,250

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KFC operators Sapphire Foods, Devyani to merge

Sapphire Foods India Ltd and Devyani International Ltd, two of the largest franchise operators of KFC and Pizza Hut in the country, have announced a merger that will create India’s biggest quick-service restaurant (QSR) operator. The deal, approved by the boards of both companies, will be executed through a share-swap arrangement, with Devyani International becoming the surviving listed entity.

As per the merger terms, shareholders of Sapphire Foods will receive 177 shares of Devyani International for every 100 shares they hold. The combined entity will operate more than 3,000 restaurants across India and select international markets, making it a dominant player in the organised fast-food segment. The portfolio will include popular global brands such as KFC, Pizza Hut and Costa Coffee.

The merger is expected to take around 12 to 15 months to complete and will be subject to approvals from shareholders, regulators and other statutory authorities. The appointed date for the merger is April 1, 2026.

The move comes at a time when India’s QSR sector is facing pressure from slowing urban demand, rising input costs and intense competition. By combining operations, the two companies aim to achieve economies of scale, improve supply chain efficiencies, reduce overhead costs and strengthen their negotiating power with suppliers and landlords.

Sapphire Foods currently operates KFC and Pizza Hut outlets across India and Sri Lanka, while Devyani International runs a wide network of KFC, Pizza Hut and Costa Coffee stores in India and overseas markets. The merger will also simplify Yum! Brands’ franchise structure in India by bringing most of its key outlets under one large operator.

The stock market reacted swiftly to the announcement. Shares of Devyani International rose sharply, reflecting investor optimism about the benefits of scale and long-term growth prospects. In contrast, Sapphire Foods shares came under pressure, as investors assessed the share-swap valuation and near-term integration challenges.

Experts in the industry are of the opinion that this merger could strengthen profitability over the long term if synergies are executed well, though short-term challenges related to integration, demand recovery and cost control remain. Once completed, the combined company is expected to be better positioned to expand aggressively and compete with other major fast-food chains in India’s growing QSR market.

Also Read: China’s DeepSeek reveals efficient AI training