Category: Corporate

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Corporate

SBI bets big on new YONO app

State Bank of India (SBI) is stepping up its digital push with a clear goal: to double the number of users on its YONO platform after rolling out a new and improved version of the app. From the current base of around 9.6 crore users, the country’s largest bank wants YONO to reach 20 crore customers in the coming years.

The new version of YONO has been designed to make everyday banking simpler and more intuitive. According to SBI Chairman C.S. Setty, the upgraded app brings together services across mobile phones, the web, and physical branches, offering customers a more seamless and consistent experience. Whether it is checking balances, applying for loans, or making payments, the bank wants customers to feel that digital banking is easy, reliable, and time-saving.

To ensure that customers are comfortable with the transition, SBI is not relying on technology alone. The bank plans to deploy nearly 10,000 staff members across its branches to help customers download the app, register, and learn how to use its features. This hands-on support is especially aimed at first-time digital users and customers who may be hesitant to move away from branch-based banking.

SBI believes that increasing digital transactions through YONO will also help reduce operating costs. Transactions carried out on mobile phones or online platforms are far cheaper than those handled at branches. By encouraging customers to shift routine activities online, the bank expects to improve efficiency while freeing up branch staff to focus on more complex customer needs.

The new YONO app also offers personalised insights, quicker approvals for loan limit enhancements, and the ability to handle a high volume of digital activity smoothly. These features are part of SBI’s broader strategy to strengthen its digital ecosystem and stay competitive in a fast-evolving banking landscape.

Also Read: Bond market ignores RBI rate cut, PSUs pause

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Corporate

RBI clears HDFC Group to buy 9.5% in IndusInd

The Reserve Bank of India (RBI) has granted approval to HDFC Bank and its group companies to acquire a combined stake of up to 9.5 per cent in IndusInd Bank. This regulatory clearance, issued on December 15, 2025, is valid for one year, until December 14, 2026, and comes with specific conditions regarding investment limits and timing.

The approval allows HDFC group entities, including HDFC Mutual Fund, HDFC Life Insurance, and HDFC Pension Fund, to invest in IndusInd Bank shares. However, the RBI has mandated that the total holding at any point must not exceed 9.5 per cent of the bank’s paid-up capital or voting rights, ensuring a cap on control while allowing strategic investments.

HDFC Bank clarified that it does not plan to invest directly, but the combined investments by its affiliates required the regulatory nod. The acquisition must be completed within the one-year approval period, or the permission will lapse, emphasizing the RBI’s requirement for timely execution.

This move comes amid heightened investor focus on IndusInd Bank. The private sector lender has faced challenges in recent years, including governance issues and fluctuations in performance. With HDFC group companies increasing their shareholding, it signals a vote of confidence in IndusInd Bank’s prospects and governance structure.

Market analysts view the RBI’s clearance as a strategic step that allows HDFC group entities to deepen their presence in the private banking sector without breaching regulatory norms. The development is also expected to provide stability to IndusInd Bank’s shareholding pattern, which has been under scrutiny due to previous changes in large stakes held by institutional investors.

RBI approval strengthens HDFC Bank’s group investment strategy, giving its affiliated firms the flexibility to participate in IndusInd Bank’s growth while maintaining regulatory compliance. Investors and market observers will likely watch closely as the group executes its stake acquisition over the coming months.

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Corporate

Vedanta rallies to record ₹551, first time above ₹550

Shares of Vedanta Ltd surged to a record high of ₹551.50 on December 15, 2025, marking the first time the stock crossed the ₹550 mark. The stock gained around 1.5% from its previous close of ₹543.55, reflecting strong buying interest.

The company’s market capitalization rose above ₹2.15 lakh crore, highlighting growing investor confidence. Trading volumes were robust, with over 4 lakh shares changing hands and turnover crossing ₹23 crore.

Analysts point to strong technical indicators supporting the rally. The stock is trading above both short‑ and long‑term moving averages, and the RSI suggests it is not overbought, signaling further room for growth.

Brokerage firms remain bullish. Nuvama has set a target price of ₹686, citing expected earnings growth and lower debt, while Emkay Global recommends the stock with a ₹625 target. Market experts say that sustaining a close above the ₹553 resistance level could push Vedanta toward ₹589 in the near term.

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Corporate

Sensex slips over 350 pts at open, Nifty below 25,950

The markets opened lower on Tuesday, extending the cautious tone seen in recent sessions amid weak global cues and continued concerns around foreign fund outflows. At the opening bell, the BSE Sensex dropped over 350 points, while the NSE Nifty50 slipped below the 25,950 mark, indicating a risk-averse start to the trading day.

Early trade was marked by broad-based selling, with pressure visible across key sectors, particularly banking, financial services, and autos. Market breadth remained weak, with declines outpacing advances on both benchmark indices.

Among individual stocks, Eternal emerged as a major laggard in early deals, falling nearly 3 percent, weighed down by selling interest. Axis Bank also came under pressure, declining around 2.5 percent, dragging the banking index lower. Other frontline financial stocks traded subdued, reflecting investor caution toward the sector at the start of the session.

Auto and metal stocks also opened in the red, mirroring concerns over global growth and commodity demand. Export-oriented stocks showed mixed trends, tracking overnight movements in global markets and currency fluctuations.

On the positive side, gains were limited and stock-specific. Meesho and Adani Power opened higher, supported by selective buying and positive sentiment around company-specific developments. However, early gains in these stocks were insufficient to offset weakness in index heavyweights.

Investor sentiment at the open remained fragile amid continued foreign institutional investor selling, a soft rupee, and uncertainty surrounding global interest rate trajectories. Market participants are also cautious ahead of key economic data releases later in the week, which could influence near-term direction.

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Sensex falls 54 Points, Nifty ends at 26,000

The markets closed marginally lower on Monday, December 15, after posting gains in the previous two trading sessions. The BSE Sensex ended 54 points lower at 85,213, while the NSE Nifty 50 slipped about 20 points to close at 26,027. Despite the mild decline, the Nifty remained above the key 26,000 level, which traders see as an important short-term support.

The market faced selling pressure mainly from auto and financial stocks, as investors chose to book profits at higher levels. Weak global cues and continued selling by foreign institutional investors also kept sentiment subdued throughout the session.

Stock-specific movements were visible across sectors. InterGlobe Aviation (IndiGo) emerged as a key gainer, rising nearly 2%, supported by optimism around travel demand and business growth. On the other hand, Mahindra & Mahindra was among the top losers, falling close to 2%, which weighed on the auto index.

Other sectors showed mixed trends, reflecting uncertainty in the broader market. Banking and auto stocks underperformed, while select stocks from the aviation and consumer segments provided some support.

Global markets offered limited direction. Asian markets ended lower, while European markets traded with mild gains. US stock futures were slightly higher, but concerns over global economic growth, currency volatility, and geopolitical tensions continued to influence investor behaviour.

Foreign investors remained net sellers in Indian equities, adding to the cautious mood on Dalal Street. Market experts said that while India’s long-term growth outlook remains strong, short-term movements are likely to remain volatile.

Analysts believe that Nifty holding above 26,000 is crucial, and a clear breakout above this level could support further gains, while a slip below may trigger short-term weakness.

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Japanese bank Mizuho nears ₹5,900 cr Avendus acquisition

Japanese banking group Mizuho Financial is on the verge of completing its acquisition of a majority stake in Avendus Capital, one of India’s leading investment banks. The deal, valued at around ₹5,900 crore, is expected to be finalized this week, marking one of the largest foreign investments in India’s financial services sector.

The transaction involves KKR and other early investors exiting their holdings in Avendus. Post-acquisition, Mizuho is expected to hold approximately 65–70% of the company, while the remaining shares will stay with Avendus’ founders and a few local investors. Despite the change in majority ownership, the existing leadership at Avendus will continue managing day-to-day operations, ensuring business continuity. Mizuho will, however, gain significant influence through board representation and strategic input on the firm’s growth plans.

Discussions on the deal have been underway for several months, with both parties working closely to finalize terms, including valuation, governance, and management continuity. The Avendus board is expected to meet shortly to approve the transaction, clearing the final regulatory and corporate approvals needed for closure.

This acquisition forms a key part of Mizuho’s strategy to expand its footprint in India, a market it sees as high growth for investment banking, wealth management, and capital markets. By acquiring Avendus, Mizuho aims to strengthen its capabilities in advisory services, private equity, and asset management, leveraging the expertise and established client base of the Indian firm.

Industry experts note that the deal signals increasing confidence of foreign banks in India’s financial sector and reflects the growing trend of international investors seeking stakes in domestic investment banking firms. Once completed, this acquisition will not only enhance Mizuho’s presence in the country but also support Avendus’ growth ambitions, enabling it to compete more effectively with global and domestic peers.

Also Read: Prodocs Solutions lists at 4% premium on BSE SME

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Prodocs Solutions lists at 4% premium on BSE SME

Prodocs Solutions Limited began trading on the BSE SME platform with a positive start, as its shares were listed at a premium over the IPO issue price. The stock opened at ₹144 per share, compared with the issue price of ₹138, giving investors a gain of a little over 4 percent on listing day.

Buying interest remained strong after the opening. Within a short time, the share price rose further and reached the 5 percent upper circuit, which is the maximum price increase allowed for the day on the SME platform. Once the upper circuit was hit, the stock remained locked at that level, showing continued demand from investors.

The Prodocs Solutions IPO was open for subscription between December 8 and December 10. Shares were offered in a price band of ₹131 to ₹138, and the company raised around ₹27.6 crore through the public issue. The IPO received a good response and was subscribed close to three times, reflecting healthy interest from retail and other investors.

Prodocs Solutions is an IT-enabled services (ITES) and business process outsourcing (BPO) company. It mainly provides non-voice services, which do not involve customer calls. Its services include data processing, indexing, e-publishing, title search work, and support services related to legal and financial processes. The company largely serves overseas clients, especially in the United States and Australia, while its operational work is carried out from India.

The company’s financial performance has shown improvement in recent years. As per its disclosures, Prodocs Solutions reported a net profit of ₹5.11 crore in FY25. While revenue growth has been steady rather than rapid, better control over costs has helped improve profitability and strengthen the balance sheet.

Funds raised through the IPO will be used for several purposes. These include upgrading technology systems, developing software capabilities, meeting working capital needs and repaying some existing borrowings. The company believes these investments will help improve efficiency and support future growth.

Market experts said the positive listing performance indicates that investors continue to show interest in SME IPOs with stable operations and improving financials. Despite mixed conditions in the broader stock market, Prodocs Solutions’ debut highlights sustained confidence in well-managed small and medium-sized companies entering the public markets.

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SpaceX hits $800 billion valuation ahead of 2026 IPO

SpaceX, the private aerospace company founded and led by Elon Musk, has taken a significant step toward becoming a publicly traded company. A recent insider share sale has valued SpaceX at around $800 billion, highlighting strong investor confidence as the company prepares for an initial public offering (IPO) expected in 2026.

The share sale allows existing and new investors to purchase SpaceX stock at $421 per share, a price that reflects the company’s rapid growth and ambitious plans. Analysts suggest that the IPO could raise more than $25 billion, potentially pushing SpaceX’s valuation even higher, depending on market conditions. If the company executes its plans successfully, it could become one of the largest IPOs in history.

SpaceX’s soaring valuation is largely supported by its Starlink satellite internet business, which has been expanding quickly. Starlink currently provides internet services in multiple countries and is now planning direct-to-mobile connectivity, which could open a major new revenue stream. In addition, the company continues to make progress on its Starship rocket program, designed for ambitious missions to the moon, Mars, and potentially beyond. These innovations are key drivers behind the company’s strong market interest.

Despite the excitement, SpaceX executives have emphasized that the timing and final valuation of the IPO remain uncertain. Factors such as global market conditions, regulatory approvals, and the company’s operational milestones could influence the final launch. The insider sale, however, demonstrates a clear commitment to preparing the company for public investment.

Elon Musk’s leadership and vision have been central to SpaceX’s growth, from reusable rockets to global satellite internet. Going public would not only provide a new capital influx but also mark a historic moment in financial markets. For investors, the IPO represents a rare chance to participate in a company that is shaping the future of space travel and connectivity.

With its record valuation, technological innovations, and ambitious expansion plans, SpaceX is positioning itself to become a dominant force in both aerospace and the broader tech sector, attracting attention from investors and industry watchers worldwide.

Also Read: Elon Musk confirms SpaceX IPO in 2026

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Sensex down 260 points, Nifty slips near 25,950 in weak start

The equity benchmarks opened lower on Monday, reflecting a cautious start to the trading session. Both the Sensex and the Nifty slipped in early trade as investors reacted to weak global cues and avoided aggressive buying.

The Sensex declined by around 260 points, while the Nifty traded close to the 25,950 level. Selling pressure in key heavyweight stocks weighed on the benchmarks, keeping the overall market sentiment subdued during the early hours.

Weak global trends played a major role in shaping domestic market movement. US markets ended the previous session lower, while Asian stocks also traded in the red. This dampened risk appetite among investors and led to cautious trading in Indian equities.

On the stock-specific front, Shriram Finance, Asian Paints and Tech Mahindra were among the notable gainers, supported by selective buying. However, their gains were limited and insufficient to lift the broader indices.

On the losing side, ONGC, Cipla, Apollo Hospitals, Max Healthcare and Bharti Airtel faced selling pressure and emerged as key drags on the benchmarks. Losses in these large-cap stocks pulled the Sensex and Nifty further into negative territory.

Overall, the market mood remained cautious, with investors closely watching global cues and institutional flows for further direction during the session.

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Corporate

Shiprocket files revised papers for ₹2,342 crore IPO

Logistics and e-commerce enablement startup Shiprocket has filed revised draft papers with market regulator SEBI to raise up to ₹2,342 crore through an initial public offering (IPO). The move brings the Gurugram-based company closer to listing on Indian stock exchanges.

The proposed IPO has two parts. It includes a fresh issue of shares worth up to ₹1,100 crore, which will provide new funds to the company. It also includes an offer for sale (OFS) of shares worth up to ₹1,242 crore, where existing shareholders will sell part of their stake. Shiprocket will not receive any money from the OFS portion.

Some of the company’s early and institutional investors are expected to sell shares in the IPO. These include well-known global investors such as Bertelsmann, Temasek and Tribe Capital, along with certain promoters.

Founded in 2017, Shiprocket offers technology-driven logistics services to online sellers, small businesses and direct-to-consumer (D2C) brands. Its platform helps merchants manage shipping, deliveries, returns and multiple courier partners across India. Over the years, the company has grown by expanding its services and making acquisitions to strengthen its position in the e-commerce supply chain.

The company plans to use the money raised from the fresh issue to upgrade its technology systems, expand its services, boost marketing efforts, and repay or reduce existing debt. Part of the funds may also be used for future acquisitions and general corporate needs.

The revised filing follows an earlier confidential submission to SEBI. Shiprocket’s IPO is expected to attract attention as more technology startups prepare to enter the public markets, even as investors focus on profitability and long-term growth.

Further details such as the IPO launch date, price band and final size will be announced after regulatory approval.

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