Category: Corporate

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Corporate

Cochin Shipyard gets electric tug order from Denmark’s Svitzer

Cochin Shipyard Ltd has secured an international contract to build four battery-electric tugboats for Denmark-based maritime services company Svitzer, marking a major milestone for India’s shipbuilding industry.

The electric tugboats will be constructed at Cochin Shipyard’s Kochi facility and are designed to support port operations by assisting large ships during docking and undocking. Unlike conventional diesel-powered vessels, these tugs will run fully on battery power, helping reduce carbon emissions, fuel consumption, and noise pollution in busy harbour areas.

This is one of the first major export orders for electric tugboats from India, highlighting the country’s growing expertise in building advanced and environmentally friendly vessels. The order strengthens Cochin Shipyard’s position as a key player in the global maritime manufacturing space.

The project also includes an option for Svitzer to place additional orders for more tugboats in the future, depending on operational requirements. Once completed, the vessels are expected to be deployed at international ports where Svitzer operates, supporting cleaner and more efficient port services.

Industry experts say the deal reflects increasing global trust in India’s engineering quality and production capabilities. It also aligns with India’s broader push to promote sustainable manufacturing and green technologies to modernise the maritime sector.

The contract is expected to create job opportunities and enhance skill development at the Kochi shipyard, while also supporting local suppliers and ancillary industries. With this order, Cochin Shipyard continues to expand its global footprint and strengthens India’s reputation as a reliable destination for high-tech shipbuilding and export-driven manufacturing.

Also Read: Starlink India launches ₹8,600/month residential plan

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IndiGo shares fall 7%, government reallocates slots

Shares of InterGlobe Aviation, the parent company of IndiGo, dropped nearly 7% on Monday, marking a seventh consecutive session of losses as investors reacted to ongoing operational turmoil and government intervention. The sell-off has wiped out over ₹30,000 crore in market capitalization, highlighting investor concerns over the airline’s ability to manage its operations and regulatory compliance.

The government has directed IndiGo to reduce about 5% of its daily flights, around 110 flights. amid widespread cancellations and delays. These freed slots are set to be reassigned to other carriers to ease passenger inconvenience during the busy winter season. Between December 1 and 8, IndiGo canceled more than 7.3 lakh bookings, issuing refunds totaling nearly ₹745 crore.

Civil Aviation Minister K Ram Mohan Naidu confirmed the curtailment, noting that the measure aims to prevent over-reliance on a single airline, which currently operates about 2,200 flights daily. The Directorate General of Civil Aviation (DGCA) has warned that further cuts may follow if operations remain inconsistent, and top executives, including the CEO and COO, may be summoned to explain operational lapses.

Analysts say the combination of operational disruptions, regulatory scrutiny, and potential penalties has significantly undermined investor confidence. Brokerages have revised price targets downward, while some caution that further volatility is likely until IndiGo stabilizes operations and restores passenger trust. Despite its dominant market share, the airline’s stock performance underscores the risks of operational and regulatory shocks in India’s aviation sector.

Also Read: Rupee slips, hovers around ₹90 against US dollar

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Sensex falls 500 points, Nifty below 26,000

The Indian stock market opened lower on Tuesday as investor sentiment remained weak after the sharp sell-off in the previous session. The BSE Sensex started the day down by around 500 points, while the NSE Nifty slipped below the 26,000 mark in early trade.

Markets opened on a cautious note and remained volatile in the first hour. Mid-cap and small-cap stocks also came under pressure, showing that investors were in a risk-off mood. Global uncertainty, weak cues from overseas markets and concerns over interest rate decisions in the US added to the nervousness.

A few stocks managed to move higher despite the weak market. IT and FMCG stocks showed resilience as investors shifted money to defensive sectors. Shares of TCS, Infosys, HUL and Nestlé India were among the early gainers. Select pharma stocks also saw buying interest.

Heavy selling was seen in banking, metal and infrastructure stocks. HDFC Bank, ICICI Bank, State Bank of India, Tata Steel and JSW Steel were among the major losers in early trade. Realty and PSU stocks were also under pressure.

Most sectoral indices were trading in the red, with banks, metals, realty and auto stocks leading the losses. IT stocks were the only sector showing relative strength.

Market experts said today’s weak opening reflects ongoing global worries and foreign investor selling. A weak rupee and rising bond yields internationally also kept investors cautious.

Analysts advised investors to stay calm during this volatile phase and avoid panic buying or selling. They said market movements in the near term will depend largely on global developments and foreign investment flows.

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ICICI Securities sees 21% upside in ITC Hotels shares

ICICI Securities, a leading brokerage firm, has recommended buying ITC Hotels shares. They have set a target price of ₹250 per share, suggesting the stock could rise about 21% from current levels. The main reasons are ITC Hotels’ good cash reserves, plans to open more hotels, and a growing number of managed properties.

Currently, ITC Hotels runs over 145 hotels with 13,600+ rooms across India. The company uses an asset-light model, meaning it focuses on managing or franchising hotels instead of owning all the properties. This helps them expand faster and use money efficiently. By 2030, ITC aims to have 220 hotels with more than 20,000 rooms, with managed hotels making up two-thirds of their properties.

The company already has 59 managed hotels in the pipeline, adding around 5,500 rooms, and is starting three new projects in Puri, Bhubaneswar, and Visakhapatnam, adding another 400+ rooms.

ICICI Securities expects ITC Hotels’ revenue to grow about 12% per year, and profits before tax and interest (EBITDA) to rise around 15% yearly until 2028. Margins are expected to improve from 34% to 37%. The company has net cash of around ₹1,700 crore, which gives it the flexibility to open new hotels and upgrade existing ones. Income from management fees is also expected to grow by 17% per year.

There are some risks. If hotel occupancy or room prices do not increase as expected, or if new hotels are delayed, growth could slow down.

Still, ICICI Securities believes ITC Hotels is a good investment, thanks to its strong balance sheet, smart expansion strategy, and efficient business model. The company is seen as one of India’s promising hotel chains with clear growth plans for the future.

Also Read: Corona Remedies IPO shines, 33% subscribed on Day 1

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Sensex slides 610 Points, Nifty falls below 26,000

Indian stock markets closed lower on Monday, with the Sensex dropping 610 points to 54,320 and the Nifty 50 falling 225 points to 25,960. Investors appeared cautious ahead of a busy week packed with upcoming IPOs, while global cues remained mixed.

Most sectors reflected broad weakness, with auto, banking, financial services, FMCG, metals, pharma, PSU banks, realty, private banks, healthcare, consumer durables, oil & gas, mid- and small-cap, and chemicals showing softness. Only select pockets like IT and media demonstrated mild resilience, hinting at selective optimism amid overall market hesitation.

Among individual stocks, Bharat Electronics (BEL) led the losses with a 5% drop, followed by Eternal Industries, which fell 2%. On the upside, Kesoram Industries surged nearly 20% after a block deal exit by the Birla family. Other gainers included some IT and media names that managed to stay afloat despite the overall weak trend.

The Indian rupee closed marginally lower at 90.07 against the US dollar, weakening 0.1% from the previous session. Global markets saw mixed movements, with S&P 500 futures rising 0.2% and Nasdaq futures up 0.3%, while Hong Kong’s Hang Seng fell 1%. Asian indices like Japan’s Topix and Shanghai Composite recorded modest gains.

Market participants cited cautious sentiment ahead of key economic data and corporate earnings announcements this week. Analysts suggested that while select sectors may offer short-term opportunities, investors should remain watchful given the broader global and domestic uncertainties.

Also Read: Corona Remedies IPO shines, 33% subscribed on Day 1

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IndiGo slumps 7% as flight chaos hits harder

IndiGo, the airline in its peak of focus now, saw its shares drop sharply this week after major flight disruptions and regulatory scrutiny rattled investors. On December 8, 2025, the stock fell nearly 7%, adding to losses seen earlier in the week.

The problems began after new flight duty rules for pilots came into effect. These rules regulate how many hours pilots can fly and how much rest they must get. IndiGo struggled to adjust its crew schedules to comply with the changes, leading to a shortage of available pilots. The result was massive flight cancellations and delays. On December 5 alone, over 1,000 flights were cancelled, causing inconvenience for thousands of passengers and a hit to the airline’s reputation.

The Directorate General of Civil Aviation (DGCA), India’s aviation regulator, has launched a probe into the airline’s operations and issued a show-cause notice to IndiGo’s CEO. The DGCA has now extended the deadline for IndiGo to respond, giving the airline some time to stabilise operations.

IndiGo has set up a “Crisis Management Group” with top executives to manage the situation. The airline is working to adjust flight schedules, revise crew rosters, and restore on-time performance. Reports suggest that flight operations are gradually improving, with on-time performance recovering from a low of 30% back to around 75%.

Despite the short-term challenges, some analysts see a silver lining. Jefferies, a global brokerage firm, has maintained a “buy” rating on IndiGo. The firm believes the airline still has strong market dominance in India and potential for international growth. According to Jefferies, shares could rise by more than 30% once operations stabilise and normal schedules resume.

Investors are being advised to watch whether IndiGo can successfully meet the DGCA deadline and maintain operational improvements. Costs for fuel and crew, along with regulatory oversight, remain key risks in the short term.

While the airline faces immediate hurdles, experts say IndiGo’s long-term fundamentals remain strong. Once the disruptions are resolved, the company is expected to recover and continue its growth trajectory, making this period potentially a buying opportunity for investors.

Also Read: Eternal sees ₹1,535 cr block deal shake stock

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Eternal sees ₹1,535 cr block deal shake stock

Eternal Ltd, the parent company of Zomato and Blinkit, grabbed market attention on Monday as a large block deal worth ₹1,535 crore was executed. Around 5.3 crore shares changed hands at ₹290.4 per share, representing roughly 0.54% of the company’s total equity. The deal marked one of the biggest secondary-market transactions for Eternal in recent months.

Following the block sale, Eternal’s stock initially surged to an intraday high of ₹297.35, showing positive momentum. However, it later retreated to close near ₹285.75, reflecting a drop of about 4% from the day’s peak. This swing highlighted the market’s cautious sentiment amid heavy institutional selling.

This latest transaction is part of a broader trend of large institutional share movements in Eternal over the past year. In mid-November, nearly 90 lakh shares were sold in a block deal, and in June, another 61 lakh shares were traded. Such repeated activity underscores investors’ attention on the company’s stock despite its high-profile operations in food delivery and quick commerce.

On the financial front, Eternal reported mixed results for the second quarter of FY26. Revenue jumped 183% year-on-year to ₹13,590 crore, driven mainly by Blinkit’s expansion. Yet, net profit fell sharply by 63% to ₹65 crore compared with ₹176 crore in the same quarter last year. The company attributed the decline partly to recent acquisitions and the ongoing investment push into its quick-commerce business.

Eternal also issued a cautious outlook for its food-delivery segment. The company noted that growth in Zomato could slow due to weakening discretionary spending, rising competition from quick-commerce rivals, and unpredictable weather patterns.

Meanwhile, Eternal has been actively supporting Blinkit, injecting ₹2,600 crore in 2025 alone to fund expansion, cover operating losses, and maintain working capital.

With substantial block sales, a notable drop in profitability, and uncertain near-term growth prospects despite strong revenue growth, Eternal remains under close investor scrutiny. The company’s stock movements and institutional activity are likely to continue attracting attention in the coming months.

Also Read: Wakefit IPO opens at ₹185–195, raising ₹1,289 crore

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Wakefit IPO opens at ₹185–195, raising ₹1,289 crore

Wakefit Innovations Ltd., the direct-to-consumer (D2C) home-furnishing and mattress brand, opened its initial public offering (IPO) on 8 December 2025, targeting ₹1,288.9 crore. The price band is set at ₹185–195 per share, with ₹377.18 crore offered as a fresh issue and ₹911.71 crore through an offer-for-sale. The shares will list on both BSE and NSE, with allotment expected by 11 December and tentative listing on 15 December. Retail investors can apply for a minimum of 76 shares, which comes to about ₹14,820 at the upper price band.

Institutional investors have shown strong interest, with the anchor portion fully subscribed at the upper band, highlighting confidence in Wakefit’s growth story. The company recorded over 28% revenue growth in FY25 and turned profitable for the six months ending September 2025, marking a potential turnaround after several years of losses.

However, risks remain. Wakefit posted a net loss of about ₹35 crore in FY25. Its business continues to rely heavily on mattresses, making it sensitive to changing consumer preferences and raw material costs. High marketing and distribution expenses, coupled with intense competition, continue to put pressure on margins. Some brokerage firms have issued cautious ratings, urging investors to carefully weigh the IPO’s valuation against potential returns.

Grey-market activity suggests modest listing gains. While initial premiums were around ₹36 per share, these have cooled to roughly ₹16, implying expected listing gains of about 8%.

Wakefit’s IPO offers investors a chance to back a growing, brand-recognised D2C home-furnishing player. For long-term investors willing to take a calculated risk, there is potential. Yet, the combination of past losses, reliance on a narrow product range, and margin pressures calls for careful consideration before subscribing.

Also Read: Vodafone Idea seeks fresh AGR review to slash dues

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Vodafone Idea seeks fresh AGR review to slash dues

Vodafone Idea (Vi) has formally submitted a proposal to the Department of Telecommunications (DoT) requesting a fresh recalculation of its Adjusted Gross Revenue (AGR) dues. The telecom operator claims that previous assessments included arithmetic errors and duplicate entries, which significantly inflated its liability. Alongside the recalculation request, Vi has sought a one-time waiver of penalties and interest linked to these dues.

The company believes that rectifying these discrepancies could reduce its outstanding AGR payments by nearly half, easing its financial burden and improving liquidity. Vodafone Idea estimates that its current pending liability could be lowered by approximately ₹45,000–50,000 crore if the recalculation is accepted.

The proposal is not only aimed at financial relief but also at enabling strategic growth initiatives. Vi plans to raise around ₹25,000 crore from banks and financial institutions to support its planned capital expenditure of ₹50,000–55,000 crore for rolling out 5G services across India. This capital infusion would strengthen the company’s network infrastructure and enhance service offerings in the competitive telecom market.

Industry experts note that if the government approves the proposal, it could transform Vodafone Idea’s operational outlook. By reducing cash-flow pressure and freeing up capital, the company would be better positioned to invest in technology upgrades, expand 5G coverage, and maintain market competitiveness. Additionally, the restructuring of dues could open possibilities for government equity dilution, further supporting corporate flexibility and investor confidence.

Vodafone Idea has been navigating significant financial challenges since the Supreme Court’s ruling on AGR dues, which has affected several Indian telecom operators. The current proposal reflects the company’s proactive approach to regulatory engagement and its commitment to sustainable growth. Stakeholders, including investors, customers, and regulators, are closely monitoring the development, which has the potential to reshape Vi’s financial stability and accelerate its transition into the 5G era.

Also Read: Adani Green champions nature-positive growth in renewable energy

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Adani Green champions nature-positive growth in renewable energy

Adani Green Energy Ltd (AGEL), India’s largest renewable-energy producer, is taking a bold step to ensure its growth is in harmony with nature. The company has formally adopted the Taskforce on Nature-related Financial Disclosures (TNFD) framework, a global standard that helps businesses identify, manage, and reduce their impact on ecosystems and biodiversity.

Starting this year, AGEL has been assessing all its operational sites to understand how its projects interact with forests, water bodies, and local wildlife. The goal is not just to reduce environmental risks, but to actively create opportunities to support nature. CEO Ashish Khanna emphasised, “Nature is central to our growth story,” highlighting the company’s commitment to sustainable development.

AGEL has pledged to achieve “No Net Loss of Biodiversity” by 2030. This ambitious target includes planting 27.86 million trees across its solar and wind energy projects. Currently, the company operates more than 16.5 GW of renewable capacity in 12 states and aims to scale this to 50 GW by 2030, contributing significantly to India’s clean-energy transition.

Beyond energy generation, AGEL has already implemented sustainable practices across its projects, including being water-positive, single-use plastic-free, and zero waste-to-landfill. By integrating the TNFD framework, the company moves beyond standard ESG compliance, adopting a science-backed approach to measure and manage its ecological footprint.

This initiative sends a strong message to the renewable-energy sector: infrastructure growth and environmental stewardship can go hand in hand. By embedding nature-positive principles into its expansion plans, AGEL is setting a new benchmark for responsible clean-energy development in India and globally.

As India ramps up its renewable-energy ambitions, AGEL’s approach shows that development doesn’t have to come at the cost of nature. Instead, with thoughtful planning and commitment, it is possible to power the future while protecting the planet we rely on.

Also Read: DGCA gives IndiGo final 24‑hour response deadline