Category: Corporate

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Corporate

Sensex slips 20 points, Nifty ends below 25,950 on year-end caution

The markets closed almost flat on Tuesday, with BSE Sensex slipping 20 points to close at 84,675, while the NSE Nifty 50 ending marginally lower at 25,938, staying below the 25,950 mark. Thin volumes and profit-booking marked the session, typical of year-end trade.

Market sentiment remained muted through the day as participants avoided taking fresh positions ahead of the new calendar year. Persistent selling by foreign institutional investors (FIIs) also weighed on benchmarks, even as domestic investors provided some support at lower levels.

Sectoral performance was mixed. Auto and select financial stocks showed resilience, helping limit losses in the headline indices. Mahindra & Mahindra gained around 2 per cent, emerging as one of the top Sensex gainers, supported by positive outlook on demand and margins. Bajaj Finserv also advanced, outperforming the broader market despite weak overall sentiment.

On the downside, IT and cement stocks faced selling pressure. Infosys and HCL Technologies declined, tracking weakness in global technology stocks and cautious guidance expectations. UltraTech Cement also ended lower, adding to the drag on the Sensex. Losses in these heavyweights offset gains seen in autos and select financials.

The broader market reflected similar caution. Mid-cap and small-cap indices closed marginally lower, indicating a lack of strong risk appetite. Traders largely stayed on the sidelines, with many opting to lock in gains after a strong performance in earlier parts of the year.

Global cues offered limited direction. Asian markets were largely flat, while US futures traded mixed, providing no clear trigger for Indian equities. European markets also remained subdued during Indian trading hours.

Meanwhile, stock-specific activity remained in focus due to quarterly Nifty index rebalancing, which led to adjustments in select stocks. In the debt market, a few corporate bond issuances were reported, though overall activity was muted.

Market experts said Indian equities may remain range-bound in the near term, with investors awaiting fresh triggers such as corporate earnings, macroeconomic data and global policy signals in early 2026.

Also Read: Sensex drops 346 points, Nifty 25,942

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Corporate

Reliance rejects $30bn government claim over KG-D6 gas

Reliance Industries Limited (RIL) has rejected recent media reports claiming that the Government of India is seeking $30 billion in compensation from it and partner BP over underproduction from the KG‑D6 deepwater gas field in the Krishna Godavari basin. RIL described these reports as “factually incorrect, inappropriate, and irresponsible” in a statement to stock exchanges.

The company clarified that no $30 billion claim exists against it or BP. The actual claim relates to about $247 million, a figure that has been fully disclosed in audited financial statements, consistent with disclosure requirements.

The dispute traces back over a decade and concerns costs the government allegedly disallowed for recovery during development and production of the KG‑D6 block’s D1 and D3 gas fields. Under the production sharing contract, companies can recover specific costs before profit sharing with the government. Media reports had suggested that lower gas output due to operational choices, including fewer wells, prompted the government to demand large compensation.

RIL and BP maintain they complied with all contractual and legal obligations, and geological factors limited field output. They stressed that the matter is sub judice, meaning it is under active judicial review, and any resolution will follow India’s legal process, including potential appeals up to the Supreme Court.

The company criticised reports relying on unnamed sources and misrepresenting facts. RIL reiterated its confidence in transparency and compliance with legal and contractual standards, asserting that the exaggerated claim misleads the public and investors.

Also Read: RBI flags rising bank competition

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Corporate

L&T wins contract for Hyderabad Greenfield radial road project

Larsen & Toubro (L&T) has secured a significant infrastructure contract for Phase-2 of the Hyderabad Greenfield Radial Road project, reinforcing its strong presence in India’s transportation infrastructure sector. The project is located in Ranga Reddy district, Telangana, and has been awarded to L&T’s Transportation Infrastructure business.

According to the company’s regulatory filing, the order is categorised as a “significant” contract, with an estimated value ranging between ₹1,000 crore and ₹2,500 crore. The project involves the construction of a 22.3-km long, access-controlled radial road designed to improve connectivity between Hyderabad’s Outer Ring Road (ORR) and the proposed Regional Ring Road (RRR), which is expected to play a key role in decongesting the city and supporting regional growth.

The road will be built with three lanes on each side and is intended to allow smooth, high-speed traffic movement. A major component of the project is the construction of a 3.6-km long viaduct, along with several minor bridges and underpasses. The scope of work also includes the development of service roads, drainage systems, footpaths, cycle tracks, and landscaping, making the corridor more commuter-friendly and sustainable.

The Hyderabad Greenfield Radial Road project is part of a broader urban infrastructure plan aimed at improving last-mile connectivity, reducing travel time, and facilitating better movement of people and goods. By linking the ORR with the upcoming RRR, the road is expected to ease traffic pressure on existing routes and support the expansion of residential, commercial, and industrial hubs around Hyderabad.

L&T stated that the project will be executed within the stipulated timeline as per contract conditions. The order win highlights the company’s continued success in securing large public infrastructure projects and reflects ongoing government focus on road development and urban mobility.

With Hyderabad witnessing rapid urbanisation and increased traffic volumes, the completion of this radial road is expected to significantly enhance regional connectivity, boost economic activity, and contribute to the city’s long-term infrastructure growth.

Also Read: India’s rare earth reserves high, production still low

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Corporate

BEL bags Rs. 569 cr defence orders

Bharat Electronics Limited (BEL), a Navratna PSU under the Ministry of Defence, has secured new defence orders worth Rs. 569 crore since its last disclosure on December 12, 2025, according to stock exchange filings. These orders span a wide range of defence equipment and services, further expanding BEL’s order book and reinforcing its position in India’s defence sector.

The contracts cover radars, tank overhaul projects, communication devices, fire control systems, simulators, antenna stabilization systems, security software, spare parts, and related services. This underscores BEL’s diversified capabilities in battlefield communication, electronic warfare, and equipment maintenance for the Indian Armed Forces.

BEL’s shares have seen strong investor interest, reflecting confidence in the company’s growth potential. The stock recently touched Rs. 396.90 on the BSE, marking notable gains this year despite broader market fluctuations.

These orders align with ongoing initiatives by the Defence Acquisition Council (DAC), which recently approved capital procurement proposals worth around Rs. 79,000 crore, expected to further boost demand for domestic defence manufacturers.

BEL has consistently received contracts in recent months, including for counter-unmanned aerial systems and software-defined radios, highlighting the government’s focus on indigenisation and technology-driven solutions.

Financially, BEL continues to perform well, with recent quarterly results showing growth in revenue and profits year-on-year. Analysts expect continued market focus on the company’s execution capabilities and future order inflows.

The Rs. 569 crore order win strengthens BEL’s strategic role in India’s defence ecosystem and highlights growing momentum in domestic defence manufacturing.

Also Read: Hindustan Copper up 67%, Hindustan Zinc up 35% in Dec.

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Corporate

Sensex flat in early trade, Nifty holds above 25,950

Equity benchmarks traded largely flat on Monday, December 30, where the BSE Sensex moved in a narrow range and showed little change, while the Nifty50 managed to hold above the 25,950 level, supported mainly by buying in automobile stocks.

The Nifty Auto index rose over one per cent, emerging as the top sectoral performer. Buying interest was seen in select auto and defence stocks, helping the market recover from early losses. Bharat Electronics Ltd (BEL) was among the notable gainers, supported by continued investor interest in defence-related stocks. Shriram Finance also moved higher following positive sentiment around its business outlook.

On the downside, several heavyweight stocks traded lower, capping overall market gains. Bajaj Finance and Apollo Hospitals were among the key losers in early trade, along with stocks such as Jio Financial Services, InterGlobe Aviation and Adani Ports. Selling pressure in select financial and healthcare stocks kept the benchmarks under check.

Broader markets showed a mixed trend, with mid-cap and small-cap stocks lacking clear direction. Market participants remained cautious due to weak global cues and low participation ahead of the New Year holidays. Asian markets traded mixed, while overnight losses in US technology stocks also weighed on sentiment.

Meanwhile, the rupee traded slightly stronger against the US dollar, and commodity markets saw mild gains in gold and silver prices.

Market experts said the lack of strong triggers and low trading volumes are likely to keep markets range-bound in the near term. A clearer trend is expected to emerge only in the New Year, when institutional activity picks up and investors respond to fresh global and domestic cues.

Also Read: Sensex drops 346 points, Nifty 25,942

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Corporate

Sensex drops 346 points, Nifty 25,942

The markets fell sharply on Monday, 29 December 2025,  BSE Sensex dropped over 300 points, while the Nifty 50 slipped below 25,942, reflecting weak market sentiment and ongoing foreign fund outflows. Low trading volumes typical of the holiday season added to the volatility.

The decline was broad-based, with most sectors ending in the red. Consumer durables and realty stocks were hit hardest, dragging the market lower. The IT and financial services sectors also saw selling pressure, contributing further to the fall in benchmark indices.

However, a few stocks bucked the trend. Tata Steel, Titan, Sun Pharma, and Mahindra & Mahindra emerged as top gainers, showing resilience despite the overall market weakness. On the other hand, heavyweight companies such as PowerGrid, Adani Ports, HCL Tech, Infosys, and TCS were among the biggest losers, weighing on the indices.

Sectors like PSU banks and media stocks managed modest gains, but the positive impact was not enough to offset broad selling. Market breadth remained negative, with declining stocks outnumbering advancing ones, signaling caution among traders.

 Analysts expect trading to remain volatile in the final week of 2025, with selective stock-specific movements likely to drive gains.

Also Read: Sensex falls over 100 points, Nifty below 26,050 at open

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Zepto IPO to test quick‑commerce profitability

Bengaluru-based Zepto, a leading quick‑commerce platform promising 10‑minute grocery deliveries, has filed for a confidential IPO with SEBI, targeting a public listing in 2026. The company plans to raise around Rs 11,000 crore to strengthen operations and expand its network of over 900 “dark stores” across major cities.

Founded in 2021, Zepto has seen rapid revenue growth, but profitability remains a challenge. Analysts say the IPO will put the spotlight on cost structures, unit economics, and sustainability, as investors closely examine how Zepto competes with rivals such as Swiggy’s Instamart and Zomato’s Blinkit.

With more than $2 billion raised in private funding so far, including a $450 million round in October 2025 at a $7 billion valuation, Zepto is among India’s fastest-growing internet startups. Its entry into public markets is expected to influence investor perception of the quick‑commerce sector, highlighting both the potential and risks of ultra‑fast delivery models.

The IPO is likely to set benchmarks for pricing, profitability, and expansion strategies in the growing rapid‑delivery industry, which continues to attract significant consumer and investor attention.

Also Read: Ex‑Google founders pivot to AI, launch $100mn startup

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Gautam Adani inaugurates Sharad Pawar AI Centre in Baramati, Pune

Industrialist Gautam Adani on Sunday inaugurated the Sharadchandra Pawar Centre of Excellence in Artificial Intelligence in Baramati, Pune, marking a significant step toward strengthening India’s AI ecosystem.

The centre, established under Vidya Pratishthan, is designed as a research and training hub to build advanced AI capabilities and create industry-ready talent. Senior leaders, including Sharad Pawar, Supriya Sule, Ajit Pawar, and Sunetra Pawar, were present at the inauguration.

Addressing the gathering, Adani described Sharad Pawar as a mentor of over three decades and credited his leadership for transforming Baramati through education, cooperatives, and rural development. He said the region reflects what focused vision and sustained institution-building can achieve.

Emphasising the growing importance of artificial intelligence, Adani said India’s future growth will depend on its ability to develop indigenous AI models, data systems, and digital infrastructure, cautioning against excessive dependence on foreign technologies. He urged young Indians to take the lead in shaping the “age of intelligence.”

The new centre is expected to support advanced research, skill development, and practical AI applications, with a focus on linking innovation to real-world needs across sectors, including rural and emerging industries. The initiative positions Baramati as an emerging destination for technology-driven education and industry–academia collaboration.

Also Read: Andhra Pradesh clears Vedanta’s 20 onshore wells

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Sensex falls over 100 points, Nifty below 26,050 at open

The markets opened on a weak note on Monday where Sensex declined by over 100 points in early trade, while the Nifty 50 slipped below the 26,050 level, as selling pressure in select heavyweight stocks weighed on the benchmarks.

On the downside, Adani Ports and Power Grid emerged as the top losers at the opening bell, dragging the indices lower. Weakness was also seen in some infrastructure and utility stocks, reflecting subdued risk appetite among investors. Analysts attributed the early decline to the absence of strong domestic cues and continued concerns over foreign institutional investor outflows.

However, losses were partly capped by gains in metal stocks. Tata Steel and Hindalco traded higher in early deals, supported by buying interest amid firm global commodity prices. Select FMCG and auto stocks also showed mild strength, indicating selective accumulation at lower levels.

Broader markets opened mixed, highlighting cautious participation ahead of the year-end. Market participants said activity is likely to remain muted through the session, with indices expected to trade in a narrow range unless fresh global or domestic triggers emerge.

As such, the market tone remained cautious as investors focused on portfolio adjustments and awaited clearer signals in the final trading days of the year.

Also Read: Fibrebond CEO gives $240 mn to employees as bonus

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PNB flags ₹2,434 crore irregularities in SREI accounts

Punjab National Bank (PNB) has uncovered a massive loan fraud worth ₹2,434 crore linked to the former promoters of SREI Equipment Finance and SREI Infrastructure Finance. The bank reported the irregularities to the Reserve Bank of India (RBI), emphasizing the seriousness of the issue.

The fraud involves two major accounts: ₹1,241 crore in SREI Equipment Finance and ₹1,193 crore in SREI Infrastructure Finance. PNB has already made a 100% provision for the full amount, ensuring the bank’s books reflect the risk while protecting depositors.

These issues have been brewing for years. In 2021, the RBI had already stepped in, citing governance concerns and defaults, and took control of the boards of both SREI companies. Back then, both firms were facing insolvency proceedings under the Insolvency and Bankruptcy Code due to unpaid debts totaling ₹32,700 crore. In 2023, the National Asset Reconstruction Company Ltd (NARCL) took over the companies as part of the resolution process.

PNB’s disclosure may trigger investigations by law enforcement agencies, including the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), to determine how such a large-scale misuse of funds happened. Analysts believe other banks that had exposure to the SREI group may also come under scrutiny.

Interestingly, the bank made this announcement alongside its quarterly financial results, which showed a 14% rise in net profit to ₹4,904 crore for July-September 2025. While the profit and improved asset quality are positive signs, the loan fraud highlights ongoing challenges in monitoring and managing credit risks in India’s banking sector.

The case serves as a reminder of the importance of strong governance, careful oversight, and regular monitoring of large loans. For PNB, the incident is both a challenge and an opportunity to strengthen its risk management practices while reassuring customers and investors about the safety of their deposits.

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