Category: Corporate

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Corporate

Japan’s JFE Steel, JSW Steel form ₹15,750 cr Bhushan Power JV

Japanese steel major JFE Steel is investing ₹15,750 crore to acquire a 50% stake in a new joint venture with JSW Steel, focused on running the Bhushan Power & Steel Ltd. (BPSL) business. The deal marks a significant step for both companies in strengthening India’s steel sector while unlocking growth potential for JSW.

Under the agreement, BPSL’s integrated steel plant in Odisha, along with its associated iron‑ore mine, will be transferred to the JV through a “slump sale.” The total valuation of these assets is estimated at around ₹24,483 crore, with JFE’s investment planned in two tranches.

JSW Steel acquired BPSL in 2021 when the company was distressed. Since then, the plant’s crude steel capacity has expanded from 2.75 million tonnes per year to 4.5 million tonnes, supporting roughly 25,000 jobs. With the new JV, the aim is to further increase production to 10 million tonnes per year by 2030, combining JSW’s operational expertise with JFE’s technical strengths in steelmaking.

For JSW, the partnership is also strategically important. The cash inflow and the transfer of debt will help de-leverage its balance sheet, providing financial flexibility for future growth while sharing risk with a global partner. Analysts view the move as a smart way to unlock value and strengthen JSW’s position in the market.

The collaboration builds on a long-standing alliance between JSW and JFE that began in 2009. As India’s steel demand grows, the partnership positions both companies to capitalize on opportunities while ensuring the BPSL plant achieves its full potential.

In the coming months, attention will be on the completion of the asset transfer and the gradual ramp-up of production at BPSL. The JV is expected to play a key role in shaping the future of steel manufacturing in India, balancing expansion with financial prudence and long-term strategic growth.

Also Read: Cipla, Stempeutics unveil first stem‑cell therapy for knees

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Corporate

Cipla, Stempeutics unveil first stem‑cell therapy for knees

Cipla, in collaboration with Stempeutics Research, has launched a new stem‑cell therapy for knee osteoarthritis called Ciplostem. The therapy is designed to slow joint degeneration and help maintain cartilage health in patients with Grade II or III knee osteoarthritis.

Ciplostem is a ready‑to-use injection containing 25 million cultured bone‑marrow derived mesenchymal stem cells along with hyaluronic acid. Administered directly into the knee joint, it works at the cellular level to reduce inflammation and pain while improving joint function.

Unlike conventional treatments such as painkillers, physiotherapy, or lubricating injections that only relieve symptoms temporarily, Ciplostem targets the root cause of degeneration. The therapy has been developed after extensive clinical research and trials, offering a new regenerative option for patients seeking long-term relief from knee osteoarthritis.

This launch marks a significant step in India’s regenerative medicine landscape, providing a treatment that addresses the underlying joint damage rather than just managing pain.

Also Read: NTT to spend ₹2,400 crore in Bengaluru data‑centre campus

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Corporate

NTT to spend ₹2,400 crore in Bengaluru data‑centre campus

NTT Data Group, the Tokyo-based IT giant, is investing ₹2,400 crore to build a major data‑centre campus near Bengaluru International Airport in Devanahalli. The new campus, spread over eight acres, will eventually host three high-tech data‑centres, making it one of the largest facilities of its kind in southern India.

The first facility, Bengaluru 4A, is already operational, offering an IT load capacity of 22.4 MW and a data-hall capacity of 3.2 MW. Once all three centres are completed, the campus will have a total facility load of about 100 MW and a critical IT load of roughly 67.2 MW. The entire setup will be powered by a dedicated 220 kV power substation, ensuring stable and reliable operations for enterprise and cloud clients.

This project raises NTT’s total investment in Bengaluru to nearly ₹4,100 crore, reflecting the growing demand for cloud computing, artificial intelligence, and digital infrastructure in India. NTT already operates 22 data‑centres across the country, including locations in Mumbai, Pune, and Chennai, and the new campus strengthens its southern footprint significantly.

The step is strategically aimed at supporting enterprises and startups that rely on high-density digital infrastructure. With the rise of AI-driven businesses and data-intensive applications, companies increasingly need local, reliable, and scalable data‑centre facilities. The Bengaluru campus positions NTT to meet these evolving needs efficiently.

Looking ahead, NTT plans to continue expanding the campus, while also exploring opportunities to grow its data-centre footprint beyond tier-1 cities. The company sees Bengaluru as a critical hub for innovation and enterprise technology, and this investment reinforces its commitment to India’s fast-growing digital ecosystem.

By combining large-scale capacity with advanced technology, NTT aims to provide seamless services to clients across cloud, AI, and enterprise sectors, helping India emerge as a hub for digital growth in the region.

Also Read: IndiGo cancels 100+ flights, DGCA probes

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Corporate

Rupee hits ₹90, consumer goods may get costlier

The Indian rupee has breached the ₹90 mark against the US dollar, trading at around ₹90.40 per dollar in early December, marking a record low for the domestic currency. Analysts point to multiple factors behind the slide, including increased demand for dollars due to heavy imports, foreign institutional investors withdrawing funds from Indian markets, and the persistent trade deficit.

The fall in the rupee is expected to directly impact companies that rely on imported raw materials, components, or finished goods. This includes sectors such as electronics, automobiles, beauty and personal care, and other consumer goods. For example, smartphone makers, appliance companies, and car manufacturers are likely to face higher input costs, forcing them to either absorb the expenses or pass them on to consumers. Several firms have already indicated price hikes of 3%–10% in the coming weeks.

For consumers, this could mean higher prices for products they regularly buy. Goods that had become slightly cheaper recently due to GST or other tax reductions may now see cost increases, reversing earlier benefits. Electronics and cars are expected to be hit hardest, followed by imported cosmetics, luxury items, and certain packaged foods that rely on imported ingredients.

Economists warn that the currency depreciation may also contribute to overall inflationary pressures, as import-dependent sectors adjust their pricing. In addition, companies with overseas borrowings may face higher debt servicing costs, potentially affecting profits and investment plans.

Some analysts believe that the rupee may continue to face pressure in the near term, especially if crude oil prices remain high or foreign fund outflows persist. While exporters may benefit from a weaker rupee, the broader impact on consumer prices and corporate margins is expected to be negative.

The government and the Reserve Bank of India (RBI) are monitoring the situation, but immediate intervention may be limited as the rupee reflects underlying global and domestic economic trends. Consumers may need to prepare for higher costs on imported and semi-imported goods, while companies weigh how much of the cost they can absorb without hurting demand.

Also Read: Gold ₹13,000 per gram, Silver ₹1.91 lakh per kilogram

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Sensex gains 100 points, Nifty steady above 26000 after early dip

Indian markets opened weak on Thursday, with the Sensex slipping nearly 100 points to around 85,013 and the Nifty falling below 26,000 to about 25,956 in early trade. The decline came after the rupee hit a fresh record low against the US dollar, triggering cautious sentiment and continued selling by foreign investors.

As the session progressed, the market recovered part of its early losses, supported by buying in IT, metal and banking stocks. Key gainers included Wipro, TCS, ICICI Bank, Hindalco and HDFC Bank, all rising between 1% and 1.8%, helping lift overall sentiment.

However, the broader market remained mixed. Several stocks extended losses, with Max Healthcare, Adani Enterprises and Bharat Electronics falling around 2–3%, reflecting pressure on mid- and small-cap segments.

Analysts say volatility is likely to continue as long as the rupee remains weak and foreign outflows persist. While export-linked sectors may benefit from the currency slide, the overall market mood remains cautious, and traders are expected to stay selective until clearer policy cues emerge.

Also Read: Sensex 85,102 down 32 points, Nifty 25,986 slips 46 points

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Corporate

Sensex 85,102 down 32 points, Nifty 25,986 slips 46 points

Indian equity markets ended slightly lower on December 3, weighed down by the rupee hitting a fresh record low and continued foreign fund outflows. The BSE Sensex closed at 85,102, down 31.5 points, while the Nifty 50 ended at 25,986, down 46.2 points, snapping short-term gains from the previous session. Market volatility remained elevated, with early selling pressure offset partially by late buying in select sectors.

Broader markets continued to underperform, with the midcap and small-cap indices declining between 0.7% and 0.9%. Sectorally, the market saw widespread weakness. Auto, energy, FMCG, metals, oil & gas and consumer durables were among the top laggards, registering losses in the range of 0.5% to 1.5%. Analysts attributed the decline to concerns over rising import costs triggered by the sliding rupee, as well as cautious positioning ahead of the Reserve Bank of India’s monetary policy decision later this week.

Under the loom of weakness, a few pockets provided some relief. IT stocks such as Wipro and TCS, along with private banking names like Axis Bank, closed in the green, supported by stable earnings outlooks and defensive buying. These gains helped soften what could have been a sharper fall for the benchmarks.

Overall, the market mood stayed cautious. Traders expect near-term movement to remain range-bound, with global cues, rupee stability and the RBI’s commentary likely to dictate direction. Investors are advised to stay selective, particularly in IT and defensives, while maintaining caution in rate-sensitive and high-valuation segments.

Also Read: Sensex falls 250 Points, Nifty slips 80 as markets turn cautious

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Corporate

Aequs IPO sees 7–11× retail demand on opening day

Aequs Limited IPO opened for subscription on December 3 and received an extremely strong response from investors. The issue, worth ₹921.8 crore, was fully subscribed within just a few hours of opening. Most of the demand came from retail investors, who oversubscribed their portion by several times.

Aequs is an aerospace-parts manufacturer that supplies precision components to major global companies, including Airbus and Boeing. The company is known for operating a large, fully integrated aerospace manufacturing facility in Karnataka.

The price band for Aequs IPO is ₹118 to ₹124 per share. At this price, the company’s market value works out to about ₹8,316 crore. The issue includes a fresh issue of ₹670 crore and an offer-for-sale of ₹251.8 crore.

Market watchers say that the IPO has been attracting a strong grey-market premium (GMP), with some reports indicating a possible listing gain if market sentiment remains positive. Analysts say interest is high because India is becoming an important location for aerospace manufacturing, and Aequs is one of the few companies offering end-to-end production capabilities in this sector.

However, they also point out that the company has seen a dip in overall revenue recently, mainly due to weakness in its consumer products division. Even so, many believe the long-term outlook for Aequs’s core aerospace business remains strong.

The funds raised from the fresh issue will be used to repay debt, expand capacity, and support future growth plans.

The IPO will remain open for subscription until December 5.

Also Read: Meesho IPO fully subscribed on Day 1

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Corporate

Meesho IPO fully subscribed on Day 1, GMP ₹49

Meesho, the social commerce platform, saw its initial public offering (IPO) fully subscribed on the first day of trading on 3 December 2025. The IPO drew strong interest, especially from retail investors, who accounted for the largest share of demand.

The IPO was priced between ₹105 and ₹111 per share, with each lot comprising 135 shares. By the end of Day 1, the retail portion was subscribed 3.1 times, while non-institutional investors (NIIs) applied for 1.23 times their allocation. Qualified institutional buyers (QIBs) showed limited interest, subscribing only 0.16 times.

In the grey market, Meesho shares traded at a premium of ₹49, indicating a potential listing price of around ₹160 per share. This points to a possible 44% gain for early investors if the stock opens at the grey market price.

Meesho has established itself as a low-cost, high-volume e-commerce platform targeting value-conscious customers, particularly in smaller cities and towns. The company has achieved cash-flow positivity in FY25, although it is not yet profitable overall. Analysts say Meesho’s large user base and high transaction volume give it strong growth potential, but consistent profitability will be key for long-term success.

Brokerages and market experts generally recommend subscribing for the IPO, citing Meesho’s scale and market position. At the same time, they advise caution, as the company’s ability to convert growth into profits remains uncertain.

Meesho’s IPO has generated strong investor interest, driven mainly by retail demand and buoyed by a high grey market premium. The debut highlights the popularity of e-commerce platforms in India and reflects investor confidence in companies with rapid growth and a wide market reach.

Also Read: AI leader Anthropic prepares for possible IPO in 2026

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AI leader Anthropic prepares for possible IPO in 2026

Anthropic, the artificial-intelligence company behind the Claude chatbot, is preparing for a potential initial public offering (IPO) that could take place as early as 2026. The company has begun formal groundwork by hiring a top US law firm to manage the regulatory and legal aspects of a future listing.

It has also held informal discussions with major global investment banks, signalling growing interest in tapping public markets. However, no underwriters have been finalised so far.

The stepcomes at a time when demand for advanced AI services is rising sharply across industries. An IPO would provide Anthropic with significant capital to accelerate expansion, fund large-scale infrastructure, and pursue strategic acquisitions. The company, founded in 2021, has grown rapidly and now counts more than 300,000 business and enterprise clients using its AI tools.

Anthropic is also negotiating a private funding round that could value the company at over $300 billion, reflecting strong investor confidence in its technology roadmap and enterprise adoption. Internally, the company expects its annualised revenue run rate to more than double next year, with projections indicating a possible jump to $26 billion. This places Anthropic among the fastest-scaling companies in the generative AI sector.

Despite these developments, the company has clarified that no final decision has been made about when or whether it will go public. Executives have indicated that the focus remains on strengthening core products, expanding in key global markets, and improving safety and reliability standards for AI deployment.

If Anthropic does pursue an IPO, it is likely to become one of the largest listings in the history of the AI industry, especially as competition intensifies among major players. The move would also offer the public markets a closer look at the financial performance and long-term business model of a leading AI developer at a time when the sector’s commercial potential is rapidly evolving.

Also Read: RBI’s monetary policy meeting begins, rate cut expected

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RBI’s monetary policy meeting begins, rate cut expected

The Reserve Bank of India (RBI) has kicked off its three-day Monetary Policy Committee (MPC) meeting in Mumbai, which will conclude on Friday, December 5, with an announcement on the key repo rate. The repo rate is the interest rate at which banks borrow from the RBI, and any change can affect borrowing costs for businesses and households.

India’s economy is showing strong growth momentum. The country’s GDP for the second quarter of the current financial year rose around 8.2%, indicating robust economic activity. At the same time, inflation has cooled to historically low levels. Consumer price inflation in October fell to about 0.25%, the lowest in years. This combination of high growth and low inflation is unusual and gives the RBI room to potentially cut rates without worrying about fueling prices.

Experts are divided on what the RBI will do. Some economists believe a rate cut is likely, citing low inflation and strong growth. Lower interest rates could encourage borrowing, boost spending, and further support economic expansion. On the other hand, some analysts argue that the RBI may hold the rate steady at 5.50%, pointing out that the economy is already performing well and may not need additional stimulus.

Markets are closely watching the MPC discussions. A rate cut could lower EMIs on home and personal loans, reduce borrowing costs for businesses, and stimulate credit demand. A decision to pause, however, would signal that the central bank believes the current monetary stance is sufficient to maintain growth and price stability.

The MPC’s final decision will be announced on Friday by RBI Governor, who will also give insights on the bank’s outlook for inflation, growth, and liquidity. This meeting is being closely monitored by investors, banks, and borrowers, as it will influence credit costs, investment decisions, and overall market sentiment.

With India’s economy performing strongly yet inflation remaining subdued, the RBI faces a delicate balance,  supporting growth while keeping prices in check. Friday’s decision will provide clarity on the direction of monetary policy for the coming months.

Also Read: Adani plans $15 billion airport expansion across India