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Markets On Home Turf
The NSE Nifty 50 slipped below the 26,000 mark, snapping a two-day gaining streak. The index ended 0.86% lower, down 225.90 points to 25,960.55. All sectoral indices closed in red throughout the course of the day's trade.
Interglobe Aviation Ltd. and Bharat Electronics Ltd. are the top losers in the Nifty index. Nifty Realty and Nifty PSU bank sectors bled the most during trade amid benchmarks outperforming broader market indices.
Kaynes fell over 10% for the second straight session. It along with Sterling and Wilson Ltd. were the top losers in Nifty Smallcap 250.
US Market Wrap
Wall Street jitters ended a four-day winning streak for US stocks, while Treasuries joined a global bond selloff ahead of the Federal Reserve’s final meeting of 2025. Although an interest-rate cut is widely expected, traders are increasingly uneasy about how quickly rates will be reduced next year.
The S&P 500 fell 0.3% on Monday after coming close to an all-time high. A flurry of merger activity failed to lift sentiment after President Donald Trump flagged possible antitrust issues with Netflix Inc.’s planned acquisition of the Hollywood studios and streaming assets of Warner Bros. Discovery Inc. Meanwhile, Paramount Skydance Corp. launched its own hostile bid.
US equities had rallied in recent weeks as several Fed officials signaled plans to cut rates for a third consecutive time on Wednesday.
Asian Market Wrap
Asian stocks edged lower on Tuesday as traders grew increasingly concerned about the Federal Reserve’s pace of monetary easing beyond this week’s widely expected rate cut.
MSCI Inc.’s index of regional equities slipped 0.2%, with benchmarks in Korea, Japan, and Australia opening in the red.
Chipmakers were in the spotlight after Nvidia Corp. received approval from President Donald Trump to export its H200 artificial intelligence chip to China in return for a 25% share of the sales. Nvidia’s shares rose in after-hours trading.
Commodity Check
Oil prices stabilised after their sharpest decline in nearly three weeks, as traders await key reports this week to gauge the size of the supply glut.
West Texas Intermediate hovered near $59 a barrel following Monday’s 2% drop, while Brent settled above $62. The Energy Information Administration will release its Short-Term Energy Outlook on Tuesday, with additional reports expected from the International Energy Agency and OPEC later in the week.
The IEA has forecast a record surplus for next year, and markets will be watching for any revisions to outlooks. Crude has remained in a narrow $4-a-barrel range since early November, with investors also weighing the impact of sanctions on Russia and potential export curbs.
India, the largest buyer of seaborne Russian crude, plans to scale back purchases, a move likely to feature prominently in trade talks with the US this week.
Stocks In News
Mindspace REIT: The company approves fundraise worth Rs 1,200 crore via NCDs.
Welspun Corp: The company’s arm signs Rs 1,165 crore contract with Saudi Water Authority to supply steel pipes.
Shriram Finance: The board approves allotment of 7,500 NCDs to raise Rs 150 crore on a private placement basis, including a green shoe option of Rs 100 crore.
ICICI Bank: The bank executes share purchase pact to buy 2% stake in ICICI Prudential AMC for Rs 2,140 crore.
IndiGrid: The board approves fundraise worth Rs 1,000 crore via rights and preferential issue.
ITC Hotels: Three entities sell a total 8.98% stake in the company; Tobacco Manufacturers, Myddleton Investment, and Rothmans International reduce combined shareholding to 6.26% post stake sale.
G R Infra: The company gets provisional completion certificate for part of Vadodara-Mumbai Expressway.
Punjab National Bank: The bank gets penalty of Rs 15 crore from Appellate Tribunal under SAFEMA.
UGRO Capital: The company acquires 100% stake in Profectus Capital.
R R Kabel: Vivek Abrol resigns as Chief Executive Officer for FMEG Business effective Jan. 15, 2026.
Siemens: The board approves sale of low voltage motors operations to Innomotics India for Rs 2,200 crore.
Arvind Fashions: Anand Aiyer resigns as CEO for Brand Arrow due to personal reasons effective Jan. 9, 2026; Nitesh Kanchan appointed as CEO for Brand Arrow effective Jan. 1, 2026.
L&T: The board approves transfer of realty business undertaking to arm L&T Realty Properties via slump sale.
Tembo Global Industries: The board approves allotment of 4.4 lakh shares worth Rs 21.6 crore to non-promoter category.
Authum Investment: The board approves allotment of 90 lakh non-cumulative non-convertible redeemable preference shares worth Rs 900 crore.
IndiGo: The company highlights key operational updates for Dec. 8, 2025; over 1,800 flights operated (up from 1,650 on Dec. 7) with 90% on-time performance across the network coverage. Moody’s has downgraded IndiGo's issuer category score for human capital to 4 from 3, reflecting the adverse impact of slower hiring on the airline's operations.
IIFL Finance: The board to meet on Dec. 11 to consider fundraise via NCDs on private placement basis.
Physicswallah: The board approves third tranche of stake acquisition in Utkarsh Classes & Edutech; to acquire 25,599 shares for Rs 26.5 crore, increasing shareholding to 75.5% post-acquisition.
Bajaj Finserv: The company reported Bajaj General Insurance Nov. gross direct premium underwritten at Rs 3,999 crore; Bajaj Life Insurance Nov. total premium at Rs 1,087 crore.
Sambhv Steel Tubes: The company approves expansion plan for manufacturing of stainless-steel cold rolled coils & pre-galvanised coils; proposed investment to be Rs 50 crore.
HLE Glascoat: The company gets approval from BSE & NSE for listing and trading of fully paid-up equity shares of Rs 2 each pursuant to the Scheme of Amalgamation of Kinam Enterprise, effective tomorrow.
Physicswallah: The company approves total investment of around Rs 488 crore in multiple subsidiaries; Rs 400 crore in arm Penpencil Edu Services, Rs 20 crore in arm Finz Fintech, Rs 50 crore in arm Finz Finance, and $2 million in arm Knowledge Planet Holding.
Reliance Power: The company approves reclassification of Reliance Capital from promoter group of the company to public category.
UFLEX: The company launches ‘Project Plastic Fix’—a four-way method to reinstate the virtue of plastic from waste to wealth.
TCC Concept: The company approves allotment of 1 crore shares on preferential basis worth Rs 592 crore to Pepperfry.
Business Updates
November Business Update - Mahindra & Mahindra
Total Production up 18.4% at 96,196 units vs 81,239 units
Total Sales up 19.6% at 91,839 units vs 76,797 units
Total Exports up 8.4% at 3,063 units vs 2,825 units
Total XUV3XO (Petrol) Sales up 14.8% at 6,930 units vs 6,037 units
Total XUV700 (Petrol) Sales down 29.6% at 1,642 units vs 2,332 units
Total Thar + Thar Roxx (Petrol) Sales up 5.5% at 865 units vs 820 units
Earning In Focus
Q2 Earnings - Fujiyama Power (YoY)
Revenue up 72.6% at Rs 567.9 crore vs Rs 329.1 crore
Ebitda up 105.4% at Rs 103 crore vs Rs 50.1 crore
Margin at 18.1% vs 15.2%
Net Profit up 97.2% at Rs 62.9 crore vs Rs 31.9 crore
Q2 Earnings – Physicswallah ( Cons , YoY)
Revenue up 26.3% at Rs 1,051 crore vs Rs 832 crore
Ebitda up 35.1% at Rs 181 crore vs Rs 134 crore
Margin at 17.2% vs 16.1%
Net Profit up 62.4% at Rs 72.3crore vs Rs 44.5 crore
IPO Offerings
Wakefit Innovations : The company is an emerging leader in Mattress, Furniture and Furnishings with PAN India presence The public issue was subscribed to 0.15 times on day 1. The bids were led by Qualified institutional investors (0 times), non-institutional investors (0.07 times), retail investors (0.73 times)
Corona Remedies: The company is engaged in developing, manufacturing, and marketing products in women’s healthcare, cardiology, pain management.The public issue was subscribed to 0.62 times on day 1. The bids were led by Qualified institutional investors (0 times), non-institutional investors (0.79 times), retail investors (0.87 times)
Bulk And Block Deals
Bulk Deals
Welspun Enterprises: Welspun Group Master Trust bought 7.5 lakh shares at Rs 516.11 per share, amounting to Rs 38.71 Cr.
Trading Tweaks
Price band changed from 20% to 10%: Kesoram Industries
List of securities shortlisted in Short Term ASM Framework: Sar Televenture, Eldeco Housing
List of securities shortlisted in Long -Term ASM Framework: Axita Cotton Limited
F&O Cues
Nifty Dec futures is down 1.08 % to Rs 26,065 at a premium of 105 points
Nifty Dec futures open interest up by 8.49%
Nifty Options 18 Nov Expiry: Maximum Call open interest at 26,500 and Maximum Put open interest at 26000.
Securities in Ban: Bandhan Bank, Kaynes, Sammaancap
Currency Update
The Rupee closed 10 paise weaker at 90.09 against US Dollar. It closed at 89.99 a dollar on Friday. The yield on the 10-year bond ended five basis points higher at 6.52.
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