Stock Market Today: All You Need To Know Going Into Trade On Dec. 8

Good morning!

On Friday, Indian equities moved up sharply, buoyed by the Reserve Bank of India's monetary policy decision to cut the repo rate by 25 basis points. At the close, the BSE Sensex settled at 85,712.37, gaining 447.05 points or 0.52%, while the Nifty 50 ended at 26,186.45, up 152.70 points or 0.59%.

Sectoral performance was broadly positive, with notable strength seen in Nifty PSU Bank, IT, Auto, and Metal indices. However, Media, Pharma, and Consumer Durables emerged as the key laggards, witnessing mild profit-booking.

On the broader market front, the Nifty Midcap 100 moved in line with the benchmark, closing 0.49% higher, whereas the Nifty Small cap 100 came under pressure and ended 0.57% lower, indicating selective participation in the rally.

The exodus of foreign capital, coupled with uncertainty around the US-India trade deal, pulled the rupee below 90 against the US dollar for the first time this week. The local currency has depreciated by 5% so far this year, the worst among Asian peers.

US and European index futures are trading higher during Asian trading hours.

• S&P 500 futures up 0.06%

• Euro Stoxx 50 futures flat

US stocks edged higher on Friday but failed to break into record territory, as investors stayed cautious ahead of the Federal Reserve’s interest-rate decision due next week. Treasury markets, meanwhile, endured their worst week since June.

The S&P 500 posted modest gains and is still hovering just below its October all-time high. The Nasdaq 100 climbed 1% over the week, while the Russell 2000, which tracks smaller companies, slipped back after ending Thursday at a record. Treasury selling continued, pushing the 10-year yield up about four basis points to 4.14%.

Asian stocks opened the week on a tentative footing as investors weighed rising tensions between China and Japan, a packed calendar of central bank decisions, and the broader outlook for risk assets into next year.

MSCI Inc.’s Asia equity index slipped 0.1%, tracking losses in US stock futures. Australian shares also moved lower, while Japan’s Nikkei 225 fell 0.4%. Caution was further reinforced by fresh data showing Japan’s economy contracted in the three months to September, according to revised government figures, even as diplomatic ties with China showed further signs of strain.

Oil prices were largely steady as traders kept a close watch on India’s purchases of Russian crude and ongoing Ukrainian strikes on Russia’s energy infrastructure. Brent hovered below $64 a barrel after logging its first consecutive weekly gain since August, while West Texas Intermediate traded near $60. (Bloomberg)

Silver stayed close to a record high, supported by the strongest weekly inflows into silver-backed exchange-traded funds since July. The metal edged up to about $58.50 an ounce, within a dollar of its all-time high set in the previous session. ETF holdings jumped by nearly 590 tons last week, signaling sustained investor confidence in the rally. Gold, meanwhile, was largely flat, reports Bloomberg.

• Thirumalai Chemicals: The company said its maleic anhydride unit outage will extend longer than expected. The machinery failure earlier assumed rectification remains unresolved, leading to an estimated Rs 118 crore revenue hit in FY26, while the segment contributed around Rs 235 crore in FY25.

• Dynamatic Technologies: The company announced a pact with Dassault Aviation to build the complete rear fuselage for the Falcon 6X, positioned as Dassault’s newest business jet.

• Biocon: The company approved raising up to Rs 4,500 crore via QIP across tranches and said it will integrate Biocon Biologics to create a unified global biopharmaceutical platform. It will acquire remaining stakes in Biocon Biologics from Serum, Tata Capital and Activ Pine through a swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, and will also purchase Mylan Inc’s residual stake for USD 815 million. Proceeds from the Rs 4,500 crore QIP will primarily fund the cash component payable to Viatris. The company announced Shreehas Tambe as MD and CEO and Kedar Upadhye as CFO of the combined entity, while current MD and CEO Siddharth Mittal will shift to a group role.

• Cochin Shipyard: The company secured a significant European order to build advanced electric ‘TRAnsverse’ tugs.

• UNO Minda: The company executed the termination of its joint venture with its German partner Uno Minda Buehler.

• MTAR Technologies: The company secured Rs 194 crore in civil nuclear orders forming part of the confirmed Rs 504 crore package for the Kaiga 5 and 6 reactors.

• Renaissance Global: The company’s arm Verigold Jewellery FZCO established a wholly owned subsidiary in Dubai.

• Jayaswal Neco: The company approved raising up to Rs 1,800 crore via NCDs.

• Ashiana Housing: The company received an income tax demand of Rs 5.25 lakh related to TDS on lease rentals.

• Persistent Systems: The company acquired 100% of Aepona Group through its US arm for EUR 13.87 million.

• Bansal Wire: The company said FY22 GST demand has been reduced to Rs 92.90 lakh from Rs 99.62 crore.

• HFCL: The company received an order worth Rs 656 crore for supply of optical fibre cables.

• ICICI Bank: The company said ICICI Prudential AMC set its IPO price band at Rs 2,061–2,165 per share.

• Karur Vysya Bank: The company revised its repo-linked external benchmark rate to 8.55% from 8.80%.

• Ashoka Buildcon: The company received an additional Rs 447 crore work order from BMC for a flyover project, taking total project cost to Rs 1,574 crore.

• ONGC: The company said its board has reappointed Arun Kumar Singh as chairman and CEO for one more year effective Dec. 7.

• ICICI Prudential AMC: The company filed its Red Herring Prospectus on Dec. 5 for the IPO, will offer 4.9 crore shares including 24 lakh shares reserved for ICICI Bank shareholders, with the issue opening on Dec. 12 and closing on Dec. 16, and anchor subscription beginning on Dec. 11.

• Infosys: Shareholders approved the merger of its step-down arms Infosys Romania and ProIT S.R.L RO Romania as part of its internal restructuring. The company also received a GST penalty order amounting to Rs 23 lakh.

• IndiGo: The company said the article’s claim on flight cuts is inaccurate and that it is steadily restoring operations by reducing cancellations, improving schedules and prioritising customer support, refunds and timely updates with airport partners. Cancellations have dropped below 850 flights. The company said it is restoring stability by rebooting operations, scaling flights back to 1,500 today, re-establishing over 95% of its network and working to rebuild customer trust.

• Landmark Cars: The company said it has received approval from BYD India to open a showroom and a workshop in Pune.

• Tata Teleservices: The company received two demands from the Department of Telecommunications in Maharashtra, including penalties of Rs 29.3 lakh and Rs 4.4 crore for alleged non-compliance with subscriber verification norms.

• CreditAccess: The company said its board will meet on Dec. 10 to consider a fundraise through bonds.

• Emmvee Photovoltaic: The company said its arm Emmvee Energy has paid Rs 212 crore for land allotment in Karnataka for a 6 GW integrated solar module and cell manufacturing facility.

• Hindustan Zinc: The company received a GST demand of Rs 19.59 lakh for FY22.

• SPML Infra: The company said its JV has secured a Rs 207 crore order under the Jal Jeevan Mission to augment water supply in Rajasthan.

• Symphony: The company said the NCLT has dismissed its plea related to share rectification.

• Omaxe: The company received RERA approval valid till June 2030 for its commercial and residential project in Punjab.

• NBCC: The company concluded an e-auction of 175 residential units in Noida with total sales of nearly Rs 485 crore.

• Punjab National Bank: The company received a Rs 15.4 crore penalty order from the SAFEMA Appellate Tribunal.

• Mukka Proteins: The company said its JV, in which it holds 76%, has won a Rs 475 crore order for scientific treatment of legacy leachate from the Bengaluru Solid Waste Management department.

• Punjab National Bank: The bank cut its repo-linked lending rate to 8.10% from 8.35%, while keeping MCLR and base rate unchanged.

• India Pesticides: The company received approval for registration of a herbicide formulation in Serbia.

• Sasken Technologies: The company received a GST demand order of Rs 20.75 crore including interest and penalty.

• Apeejay Surrendra Park: The company received a GST penalty of Rs 33.1 lakh for FY22.

• Vedanta: The company received a GST penalty of Rs 19.6 lakh due to ineligible input tax credit for FY22.

• Bajaj Healthcare: The company said the Gujarat High Court has quashed its GST demand order dated Oct. 29, 2024.

• RailTel Corporation: The company was appointed by the MEA as the project implementing agency for procuring 2,000 AI-enabled laptops valued at an estimated Rs 14.4 crore.

• Info Edge: The company said PB Fintech has allotted 2.99 crore shares representing 6.5% equity to it, taking its total holding to 12.43%.

• Adani Enterprises: The company has incorporated a wholly owned subsidiary named Adani Skills and Education.

• Madhya Bharat Agro Products: The company has signed a domestic selling and marketing agreement with Green Agrevolution (DeHaat) to distribute agri-inputs through its network with no upfront payment and potential meaningful revenue contribution.

• Medplus Health Services: The company’s arm’s store has received a 25-day drug licence suspension under the Drugs and Cosmetics rules, with an estimated revenue impact of about Rs 5.87 lakh.

• Authum Investment and Infrastructure: The company has allotted 40 lakh NCRPS worth Rs 400 crore to its promoter Mentor Capital on a private placement basis.

• Fino Payments Bank: The Reserve Bank of India granted in-principle approval to the bank for its conversion into a small finance bank. This is the first payments bank to transition to a small finance bank. Fino Payments Bank applied for a small finance bank licence in Oct.–Dec. 2023.

• Dabur India: Received BSE’s no adverse observations for its merger with Sesa Care.

• Shriram Finance: Appointed Parag Sharma as the new MD and CEO.

• IOL Chemicals and Pharma: Received EDQM approval for its minoxidil API for hair-loss treatment.

• CEAT: The company received board approval to raise up to Rs 250 crore via NCDs.

• Religare Enterprises: The company received approval to allot 19.86 lakh shares worth Rs 35 crore on warrant conversion.

• Stanley Lifestyles: The company received approval appointing Abhijeet Sonar as CEO of its retail arm.

• Choice International: Allotted 79.88 lakh shares for Rs 179.72 crore, including 66.67 lakh to Plutus Wealth and 13.21 lakh to Soansrishti Properties.

• Apollo Tyres: The company received a Madras High Court order cancelling the Rs 279.1 crore GST demand.

• Niva Bupa, Star Health: Reported strong growth in Nov.

• Bank of India: Cut repo-based lending rate by 25 basis points to 8.1%.

• Quess Corp: The board promoted Lohit Bhatia to CEO effective Jan. 1, 2026. The board appointed Guruprasad Srinivasan as ED effective Jan. 1, 2026 and appointed Neeraj Jain as CFO.

• Apollo Tyres: The Madras High Court quashed proceedings in the case initiating a tax demand of Rs 279 crore and dropped the demand.

• Biocon: The company’s arm received USFDA tentative approval for carbidopa and levodopa capsules, indicated for treatment of Parkinson’s disease.

• Supreme Petrochem: Manufacturing operations at the Chennai plant were temporarily stopped after water entered the premises, resulting in flooding.

• NTPC: The company’s arm NTPC Green incorporated its JV company Chhattisgarh NTPC Green Energy.

• Linde India: Neeraj Kumar Jumrani resigned as CFO effective Feb. 15, 2026.

• GR Infraprojects: Executed a pact for a Rs 290 crore project to construct the Giridih bypass road in Jharkhand.

• BLS International: The company’s arm acquired 100% stake of BLS International LLC in the Republic of Armenia.

• Authum Investment and Infra: Incorporated a wholly owned subsidiary, Authum Foundation.

• Panorama Studios International: Received worldwide theatrical and non-theatrical rights of a Malayalam-language film tentatively titled Drishyam 3.

• PC Jeweller: Received approval from the UP government to onboard as a franchise brand on the CM-YUVA Portal.

• Torrent Pharma: Acquired 1,317 shares of J.B. Chemicals and Pharma in an open offer at Rs 1,639.18 per share.

• Zen Technologies: Received a Rs 120 crore order from the Defence Ministry to set up India’s first combat training node in Madhya Pradesh.

• Hubtown: The company got board approval to issue 1.4 crore shares to non-promoters.

• Jubilant Foodworks: The company’s tax demand was cut to Rs 190 crore from Rs 216 crore.

• Angel One: The company said a Cloudflare glitch affected web access, but mobile apps ran normally.

• Reliance Infra: The company said operations are normal and that ED-attached assets belong to Reliance Comm, which has not been part of the group since 2019.

• ONGC: The board approved re-employment of Arun Kumar Singh as chairman for a further one year.

• Aditya Vision: A fire incident occurred at one of the company’s warehouses in Bihar and operations were temporarily disrupted.

• Reliance Power: The company said the enforcement directorate has filed a supplementary prosecution complaint against it and its subsidiaries in the SECI bank-guarantee matter, naming Reliance NU BESS, Rosa Power Supply, Manoj Bhaiyasaheb Pongde and other third parties.

• Billionbrains Garage Ventures : The company updates on Groww platform outage was caused by a global Cloudflare glitch, services are fully restored, and there is no material impact

• Krishana Phoschem: The company has signed a selling and marketing pact with Green Agrevolution for distributing agri-inputs through DeHaat’s network and expects meaningful revenue contribution from the arrangement.

• Delhivery: The company has completed successful testing of an autonomous logistics drone in Deoria, enabling faster high-speed rural connectivity.

• Ola Electric: The company said it has begun mass deliveries of vehicles powered by its 4680 Bharat Cells.

• Sai Silks: The company has opened its 75th store under Kanchipuram Varamahalakshmi Silks format, located at Mysore.

• Travel Food Services: The company updates that CBI has filed an FIR alleging irregularities in the 2012–13 Chennai and Kolkata airport F&B tenders, naming two erstwhile subsidiaries now merged into the company.

• Medplus Health : The company’s arm has received a two-day drug-license suspension under the Drugs & Cosmetics rules, with an estimated revenue impact of about Rs.0.87 lakh.

• P N Gadgil Jewellers: The company has opened a new store at Kankarbagh Main Road, Patna, Bihar. Total number of stores now stands at 65.

• PG Electroplast: The company states that the HDFC Sky article includes incorrect and unverified claims, and confirms that its disclosures and financials are fully compliant and accurate.

• Non-life insurers’ premium up 22% at Rs 22,418 crore (YoY)

• Bajaj General Insurance premium up 193% at Rs 3,999 crore (YoY)

• The New India Assurance premium up 11% at Rs 2,780 crore (YoY)

• ICICI Lombard General premium up 7% at Rs 2,187 crore (YoY)

• Go Digit General premium up 20% at Rs 781 crore (YoY)

• Standalone health insurers up 36% at Rs 3,709 crore (YoY)

• Star Health premium up 19.6% at Rs 1,460 crore (YoY)

• Niva Bupa Health premium up 47% at Rs 738 crore (YoY)

• Meesho: The company is a multi-sided technology platform driving e-commerce in India by connecting four key stakeholders — consumers, sellers, logistics partners, and content creators. The company operates its e-commerce marketplace enabling consumers to access a wide range of affordable products while offering sellers a low-cost platform to grow their businesses. The public issue was subscribed to 79.03 times on day 3. The bids were led by Qualified institutional investors (120.18 times), non-institutional investors (38.16 times), retail investors (19.08 times).

• Aequs: The company is engaged in manufacturing and operating a special economic zone in India to offer fully vertically integrated manufacturing capabilities in the Aerospace Segment. The public issue was subscribed to 101.63 times on day 3. The bids were led by Qualified institutional investors (120.92 times), non-institutional investors (80.62 times), retail investors (78.05 times), Employees (35.85 times)

• Vidya Wires: The company is engaged in manufacturing copper and aluminium wires. The public issue was subscribed to 26.59 times on day 3. The bids 

• Corona Remedies: Corona Remedies is a pharmaceutical company developing, manufacturing, and marketing products in women’s healthcare, cardiology, pain management, urology, and other therapeutic areas. The issue entirely an offer for sale of Rs 655.37 crore. The price band is set at Rs 1008 to Rs 1062 per share. The company raised xx crore from anchor investors.

• Wakefit Innovations: Wakefit Innovations is a Indian D2C (Direct-to-Consumer) home and sleep solutions company, best known for its high-quality and affordable range of mattresses, furniture, and home décor products. The issue is a combination of fresh issue of Rs 377 crore and offer for sale of Rs 911 crore. The price band is set at Rs 185 to Rs 195 per share. The company raised xx crore from anchor investors.

• ITC Hotels: BAT via its affiliates sold 9% stake worth Rs 3,855 crore, while HCL Capital Private bought 7% stake and Nippon MF bought 1.24% stake.

• Polyplex Corporation: K2 Family Private Trust bought 2.75 lakh shares (0.87%) at Rs 820 apiece, while First Water Fund sold 2.75 lakh shares (0.87%) at Rs 820 apiece.

• Greenply Industries: Promoter Karuna Investment bought 47,700 shares.

• Gateway Distriparks: Promoter Perfect Communication Private Limited bought 24.64 lakh shares.

• Usha Martin: Promoter Rajeev Jhawar bought 18,000 shares.

• Share to exit anchor Lock-In: Pine Labs (2%), Lenskart Solutions (2%), Scoda Tubes (54%), Dharmaj Crop Guard (20%)

• Board Meeting: Biocon (Fundraising), Fujiyama Power Systems (Financial Results), Som Distilleries & Breweries (Other Business Matters), Physicswallah (Financial Results), NACL Industries (Fund Raising), One Point One Solutions (Fund Raising)

• Nifty December futures up to 26,335 at a premium of 155 points.

• Nifty December futures open interest down by 1.5%.

• Nifty Options on Dec 9: Maximum Call open interest at 27,000 and Maximum Put open interest at 26,000. (Bhavcopy is not out yet)

• Securities in ban period: Sammaancap, Bandhan Bank, Kaynes.

Rupee closed flat at 89.99 against US Dollar on Friday.