🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Jindal Steel & Power announced a significant expansion, tripling its annual capacity for heat-treated plates to seven lakh tonnes, making it the country's largest player in this segment.
• BEML has rolled out a prototype of its new driverless metro trainset (designated 5RS-DM) at its Bengaluru facility. This trainset is part of a contract to supply metro cars for Bengaluru's upcoming Pink and Blue (Airport) lines.
• ITC Hotels signed a new premium property, the 150-key Epiq Collection Jaipur, Bagru, scheduled to open in 2030, expanding its recently introduced premium brand.
• Glenmark Pharmaceuticals is set to launch a generic medication in the US market this month for the treatment of anaemia and to prevent serious side effects from certain medications.
• Vedanta has been declared the successful bidder for the Genjana nickel, chromium, and PGE block under the Ministry of Mines' Critical Mineral Auctions (Tranche III), strengthening its critical minerals portfolio.
• NBCC Ltd. secured two significant project management consultancy orders totaling ₹289 crore. These include a ₹255.5 crore order from NALCO and a ₹33.8 crore order from SAIL Bokaro.
• Astra Microwave Products received a ₹171.38-crore order from the India Meteorological Department for the supply of six Klystron-based S-band polarimetric Doppler weather radars.
• Oswal Pumps secured a ₹380-crore order from the Maharashtra State Electricity Distribution Company (MSEDCL) to install 13,738 off-grid solar water pumping systems.
• Firstsource Solutions' subsidiary completed the acquisition of Pastdue Credit Solutions, a UK-based collections agency, for GBP 22 million.
• Honasa Consumer will acquire a 95% stake in BTM Ventures, the owner of the men's grooming brand Reginald Men, at an enterprise value of ₹195 crore.
• Rama Steel Tubes announced its acquisition of UAE-based Automech Group for AED 296 million (₹728 crore), diversifying into high-value precision engineering and expanding its GCC/MENA footprint.
• RRP Defense has partnered with Israel-based Meprolight to introduce advanced electro-optics and weapon sights in India.
• Indian Overseas Bank has revised its MCLR (Marginal Cost of Funds-based Lending Rate) downwards across various tenures, effective December 15.
• Bharat Rasayan will turn ex-date for a 1:1 bonus issue and a stock split from ₹10 to ₹5.
• Tata Power has received a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd for the acquisition of Jejuri Hinjewadi Power Transmission Ltd, a project SPV.

Neutral Developments

• The Indian stock market is expected to open strong due to positive global cues, particularly after the US Federal Reserve's rate cut. However, analysts suggest that the market may consolidate rather than extend a rally aggressively, given ongoing foreign fund outflows and limited domestic triggers.
• Foreign Institutional Investors (FIIs) continued to be net sellers for the tenth consecutive session, offloading equities worth ₹1,651 crore, while Domestic Institutional Investors (DIIs) infused ₹3,752 crore into the market.
• Piramal Pharma received a Form 483 with four observations from the US FDA following a GMP inspection at its Lexington, Kentucky facility. These observations are classified as Voluntary Action Indicated (VAI) and relate to procedural enhancements.

Negative News

• IndiGo CEO Pieter Elbers has been summoned to appear before the Committee of Officers at the Directorate General of Civil Aviation (DGCA) on December 12, 2025, as the regulator probes the airline's severe operational disruptions.
• Mexico's recently approved tariffs of up to 50% on imports from Asian countries, including India, could impact specific sectors like automobiles, although they are not expected to materially affect India's overall export picture.

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