📍 REGULATORY SCRUTINY

• IndiGo: The CEO of IndiGo, Pieter Elbers, has been summoned to appear before the Directorate General of Civil Aviation (DGCA) on December 12, 2025. This follows ongoing operational disruptions and numerous flight cancellations. The DGCA is intensifying its inquiry, with a four-member committee tasked to investigate the root causes of these issues, including manpower planning and readiness to implement new duty period norms for pilots. A Public Interest Litigation (PIL) has also been filed in the Delhi High Court concerning the flight cancellations. IndiGo has reportedly scaled down its daily flights but stated international operations remain unaffected.

📍 ORDER WINS

• NBCC Ltd.: The state-owned construction firm secured two significant project management consultancy orders totaling ₹289.39 crore. These include a ₹255.50 crore order from NALCO for infrastructure development work and a ₹33.89 crore contract from SAIL Bokaro for desilting operations.
• Ashoka Buildcon: A joint venture involving Ashoka Buildcon (Adani-Ashoka-Aakshaya) received a Letter of Acceptance (LoA) for an ₹18.2 billion project from the Brihanmumbai Municipal Corporation (BMC) for the Mithi River cleanup (Package III).
• Tata Power: The company received an order from REC Power Development and Consultancy to construct the Jejudi–Hinjewadi transmission line, which will be valid for 35 years with an annual transmission charge of ₹155.78 crore.
• Astra Microwave Products: Secured an order worth ₹171.38 crore from the India Meteorological Department for the supply of six Klystron-based S-band polarimetric Doppler weather radars and related systems.
• Oswal Pumps: Received a ₹380 crore order from the Maharashtra State Electricity Distribution Company (MSEDCL) for the installation of 13,738 off-grid solar water pumping systems.

📍 ACQUISITION

• Honasa Consumer: The parent company of Mamaearth announced the acquisition of a 95% stake in BTM Ventures, the owner of the men's personal care brand Reginald Men, for an enterprise value of ₹195 crore. This strategic move marks Honasa's entry into the men's grooming segment and aims to strengthen its presence in the South Indian market.
• Firstsource Solutions: A subsidiary of Firstsource Solutions completed the acquisition of Pastdue Credit Solutions, a UK-based FCA-registered collections agency, for GBP 22 million.
• Rama Steel Tubes: The company is set to acquire UAE-based Automech Group for AED 296 million (approximately ₹728 crore), diversifying into high-value precision engineering and expanding its presence in the GCC/MENA regions.

📍 CAPITAL MARKETS ACTIVITY

• NACL Industries: December 12, 2025, serves as the record date for its anticipated rights issue, aiming to raise ₹249.29 crore. Eligible shareholders will be entitled to receive 5 rights shares for every 31 shares held, priced at ₹76.70 per share. The issue is scheduled to open on December 22, 2025.
• Corona Remedies IPO: The allotment status for Corona Remedies IPO was finalized on December 11, 2025. Shares are expected to be credited to the Demat accounts of successful investors, and refunds for unsuccessful applicants will be processed on December 12, 2025. The IPO was significantly oversubscribed by 137.04 times.

📍 CAPACITY EXPANSION

• Jindal Steel & Power (JSPL): The company has tripled its annual capacity for heat-treated plates to seven lakh tonnes, signifying an expansion of its manufacturing capabilities.

📍 NEW PRODUCT/DEVELOPMENT

• BEML: The public sector unit rolled out a prototype of its new driverless metro trainset (designated 5RS-DM) at its Bengaluru facility. This is part of a contract to supply metro cars for the upcoming Pink and Blue (Airport) lines of the Bangalore Metro Rail Corporation (BMRCL).

📍 DEBT RESTRUCTURING

• Hindustan Construction Company (HCC): HCC announced a significant reduction of ₹33.6 billion in the corporate guarantee it provided to its associate company, Prolific Resolution Pvt. Ltd. (PRPL). The guarantee obligation has now been cut to ₹57.1 billion, representing approximately 20% of the principal amount transferred.

📍 RATE REVISION

• Indian Overseas Bank: The bank revised its Marginal Cost of Funds-based Lending Rate (MCLR) downwards across various tenures, with the changes effective from December 15, 2025.

📍 REGULATORY OBSERVATIONS

• Piramal Pharma: The US FDA concluded a GMP inspection at Piramal Pharma's Lexington, Kentucky facility, issuing a Form 483 with four observations related to procedural enhancements.

📍 MINERAL BLOCK WIN

• Vedanta: Vedanta was declared the successful bidder for the Genjana nickel, chromium, and PGE block as part of Critical Mineral Auctions Tranche III.

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