December 12, 2025

TOP NEWS

Cyient: Company acquires Abu Dhabi & Gulf Computer Est. (ADGCE) to enhance digital transformation and IoT solutions in Energy in Middle East. Cyient to introduce advanced manufacturing for aerospace, defense, industrial, medical, and automotive sectors. Cyient Semiconductors provides chip design, silicon prototyping, and product enablement for global markets. Middle East energy sector poised for $200+ billion investments, creating growth potential for Cyient.  Expansion supports regional visions like Saudi Vision 2030 and UAE Vision 2031. Positive

Astra Microwave: Receives an order worth Rs 171.38 cr from the Indian Meteorological Department for 6 Klystron-based S-band Polarimetric Doppler Weather Radars with 3-year warranty + 7-year CAMC. Positive

Tata power: The company has received a Letter of Intent (LOI) from REC for the acquisition of Jejuri Hinjewadi Power Transmission, a project special purpose vehicle (SPV), for Rs 155.78 crore. The project SPV includes construction of approximately 115 km of 400 kV double-circuit (D/c) transmission line between Jejuri and Hinjewadi, along with extension of 400 kV GIS line bays at substations in both locations. Positive

NBCC: The company has secured two new orders totaling ₹289.39 crore. The major order is from NALCO worth ₹255.5 crore for planning, designing, and executing multiple civil, and new construction works across NALCO’s offices and townships. Another ₹33.89 crore order was received from SAIL Bokaro for desilting of a cooling pond. Positive

Honasa Consumer: The company has announced the acquisition of BTM Ventures, the parent company of Reginald Men, a premium personal-care brand for men, which offers sunscreen and serum, which are focus categories for Honasa. As part of the transaction, Honasa will acquire a 95% stake at an enterprise value of Rs 195 crore. The remaining 5% will be acquired after 12 months based on pre-agreed valuation criteria. Positive.

Vedanta : The company has been declared the successful bidder for the Genjana Nickel, Chromium & PGE mineral block under the Critical Minerals Auction (Tranche III), further strengthening its critical minerals portfolio. Positive 

Indoco Remedies: Announced that USFDA has successfully completed inspection of its API manufacturing unit at Patalganga, Navi mumbai. The inspections concluded with zero observations.  Positive

Senores pharma: launches Deferiprone Tablets USP (500mg & 1000mg) in the U.S., bioequivalent to Ferriprox. Dr. Reddy’s Laboratories Inc. to market the product in the U.S. - Deferiprone Tablets had ~$70M in U.S. sales for the 12 months ending October 2025. Positive

MACRO OUTLOOK

·         The DJIA and the S&P500 rose 1.3% and 0.2% respectively while the Nasdaq Composite Index fell 0.3%. The Eurostoxx 50 rose 0.8%. The Dollar Index fell 0.5% to 98.35 and EUR-USD gained 40 pips to 1.1740. The US 2Y yield closed flat at 3.54% after falling by nearly 8bp on Wednesday. The US 10Y yield edged up 1bp to 4.16%. The German 10Y yield dipped 1bp to 2.84% and the UK 10Y yield fell 2bp to 4.48%. Brent crude oil prices fell 1.5% to USD61.28 and gold rose 1.2% to USDD4,280.

·         China concluded the two days Central Economic Work Conference (CEWC) that the government will continue to implement “a more proactive fiscal policy” and monetary policy will continue to be “moderately loose”, the government continues to set tech innovation as a priority, particularly with the emphasis on AI. It stresses the need to thoroughly address “involution” however no details were provided such as the annual GDP growth target and the budget deficit rate. These will be announced in March next year during the annual session of the National People’s Congress. Sentimentally neutral negative for Industrial commodities.

·         The US trade deficit continued to narrow sharply in September to USD52.8 billion (consensus: USD63.3 billion; August: USD59.3 billion), as import growth (+0.6% y/y) trailed exports (+3.0% y/y), while the trade gap with China narrowed to USD11.4 billion. Initial jobless claims normalised to 236k for the week ending 6 December (prior: 192k), following the earlier Thanksgiving lull, though jobless claims data are expected to remain volatile heading into year-end amid the holiday season. Negative for USD.

OTHER NEWS

Chalet Hotels: The company has proposed acquisition of a company owning a resort property at Udaipur with around 150 rooms at a proposed consideration of Rs.171 crore. The company will provide further details once definitive agreements are entered into. Positive.

RRP Defense: RRP Defense Ltd and Israel’s Meprolight have announced a strategic collaboration to bring advanced electro-optic and weapon-sight systems to India. The partnership covers joint sales and distribution, technology transfer for assembly and integration at RRP’s Mahape facility, and a long-term plan to localise manufacturing under Make in India and Atmanirbhar Bharat. The collaboration will cater to Indian military and law-enforcement agencies.

Tembo Global Industries : The company has stated that it is in active discussions with a large corporate group for potential projects in port construction, data-center development, and fuel-farm systems. The combined potential order value is expected to exceed ₹700 crore across civil, MEP, and HVAC works.

State Bank of India: The bank will buy a 50% stake in a company called Indian Digital Payment Intelligence Corporation (IDPIC) to fight digital payment frauds, after getting approval from the Reserve Bank of India (RBI). The bank will buy 1,00,00,000 (one crore) equity shares of IDPIC at a face value of Rs 10 per share, investing Rs 10 crore in cash. The acquisition of SBI’s stake is expected to be completed by December 15, 2025.