Somi Conveyor

< -5%

Indag Rubber

Tolins Tyres

JK Tyre & Ind

-5% to -3%

Rubfila Intl

TVS Srichakra

Ceat

MM Rubber

Balkrishna Ind

Goodyear

Vamshi Rubber

Pix Transmis

Krypton

Apollo Tyres

Modi Rubber

Eastern Treads

Emerald Tyre

-3% to 0%

Dolfin Rubbers

0% to 3%

3% to 5%

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

<strong><a href="https://www.moneycontrol.com/markets/earnings/" target="_blank">Quarterly Earnings</a></strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/educational-institutions/physicswallah/PL09" target="_blank">Physicswallah</a> Q2 (Consolidated YoY)</strong>

Profit soars 69.6% to Rs 69.7 crore Vs Rs 41.1 crore

Revenue grows 26.3% to Rs 1,051.2 crore Vs Rs 832.2 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/renewables/fujiyamapowersystems/FPS01" target="_blank">Fujiyama Power Systems</a> Q2 (YoY)</strong>

Profit zooms 97.4% to Rs 62.9 crore Vs Rs 31.9 crore

Revenue jumps 72.6% to Rs 567.9 crore Vs Rs 329 crore

<strong>Auto Sales</strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/auto-carsjeeps/mahindramahindra/MM" target="_blank">Mahindra and Mahindra</a> (November YoY)</strong>

Sales volume soars 19.6% to 91,839 units Vs 76,797 units

Exports increase 8.4% to 3,063 units Vs 2,825 units

Production increases 18.4% to 96,196 units Vs 81,239 units

<strong>Stocks to Watch</strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/infrastructure-general/larsentoubro/LT" target="_blank">Larsen &amp; Toubro</a></strong>

The Board of Directors of the company has approved the transfer of its realty business undertaking to its subsidiary, L&amp;T Realty Properties, through a slump sale via a Scheme of Arrangement, subject to requisite regulatory approvals.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/infrastructure-general/siemens/S" target="_blank">Siemens</a></strong>

The Board of Directors has approved the sale of its Low Voltage Motors and Geared Motors businesses, including the related customer service operations, as a going concern on a slump-sale basis to Innomotics India for an enterprise value of Rs 2,200 crore, on a cash-free, debt-free basis.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/icicibank/ICI02" target="_blank">ICICI Bank</a></strong>

The bank has executed a share purchase agreement with Prudential Corporation Holdings (PCHL) to buy a 2% stake in ICICI Prudential AMC from PCHL for Rs 2,140 crore.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/transportlogistics/interglobeaviation/IA04" target="_blank">InterGlobe Aviation (IndiGo)</a></strong>

Moody’s said the widespread flight disruptions at IndiGo are credit negative, warning of potential revenue loss, refund outgo, and regulatory penalties after the airline failed to plan for aviation rules communicated to the industry more than a year in advance.

The rating agency further said cancelled flights, refunds, and compensation to affected passengers could cause “significant financial damage,” with penalties from the DGCA also remaining a possibility.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/steel-tubespipes/welspuncorp/WGS" target="_blank">Welspun Corp</a></strong>

Associate company East Pipes Integrated Company for Industry (EPIC), a listed entity in the Kingdom of Saudi Arabia (KSA), has received a contract from the Saudi Water Authority for the manufacturing and supply of steel pipes, with a total value exceeding 485 million SAR (Rs 1,165 crore).

The duration of the contract is six months, and the financial impact will be reflected in Q4FY26 and Q1FY27.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/textiles-hosieryknitwear/vtm/VTM" target="_blank">VTM</a></strong>

The company has signed an MoU with the Government of Tamil Nadu to invest Rs 50 crore over a span of two years for the manufacture of cotton grey fabric and home textile products in Madurai and Virudhunagar districts.

<strong>Bulk Deals</strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/constructioncontracting-civil/welspunenterprises/MSK" target="_blank">Welspun Enterprises</a></strong>

Promoter entity Welspun Group Master Trust has bought 7.5 lakh shares (equivalent to 0.54% of paid-up equity) in the infrastructure developer for Rs 38.7 crore at Rs 516.11 per share. The total promoter shareholding in the company was 55.48% as of September 2025.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/dredgingcorporationindia/DCI" target="_blank">Dredging Corporation of India</a></strong>

Invesco Mutual Fund, through Invesco Infrastructure Fund, has picked up 2.5 lakh shares (0.89% stake) in Dredging Corporation for Rs 23.6 crore at Rs 942.83 per share.

Earlier, on November 3 this year, Invesco Mutual Fund had already picked up 1.52 lakh shares (0.54% stake) in Dredging Corporation. Combining both transactions, the asset management company’s shareholding may now have increased to over 1 percent in Dredging.

<strong>Indian Phosphate</strong>

BNP Paribas Financial Markets has sold 4.71 lakh shares (1.88% stake) in Indian Phosphate for Rs 3.06 crore at Rs 65 per share. As of September 2025, BNP Paribas held a 2.13% stake in the company.

<strong>SME Listing</strong>

Neochem Bio Solutions
Helloji Holidays

<strong>Stock Trades Ex-Date for Rights</strong>

Deccan Gold Mines

<strong>Stocks in F&amp;O ban</strong>

Bandhan Bank
Kaynes Technology
Sammaan Capital

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Stocks to Watch Today: Physicswallah, Fujiyama Power, Siemens, IndiGo, Welspun Corp, ICICI Bank in focus on 9 December

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

Quarterly Earnings

Physicswallah Q2 (Consolidated YoY)

Profit soars 69.6% to Rs 69.7 crore Vs Rs 41.1 crore

Revenue grows 26.3% to Rs 1,051.2 crore Vs Rs 832.2 crore

Fujiyama Power Systems Q2 (YoY)

Profit zooms 97.4% to Rs 62.9 crore Vs Rs 31.9 crore

Revenue jumps 72.6% to Rs 567.9 crore Vs Rs 329 crore

Auto Sales

Mahindra and Mahindra (November YoY)

Sales volume soars 19.6% to 91,839 units Vs 76,797 units

Exports increase 8.4% to 3,063 units Vs 2,825 units

Production increases 18.4% to 96,196 units Vs 81,239 units

Stocks to Watch

Larsen &amp;amp; Toubro

The Board of Directors of the company has approved the transfer of its realty business undertaking to its subsidiary, L&amp;amp;T Realty Properties, through a slump sale via a Scheme of Arrangement, subject to requisite regulatory approvals.

Siemens

The Board of Directors has approved the sale of its Low Voltage Motors and Geared Motors businesses, including the related customer service operations, as a going concern on a slump-sale basis to Innomotics India for an enterprise value of Rs 2,200 crore, on a cash-free, debt-free basis.

ICICI Bank

The bank has executed a share purchase agreement with Prudential Corporation Holdings (PCHL) to buy a 2% stake in ICICI Prudential AMC from PCHL for Rs 2,140 crore.

InterGlobe Aviation (IndiGo)

Moody’s said the widespread flight disruptions at IndiGo are credit negative, warning of potential revenue loss, refund outgo, and regulatory penalties after the airline failed to plan for aviation rules communicated to the industry more than a year in advance.

The rating agency further said cancelled flights, refunds, and compensation to affected passengers could cause “significant financial damage,” with penalties from the DGCA also remaining a possibility.

Welspun Corp

Associate company East Pipes Integrated Company for Industry (EPIC), a listed entity in the Kingdom of Saudi Arabia (KSA), has received a contract from the Saudi Water Authority for the manufacturing and supply of steel pipes, with a total value exceeding 485 million SAR (Rs 1,165 crore).

The duration of the contract is six months, and the financial impact will be reflected in Q4FY26 and Q1FY27.

VTM

The company has signed an MoU with the Government of Tamil Nadu to invest Rs 50 crore over a span of two years for the manufacture of cotton grey fabric and home textile products in Madurai and Virudhunagar districts.

Bulk Deals

Welspun Enterprises

Promoter entity Welspun Group Master Trust has bought 7.5 lakh shares (equivalent to 0.54% of paid-up equity) in the infrastructure developer for Rs 38.7 crore at Rs 516.11 per share. The total promoter shareholding in the company was 55.48% as of September 2025.

Dredging Corporation of India

Invesco Mutual Fund, through Invesco Infrastructure Fund, has picked up 2.5 lakh shares (0.89% stake) in Dredging Corporation for Rs 23.6 crore at Rs 942.83 per share.

Earlier, on November 3 this year, Invesco Mutual Fund had already picked up 1.52 lakh shares (0.54% stake) in Dredging Corporation. Combining both transactions, the asset management company’s shareholding may now have increased to over 1 percent in Dredging.

Indian Phosphate

BNP Paribas Financial Markets has sold 4.71 lakh shares (1.88% stake) in Indian Phosphate for Rs 3.06 crore at Rs 65 per share. As of September 2025, BNP Paribas held a 2.13% stake in the company.

SME Listing

Neochem Bio Solutions
Helloji Holidays

Stock Trades Ex-Date for Rights

Deccan Gold Mines

Stocks in F&amp;amp;O ban

Bandhan Bank
Kaynes Technology
Sammaan Capital

Promoter entity Welspun Group Master Trust has acquired additional over half a percent stake in Welspun Enterprises, the infrastructure developer, via open market transactions on December 8.

Despite which, <a href="https://www.moneycontrol.com/india/stockpricequote/constructioncontracting-civil/welspunenterprises/MSK">Welspun Enterprises</a> shares fell 0.74 percent to close at Rs 516.6 with above-average volumes on the NSE. The stock showed strong recovery from day's low of Rs 501.5.

Welspun Group Master Trust has bought 7.5 lakh shares (equivalent to 0.54 percent of paid-up equity) in the company for Rs 38.7 crore at Rs 516.11 per share. The total promoter shareholding in the company was 55.48 percent as of September 2025.

Meanwhile, <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/dredgingcorporationindia/DCI">Dredging Corporation of India</a> seems to have reacted to the buying interest showed by Invesco Mutual Fund. The stock clocked 14.3 percent rally, the biggest single-day surge since November 3, to end at fresh 52-week high of Rs 1,006.5 with above-average volumes.

Invesco Mutual Fund through Invesco Infrastructure Fund has picked 2.5 lakh shares (0.89 percent stake) for Rs 23.6 crore at Rs 942.83 per share.

Earlier on November 3 this year, Invesco Mutual Fund already picked 1.52 lakh shares (0.54 percent stake) in Dredging Corporation. Combining both transaction, the asset management company's shareholding may be increased over 1 percent in Dredging now.

Elimath Advisors, owned by Mathew Cyriac and Elizabeth Mathew, has acquired 48.8 lakh shares in <a href="https://www.moneycontrol.com/india/stockpricequote/retail/praxishomeretail/PRAXI54090">Praxis Home Retail</a>, the home furnishings company, for Rs 4.41 crore at Rs 9.05 per share, whereas 2015 Grover Family Trust sold 45.13 lakh shares at same price for Rs 4.08 crore.

Praxis Home Retail shares corrected 4.3 percent to finish the session at Rs 9.05.

The negative action was also seen in Indian Phosphate, perhaps after selling nearly 2 percent stake by BNP Paribas Financial Markets. The stock fell 7.26 percent to Rs 62.6 after gap-down opening.

BNP Paribas Financial Markets has sold 4.71 lakh shares (1.88 percent stake) in Indian Phosphate for Rs 3.06 crore at Rs 65 per share. As of September 2025, BNP Paribas held 2.13 percent stake in the company.

Meanwhile, <a href="https://www.moneycontrol.com/india/stockpricequote/labslife-sciences-services/invictadiagnostic/IDL">Invicta Diagnostic</a> shares closed at Rs 96.70 on the BSE, rising 13.76 percent the first day of bidding. Pine Oak Global Fund has bought 1.82 lakh shares in the diagnostic chain (based in the Mumbai Metropolitan Region) at Rs 100 per share.

Further, Laxmi Trading &amp; Investments acquired 2.03 lakh shares at Rs 98.07 per share, and Neeraj Vishnukumar Gupta 2.99 lakh shares at Rs 98.34 per share.

Promoter picks up over half a percent stake in Welspun Enterprises, Invesco MF buys 0.89% stake in Dredging Corporation

Promoter entity Welspun Group Master Trust has acquired additional over half a percent stake in Welspun Enterprises, the infrastructure developer, via open market transactions on December 8.

Despite which, Welspun Enterprises shares fell 0.74 percent to close at Rs 516.6 with above-average volumes on the NSE. The stock showed strong recovery from day's low of Rs 501.5.

Welspun Group Master Trust has bought 7.5 lakh shares (equivalent to 0.54 percent of paid-up equity) in the company for Rs 38.7 crore at Rs 516.11 per share. The total promoter shareholding in the company was 55.48 percent as of September 2025.

Meanwhile, Dredging Corporation of India seems to have reacted to the buying interest showed by Invesco Mutual Fund. The stock clocked 14.3 percent rally, the biggest single-day surge since November 3, to end at fresh 52-week high of Rs 1,006.5 with above-average volumes.

Invesco Mutual Fund through Invesco Infrastructure Fund has picked 2.5 lakh shares (0.89 percent stake) for Rs 23.6 crore at Rs 942.83 per share.

Earlier on November 3 this year, Invesco Mutual Fund already picked 1.52 lakh shares (0.54 percent stake) in Dredging Corporation. Combining both transaction, the asset management company's shareholding may be increased over 1 percent in Dredging now.

Elimath Advisors, owned by Mathew Cyriac and Elizabeth Mathew, has acquired 48.8 lakh shares in Praxis Home Retail, the home furnishings company, for Rs 4.41 crore at Rs 9.05 per share, whereas 2015 Grover Family Trust sold 45.13 lakh shares at same price for Rs 4.08 crore.

Praxis Home Retail shares corrected 4.3 percent to finish the session at Rs 9.05.

The negative action was also seen in Indian Phosphate, perhaps after selling nearly 2 percent stake by BNP Paribas Financial Markets. The stock fell 7.26 percent to Rs 62.6 after gap-down opening.

BNP Paribas Financial Markets has sold 4.71 lakh shares (1.88 percent stake) in Indian Phosphate for Rs 3.06 crore at Rs 65 per share. As of September 2025, BNP Paribas held 2.13 percent stake in the company.

Meanwhile, Invicta Diagnostic shares closed at Rs 96.70 on the BSE, rising 13.76 percent the first day of bidding. Pine Oak Global Fund has bought 1.82 lakh shares in the diagnostic chain (based in the Mumbai Metropolitan Region) at Rs 100 per share.

Further, Laxmi Trading &amp;amp; Investments acquired 2.03 lakh shares at Rs 98.07 per share, and Neeraj Vishnukumar Gupta 2.99 lakh shares at Rs 98.34 per share.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/biocon/BL03">Biocon</a> dropped 3 percent on December 8 as analysts cautioned investors about equity dilution after the company fully acquires its subsidiary Biocon Biologics.

The shares of the company closed at Rs 381.60 apiece on Monday, the lowest level seen by the stock in over three weeks.

Biocon on December 6 announced that its board has considered and approved the plan to acquire the remaining 23.3 percent equity stake in Biocon Biologics, to make it the pharma giant's 100 percent wholly-owned subsidiary. The shares will be bought from Mylan, Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP.

The company added that the board has approved the offer and issuance of more than 17 crore equity shares of the company on a preferential basis, aggregating to an amount up to Rs 6,950 crore. The board also approved the plan to raise up to Rs 4,500 crore via qualified institutions placement (QIP), rights issue, preferential allotment or private placement.
<h3><strong>Here's what analysts say:</strong></h3>
Systematix Institutional Equities analyst Vishal Manchanda said that to buyout minority interest in Biocon Biologics, Biocon may have to raise Rs 10,000 crore-Rs 15,000 crore, which would mean meaningful dilution for shareholders of the company.

Speaking with CNBC TV18, Dharmesh Kant, Head Research at Chola Securities, said that while the street may have anticipated the move to make Biocon Biologics a 100 percent subsidiary, the <a href="https://www.moneycontrol.com/news/business/stocks/biocon-merger-is-earnings-dilutive-avoid-ems-sector-for-now-says-dharmesh-kant-alpha-article-13714752.html">deal is likely to be dilutive to earnings</a> per share (EPS).

JM Financial however kept a 'Buy' call on the stock, with a target price of Rs 476 per share. This implies an upside potential of more than 21 percent from the stock's previous closing price. The domestic brokerage said that the transaction could potentially add incremental 10 percent on Biocon valuation due to removal of holdco discount as well as increased stake in the subsidiary.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Biocon shares drop 3%: Analysts expect 'earnings dilution' after firm's Biocon Biologics buyout

The shares of Biocon dropped 3 percent on December 8 as analysts cautioned investors about equity dilution after the company fully acquires its subsidiary Biocon Biologics.

The shares of the company closed at Rs 381.60 apiece on Monday, the lowest level seen by the stock in over three weeks.

Biocon on December 6 announced that its board has considered and approved the plan to acquire the remaining 23.3 percent equity stake in Biocon Biologics, to make it the pharma giant's 100 percent wholly-owned subsidiary. The shares will be bought from Mylan, Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP.

The company added that the board has approved the offer and issuance of more than 17 crore equity shares of the company on a preferential basis, aggregating to an amount up to Rs 6,950 crore. The board also approved the plan to raise up to Rs 4,500 crore via qualified institutions placement (QIP), rights issue, preferential allotment or private placement.
Here's what analysts say:
Systematix Institutional Equities analyst Vishal Manchanda said that to buyout minority interest in Biocon Biologics, Biocon may have to raise Rs 10,000 crore-Rs 15,000 crore, which would mean meaningful dilution for shareholders of the company.

Speaking with CNBC TV18, Dharmesh Kant, Head Research at Chola Securities, said that while the street may have anticipated the move to make Biocon Biologics a 100 percent subsidiary, the deal is likely to be dilutive to earnings per share (EPS).

JM Financial however kept a 'Buy' call on the stock, with a target price of Rs 476 per share. This implies an upside potential of more than 21 percent from the stock's previous closing price. The domestic brokerage said that the transaction could potentially add incremental 10 percent on Biocon valuation due to removal of holdco discount as well as increased stake in the subsidiary.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/electronics-components/kaynestechnologyindia/KTI">Kaynes Technology India</a> dropped around 12 percent on December 8, extending significant losses for the third consecutive session after Kotak Institutional Equities raised concerns over inconsistencies in the company's related-party disclosures.

The shares of the company closed at Rs 3,851.50 apiece today. The sharp drop in the share price has resulted in strong market cap erosion for the EMS player.
<h3><strong>Kaynes Tech m-cap erosion:</strong></h3>
The market capitalization of Kaynes Tech stood at around Rs 35,600 crore at the end of the trading session on December 3 (Wednesday). After Kotak released its report, the shares saw significant decline in the following three sessions.

The market cap of Kaynes Tech today stands at nearly Rs 25,800 crore. This implies a market cap erosion of approximately Rs 10,000 crore in just three sessions of losses since Kotak’s report dampened investor sentiment.
<h3><strong>Kotak's allegations, Kaynes' clarification:</strong></h3>
In its note, Kotak Institutional Equities said that it has identified multiple mismatches between the disclosures made by Kaynes Technology, Kaynes Electronics Manufacturing, and its subsidiary Iskraemeco for the financial year 2025.

According to the brokerage, Iskraemeco’s filings show purchases of Rs 180 crore from Kaynes Electronics Manufacturing, but this transaction is not reflected in Kaynes Electronics Manufacturing’s own related-party disclosures. Iskraemeco also reported year-end payables of Rs 320 crore to Kaynes Technology and Rs 180 crore to Kaynes Electronics Manufacturing, along with receivables of Rs 190 crore from Kaynes Technology. These balances, Kotak noted, do not appear in the corresponding disclosures of Kaynes Technology or Kaynes Electronics Manufacturing.

Kaynes Technology issued a clarification on December 5, stating that these were inadvertently not disclosed in the standalone financial statements. “This has been rectified and has been noted for future compliance. This transaction was part of the overall financial statement in both the entities,” the firm said.

Kotak further said that almost all of Iskraemeco’s current receivables were shown as due from its parent company, with Rs 45.8 crore outstanding for more than a year.

The brokerage said the inconsistencies warrant closer scrutiny, as they raise questions on inter-company transactions and year-end balances within the group.
<h3><strong>Here's what JPMorgan said:</strong></h3>
JPMorgan advised investors to <a href="https://www.moneycontrol.com/news/business/markets/kaynes-tech-shares-tumble-8-jpmorgan-advises-investors-to-avoid-bottom-fishing-13711988.html">avoid "bottom fishing"</a> in the shares of Kaynes Technologies, as it does not see a clear, strong catalyst for the stock till it reports its third quarter results, CNBC-TV18 reported. The international brokerage however continues to remain ‘Overweight’ on the stock, with a target price of Rs 7,550 apiece. This implies an upside potential of nearly 52 percent from the stock’s previous closing price.

JPMorgan said that Kaynes is now facing balance sheet and cash flow concerns with question marks on cash flow and revenue growth as well as ex-smart meters. The brokerage said that the stock has been on a downward trajectory after its Q2 results and it is difficult to predict when the stock will make a bottom given that neither the fundamentals nor the guidance have changed but sentiment is driving the stock down, the business news channel reported.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-08-12-2025-liveblog-13714490.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Kaynes Tech shares tumble 12%, sell-off wipes out nearly Rs 10,000 crore from m-cap in three days

The shares of Kaynes Technology India dropped around 12 percent on December 8, extending significant losses for the third consecutive session after Kotak Institutional Equities raised concerns over inconsistencies in the company's related-party disclosures.

The shares of the company closed at Rs 3,851.50 apiece today. The sharp drop in the share price has resulted in strong market cap erosion for the EMS player.
Kaynes Tech m-cap erosion:
The market capitalization of Kaynes Tech stood at around Rs 35,600 crore at the end of the trading session on December 3 (Wednesday). After Kotak released its report, the shares saw significant decline in the following three sessions.

The market cap of Kaynes Tech today stands at nearly Rs 25,800 crore. This implies a market cap erosion of approximately Rs 10,000 crore in just three sessions of losses since Kotak’s report dampened investor sentiment.
Kotak's allegations, Kaynes' clarification:
In its note, Kotak Institutional Equities said that it has identified multiple mismatches between the disclosures made by Kaynes Technology, Kaynes Electronics Manufacturing, and its subsidiary Iskraemeco for the financial year 2025.

According to the brokerage, Iskraemeco’s filings show purchases of Rs 180 crore from Kaynes Electronics Manufacturing, but this transaction is not reflected in Kaynes Electronics Manufacturing’s own related-party disclosures. Iskraemeco also reported year-end payables of Rs 320 crore to Kaynes Technology and Rs 180 crore to Kaynes Electronics Manufacturing, along with receivables of Rs 190 crore from Kaynes Technology. These balances, Kotak noted, do not appear in the corresponding disclosures of Kaynes Technology or Kaynes Electronics Manufacturing.

Kaynes Technology issued a clarification on December 5, stating that these were inadvertently not disclosed in the standalone financial statements. “This has been rectified and has been noted for future compliance. This transaction was part of the overall financial statement in both the entities,” the firm said.

Kotak further said that almost all of Iskraemeco’s current receivables were shown as due from its parent company, with Rs 45.8 crore outstanding for more than a year.

The brokerage said the inconsistencies warrant closer scrutiny, as they raise questions on inter-company transactions and year-end balances within the group.
Here's what JPMorgan said:
JPMorgan advised investors to avoid &quot;bottom fishing&quot; in the shares of Kaynes Technologies, as it does not see a clear, strong catalyst for the stock till it reports its third quarter results, CNBC-TV18 reported. The international brokerage however continues to remain ‘Overweight’ on the stock, with a target price of Rs 7,550 apiece. This implies an upside potential of nearly 52 percent from the stock’s previous closing price.

JPMorgan said that Kaynes is now facing balance sheet and cash flow concerns with question marks on cash flow and revenue growth as well as ex-smart meters. The brokerage said that the stock has been on a downward trajectory after its Q2 results and it is difficult to predict when the stock will make a bottom given that neither the fundamentals nor the guidance have changed but sentiment is driving the stock down, the business news channel reported.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/transportlogistics/spicejet/SJ01">SpiceJet</a> recorded sharp gains for the second consecutive session on December 8, jumping more than 14 percent today. This comes as rival airline IndiGo faces mass disruptions, cancelling several flights and leading to chaos at major airports across India.

SpiceJet shares gained more than 17 percent in just two sessions, hitting the day's high at Rs 35.50 per share. The stock then pared some gains to close 4.47 percent higher at Rs 32.50 apiece.

This comes as the domestic airline plans to increase its operational fleet while its peer faces crisis.
<h3><strong>SpiceJet’s plans to increase operational fleet:</strong></h3>
Earlier in November, SpiceJet had said that it expects its <a href="https://www.moneycontrol.com/news/business/markets/spicejet-shares-rise-5-as-airline-expects-operational-fleet-to-double-by-2025-end-13679712.html">operational fleet to double by the end of this year</a>, driving a sharp expansion in network reach and scale.

SpiceJet in its investor presentation said that its operational fleet reduced to 19 in September from 21 in June. "SpiceJet aims to bring up to eight of its grounded Boeing aircraft back into service by April 2026, including four in the early winter period to meet peak travel demand. Two have already rejoined the fleet, up to two more ungrounded and inducted into the fleet by December 2025, and the remaining four are planned to return by early summer 2026," it said.

"By the end of 2025, SpiceJet aims to double its operational fleet and nearly triple its Available Seat Kilometers (ASKM)," it added, while noting that this would mark a significant milestone in its growth journey.

The airline aims to bring up to eight of its grounded Boeing aircraft back into service by April 2026. Two planes have already rejoined the fleet and up to two more will rejoin the fleet by December 2025. The remaining four are planned to return by early summer of 2026.
<h3><strong>IndiGo crisis:</strong></h3>
IndiGo's <a href="https://www.moneycontrol.com/news/business/markets/indigo-shares-tumble-7-brokerages-see-costs-rising-for-airline-as-fdtl-norms-trigger-mass-flight-cancellations-13715034.html">flight cancellations continued to persist </a>on Monday, leading to widespread chaos at India's major airports. Delhi airport issued an advisory in the early hours of the day, stating that schedules remain unstable as the airline works to restore normal operations.

Over six days, the airline cancelled more than 2,000 domestic and international flights. Directorate General of Civil Aviation (DGCA) has sent a show-cause notice to IndiGo CEO Peter Elbers over large-scale disruptions and alleged non-compliances.

The show-cause notice, issued to CEO Pieter Elbers, accused the airline of “significant lapses in planning, oversight and resource management” and a failure to adequately prepare for new Flight Duty Time Limitations (FDTL) norms.

A significant factor behind the chaos is a sharp shortage of crew, particularly pilots, following the introduction of revised Flight Duty Time Limitation (FDTL) norms last month. The new rules mandate more rest hours and humane rosters, but IndiGo has been struggling to realign its network accordingly.
<h3><strong>Aviation minister on IndiGo crisis:</strong></h3>
Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu today said that the IndiGo crisis was driven by problems in its crew rostering and internal planning system. Addressing the Rajya Sabha, Naidu said that strict Civil Aviation Requirements (CARs) are in place for passengers who have faced difficulties due to delays and cancellations.

"I want more players in the industry. Today, India has a capacity of five big airlines and there has been an effort from the ministry to encourage more airlines," he added.
<h3><strong>SpiceJet share price history:</strong></h3>
SpiceJet shares have fallen more than 5 percent in the past one month. The stock has fallen over 25 percent in the past six months, and over 42 percent in 2025 so far.

Its P/E ratio on a consolidated basis stands at over 10.

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SpiceJet shares fly up to 14% amid IndiGo's mass flight cancellations: Here's why

The shares of SpiceJet recorded sharp gains for the second consecutive session on December 8, jumping more than 14 percent today. This comes as rival airline IndiGo faces mass disruptions, cancelling several flights and leading to chaos at major airports across India.

SpiceJet shares gained more than 17 percent in just two sessions, hitting the day's high at Rs 35.50 per share. The stock then pared some gains to close 4.47 percent higher at Rs 32.50 apiece.

This comes as the domestic airline plans to increase its operational fleet while its peer faces crisis.
SpiceJet’s plans to increase operational fleet:
Earlier in November, SpiceJet had said that it expects its operational fleet to double by the end of this year, driving a sharp expansion in network reach and scale.

SpiceJet in its investor presentation said that its operational fleet reduced to 19 in September from 21 in June. &quot;SpiceJet aims to bring up to eight of its grounded Boeing aircraft back into service by April 2026, including four in the early winter period to meet peak travel demand. Two have already rejoined the fleet, up to two more ungrounded and inducted into the fleet by December 2025, and the remaining four are planned to return by early summer 2026,&quot; it said.

&quot;By the end of 2025, SpiceJet aims to double its operational fleet and nearly triple its Available Seat Kilometers (ASKM),&quot; it added, while noting that this would mark a significant milestone in its growth journey.

The airline aims to bring up to eight of its grounded Boeing aircraft back into service by April 2026. Two planes have already rejoined the fleet and up to two more will rejoin the fleet by December 2025. The remaining four are planned to return by early summer of 2026.
IndiGo crisis:
IndiGo's flight cancellations continued to persist on Monday, leading to widespread chaos at India's major airports. Delhi airport issued an advisory in the early hours of the day, stating that schedules remain unstable as the airline works to restore normal operations.

Over six days, the airline cancelled more than 2,000 domestic and international flights. Directorate General of Civil Aviation (DGCA) has sent a show-cause notice to IndiGo CEO Peter Elbers over large-scale disruptions and alleged non-compliances.

The show-cause notice, issued to CEO Pieter Elbers, accused the airline of “significant lapses in planning, oversight and resource management” and a failure to adequately prepare for new Flight Duty Time Limitations (FDTL) norms.

A significant factor behind the chaos is a sharp shortage of crew, particularly pilots, following the introduction of revised Flight Duty Time Limitation (FDTL) norms last month. The new rules mandate more rest hours and humane rosters, but IndiGo has been struggling to realign its network accordingly.
Aviation minister on IndiGo crisis:
Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu today said that the IndiGo crisis was driven by problems in its crew rostering and internal planning system. Addressing the Rajya Sabha, Naidu said that strict Civil Aviation Requirements (CARs) are in place for passengers who have faced difficulties due to delays and cancellations.

&quot;I want more players in the industry. Today, India has a capacity of five big airlines and there has been an effort from the ministry to encourage more airlines,&quot; he added.
SpiceJet share price history:
SpiceJet shares have fallen more than 5 percent in the past one month. The stock has fallen over 25 percent in the past six months, and over 42 percent in 2025 so far.

Its P/E ratio on a consolidated basis stands at over 10.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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SpiceJet shares fly up to 14% amid IndiGo's mass flight cancellations: Here's why

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SpiceJet shares fly up to 14% amid IndiGo's mass flight cancellations: Here's why

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