Jain Resource

< -5%

MFS Intercorp

-5% to -3%

Mardia Samyoung

-3% to 0%

Vedanta

Bharat Wire Rop

Ram Ratna Wires

Poojawestern Me

Southern Magnes

Divine Power

Hind Zinc

Nile

Shalimar Wires

Gravita India

0% to 3%

Bhagyanagar Ind

3% to 5%

Baroda Extrusio

Bonlon Industri

Cubex Tubings

Hind Copper

Sagardeep Alloy

Onix Solar

Coforge to acquire US-based AI firm Encora in a $2.35 billion all-stock deal, Coforge shares rose over 2 percent after the acquisition announcement, Brokerages are split on the deal's impact, citing growth and valuation concerns

* Coforge to acquire US-based AI firm Encora in a $2.35 billion all-stock deal
* Coforge shares rose over 2 percent after the acquisition announcement
* Brokerages are split on the deal's impact, citing growth and valuation concerns

Coforge shares rose over 2% after announcing a $2.35 billion all-stock acquisition of US-based Encora. Brokerages are split, with some citing growth potential and others warning of high valuation and integration risks. Encora holders will own 21.25% of Coforge.

shorts/business/coforge-shares-rise-2-after-firm-announces-2-35-billion-acquisition-of-encora-here-s-what-brokerage-say

* Coforge to acquire US-based AI firm Encora in a $2.35 billion all-stock deal
* Coforge shares rose over 2 percent after the acquisition announcement
* Brokerages are split on the deal's impact, citing growth and valuation concerns

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a> rose more than 2 percent in the morning trading hours of December 29 after the IT firm said that it will acquire US-based engineering services company Encora in a $2.35-billion all-stock transaction.

The shares of the IT firm rose to Rs 1,711 apiece in the early trading hours of Monday, snapping a three-session losing streak. This comes even as brokerages remain divergent about their views on the impact of the acquisition of the AI firm.
<h3>Coforge to acquire US-based AI firm Encora:</h3>
In an exchange filing released in the post market hours of December 26, Coforge said that the<a href="https://www.moneycontrol.com/artificial-intelligence/coforge-to-acquire-us-based-encora-in-2-35-bn-all-stock-deal-board-approves-550-mn-fundraise-article-13744217.html"> acquisition will be executed through a share swap</a>, under which the company will issue 93.8 million equity shares at Rs 1,815.91 apiece, implying a non-cash consideration of about Rs 17,032 crore.

Encora shareholders will hold about 21.25 percent of Coforge’s post-issue equity capital.

"Coforge's acquisition of Encora will create a $2.5 billion Tech Services powerhouse with both the scale and capability across AI-led engineering, Cloud, and Data services to drive enterprise-grade AI-solutions," a release by the company read after it concluded its board meeting.

Earlier, <a href="https://www.moneycontrol.com/news/business/information-technology/coforge-in-talks-for-1-bn-plus-acquisition-board-to-weigh-fundraise-13742584.html">Moneycontrol</a> exclusively reported that Coforge is in advanced discussions to acquire Encora, potentially marking one of the largest transactions in the digital engineering space, citing sources.
<h3>Here's what brokerages say:</h3>
Macquarie remained bullish on the shares of the company, double-upgrading its rating to 'Outperform' from 'Underperform' and raising its target price to Rs 2,230 apiece. This implies an upside potential of over 33 percent from the stock's previous closing price.

The international brokerage believes that the acquisition of Encora will improve Coforge's service portfolio, and view this deal as a positive in the long term as it can accelerate Coforge's revenue growth, according to CNBC-TV18.

Macquarie now expects longer-term sustainable revenue growth to be 15-18 percent.

Elara Capital downgraded Coforge shares to ‘Reduce’ from ‘Accumulate’, and lowered its target price for the stock to Rs 1,720 per share from Rs 2,120 per share. The latest target price implies an upside potential of nearly 3 percent from the stock’s previous closing price.

The domestic brokerage noted that the acquisition will possibly help Coforge address its gaps in the North American market. However, valuations at EV/sales of 3.9x appear expensive considering that Encora posted only 7-10 percent organic revenue growth in the past two years, lower than Coforge’s revenue growth, it added.

“Historically (in FY21-25), Coforge had reported high teen revenue CAGR on account of stable management, strong order book and specialization in select verticals of BFS, Insurance and Travel. Encora’s organic revenue growth, on the other ha nd, was lower at 7-10%. Despite lower growth, COFORGE is acquiring Encora at 3.9X EV/sales and ~21x EV/EBITDA, in line with COFORGE ’s multiples, which appears expensive. So, we cut our target multiple for COFORGE from 39x to 34x to reflect higher valuation concern. Organically also, some costs for COFORGE witnessed an uptick in recent quarters, which may strain its margins, going ahead. Thus, we cut our earnings estimates by 7–8% for FY27E and FY28E, respectively,” it said.

Motilal Oswal Financial Services noted that the scale of transaction is large, therefore execution remains critical. Integration, leadership retention, margin management post-integration, and amortization will be the key monitorables. It however said that the vertical mix, primarily hi-tech and healthcare, is a positive, especially given Coforge’s strategic intent to scale these segments.

“We believe Coforge’s strong executable order book and resilient client spending across verticals bode well for its organic business. This acquisition expands Coforge’s presence in the Hi-Tech and Healthcare verticals, though we have not yet incorporated Encora's numbers into our valuation. We continue to view Coforge as a structurally strong mid-tier player well-placed to benefit from vendor consolidation/cost-takeout deals and digital transformation,” the domestic brokerage said, while reiterating its ‘Buy’ call on the stock and a target price of Rs 2,500 per share, implying an upside potential of 49 percent.

JM Financial said that the valuation looks rich given Encora’s 7 – 10 percent growth profile, CNBC-TV18 reported.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-liveblog-13745766.html">LIVE updates</a> 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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Coforge shares rise 2% after firm announces $2.35-billion acquisition of Encora; here's what brokerages say

The shares of Coforge rose more than 2 percent in the morning trading hours of December 29 after the IT firm said that it will acquire US-based engineering services company Encora in a $2.35-billion all-stock transaction.

The shares of the IT firm rose to Rs 1,711 apiece in the early trading hours of Monday, snapping a three-session losing streak. This comes even as brokerages remain divergent about their views on the impact of the acquisition of the AI firm.
Coforge to acquire US-based AI firm Encora:
In an exchange filing released in the post market hours of December 26, Coforge said that the acquisition will be executed through a share swap, under which the company will issue 93.8 million equity shares at Rs 1,815.91 apiece, implying a non-cash consideration of about Rs 17,032 crore.

Encora shareholders will hold about 21.25 percent of Coforge’s post-issue equity capital.

&quot;Coforge's acquisition of Encora will create a $2.5 billion Tech Services powerhouse with both the scale and capability across AI-led engineering, Cloud, and Data services to drive enterprise-grade AI-solutions,&quot; a release by the company read after it concluded its board meeting.

Earlier, Moneycontrol exclusively reported that Coforge is in advanced discussions to acquire Encora, potentially marking one of the largest transactions in the digital engineering space, citing sources.
Here's what brokerages say:
Macquarie remained bullish on the shares of the company, double-upgrading its rating to 'Outperform' from 'Underperform' and raising its target price to Rs 2,230 apiece. This implies an upside potential of over 33 percent from the stock's previous closing price.

The international brokerage believes that the acquisition of Encora will improve Coforge's service portfolio, and view this deal as a positive in the long term as it can accelerate Coforge's revenue growth, according to CNBC-TV18.

Macquarie now expects longer-term sustainable revenue growth to be 15-18 percent.

Elara Capital downgraded Coforge shares to ‘Reduce’ from ‘Accumulate’, and lowered its target price for the stock to Rs 1,720 per share from Rs 2,120 per share. The latest target price implies an upside potential of nearly 3 percent from the stock’s previous closing price.

The domestic brokerage noted that the acquisition will possibly help Coforge address its gaps in the North American market. However, valuations at EV/sales of 3.9x appear expensive considering that Encora posted only 7-10 percent organic revenue growth in the past two years, lower than Coforge’s revenue growth, it added.

“Historically (in FY21-25), Coforge had reported high teen revenue CAGR on account of stable management, strong order book and specialization in select verticals of BFS, Insurance and Travel. Encora’s organic revenue growth, on the other ha nd, was lower at 7-10%. Despite lower growth, COFORGE is acquiring Encora at 3.9X EV/sales and ~21x EV/EBITDA, in line with COFORGE ’s multiples, which appears expensive. So, we cut our target multiple for COFORGE from 39x to 34x to reflect higher valuation concern. Organically also, some costs for COFORGE witnessed an uptick in recent quarters, which may strain its margins, going ahead. Thus, we cut our earnings estimates by 7–8% for FY27E and FY28E, respectively,” it said.

Motilal Oswal Financial Services noted that the scale of transaction is large, therefore execution remains critical. Integration, leadership retention, margin management post-integration, and amortization will be the key monitorables. It however said that the vertical mix, primarily hi-tech and healthcare, is a positive, especially given Coforge’s strategic intent to scale these segments.

“We believe Coforge’s strong executable order book and resilient client spending across verticals bode well for its organic business. This acquisition expands Coforge’s presence in the Hi-Tech and Healthcare verticals, though we have not yet incorporated Encora's numbers into our valuation. We continue to view Coforge as a structurally strong mid-tier player well-placed to benefit from vendor consolidation/cost-takeout deals and digital transformation,” the domestic brokerage said, while reiterating its ‘Buy’ call on the stock and a target price of Rs 2,500 per share, implying an upside potential of 49 percent.

JM Financial said that the valuation looks rich given Encora’s 7 – 10 percent growth profile, CNBC-TV18 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.

A 2,000-year-old Buddhist site was discovered in Zehanpora, Baramulla, J&K., Excavation revealed stupas and monastic buildings from the Kushan period., PM Modi called the find a proud moment for India's cultural heritage.

* A 2,000-year-old Buddhist site was discovered in Zehanpora, Baramulla, J&K.
* Excavation revealed stupas and monastic buildings from the Kushan period.
* PM Modi called the find a proud moment for India's cultural heritage.

A 2,000-year-old Buddhist site was discovered in Zehanpora, Baramulla, Jammu and Kashmir, revealing stupas and monastic structures from the Kushan period. PM Modi called it a proud moment, highlighting Kashmir’s deep Buddhist heritage and ancient legacy.

shorts/india/archaeologists-uncover-2000-year-old-buddhist-site-in-kashmir-pm-modi-calls-it-proud-moment

<a href="https://www.moneycontrol.com/india/stockpricequote/cables-powerothers/diamondpowerinfrastructure/DC05">Diamond Power Infrastructure</a> share price gained 1 percent in the early trade on December 29 following the company received power cables supply worth Rs 66.18 crore.

At 09:19am, Diamond Power Infrastructure was quoting at Rs 141.70, up Rs 1.75, or 1.25 percent, on the BSE.

".... has received a letter of intent from Hild Projects, EPC contractor for supply of power cables worth Rs 66,18,25,690 exclusive GST," company said in its press release.

The purchased order has been awarded on Kms rate basis with PV Formulae which is to be executed between January 1, 2026 to June 30, 2026.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-liveblog-13745766.html">Catch all the market action on our live blog</a>

Earlier in this month the company received a letter of intent from Bondada Engineering for supply of power cables worth Rs 55,54,00,000.

Also, received a letter of intent worth Rs 57,58,40,000 from Rajesh Power Services to supply cables.

In the previous trading session, the share closed at Rs 139.95, down Rs 1.05, or 0.74 percent.

The share touched a 52-week high of Rs 185.10 and a 52-week low of Rs 81.00 on 17 July, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 24.39 percent below its 52-week high and 72.78 percent above its 52-week low.

The market capitalisation of the company stands at Rs 7,374.96 crore.

Diamond Power Infrastructure shares gain on power cables supply order

Diamond Power Infrastructure share price gained 1 percent in the early trade on December 29 following the company received power cables supply worth Rs 66.18 crore.

At 09:19am, Diamond Power Infrastructure was quoting at Rs 141.70, up Rs 1.75, or 1.25 percent, on the BSE.

&quot;.... has received a letter of intent from Hild Projects, EPC contractor for supply of power cables worth Rs 66,18,25,690 exclusive GST,&quot; company said in its press release.

The purchased order has been awarded on Kms rate basis with PV Formulae which is to be executed between January 1, 2026 to June 30, 2026.

Catch all the market action on our live blog

Earlier in this month the company received a letter of intent from Bondada Engineering for supply of power cables worth Rs 55,54,00,000.

Also, received a letter of intent worth Rs 57,58,40,000 from Rajesh Power Services to supply cables.

In the previous trading session, the share closed at Rs 139.95, down Rs 1.05, or 0.74 percent.

The share touched a 52-week high of Rs 185.10 and a 52-week low of Rs 81.00 on 17 July, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 24.39 percent below its 52-week high and 72.78 percent above its 52-week low.

The market capitalisation of the company stands at Rs 7,374.96 crore.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software-mediumsmall/avantel/A19">Avantel</a> share price rose marginally in the early trade on December 29 following a contract win worth of Rs 4.16 crore  for CAMC of satcom equipment’s from Ministry of Defence, Headquarters Naval Aviation.

At 09:18am, Avantel was quoting at Rs 160.25, up Rs 0.40, or 0.25 percent, on the BSE.

Earlier in this month, the company received a purchase order worth of Rs 13.82 crore for supply of satcom hub equipment’s from Centre For Railway Information Systems (CRIS).

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-liveblog-13745766.html">Catch all the market action on our live blog</a>

Last month, company received a purchase order worth of Rs 17.55 crores for supply of communication systems and purchase order worth of Rs 8.03 crores for supply of power amplifiers from Bharat Electronics.

In the previous trading session, the share closed at Rs 159.85, down Rs 1.80, or 1.11 percent.

The share touched a 52-week high of Rs 215.00 and a 52-week low of Rs 90.33 on 10 October, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 25.65 percent below its 52-week high and 76.96 percent above its 52-week low.

The market capitalisation of the company stands at Rs 4,243.49 crore.

Avantel wins contract from Defence Ministry; shares up marginally

Avantel share price rose marginally in the early trade on December 29 following a contract win worth of Rs 4.16 crore  for CAMC of satcom equipment’s from Ministry of Defence, Headquarters Naval Aviation.

At 09:18am, Avantel was quoting at Rs 160.25, up Rs 0.40, or 0.25 percent, on the BSE.

Earlier in this month, the company received a purchase order worth of Rs 13.82 crore for supply of satcom hub equipment’s from Centre For Railway Information Systems (CRIS).

Catch all the market action on our live blog

Last month, company received a purchase order worth of Rs 17.55 crores for supply of communication systems and purchase order worth of Rs 8.03 crores for supply of power amplifiers from Bharat Electronics.

In the previous trading session, the share closed at Rs 159.85, down Rs 1.80, or 1.11 percent.

The share touched a 52-week high of Rs 215.00 and a 52-week low of Rs 90.33 on 10 October, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 25.65 percent below its 52-week high and 76.96 percent above its 52-week low.

The market capitalisation of the company stands at Rs 4,243.49 crore.

Stocks like Coforge, Vedanta, Suzlon Energy, Akums Drugs and Pharmaceuticals, Diamond Power Infrastructure, Solarworld Energy Solutions, Punjab National Bank, and Timex Group India will be in focus on December 29.

shorts/business/stocks-to-watch-today-coforge-vedanta-diamond-power-solarworld-energy-timex-group-india-stylam-vikran-engg-suzlon-in-focus-on-29-december

Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, acquisitions, and appointments, here’s a quick look at which stocks will be in focus in today's trade:

Stocks to Watch

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a>

Coforge has signed a definitive agreement to acquire 100% shares of Encora from Advent International, Warburg Pincus, and other minority shareholders for Rs 17,032.6 crore. The enterprise value of the transaction is $2.35 billion.

The Board has approved the raising of funds of up to $550 million via a qualified institutional placement (QIP), which will be used to repay the term loan in Encora.

<a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticalsdrugs/sigachiindustries/SIL19">Sigachi Industries</a>

Amit Raj Sinha, Managing Director &amp; CEO of the company, was remanded on December 27 in connection with the ongoing investigation relating to the fire incident at the company’s Hyderabad unit in Pashamylaram, which occurred on June 30 this year.

The company has taken all necessary measures to ensure the continuity of its operations and day-to-day activities. In the interim, Lijo Stephen Chacko, Deputy Group CEO, will oversee the company’s operations.

Additionally, the Board will meet on December 31 to consider the raising of funds through the issuance of non-convertible debentures on a private placement basis.

<a href="https://www.moneycontrol.com/india/stockpricequote/hotels/viceroyhotels/VH04">Viceroy Hotels</a>

The shareholders of Viceroy Hotels have approved the acquisition of SLN Terminus Hotels and Resorts for Rs 206 crore.

<a href="https://www.moneycontrol.com/india/stockpricequote/finance-investments/lloydsenterprises/SGT">Lloyds Enterprises</a>

The company has entered into loan agreements to avail financial assistance of Rs 361 crore to meet the balance consideration toward the conversion of warrants of Lloyds Metals and Energy held by the company.

Additionally, the company’s subsidiary, Lloyds Engineering Works, has amended the Share Purchase Agreement originally entered into on July 30, 2024, for the acquisition of the remaining 12% equity stake in Techno Industries.

After completion of the acquisition, Lloyds Engineering Works will hold a 100% stake in Techno Industries.

<a href="https://www.moneycontrol.com/india/stockpricequote/miningminerals/vedanta/SG">Vedanta</a>

The company has been declared the successful bidder for the Depo Graphite–Vanadium block under the critical mineral auctions.

The receipt of the successful bidder status for the Depo Graphite–Vanadium block will further strengthen the company’s critical minerals portfolio.

<a href="https://www.moneycontrol.com/india/stockpricequote/power-generationdistribution/suzlonenergy/SE17">Suzlon Energy</a>

Vivek Srivastava has resigned as the Chief Executive Officer (CEO) – WTG Division of the company, effective December 26.

<a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticalsdrugs/akumsdrugspharmaceuticals/ADP03">Akums Drugs and Pharmaceuticals</a>

Rajkumar Bafna, President – Finance, designated as senior management personnel of the company, has resigned from his position effective December 31 due to personal reasons.

<a href="https://www.moneycontrol.com/india/stockpricequote/cables-powerothers/diamondpowerinfrastructure/DC05">Diamond Power Infrastructure</a>

The company has received a letter of intent from Hild Projects, an EPC contractor, for the supply of power cables worth Rs 66.18 crore.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software-mediumsmall/avantel/A19">Avantel</a>

The company has received a contract worth Rs 4.16 crore for CAMC of Satcom equipment from the Ministry of Defence, Headquarters Naval Aviation.

<a href="https://www.moneycontrol.com/india/stockpricequote/renewables/solarworldenergysolutions/SESL">Solarworld Energy Solutions</a>

The company has received a letter of award for an engineering, procurement, and construction (EPC) package for the development of a 250 MWac grid-connected solar PV project worth Rs 725.33 crore from NTPC Renewable Energy.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/punjabnationalbank/PNB05">Punjab National Bank</a>

The bank has reported a borrowal fraud of Rs 2,434 crore to the RBI against the erstwhile promoters of SREI Equipment Finance and SREI Infrastructure Finance.

These companies were successfully resolved under the Corporate Insolvency Resolution Process (CIRP) by the NCLT.

<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/timexgroupindia/TGI">Timex Group India</a>

Promoter Timex Group Luxury Watches BV will sell an 8.93% stake in the company via an offer-for-sale (OFS) on December 29–30.

The base issue size of the OFS is 4.47% equity (45.09 lakh shares), with a green shoe option of an additional 4.47% equity stake (45.09 lakh shares). The floor price has been fixed at Rs 275 per share.

<a href="https://www.moneycontrol.com/india/stockpricequote/infrastructure-general/nbccindia/NBC01">NBCC (India)</a>

A settlement has been reached between NBCC (India) and the Government of NCT of Delhi (GNCTD) to resolve the long-pending litigation regarding land admeasuring 42.46 acres in Sultanpur/Ghitorni village, Delhi.

As per the settlement, the total 42.46-acre Ghitorni land will be equally divided between NBCC and GNCTD, resulting in a 21.23-acre share for NBCC.

Further, for this 21.23 acres of land, GNCTD will execute a perpetual lease deed in favour of NBCC.

<a href="https://www.moneycontrol.com/india/stockpricequote/engineering-construction/vikranengineering/VEL01">Vikran Engineering</a>

The company has accepted Letters of Award (LOAs) from MP Urja Vikas Nigam for the implementation of grid-connected solar PV-based power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.

<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/stylamindustries/GL02">Stylam Industries</a>

Aica Kogyo Company has announced an open offer to acquire up to 44.06 lakh shares (representing a 26% equity stake) in Stylam Industries at Rs 2,250 per share.

Assuming full acceptance of the open offer, the total consideration payable by Aica Kogyo Company will be Rs 991.46 crore.

<a href="https://www.moneycontrol.com/india/stockpricequote/shipping/greateasternshippingcompany/GES">The Great Eastern Shipping Company</a>

The company has contracted to sell its 2002-built very large gas carrier, Jag Vishnu, of about 77,922 cbm, to an unaffiliated third party. The vessel will be delivered to the new buyer in Q4 FY26.

Bulk Deals

Roadstar Infra Investment Trust

WhiteOak Capital Mutual Fund has bought 1.17 crore units (equivalent to 2.57% of outstanding units) for Rs 70.5 crore at Rs 60 per unit.

However, JC Flowers Asset Reconstruction, the existing shareholder, offloaded 1.2 crore units (a 2.63% stake) in the infrastructure investment trust for Rs 71.99 crore at Rs 59.99 per unit.

<a href="https://www.moneycontrol.com/india/stockpricequote/householdpersonal-products/ravelcare/RL09">Ravelcare</a>

NAV Capital VCC – NAV Capital Emerging Star Fund has acquired 35,000 equity shares for Rs 49.47 lakh at Rs 141.35 per share, while Navbharat Investment Opportunities Fund bought 50,000 shares for Rs 68.22 lakh at Rs 136.45 per share. Additionally, Vineet Arora, the founder of both funds, picked up 35,000 shares for Rs 49.01 lakh at Rs 140.04 per share.

As of December 5, 2025, Navbharat Investment Opportunities Fund held a 1.12% stake, and NAV Capital VCC, through NAV Capital Emerging Star AAICN2612C, held a 2.04% stake in Ravelcare, the beauty and personal care brand.

Stock Trades Ex-Date for Consolidation of Shares

Caspian Corporate Services

Stock in F&amp;O ban

Sammaan Capital

Stocks to Watch Today: Coforge, Vedanta, Diamond Power, Solarworld Energy, Timex Group India, Stylam, Vikran Engg, Suzlon in focus on 29 December

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

Stocks to Watch

Coforge

Coforge has signed a definitive agreement to acquire 100% shares of Encora from Advent International, Warburg Pincus, and other minority shareholders for Rs 17,032.6 crore. The enterprise value of the transaction is $2.35 billion.

The Board has approved the raising of funds of up to $550 million via a qualified institutional placement (QIP), which will be used to repay the term loan in Encora.

Sigachi Industries

Amit Raj Sinha, Managing Director &amp;amp; CEO of the company, was remanded on December 27 in connection with the ongoing investigation relating to the fire incident at the company’s Hyderabad unit in Pashamylaram, which occurred on June 30 this year.

The company has taken all necessary measures to ensure the continuity of its operations and day-to-day activities. In the interim, Lijo Stephen Chacko, Deputy Group CEO, will oversee the company’s operations.

Additionally, the Board will meet on December 31 to consider the raising of funds through the issuance of non-convertible debentures on a private placement basis.

Viceroy Hotels

The shareholders of Viceroy Hotels have approved the acquisition of SLN Terminus Hotels and Resorts for Rs 206 crore.

Lloyds Enterprises

The company has entered into loan agreements to avail financial assistance of Rs 361 crore to meet the balance consideration toward the conversion of warrants of Lloyds Metals and Energy held by the company.

Additionally, the company’s subsidiary, Lloyds Engineering Works, has amended the Share Purchase Agreement originally entered into on July 30, 2024, for the acquisition of the remaining 12% equity stake in Techno Industries.

After completion of the acquisition, Lloyds Engineering Works will hold a 100% stake in Techno Industries.

Vedanta

The company has been declared the successful bidder for the Depo Graphite–Vanadium block under the critical mineral auctions.

The receipt of the successful bidder status for the Depo Graphite–Vanadium block will further strengthen the company’s critical minerals portfolio.

Suzlon Energy

Vivek Srivastava has resigned as the Chief Executive Officer (CEO) – WTG Division of the company, effective December 26.

Akums Drugs and Pharmaceuticals

Rajkumar Bafna, President – Finance, designated as senior management personnel of the company, has resigned from his position effective December 31 due to personal reasons.

Diamond Power Infrastructure

The company has received a letter of intent from Hild Projects, an EPC contractor, for the supply of power cables worth Rs 66.18 crore.

Avantel

The company has received a contract worth Rs 4.16 crore for CAMC of Satcom equipment from the Ministry of Defence, Headquarters Naval Aviation.

Solarworld Energy Solutions

The company has received a letter of award for an engineering, procurement, and construction (EPC) package for the development of a 250 MWac grid-connected solar PV project worth Rs 725.33 crore from NTPC Renewable Energy.

Punjab National Bank

The bank has reported a borrowal fraud of Rs 2,434 crore to the RBI against the erstwhile promoters of SREI Equipment Finance and SREI Infrastructure Finance.

These companies were successfully resolved under the Corporate Insolvency Resolution Process (CIRP) by the NCLT.

Timex Group India

Promoter Timex Group Luxury Watches BV will sell an 8.93% stake in the company via an offer-for-sale (OFS) on December 29–30.

The base issue size of the OFS is 4.47% equity (45.09 lakh shares), with a green shoe option of an additional 4.47% equity stake (45.09 lakh shares). The floor price has been fixed at Rs 275 per share.

NBCC (India)

A settlement has been reached between NBCC (India) and the Government of NCT of Delhi (GNCTD) to resolve the long-pending litigation regarding land admeasuring 42.46 acres in Sultanpur/Ghitorni village, Delhi.

As per the settlement, the total 42.46-acre Ghitorni land will be equally divided between NBCC and GNCTD, resulting in a 21.23-acre share for NBCC.

Further, for this 21.23 acres of land, GNCTD will execute a perpetual lease deed in favour of NBCC.

Vikran Engineering

The company has accepted Letters of Award (LOAs) from MP Urja Vikas Nigam for the implementation of grid-connected solar PV-based power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.

Stylam Industries

Aica Kogyo Company has announced an open offer to acquire up to 44.06 lakh shares (representing a 26% equity stake) in Stylam Industries at Rs 2,250 per share.

Assuming full acceptance of the open offer, the total consideration payable by Aica Kogyo Company will be Rs 991.46 crore.

The Great Eastern Shipping Company

The company has contracted to sell its 2002-built very large gas carrier, Jag Vishnu, of about 77,922 cbm, to an unaffiliated third party. The vessel will be delivered to the new buyer in Q4 FY26.

Bulk Deals

Roadstar Infra Investment Trust

WhiteOak Capital Mutual Fund has bought 1.17 crore units (equivalent to 2.57% of outstanding units) for Rs 70.5 crore at Rs 60 per unit.

However, JC Flowers Asset Reconstruction, the existing shareholder, offloaded 1.2 crore units (a 2.63% stake) in the infrastructure investment trust for Rs 71.99 crore at Rs 59.99 per unit.

Ravelcare

NAV Capital VCC – NAV Capital Emerging Star Fund has acquired 35,000 equity shares for Rs 49.47 lakh at Rs 141.35 per share, while Navbharat Investment Opportunities Fund bought 50,000 shares for Rs 68.22 lakh at Rs 136.45 per share. Additionally, Vineet Arora, the founder of both funds, picked up 35,000 shares for Rs 49.01 lakh at Rs 140.04 per share.

As of December 5, 2025, Navbharat Investment Opportunities Fund held a 1.12% stake, and NAV Capital VCC, through NAV Capital Emerging Star AAICN2612C, held a 2.04% stake in Ravelcare, the beauty and personal care brand.

Stock Trades Ex-Date for Consolidation of Shares

Caspian Corporate Services

Stock in F&amp;amp;O ban

Sammaan Capital

Roadstar Infra Investment Trust units were under pressure on Friday, falling 11.29 percent to Rs 62.10 amid big volumes on the BSE.

The Jana Nayagan audio launch, titled "Thalapathy Thiruvizha," will be held at Malaysia's Bukit Jalil Stadium on Dec 27, 2025, as a grand tribute to Vijay before his political career. The event features live music, star performances, and strict non-political rules.

shorts/business/whiteoak-capital-mf-picks-up-2-6-stake-in-roadstar-infra-investment-trust-nav-capital-buys-additional-1-7-shares-in-ravelcare

WhiteOak Capital Mutual Fund, a part of Prashant Khemka founded WhiteOak Capital Group, has acquired 2.57 percent stake in Roadstar Infra Investment Trust via open market transactions on December 26.

Roadstar Infra Investment Trust units were under pressure on Friday, falling 11.29 percent to Rs 62.10 amid big volumes on the BSE.

WhiteOak Capital Mutual Fund has bought 1.17 crore units (equivalent to 2.57 percent of outstanding units) for Rs 70.5 crore at Rs 60 per unit, as per the bulk deals data published on December 26.

However, JC Flowers Asset Reconstruction, the existing shareholder, offloaded 1.2 crore units (2.63 percent stake) in the infrastructure investment trust for Rs 71.99 crore at Rs 59.99 per unit.

The action was also seen in Ravelcare shares on Friday, which rallied 19.43 percent to Rs 140.75 after significant buying by NAV Capital.

NAV Capital VCC - NAV Capital Emerging Star Fund has acquired 35,000 equity shares for Rs 49.47 lakh at Rs 141.35 per share, and Navbharat Investment Opportunities Fund bought 50,000 shares for Rs 68.22 crore at Rs 136.45 per share, while founder of both these funds - Vineet Arora picked up 35,000 shares for Rs 49.01 lakh at Rs 140.04 per share.

As of December 5, 2025, Navbharat Investment Opportunities Fund was holding 1.12 percent stake and NAV Capital VCC through NAV Capital Emerging Star AAICN2612C 2.04 percent shares in <a href="https://www.moneycontrol.com/india/stockpricequote/householdpersonal-products/ravelcare/RL09">Ravelcare</a>, the beauty and personal care brand.

Meanwhile, Capacious Wealth Management bought 3.28 lakh shares in <a href="https://www.moneycontrol.com/india/stockpricequote/engineering-construction/marctechnocrats/MTL08">Marc Technocrats</a>, the infrastructure consultancy services provider, for Rs 2.2 crore at Rs 67.2 per share.

WhiteOak Capital MF picks up 2.6% stake in Roadstar Infra Investment Trust, NAV Capital buys additional 1.7% shares in Ravelcare

WhiteOak Capital Mutual Fund, a part of Prashant Khemka founded WhiteOak Capital Group, has acquired 2.57 percent stake in Roadstar Infra Investment Trust via open market transactions on December 26.

Roadstar Infra Investment Trust units were under pressure on Friday, falling 11.29 percent to Rs 62.10 amid big volumes on the BSE.

WhiteOak Capital Mutual Fund has bought 1.17 crore units (equivalent to 2.57 percent of outstanding units) for Rs 70.5 crore at Rs 60 per unit, as per the bulk deals data published on December 26.

However, JC Flowers Asset Reconstruction, the existing shareholder, offloaded 1.2 crore units (2.63 percent stake) in the infrastructure investment trust for Rs 71.99 crore at Rs 59.99 per unit.

The action was also seen in Ravelcare shares on Friday, which rallied 19.43 percent to Rs 140.75 after significant buying by NAV Capital.

NAV Capital VCC - NAV Capital Emerging Star Fund has acquired 35,000 equity shares for Rs 49.47 lakh at Rs 141.35 per share, and Navbharat Investment Opportunities Fund bought 50,000 shares for Rs 68.22 crore at Rs 136.45 per share, while founder of both these funds - Vineet Arora picked up 35,000 shares for Rs 49.01 lakh at Rs 140.04 per share.

As of December 5, 2025, Navbharat Investment Opportunities Fund was holding 1.12 percent stake and NAV Capital VCC through NAV Capital Emerging Star AAICN2612C 2.04 percent shares in Ravelcare, the beauty and personal care brand.

Meanwhile, Capacious Wealth Management bought 3.28 lakh shares in Marc Technocrats, the infrastructure consultancy services provider, for Rs 2.2 crore at Rs 67.2 per share.

Metals - Non Ferrous Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Metals - Non Ferrous industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

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Coforge shares rise 2% after firm announces $2.35-billion acquisition of Encora; here's what brokerages say

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Avantel wins contract from Defence Ministry; shares up marginally

Stocks to Watch Today: Coforge, Vedanta, Diamond Power, Solarworld Energy, Timex Group India, Stylam, Vikran Engg, Suzlon in focus on 29 December

WhiteOak Capital MF picks up 2.6% stake in Roadstar Infra Investment Trust, NAV Capital buys additional 1.7% shares in Ravelcare

Metals - Non Ferrous Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Metals - Non Ferrous industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Coforge shares rise 2% after firm announces $2.35-billion acquisition of Encora; here's what brokerages say

Diamond Power Infrastructure shares gain on power cables supply order

Avantel wins contract from Defence Ministry; shares up marginally

Stocks to Watch Today: Coforge, Vedanta, Diamond Power, Solarworld Energy, Timex Group India, Stylam, Vikran Engg, Suzlon in focus on 29 December

WhiteOak Capital MF picks up 2.6% stake in Roadstar Infra Investment Trust, NAV Capital buys additional 1.7% shares in Ravelcare

Metals - Non Ferrous Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Metals - Non Ferrous industry stocks.