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-5% to -3%

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Goa Carbon

PCBL Chemical

0% to 3%

3% to 5%

Swiggy on December 9 announced that it has fixed the floor price at Rs 390.51 per equity share for its QIP which opens today.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/online-services/swiggy/SL24">Swiggy</a> jumped more than 3 percent on December 9 after the company announced that its shareholders have approved the plan to raise Rs 10,000 crore through a qualified institutional placement (QIP).

The floor price marks a premium of nearly 1.2 percent over the stock's previous closing price of Rs 385.9 per share. The shares of the company closed at Rs 397.70 apiece on Tuesday.

In a regulatory filing released on December 8, Swiggy said the special resolution was<a href="https://www.moneycontrol.com/news/business/startup/swiggys-shareholders-rs-10000-crore-qip-kickstarts-after-getting-shareholders-nod-13716713.html"> passed at its extraordinary general meeting</a> (EGM). A total of 76.40 percent of shareholders participated in the vote, with 99.47 percent of the votes cast in favour of the proposed equity issuance.

Subsequently, Swiggy in an exchange filing released on December 9 said that its board has approved the floor price. It added that a company may offer a discount of not more than 5 percent on the floor price calculated for the issue.

The QIP opened today, December 9. Under the resolution, Swiggy is authorised to issue equity shares to eligible qualified institutional buyers for an amount not exceeding Rs 10,000 crore, giving it a significant war chest to fund expansion across food delivery, Instamart and newer business verticals.
<h3><strong>Swiggy share price:</strong></h3>
Swiggy shares have gained nearly 3 percent in the past one month, and over 9 percent in the past six months. The stock is however down nearly 27 percent in 2025 so far.

The stock had <a href="https://www.moneycontrol.com/news/business/ipo/swiggy-share-price-lists-at-rs-420-nearly-8pc-premium-over-ipo-price-12865354.html">listed Rs 420 per share</a> on NSE on November 13 last year, marking a premium of nearly 8 percent over the IPO price of Rs 390 per share. The stock then surged more than 58 percent from its IPO price in just over a month to hit a 52-week high of Rs 617.30 apiece in December 2024.

The stock however then dropped nearly 52 percent since then to hit a 52-week low of Rs 297 per share in May this year. The stock has now recovered around 34 percent since then to close at Rs 397.70 apiece on Tuesday. It is currently around 2 percent higher than the IPO price, but over 5 percent lower than the listing price.

<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>

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Swiggy’s Rs 10,000-crore QIP opens today, floor price set at Rs 390.51; shares up 3%

Swiggy on December 9 announced that it has fixed the floor price at Rs 390.51 per equity share for its QIP which opens today.

The shares of Swiggy jumped more than 3 percent on December 9 after the company announced that its shareholders have approved the plan to raise Rs 10,000 crore through a qualified institutional placement (QIP).

The floor price marks a premium of nearly 1.2 percent over the stock's previous closing price of Rs 385.9 per share. The shares of the company closed at Rs 397.70 apiece on Tuesday.

In a regulatory filing released on December 8, Swiggy said the special resolution was passed at its extraordinary general meeting (EGM). A total of 76.40 percent of shareholders participated in the vote, with 99.47 percent of the votes cast in favour of the proposed equity issuance.

Subsequently, Swiggy in an exchange filing released on December 9 said that its board has approved the floor price. It added that a company may offer a discount of not more than 5 percent on the floor price calculated for the issue.

The QIP opened today, December 9. Under the resolution, Swiggy is authorised to issue equity shares to eligible qualified institutional buyers for an amount not exceeding Rs 10,000 crore, giving it a significant war chest to fund expansion across food delivery, Instamart and newer business verticals.
Swiggy share price:
Swiggy shares have gained nearly 3 percent in the past one month, and over 9 percent in the past six months. The stock is however down nearly 27 percent in 2025 so far.

The stock had listed Rs 420 per share on NSE on November 13 last year, marking a premium of nearly 8 percent over the IPO price of Rs 390 per share. The stock then surged more than 58 percent from its IPO price in just over a month to hit a 52-week high of Rs 617.30 apiece in December 2024.

The stock however then dropped nearly 52 percent since then to hit a 52-week low of Rs 297 per share in May this year. The stock has now recovered around 34 percent since then to close at Rs 397.70 apiece on Tuesday. It is currently around 2 percent higher than the IPO price, but over 5 percent lower than the listing price.

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/finance-stock-broking/billionbrainsgarageventures/BGV01">Billionbrains Garage Ventures</a>, the parent company of leading stock broking platform Groww, dropped around 5 percent on December 9. This comes a day before the one-month shareholder lock-in period comes to an end on December 10.

The newly-listed shares dropped to Rs 144.20 apiece, snapping a two-session gaining streak. The stock is currently up 44 percent from its IPO price of Rs 100.

Around 14.92 crore shares, or approximately 2 percent of the company's outstanding equity, will become eligible for trading once the lock-in expires, CNBC-TV18 quoted Nuvama Alternative and Quantitative Research as saying. The said number of shares will be cumulatively worth more than Rs 2,262 crore based on the stock’s previous closing price of Rs 151.64 per share.

However, this does not imply that all these shares will be offloaded in the market immediately. The expiry of the lock-in period simply means that these shares can now be traded.
<h3><strong>How have Groww shares performed since listing?</strong></h3>
The shares of the company made a decent debut on stock markets on November 12, listing with a premium of 12 percent over the IPO price at Rs 112 apiece on NSE. The stock then surged around 94 percent from its IPO price in just five sessions to hit a high of Rs 193.80 apiece on November 18.

The stock has fallen nearly 26 percent since then. However, it is still up 44 percent from its IPO price, and 29 percent from its listing price of Rs 112 on NSE.
<h3><strong>Groww Q2 Results:</strong></h3>
Groww on November 21 reported a <a href="https://www.moneycontrol.com/news/business/earnings/groww-q2-results-net-profit-rises-12-yoy-to-rs-471-crore-revenue-falls-9-5-13689313.html">consolidated net profit of Rs 471.4 crore</a> for the second quarter of the ongoing financial year 2026. This marks a 12 percent year-on-year increase from the Rs 420.16 crore net profit reported in the corresponding quarter of FY25.

The broker’s revenue from operations meanwhile declined 9.5 percent YoY to Rs 1,018.7 crore in Q2 FY26, from Rs 1,125.39 crore in Q2 FY25.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-sensex-nifty50-today-9-december-2025-liveblog-13716480.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>

Groww shares fall 5% a day before one-month lock-in period expires; stock up 44% from IPO price

The shares of Billionbrains Garage Ventures, the parent company of leading stock broking platform Groww, dropped around 5 percent on December 9. This comes a day before the one-month shareholder lock-in period comes to an end on December 10.

The newly-listed shares dropped to Rs 144.20 apiece, snapping a two-session gaining streak. The stock is currently up 44 percent from its IPO price of Rs 100.

Around 14.92 crore shares, or approximately 2 percent of the company's outstanding equity, will become eligible for trading once the lock-in expires, CNBC-TV18 quoted Nuvama Alternative and Quantitative Research as saying. The said number of shares will be cumulatively worth more than Rs 2,262 crore based on the stock’s previous closing price of Rs 151.64 per share.

However, this does not imply that all these shares will be offloaded in the market immediately. The expiry of the lock-in period simply means that these shares can now be traded.
How have Groww shares performed since listing?
The shares of the company made a decent debut on stock markets on November 12, listing with a premium of 12 percent over the IPO price at Rs 112 apiece on NSE. The stock then surged around 94 percent from its IPO price in just five sessions to hit a high of Rs 193.80 apiece on November 18.

The stock has fallen nearly 26 percent since then. However, it is still up 44 percent from its IPO price, and 29 percent from its listing price of Rs 112 on NSE.
Groww Q2 Results:
Groww on November 21 reported a consolidated net profit of Rs 471.4 crore for the second quarter of the ongoing financial year 2026. This marks a 12 percent year-on-year increase from the Rs 420.16 crore net profit reported in the corresponding quarter of FY25.

The broker’s revenue from operations meanwhile declined 9.5 percent YoY to Rs 1,018.7 crore in Q2 FY26, from Rs 1,125.39 crore in Q2 FY25.

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> surged nearly 8 percent to their day's high on December 9, extending gains for the third consecutive session. This comes as the airline said that it has strengthened its fleet and operational capacity with the addition of two new Boeing 737 aircraft across key routes.

SpiceJet shares hit an intraday high of Rs 34.99 apiece on Tuesday, extending gains to 15 percent over three consecutive sessions as rival airline IndiGo faces mass disruptions. The stock then pared some gains to close around 6 percent higher in the green at Rs 34.31 per share.
<h3><strong>SpiceJet expands fleet capacity:</strong></h3>
SpiceJet on December 9 announced that it has <a href="https://www.moneycontrol.com/news/business/companies/spicejet-expands-fleet-capacity-with-two-new-boeing-737s-amid-indigo-crisis-13717336.html">inducted two Boeing 737 aircraft</a> into its fleet. The airline said that this will strengthen its "operational capability and capacity across key domestic and international routes".

"The addition comes at an important time for the airline as it continues to focus on improving connectivity, enhancing schedule reliability, and meeting rising passenger demand. With these inductions, SpiceJet aims to offer greater choice and flexibility to travellers during the peak travel season," SpiceJet said.

The two new aircraft have already entered into commercial service since end of November, and are deployed on key routes including Delhi-Bangkok, Ahmedabad-Dubai and Ahmedabad-Kolkata

SpiceJet CBO Debojo Maharshi said that the induction of the two Boeing 737 aircraft is another step in its efforts to expand capacity in a "calibrated and responsible manner". "We remain committed to providing reliable, efficient, and affordable air travel to our passengers while continuing to build a stronger and more resilient network," he added.
<h3><strong>IndiGo crisis:</strong></h3>
IndiGo's flight cancellations continued to persist on Tuesday, leading to widespread chaos at India's major airports. The Directorate General of Civil Aviation (DGCA) has ordered a <a href="https://www.moneycontrol.com/news/business/dgca-cuts-indigo-s-flights-by-5-after-crisis-asks-airline-to-submit-revised-schedule-13717183.html">5 percent reduction in IndiGo’s flight schedule</a> in the wake of widespread disruptions in airline's operations since December 2.

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>SpiceJet share price history:</strong></h3>
SpiceJet shares have risen marginally in the past one month. The stock has fallen over 21 percent in the past six months, and around 39 percent in 2025 so far.

Its P/E ratio on a consolidated basis stands at over 10.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-sensex-nifty50-today-9-december-2025-liveblog-13716480.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>

SpiceJet shares surge up to 8% as airline expands fleet capacity amid IndiGo crisis

The shares of SpiceJet surged nearly 8 percent to their day's high on December 9, extending gains for the third consecutive session. This comes as the airline said that it has strengthened its fleet and operational capacity with the addition of two new Boeing 737 aircraft across key routes.

SpiceJet shares hit an intraday high of Rs 34.99 apiece on Tuesday, extending gains to 15 percent over three consecutive sessions as rival airline IndiGo faces mass disruptions. The stock then pared some gains to close around 6 percent higher in the green at Rs 34.31 per share.
SpiceJet expands fleet capacity:
SpiceJet on December 9 announced that it has inducted two Boeing 737 aircraft into its fleet. The airline said that this will strengthen its &quot;operational capability and capacity across key domestic and international routes&quot;.

&quot;The addition comes at an important time for the airline as it continues to focus on improving connectivity, enhancing schedule reliability, and meeting rising passenger demand. With these inductions, SpiceJet aims to offer greater choice and flexibility to travellers during the peak travel season,&quot; SpiceJet said.

The two new aircraft have already entered into commercial service since end of November, and are deployed on key routes including Delhi-Bangkok, Ahmedabad-Dubai and Ahmedabad-Kolkata

SpiceJet CBO Debojo Maharshi said that the induction of the two Boeing 737 aircraft is another step in its efforts to expand capacity in a &quot;calibrated and responsible manner&quot;. &quot;We remain committed to providing reliable, efficient, and affordable air travel to our passengers while continuing to build a stronger and more resilient network,&quot; he added.
IndiGo crisis:
IndiGo's flight cancellations continued to persist on Tuesday, leading to widespread chaos at India's major airports. The Directorate General of Civil Aviation (DGCA) has ordered a 5 percent reduction in IndiGo’s flight schedule in the wake of widespread disruptions in airline's operations since December 2.

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.
SpiceJet share price history:
SpiceJet shares have risen marginally in the past one month. The stock has fallen over 21 percent in the past six months, and around 39 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.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/electronics-components/kaynestechnologyindia/KTI">Kaynes Technology</a> India jumped more than 14 percent on December 9, snapping a four-session losing streak as positive brokerage notes uplifted investor sentiment.

The stock closed at Rs 4,356 apiece on Tuesday. The sharp rebound comes after the stock declined nearly 30 percent over the past four sessions, causing huge market cap erosion for the EMS player.
<h3><strong>Macquarie on Kaynes Tech:</strong></h3>
Macquarie has maintained its 'Outperform' rating on Kaynes Tech shares, with a price target of Rs 7,700 apiece. This implies an upside potential of more than 102 percent from the stock's previous closing price of Rs 3,807 per share.

The international brokerage said that Kaynes Tech accepted disclosure shortfall in its analyst call on Monday, CNBC-TV18 reported. "The management clarification sounded reasonable, but doubts have been raised on so many aspects that water has been muddied," the brokerage wrote.

"Kaynes has set an aggressive path for higher value addition, international expansion, and backward integration that should establish its position as a leading ESDM company in India," it added.
<h3><strong>JPMorgan on Kaynes Tech:</strong></h3>
Kaynes Tech shares have emerged as the cheapest stock in JPMorgan's coverage after the sharp selloff, Economic Times reported. The international brokerage in its note reiterated its 'Overweight' stance on the stock.

This comes days after the JPMorgan advised investors to avoid "bottom fishing" 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.
<h3><strong>Kotak's allegations, Kaynes' clarification:</strong></h3>
In its note released on December 3, 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>Kaynes Tech admits to accounting lapses:</strong></h3>
Kaynes Technology on Monday admitted that a related-party transaction with its smart-metering subsidiary Iskraemeco <a href="https://www.moneycontrol.com/news/business/markets/kaynes-tech-admits-reporting-lapse-clarifies-goodwill-receivables-auditor-change-likely-after-bruising-brokerage-triggered-selloff-13715608.html">had not been disclosed </a>in its standalone FY24 financials, though it was correctly reported in the consolidated results. "They accepted it as a mistake. The auditor also missed it. They said they will rectify the disclosure and are likely to change the auditor,” said Praveen Sahay, analyst at PL Capital.

Elara Securities' post-call note added that Kaynes intends to strengthen internal reporting by introducing software that ensures automatic contra-entry checks and may 'contemplate replacing current auditors with more reputed firms'.
<h3><strong>Kaynes Tech share price history:</strong></h3>
Kaynes Tech shares have fallen nearly 33 percent in the past one month, and are down around 43 percent in 2025 so far. Its P/E ratio stands at over 80.

The company currently has a market capitalization of nearly Rs 29,200 crore.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-sensex-nifty50-today-9-december-2025-liveblog-13716480.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 jump 14%, snap 4-day losing streak: Macquarie sees 102% upside

The shares of Kaynes Technology India jumped more than 14 percent on December 9, snapping a four-session losing streak as positive brokerage notes uplifted investor sentiment.

The stock closed at Rs 4,356 apiece on Tuesday. The sharp rebound comes after the stock declined nearly 30 percent over the past four sessions, causing huge market cap erosion for the EMS player.
Macquarie on Kaynes Tech:
Macquarie has maintained its 'Outperform' rating on Kaynes Tech shares, with a price target of Rs 7,700 apiece. This implies an upside potential of more than 102 percent from the stock's previous closing price of Rs 3,807 per share.

The international brokerage said that Kaynes Tech accepted disclosure shortfall in its analyst call on Monday, CNBC-TV18 reported. &quot;The management clarification sounded reasonable, but doubts have been raised on so many aspects that water has been muddied,&quot; the brokerage wrote.

&quot;Kaynes has set an aggressive path for higher value addition, international expansion, and backward integration that should establish its position as a leading ESDM company in India,&quot; it added.
JPMorgan on Kaynes Tech:
Kaynes Tech shares have emerged as the cheapest stock in JPMorgan's coverage after the sharp selloff, Economic Times reported. The international brokerage in its note reiterated its 'Overweight' stance on the stock.

This comes days after the 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.
Kotak's allegations, Kaynes' clarification:
In its note released on December 3, 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. &quot;This has been rectified and has been noted for future compliance. This transaction was part of the overall financial statement in both the entities,&quot; 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.
Kaynes Tech admits to accounting lapses:
Kaynes Technology on Monday admitted that a related-party transaction with its smart-metering subsidiary Iskraemeco had not been disclosed in its standalone FY24 financials, though it was correctly reported in the consolidated results. &quot;They accepted it as a mistake. The auditor also missed it. They said they will rectify the disclosure and are likely to change the auditor,” said Praveen Sahay, analyst at PL Capital.

Elara Securities' post-call note added that Kaynes intends to strengthen internal reporting by introducing software that ensures automatic contra-entry checks and may 'contemplate replacing current auditors with more reputed firms'.
Kaynes Tech share price history:
Kaynes Tech shares have fallen nearly 33 percent in the past one month, and are down around 43 percent in 2025 so far. Its P/E ratio stands at over 80.

The company currently has a market capitalization of nearly Rs 29,200 crore.

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 Indian IT companies dropped in trade on December 9 as investors remain cautious ahead of the Federal Reserve's FOMC meeting outcome scheduled for tomorrow.

The sharp drop in share prices pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-it-19.html">Nifty IT index</a> down around 1.2 percent to close at 38,130.60. The index has now extended losses for the second consecutive day.

The US Federal Reserve is holding its FOMC meeting from December 9 to December 10. Analysts expect the Fed to make a "hawkish cut", where the language of the statement, median forecasts and Chair Jerome Powell's press conference point to a higher bar for further rate reduction.

The Federal Open Market Committee, which sets monetary policy, is expected to announce on Wednesday that it will lower the benchmark rate by 25 basis points.
<h3><strong>Here's what analysts say:</strong></h3>
"Sentiment weakened primarily due to rising caution ahead of the upcoming Fed meeting, with investors worried about the possibility of a tighter global monetary stance and its spillover impact on emerging markets," said Ajit Mishra – SVP, Research, Religare Broking.

The​‍​‌‍​‍‌​‍​‌‍​‍‌ Indian IT industry has suffered a blow lately after international customers reduced their spending on non-essential activities, deal pipelines have become very slim and foreign investors, being apprehensive about the macro risks, are still selling, said Siddharth Maurya, Founder &amp; Managing Director, Vibhavangal Anukulakara.

"Automation and AI are changing the IT sector, but the doubt will probably still be there until clients confirm new outsourcing deals. However, market prices have already factored in most of the negative scenario and dividend returns are quite appealing. In fact, this may turn into a value investment situation for long-term, contrarian investors who are willing to tolerate the volatility, over the next 12-18 ​‍​‌‍​‍‌​‍​‌‍​‍‌months," he said.
<h3><strong>Top IT losers today:</strong></h3>
IT index was the top sectoral loser on the index today. Coforge shares were the top loser on the index, falling more than 4 percent to trade at Rs 1,870.70 apiece.

Tech Mahindra, HCL Technologies and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/wipro/W">Wipro</a> shares fell around 2 percent each, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">Tata Consultancy Services</a> (TCS), <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a>, Mphasis, <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/ltimindtree/LI12">LTIMindtree</a> and Persistent Systems shares fell nearly 1 percent each.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-sensex-nifty50-today-9-december-2025-liveblog-13716480.html">LIVE updates</a> from the stock markets here.

<em>(With inputs from Reuters)</em>

<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>

Coforge, TCS, HCLTech, other IT stocks decline up to 4% despite Fed rate cut hopes: Here's why

The shares of Indian IT companies dropped in trade on December 9 as investors remain cautious ahead of the Federal Reserve's FOMC meeting outcome scheduled for tomorrow.

The sharp drop in share prices pushed the Nifty IT index down around 1.2 percent to close at 38,130.60. The index has now extended losses for the second consecutive day.

The US Federal Reserve is holding its FOMC meeting from December 9 to December 10. Analysts expect the Fed to make a &quot;hawkish cut&quot;, where the language of the statement, median forecasts and Chair Jerome Powell's press conference point to a higher bar for further rate reduction.

The Federal Open Market Committee, which sets monetary policy, is expected to announce on Wednesday that it will lower the benchmark rate by 25 basis points.
Here's what analysts say:
&quot;Sentiment weakened primarily due to rising caution ahead of the upcoming Fed meeting, with investors worried about the possibility of a tighter global monetary stance and its spillover impact on emerging markets,&quot; said Ajit Mishra – SVP, Research, Religare Broking.

The​‍​‌‍​‍‌​‍​‌‍​‍‌ Indian IT industry has suffered a blow lately after international customers reduced their spending on non-essential activities, deal pipelines have become very slim and foreign investors, being apprehensive about the macro risks, are still selling, said Siddharth Maurya, Founder &amp;amp; Managing Director, Vibhavangal Anukulakara.

&quot;Automation and AI are changing the IT sector, but the doubt will probably still be there until clients confirm new outsourcing deals. However, market prices have already factored in most of the negative scenario and dividend returns are quite appealing. In fact, this may turn into a value investment situation for long-term, contrarian investors who are willing to tolerate the volatility, over the next 12-18 ​‍​‌‍​‍‌​‍​‌‍​‍‌months,&quot; he said.
Top IT losers today:
IT index was the top sectoral loser on the index today. Coforge shares were the top loser on the index, falling more than 4 percent to trade at Rs 1,870.70 apiece.

Tech Mahindra, HCL Technologies and Wipro shares fell around 2 percent each, while Tata Consultancy Services (TCS), Infosys, Mphasis, LTIMindtree and Persistent Systems shares fell nearly 1 percent each.

Follow all LIVE updates from the stock markets here.

(With inputs from Reuters)

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.

Carbon Black Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Carbon Black industry stocks.

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Earnings Review-Q2 FY25-26

Stock News

Swiggy’s Rs 10,000-crore QIP opens today, floor price set at Rs 390.51; shares up 3%

Groww shares fall 5% a day before one-month lock-in period expires; stock up 44% from IPO price

SpiceJet shares surge up to 8% as airline expands fleet capacity amid IndiGo crisis

Kaynes Tech shares jump 14%, snap 4-day losing streak: Macquarie sees 102% upside

Coforge, TCS, HCLTech, other IT stocks decline up to 4% despite Fed rate cut hopes: Here's why

Carbon Black Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Carbon Black industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Swiggy’s Rs 10,000-crore QIP opens today, floor price set at Rs 390.51; shares up 3%

Groww shares fall 5% a day before one-month lock-in period expires; stock up 44% from IPO price

SpiceJet shares surge up to 8% as airline expands fleet capacity amid IndiGo crisis

Kaynes Tech shares jump 14%, snap 4-day losing streak: Macquarie sees 102% upside

Coforge, TCS, HCLTech, other IT stocks decline up to 4% despite Fed rate cut hopes: Here's why

Carbon Black Industry Stocks
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