Author: Abizar Attari
News Editor

Mumbai: Corona Remedies’ IPO closed on December 10 with an overwhelming investor demand, with the issue oversubscribed 137 times, making it one of the strongest issues in the pharma sector. The pure Offer For Sale (OFS) issue received bids for 62.65 crore shares against the 45.72 lakh shares on offer. The Retail investor quota was oversubscribed 28.73 times, and the Qualified Institutional Buyers (QIB) quota was oversubscribed 278 times. The Non Institutional Investors (NII) segment was filled 208 times. Allottees can expect gains of 27.04% over the issue price, as per the latest GMP tracked by Investorgain. The company has…

Bengaluru: One of India’s leading crane and construction equipment manufacturers, Action Construction Equipment Ltd (ACE) has signed a Memorandum of Understanding (MoU) with Sanghvi Movers Ltd to promote its indigenously manufactured construction equipment.  According to the MoU, Sanghvi Movers will scale up its fleet with ACE’s heavy cranes, boosting the use of indigenous machinery in the ever-growing construction industry in India. ACE currently holds a 63% market share in mobile (pick and carry) cranes and another 60-65% market share in tower cranes in India. The company is facing increasing competition from low-cost Chinese competitors in crawler cranes and truck cranes,…

Mumbai: India’s largest IT firm, Tata Consultancy Services (TCS) has announced its largest acquisition to date, buying US-based Salesforce Summit consultancy firm Coastal Cloud for $700 million. This move will help TCS become one of the top 5 Salesforce Summit partners, after its October acquisition of ListEngage for $72.8 million. Under CEO Eric Berridge, Coastal Cloud has built a strong client portfolio across multiple industries, giving TCS greater access to the mid-market segment, while allowing various cross selling synergies for both firms customer bases. The company employs 400 professionals and has more than 3,000 multi-cloud certifications, strengthening TCS’ Salesforce advisory…

Mumbai: Specialty chemicals maker Anupam Rasayan India has announced its acquisition of US-based Jayhawk Fine Chemicals in a deal worth $150 million. This move aims to help the Surat-based company to expand its manufacturing presence outside India, with an aim to diversify beyond its strengths in agrochemicals. Jayhawk Fine Chemicals, a subsidiary of specialty chemicals firm CABB, is known for its expertise in manufacturing chemicals crucial for electronics including smartphones, EVs, aerospace components and 5G equipment. The company has a wide portfolio of long standing clients for high-purity chemicals.  “With Jayhawk, we move forward in the value chain, closer to…

New Delhi/Manila: The Asian Development Bank (ADB) has raised its growth projection for India from 6.5% to 7.2% for 2025-26, citing encouraging domestic demand and exports of technology goods as key drivers. The Pre-Diwali GST 2.0 gift has also played a role here, even as the unreasonable US tariffs have affected certain sectors of the economy.  The September quarter has been particularly encouraging, with India’s GDP growth rising to 8.2%, a 6-month high. In fact, India witnessed its first deflation in a decade, encouraging the RBI to cut the repo rate to 5.25% earlier this month. The Central Bank also…

Mumbai: India’s pharmaceutical market continues to grow in single digits, though the growth has remained consistent so far, a report by Nomura has revealed. Sales have grown 9% YoY for November, a decline from 9.5% recorded in October this year. The sector last recorded single-digit growth in October 2023 mostly due to seasonal reasons, the report added. The growth was led by cardiac and anti-diabetic drug segments, which recorded the fastest expansion amongst therapy classes, with cardiac therapy recording 16% rise in sales and anti-diabetic drugs recording a 13% rise. Other major therapies included neurotherapy and gynaecology, which have grown…

After months of declining values, Bitcoin (BTC) has staged a modest rebound to around $92,000 after it fell below $85,000 a month ago following heavy selloffs by institutional investors. Prior to this, 2025 had seen Bitcoin’s value rise dramatically to over $1,20,000 in June, reaching a market cap of over $2.41 trillion. The demand for newly mined or resale of Bitcoin remains tepid, given that the brief rally hasn’t been a broad conviction. Though Bitcoin ETF inflows are now positive, the market remains structurally weak, as investors are still waiting for the US Federal Reserve’s upcoming economic policy changes. The…

Mumbai: Real Estate developer Hubtown Ltd reported a strong uptick in its presale bookings reaching ₹3,547 crores as on November 2025, a 19% YoY growth. The surge reflects the increased demand for housing across Mumbai, including projects targeted for mid-range and premium customers. According to a press release to the bourses, Hubtown is currently developing almost 23.1 million sq ft of saleable projects, across the financial capital, with the majority being residential properties. The company is currently looking to merge its marquee ultra-luxury properties including 25 West (Bandra), 25 South (Prabhadevi) and 25 Downtown (Mahalaxmi) into its listed entity. This…

Mumbai: Balu Forge Industries has announced the commencement of empty shells for the defence forces from its new automated facility in Belgaum, Karnataka. The production line has been developed in partnership with Japanese robotics leader FANUC Robotics, and is designed for near-total automation, with an annual output of 3,60,000 shells. The new line uses automated robotic machining and handling systems, reducing the reliance on manual labour and enhancing precision in its manufacturing processes. The entire forging line has achieved near 100% automation in collaboration with FANUC Robotics, making it one of India’s most advanced manufacturing facilities. Over 18 machinery manufacturers…

Washington, DC: The world’s eyes are on Jerome Powell as he is widely expected to declare another rate cut following the Federal Open Market Committee (FOMC) meeting of the United States Federal Reserve (US Fed) on December 10. At its October meeting, the US central bank cut interest rates by 25 basis points (bps) after evaluating economic data and prevailing US economic conditions. For Fed Reserve Chair Jerome Powell, this could be a particularly challenging decision as an increase in interest rates could eventually affect the US labour market, which is already reeling with 4.4% unemployment as per the latest…