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The Transportation Infrastructure business vertical of L&T has won a significant order for Hyderabad Greenfield Radial Road. According to the company's project classification, the order is valued between Rs 1,000 crore and Rs 2,500 crore.
This order pertains to Phase-2 of the Greenfield Radial Road, wherein a 22.3 km 3+3 lane access-controlled radial road is being constructed in the Ranga Reddy district.
L&T's scope involves construction of a 3.6 km long viaduct, minor bridges, underpasses and culverts. Construction of service roads on both sides, extensive retention structures, storm water drainage system, footpaths, cycle track and landscaping works is also in L&T's scope.
This is the first of several planned radial roads linking Hyderabad's outer ring road to the upcoming regional ring road. It will improve regional connectivity and support growth, providing better access to IT hubs, Electronic City, the Young India Skills University and the Bharat Future City.
As per L&T’s internal classification, the contract falls under the ‘significant’ category, with an estimated value in the range of Rs 1,000 crore to Rs 2,500 crore.
The order covers Phase-2 of the Greenfield Radial Road, involving construction of a 22.3 km, 3+3 lane access-controlled radial road in Ranga Reddy district. L&T’s scope includes a 3.6 km viaduct, minor bridges, underpasses, culverts, service roads on both sides, retention structures, storm water drainage, footpaths, cycle tracks, and landscaping.
This is the first of several planned radial roads linking Hyderabad’s Outer Ring Road to the upcoming regional ring road. The project aims to enhance regional connectivity and support development by improving access to IT hubs, Electronic City, the Young India Skills University, and Bharat Future City.
Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. The company reported a 15.6% jump in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue from operations to Rs 67,983.53 crore in Q2 FY26 over Q2 FY25.
Shares of Larsen & Toubro rose 0.01% to currently trade at Rs 4,045.35 on the BSE.
Media, FMCG and PSU Bank shares advanced while consumer durables, IT and realty shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 345.91 points or 0.41% to 84,695.54. The Nifty 50 index lost 100.20 points or 0.38% to 25,942.10.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.45% and the S&P BSE Small-Cap index fell 0.58%.
The market breadth was weak. On the BSE, 1,579 shares rose and 2,730 shares fell. A total of 212 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9725 compared with its close of 89.9000 during the previous trading session.
Economy:
The Index of Industrial Production (IIP) grew 6.7% year-on-year in November, compared with a 0.4% expansion in October, marking a two-year high in factory output. Growth was led by the manufacturing sector, which expanded 8%, driven by higher production of basic and fabricated metal products, pharmaceuticals, and motor vehicles. Improved performance in the mining sector also supported the overall rise in IIP, with output increasing 5.4% in November compared with a contraction of 1.8% in October.
Buzzing Index:
The Nifty Consumer Durables index declined 0.91% to 36,487.40. The index rose 0.34% in the past trading session.
Dixon Technologies (India) (down 3.93%), Amber Enterprises India (down 2.35%), Blue Star (down 1.98%), PG Electroplast (down 1.25%) and Kalyan Jewellers India (down 1.1%), Century Plyboards (India) (down 0.97%), Bata India (down 0.96%), Cera Sanitaryware (down 0.79%), Crompton Greaves Consumer Electricals (down 0.74%) and Kajaria Ceramics (down 0.44%) declined.
Stocks in Spotlight:
Larsen & Toubro (L&T) shed 0.26%. The company announced that its transportation infrastructure business vertical has secured a significant order for Hyderabad Greenfield Radial Road.
Coforge rose 0.22%. The company said that it has signed definitive agreements to acquire Encora, an AI native firm born in the Silicon Valley with deep strengths across AI driven engineering underlaid by Cloud and Data.
Siyaram Recycling Industries added 1.55% after the company has secured a significant order from The Supreme Industries, Jalgaon (F) – MDP, for the supply of 1/2' female insert (new modified) and female insert 1/2' CPVC/aqua topper.
Ceigall India gained 2.91% after the company’s subsidiary, Ceigall Infra Projects has received a LoA from Madhya Pradesh Road Development Corporation for the construction of the Indore–Ujjain access-controlled four-lane greenfield highway.
Vikran Engineering rose 2.23% after it has secured letter of awards (LoA) from M.P. Urja Vikas Nigam for the implementation of power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.
Jindal Steel rose 0.50%. The company announced a significant expansion of its structural steel manufacturing capabilities at its Raigarh facility. This expansion would double the company’s existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028.
VA Tech Wabag declined 1.62%. The company has received a letter of award from the Saudi Water Authority for a large repeat EPC order to build a 50 MLD advanced BWRO plant at Aljouf, Saudi Arabia.
Solarworld Energy Solutions climbed 4.11% after the company announced that it has received a letter of award for the EPC package for the development of a 250 MWac grid-connected solar PV project worth Rs 725.33 crore from NTPC Renewable Energy.
Global Markets:
European market declined, while most Asian markets ended higher on Monday as investors kicked off the final trading week of the year.
Prices of spot silver rose to a fresh record high of above $80 per ounce before pulling back sharply to $77. Silver’s recent surge was driven by speculative buying and lingering supply tightness, said experts.
Media report further stated silver’s rally this year reflects a depletion of freely traded inventory, amplifying price moves as demand increases.
On Friday stateside, the S&P 500 reached a new high and posted weekly gains as traders came back from the Christmas holiday.
The broad market index closed down 0.03% to end at 6,929.94. At its high, the S&P 500 was up 0.2%, reaching 6,945.77. The Nasdaq Composite slipped 0.09% and closed at 23,593.10. The Dow Jones Industrial Average fell 20.19 points, or 0.04%, and settled at 48,710.97.
In the week ended on Friday, 26 December 2025, the S&P BSE Sensex advanced 112.09 points or 0.13% to settle at 85,041.45. The Nifty 50 index added 75.90 points or 0.29% to settle at 26,042.30. The BSE Mid-Cap index advanced 0.37% to close at 46,721.04. The BSE Small-Cap added 1.02% to end at 51,318.60.
Weekly Index Movement:
The domestic equity benchmarks closed higher on Monday, extending gains for a second straight session. The S&P BSE Sensex jumped 638.12 points or 0.75% to 85,576.48. The Nifty 50 index gained 206 points or 0.79% to 26,172.40. In the two consecutive trading sessions, the Sensex and Nifty jumped 1.3% and 1.38%, respectively.
Benchmark equity indices ended Tuesday’s session largely flat as volatility persisted around the weekly expiry of Nifty futures. The S&P BSE Sensex declined 42.64 points or 0.05% to 85,524.84. The Nifty 50 index rose 4.75 points or 0.02% to 26,177.15.
Domesic equity benchmarks slipped into the red on Wednesday in a quiet, pre-Christmas session marked by light volumes and subdued risk-taking. The S&P BSE Sensex declined 116.14 points or 0.14% to 85,408.70. The Nifty 50 index fell 35.05 points or 0.13% to 26,142.10.
The stock market was closed on Thursday, 25 December 2025 on account of Christmas.
The key equity barometers ended with modest cuts on Friday as profit booking in a holiday-truncated week and sustained selling by foreign institutional investors (FIIs) weighed on market sentiment while investors preferred to stay on the sidelines ahead of upcoming earnings announcements.
India-New Zealand Agreement:
India and New Zealand have concluded a comprehensive and forward looking Free Trade Agreement, marking a significant economic and strategic step in India’s Indo Pacific engagement. The pact opens up opportunities for Indian service providers across high value sectors such as IT, professional services, education, finance, tourism and construction. As part of the agreement, New Zealand has committed to facilitate $20 billion of investments into India over the next 15 years, supporting manufacturing, infrastructure, innovation and jobs, while also enabling Indian companies to expand their presence in New Zealand and the wider Pacific region.
The Index of Eight Core Industries rose 1.8% year-on-year in November, driven by higher output of cement, steel, fertilisers and coal. Cement production grew 14.5%, fertilisers 5.6%, steel 6.1% and coal 2.1%, while crude oil output fell 3.2% and natural gas production declined 2.5%. The index tracks eight sectors that together account for over 40% of the weight in the Index of Industrial Production.
Larsen & Toubro (L&T) shed 0.71%. The company announced that its Hydrocarbon Onshore business vertical (L&T Onshore) has secured a major engineering, procurement, construction and commissioning (EPCC) order from Bharat Petroleum Corporation (BPCL).
Belrise Industries surged 10.01%. The company announced a strategic agreement with Israel-based Plasan Sasa. Under the agreement, the two companies will jointly identify and pursue defence-related business opportunities in India.
Varun Beverages rose 2.85%. The company shared details of its proposed acquisition of South Africa based Twizza Proprietary. The company said the acquisition will be executed through its wholly owned subsidiary in South Africa. The proposed transaction involves the purchase of 100% equity in Twizza at an enterprise value of about ZAR 2,095 million, or roughly Rs 1,118.7 crore.
Vikran Engineering jumped 13.14%. The company announced a major solar EPC order win. The company has secured a work order worth Rs 2,035.26 crore from Onix Renewables to set up 600 MW AC solar power projects across multiple locations in Maharashtra. The order will be executed on a turnkey EPC basis.
Sunita Tools rose 2.9%. The company announced a strategic memorandum of understanding with a Middle East-based partner to support an upcoming defence order.
Crompton Greaves Consumer Electricals gained 0.49%. The company announced that it has received an order worth Rs 46.20 crore from Maharashtra State Electricity Distribution Company (MSEDCL). The order covers 2,000 solar water pumping systems, with a total work order value of Rs 46,20,48,229.
Antony Waste Handling Cell rose 0.64%. The company announced that its arm, Antony Lara Enviro Solutions, has secured a contract worth Rs 329.45 crore for the development of a mixed solid waste processing plant in Maharashtra.
UK economy grew by 0.1% in the July-to-September period of this year, the Office for National Statistics said on Monday, in line with its initial estimate.
Singapore's inflation in November remained steady at 1.2%. Core inflation in the city-state, which strips out prices of private transport and accommodation, also came in at 1.2%, compared to expectations of 1.3%.
The People’s Bank of China kept its 1-year and 5-year loan prime rates unchanged at 3% and 3.5% respectively
The annual inflation rate in the U.S. eased to 2.7% in November 2025, marking its lowest level since July. The reading was lower than the 3% recorded in September, offering further relief on the inflation front.
US GDP grew 4.3% in third quarter compared with 3.8% growth recorded in Second quarter. This is also the highest quarterly GDP growth in the US economy in the past 2 years.
Market participants will closely monitoring rupee movement, FII activity, IPO-related developments, and global cues. The Nifty traded above the 26,150 mark.
Realty shares rebounded after declining in the past trading session.
At 12:25 ST, the barometer index, the S&P BSE Sensex advanced 12.16 points or 0.04% to 85,558.87. The Nifty 50 index advanced 15.70 points or 0.06% to 26,192.85.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.22% and the S&P BSE Small-Cap index added 0.14%.
The market breadth was positive. On the BSE, 2,044 shares rose and 1,895 shares fell. A total of 197 shares were unchanged.
The stock market will be closed tomorrow, 25 December 2025, on account of Christmas.
On 23 December 2025, Reserve Bank of India (RBI) stated that on a review of current liquidity, it has decided to conduct the operations to inject liquidity into the banking system. It includes open market operations (OMO) purchase auctions of Government of India securities for an aggregate amount of Rs 2,00,000 crore in four tranches of Rs 50,000 crore each to be held on December 29, 2025, January 05, 2026, January 12, 2026, and January 22, 2026 and USD/INR Buy/Sell Swap auction of $10 billion for a tenor of 3 years to be held on January 13, 2026.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.57% to 9.23. The Nifty 30 December 2025 futures were trading at 26,235, at a premium of 42.15 points as compared with the spot at 26,192.85.
The Nifty option chain for the 30 December 2025 expiry showed a maximum call OI of 154 lakh contracts at the 26,200 strike price. Maximum put OI of 163.7 lakh contracts was seen at 26,200 strike price.
The Nifty Realty index rose 0.38% to 887.05. The index declined 0.17% in the past trading session.
Oberoi Realty (up 1.22%), Anant Raj (up 1.05%), Phoenix Mills (up 0.77%), Godrej Properties (up 0.52%), DLF (up 0.27%), Prestige Estates Projects (up 0.04%) and SignatureGlobal India (up 0.04%) surged.
Larsen & Toubro (L&T) shed 0.03%. The company announced that its transportation infrastructure business vertical has secured a significant order for Mumbai metro railway project. As per L&T’s internal classification, the contract falls under the ‘significant’ category, with an estimated value in the range of Rs 1,000 crore to Rs 2,500 crore.
Captain Polyplast rallied 2.37% after the company announced that it has received an additional empanelment for 1,000 solar pumps under the PM KUSUM B scheme from MSEDCL, with an aggregate order value of Rs 27.69 crore.
Monarch Surveyors and Engineering Consultants added 0.42% after the company secured a contract worth Rs 7.83 crore from the Nashik Municipal Corporation.
The Transportation Infrastructure business vertical of L&T has won significant order for Mumbai metro railway project. According to the company's project classification, the value of the order is in the range of Rs 1,000 crore to Rs 2,500 crore.
The Mumbai metro railway project, Package CA-298, awarded by Mumbai metropolitan Region Development Authority (MMRDA), pertains to the electrification of 24.72 Km long Line 4 that runs between Bhakti Park (Wadala) to Cadbury junction having 22 elevated stations.
The scope encompasses design, manufacture, supply, installation, integration, testing and commissioning of power supply and traction systems for 24.72 route km and provision of SCADA system for complete Metro line 4 & 4A for 32 stations, depots and receiving substation. All work will be carried out by L&T's in-house design and execution team. The scope also includes electrical and mechanical works, Lift & Escalators for 22 elevated stations and 2 Depots, along with five years of comprehensive maintenance.
This is the third successive order that L&T has won in the Line-4&4A corridor of Mumbai Metro. It had earlier won the order for Package CA-234, involving rolling stock, Communications-Based Train Control (CBTC) signalling, telecommunications, platform screen doors and depot machinery & plant for the entire corridor, and another order for Package CA-168, involving 19.5 km ballast-less track-works across 15 stations.
The contract, Package CA-298, awarded by the Mumbai Metropolitan Region Development Authority (MMRDA), covers the electrification of the 24.72 km-long Line 4, running from Bhakti Park (Wadala) to Cadbury Junction, which includes 22 elevated stations.
The scope of work includes design, manufacture, supply, installation, integration, testing, and commissioning of power supply and traction systems along the route. L&T will also provide a SCADA system for Metro Lines 4 and 4A, covering 32 stations, depots, and receiving substations.
Additional works include electrical and mechanical installations, lifts and escalators for 22 elevated stations and 2 depots, along with five years of comprehensive maintenance. All work will be executed by L&T’s in-house design and execution team.
This marks L&T’s third consecutive order in the Line 4 & 4A corridor. The company had earlier won package CA-234, covering rolling stock, CBTC signalling, telecommunications, platform screen doors, and depot machinery, and package CA-168, involving 19.5 km of ballast-less track works across 15 stations.
Shares of Larsen & Toubro rose 0.07% to currently trade at Rs 4,062.05 on the BSE.
Oil & gas, pharma and It stocks declined while media and metal shares advanced.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 116.14 points or 0.14% to 85,408.70. The Nifty 50 index fell 35.05 points or 0.13% to 26,142.10.
In the broader market, the S&P BSE Mid-Cap index slipped 0.37% and the S&P BSE Small-Cap index dropped 0.14%.
The market breadth was negative. On the BSE, 1,843 shares rose and 2,342 shares fell. A total of 152 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 1.99% to 9.19.
IPO Update:
Gujarat Kidney and Super Speciality received bids for 6,48,11,264 shares as against 1,32,26,880 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (24 December 2025). The issue was subscribed 4.90 times. The issue opened for bidding on 22 December 2025 and it will close on 24 December 2025. The price band of the IPO is fixed between Rs 108 and 114 per share.
On 23 December 2025, Reserve Bank of India (RBI) stated that on a review of current liquidity, it has decided to conduct the operations to inject liquidity into the banking system. It includes open market operations (OMO) purchase auctions of Government of India securities for an aggregate amount of Rs 2,00,000 crore in four tranches of Rs 50,000 crore each to be held on December 29, 2025, January 05, 2026, January 12, 2026, and January 22, 2026 and USD/INR Buy/Sell Swap auction of USD 10 billion for a tenor of 3 years to be held on January 13, 2026.
The Nifty Oil& Gas index declined 0.78% to 11,959.40. The index jumped 1.73% in the past three consecutive trading sessions.
Mahanagar Gas (down 1.33%), Indian Oil Corporation (down 1.32%), Aegis Logistics (down 1.29%), Bharat Petroleum Corporation (down 1.2%), Indraprastha Gas (down 1.19%), Gujarat Gas (down 1.13%), Hindustan Petroleum Corporation (down 0.96%), GAIL (India) (down 0.73%), Oil & Natural Gas Corpn (down 0.73%) and Reliance Industries (down 0.69%).
Larsen & Toubro (L&T) shed 0.26%. The company announced that its transportation infrastructure business vertical has secured a significant order for Mumbai metro railway project. As per L&T’s internal classification, the contract falls under the ‘significant’ category, with an estimated value in the range of Rs 1,000 crore to Rs 2,500 crore.
GK Energy jumped 3.39% after the company received an amended Letter of Empanelment from Maharashtra State Electricity Distribution Company. The LoE is for 10,000 off-grid DC solar water pumping systems. The pumps include 3 HP, 5 HP and 7.5 HP variants. They will be supplied across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana and the PM-KUSUM B scheme.The order is valued at Rs 254.30 crore. The installation is to be completed within 60 days from the work order or notice to proceed.
Captain Polyplast rallied 3.62% after the company announced that it has received an additional empanelment for 1,000 solar pumps under the PM KUSUM B scheme from MSEDCL, with an aggregate order value of Rs 27.69 crore.
Monarch Surveyors and Engineering Consultants added shed 0.42%. The company secured a contract worth Rs 7.83 crore from the Nashik Municipal Corporation. The contract involves carrying out survey and allied works for lands requisitioned for the Sinhastha Kumbh Mela 2027-28 in Nashik and Trimbak.
Crompton Greaves Consumer Electricals fell 0.83%. The company announced that it has received an order worth Rs 46.20 crore from Maharashtra State Electricity Distribution Company (MSEDCL). The order covers 2,000 solar water pumping systems, with a total work order value of Rs 46,20,48,229.
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) dropped 0.30%. The company said that it has awarded a contract worth Rs 0360 crore to Toyo Engineering India for the supply of an Ammonium Nitrate-II plant on a LEPC (lump-sum engineering, procurement & construction) basis.
European markets saw muted trading on Wednesday during a shortened Christmas Eve session.
Asian market ended mixed, breaking ranks with Wall Street that saw key benchmarks advance overnight after better-than-expected economic growth data.
Media reports from Japan said that the country was set to issue about 29.6 trillion yen (about $190 billion) in new government bonds to fund its fiscal 2026 budget.
The South Korean won strengthened against the greenback after media reports stated that South Korea’s national pension fund was carrying out strategic foreign exchange hedging activities.
Spot gold prices hit another record Wednesday, crossing $4,500 per ounce for the first time, driven by a weaker dollar, geopolitical tensions and U.S. Federal Reserve rate-cut expectations. Gold has notched a series of all-time highs this year, soaring over 70% year to date.
Overnight in the U.S., stocks rose for a fourth straight session as artificial intelligence names continued to outperform during a holiday-shortened week.
The S&P 500 added 0.46%, closing at a record level of 6,909.79. The broad market index is now just below its intraday all-time high of 6,920.34.
The Nasdaq Composite climbed 0.57% to end at 23,561.84. Gains in tech giants such as Nvidia and Broadcom lifted the index. The Dow Jones Industrial Average rose 79.73 points, or 0.16%, and settled at 48,442.41.
L&T's Hydrocarbon Onshore business vertical (L&T Onshore) has won a major order from Bharat Petroleum Corporation (BPCL). According to the company's project classification, the order is classified as 'major project' valued in the range of Rs 5,000 crore to Rs 10,000 crore.
The scope of work encompasses engineering, procurement, construction and commissioning of a Linear Low-Density Polyethylene / High-Density Polyethylene (LLDPE / HDPE) Swing Unit comprising two trains of 575 KTPA each, at Bina in Madhya Pradesh.
To be executed by L&T Onshore on a Lump Sum Turnkey basis, it will be India's largest LLDPE / HDPE Swing Unit, setting a new benchmark in polyethylene production capacity.
The project forms an integral part of BPCL's Bina Petrochemicals & Refinery Expansion Project which aims to set up a petrochemical complex and enhance refinery capacity from 7.8 MMTPA to ~11 MMTPA. It aligns with Government of India's ‘Aatmanirbhar Bharat' vision by strengthening domestic manufacturing and achieving self-sufficiency in polymer production.
The scope of the project includes setting up a Linear Low-Density Polyethylene/High-Density Polyethylene (LLDPE/HDPE) Swing Unit comprising two trains of 575 kilotonnes per annum (KTPA) each at BPCL’s Bina facility in Madhya Pradesh. The project will be executed on a lump sum turnkey basis.
Once completed, the facility will be India’s largest LLDPE/HDPE swing unit, marking a significant milestone in domestic polyethylene production capacity. The project is a key component of BPCL’s Bina Petrochemicals & Refinery Expansion Project, which aims to establish a petrochemical complex and expand refinery capacity from 7.8 million metric tonnes per annum (MMTPA) to approximately 11 MMTPA.
The project aligns with the Government of India’s ‘Aatmanirbhar Bharat’ initiative by strengthening indigenous manufacturing capabilities and reducing dependence on imports of polymers.
L&T Onshore is one of India’s largest EPC businesses, delivering comprehensive lump-sum turnkey solutions across the upstream, midstream and downstream hydrocarbon sectors. With a strong execution track record across geographies, it has delivered refinery expansions, petrochemical complexes, gas processing plants, fertiliser plants, LNG terminals and crosscountry pipelines.
Subramanian Sarma, deputy managing director & president of L&T, said, “This is a major order that will not only strengthen our balance sheet but also provide impetus to our demonstrated credentials in downstream hydrocarbon EPC space.”
E S Sathyanarayanan, senior vice president & IC head of L&T Energy Hydrocarbon – Onshore & member of the Ecom – L&T, said, “In the ever-evolving landscape of the hydrocarbon and petrochemical sector, this win for L&T Onshore is a testament to the trust that customers repose in our execution and delivering capabilities. We are fully committed to delivering the project with high standards of HSE and quality.”
Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. The company reported a 15.6% jump in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue from operations to Rs 67,983.53 crore in Q2 FY26 over Q2 FY25. The scrip rose 0.21% to currently trade at Rs 4,080.20 on the BSE.
Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining crude oil and marketing petroleum products. The company reported a 168.74% jump in standalone net profit to Rs 6,442.53 crore in Q2 FY26 as against Rs 2,397.23 crore posted in Q2 FY25. Net sales (excluding excise duty) rose 2.09% year-on-year (YoY) to Rs 1,04,912.47 crore in the September 2025 quarter. The counter added 0.61% to Rs 372.20 on the BSE.