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Aurum PropTech Achieves First Profitable Quarter in Q2 FY26; Revenue Up 30% YoY
Aurum PropTech reported a significant turnaround in Q2 FY26, achieving its first profitable quarter on an adjusted EBITDA basis with a 3% margin. Total income rose 30% YoY to ₹87.66 crores, driven by strong growth in the Distribution (62% YoY) and Rental (25% YoY) segments. The company's EBITDA margin improved to 30%, while PBT margins showed a recovery of 993 bps. Additionally, the company expanded internationally by launching 'Nestr' operations in the UAE during the quarter.
Key Highlights
Total Income grew 30% YoY to ₹87.66 crores from ₹67.61 crores in the previous year.
Achieved first profitable quarter with an Adjusted EBITDA margin of 3% compared to -4% YoY.
Distribution business revenue surged 62% YoY, supported by 1,400+ new licenses in Sell.do and 95,000+ leads in Aurum Analytica.
Rental business grew 25% YoY, with HelloWorld operating 19,102+ beds and NestAway seeing 4x revenue run-rate growth in secondary sales.
EBITDA margin improved by 860 bps to 30% compared to 22% in Q2 FY25.
💼 Action for Investors
Investors should monitor the sustainability of this turnaround and the scaling of the high-growth Distribution segment. The international expansion into the UAE and the upcoming SM-REIT launch are key catalysts to watch for future growth.
Ratnaveer Board Meeting Outcome: Preferential Issue & Warrant Conversion
Ratnaveer Precision Engineering Limited's board approved the allotment of 20,27,972 equity shares at ₹143 per share upon exercise of warrants. The company will issue 72,32,704 warrants on a preferential basis to promoters at ₹159 per warrant, convertible into equity shares within 18 months. Post-allotment, the paid-up equity share capital increased to ₹67,87,04,630 divided into 6,78,70,463 equity shares of ₹10 each. An Extra Ordinary General Meeting (EGM) will be convened on January 19, 2025.
Key Highlights
Allotment of 20,27,972 Equity Shares at ₹143 per share.
Issuance of 72,32,704 Warrants to promoters at ₹159 per warrant.
Paid-up equity share capital increased to ₹67,87,04,630.
EGM to be convened on January 19, 2025 at 01:00 p.m.
💼 Action for Investors
Investors should review the details of the preferential issue and warrant conversion. Monitor the conversion of warrants into equity shares and attend/review the proceedings of the upcoming EGM on January 19, 2025.
Ugro Capital Board to Meet on December 17 to Approve Fundraise via NCDs
Ugro Capital has announced a meeting of its Investment and Borrowing Committee scheduled for December 17, 2025. The committee will consider and approve the raising of funds through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. This move is a standard capital-raising activity for the NBFC to support its lending operations and growth in the MSME sector. While the specific amount has not been disclosed yet, the outcome of the meeting will determine the scale of the capital infusion.
Key Highlights
Investment and Borrowing Committee meeting scheduled for December 17, 2025.
Proposal to raise funds via issuance of Non-Convertible Debentures (NCDs).
Fundraising to be conducted through a private placement basis.
Complies with SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.
💼 Action for Investors
Investors should monitor the post-meeting announcement on December 17 for the specific quantum of funds and the interest rates offered. Successful capital raising at competitive rates is essential for the company's credit growth and margin stability.
ESAFSFB Board approves sale of NPA pool up to ₹1700 crores
ESAF Small Finance Bank's board approved the sale of NPA and written-off loans to an Asset Reconstruction Company (ARC) with a pool size of up to ₹1700 crores. The bank holds an overall provision of 94% on this pool. The Asset Sale Committee is authorized to negotiate and finalize the valuation using the Swiss challenge method. Several Non-Executive Directors, including Shri. Ajayan Mangalath Gopalakrishnan Nair, Shri. Ravi Venkatraman, Shri. Gabriel John Samuel, retired effective December 12, 2025. Shri. Ravimohan Periyakavil Ramakrishnan will retire as Part Time Chairman and Non-Executive Independent Director effective December 20, 2025.
Key Highlights
Approved sale of NPA pool up to ₹1700 crores to ARC.
Bank carries an overall provision of 94% on the NPA pool.
Retirement of Shri. Ravimohan Periyakavil Ramakrishnan (DIN: 08534931) as Part Time Chairman effective December 20, 2025.
Retirement of Shri. Ajayan Mangalath Gopalakrishnan Nair (DIN: 09782416) as Non-Executive Nominee Director effective December 12, 2025.
Reconstitution of Committees of the Board effective December 13, 2025.
💼 Action for Investors
Investors should monitor the impact of the NPA sale on the bank's financials and the reconstitution of the board committees. Keep an eye on the valuation achieved from the NPA sale and its effect on profitability.
UGROCAP Allots 15,89,170 Equity Shares on CCD Conversion
Ugro Capital Limited has allotted 15,89,170 equity shares following the conversion of Compulsorily Convertible Debentures (CCDs). The conversion price was ₹185 per share, including a premium of ₹175. This allotment increases the company's issued, subscribed, and paid-up equity share capital from ₹1,52,58,34,950 to ₹1,54,17,26,650. The new shares rank equally with existing shares.
Key Highlights
Allotted 15,89,170 Equity Shares
Conversion price of ₹185 per share
Premium of ₹175 per equity share
Equity share capital increased to ₹1,54,17,26,650 from ₹1,52,58,34,950
CCDs converted into equity shares
💼 Action for Investors
Investors should note the increase in equity share capital. Monitor the company's performance and financial statements for any impact from this conversion.
CCCL Receives New Orders Worth ₹458.00 Cr
Consolidated Construction Consortium Limited (CCCL) announced new orders under Heavy Civil Building and Buildings & Factories (B&F) vertical. The orders aggregate to ₹458.00 Cr. These are domestic orders for construction of buildings and factories spanning 11.00 Lakhs Sq Feet. The projects are expected to be executed before Financial Year 2028-29. Investors should monitor CCCL's ability to execute these orders efficiently.
Key Highlights
New orders worth ₹458.00 Cr
Construction of Buildings and factories to the extent of 11.00 Lakhs Sq Feet
Orders to be executed before Financial Year 2028-29
Orders are domestic
💼 Action for Investors
Investors should review CCCL's order book and execution capabilities. Monitor revenue growth and profitability in coming quarters.
IOC Declares Rs 5 Interim Dividend for FY 2025-26; Sets Record Date for Dec 18
Indian Oil Corporation (IOC) has declared an interim dividend of Rs 5 per share for the financial year 2025-26. The company has fixed December 18, 2025, as the record date to determine shareholder eligibility for the payout. Tax will be deducted at source (TDS) at a rate of 10% for resident shareholders with a valid PAN, provided the total dividend for the year exceeds Rs 10,000. Shareholders must submit necessary tax exemption documents like Form 15G/15H by December 17, 2025, to avoid higher tax deductions.
Key Highlights
Interim dividend of Rs 5 per equity share declared for the financial year 2025-26.
Record date for determining dividend entitlement is set for December 18, 2025.
TDS of 10% applicable for residents with PAN; 20% for those without or with invalid PAN.
The Rs 10,000 TDS threshold includes the final dividend for 2024-25 paid in September 2025.
Deadline for submitting tax-related documents (Form 15G/15H/10F) is December 17, 2025.
💼 Action for Investors
Investors should ensure their PAN is correctly linked to their demat accounts and submit Form 15G/15H by Dec 17 if they qualify for tax exemptions. Non-resident investors should provide Tax Residency Certificates and Form 10F to avail beneficial DTAA rates.
Xpro India Subsidiary XDF Allots Shares to OASIS II for AED 33.09 Million
Xpro India's subsidiary, Xpro Dielectric Films FZ-LLC (XDF), has successfully completed a capital infusion of AED 33,087,500 from OASIS II Investment Holding Limited. The subsidiary allotted 13,235 Class A equity shares at a price of AED 2,500 per share, which includes a premium of AED 1,500. Following this transaction, Xpro India's stake in XDF stands at 85%, and the entity continues to be a subsidiary. This external funding provides a valuation benchmark for the company's specialized dielectric films business.
Key Highlights
XDF allotted 13,235 new Class A Equity Shares to OASIS II Investment Holding Limited
Total subscription amount received is AED 33,087,500 (approximately INR 75-76 Crores)
Shares were issued at a face value of AED 1,000 with a premium of AED 1,500 per share
Xpro India retains an 85% majority stake in the subsidiary post-allotment
The fundraise follows the receipt of all necessary regulatory and other approvals
💼 Action for Investors
Investors should view this as a positive development as it validates the valuation of the subsidiary and provides growth capital without diluting the parent company's equity. Monitor the deployment of these funds towards the company's expansion in the capacitor film segment.
R Systems Completes Acquisition of Novigo Solutions
R Systems International has completed the acquisition of Novigo Solutions on November 13, 2025, making Novigo a subsidiary. R Systems acquired 100% equity in Novigo. This acquisition aims to expand R Systems' global digital engineering and AI capabilities. The integration will be gradual to ensure a smooth transition with no customer disruption. This move is expected to enhance R Systems' OptimaAI portfolio and expand its presence in Tier-2 cities.
Key Highlights
R Systems acquired 100% equity in Novigo Solutions.
Acquisition completed on November 13, 2025.
Novigo is now a subsidiary of R Systems International Ltd.
💼 Action for Investors
Investors should monitor the integration of Novigo and R Systems for potential synergies and expanded service offerings. Keep an eye on future earnings reports to assess the financial impact of this acquisition.
Valor Estate (DB Realty) Approves Capital Increase and Preference Share Conversion at EGM
Valor Estate Limited, formerly known as DB Realty, held an Extraordinary General Meeting on December 12, 2025, to approve significant capital restructuring. Shareholders voted on increasing the company's Authorised Share Capital and altering the Memorandum of Association. A key resolution involved converting 8% Redeemable Preference Shares (RPS) into 0.00001% Compulsory Convertible Preference Shares (CCPS). This move is expected to reduce the company's dividend payout obligations while eventually expanding its equity base.
Key Highlights
Approval sought for the increase in the company's Authorised Share Capital
Proposed conversion of 8% Redeemable Preference Shares into 0.00001% Compulsory Convertible Preference Shares (CCPS)
The original RPS were Non-Convertible and Non-Cumulative, now moving towards equity conversion
Voting results to be declared within two working days from the conclusion of the EGM held on December 12, 2025
💼 Action for Investors
Investors should monitor the conversion ratio of the CCPS to understand the potential equity dilution. The reduction in the preference dividend rate is a positive sign for the company's internal cash accruals.
GPTINFRA Bags Order Valued at ₹53.6 Crore
GPT Infraprojects Limited has secured a new order worth ₹53.6 Crore from PCMM, South Eastern Railway. The order involves the manufacture and supply of 142,400 concrete sleepers for the Ranchi and Kharagpur Division of South Eastern Railway. This order is to be executed over a period of 24 months. With this new order, the company's outstanding order book now stands at ₹3,844 Crore, with total order inflow for Fiscal 2026 at ₹949 Crore.
Key Highlights
Order value: ₹53.6 Crore
Supply of 142,400 concrete sleepers
Order execution period: 24 months
Outstanding order book: ₹3,844 Crore
Total order inflow for Fiscal 2026: ₹949 Crore
💼 Action for Investors
This new order strengthens GPTINFRA's position in the railway infrastructure sector. Investors should monitor the company's execution of this order and its impact on future revenue.
Wipro & Microsoft Partner to Empower Enterprises with AI
Wipro and Microsoft are partnering to help enterprises transform into AI-driven 'Frontier Firms'. Wipro will deploy over 50,000 Microsoft Copilot licenses as part of this initiative. More than 25,000 Wipro employees will be upskilled in Microsoft Cloud and GitHub technologies. This collaboration includes the launch of a Microsoft Innovation Hub at Wipro’s Partner Labs in Bengaluru to accelerate AI solutions.
Key Highlights
Wipro is deploying over 50,000 Microsoft Copilot licenses.
More than 25,000 Wipro employees are being upskilled in Microsoft Cloud and GitHub technologies.
Wipro and Microsoft are engaged in a three-year strategic partnership.
Wipro is leveraging three key industry IPs (NetOxygen, Wealth AI, and Falcon Supply Chain).
💼 Action for Investors
Investors should monitor Wipro's progress in integrating AI solutions and the impact on revenue growth. Keep an eye on how the partnership with Microsoft enhances Wipro's competitive positioning.
BEL Secures New Order Worth Rs. 776 Crores
Bharat Electronics Limited (BEL) has announced the receipt of a significant new order valued at Rs. 776 Crores on December 12, 2025. This contract win further bolsters the company's robust order book and enhances revenue visibility for the upcoming fiscal periods. As a leading defense public sector undertaking, BEL continues to benefit from the Indian government's focus on indigenization and defense electronics. This development underscores the company's competitive position in securing high-value domestic contracts.
Key Highlights
New order worth Rs. 776 Crores received on December 12, 2025
Strengthens the company's existing order book and future revenue pipeline
Reinforces BEL's leadership in the high-tech defense electronics sector
Reflects continued momentum in domestic defense procurement
💼 Action for Investors
Investors should view this as a positive indicator of BEL's growth trajectory and maintain a long-term perspective. Monitor the company's execution capabilities and overall order book growth in subsequent quarterly updates.
MTNL Defaults on Principal & Interest Payments to Banks
MTNL has announced defaults in payment of principal and interest to several banks, including Union Bank of India, Bank of India, and Punjab National Bank. The total outstanding borrowings from banks/financial institutions amount to ₹8,957 crore. The total financial indebtedness of the company, including short-term and long-term debt, is ₹35,699 crore. This includes bank loans of ₹8,957 crore, SG Bonds of ₹24,071 crore, and a loan from DoT for paying SG Bond interest of ₹2,671 crore.
Key Highlights
Total outstanding borrowings from banks/financial institutions: ₹8,957 crore
Total financial indebtedness of the company: ₹35,699 crore
Outstanding Principal from UBI: ₹3,334.57 crore
Overdue Interest from UBI: ₹571.89 crore
SG Bonds: ₹24,071 crore
💼 Action for Investors
Investors should closely monitor MTNL's debt restructuring plans and government support initiatives. Consider reducing exposure given the high debt and default risks.
Adani Energy Solutions Acquires 100% Equity in KPS III HVDC Transmission
Adani Energy Solutions Limited (ADANIENSOL) has executed a Share Purchase Agreement (SPA) to acquire 100% equity shares of KPS III HVDC Transmission Limited from PFC Consulting Limited. KPS III's authorized and paid-up share capital is ₹1 Lakh each, with a turnover of Nil. This acquisition aligns with AESL's strategy to enhance shareholder value through inorganic growth opportunities. The project aims to facilitate the evacuation of 2.5 GW of renewable energy from the Khavda RE park.
Key Highlights
Acquired 100% Equity Shares of KPS III HVDC Transmission Limited
KPS III Authorized Share Capital: ₹1 Lakh
KPS III Paid-Up Share Capital: ₹1 Lakh
Facilitates evacuation of 2.5 GW of renewable energy
💼 Action for Investors
Investors should monitor the integration of KPS III into Adani Energy Solutions and its impact on the company's renewable energy transmission capabilities. Keep an eye on future announcements regarding the Khavda RE park project.
JSW Energy to issue shares & warrants to promoter, raise ₹10,000 cr
JSW Energy plans to issue 95,23,809 equity shares and 4,76,19,047 warrants on a preferential basis to JTPM Metal Traders Limited, a promoter group entity, at ₹525 per share/warrant. This includes a premium of ₹515 per share. The company aims to raise up to ₹10,000 crores through private offerings or qualified institutions placement. Chandrasekaran Prabhakaran has been appointed as CFO and Key Managerial Personnel, effective January 1, 2026.
Key Highlights
Issuance of 95,23,809 Equity Shares to JTPM Metal Traders Limited.
Issuance of 4,76,19,047 Warrants to JTPM Metal Traders Limited.
Issue price of ₹525 per Equity Share and Warrant.
Target to raise up to ₹10,000 crores through eligible securities.
Chandrasekaran Prabhakaran appointed as CFO and KMP effective January 1, 2026.
💼 Action for Investors
Shareholders should monitor the Extraordinary General Meeting for approval of the preferential issue and fund raise. Keep an eye on the terms and conditions of the warrant conversion.
JSW Energy appoints Chandrasekaran Prabhakaran as CFO, effective Jan 1, 2026
JSW Energy has appointed Mr. Chandrasekaran Prabhakaran as the Chief Financial Officer and a Key Managerial Personnel, effective January 1, 2026. He is currently the Deputy CFO at JSW Steel Limited and has been associated with the JSW Group since November 2014. The board also approved raising funds of up to ₹10,000 crores through issuance of eligible securities. Additionally, the company plans to issue 95,23,809 Equity Shares and 4,76,19,047 Warrants to JTPM Metal Traders Limited on a preferential basis.
Key Highlights
Chandrasekaran Prabhakaran appointed as CFO effective January 1, 2026
Plans to raise funds up to ₹10,000 crores
Issuance of 95,23,809 Equity Shares to JTPM Metal Traders Limited
Issuance of 4,76,19,047 Warrants to JTPM Metal Traders Limited
Issue price of Equity Shares and Warrants is ₹525 each
💼 Action for Investors
Investors should monitor the progress of the fund-raising plans and the impact of the new CFO on the company's financial strategy. Keep an eye on the terms and conversion of the warrants issued to JTPM Metal Traders Limited.
JSW Energy appoints Chandrasekaran Prabhakaran as CFO, effective Jan 1, 2026
JSW Energy has appointed Mr. Chandrasekaran Prabhakaran as the Chief Financial Officer (CFO) effective January 1, 2026. He will also be a Key Managerial Personnel. The board approved a preferential issue of 95,23,809 equity shares to JTPM Metal Traders Limited at ₹525 per share. Additionally, 4,76,19,047 warrants were approved for issuance to JTPM at ₹525 per warrant. The company also plans to raise up to ₹10,000 crores through various means, subject to shareholder approval.
Key Highlights
Chandrasekaran Prabhakaran appointed as CFO effective January 1, 2026
95,23,809 Equity Shares to be issued on preferential basis at ₹525 per share
4,76,19,047 Warrants to be issued on preferential basis at ₹525 per warrant
Plans to raise up to ₹10,000 crores through issuance of eligible securities
JTPM Metal Traders Limited to hold 3.43% post preferential issue
💼 Action for Investors
Investors should note the change in key management and monitor the progress of the proposed fund raising and preferential issue. Keep an eye on the Extraordinary General Meeting details for shareholder approvals.
JSW Energy to raise up to ₹10,000 Cr, issues shares to promoter group
JSW Energy plans to raise up to ₹10,000 crores through private offerings or qualified institutional placements, subject to shareholder and regulatory approvals. The board approved the issuance of 95,23,809 equity shares and 4,76,19,047 warrants on a preferential basis to JTPM Metal Traders Limited, a promoter group entity, at ₹525 per share/warrant. Post preferential issue, JTPM Metal Traders Limited's shareholding will increase to 3.43% on a fully diluted basis. Mr. Chandrasekaran Prabhakaran has been appointed as the Chief Financial Officer effective January 1, 2026.
Key Highlights
To raise up to ₹10,000 crores through issuance of eligible securities.
Issuance of 95,23,809 Equity Shares to JTPM at ₹525 per share.
Issuance of 4,76,19,047 Warrants to JTPM at ₹525 per warrant.
JTPM Metal Traders Limited's shareholding will be 3.43% post preferential issue.
Chandrasekaran Prabhakaran appointed as CFO effective January 1, 2026.
💼 Action for Investors
Shareholders should monitor the details of the Extraordinary General Meeting for approval of the fundraise and preferential issue. Keep an eye on the utilization of the raised funds and its impact on JSW Energy's future growth.
JSW Energy to issue preferential shares & warrants, raise up to ₹10,000 cr
JSW Energy plans to issue 95,23,809 equity shares and 4,76,19,047 warrants on a preferential basis to JTPM Metal Traders Limited, a promoter group entity. The issue price for both equity shares and warrants is ₹525 each, including a premium of ₹515. The company aims to raise up to ₹10,000 crores through private offerings or qualified institutional placements. Post-preferential issue, JTPM Metal Traders Limited's shareholding will increase to 3.43% on a fully diluted basis.
Key Highlights
Issue of 95,23,809 Equity Shares to JTPM at ₹525 per share.
Issue of 4,76,19,047 Warrants to JTPM at ₹525 per warrant.
Targeting to raise up to ₹10,000 crores through eligible securities.
JTPM's post-preferential issue holding to be 3.43% on a fully diluted basis.
Warrant tenure not to exceed 18 months from the date of allotment.
💼 Action for Investors
Investors should note the potential dilution from the preferential issue and warrant conversion. Monitor the company's progress on raising ₹10,000 crores and its utilization for future growth.