The Indian stock market looks set to close this week with hefty losses. The benchmark Sensex has plunged over 3,500 points this week, while the Nifty has declined to get closer to its 200-DEMA of around 23,700. On Friday, Dec 20, the Sensex opened at 79,335.48 against its previous close of 79,218.05 and dropped over 800 points, or over 1 per cent, to the day's low of 78,398.84.

SpiceJet Ltd announced the launch of daily special flights connecting Prayagraj to Delhi, Mumbai, Bengaluru, and Ahmedabad exclusively for the Maha Kumbh Mela 2025. These flights will operate from January 12, 2025 to February 28, 2025, offering millions of pilgrims a seamless and convenient travel option to one of the world’s largest religious congregations.

The Reserve Bank of India (RBI) has increased its intervention in the currency market to defend the local currency after it slipped to a new record low today against the US dollar, currency traders said. Traders added that the central bank is intervening in the currency futures and spot market to keep the rupee under control through state-owned banks and a few brokerage houses.

PTC Industries' share price has risen over 7500% in five years, turning a ₹1 lakh investment into ₹76 lakh, with a current trading price of around ₹11,675. The company's acquisition of Trac Precision Solutions Ltd. is expected to enhance its defence capabilities, and analysts anticipate further gains, with a target price of ₹20,070, indicating a 73% upside.

Shares of Anant Raj Ltd. were trading with gains of as much as 4% on Friday, December 20. The stock has the potential to surge another 30% from current levels, domestic brokerage firm Motilal Oswal said in a note on Friday, December 20. The brokerage initiated coverage on the real estate developer with a 'Buy' recommendation and a price target of ₹1,100 per share.

Pimpri Chinchwad MC Shekhar Singh on Thu announced time restrictions for construction activities within city limits, aimed at reducing air and noise pollution. Building constructions will now be allowed from 7am to 10pm, Singh told TOI on sidelines of event organised by real estate body Naredco. There are no existing guidelines on time restrictions for construction activities under UDCPR rules.

JAIL has announced a Board meeting on January 16, 2025, at 1:30 PM. The meeting will review the company’s unaudited financial results for Q3 and the nine months ending December 31, 2024. The Board will consider a second interim dividend for FY 2024-25. This decision will be based on the total issued, subscribed, and paid-up capital of the company, offering potential benefits to its shareholders.

On Friday, shares of Hardwyn India Ltd jumped 9.82% to Rs 31.85 per share from its previous closing of Rs 29 per share. The stock's 52-week high is Rs 51.77 per share and its 52-week low is Rs 26.10 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE. The BoD of the Company approved the issuance of bonus equity shares in a 2:5 ratio to existing shareholders.

DAM Capital Advisors IPO continues to garner robust public subscription on day 2 of the share sale, led by retail and non-institutional investors segment. The initial share sale of investment bank DAM Capital Advisors Ltd got fully subscribed hours after opening for bidding on Thursday and ended with 2.75 times subscription. The initial public offering (IPO) received bids for 10.04 crore shares.

Siemens India's shares fell 8% after its post-earnings call, where management stated that private capex has not picked up significantly, except in semiconductors and batteries, and the company is not participating in LCC tenders globally, affecting its stock price, which is down 13% from its recent peak.

The civic body has recovered over Rs34 crore from property tax defaulters by roping in music bands over the past fortnight. The bands play loud music in front of the properties of defaulters in an effort to shame them into settling their dues. Most of these properties are commercial, an official said. The defaulters have not paid taxes over a period of one year to 10 years.

Swiggy shares, which have already run up close to 50 per cent from their IPO price of ₹390, still have more room to run, according to JPMorgan as the brokerage initiated coverage on the stock with a ‘buy’ rating and a target price of ₹730. JPMorgan’s price target implies a potential upside of 25 per cent in food delivery aggregator’s shares from Thursday’s closing levels of ₹582.2.

Indian Commerce Minister Piyush Goyal and European Commissioner Maroš Šefčovič discussed the proposed Free Trade Agreement between India and the EU, with Goyal stressing the need to address non-tariff barriers and long-pending issues to build confidence. The meeting aimed to provide strategic guidance to conclude a mutually beneficial agreement.

Unimech Aerospace IPO: The initial public offering (IPO) of Unimech Aerospace is scheduled to open for subscription on Monday, December 23, and will remain open till Thursday, Thursday 26. The company aims to raise ₹500 crore through the offering, which comprises a fresh issue of 0.32 crore shares worth ₹250 crore and an offer for sale of 0.32 crore shares, also aggregating to ₹250 crore.

Mankind Pharma Ltd has announced plans to raise nearly ₹3,000 crore by launching a qualified institutions placement (QIP) of equity shares. The pharmaceutical company’s Fund Raising Committee of Directors, in a meeting held on December 20, 2024, approved the allotment of 1.19 crore equity shares of the company at a face value of ₹1 each to eligible Qualified Institutional Buyers (QIBs).