NEW YORK, December 28, 2025, 22:55 ET
- Punjab National Bank disclosed a 2,434-crore-rupee loan fraud tied to former promoters of two SREI Group firms, according to an exchange filing. 1
- Coforge said it will buy AI firm Encora for $2.35 billion, with the combined company’s annual revenue seen around $2.5 billion. 1
- MCX and A-1 Ltd are among India-listed firms with stock splits, bonus issues and other corporate actions due in the week starting Dec. 29. 2
Punjab National Bank said it had uncovered a 24.34 billion rupee loan fraud linked to former promoters of two SREI Group companies, putting the state-run lender in focus as Indian markets reopen on Monday. 1
The banking disclosure is one of several company updates investors are tracking ahead of Monday’s session, after Indian stocks ended the Dec. 22-26 week with modest gains but closed lower on Friday. 1
India’s benchmark indexes were set for a flat open on Monday, with thin year-end holiday volumes and foreign fund outflows shaping sentiment. 3
PNB told exchanges the fraud relates to former promoters of SREI Equipment Finance Ltd and SREI Infrastructure Finance Ltd, according to local media reports citing the filing. 4
IT services firm Coforge said it will acquire Encora at an enterprise value of $2.35 billion, and Moneycontrol reported the combined company’s annual revenue could reach about $2.5 billion. 1
Business Standard reported the all-stock deal would be funded through a preferential share allotment priced at 1,815.91 rupees per share, with Encora’s current shareholders getting a 20% stake in the merged entity. 5
“This particular transaction will allow it to enter new segments and cross-sell,” Pareekh Jain, founder of tech advisory firm EIIR Trend, was quoted as saying. 5
The combined company is expected to operate at a 14% EBIT margin — a measure of operating profit — and the acquisition is projected to be earnings-per-share accretive in 2026-27, Business Standard reported. 5
Timex Group India also drew attention after its promoter, Timex Group Luxury Watches B.V., said it plans to sell an 8.93% stake via an offer for sale, or OFS, at a floor price of 275 rupees per share. 1
Corporate actions — moves such as stock splits and bonus issues that change a company’s share count — are also lining up for the week starting Dec. 29, the Economic Times’ Hindi edition reported. 2
A-1 Ltd will trade ex-bonus on Dec. 31, with shareholders on the company’s record book set to receive three bonus shares for every share held, Live Hindustan reported, citing information provided to exchanges. 6
The company also revised the record date for its stock split to Jan. 8, 2026 from Dec. 31, Live Hindustan reported. 6
A-1 has said it plans to split each 10-rupee face-value share into 10 shares of 1-rupee face value and carry out a 3-for-1 bonus issue; it closed at 1,753.25 rupees on Friday, the Economic Times’ Hindi edition reported. 2
Multi Commodity Exchange of India, the country’s biggest commodity exchange, is set to split its shares on Jan. 2, 2026, dividing each 10-rupee face-value share into five shares of 2-rupee face value, the Economic Times’ Hindi edition reported. 2
Caspian Corporate Services is expected to carry out a face-value consolidation — effectively a reverse stock split — on Monday, combining every 10 shares of 1-rupee face value into one share of 10-rupee face value, the report said. 2
Other names highlighted by Moneycontrol included Vikran Engineering, which said it received a letter of award for 45.75 megawatts of solar projects in Madhya Pradesh, and Solarworld Energy Solutions, which said it won a 725.33-crore-rupee EPC (engineering, procurement and construction) order from NTPC Renewable Energy. 1
Aurobindo Pharma’s CuraTeQ Biologics ended a licensing agreement tied to a biosimilar version of Stelara, while Shree Cement received a 25.6-crore-rupee GST demand notice linked to valuation and input tax credit claims, Moneycontrol reported. 1
Diamond Power Infrastructure said it received a 66.18-crore-rupee letter of intent for power cable supply, and Tamilnad Mercantile Bank plans to open five branches on Dec. 29, Moneycontrol reported. 1
Investors are also watching for fresh disclosures as foreign portfolio investors remain net sellers, Reuters reported. 3
