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.
- Coforge said it will buy AI firm Encora for $2.35 billion, with the combined company’s annual revenue seen around $2.5 billion.
- 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.
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.
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.
India’s benchmark indexes were set for a flat open on Monday, with thin year-end holiday volumes and foreign fund outflows shaping sentiment.
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.
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.
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.
“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. Business Standard
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.
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.
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.
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.
The company also revised the record date for its stock split to Jan. 8, 2026 from Dec. 31, Live Hindustan reported.
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.
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.
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.
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.
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.
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.
Investors are also watching for fresh disclosures as foreign portfolio investors remain net sellers, Reuters reported.
