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What is the story about?
Today’s edition tracks the rupee hitting a record low, India’s energy-transition imperatives, Delhi’s air quality emergency, post-lock-in selling at Urban Company, why compute—not data—is the new oil, JPMorgan’s top tech bets for 2026, and more.
Rupee slips to an all-time low of 90.70 against dollar
The Indian rupee fell to an all-time low against the US dollar on Monday (December 15), pressured by persistent foreign fund outflows and lingering uncertainty around US-India trade negotiations.
The currency weakened to 90.70 per dollar in early trade, breaching its previous record low of 90.55 touched on December 12.
On a year-to-date basis, the rupee has declined about 5.6%.
Why India's energy transition hinges on LNG, grids and critical minerals
As India’s dependence on solar photovoltaic and wind energy increases, diversifying the energy mix is becoming essential to meet peak electricity demand.Power grids across the country require alternative energy sources for cleaner generation while mitigating outages and system pressures.
Liquefied natural gas (LNG) has emerged as a key component of India’s energy strategy as geopolitics and price volatility continue to shape import dynamics. At the same time, 2025 has drawn attention to the global surge in data centres and energy storage needs, signalling a structural shift for emerging markets like India.
Wakefit shares fall 9% after listing at par versus IPO price
Shares of D2C home and furnishings brand Wakefit Innovations made their stock market debut on Monday, December 15, after its ₹1,289-crore public issue saw moderate demand during the three-day bidding window from December 8 to 10.
The stock listed at par at ₹195 per share — its IPO price — on the NSE. On the BSE, it opened slightly lower at ₹194.10. Post listing, the stock declined by up to 9%.
Here is how three pharma stocks are reacting in response to newsflow
Pharma stocks were trading mixed on Monday, December 15, after two firms received Form 483 from the US drug regulator, while another signed a settlement agreement.
Dr Reddy's Laboratories Ltd., Aurobindo Pharma Ltd. received five and three observations in their respective Form 483s, while Biocon Ltd.'s subsidiary inked a settlement and licensing agreement with Regeneron and Bayer for Aflibercept for Europe and the rest of the world
Delhi AQI slips to severe category; GRAP Stage-IV imposed
Delhi woke up to hazardous air quality as a thick layer of toxic smog enveloped large parts of the national capital, severely impacting visibility and pushing pollution levels into the 'severe' category across multiple locations. With pollution levels deteriorating sharply, the Commission for Air Quality Management (CAQM) has invoked Stage-IV of the Graded Response Action Plan (GRAP) across Delhi-NCR. GRAP Stage-IV represents the strictest set of curbs aimed at preventing further deterioration in air quality.
Urban Company shares fall further towards IPO price after shareholder lock-in ends
Shares of newly listed Urban Company Ltd. fell as much as 6% on Monday, December 15, as its three-month shareholder lock-in period comes to an end.
As many as 41.5 million shares or 3% of the company's outstanding became eligible for trade as the lock-in came to an end today, according to Nuvama Alternative & Quantitative Research.
Based on Friday's closing price, the value of the shares that were up for trade today was worth ₹534 crore.
Why the new oil is compute, not data
To keep repeating “data is the new oil” is to miss the truth staring us in the face. In 2025 and beyond, compute is the new oil. GPUs are the new barrels. Chip fabs are the new oil fields. And the balance of global power is already tilting toward those who control them. The ability to process, train, and deploy artificial intelligence systems at scale is the defining resource struggle of our time. The silicon inside a GPU has become more strategically important than the oil fields of the Middle East once were, writes Aditya Vikram Kashyap, an award-winning technology leader and Vice President at Morgan Stanley, New York.
JPMorgan's top internet stock picks for next year
JPMorgan is betting on four technology stocks that can be winners in 2026.
Tech stocks bolstered much of this year's rally, but recent concerns about elevated valuations and thepayoff of artificial intelligence have led to discernment among winners and losers in the sector.
The S&P 500's tech sector has surged 22.5% year to date, making it the top performing sector of the broad-market index. The tech-heavy Nasdaq Composite is also tracking to be the best performer of the three major U.S. stock indexes, with about 20.1% in gains this year.
The India-Russia partnership: What to expect after Putin’s visit
During Putin's visit several major initiatives and outcomes and agreements were announced or signed or simply agreed upon. And the need to recalibrate, expand the trade basket and open new areas of cooperation was also worked out by both sides, notes former diplomat Amb. Anil Trigunayat.
Why India’s patent push needs a rethink—quality over numbers
For a country like India, hoping to become a developed global power by 2047, ensuring high quality in its patent output will be a prerequisite for its growth aspirations. However, the bulk of our policy efforts are primarily focused on the quantity of patents, with little emphasis on quality, notes Policy Consultant Mohitkumar Daga.
Don't buy IndiGo shares now, says this strategist
Shares of Interglobe Aviation, which operates the IndiGo airline, are down over 16.3% in the last one month as a slew of unexpected cancellations stranded thousands in the first week of December.
While acknowledging that IndiGo runs a "lean operation," Matt Orton believes there's still significant regulatory risk. "I wouldn't be a dip buyer right now until we know how regulation might shake out," he said.
Rupee slips to an all-time low of 90.70 against dollar
The Indian rupee fell to an all-time low against the US dollar on Monday (December 15), pressured by persistent foreign fund outflows and lingering uncertainty around US-India trade negotiations.
The currency weakened to 90.70 per dollar in early trade, breaching its previous record low of 90.55 touched on December 12.
On a year-to-date basis, the rupee has declined about 5.6%.
Why India's energy transition hinges on LNG, grids and critical minerals
As India’s dependence on solar photovoltaic and wind energy increases, diversifying the energy mix is becoming essential to meet peak electricity demand.Power grids across the country require alternative energy sources for cleaner generation while mitigating outages and system pressures.
Liquefied natural gas (LNG) has emerged as a key component of India’s energy strategy as geopolitics and price volatility continue to shape import dynamics. At the same time, 2025 has drawn attention to the global surge in data centres and energy storage needs, signalling a structural shift for emerging markets like India.
Wakefit shares fall 9% after listing at par versus IPO price
Shares of D2C home and furnishings brand Wakefit Innovations made their stock market debut on Monday, December 15, after its ₹1,289-crore public issue saw moderate demand during the three-day bidding window from December 8 to 10.
The stock listed at par at ₹195 per share — its IPO price — on the NSE. On the BSE, it opened slightly lower at ₹194.10. Post listing, the stock declined by up to 9%.
Here is how three pharma stocks are reacting in response to newsflow
Pharma stocks were trading mixed on Monday, December 15, after two firms received Form 483 from the US drug regulator, while another signed a settlement agreement.
Dr Reddy's Laboratories Ltd., Aurobindo Pharma Ltd. received five and three observations in their respective Form 483s, while Biocon Ltd.'s subsidiary inked a settlement and licensing agreement with Regeneron and Bayer for Aflibercept for Europe and the rest of the world
Delhi AQI slips to severe category; GRAP Stage-IV imposed
Delhi woke up to hazardous air quality as a thick layer of toxic smog enveloped large parts of the national capital, severely impacting visibility and pushing pollution levels into the 'severe' category across multiple locations. With pollution levels deteriorating sharply, the Commission for Air Quality Management (CAQM) has invoked Stage-IV of the Graded Response Action Plan (GRAP) across Delhi-NCR. GRAP Stage-IV represents the strictest set of curbs aimed at preventing further deterioration in air quality.
Urban Company shares fall further towards IPO price after shareholder lock-in ends
Shares of newly listed Urban Company Ltd. fell as much as 6% on Monday, December 15, as its three-month shareholder lock-in period comes to an end.
As many as 41.5 million shares or 3% of the company's outstanding became eligible for trade as the lock-in came to an end today, according to Nuvama Alternative & Quantitative Research.
Based on Friday's closing price, the value of the shares that were up for trade today was worth ₹534 crore.
Why the new oil is compute, not data
To keep repeating “data is the new oil” is to miss the truth staring us in the face. In 2025 and beyond, compute is the new oil. GPUs are the new barrels. Chip fabs are the new oil fields. And the balance of global power is already tilting toward those who control them. The ability to process, train, and deploy artificial intelligence systems at scale is the defining resource struggle of our time. The silicon inside a GPU has become more strategically important than the oil fields of the Middle East once were, writes Aditya Vikram Kashyap, an award-winning technology leader and Vice President at Morgan Stanley, New York.
JPMorgan's top internet stock picks for next year
JPMorgan is betting on four technology stocks that can be winners in 2026.
Tech stocks bolstered much of this year's rally, but recent concerns about elevated valuations and thepayoff of artificial intelligence have led to discernment among winners and losers in the sector.
The S&P 500's tech sector has surged 22.5% year to date, making it the top performing sector of the broad-market index. The tech-heavy Nasdaq Composite is also tracking to be the best performer of the three major U.S. stock indexes, with about 20.1% in gains this year.
The India-Russia partnership: What to expect after Putin’s visit
During Putin's visit several major initiatives and outcomes and agreements were announced or signed or simply agreed upon. And the need to recalibrate, expand the trade basket and open new areas of cooperation was also worked out by both sides, notes former diplomat Amb. Anil Trigunayat.
Why India’s patent push needs a rethink—quality over numbers
For a country like India, hoping to become a developed global power by 2047, ensuring high quality in its patent output will be a prerequisite for its growth aspirations. However, the bulk of our policy efforts are primarily focused on the quantity of patents, with little emphasis on quality, notes Policy Consultant Mohitkumar Daga.
Don't buy IndiGo shares now, says this strategist
Shares of Interglobe Aviation, which operates the IndiGo airline, are down over 16.3% in the last one month as a slew of unexpected cancellations stranded thousands in the first week of December.
While acknowledging that IndiGo runs a "lean operation," Matt Orton believes there's still significant regulatory risk. "I wouldn't be a dip buyer right now until we know how regulation might shake out," he said.
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