Flipkart Moves Closer to India IPO Plans | Rupee Slumps to Record Low | Top Buzzing Stocks Today

Tue, 16 Dec Pre-Open

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India's benchmark indices recouped early losses on Monday but ended slightly weaker as a weak global market mood weighed on sentiment.

Indian equities closed modestly lower on Monday, ending a two-session advance as weakness in auto and financial stocks dragged.

At the closing bell on Monday, the BSE Sensex closed lower by 54 points (down 0.1%).

Meanwhile, the NSE Nifty closed 20 points lower (down 0.1%).

HUL, Trent and Shriram Finance was the top gainers.

ONGC, M&M and Eicher Motors on the other hand, were among the top losers.

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The BSE MidCap index ended 0.2% higher and BSE SmallCap index ended 0.4% higher.

Sectoral indices were trading mixed on Monday with stocks in FMCG sector and IT sector witnessing buying. Meanwhile stocks in telecom sector and auto sector witnessing selling pressure.

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Top buzzing stocks today

Urban Company share price will be in focus today.

Shares of newly listed Urban Company declined nearly 6% on 15 December after the expiry of its three-month shareholder lock-in period.

The stock slipped to Rs 121.4, marking its lowest level since listing in September. With the lock-in ending today, around 41.5 m shares-representing nearly 3% of the company's equity-have become eligible for trading.

Wakefit will also be a top buzzing stock.

Wakefit Innovations shares recovered sharply from their intraday lows and were trading over 10% higher on Monday, after a muted listing.

The stock hit a low of Rs 177.25 per share on the NSE before bouncing back. At around 2 pm, it was trading at Rs 195.81 per share, up 0.5%.

Rupee Hits Record Low

The Indian rupee slipped to a fresh record low on Monday, pressured by an ongoing stalemate in India-US trade negotiations and continued foreign outflows from domestic equity and bond markets.

The currency weakened 0.4% to 90.79 against the US dollar, breaching its previous all-time low of 90.55 recorded on December 12.

According to forex traders, the rupee continues to trade with a negative bias as investors remain in a wait-and-watch mode, seeking clarity on the India-US trade deal.

At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar.

On Friday, the currency had already touched a then-record low of 90.55 per dollar, marking its second consecutive session of fresh lows and ending the week with a loss of nearly 0.5%.

On a year-to-date basis, the rupee has depreciated 5.6% against the US dollar.

Flipkart Clears NCLT Domicile Shift

Walmart-owned e-commerce major Flipkart has received approval from the National Company Law Tribunal (NCLT) to shift the domicile of its holding company from Singapore back to India, according to people familiar with the development.

The approval marks a key milestone in Flipkart's preparations for a potential domestic initial public offering.

The nod follows Flipkart's earlier disclosure that it was working towards relocating its legal base to India to better align its corporate structure with its predominantly domestic operations and business footprint.

At the time, the company said the move was part of a broader effort to simplify its corporate structure ahead of a public listing, without committing to a specific IPO timeline.

With the NCLT approval in place, Flipkart can now move ahead with the remaining legal and regulatory processes required to complete the reverse flip. This involves transferring ownership from the overseas holding entity to an Indian entity and consolidating the group's structure within India.

Why Vedanta's Share Price is Rising?

Vedanta's shares continued their upward momentum on Monday, touching a fresh high of Rs 551.45 and gaining 1.5% in intraday trade on the BSE.

The stock has now advanced for the fifth consecutive session, rising 8% during this period. In comparison, the benchmark BSE Sensex was up around 1% on the day.

So far in calendar year 2025, Vedanta has significantly outperformed the broader market, surging 24%. By contrast, the BSE Sensex and the BSE Metal index have gained 8.5% and 21%, respectively.

Vedanta, a subsidiary of Vedanta Resources, is a diversified natural resources conglomerate with operations spanning aluminium, zinc, lead-silver, oil and gas, power, iron ore, steel, ferroalloys, and copper.

The company operates India's largest primary aluminium capacity of around 2.8 million tonnes per annum (MTPA) and holds a leadership position in zinc and lead, with mined metal capacity of approximately 1.2 MTPA.

It is also the world's fourth-largest silver producer.

Supporting the recent rally, Vedanta announced on December 11 that it has been declared the successful bidder for the Genjana Nickel, Chromium and PGE Block after completing the required statutory compliances, as per a letter dated 10 December 2025.

The company said the addition of the Genjana block under Critical Mineral Auctions Tranche III will further strengthen its critical minerals portfolio.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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