Stocks to Watch, December 10: Swiggy, IndiGo, Grasim, Graphite India, Anupam Rasayan, Zydus Life, Godrej Agrovet, IRB Infra, Meesho

Civil Aviation Minister K. Rammohan Naidu, in a statement, also said that IndiGo CEO Pieter Elbers was summoned to the ministry to provide an update, and he "confirmed" that 100% of the refunds for flights affected till December 6 have been completed.

Earlier in the day, aviation safety regulator DGCA had issued an order, saying that IndiGo's flight schedule was being cut by 5 per cent.

The ministry considers it "necessary" to curtail the overall IndiGo routes, which would help in stabilising the airline's operations and lead to reduced cancellations, Naidu said.

Under the agreement, GIL becomes the exclusive distributor of Kivoro’s Heat Transfer Additive across the Republic of India, focusing on deployment within the corrugated paperboard sector—a fast-growing, efficiency-driven industry where thermal performance improvements can significantly reduce energy consumption and costs.

The newly commissioned transmission line will enable the evacuation of 1,000 MW of hydropower from the Tehri–Koteshwar generation complex in Uttarakhand to six northern states and three union territories (UTs), the firm said in a regulatory filing dated December 9.

The company allotted 1.28 crore equity shares at ₹145 each to institutional investors, including Arven, Vintage, PCC-Elite Capital Fund and Beacon Stone I, Ratnaveer Precision Engineering said in a statement.

The fresh capital will help Ratnaveer move forward with its plan to acquire European precision engineering companies, which have long-standing expertise in machining for automotive, aerospace and defence sectors.

The purchase consideration accounts for the payment against the equity value of Jayhawk and existing loans payable to the exiting shareholders, Anupam Rasayan said in a statement.

Accounting for about $16 million of cash and cash-like items for Jayhawk as of June, the purchase consideration translates to an enterprise value of about $134 million, the company said.

Jayhawk, part of the CABB group, posted revenues and adjusted EBITDA of about $78 million and $15 million, respectively, in 2024.

The company said its next phase of growth will come from our mass-market segments of state boards, foundations (Classes 6–10), and vernacular-language categories.

"We expect FY27 to be a PAT-positive year, as cost efficiencies continue to strengthen. We expect our newer online categories to mature and achieve profitability levels comparable to our early categories. Simultaneously, our older offline centres will reach maturity. These combined factors will drive sustained, company-wide profitability on a full-year basis," the company said in a letter to shareholders.

The company said its mature centres are now entering a steady-state margin of 12-15% due to improving operating leverage.

International Holding Company (IHC), through its affiliate Avenir Investment RSC Ltd, is acquiring stakes in Sammaan Capital.

The development came after IHC announced in October that it had entered into an agreement to invest $1 billion (₹8,850 crore) and would pick up a 43.46% stake in Sammaan Capital.

The Competition Commission of India (CCI) said it has approved the proposed deal.

Zydus Lifesciences Global FZE has entered into a strategic partnership for the exclusive licensing and supply of checkpoint inhibitor FYB206, a biosimilar of Keytruda (Pembrolizumab).

Under the terms of this agreement, Formycon AG will develop, register, manufacture and supply the product, while Zydus Lifesciences Global FZE will be responsible for the commercialisation of FYB206 in the defined territories, the Ahmedabad-based drug maker said in a statement.

The plant, to be built on 40 acres, will manufacture value-added dairy products under the Godrej Jersey brand and create more than 300 jobs over three years, the company said in a statement.

The investment was announced through a memorandum of understanding signed at the Telangana Rising Global Summit 2025.