Stocks to Watch, Dec 18: AMC and capital market stocks, HCLTech, TCS, Texmaco Rail, Titagarh Rail, Cyient, Trishakti Ind, Paytm

The SEBI board decided to tweak the expense structures for the MF industry by introducing the concept of a base expense ratio (BER), which excludes statutory levies like security transaction tax and GST, which is a departure from the current system focused on the total expense ratio (TER).

The concept of TER stays and shall be the sum of the BER, broking, regulatory levies and statutory levies.

SEBI Chairman Tuhin Kanta Pandey told reporters that the taxes and levies vary from time to time, and hence, BER is a better way of looking at the expenses the industry charges.

The SEBI chief said the regulator has settled to opt for a "balanced" set of rules rather than the "radical" proposals which had come out as part of the discussion paper earlier this week, which had led to investor unease on AMC stocks, and did not reply directly to a question on whether the new set of measures will hurt the profitability of companies or help the retail investors.

The regulator also declared a rationalisation of broking limits, cutting the cap of 0.12% to 0.06%, and cutting the same for derivative transactions from 0.05% to 0.02%.

It also ended an additional 0.05% exit load measure, first introduced in 2018. Pandey said the new rules will be applicable from April 1 next year.

Over the past two trading sessions, Bhavish has reduced his stake by more than 1.5%, raising a total of ₹234.17 crore. As of September 2025, the promoter shareholding in Ola Electric stood at 36.78%.

The combination establishes a scaled platform in the $40B+ power semiconductor market, accelerating Cyient Semiconductors’ growth trajectory across data centres, electrification, automotive, networking, industrial automation, and the fast-emerging edge AI compute segment.

Cyient Semiconductors is a wholly owned subsidiary of Cyient.

The order is valued at ₹273.24 crore (inclusive of GST).

The MoU marks an important milestone in KP Group’s international expansion and Botswana’s ambition to become a net-zero country by 2030.

According to the bulk deal data available with the NSE, Imperial Chemical Industries Ltd offloaded a little over 40.97 lakh shares, representing a 9% stake in AkzoNobel India Ltd (ANIL).

The shares were disposed of at an average price of ₹3,163.50 apiece, taking the deal value to ₹1,296.09 crore.

NTPC declared the commercial operation date (COD) of part capacity of 243.66 MW out of the 1,255 MW Khavda-I Solar PV project of NTPC Renewable Energy, a step-down subsidiary of NTPC, through its subsidiary NGEL.

Further, the company declared COD of 78 MW out of 245 MW capacity of NTPC's Nokh Sokar PV project (3 x 245 MW) in Rajasthan.

The Mumbai-headquartered firm, TCS, for the first time has disclosed its AI revenue, placing it among the few Indian companies to do so.

Taking to the stage on TCS Analyst Day 2025, Krithivasan said, "Our AI-related services have garnered a total revenue of USD 1.5 billion annualised. About 54 of the top 60 clients use TCS for AI. 85 per cent of all clients, greater than 20 million, leverage TCS for their AI work. Based on the success we've been able to get in the market from our customers, our QoQ growth on AI alone has gone up by 16.3%."

The CEO added that the company has executed over 5,500 AI projects and completed 209 platform deployments.

Suri, who has been associated with the company since 2021 as an Independent Director, holds extensive experience from his tenure in the Indian Foreign Service and the Ministry of External Affairs. He has previously held roles including India’s Ambassador to Egypt and the United Arab Emirates, High Commissioner to Australia, and Consul General in Johannesburg.

He succeeds Upasana Taku, Executive Director, CFO and Co-Founder of MobiKwik, who previously chaired the Board.