Infosys promoter Shreyas Shibulal sells nearly 20 lakh shares for ₹317 crore

Infosys promoter Shreyas Shibulal sells nearly 20 lakh shares for ₹317 crore


Shreyas Shibulal, Founder and Director of Micelio Mobility and a promoter of Infosys

Shreyas Shibulal, son of former Infosys CEO SD Shibulal and a promoter of the company, has sold nearly 20 lakh equity shares for over ₹316.90 crore, according to a regulatory filing.

In a letter to the BSE, Shreyas disclosed that he sold approximately 19.93 lakh shares in the open market on Wednesday and Thursday, at prices ranging between ₹1,587 and ₹1,592 per share. This sale accounts for 0.05 per cent of the company’s total shares. 

Post-sale, he holds more than 1.79 crore shares, representing 0.44 per cent of Infosys’ total equity. Prior to this transaction, his shareholding stood at 1.99 crore shares, or 0.49 per cent of the company.

Shreyas Shibulal is the Founder and Director of Micelio Mobility. Within the family, he holds the largest stake, followed by Shruti and Kumari Shibulal, who own 0.21 per cent and 0.12 per cent respectively.

Buyback of shares

Parallely, in a board meeting held in September, Infosys approved its largest-ever share buyback worth ₹18,000 crore.

Under this programme, Infosys plans to repurchase 10 crore fully paid-up equity shares with a face value of ₹5 each, representing up to 2.41 per cent of the total paid-up equity capital, at a price of ₹1,800 per share.

Published on December 11, 2025



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US Fed rate cut, bond buy could draw FPIs to India, support rupee

US Fed rate cut, bond buy could draw FPIs to India, support rupee


A customer holds hundred rupees Indian currency notes near a roadside currency exchange stall in New Delhi
| Photo Credit:

The US Fed’s twin action of a rate cut and announcement that it will start buying US Treasury Bills could attract FPI investments into the Indian debt and equity markets and have a positive effect on the rupee, say experts.

The US Federal Reserve cut interest rates by 25 basis points to 3.50 per cent to 3.75 per cent range. As part of liquidity infusion measures, it also announced that it will start buying around $40 billion in Treasury bills per month.

Amit Pabari, MD, CR Forex Advisors, observed that the latest US Fed’s actions — a 25 bps rate cut (third consecutive cut since September) and the decision to restart bond purchases of about $40 billion per month — mirror what the RBI recently did: cut rates and inject liquidity into the system. In effect, both central banks have eased simultaneously.

More liquidity

Pabari opined that from a currency perspective, when the Fed adds liquidity by buying Treasury bills, the supply of dollars rises, which typically weighs on the dollar. A softer dollar generally supports emerging-market currencies, including the Indian rupee.

“That said, the extent of dollar weakness may be limited. Fed Chair Jerome Powell signalled a more cautious approach ahead, saying the Fed is “well positioned to wait and see how the economy evolves”,” he said

The updated dot plot also points to only one rate cut in 2026 and one more in 2027, suggesting the Fed is not embarking on a deep easing cycle.

“For India, the overall impact is constructive. Rate differentials remain stable since the RBI’s cut has effectively been matched by the Fed. This helps maintain steady debt FPI flows into India.

“Higher global liquidity tends to favour risk assets. As dollar liquidity rises, risk sentiment globally improves, which can translate into continued or stronger equity inflows globally, as well as into emerging markets,” said Pabari.

Further, a mildly weaker dollar plus stable inflows is generally positive for the rupee. The rupee on Thursday closed at a record low of 90.4825 per US dollar, weighed down by the delay in India clinching a tariff deal with the US and importer demand.

The Indian currency (INR) closed about 52 paise down against previous close of 89.9650 per US dollar (USD). On Thursday, INR surpassed the previous week’s record low of 90.43 per dollar.

Naveen Vyas, Senior Vice-President, Anand Rathi Global Finance, said the Fed’s 75 bps rate cut in 2025 is expected to boost global liquidity and reduce returns on US bonds, prompting the investors to seek higher yields in emerging markets like India. This typically increases FPI inflows into Indian equities and debt.

“Till now in 2025, FPI have sold $17.7 billion in Indian equities which we expect to moderate and may also lead to FPI inflow in 2026. Overall, Fed rate cuts create a positive environment for Indian markets through higher capital flows, supportive currency trends, and stronger investor sentiment,” he said.

However, the Fed’s new bond purchase plan is neutral for Indian market as this new plan is not the same as the large-scale quantitative easing (QE) programs seen in the past. Those earlier programs involved massive bond buying across the curve and were aimed at strongly boosting growth and markets.

Vyas observed that the current move is more of a technical step to ensure there is enough liquidity in the US banking system and money markets. Because of this, the impact on FPI flows into India will be helpful but not transformational. The bigger drivers of foreign investor flows will still be factor of Fed cutting interest rate.

Published on December 11, 2025



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IndiGo CEO presents cancellation facts to DGCA, summoned again

IndiGo CEO presents cancellation facts to DGCA, summoned again


IndiGo Chief Executive Officer Pieter Elbers
| Photo Credit:
Shahbaz Khan

New Delhi, Dec 11

IndiGo Chief Executive Pieter Elbers has been summoned for a second consecutive day on Friday by the civil aviation safety regulator after he presented detailed facts on the mass flight cancellations.

On Thursday, Elbers met officials of the Directorate General of Civil Aviation (DGCA) as the airline is under investigation for large-scale operational disruption. IndiGo has submitted a revised schedule for winter-season operations to the DGCA on Wednesday. At present, the regulator is examining the airline’s proposal.

Meanwhile, IndiGo said it expects to operate more than 1,950 flights as part of its ongoing stabilisation efforts on Thursday.

Travel vouchers

The airline has simultaneously moved to compensate passengers who were severely affected during the disruption. As per the carrier, ₹10,000 travel vouchers are being issued to impacted travellers, in addition to statutory refunds starting at ₹5,000.

IndiGo said that full connectivity across all 138 domestic and international destinations has been restored since December 8.

The airline said overall operations stabilised from December 9, with no same-day cancellations for the past three days except negligible cases arising from weather, technical or other external factors.

The carrier also stated that its on-time performance has returned to normal IndiGo standards.

The airline said it continues to strengthen network recovery and is currently operating more than 1,900 flights daily. It expects to cross 1,950 flights on Thursday, carrying nearly 3 lakh passengers.

Gradual improvement

The airline’s operational data showed a gradual improvement, with more than 1,700 flights being operated on December 8, over 1,800 on December 9, and more than 1,900 on December 10.

According to the airline, travellers who were stranded for several hours on December 3, 4 and 5 due to airport congestion will receive ₹10,000 travel vouchers valid for any IndiGo journey over the next twelve months.

This amount, the airline said, is in addition to the compensation mandated under government rules, which ranges from ₹5,000 to ₹ 10,000 depending on block time.

In addition, IndiGo has lowered its capacity and revenue guidance for the third quarter of FY 2026 following the civil aviation ministry-mandated 10 per cent reduction in schedules.

Published on December 11, 2025



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Govt plans to accord ‘permanent approval’ to nano-fertilizers

Govt plans to accord ‘permanent approval’ to nano-fertilizers


The Indian government plans to issue permanent approval for nano-fertilizers in place of current three-year term as part of “ease of doing” business since the technology is getting adopted by farmers not only in India buy as many as 25 other countries. However, before issuing such an approval, even for new application, the Agriculture Ministry wants all the data from test results thoroughly get evaluated by experts.

Addressing the annual conference of the Fertiliser Association of India (FAI) in New Delhi, Agriculture Secretary Devesh Chaturvedi said that since nano-fertilizer is a new technology, it is natural to see some resistance. But, as the product is good for the crop and the soil, the acceptability would emerge.

He said that companies have been asked to submit test results to the government so that the approval become permanent and they do not have to re-apply every three year.

Next renewal

It is learnt that while the nano-urea of IFFCO has already been renewed for another three years, the next renewal of the product of some other companies is due in June 2026. I

However, Chaturvedi, in a veiled warning to the fertilizer industry, said that companies should desist from “tagging” nano-fertilizers or other products like bio stimulants with subsidised fertilizers. “That (tagging) actually leading to unnecessary complaints. We believe it (nano-fertilizer) is something useful. But, because it is being forced on the farmers, there is a negative thing emerging.”

He said when it becomes an imposed way of action, despite a good product, it converts into a complaint. That sort of system should be avoided, he said.

“My request to all the companies here, is that we should try educating the farmers, and we will help in that sector and will work with you, so that farmers themselves start adopting this new technology,” he said.

Wrong portrayal

Speaking with media earlier this week, IFFCO’s managing director K J Patel said already officers have been instructed not to tag any product with subsidised fertilizers. However, he said that as the retail sales points also sell non-subsidised agri inputs, many a times it is wrongly portrayed as forced sale even if it is a request from the retailer to the farmer.

But, Chaturvedi said that many times companies actually force it on the wholesalers and then the wholesalers force it on the retailers and then retailers force it on the farmers. He asked companies to analyse the reasons, find out the roadblocks when any new product faces any challenge. There is always a sort of hesitation by the farmers because of tagging, he added.

Minister of State for Agriculture Bhagirath Choudhary on December 9 told Parliament that the Indian Council of Agricultural Research’s (ICAR) five-year network project, titled ‘Evaluation of nano urea on crop productivity and nitrogen use efficiency in diverse agro-ecological zones of India’, was to understand the long-term effects of nano urea on soil nutrients, crop yield and quality.

Agronomic trials

The ICAR is doing an independent evaluation of nano-fertilizers at an estimated cost of ₹15 crore by testing its efficacy in thousands of locations across the country. However, experts have questioned how that would be fair if the project is getting funded by the producing companies.

The study actually necessitated after mixed reports from different research bodies and state universities. Separate research conducted by the Punjab Agricultural University, Indira Gandhi Krishi Vishwavidyalaya, Raipur, and Vivekananda Parvatiya Krishi Anusandhan Sansthan, Almora on different crops has found that the use of nano urea has had a negative impact on grain yield and quality.

But, agronomic trials conducted at Hyderabad, Karnal, Bengaluru, Jobner and Kalyani reported increased yield of cereals and oilseeds by 5-15 per cent after two foliar sprays of nano urea.

Published on December 11, 2025



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Rupee sinks to a new low of 90.48/dollar

Rupee sinks to a new low of 90.48/dollar


The Indian currency closed about 52 paise down against previous close of 89.9650 per US dollar. On Thursday, INR surpassed the previous week’s record low of 90.43 per dollar

The rupee on Thursday closed at a record low of 90.4825 per US dollar, weighed down by the delay in India clinching a tariff deal with the US and importer demand.

The Indian currency (INR) closed about 52 paise down against previous close of 89.9650 per US dollar (USD). On Thursday, INR surpassed the previous week’s record low of 90.43 per dollar.

Thursday’s closing low was also the intraday low. The intraday high was 89.96 per dollar.

Vikram Kasat, Head Advisory, PL Capital, said the Indian rupee weakened further and closed near a record low as a strong dollar and persistent foreign outflows kept pressure on the domestic currency.

With the Fed’s rate cut now digested and domestic cues limited, markets will take direction from global sentiment, currency trends and institutional flows in the near term, he added.

Emkay Global Financial Services, in a report, said: “Currency-related stress should continue to weigh on economic stability, leaving vulnerability elevated through Q1 calendar year 2026.” A trade deal could alleviate pressure on rupee.

Impact on India Inc

Meanwhile, Fitch Ratings observed that most Indian corporates in its rated portfolio either enjoy a degree of natural hedging against movements in the value of the Indian rupee or generally fully, or substantially, hedge their foreign currency obligations.

Nonetheless, in sectors with significant vulnerability to rupee depreciation, the rating agency anticipates that a hypothetical failure by issuers to substantially mitigate foreign-exchange (FX) risks through hedging could put downward pressure on ratings.

Fitch noted that its portfolio of issuers in the renewables, power utility and toll road sectors generally earn revenues in local currency and lack natural hedges, making them more vulnerable to rupee depreciation.

Some companies in these industries have fully or substantially hedged their foreign-currency debt coupon and principal obligations, either via hedging instruments or through maintaining foreign-currency borrowings at less than 20 per cent of consolidated debt, the agency said. Rupee depreciation is unlikely to influence these companies’ ratings.

“Other issuers in these sectors are only partially hedged, for example, with some or all principal repayments being exposed beyond certain levels of exchange-rate movement, although coupon payments are generally fully hedged across issuers.

“Even for these issuers, we do not expect a significant ratings impact if the rupee is marginally weaker than under our rating case, which currently sees the currency at INR87:USD1 by 2026-end, from around INR90:USD1 as of December 9,” said Fitch.

This is largely due to structural protections against FX risk exposures, such as parent company guarantees, interest coverage via intra-company loans, earmarked liquidity for FX outflows, and cash-trap mechanisms.

Published on December 11, 2025



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