Wakefit Innovations entered the Dalal Street on a muted note on Monday with its shares trading at Rs 195 on the NSE, matching its issue price. On the BSE it opened slightly lower at Rs 194.1.However, later the stock price jumped to over Rs 200 on both the benchmarks. On the Bombay Stock Exchange, Wakefit was trading at 202.20, up 4% or 8.10 points from the listing. At the NSE, the stock was up 6.92 points, or 5.55%, to reach 201.92 around 11:54 AM. The flat debut was indicated in the unofficial market as Wakefit’s grey market premium hovered around 3%, suggesting limited upside despite the company’s strong consumer-facing brand, ET reported.

Wakefit IPO

The company’s public issue comprised a fresh equity raise of Rs 377.18 crore alongside an offer for sale of Rs 911.71 crore by existing shareholders. According to the company, funds raised through the fresh issue will be directed towards expanding its physical retail footprint, meeting lease commitments for current stores, acquiring equipment and machinery, and increasing spending on marketing and brand-building. Wakefit has outlined plans to add more than 100 new offline stores, underscoring a stronger push into omnichannel retail as online customer acquisition costs remain high. The Rs 1,289 crore IPO, which concluded on December 10, received overall bids amounting to 2.52 times the shares on offer. Retail investors showed the highest interest, subscribing 3.17 times, followed closely by qualified institutional buyers at 3.04 times. Non-institutional investor participation was comparatively modest, with subscriptions at 1.05 times. Before opening the issue to the public, Wakefit had secured Rs 580 crore from anchor investors, including several prominent domestic and international funds, providing a measure of confidence to the offering amid cautious secondary market conditions, according to ET.

Financial profile

In FY25, Wakefit’s revenue climbed 28% year-on-year to Rs 1,305 crore, while the company reported a loss of Rs 35 crore, higher than the loss recorded in the previous financial year. However, the trend improved in the first half of FY26, when Wakefit posted a profit of Rs 35.6 crore for the six months ended September, supported by better operating leverage and stricter cost management. Based on the issue price, the company commands a valuation of around Rs 6,373 crore. This translates into a price-to-earnings multiple that many market participants view as demanding, given Wakefit’s relatively short profitability track record and the intensely competitive nature of the home and furnishings market. Investors, for now, appear to be waiting for more sustained earnings visibility before re-rating the stock.

About Wakefit

Founded as a digital-first brand in mattresses and sleep solutions, Wakefit played a key role in popularising the category in India through online distribution and value-driven pricing. The company has since broadened its portfolio to include furniture, furnishings and home décor, evolving into a more comprehensive home solutions business.Wakefit now operates across online platforms and a growing network of company-owned and company-operated stores. As of September 2025, it had a presence in 62 cities through 125 offline outlets.

Top stocks to buy (AI image)

Stock market recommendations: According to Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities, the top stock picks for this week are BHEL, and Ashok Leyland. Here’s his view on Nifty, Bank Nifty for the week starting December 15, 2025:Nifty ViewThe benchmark index Nifty kicked off December on a strong note, scaling a fresh all-time high of 26,325 in the very first trading session. However, the initial surge was followed by a familiar market behaviour — a measured and orderly pullback. Since August, the index has consistently followed a well-defined corrective pattern, with declines limited to under 3.5% and each phase spanning roughly 5 to 10 trading sessions. This disciplined price action has been a hallmark of the ongoing uptrend, prompting market participants to watch closely if history would repeat itself yet again.True to form, the latest corrective phase unfolded almost on expected lines. The index retreated close to 2.5%, with the correction extending over eight trading sessions, perfectly in sync with its established rhythm. Importantly, the 50-day EMA once again emerged as a key demand zone, arresting the decline and helping the index form a solid base. Adding to the constructive setup, Nifty has now formed small-bodied candles with long lower shadows for the third week in a row — a classic indication of sustained buying interest at lower levels. What this recurring pattern reveals about the market’s underlying resilience is where the real insight lies.Currently, Nifty is trading above both its short-term and long-term moving averages, with their upward slope suggesting improving trend strength. Momentum indicators echo this view, as the daily RSI has rebounded sharply from the 44.50 region and is now hovering around 54.48, comfortably above its 9-day average. This convergence of trend and momentum raises an important consideration: is the index quietly building the foundation for its next directional move?From a level’s perspective, the 26,150–26,200 zone is likely to act as an immediate resistance area. A sustained breakout above 26,200 could trigger a swift upside move towards 26,350, followed by 26,500 in the near term. On the downside, the 50-day EMA band of 25,750–25,700 is expected to provide a strong support cushion against any corrective pressure.Bank Nifty ViewThe banking benchmark index Bank Nifty underperformed the broader market last week, settling at 59,390 with a weekly decline of 0.66%. For the second week in a row, the index printed a small-bodied candle accompanied by a long lower shadow, highlighting buying interest at lower levels but also reflecting the absence of strong bullish follow-through.During the week, Bank Nifty spent most of its time hovering around the 20-day EMA, underscoring prevailing indecision and subdued momentum. Consistent with this price behaviour, the daily RSI continues to move in a sideways band, suggesting consolidation rather than the emergence of a directional trend.Looking ahead, the 59,700–59,800 zone is likely to act as a key resistance area. A decisive and sustained move above 59,800 could open the door for a sharp upside move towards 60,500, and if momentum strengthens further, the index may even test the 61,000 mark in the near term. On the downside, the 58,800–58,700 zone will serve as immediate support, and a breakdown below this level could increase downside pressure.

Stock recommendations:

BHELBHEL had struggled to close decisively above the 280 mark for the past six sessions, making it a strong resistance zone. On 12th December, the stock finally broke above this level on a notable rise in volumes, signalling strong buying conviction. With this breakout, the stock has also closed above the midline of the Bollinger Bands, indicating a shift toward positive price momentum.The RSI has moved up from 45 to 59, reflecting improving bullish strength. Additionally, the shrinking red MACD histogram bars suggest selling pressure is fading and a potential bullish crossover may be nearing, reinforcing the improving upward bias. Hence, we recommend to accumulate the stock in the zone of 285-282 with a stoploss of 275. On the upside, it is likely to test the level of 305 in the short term.Ashok LeylandAshok Leyland broke out of a tight 155–161 consolidation range of the last three trading sessions and closed higher, signalling renewed buying strength. The stock continues to trade comfortably above its key short and long-term moving averages, reinforcing a strong underlying trend. The Nifty Auto/Nifty ratio chart shows the ratio line bouncing off its upward-sloping trendline, highlighting sectoral outperformance with Ashok Leyland at the forefront. ADX is in a rising mode, indicating strengthening trend momentum, while the MACD line holding well above the zero line reflects sustained positive bias. RSI has climbed from 62 to 70, suggesting strong bullish momentum. Hence, we recommend to accumulate the stock in the zone of 164-162 with a stoploss of 156. On the upside, it is likely to test the level of 175 in the short term.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

A minor road altercation on the Katraj–Dehu Road bypass escalated into a brutal attack, leaving a 28-year-old Mumbai woman with a grievous eye injury

PUNE: What began as a minor road altercation on the Katraj–Dehu Road bypass turned into a brutal attack that left a 28-year-old Mumbai woman with a grievous eye injury and uncertain chances of regaining her vision. The Chembur resident, an HR professional, suffered severe damage to her left eye and had to undergo emergency surgery after three men on a two-wheeler allegedly chased the car she was travelling in, pelted it with stones and smashed its windows. The incident occurred near an underpass in Pune after the car reportedly ran over the foot of one of the men during an overtaking manoeuvre. According to police, the three men were detained and later released after being served notices as per procedure. As per the FIR, the woman, Puja Gupta, was seated in the passenger seat while her fiancé drove the car back to Mumbai on December 6, following a visit to his parents in Gaikwadnagar, Punawale. While overtaking a two-wheeler, the car’s tyre allegedly went over the foot of one of the riders. Though no one was injured, the incident sparked a heated argument. The men allegedly abused the couple, and one of them threw a stone at the car’s windscreen, shattering it. Fearing for their safety, the couple tried to flee but were forced to slow down after getting caught in a traffic jam near the Punawale underpass. The attackers reportedly caught up with them and smashed the remaining windows, including the rear windscreen. During the attack, a shard of broken glass pierced Gupta’s left eye, causing a serious injury. She was rushed to a private hospital in Chinchwad, where doctors performed an emergency corneoscleral repair surgery in an attempt to save her vision. More than a week after the operation, Gupta said her eyesight has not returned. “Doctors had initially said one surgery might be sufficient, but they also warned that another procedure could be required if my vision does not improve. They are unsure whether my eyesight will be fully restored because blood has accumulated inside the eye,” she told TOI. The FIR has been registered under sections 126(2) (wrongful restraint), 125 and 125(a) (rash or negligent acts endangering life or personal safety), 324(4) (mischief), and 352 (intentional insult with intent to provoke breach of peace) of the Bharatiya Nyaya Sanhita (BNS). Gupta said she had urged the police to invoke the charge of attempted murder. “That was not done, and the accused were allowed to go home despite causing such serious injuries. They must be punished strictly so that they think twice before hurting anyone again,” she said.

Top stocks to buy (AI image)

Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting December 15, 2025) are SBI Life, and RBL Bank. Let’s take a look:

SBI LifeSBI Life is expected to sustain steady operating performance with strong growth in Annual Premium Equivalent (APE) and Value of New Business (VNB), supported by a favorable product mix shift toward protection and non-par offerings. VNB margin improved to 27.9% in Q2FY26, even after a 70–80bp drag from the GST-related input tax credit loss in 1HFY26. Momentum remains robust in high-margin categories, with individual protection rising 24% YoY and non-par savings and annuity segments growing 40–50%. Persistency has strengthened, and assets under management increased 10% YoY to ₹4.8tn, reinforcing long-term earnings potential. Management maintains confidence in achieving 13–14% individual APE growth for FY26 and reiterates its 26–28% VNB margin outlook, expecting product mix improvements, higher rider penetration, and cost efficiencies to offset GST-related pressures. Structural shifts toward protection, non-par products, and digital sourcing continue to support sustained value creation.RBL BankRBL Bank’s growth prospects improve meaningfully with Emirates NBD’s proposed USD3 billion investment, giving ENBD a 60% promoter stake that will rise to 62% once its India branches merge with the bank. The infusion strengthens RBK’s net worth and brings a highly profitable global partner with strong capabilities in funding, corporate banking, remittances, treasury, and risk management.Operational metrics are trending positively, with margins, asset quality, and profitability improving on the back of better liability management and a more balanced asset mix. Growth remains solid as the bank deliberately slows unsecured lending and scales secured products including MSME, gold loans, SME and mid-corporate, tractors, affordable housing, and secured business loans. With easing macro pressures, a more secure loan book, ENBD’s expertise, and rising operating leverage, RBL is positioned for stronger, more diversified, and more profitable expansion.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

China’s November economic data pointed to a continued strain as retail sales fell to a three-year low and both consumer spending and investment weakened. Figures released on Monday by the National Bureau of Statistics showed that retail sales increased by only 1.3% from a year earlier, marking the slowest growth since the Covid period and falling well short of expectations. The figures missed Bloomberg’s estimate, that had projected sales growth to hold steady at 2.9%, similar to October.Factory output also softened, with industrial production expanding 4.8% in November, missing Reuter’s estimate of a 5% rise. A month earlier, the figures stood at 4.9%. Investment activity also remained under pressure, as fixed-asset investment declined 2.6% in the first 11 months of the year amid a continued collapse in property investment, according to Bloomberg. The urban unemployment rate was unchanged at 5.1%, indicating little improvement in labour market conditions. Annual car sales also plunged to 8.5% in November, marking the steepest decline in 10 months. The figures came as a disappointment to an industry that usually sees a strong sales in the last two months of a year, Reuters reported. It further added that even after the Singles’ Day Shopping festival stretched across five weeks this year, failed to woo customers. China’s difficulty in reviving domestic consumption is making the economy more exposed to external risks. In recent months, growth has relied largely on overseas demand, even as the tariff war launched by US President Donald Trump continues to reshape global trade. At home, weak demand from consumers and businesses has dragged on the world’s second-largest economy for years, leading to deflation that has hit profits and wages. Recent trends, according to Bloomberg, point towards further headwinds, with loan growth slowing and investment registering a sharp and unexplained drop in recent months. These concerns were reflected in last week’s high-level economic meetings, where China’s leadership placed the expansion of domestic demand at the top of the agenda for the year ahead, citing uncertainty in foreign trade. While officials reaffirmed their intention to keep growth-supportive policies in place, they stopped short of signalling any immediate, forceful intervention.

Goa nightclub owners Saurabh and Gaurav Luthra have been detained in Thailand for illegal stay and are being deported to India

NEW DELHI: The Indian Embassy in Bangkok is in close coordination with Thai authorities following the detention of Goa nightclub owners Saurabh Luthra and Gaurav Luthra in Phuket, sources said to news agency ANI. The duo, owners of the now-charred nightclub Birch by Romeo Lane in Goa’s Arpora, are currently in Thai custody and are being processed for deportation to India in accordance with local laws. A team from the Central Bureau of Investigation arrived in Phuket on Saturday to complete formalities related to the brothers’ return.The Indian embassy is issuing emergency certificates, one-way travel documents to facilitate their deportation after their Indian passports were suspended by the Union government, officials confirmed. Goa chief minister Pramod Sawant told The Times of India that the investigative team had reached Thailand and that the process to bring the Luthra brothers back was underway. Goa DGP Alok Kumar also said the duo was expected to be in India next week. The Luthra brothers were detained by Thai authorities last week after it emerged that they were staying in the country illegally. They had fled India just hours after a massive fire broke out at their nightclub in Arpora on the night of December 6, even as police and fire personnel were still battling the blaze and rescuing trapped patrons. Following their departure, the regional passport office in New Delhi issued notices to both brothers, seeking explanations on why action should not be initiated to impound their passports. Soon after a lookout notice was issued, the Ministry of External Affairs moved to suspend their travel documents, rendering their stay in Thailand unlawful and prompting local authorities to detain them. India and Thailand have a formal extradition treaty, signed in 2013 and in force since June 29, 2015. While the current process involves deportation rather than extradition, officials said the treaty provides a robust legal framework for cooperation in such cases. Meanwhile, the Goa police investigation into the devastating fire at Birch by Romeo Lane has revealed glaring regulatory lapses. Investigators found that the nightclub had been operating illegally for nearly 18 months without mandatory permissions and on an expired licence. A senior officer involved in the probe said the licence had not been renewed because the establishment failed to obtain required clearances since 2024. So far, several arrests have been made in connection with the case. These include Gurgaon resident Ajay Gupta (55), a business partner of the Luthra brothers; New Delhi natives Rajiv Modak (49), the club’s chief general manager, and Priyanshu Thakur (32), the gate manager; Uttar Pradesh natives Rajveer Singhania (32), bar manager, and Vivek Singh (27), general manager; and Delhi-based Bharat Kohli. According to police, more than 150 tourists were inside the nightclub when the fire broke out around 11.45 pm during a weekend event. A preliminary probe by the police and the directorate of fire services concluded that electric firecrackers used during the event struck the wooden ceiling, triggering the blaze that rapidly engulfed the premises and claimed 25 lives. Goa police continue to record statements of government officials, fire department personnel and others as the investigation widens, even as efforts intensify to bring the main accused back to India to face criminal proceedings.

Morgan Stanley has an overweight rating on Adani Power with a target price Rs 185. Analysts said the company expects to achieve 100% tie up for 23.7GW under construction capacity by next year. The company targets to reduce current united capacity from 10% to 3-4%. Analysts said that at current tariffs, they expect earnings before interest, taxes, depreciation, and amortization (EBITDA) to be Rs 3.7/unit for new bids. They said the company’s current capex is between Rs 95-100 million/MW, compared to peers’ Rs 150 million/MW due to advance equipment ordering and faster execution.CLSA maintained outperform rating on Dixon Technologies with the target price at Rs 18,800. Analysts said that the stock corrected on concerns around FY27 earnings per share (EPS). And the company’s joint venture with Vivo is pending, which is expected to contribute 20 million units to smartphone volumes. Dixon is yet to secure approvals for establishing components facilities under the govt’s Electronics Component Manufacturing Scheme (ECMS). And low visibility on medium-term growth prospects is a concern. Even with significant delays in Vivo’s operations, the stock trades at 44x multiple, they said.HSBC maintains buy on Tata Steel with the target price at Rs 215. Analysts said the restart of India’s growth capex is a positive for the steel industry and the company. The company’s multiple India expansion projects are also positives for the stock. They said that the capex details should come by March 2026. Near-term earnings pressure remains but safeguard duty should come in soon.Jefferies maintained its buy rating on BPCL with the target price raised from Rs 430 to Rs 435. The company is a play on refining strength, favourable valuation. Its earnings outlook remains strong with crude below $70/bbl, and there’s oversupply in the market. They also said that on a year-to-date basis in FY26, refining margins have surged 51%. Marketing margins above normative level, while LPG compensation is expected to boost profits. Analysts reiterated ‘buy’ on refining strength and supportive margins.Citigroup has a buy recommendation on IGL with the target price at Rs 260. Analysts said Delhi’s air pollution crisis fuels clean energy mandates, improving volume prospects while concerns regarding the transition to EV cabs in Delhi have eased. The govt is adopting a more pragmatic approach and is looking to revise its vehicle aggregator scheme with more relaxed transition timelines.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)