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Sectors in Focus

Major Corporate Developments This Week

1. Ashoka Buildcon : Adani-Ashoka-Aakshaya (a joint venture in which Adani Road Transport Limited holds 51% as lead member, Ashoka Buildcon holds 26%, and Aakshaya Infra Projects holds 23%) has received a Letter of Acceptance for the Mithi River Development and Pollution Control Project worth Rs 1,815.79 crore from the BMC.
2. Lloyd metal and Energy: Subsidiary Lloyds Global Resources FZCO will acquire a 50 per cent stake in Nexus Holdco FZCO for up to $55 million. Nexus owns majority stakes in Surya Mines SARL and eight other DRC-based firms with mining concessions and a copper plant. The Board also approved a non-binding MoU with Tata Steel to explore collaboration across mining, logistics, pellets and steelmaking.
3. TCS: Announced that its Board has approved and executed a Securities Purchase Agreement to acquire 100% of Coastal Cloud Holdings, LLC and its subsidiaries, a leading US-based Salesforce Summit partner. Coastal Cloud specializes in Salesforce consulting, implementation, and managed services across multiple clouds, with strong expertise in AI, Agentforce, Data Cloud, and related technologies. It reported consolidated turnover of USD 132 million for FY24 and USD 141 million for the last twelve months ending September 2025, and employs nearly 400 Salesforce-certified professionals. The acquisition is an all-cash deal with an enterprise value of up to USD 700 million.
4. Fineotex Chemicals: Company acquires US-based CrudeChem Technologies to scale global oilfield chemicals play. CrudeChem makes eco-friendly oilfield chemical solutions for top energy producers , backed by labs & plants across Texas, serves $11.5B North America market. Fineotex aims to build a $200M oilfield chemicals business over coming years. Deal expands reach beyond textile/water to upstream, midstream, refining & ESG.
5. Tata Steel: The Board cleared a 4.8 MTPA Phase 1 expansion at Neelachal Ispat Nigam (NINL) to strengthen its long-products portfolio. It also approved a 0.7 MTPA HRPGL line at Tarapur and the acquisition of a 50.01 per cent stake in Thriveni Pellets.
6. Cipla: Launches Yurpeak® in India for Diabetes & Obesity Treatment. Priced the same as Mounjaro®, another tirzepatide brand by Lilly. - Nationwide expansion planned, including non-metro regions, leveraging Cipla’s distribution network.
7. Mazagon Dock Shipbuilders : The company has signed an MoU with the Brazilian Navy and the Indian Navy to collaborate on maintenance of Scorpène-class submarines and other military vessels. The partnership covers cooperation in procurement, sharing defence industry experience, and joint work in research, development, and technological innovation.
8. Escorts Kubota: Company unveils New BS V-Compliant Construction Equipment at Excon 2025
9. AU Small Finance Bank: The Department of Financial Services has approved AU Small Finance Bank’s proposal to enhance its foreign investment limit from 49% to 74%. The increased limit will help the bank maintain a sufficient headroom for foreign investment through permissible modes, in compliance with the consolidated FDI Policy and the Foreign Exchange Management (non-debt instruments) Rules, 2019, as amended from time to time.
10. Anupam Rasayan: Company has signed a definitive agreement to acquire a 100% equity stake in Jayhawk Fine Chemicals Corporation, a U.S.-based specialty chemical company and part of CABB Group, for a purchase consideration of $150 million. Together, we will leverage our complementary strengths to accelerate growth, enhance our global presence, and deliver greater value to customers across key sectors such as aviation, semiconductors and electronics.
11. Zaggle Prepaid Ocean Services Ltd: The company has announced that it has entered into a 5-year referral agreement with Mastercard Asia/Pacific Pte Ltd, an international entity. Under the agreement, Zaggle will offer Mastercard credit cards and related solutions to its customers and prospects, and will earn additional incentives linked to card spend.
12. Swiggy: The food delivery company has launched its Rs. 10,000-crore ($1.11 billion) QIP, with the indicative floor price set at Rs. 371 per share about 6.8% below the previous close of Rs398.05.
13. Zydus Lifescience : The company’s subsidiary, Zydus Lifesciences Global FZE (United Arab Emirates), has entered into a strategic partnership with Formycon AG for the exclusive licensing and supply of checkpoint inhibitor FYB206, a biosimilar of Keytruda (Pembrolizumab), for the USA and Canadian markets.
14. Tata power: Company announced the commissioning of the 400 kV Koteshwar–Rishikesh transmission line, which will enable the evacuation of 1,000 MW of hydropower from the Tehri–Koteshwar generation complex in Uttarakhand to multiple northern states and union territories.
15. National Aluminium Company: NALCO awards MDO contract for Pottangi Bauxite Mines to Dilip Buildcon (L-1 bidder) - Base mining charges fixed at Rs. 423 per ton - Contract spans 25 years.
16. SolarWorld Energy Solutions: Company signs BESPA for 200 MW/400 MWh BESS project in Gujarat worth Rs 806.4 cr
17. Time Technoplast: Company partners with Imperial auto industries & Poppe + Potthoff GmbH to advance hydrogen systems in India.
18. Graphite India: Company & Kivoro Partner to Bring Graphene-Based Heat Tech to India

TechnoFunda Investing Quote from Legends -

Peter Lynch’s quote emphasizes that wealth creation isn’t just about earning money—it’s about how effectively you save and invest it. Many people focus solely on increasing their income, but true financial prosperity comes from putting money to work through disciplined saving and smart investments. Over time, compounding amplifies the returns on invested money, allowing wealth to grow exponentially. By consistently investing rather than merely spending, individuals can secure long-term financial stability and prosperity.

The Compounding Life Newsletter - by Vivek Mashrani

The TechnoFunda Circle

📚 Book I'm Reading This Week Confessions of Stock Market Wizards In Confessions of Stock Market Wizards, Safir Anand gets India's top investors and stock market legends, such as Ramesh Damani, Samir Arora, Madhusudan Kela, Vijay Kedia, Devina Mehra and E.A. Sundaram, among others, to open up about their investing mistakes and, as a result, their biggest moments of learning. Be it an error of omission, an error of commission or a decision that appeared perfectly fine during a bull market but proved costly during market slowdown, each of the confessions in this book has a unique learning and perspective to offer. Candid and illuminating, this one-of-a-kind book provides readers unmatched insights into the skills needed in stock market and investing. List of All Books I have Shared →

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Loss Aversion in Behavioral Finance – Why We Fear Losing More Than We Love Winning

In the world of investing, the fear of losing money often outweighs the excitement of making a profit. This phenomenon is called Loss Aversion, a cornerstone concept in behavioral finance. Let’s explore how loss aversion impacts decision-making and how investors can overcome this bias to make better financial choices.

What is Loss Aversion?

Loss aversion is the idea that people feel the pain of losses more intensely than the pleasure of equivalent gains. For example:

• Losing ₹1,000 feels significantly worse than the joy of gaining ₹1,000.

This psychological bias often leads to irrational decisions, such as holding onto losing investments for too long or avoiding risk altogether, even when the potential rewards outweigh the risks.

How Loss Aversion Manifests in Investing

1. Holding Onto Losing Stocks

Investors may refuse to sell underperforming stocks because selling would “lock in” the loss. Instead, they hold on, hoping for a rebound, even when fundamentals suggest otherwise.

2. Selling Winners Too Soon

To avoid the risk of losing gains, investors often sell profitable positions too early, missing out on the full potential of the rally.

3. Avoiding Risk

Loss-averse investors may shy away from promising opportunities because the fear of potential loss overshadows the possibility of gain, leading to overly conservative portfolios.

A Real-Life Example: The Pain of Holding a Losing Stock

Imagine you purchased shares of a company for ₹1,000 each. Over time, the stock price drops to ₹700. Despite clear signs that the company’s fundamentals are deteriorating, you refuse to sell. Why? Because selling means admitting defeat and accepting the ₹300 loss per share.

Meanwhile, a new investment opportunity arises—one with strong potential for growth—but your capital is tied up in the losing stock. The result? You not only endure the loss but also miss the chance to recover by reallocating to a better investment.

The Science Behind Loss Aversion

Loss aversion is rooted in evolutionary psychology. For our ancestors, avoiding losses—like losing food or shelter—was critical for survival. This survival instinct persists today, even though financial losses don’t pose a threat to life.

In his groundbreaking research, Nobel laureate Daniel Kahneman demonstrated that losses are psychologically twice as impactful as gains. This disproportionate response explains why investors often act irrationally when faced with potential losses.

How to Overcome Loss Aversion in Investing

1. Set Clear Rules

• Use stop-loss orders to limit potential losses and avoid emotional decision-making.

2. Focus on Long-Term Goals

• Instead of fixating on short-term fluctuations, align your decisions with your long-term financial objectives.

3. Reframe Your Perspective

• View losses as part of the learning process. Every investor experiences them—it’s how you respond that matters.

4. Diversify Your Portfolio

• Spread investments across asset classes to reduce the impact of any single loss.

5. Seek Objective Advice

• Consulting with a financial advisor or using systematic investment strategies can help mitigate emotional biases.

Conclusion: Master Your Emotions, Master Your Investments

Loss aversion is a powerful force, but understanding its impact can help you make better financial decisions. By recognizing this bias and implementing strategies to counteract it, you can invest with greater confidence and clarity.

Remember, successful investing isn’t about avoiding losses entirely—it’s about managing them wisely while capitalizing on opportunities for growth. Embrace the process, and don’t let the fear of losing overshadow the potential for winning.

🚀 My Content For This Week 🎬 Metals and Mining | Technofunda Analysis​ ​ 📋 Twitter: Vivek Mashrani, CFA @MashraniVivek After decade of pause, this sector is showing very good traction..... Looking to make smart investment moves? Here is an interesting sector coming into the TechnoFunda framework that is set to drive growth and returns. 🚀 A thread… 11:33 AM • Dec 13, 2025 0 Retweets 4 Likes Read 1 replies ​ 📷 Instagram: The Real Advantage isn't in the News​ 🔗 Linkedin: The MACHINE Framework​

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Keep Compounding...

Vivek Mashrani, CFA Founder, TechnoFunda Investing

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