Stocks to Watch on December 18: AMC and Capital Market Stocks, HCLTech, TCS, Texmaco Rail, Titagarh Rail, Cyient, Trishakti Industries, Paytm
Upstox News Desk | Updated on December 18, 2025, 08:43 IST
As the domestic equity market is poised to open flat on Thursday, December 18, investors have several key stocks and sectors to watch closely amid fresh developments and regulatory changes. The spotlight is on AMC (Asset Management Company) and capital market stocks following SEBI’s announcement of new measures affecting the mutual fund industry. Additionally, major corporate actions and contract wins are drawing market attention. Here’s a detailed look at the stocks to watch today.
SEBI’s New Measures on Mutual Funds Boost AMC and Capital Market Stocks
The Securities and Exchange Board of India (SEBI) unveiled a suite of regulatory changes aimed at reshaping the mutual fund industry’s expense structure. The regulator has introduced the concept of a Base Expense Ratio (BER), which excludes statutory levies such as security transaction tax and GST, differing from the existing Total Expense Ratio (TER) model.
While the TER will continue to represent the sum of BER, broking costs, regulatory levies, and statutory levies, SEBI Chairman Tuhin Kanta Pandey emphasized that the BER provides a more accurate reflection of the expenses charged by the industry, considering fluctuating taxes and levies. The regulator opted for a balanced approach rather than the more radical proposals released earlier, which had unsettled investors and impacted AMC stocks.
Additional key changes include:
- Rationalization of broking limits: reducing the cap from 0.12% to 0.06% for equity transactions.
- Reduction of derivative transaction charges from 0.05% to 0.02%.
- Abolishment of an additional 0.05% exit load introduced in 2018. These rules will come into effect from April 1, 2026, potentially influencing the profitability of AMC companies while aiming to benefit retail investors.
Corporate and Sectoral Updates
Cyient Limited:
Cyient Semiconductors, a wholly-owned subsidiary of Cyient, has signed a definitive agreement to acquire a majority stake in Kinetic Technologies. The global leader in power management and high-performance analogue mixed-signal ICs will join Cyient’s semiconductor platform for a total consideration of up to $93 million. This acquisition positions Cyient strongly in the expanding $40 billion power semiconductor market, targeting sectors such as data centers, electrification, automotive, networking, industrial automation, and edge AI computing.
Paytm:
Paytm Payments Services Limited (PPSL), a wholly owned arm of One 97 Communications, has received authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions, both inward and outward. This regulatory nod is expected to enhance Paytm’s payment services capabilities and facilitate cross-border commerce.
Titagarh Rail:
The company announced its first order under the Safety and Signalling Systems segment from Indian Railways. The â‚ą273.24 crore contract covers the design, manufacture, supply, testing, commissioning of Rail Borne Maintenance Vehicles (RBMV), and includes training and maintenance services for railway personnel.
Texmaco Rail & Engineering:
Texmaco Rail has secured a â‚ą6.70 crore award from Western Railway for a rail electrification contract involving the installation of a long feeder in the Bhavnagar division, a significant step towards modernizing railway infrastructure.
HCL Technologies:
HCLTech has signed a significant contract with ASN Bank, the Netherlands’ fourth largest retail bank, to accelerate its digital transformation journey and improve customer experiences.
Tata Consultancy Services (TCS):
TCS revealed ambitious plans to become the “world’s largest AI-led technology services company.” CEO K Krithivasan highlighted that the company’s AI-related services have reached $1.5 billion in annualized revenue, with 85% of its clients leveraging TCS for AI solutions. The company reported executing over 5,500 AI projects and completing 209 platform deployments, underscoring its leadership position in AI technology services.
UGRO Capital:
The firm’s Investment and Borrowing Committee approved a private placement issue of rated, senior, secured, and unsecured non-convertible debentures worth up to ₹500 crore, signaling plans for capital raising to support its business expansion.
Ola Electric Mobility:
Founder Bhavish Aggarwal sold 4.19 crore shares, nearly 1% of the company’s paid-up equity, for ₹142.3 crore, continuing a recent trend of promoter stake reduction amounting to over 1.5% in the past two sessions.
Jio Financial Services:
The board has approved Shri Venkata Peri’s appointment as Group Chief Operating Officer, effective December 22, 2025, to enhance senior leadership.
KP Energy:
KP Energy signed a Memorandum of Understanding (MoU) with the Government of Botswana to collaborate on developing large-scale renewable energy, energy storage, and transmission infrastructure as part of Botswana’s net-zero 2030 goals.
Akzo Nobel India:
Former promoter Imperial Chemical Industries sold a 9% stake in AkzoNobel India for â‚ą1,296 crore via an open market transaction, with shares averaging â‚ą3,163.50 each.
NTPC:
NTPC added 359.58 MW of commercial capacity via solar projects in Gujarat and Rajasthan, pushing the group’s overall commercial capacity past 85.5 GW. This includes capacity from the Khavda-I Solar PV project and Nokh Sokar PV project.
One MobiKwik Systems:
The fintech firm appointed Navdeep Singh Suri as Chairperson of its Board, bringing extensive diplomatic and governmental experience as a former Indian Ambassador and High Commissioner.
Trishakti Industries:
The company announced MoUs with global construction equipment leaders XCMG Group and LiuGong India to modernize and expand its fleet, marking a significant step in its growth trajectory.
Market Outlook
With the market expected to open flat, investors should keep an eye on the performance of AMC and capital market stocks, IT majors like HCLTech and TCS, as well as key infrastructure and rail companies such as Texmaco Rail and Titagarh Rail. The evolving regulatory environment and corporate developments underscore potential trading opportunities in these sectors.
For retail investors and traders, the upcoming changes in mutual fund expense structures signal a significant shift in industry dynamics starting April 2026, necessitating careful portfolio adjustments.
Stay tuned for live updates and expert market insights throughout the trading day.
Disclosure: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence before making investment decisions.