Indian equity markets are set to open on a cautious note today, Wednesday, September 30, amid mixed global cues. The GIFT Nifty futures on the NSE International Exchange were trading down by 60.70 points, or 0.27 percent, at 22,805, signaling a weak start for domestic indices. This comes as concerns persist over peace in West Asia, though crude oil prices have shown some easing.
Market Debuts Today
Four companies are scheduled to make their stock market debut today, Wednesday, September 30. These include:
- Elevate Campuses
- ArMee Infotech
- Swastika Infra
- Adroit Industries (India)
These companies collectively raised approximately Rs 2,712 crore from investors between September 23 and 25.
Key Stocks in Focus
Avalon Technologies
Media reports suggest that promoter groups Bhaskar Srinivasan, BBS Family Trust, and KBS Family Trust are considering selling up to a 6 percent equity stake in Avalon Technologies. This potential block deal is estimated to be worth Rs 861.9 crore, with an indicative price range of Rs 2,150-2,302 per share.
Gland Pharma
An individual investor is reportedly looking to divest 15 lakh equity shares of Gland Pharma through block deals. The offer size for this transaction is pegged at Rs 450 crore, with a proposed floor price of Rs 2,990 per share, according to media sources.
Tata Steel
The domestic steel major has received a favorable ruling from the Income Tax Appellate Tribunal (ITAT) for the financial year 2009. The order allows Tata Steel's claim for deduction of interest expenditure, reducing its tax exposure on the matter by approximately Rs 427 crore, bringing the total to Rs 1,259 crore.
Power Mech Projects
EPC and infrastructure firm Power Mech Projects has secured a new order valued at Rs 549.37 crore. This contract involves providing comprehensive operation and maintenance services for Adani Group's 2x600 MW Moxie Power Generation Tuticorin Thermal Power Plant.
NTPC Green Energy
NTPC Green Energy announced that the second and third part capacities of its Kalasar Solar Energy Project in Bikaner, Rajasthan, totaling 73.06 MW and 80.88 MW respectively, have been declared commercially operational from October 1. These capacities are part of the 650 MW solar component under the 500 MW REMCL RTC Project of NTPC Renewable.
Juniper Green Energy
Juniper Green Cosmic, a subsidiary of Juniper Green Energy, has commissioned 100.64 MWh of Battery Energy Storage System (BESS) capacity under Bikaner Phase II. This commissioning on September 29, 2026, doubles Juniper Green Cosmic's aggregate commissioned BESS capacity to 201.28 MWh.
NLC India
The coal sector player, NLC India, has approved the formation of a 50:50 joint venture with National Aluminium Company (NALCO). The JV aims to develop a 1,080 MW thermal captive power plant.
Inox Green Energy
Inox Green Energy, a wind energy solutions provider, successfully raised Rs 300.15 crore through a qualified institutional placement (QIP). The company approved the allocation of 1,81,19,473 equity shares at a price of Rs 165.65 apiece.
KSB
Pump manufacturer KSB has secured a significant export order worth up to Rs 118 crore from Dangote Projects Free Zone Enterprise. The order is for the supply of a boiler feed pump package, enhancing KSB's presence in the international fertilizer and energy sectors.
ArisInfra Solutions
Arisunitern RE Solutions, a subsidiary of logistics firm ArisInfra Solutions, has secured an order from Transcon Bellaviu, an SPV of Transcon Group. The contract is to provide Data-as-a-Service (DaaS) for Transcon UNO, a residential project in Kalina, Mumbai, with an estimated gross development value of Rs 400 crore.
Ganesh Benzoplast
Specialty chemicals producer Ganesh Benzoplast has finalized agreements to sell its liquid storage tank and railway network businesses to Cisternina Logistics. Cisternina Logistics, which will be majority-owned by KKR, acquired the businesses for Rs 1,154 crore.