Indian stock market investors are likely to track several companies on Wednesday, September 30, following key business developments, order wins, fundraising plans, strategic initiatives, and project updates.
KSB, Prime Cable Industries, Capital India Finance, Power Mech Projects, and Krystal Integrated Services are among the stocks likely to remain in focus. Punjab & Sind Bank, Exide Industries, Arisinfra Solutions, and Tata Steel may also attract attention following their latest corporate announcements.
Stocks to watch on September 30
Tata Steel: The company said that its board had approved an additional fund infusion of up to $2 billion (around ₹18,488.10 crore) into its wholly owned foreign subsidiary, T Steel Holdings Pte. Ltd. The move will raise the aggregate investment limit to $26.21 billion, with the infusion to be made through subscription to equity shares in one or more tranches.
Exide Industries: The company informed the investors that it had invested ₹100 crore in its wholly owned subsidiary, Exide Energy Solutions, through a rights issue. Following the investment, the total investment in EESL stands at ₹5,202.23 crore, with no change in Exide Industries’ shareholding percentage.
Arisinfra Solutions: The company’s subsidiary, ArisUnitern RE Solutions, has been appointed by Transcon Group as the Developer-as-a-Service (DaaS) partner for Transcon UNO at Kalina, Mumbai, under its IGNITE module. The contract is valued at ₹400 crore.
KSB: The company has received a $12.40 million export order from Dangote Projects Free Zone Enterprise for the supply of 18 boiler feed pump packages. The order is expected to strengthen KSB’s presence in the international fertilizer and energy sectors.
Prime Cable Industries: The company said it had received a ₹16.49 crore purchase order, inclusive of GST, from a reputed Indian listed company for the supply of 11 kV medium-voltage (MV) cables. The company’s market capitalization stands at around ₹343 crore.
Capital India Finance: The NBFC has raised ₹100 crore through the private placement of listed, rated, senior, secured, transferable, and redeemable NCDs. The NCDs have a tenure of 27 months and carry a fixed coupon of 10% per annum, payable quarterly. The company said the fundraise will strengthen its funding base and support the planned growth of its lending business.
Power Mech Projects: The company has secured a ₹549.37 crore operation and maintenance (O&M) contract from Adani Group’s Moxie Power for the 2×600 MW Tuticorin plant.
Krystal Integrated Services: The company has secured an ₹8.75 crore annual manpower contract from Kosol Energie for its Bavla facility in Gujarat. Under the contract, Krystal will deploy 250 technically qualified professionals to support production management and statutory compliance requirements.
Punjab & Sind Bank: The bank’s board has approved a $1 billion program to raise funds in foreign currency, putting the proposed fundraising plan in focus.
Transport Corporation of India: The company has approved its first-ever buyback of up to 15.62 lakh equity shares at ₹960 per share, involving an amount of up to ₹150 crore. The buyback price represents a 10.6% premium to Tuesday’s closing price.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
