Indian stock market investors are likely to track several companies on Thursday, September 24, following key business developments, fundraising plans, order wins, project updates, regulatory approvals and debt-reduction initiatives.
Simplex Castings, Max Estates, Sheetal Universal, Motilal Oswal Financial Services and PC Jeweller are among the stocks likely to remain in focus. Exide Industries, Bharat Dynamics, Indo Tech Transformers, Accord Transformer & Switchgear, GHCL, Pyramid Technoplast and BCPL Railway Infrastructure may also attract attention following their latest corporate announcements.
Stocks to watch on September 24
Simplex Castings: The company’s board approved raising funds through a preferential issue of up to 44.91 lakh equity shares at ₹105 apiece, aggregating to around ₹47.15 crore, subject to regulatory and shareholder approvals. The board also approved increasing the authorised share capital to Rs15 crore from ₹10 crore.
Max Estates: The real estate developer will enter into a joint development agreement for a 9.76-acre land parcel in Indirapuram, Ghaziabad. The project has an estimated development potential of 1.5 million sq ft and a potential gross development value of ₹2,500–3,000 crore.
Sheetal Universal: The company received a $1.22 million export order from Dubai-based Beacon Star General Trading LLC for the supply of peanut kernels. The order was received on September 23.
Motilal Oswal Financial Services: Its wholly owned subsidiary, Motilal Oswal Custodial Services, received SEBI approval to operate as a custodian of securities under the SEBI Custodian Regulations.
Pyramid Technoplast: The company received an amended approval from the Gujarat Pollution Control Board to receive, collect, store and recycle industrial packaging waste, with a permitted recycling capacity of up to 960 MT annually.
Accord Transformer & Switchgear: The company secured a ₹20.02 crore order, excluding GST, for the supply of 57 wind turbine transformers for Aditya Birla Renewables’ Bhuj project.
PC Jeweller: The company has repaid outstanding debt to another consortium bank, taking the total to 13 out of 14 banks. More than 99% of its outstanding bank debt has now been cleared, with the company targeting a debt-free status within the current month.
BCPL Railway Infrastructure: The company secured a ₹6.22 crore contract from Eastern Railway’s Howrah Division for replacement of old and rusted cantilever assemblies. The project is scheduled for completion over 18 months.
GHCL: The company was declared the preferred bidder for the Kadaya limestone block in Gujarat following an e-auction conducted by the state government. The block has a reported reserve of 5.67 lakh metric tonnes.
Indo Tech Transformers: The company received an ₹42.88 crore order, plus applicable GST, from Leap Green Energy Group to manufacture and supply four transformers for solar and wind projects, including two 400/33 kV and two 230/33 kV transformers.
Exide Industries: Its material subsidiary, Exide Energy Solutions, commissioned Phase I of its 6 GWh lithium-ion cell manufacturing facility in Devanahalli, Bengaluru. The facility will manufacture lithium-ion cells across multiple chemistries and form factors for mobility and energy-storage applications.
Bharat Dynamics: The company signed an ₹810.79 crore contract with the Ministry of Defence for the supply of Satellite Smart Anti-Airfield Weapons (SAT-SAAW) and associated equipment to the Indian Air Force under the Buy (Indian–Indigenously Designed, Developed and Manufactured) category.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
