GRSE shares will be in focus after the company's board approved a ₹2,896 crore capital budgetary outlay to build a greenfield shipyard at Raichak, West Bengal. According to reports from The Economic Times, the new facility aims to enhance the company's shipbuilding capacity across both the naval and commercial segments. The one-time order will be executed across FY27 and FY28, with the company not disclosing the order value or customer identity, stating it's not a related-party transaction.
ADIA sold 3.5 crore shares representing a 2.01% stake in Gurugram-based Lenskart Solutions through its affiliate Platinum Jasmine A 2018 Trust. As reported by The Economic Times, the shares were offloaded at an average price of ₹683.02 apiece, taking the aggregate value to ₹2,390.57 crore. The transaction brought ADIA's holding down to 7.76% from 9.77%, with ADIA remaining the second-largest public shareholder after SoftBank. Lenskart's shares fell 3.10% to close at ₹685.30 on Monday.
ONGC discovered gas at the MN-DW18-1-H-D well in the Mahanadi Offshore Basin, located about 43 km off Konark as part of its Samudra Manthan deepwater exploration campaign. According to the company statement, the well encountered gas at a depth of 1,441-1,452 metres after being drilled to a target depth of 1,623 metres. The well has been flowing gas for the past three days with "encouraging flow and reservoir pressure," though the discovery is subject to further appraisal and commercial evaluation. The proximity to Odisha could support faster development if appraisal confirms commercial viability.
Indian Oil Corporation approved a ₹2,448.70 crore investment for a 424.65-km natural gas pipeline connecting Kochi in Kerala with Thoothukudi in Tamil Nadu. As reported by The Economic Times, this significant infrastructure project will strengthen India's natural gas transmission network across two major southern states. The pipeline investment represents a substantial commitment to expanding India's energy infrastructure and supporting industrial growth in the region.
The domestic stock market is expected to open in the green on Tuesday, September 22, with GIFT NIFTY futures suggesting the NIFTY50 index will open 53 points higher. According to The Economic Times, the market sentiment remains positive following the various corporate developments across sectors including energy, infrastructure, and consumer goods. The focus remains on company-specific developments with several stocks in the spotlight following key business updates across multiple sectors.
