Meesho, GRSE, Waaree Energies among buzzing stocks as SENSEX falls nearly 300 pts; NIFTY trades below 23,350

The Indian benchmark indices, SENSEX and NIFTY50, were trading in negative territory during afternoon deals on Tuesday, September 22, amid a sell-off in information technology (IT) and PSU banking stocks. Investor sentiment was also impacted by a surge in crude oil prices and FII outflow.

During the trading session, the SENSEX fell as much as 0.46% to touch an intraday low of 74,516.79. Meanwhile, the NIFTY50 declined as much as 0.41% to reach the session’s low of 23,319.10.

At 1:20 PM, the SENSEX was trading at 74,560.47, down by 298.52 points, or 0.40%. The NSE’s NIFTY50 stood at 23,333.60, reflecting an 80.70-point, or 0.34% drop.

On Monday, the foreign institutional investors (FIIs) sold shares worth ₹576.20 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹2,797.27 crore on a net basis, according to exchange data.

The top losers in the NIFTY50 index included Trent, Bajaj Finance, HCL Technologies, Bajaj Auto, and State Bank of India.

On the contrary, Coal India, Dr. Reddy's Laboratories, Titan Company, Eternal and InterGlobe Aviation (Indigo) were among the top losers.

Buzzing stocks on September 22: Check list

Shares of Meesho soared as much as 11.6% to hit an intraday high of ₹244.50 per unit on the National Stock Exchange (NSE) on Tuesday, September 22, after UBS raised the e-commerce platform’s net merchandise value (NMV) and earnings before interest, tax, depreciation and amortisation (EBITDA) estimates for the period spanning the 2029 to 2031 financial years.

In a note, analysts at Switzerland-based global investment major UBS Group raised the company’s NMV estimates by 7-18%, while noting a similar increase in contribution profit estimates and a 20-40% increase in EBITDA for FY29-31.

The analysts said that the higher NMV forecasts reflect continued flywheel from sellers and buyers, coupled with rapid expansion in its stock-keeping units (SKUs) and logistics partners.

Transrail Lighting shares gained as much as 16.8% to touch the session’s peak of ₹483.70 per equity share on Tuesday, as the firm expanded its conductor manufacturing capacity.

The EPC player in the Transmission & Distribution (T&D) sector, in a regulatory filing, said that it has completed phase 1 of the brownfield expansion for conductor manufacturing at the Silvassa location.

With this expansion, the company’s conductor manufacturing capacity has increased from 24,000 km/annum to 40,800 km/annum. Transrail also said it is in the process of further enhancing its conductor capacity under phase 2 expansion, after which it will double its original capacity.

Pace Digitek shares surged 13.2% to hit an intraday high of ₹175.37 apiece on Tuesday's market, as investors focused on the company's latest BESS order win worth over ₹488 crore from NTPC GE Power Services Private Limited.

The company bagged the Battery Energy Storage System (BESS) order from NTPC GE Power Services Private Limited (NGSL), according to a regulatory filing dated September 21.

It secured the order for “supply, delivery, testing, and supervision of erection, testing, and commissioning” of 5.015 megawatt-hour (MWh) BESS containers along with a battery management system (BMS) and energy management system (EMS), strictly as per the request for quotation (RFQ) documents issued, including a comprehensive maintenance contract (CMC), it stated.

The stock of Garden Reach Shipbuilders & Engineers (GRSE) advanced as much as 3.66% to reach an intraday high of ₹2,459.20 per equity share on September 22, as the company’s board of directors approved capacity expansion outlay plans for greenfield projects in West Bengal.

In an exchange filing on Monday evening, GRSE informed the stock exchanges that the board has approved the new capacity expansion plans in Raichak, West Bengal, along with a budgetary outlay of ₹2,896 crore for a greenfield shipyard in the area.

“We wish to inform that the board of directors of the company, in its 423rd meeting held today, i.e., Sep 21, 2026, has, inter alia, approved a capital budgetary outlay of ₹2,896 crore for construction of a Greenfield Shipyard at Raichak,” the company informed the stock exchanges.

As per the disclosure, the new shipyard will expand the shipbuilding capacity of GRSE for both naval (military) and commercial segments.

Shares of Waaree Energies jumped as much as 1.9% to hit an intraday high of ₹2,547 per unit, as it received an order from a leading domestic solar developer for the supply of 2 GW of solar modules. The one-time order will be executed across FY27 and FY28.

The company did not disclose the order value or the identity of the customer, but said the order is not a related-party transaction and the promoter group has no interest in the awarding entity.

Oil & Natural Gas Corporation (ONGC) stock was trading in the green after the state-run explorer announced a gas discovery in a deepwater well off India’s eastern coast. Its proximity to Odisha could aid faster development, subject to further appraisal and confirmation of commercial viability.

Appraisal here means further drilling and testing to determine whether the gas discovery is large enough and technically/economically viable to develop commercially.

ONGC discovered gas on September 18 at the MN-DW18-1-H-D well in the Mahanadi Offshore Basin, about 43 km off Konark, as part of its Samudra Manthan deepwater exploration campaign, the company said in a statement.

Lloyds Metals and Energy stock rose as much as 3.25% to an intraday high of ₹1,884 apiece on Tuesday, September 22, a day after the company’s board of directors gave a nod to issuing NCDs and approved capacity expansion of DRI plants.

The company said that its board of directors has approved the issuance of two separate non-convertible debentures (NCDs), aggregating up to ₹600 crore and ₹950 crore on a private placement basis.

Lloyds Metals further added that the said issuance is within the overall limits previously approved by the board at its meeting held on May 5, 2026, and the existing in-principle approval dated October 13, 2025.

Shares of Sterling and Wilson Renewable Energy Ltd (SWREL) gained as much as 7.7% to hit an intraday high of ₹186.66 per unit, as the company secured one order in Rajasthan totaling 534.3 MWp from a leading IPP in India.

It also bagged an order for two BESS projects totaling 616 MWh of energy storage capacity in South Africa from a leading Middle East-based renewable energy projects developer, according to a regulatory filing.

The total value of both orders, including taxes, amounts to more than ₹985 crore.

Puravankara stock rose as much as 4% to touch an intraday high of ₹223.7 apiece on Tuesday, September 22, after the real estate firm said it has bought a 13.44-acre land parcel in Greater Noida to develop a housing project with an estimated revenue of ₹5,200 crore.

In a regulatory filing, the company said it has entered the Delhi-NCR real estate market with the allotment of a 13.44-acre land parcel in Greater Noida. The firm, however, did not disclose the land cost. The land parcel has a saleable potential of ~4.57 million sq. ft.

“Our entry into Delhi-NCR marks an important new chapter in Puravankara’s growth journey. NCR is one of India’s largest and most dynamic real estate markets, and we have been deliberate in identifying the right opportunity to establish our presence here,” said Ashish Puravankara, Managing Director of Purvankara.