Stocks to Watch, December 4: Petronet LNG, ONGC, Railtel, RVNL, IndiGo, Biocon, JK Cement, JSW Steel, IEX, and Pine Labs

PLL is developing ethane unloading, storage and handling (USH) facilities with an ethane storage tank capacity of approximately 170,000 cubic metres at Dahej, Gujarat. PLL is also constructing a unique third jetty at Dahej, which will be capable of handling ethane and propane in addition to LNG.

Pursuant to the aforesaid acquisition, the company’s overall shareholding in the SPV will increase from 16.76% to 28.97%. Consequently, an amendment to the existing share subscription and shareholders' agreement (SSHA) will be executed among the parties.

The cost of the project is ₹145.34 crore.

The company attributed the rise in profitability to lower depreciation and ESOP expenses.

The newly listed firm’s revenue from operations jumped 18% on a year-on-year (YoY) basis to ₹650 crore in the July to September quarter as against ₹552 crore seen in Q2 FY25.

In this regard, GLPL filed a petition dated December 2, 2024, against the company before the National Company Law Tribunal, Mumbai (“NCLT”), for payment of outstanding dues in contravention of the service contracts.

In this regard, we wish to inform you that NCLT has, by way of its order dated December 2, 2025, dismissed the application filed by GLPL (“NCLT Order”).

Aviation watchdog DGCA said it is investigating IndiGo flight disruptions and has asked the airline to submit the reasons for the current situation as well as the plans to reduce flight cancellations and delays.

As part of the calibrated adjustments announced by IndiGo, there will be cancellations and rescheduling of flights, sources said on Wednesday, a day when airports witnessed chaos as hundreds of passengers faced hardships due to services getting cancelled and delayed for long.

In a regulatory filing dated December 3, IEX posted a 17.7% surge in its trade volume at 11,409 million units in November compared to the corresponding month of the previous year.

A total of 4.74 lakh Renewable Energy Certificates were traded during the month, it stated.

It said that enhanced hydro, wind, and solar generation resulted in higher supply liquidity on the exchange platform, leading to a decline in DAM (day-ahead market) and RTM (real-time market) prices.

BPSL will be an equal joint venture between JFE and JSW Steel from here on, and the transaction values the enterprise at ₹53,000 crore, an official said.

Company executives said the deal will help JSW Steel reduce debt by over ₹37,000 crore by June next year and also help both JSW Steel and BPSL to grow the business going forward. JSW Steel's debt stood at ₹79,000 crore as of end-September.

BPSL was acquired by JSW Steel through the bankruptcy process in 2021 at over ₹19,700 crore. The entity's steel business is set to become an equal joint venture between JSW Steel and JFE.

A PTI report said that India's prospects for stronger exports to Moscow lie in sectors like engineering goods, pharmaceuticals, chemicals and agriculture, where there is a great unmet demand in Russia, a government official said.

Besides these high-value sectors, labour-intensive industries such as textiles, apparel, leather goods, handicrafts, processed foods and light engineering also hold substantial promise given Russia's large consumer base and India's cost competitiveness.

Increasing exports from these sectors would help bridge the widening trade deficit with Russia, which stood at about $59 billion in the last fiscal year.

The company lit up the said pellet plant on Wednesday after receiving the consent, and the commercial production is expected within a week's time. After commencing the commercial operations, the sale will be intimated to the exchanges.

With the operation of this additional iron ore pellet plant, the pellet manufacturing capacity of the company has increased from 2.7 MTPA to 4.7 MTPA.