Stocks to watch, Sept 23: Adani Group stocks, oil-sensitives, Aditya Infotech, Vedanta, NMDC, GMDC

The domestic equity market is expected to open lower on Wednesday, September 23. The GIFT NIFTY futures suggest that the NIFTY50 index will open 50 points lower.

The companies collectively paid ₹1.5 crore to settle the proceedings, which stemmed from SEBI’s examination of corporate governance and disclosure issues flagged in the January 2023 Hindenburg Research report.

The settlement closes the proceedings, with Adani Enterprises paying ₹76.05 lakh, Adani Green Energy ₹45.50 lakh, and the other three companies ₹9.75 lakh each.

The company has fixed the floor price at ₹3,648.43 per share, with the issue price to be determined in consultation with the lead managers. The company has received shareholder approval to raise up to ₹1,500 crore. The funds are expected to support debt repayment, capital expenditure, inorganic growth and general corporate purposes.

In a regulatory filing, the mid-tier IT software services firm said it secured 75,68,145 shares, representing approximately 61.15% of Nagarro SE’s outstanding share capital. The acceptance period for the offer ended on September 17, 2026.

Brent crude fell below $100 a barrel after Saudi Arabia restarted its East-West pipeline at a reduced rate, while hopes of diplomatic progress between the US and Iran also weighed on prices.

Lower crude prices could pressure upstream producers such as ONGC and Oil India, while offering potential cost relief to downstream companies, airlines, paintmakers and tyre manufacturers.

The two assets have an aggregate equity value of ₹2,744 crore, while their aggregate enterprise value stands at ₹4,605 crore, including existing external debt of ₹1,861 crore.

The consideration will be received in cash, with the transaction expected to be completed by September 30, 2026, subject to relevant approvals. The two SPVs contributed around ₹306.6 crore, or 3.5%, to the Trust's consolidated turnover in FY26.

The initiative is intended to support the creation of an integrated critical mineral value chain in the country and lower India's dependence on imported processed materials.

Neogen Chemicals is also expected to be in focus as the company has a strong presence in lithium-based chemistry and is developing a battery-materials business through its subsidiary Neogen Ionics.

RHI Magnesita India is one of the leading suppliers of high-grade refractory products.

According to the block deal data available on the National Stock Exchange (NSE), Dalmia Bharat Refractories Ltd sold 2,29,41,224 shares, amounting to nearly an 11.11% stake in RHI Magnesita India.

The shares were disposed of at an average price of ₹360 apiece, taking the transaction value to ₹825.88 crore.

Following the latest transaction, Dalmia Bharat Refractories' holding in RHI Magnesita India dropped to 1.43% from 12.54%.

The proposed subsidiary will support the company's data centre expansion plans and address growing connectivity requirements of hyperscalers, data centre operators and enterprises.

“We have built a strong foundation in digital infrastructure. This is the next step in extending that capability into connectivity, where we see a meaningful opportunity to support data centre operators, hyperscalers and enterprises as their requirements grow," Invenia-STL Networks whole-time director and Interim Chief Executive Officer Chandrasekhara Rao Battula said in a statement.

The Gujarat-based firm said the shareholders will receive one bonus share for every existing share of ₹10 each held by them as on the record date.

The company's board has also approved raising authorised share capital to ₹100 crore from ₹45 crore and expanding into grey and value-added fabric products, it added.

The company has provided health insurance coverage to over 51.50 lakh people in the state during this period, the official said.

American multinational Mastercard, through its affiliate Mastercard Asia/Pacific Pte Ltd, sold 4,97,24,182 shares in 13 tranches, representing a 4.31% stake in Noida-based Pine Labs, according to exchange data.

The shares were offloaded at an average price of ₹187.75 apiece, for an aggregate value of ₹933.57 crore.

Meanwhile, a clutch of mutual Funds managed by Kotak Mahindra, Edelweiss and Franklin Templeton, along with ICICI Prudential Life Insurance Company, bought an equal number of shares at the same price.

Mahindra on Tuesday launched the Thar OG, starting at ₹10.32 Lakh (ex-showroom), which succeeds the three-door Thar unveiled in 2020.

The consumer electronics major has ramped up its exports by adding new markets for its premium product portfolio, as it eyes a double-digit contribution to overall revenue from overseas markets in the coming years.

Moreover, LG is also amplifying its play in the fast-growing appliance and consumer electronics segments in the domestic market, said Sanjay Chitkara, Co-Chief Sales & Marketing Officer, LGEI.

Under the agreement, HCLTech will deploy its AI Force service transformation platform to provide AI-led managed services across infrastructure and end-user operations. The partnership is aimed at streamlining M Group's IT landscape, enhancing operational resilience, and establishing a scalable digital foundation.

The technology deployment will support digital transformation across M Group's business verticals, which encompass water, energy, technology, communications, transport, and defence.