Websol Energy to Adani Ports: Key stocks to track as West Bengal steps up industrial push

Shares of companies operating in the defence, renewable energy, shipbuilding, infrastructure and manufacturing sectors are likely to be in focus on Monday, September 28, as West Bengal looks to recalibrate its industrial policy to attract investments and facilitate the development of product-specific industrial parks.

Under the proposed model, industry associations and chambers of commerce will be allowed to develop and manage industrial parks on land provided by the state government, with the government acting as a facilitator. The state is also preparing a new industrial land policy, which will provide for land pooling, direct purchase of land and a single-window system to simplify the process of setting up projects.

The developments come as the West Bengal government recently handed over around 580 acres of land for 33 industrial projects involving an estimated investment of ₹60,000 crore and the potential to create nearly 62,000 jobs. Chief Minister Suvendu Adhikari has also said the government is in talks with large companies, including Reliance Industries, for investments across multiple sectors in the state.

It must be noted that the state government will unveil its new industrial land policy ahead of the Durga Puja next month, with provisions for land pooling, direct purchase and a single-window system to facilitate investments.

₹5,000 crore incentives, GCC Policy and AI roadmap for Bengal

In June 2026, the Government of West Bengal unveiled a broad industrialisation strategy aimed at attracting investment and high-value jobs. The government had said it would introduce a Global Capability Centre (GCC) policy to attract multinational firms, launch a ₹5,000 crore investment promotion framework, and offer incentives for AI-focused data centres and hyperscale cloud infrastructure.

"The budget also promises major ease-of-doing-business reforms, including faster approvals for large projects, creation of a dynamic industrial land bank, a startup policy within three months, and ₹100 crore in incubation and venture funding. Together, the measures signal a shift toward technology, innovation and investment-led growth, with execution now becoming the key test," according to a post by The West Bengal Index on X.

Stocks in focus

According to news reports and analysts, SAIL, BCCL, Shriram Properties, NBCC, RVNL, Laser Power, Websol Energy System and Vikram Solar could be in focus following West Bengal’s renewed push to attract industrial investments and develop sector-specific industrial parks.

SAIL and BCCL are also relevant to the state’s steel and coking-coal ecosystem, while Shriram Properties, NBCC and RVNL could see a broader read-through from increased industrial and infrastructure development.

Laser Power, Websol Energy System and Vikram Solar are relevant to the engineering and renewable-energy themes, with Websol having separately secured land in West Bengal for a proposed 4 GW solar cell and 4 GW module manufacturing facility.

Jupiter Wagons

Shares of Jupiter Wagons could be in focus after its subsidiary, Jupiter Defence Private Limited, was allotted approximately 256 acres of land in Purulia, West Bengal, to establish an integrated defence manufacturing facility.

The land was allotted at the Jangal Sundari Karmanagari Phase II Industrial Park in Raghunathpur.

The proposed project is expected to support the group's diversification into defence manufacturing and could create opportunities for ancillary industries and local employment. The company has not disclosed a specific investment amount or project completion timeline in the land-allotment announcement.

Websol Energy System

The West Bengal government has allotted around 54.20 acres of land to Websol Energy System Ltd at the Falta Industrial Park here for setting up a greenfield solar cell and module manufacturing facility, the company said on Thursday.

The proposed facility, entailing an investment of ₹1,500-₹1,700 crore, will have 4 GW of solar cell capacity and 4 GW of solar module manufacturing capacity, to be developed in two phases of 2 GW each, Websol said in a statement.

The land allotment came after the company evaluated locations close to its existing manufacturing operations at the Falta Special Economic Zone in the state, it said.

The company said its decision to expand in West Bengal builds on more than three decades of operating experience in the state, which provides access to skilled manpower, established supplier relationships and familiarity with the local ecosystem.

Adani Ports

The company could attract attention after the group outlined plans to invest more than ₹1 lakh crore in West Bengal by 2035. The roadmap covers sectors including ports, logistics, power, roads, bridges, green cement and data centres.

The announced investment is a long-term group-level roadmap, and the company-specific allocation, execution schedules and project approvals will need to be tracked before assessing the financial impact on individual listed entities.

Adani Power and Adani Energy Solutions

These stocks may also be tracked as part of the Adani Group's broader West Bengal investment roadmap, which includes power generation, transmission and distribution.

"The state government's industrial development plans could create additional demand for supporting infrastructure as new manufacturing projects are established. However, the group-level roadmap does not by itself confirm new orders or a specific revenue contribution for either company," news reports said.

Ambuja Cements and ACC

These stocks could be monitored for any developments related to the Adani Group's proposed investments in green cement and infrastructure in West Bengal. The group has outlined a roadmap covering roads, bridges and green cement, but the publicly reported plans do not establish a specific project value or financial impact for either cement company.

IT and data centre stocks

Tech Mahindra, HCLTech and Tata Communications could be tracked as potential beneficiaries of West Bengal’s push to attract global capability centres (GCCs), AI-oriented data centres and hyperscale cloud infrastructure.

The state’s FY27 Budget proposed a dedicated GCC policy and incentives for eligible data-centre projects, including stamp-duty reimbursement, electricity-duty waivers, dedicated power supply and faster clearances.

Tech Mahindra and HCLTech have capabilities in setting up and managing GCCs, while Tata Communications provides connectivity, cloud and data-centre interconnection solutions.

However, these remain broader sectoral read-throughs, with no company-specific project announced under the new West Bengal initiatives so far.