Welspun Corp, Concord, HEG among buzzing stocks as SENSEX soars 600 pts; NIFTY trades above 23,400

The Indian benchmark indices, SENSEX and NIFTY50, advanced in afternoon deals on Monday, September 21, driven by buying in realty, fast-moving consumer goods (FMCG) and pharmaceutical stocks. Investor sentiment improved amid a decline in global crude oil prices and FII inflow.

The SENSEX surged as much as 0.8% to hit an intraday high of 74,907.26. Meanwhile, the NIFTY50 soared as much as 0.4% to touch the session’s peak of 23,437.70.

At 1:36 PM, the S&P BSE SENSEX advanced by 608.89 points, or 0.82%, to trade at 74,903.85. Meanwhile, NSE’s NIFTY50 stood at 23,433.90, reflecting an 87.50-point, or 0.37% jump.

On Friday, the foreign institutional investors (FIIs) purchased shares worth ₹599.54 crore, while the domestic institutional investors (DIIs) bought equities worth ₹1,019.69 crore on a net basis, according to exchange data.

The top gainers of the NIFTY50 index included HCL Technologies, HDFC Life Insurance Company, SBI Life Insurance Company, ITC and Sun Pharmaceutical Industries.

On the contrary, Bharti Airtel, Adani Ports and Special Economic Zones, Bajaj Finance, Wipro and Adani Enterprises were among the top losers.

Buzzing stocks on September 23: Check list

Shares of defence companies, including HAL, Solar Industries, BEL, Apollo Microsystems and more, surged on Monday, September 21, amid heightened geopolitical tensions in Europe and growing concerns over Russian hybrid threats.

Speaking at a news conference at the Élysée Palace on Friday, Macron said he had asked his government to draw up a plan to protect critical infrastructure and defence industry sites from drone and cyberattacks. He also said France had been targeted by Russian hybrid attacks in recent weeks and that they would not go without a response.

A growing number of European leaders have raised concerns over possible Russian attempts to test Europe's commitment to supporting Ukraine.

IT stocks came under selling pressure on September 21, as the NIFTY IT index dropped 1.3% to an intraday low of 28,475.35 after the Trump administration extended H-1B visa payment norms.

On Friday, September 21, the White House said that President Donald Trump has extended the requirement for a $100,000 payment for certain H-1B visa petitions by a year.

In a presidential proclamation issued, Trump said the 2025 measure imposing the $100,000 payment had led to a 92% decrease in H-1B registrations by large IT outsourcing firms. Indians remain the largest group of beneficiaries of the US H-1B visa programme.

Concord Biotech shares jumped as much as 6.12% to hit an intraday high of ₹1,586 per unit on the National Stock Exchange (NSE) on Monday, September 21, as the company informed the exchanges that its board of directors is scheduled to meet on September 23 to consider the proposal for a bonus issue.

“We hereby inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, September 23, 2026, inter alia, to consider the proposal for declaration of bonus equity shares to the existing equity shareholders of the Company in accordance with the applicable provisions, subject to approval of the shareholders of the Company,” it said in a regulatory filing dated September 19.

Embassy Developments stock advanced as much as 8% to touch an intraday high of ₹58.4 per equity share after the firm’s board of directors gave a nod for fundraising through NCDs.

The real estate firm, in a regulatory filing dated September 19, said that its board has approved raising up to ₹160 crore through the issuance of up to 16,000 non-convertible debentures (NCDs), with a face value of ₹1 lakh each, on a private placement basis, in one or more tranches.

Shares of Indian power generation and infrastructure firm Jaiprakash Power Ventures soared as much as 13.7% to hit an intraday high of ₹17.49 apiece as the company and the National Asset Reconstruction Company Limited (NARCL) settled the claims between the two.

According to a regulatory filing dated September 21, the company and NARCL agreed to settle the matter/claim, subject to payment of ₹511 crore as “full and final payment and fulfilment of certain other conditions and execution of definitive agreement(s)”.

It added that the Insolvency and Bankruptcy Code (IBC) proceedings shall stand withdrawn once all the conditions of the settlement are fulfilled.

HEG Advanced Materials shares surged 5% to touch the upper circuit level after the opening bell on Monday, September 21, as investors focused on the company’s subsidiary receiving a lithium-ion battery bank supply order from Indus Towers.

As per the exchange filing, HEG Advanced Materials’ subsidiary firm named Replus Engitech Pvt. Ltd received a ₹217.56 crore lithium-ion battery bank supply order from Indus Towers.

“We wish to inform you that Replus Engitech Private Limited, a subsidiary of the company, has received orders from Indus Towers Limited (formerly Bharti Infratel Limited) for the supply of Lithium-Ion Battery Banks,” the company informed the stock exchanges.

The stock of Welspun Corp climbed as much as 5.16% to hit a fresh record high of ₹2,797.60 on the NSE after the company on Sunday announced that its associate company, East Pipes Integrated Company for Industry (EPIC), a listed entity in Saudi Arabia, had signed a contract with Saudi Arabian Oil Co. (Aramco) for the manufacturing and supply of steel pipes.

The contract is valued at more than SAR 771 million (approximately ₹2,000 crore), including value-added tax.

Welspun Corp added that the duration of the contract is six months and the financial impact of the contract will be reflected from Q4 FY2026-27 through Q1 FY27-28.

Samvardhana Motherson International shares declined despite its board considering and approving the purchase of a 50.1% equity stake in Rotary Connectors Private Limited (RCPL) by its wholly owned subsidiary Samvardhana Motherson Adsys Tech Limited (SMAST).

Its wholly owned subsidiary will acquire the stake from the existing shareholders of RCPL, subject to satisfactory completion of conditions precedent.

Post completion of the aforementioned transaction, SMAST will hold 50.1% of the equity share capital of RCPL and thereupon, RCPL will become an indirect subsidiary of SAMIL. The promoters of RCPL will continue to hold a 49.9% equity stake in RCPL, it added.

Dilip Buildcon stock rose as much as 1.4% to hit an intraday high of ₹431.25 per equity share after it was declared to be the lowest (L1) bidder by REC Power Development and Consultancy Limited (RECPDCL) for an order worth ₹1,625 crore.

It secured an order for the “Development and Operation of Intra State Transmission System for Transmission of Electricity Through Tariff Based Competitive Bidding for Establishment of 400 KV GIS Solapur/ Paranda Switching Station (Dist. Dharashiv), Maharashtra”.

Worth ₹1,625 crore (including GST), the construction and commissioning will be completed within 24 months from the effective date, and following which, it will be valid for a period of 35 years from the commercial operation date (COD).

Himadri Speciality Chemicals shares gain nearly 3% to touch an intraday high of ₹692.8 apiece on Monday, September 21, after the firm’s board approved the demerger of the tyre business from Dalmia Bharat Refractories and its transfer to HSCL.

The clean-tech player, in a regulatory filing, said that its board of directors had cleared the proposal after considering recommendations and reports from the company's Audit Committee and Committee of Independent Directors.

The scheme of arrangement will be undertaken “as a going concern, on an as-is, where-is basis”, the filing said.