Archive · 28 Sep 2026
Indian Stocks in Focus as SAIL, Power Grid Announce Moves
Indian stock markets were expected to start quietly or slightly lower on Monday, 28 September.
GIFT Nifty pointed to a subdued opening.
Investors were watching companies because of new business announcements and fundraising plans.
SAIL and Bharat Coking Coal agreed to work together on two coal blocks in West Bengal.
Power Grid received approval to raise up to ₹10,000 crore from State Bank of India.
Rashtriya Chemicals and Fertilizers gave Larsen & Toubro a large contract to improve an ammonia plant.
Cupid approved converting warrants into shares of Baazar Style Retail.
Investors were also concerned about geopolitical tensions and higher crude oil prices.
GIFT Nifty indicated a subdued start for Indian benchmark indices on Monday, 28 September, trading around 23,161.50.
SAIL and Bharat Coking Coal signed an MoU to jointly develop and operate two coal blocks in West Bengal.
Power Grid’s board approved raising up to ₹10,000 crore through an unsecured loan or credit line from State Bank of India.
Rashtriya Chemicals and Fertilizers awarded Larsen & Toubro a ₹797 crore ammonia-plant revamp contract, excluding taxes.
Cupid approved converting up to 30 lakh warrants into an equivalent number of Baazar Style Retail equity shares.
- Who
- Indian equity-market investors and companies including SAIL, Power Grid, Cupid, Rashtriya Chemicals and Fertilizers, and others.
- What
- Several companies announced business agreements, fundraising plans, contracts, property developments, share issuances and other corporate actions likely to affect investor attention.
- When
- Monday, 28 September; Wheels India completed its QIP allotment on 25 September, while Cupid’s warrant-conversion approval was made on Saturday.
- Where
- The developments involve Indian companies and assets including coal blocks in West Bengal, land in Marine Lines, South Mumbai, and an ammonia plant operated by Rashtriya Chemicals and Fertilizers.
- Why
- Investors were monitoring company-specific developments while broader sentiment remained cautious because of geopolitical uncertainty and rebounding crude oil prices.
- Market indicator
- GIFT Nifty was around 23,161.50, down nearly 25.20 points from the previous Nifty futures close.
- Power Grid fundraising
- The board approved raising up to ₹10,000 crore through an unsecured rupee term loan or line of credit from State Bank of India.
- SAIL-BCCL agreement
- The companies signed an MoU to jointly develop and operate two coal blocks in West Bengal.
- RCF contract
- Rashtriya Chemicals and Fertilizers awarded Larsen & Toubro a ₹797 crore purchase order, excluding taxes.
- Wheels India QIP
- Wheels India allotted 11.97 lakh shares at ₹2,088 each after completing its qualified institutional placement.
- CleanMax block deal
- Augment India Holdings was reportedly seeking to sell 85 lakh shares, or a 7.25% stake, in Clean Max Enviro Energy Solutions for an estimated ₹1,062.8 crore.
- Cupid warrant conversion
- Cupid approved conversion of up to 30 lakh warrants into an equal number of Baazar Style Retail equity shares, in one or more tranches.