Twelve stocks including ONGC and GRSE in focus after major announcements
Oil and Natural Gas Corporation Limited (ONGC) has reported a gas discovery at its deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin off the Odisha coast. The well, drilled to a target depth of 1,623 metres, recorded gas in the 1,441–1,452 metre interval and is located about 43 km from Konark. This marks the first well under the Samudra Manthan initiative in the Mahanadi Basin, with potential for early monetisation pending further appraisal.
Garden Reach Shipbuilders and Engineers (GRSE) has approved a capital outlay of ₹2,896 crore to build a Greenfield Shipyard at Raichak, aiming to expand its shipbuilding capacity for both naval and commercial vessels.
Waaree Energies Ltd has secured an order to supply 2 GW of solar modules for delivery in Financial Year 2026-27 and 2027-28 from a prominent solar developer.
Nazara Technologies has executed a formal loan agreement to provide an unsecured facility of up to ₹28 crore to its wholly-owned subsidiary, Smaaash Entertainment Private Limited. The loan will be disbursed in tranches to support working capital, capital expenditure, and asset acquisition.
GK Energy Ltd has been awarded a Letter of Award by Maharashtra State Electricity Distribution Company Limited to set up 150 MW/300 MWh of Battery Energy Storage Systems (BESS) in Maharashtra. The award comes under a tariff-based global competitive bidding process with Viability Gap Funding support, at a tariff of ₹2,38,000 per MW per month, translating to estimated annual revenue of ₹42.84 crore excluding GST over a 15-year period post-commercial operations.
Kirloskar Ferrous Industries Ltd has appointed Ajay Patil as Joint Managing Director. He brings 36 years of experience in areas such as profitable growth, corporate governance, business strategy, capital allocation, mergers and acquisitions, and sustainability.
Wheels India Ltd has allotted 12,32,031 equity shares via a preferential issue on a private placement basis. The shares, with a face value of ₹10, were issued at ₹1,461 each, including a premium of ₹1,451, resulting in a total consideration of ₹1,79,99,97,291.
Vinati Organics Limited has announced a fresh capital infusion into its wholly-owned subsidiary, Veeral Organics Private Limited, through subscription to an additional rights issue of equity shares.
UFlex Ltd has been granted a patent by the Indian Patent Office for a "High-Speed Twin Aseptic Pack Packaging Machine for Liquid Products", valid for 20 years from the filing date of September 1, 2023.
Transrail Lighting Ltd has completed phase 1 of a brownfield expansion for conductor manufacturing at its Silvassa facility, increasing capacity from 24,000 km/annum to 40,800 km/annum. Phase 2 is underway and will double the original capacity upon completion.
Neogen Chemicals Ltd has successfully completed its first Qualified Institutions Placement (QIP), raising approximately ₹600 crore. The issue was oversubscribed by more than 6.5 times, with 26,60,753 equity shares allotted at ₹2,255 per share. The QIP saw participation from major domestic and global institutional investors.
Lineage Power, a materials subsidiary of Pace Digitek, has secured a ₹488.46 crore contract from NTPC GE Power Services (NGSL) for the supply of 5.02 MWh of Battery Energy Storage System (BESS) containers. The contract includes installation, commissioning, and 12-year lifecycle maintenance.
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