Summary:
Stocks to watch on September 28 include SAIL, Adani Power, RCF, Aequs, Sedemac Mechatronics, Prestige Estates, Clean Max Enviro, Sunteck Realty and Edelweiss Financial Services following key orders, mergers, fundraising, production updates, regulatory developments and corporate transactions.
Stocks to Watch on September 28
SAIL, Adani Power, RCF, Aequs, Sedemac Mechatronics, Prestige Estates Projects, Clean Max Enviro, Sunteck Realty and Edelweiss Financial Services are among the stocks in focus on September 28 following corporate actions, new orders, production updates, restructuring, stake sales and regulatory developments.
Indian stocks could remain in focus on Monday, September 28, as several companies announced business developments, corporate restructuring measures, new orders, stake sales and regulatory updates. Here are the key stocks to watch in the upcoming trading session.
Stocks in Focus on September 28
| Stock | Why It Is in Focus |
| Aequs | ₹650 crore preferential warrant issue |
| Sedemac Mechatronics | Limited commercial production begins |
| SAIL | MoU with BCCL for two coal blocks |
| Prestige Estates | Subsidiary withdraws proposed IPO DRHP |
| Adani Power | Merger of 10 wholly owned subsidiaries |
| RCF | ₹797 crore ammonia plant revamp order |
| Clean Max Enviro | Proposed 7.25% stake/block deal |
| Sunteck Realty | ₹59.44 crore GST demand notice |
| Edelweiss Financial Services | Carlyle investment in Nido Home Finance |
Aequs Ltd
- Issue size: ~₹650 crore
- Warrants: 2,80,71,690
- Subscriber: Mellwood Trustee Services
- Promoter group: Yes
- Upfront payment: ₹325 crore
- Status: Subject to applicable approvals
Aequs Ltd is likely to remain in focus after its board approved a preferential issue of up to 2,80,71,690 warrants. The warrants will be issued to Mellwood Trustee Services Private Limited, which acts as trustee of the Melligeri Private Family Foundation and is also a member of the promoter group. The proposed transaction is valued at approximately ₹650 crore. The development is a key corporate action for the company and could draw market attention to its capital structure and promoter participation.
Sedemac Mechatronics Ltd
- Development: Limited commercial production commenced
- Facility: New manufacturing facility
- Location: Shinde village, Khed taluka, Pune district
- State: Maharashtra
- Production status: Limited commercial production started
- Nature: Operational milestone
Sedemac Mechatronics Ltd announced the commencement of limited commercial production at its new manufacturing facility in Shinde village, Khed taluka, Pune district, Maharashtra. The start of production marks an operational milestone for the company as it begins commercial activity from the new facility.
SAIL
- Partner: Bharat Coking Coal Ltd (BCCL)
- Agreement: Memorandum of Understanding
- Project: Joint development and operation of coal blocks
- Coal blocks: 2
- Location: West Bengal
- Focus: Coal resources and raw-material supply
Steel Authority of India Ltd (SAIL) signed a Memorandum of Understanding with Bharat Coking Coal Ltd (BCCL) for the joint development and operation of two coal blocks in West Bengal. The proposed collaboration is focused on coal resources and could be relevant for SAIL’s raw-material supply requirements.
Prestige Estates Projects Ltd
- Subsidiary: Prestige Hospitality Ventures Ltd
- Action: DRHP withdrawn
- IPO: Proposed IPO
- Regulator: SEBI
- Document: Draft Red Herring Prospectus
- Status: IPO proposal withdrawn at the DRHP stage
Prestige Estates Projects Ltd will be in focus after its subsidiary, Prestige Hospitality Ventures Ltd (PHVL), withdrew its Draft Red Herring Prospectus filed with SEBI for a proposed IPO. The withdrawal changes the immediate status of the planned public offering and could remain a point of attention for investors tracking the group’s hospitality business.
Adani Power Ltd
- Corporate action: Merger of subsidiaries
- Subsidiaries merged: 10
- Ownership: Wholly owned subsidiaries
- Effective date: September 25, 2026
- Purpose: Group restructuring
- Status: Merger completed
Adani Power completed the merger of 10 wholly owned subsidiaries with the company, effective September 25, 2026. The restructuring consolidates the subsidiaries with Adani Power and represents a significant corporate action involving the group’s power-generation operations.
Rashtriya Chemicals and Fertilizers Ltd
- Order value: ₹797 crore
- Taxes: Excluded; plus applicable taxes
- Contractor: Larsen & Toubro Ltd
- Project: Ammonia plant revamp
- Order basis: Lowest-tender basis
- Tenure: 36 months
Rashtriya Chemicals and Fertilizers Ltd approved a ₹797 crore purchase order, plus applicable taxes, with Larsen & Toubro Ltd for the revamp of its ammonia plant. The order was awarded on a lowest-tender basis and has a tenure of 36 months. The plant revamp is a significant project-related development for the state-owned fertiliser company.
Clean Max Enviro Energy Solutions Ltd
- Seller: Augment India Holdings LLC
- Shares: 85 lakh
- Stake: 7.25%
- Deal type: Proposed block deal
- Reported deal value: ~₹1,062.8 crore
- Reported floor price: ₹1,250 per share
- Status: Proposed/likely divestment; verify execution before publication
Clean Max Enviro Energy Solutions Ltd is also on the radar following a proposed block deal involving Augment India Holdings. The investor is likely to sell 85 lakh shares, representing a 7.25% stake in the renewable energy company. Such a transaction could increase trading activity and liquidity in the stock.
Sunteck Realty Ltd
- Notice: Show-cause notice
- Authority: Department of Goods and Services Tax
- Financial year: FY23
- Total demand: ₹59.44 crore
- Includes: Interest and penalty
- Nature: GST-related demand
- Status: Show-cause notice received
Sunteck Realty Ltd disclosed that it received a show-cause notice from the Department of Goods and Services Tax for FY23. The notice involves a demand of ₹59.44 crore, including interest and penalty. Investors may monitor developments related to the notice and the company’s response.
Edelweiss Financial Services Ltd
- Investee company: Nido Home Finance Ltd
- Investor: Carlyle-affiliated funds
- Investment: ₹2,000+ crore
- Transaction status: Completed
- Stake: Strategic majority stake
- Transaction components: Primary capital infusion and secondary purchase
- Business: Housing finance
Edelweiss Financial Services Ltd announced the completion of Carlyle’s investment of over ₹2,000 crore in Nido Home Finance Ltd. The transaction gives funds affiliated with the global investment firm a strategic majority stake in the housing finance company, marking a significant development for Edelweiss’s financial-services business.
Stocks to Watch September 28 FAQs
SAIL, Adani Power, RCF, Aequs, Sedemac Mechatronics, Prestige Estates, Clean Max Enviro, Sunteck Realty and Edelweiss Financial Services are among the stocks in focus following company-specific announcements.
Aequs is in focus after approving a preferential issue of up to 2,80,71,690 warrants aggregating to approximately ₹650 crore for a promoter-group entity. The issue remains subject to applicable approvals.
Adani Power completed the merger of 10 wholly owned subsidiaries with the company, effective September 25, as part of a group restructuring exercise.
RCF awarded a ₹797 crore purchase order to Larsen & Toubro for the revamp of its ammonia plant, with the project scheduled for completion within 36 months.
SAIL signed an MoU with Bharat Coking Coal Ltd to jointly develop and operate two coal blocks in West Bengal.
Clean Max Enviro is in focus following reports of a proposed block deal involving 85 lakh shares, representing a 7.25% stake, by Augment India Holdings.
No. Stocks featured in a “stocks to watch” article are included because of reported corporate, financial, regulatory or market developments. Inclusion does not imply a buy or sell recommendation.
