Stocks to Watch: Wheels India, Waaree Energies, Nykaa, JSW Cement and Others in Focus

Indian stocks are likely to remain in focus on Friday as investors track a mix of fundraising activities, business expansion, acquisitions, new orders and regulatory developments. Several companies announced material corporate updates that could influence investor sentiment and trading activity.

Which stocks are in focus today, September 25?

Wheels India, Inox Green Energy Services, Waaree Energies, Dr Lal PathLabs, Sterlite Technologies, L&T Technology Services, LCC Projects, Nykaa and JSW Cement are among the stocks in focus on September 25 following corporate developments involving QIPs, acquisitions, partnerships, orders and regulatory actions.

Stocks to Watch September 25: Quick View

Wheels India: QIP Opens at ₹2,197.10 Floor Price

Key points:

• QIP opened on September 24.
• Floor price: ₹2,197.10 per share
• Potential discount: up to 5%
• Focus: institutional fundraising

Wheels India is in focus after opening its QIP on September 24 with a floor price of ₹2,197.10 per share and a provision to offer a discount of up to 5%.

The fundraising exercise will be closely watched as the company seeks to raise capital from qualified institutional buyers.

Inox Green Energy Services: ₹300 Crore QIP Opens at ₹174.36 Floor Price

Key points:

• QIP opened on September 24.
• Floor price: ₹174.36 per share
• Potential discount: up to 5%
• Fundraising focus: business expansion and investment in subsidiaries

Inox Green Energy Services also opened its QIP on September 24. The floor price for the issue has been set at ₹174.36 per share, with the company permitted to offer a discount of up to 5%. The QIP will remain a key corporate development for investors tracking the company's capital-raising plans.

Waaree Energies: Enters Specialty Gases Business

Key points:

• Wholly owned subsidiary Waaree Clean Energy Solutions entered the specialty gases market.
• Focus areas: semiconductor and solar cell manufacturing
• Planned products include ultra-high-purity gases and specialised gas mixtures.
• Facility is being developed at GIDC Saykha, Dahej, Gujarat.

Waaree Energies is in focus after its subsidiary, Waaree Clean Energy Solutions, announced its entry into India's specialty gases business. The company aims to become a one-stop supplier of specialty gases to semiconductor and solar cell manufacturers. The move comes as demand for specialised manufacturing inputs grows alongside investments in India's semiconductor and renewable energy ecosystems.

Dr Lal PathLabs: To Acquire 70% Stake in SN Genelab

Key points:

• Board approved acquisition of a 70% stake in SN Genelab.
• Deal value: up to ₹168 crore
• Additional performance-linked earn-out: up to ₹31.5 crore
• Focus: expanding genomics and diagnostic testing capabilities
• Expected completion: November 30, 2026

Dr Lal PathLabs' board has approved the acquisition of a 70% stake in SN Genelab from its existing shareholders for up to ₹168 crore. Following completion, SN Genelab will become a subsidiary of Dr Lal PathLabs. The transaction is expected to be completed by November 30, 2026.

Sterlite Technologies: Expands Data Centre Fibre Portfolio

Key points:

• Introduced pre-terminated fibre trunk assemblies under its Neuralis Data Center portfolio.
• Fibre range: 48F to 6,912F
• Target customers: hyperscale and enterprise data centres
• Focus: high-density connectivity for AI, cloud and data-centre infrastructure

L&T Technology Services: Partners With Cognite for Industrial AI

Key points:

• Entered a strategic partnership with Cognite.
• Focus: Industrial AI and data solutions
• Established a dedicated Cognite Centre of Excellence.
• More than 50 LTTS engineers have been certified.
• Target sectors include oil & gas, chemicals, LNG, mining and manufacturing.

Sterlite Technologies has strengthened its Neuralis Data Center portfolio with pre-terminated fibre trunk assemblies ranging from 48F to 6,912F. The portfolio is designed for hyperscale and enterprise data centres, where bandwidth requirements are increasing due to AI, cloud and high-performance computing workloads.

L&T Technology Services has entered into a strategic partnership with Cognite to develop and deliver Industrial AI and data solutions for asset-intensive industries. The partnership will combine LTTS' engineering capabilities with Cognite's Industrial AI solutions.

LCC Projects: Emerges as L-1 Bidder for ₹653.34 Crore Project

Key points:

• Emerged as L-1 bidder for the Chhoti Kalisindh Medium Irrigation Project in Rajasthan.
• Project value: ₹653.34 crore
• Project includes irrigation and solar-powered sprinkler systems.
• Location: Jhalawar district, Rajasthan
• Final contract award remains subject to the applicable process.

LCC Projects has emerged as the L-1 bidder for the Chhoti Kalisindh Medium Irrigation Project in Rajasthan. The project, based on a sprinkler system with solar power, has an estimated value of ₹653.34 crore. The order win could add to the company's project pipeline.

Nykaa: Partners With L’Oréal's BOLD Fund

Key points:

• Parent company FSN E-Commerce Ventures partnered with BOLD, L’Oréal's corporate venture capital fund.
• Focus: investing in high-growth Indian beauty and personal care brands.
• Target segments include beauty, personal care and wellness.
• Partnership combines Nykaa's market ecosystem with L’Oréal's industry expertise.

FSN E-Commerce Ventures, which operates Nykaa, has partnered with L’Oréal's corporate venture capital fund BOLD to jointly invest in high-growth Indian beauty and personal care brands. The collaboration is aimed at supporting emerging brands in the sector.

JSW Cement: Receives ₹229.85 Crore GST Show-Cause Notice

Key points:

• Received a GST show-cause notice from Central GST authorities.
• Proposed demand: ₹229.85 crore
• Matter relates to an alleged short payment of GST linked to transaction classification.
• Interest and penalty provisions are also part of the notice.
• The amount is a proposed demand, not a final tax liability.

JSW One Platforms: Files DRHP for ₹3,054 Crore IPO

Key points:

• Filed Draft Red Herring Prospectus (DRHP) with SEBI.
• Proposed IPO size: up to ₹3,054 crore
• Fresh issue: ₹1,300 crore
• Offer for Sale: ₹1,754 crore
• Final IPO size, pricing and timeline remain subject to the regulatory process.

JSW Cement has received a show-cause notice from the Additional Commissioner, Central Tax, Belagavi Audit Commissionerate, concerning alleged short payment of GST due to incorrect classification. The department has proposed a GST demand of ₹229.85 crore, along with applicable interest and a 10% penalty. Separately, JSW One Platforms has filed a DRHP with SEBI, BSE and NSE to raise up to ₹3,054 crore through an IPO.

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