Stocks in news: ONGC, Lloyds Metals, Canara Bank, Rays of Belief and GRSE

Indian benchmark indices ended higher on Monday, with the Nifty 50 settling at 23,414.30, up 67.90 points, or 0.29%, while the BSE Sensex closed at 74,858.99, gaining 564.03 points, or 0.76%. From a technical perspective, the 23,500–23,600 zone remains the immediate resistance band, according to analysts. A sustained move above 23,600 would be required to strengthen the ongoing recovery.

Against this backdrop, shares of ONGC, Lloyds Metals and Energy, Canara Bank, Suryoday Small Finance Bank, Pine Labs, Garden Reach Shipbuilders and Engineers, and several other companies are likely to remain in focus on Tuesday following key corporate announcements.

Oil & Natural Gas Corporation (ONGC)

ONGC announced that it struck gas on September 18, 2026, at its deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin, off the Odisha coast, under the Samudra Manthan initiative. The well was drilled to a target depth of 1,623 metres, with the gas strike recorded in the 1,441–1,452 metre interval.

Lloyds Metals and Energy

Lloyds Metals and Energy has approved an investment of Rs 190 crore to expand the capacity of its Direct Reduced Iron (DRI) plants at Ghugus in Chandrapur district and Konsari in Gadchiroli district, Maharashtra.

The company said the expansion is expected to be completed within one year and will be funded through internal accruals.

Read more: Ahead of Market: 10 things that will decide stock market action on Tuesday

Canara Bank

Canara Bank informed the stock exchanges that Moody’s Ratings has assigned a Senior Unsecured (P) rating of Baa3 to the bank.

Suryoday Small Finance Bank

Suryoday Small Finance Bank has approved raising up to Rs 200 crore through the issuance of Lower Tier II non-convertible debentures in a single series.

The issuance will be undertaken on a private placement basis.

Pine Labs

Mastercard Asia Pacific may sell up to 49.7 million shares, representing approximately 4.3% of fintech company Pine Labs, through a block deal worth up to Rs 892.5 crore, according to a report.

Modison

Modison said it has completed the transfer of its entire shareholding in its wholly owned subsidiary, Modison HV Private Limited. Following the transaction, Modison HV Private Limited ceased to be a wholly owned subsidiary of the company with effect from the close of business hours on September 21, 2026.

Read more: Pine Labs block deal: Mastercard Asia may divest 4.3% equity worth Rs 892 crore

Symbiotec Pharmalab

Symbiotec Pharmalab reported consolidated profit after tax of Rs 14.1 crore for Q1 FY27, compared with Rs 29.9 crore in Q1 FY26. Revenue increased to Rs 218.2 crore from Rs 203.2 crore in the year-ago quarter. The company said new businesses that have not yet started generating revenue resulted in additional expenses, including operating expenditure of Rs 23 crore and depreciation of Rs 12 crore.

Revenue generation from various new businesses is expected to commence over the next six to 12 months, according to the company.

Knowledge Marine & Engineering Works

CARE Ratings has reviewed and revised the outlook on the credit ratings assigned to Knowledge Marine & Engineering Works. The rating outlook for long-term bank facilities has been upgraded to “BBB+; Positive”, while the “A2” rating for short-term bank facilities has been reaffirmed.

Dixon Technologies (India)

Dixon Technologies said Adivistar Electronics India Private Limited has been incorporated as a subsidiary of the company. Dixon has paid the subscription money for 25.50 lakh equity shares of Adivistar Electronics India, with a face value of Rs 10 each.

PI Industries

PI Industries said it has received registration for Pioxaniliprole, described by the company as India’s first discovered insecticide, under Section 9(3) of the Insecticides Act, 1968. The registration covers the TIM and FIM categories and follows the minutes of the 476th Registration Committee meeting held on September 10, 2026, which were published on the Ministry of Agriculture & Farmers Welfare website on September 21.

Pace Digitek

Pace Digitek said its material subsidiary, Lineage Power, has received a Letter of Award worth Rs 488.46 crore from NTPC GE Power Services. The order covers the supply and commissioning of Battery Energy Storage System (BESS) containers.

GK Energy

GK Energy said it has received a Letter of Award from Maharashtra State Electricity Distribution Company Limited for setting up 150 MW/300 MWh of Battery Energy Storage Systems in Maharashtra.

Garden Reach Shipbuilders and Engineers

Garden Reach Shipbuilders and Engineers (GRSE) on Monday approved a capital budgetary outlay of Rs 2,896 crore for the construction of a greenfield shipyard at Raichak in West Bengal’s South 24 Parganas district.

Rays of Belief

Rays of Belief Limited, which operates primarily under the Mom’s Belief brand, has completed the acquisition of 100% of City Pro Group Inc. through its wholly owned subsidiary, Mom’s Belief US Inc. City Pro Group has become a step-down wholly owned subsidiary of Rays of Belief, effective September 18, 2026.

Allcargo Global

Allcargo Global reported a decline in cargo volumes in August as the logistics company continued to reduce loss-making shipping routes. The company said the move has helped improve yields. Allcargo handled 711,000 cubic metres of less-than-container-load (LCL) cargo in August, down 7% year-on-year and 2% from July, according to its monthly operational update.

PDS

PDS said it has completed the transfer of its remaining 49% stake in DBS Lifestyle India Private Limited, following the execution of a Share Purchase Agreement with Bhawnish Suri, Divya Suri and DBS Lifestyle. The transaction was completed on September 21, 2026. Following the transfer, DBS Lifestyle, Suri Overseas Private Limited and Pangram Brands Global Private Limited ceased to be associates of PDS with effect from September 21, 2026.

Disclosure: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.