BSE Enters NIFTY50, Key Listings and Corporate Moves Shape Market Outlook
Shares of BSE Ltd, formerly known as Bombay Stock Exchange, will begin trading on the NIFTY50 index on Wednesday as part of the bi‑annual index rebalancing. The company will enter the country’s benchmark index for the first time, replacing IT solutions provider Wipro. The domestic stock market is expected to open flat on Wednesday, September 30, while GIFT NIFTY futures suggest that the NIFTY50 index will open 25 points lower. This move marks a significant milestone for BSE, which has long been a key exchange operator in India.
On the same day, several companies will be listed on the stock exchanges. Adroit Industries (India), Elevate Campuses, ArMee Infotech and Swastika Infra are slated for listing on Wednesday. These new entrants will broaden the diversity of the market and provide fresh investment opportunities for traders and investors alike. The listings will be executed through the BSE and NSE platforms, with initial pricing to be determined by the companies and their underwriters. Investors are advised to review the prospectuses before committing capital in advance.
Prestige Estates Projects Ltd, a real‑estate player, announced that its hospitality unit has raised ₹3,000 crore from the Canada Pension Plan Investment Board (CPPIB) by diluting a 27% stake. The majority of the capital will be used for continued expansion of the platform, the firm said in a regulatory filing. PHVL owns and operates a portfolio of luxury and premium hotels in key cities across India. Recently, Prestige Estates shelved plans to launch an IPO of PHVL due to uncertain market conditions and some other factors.
Allcargo Logistics has appointed Vijay Nehra as its Managing Director & Chief Executive Officer from January 2027, replacing incumbent Ketan Kulkarni. For the interim period, Nehra has been appointed as Chief Transformation Officer and MD‑designate from October 1, a strategic leadership transition aimed at accelerating the company’s growth momentum and strengthening its talent pool to position it for the next phase of progress. Outgoing MD and CEO Kulkarni will take up the role of Chief Growth Officer (CGO) at Allcargo Group, effective January 1, 2027, as announced by the company.
Power Mech Projects, an infrastructure‑construction company, has bagged a ₹549.37 crore operation and maintenance order from Adani Group company Moxie Power Generation. The scope of work includes providing complete operation and maintenance services at 2x600 MW Moxie Power Generation Ltd. Tuticorin TPP, with a contract period of five years effective October 1, as disclosed in a regulatory filing. Meanwhile, Ganesh Benzoplast signed a definitive agreement to sell its Liquid Storage Tank and Railway Network Businesses to Cisternina Logistics Pvt Ltd, in which KKR will make a majority investment. The company said it will use the proceeds from the sale to grow and expand its capacity for manufacturing of chemicals, lube oil additives, food preservatives, and chemical trading and to execute higher‑value projects in the EPC business.
KSB, a pumps and valves maker, secured a significant export order worth ₹118 crore from Dangote Projects Free Zone Enterprise for the supply of a boiler feed pump package. The order reinforces KSB’s strong capabilities in delivering high‑efficiency, engineered pumping solutions for critical process applications and further strengthens its presence in the international fertilizer and energy sectors, the company said in an exchange filing. Separately, the Regents of the University of California sold a 0.89% stake in 360 ONE WAM for ₹374.31 crore through an open market transaction on Tuesday, divesting 36.33 lakh shares at an average price of ₹1,030.08 apiece. Capital Small Finance Bank saw Oman India Joint Investment Fund II offload 11.02 lakh shares, a 2.4% stake, for ₹31 crore at an average price of ₹280 apiece, valuing the transaction at ₹30.87 crore. Meanwhile, Mubadala Investment Company sold a 3.35% unitholding in SEBI‑registered InvIT Cube Highways Trust for ₹689.46 crore through separate block deals, while a clutch of domestic institutional investors bought an equal number of units at the same price. Larsen & Toubro emerged as the largest buyer of units, acquiring 97.84 lakh shares for ₹150 crore.