Stocks in news: IndiGo, RIL, JSW Steel, Pine Labs, ONGC
Indian markets experienced a volatile session, closing marginally lower due to a weakening rupee and caution ahead of the MPC meeting. IndiGo faced an investigation by DGCA for flight disruptions, while NHPC synchronized a unit of its Subansiri project. ONGC's chairman received a one-year extension, and RIL partnered with Surrey County Cricket Club for the Oval Invincibles franchise.
Synopsis
Indian markets experienced a volatile session, closing marginally lower due to a weakening rupee and caution ahead of the MPC meeting. IndiGo faced an investigation by DGCA for flight disruptions, while NHPC synchronized a unit of its Subansiri project. ONGC's chairman received a one-year extension, and RIL partnered with Surrey County Cricket Club for the Oval Invincibles franchise.
Markets witnessed a volatile session and ended marginally lower, extending the ongoing consolidation phase. Sentiment was dampened by a weakening rupee, which hit a record low of 90.13 against the dollar, heightening concerns around import costs and triggering FII outflows. In addition, caution ahead of the MPC meeting and mixed global cues added to the subdued mood.
Although the Nifty slipped below the crucial short-term support of the 20-DEMA around 25950 level during the session, the closing-hour recovery helped it reclaim this level. Analysts said participants should manage position sizes prudently and maintain a selective approach—favoring IT and pharma for long trades while considering opportunities in rate-sensitive pockets on dips.
In today's trade, shares of IndiGo, RIL, JSW Steel, Pine Labs, ONGC among others will be in focus due to various news developments.
IndiGo
The Directorate General of Civil Aviation (DGCA) on Wednesday announced that it has launched an investigation into widespread flight disruptions at IndiGo, asking the airline to explain the reasons behind the operational breakdown and submit a mitigation strategy to reduce cancellations and delays going forward.
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NHPC
State-owned NHPC said it has synchronised Unit 2 of the 2,000-MW Subansiri Lower Hydroelectric Project with the national grid. The project has eight units of 250 MW each. Unit 2 is the first to be synchronised. Upon completion, the project is expected to contribute 7.421 billion units of renewable energy annually, strengthening the country’s energy sector and helping India meet its carbon neutrality target.
ONGC
The government has approved a one-year extension for Arun Singh as chairman of Oil and Natural Gas Corporation (ONGC). His three-year term was scheduled to end on December 6. Singh, who retired as chairman of Bharat Petroleum Corporation in 2022, was brought in to reinvigorate ONGC at a time when the company was grappling with years of declining output.
RIL
Reliance Strategic Business Ventures, a wholly owned subsidiary of Reliance Industries, and Surrey County Cricket Club, announced their partnership in the Oval Invincibles franchise in The Hundred. This follows the completion of a
deal, which gives the organisations 49% and 51% stakes in the franchise, respectively, transferring ownership from England and Wales Cricket Board. As part of this new partnership, from 2026 both the men’s and the women’s teams will be known as MI London.
JSW Steel
The company has completed the acquisition of 100% equity interest in Saffron Resources Private in accordance with the share purchase agreement as amended from time to time. Consequently, Saffron has now become a wholly-owned subsidiary of the company.
Pine Labs
Payment solutions company Pine Labs swung back into black, reporting a consolidated net profit of Rs 6 crore in the September-ended quarter versus a loss of Rs 32 crore in the year ago period. The company's revenue from operations in Q2FY26 stood at Rs 650 crore, up 18% over 552 crore reported in the corresponding quarter of the last financial year.
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