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Indian equity markets remained under pressure on Wednesday, September 9, extending their recent corrective phase amid escalating geopolitical tensions. The NSE Nifty 50 declined 0.86% to close at 23,431.50, while the BSE Sensex fell 1.08% to 74,764.2.
On the technical front, the Nifty50 slipped below its previous swing low on the daily chart, while the RSI moved into the oversold zone. According to Rupak De, Senior Technical Analyst at LKP Securities, the trend remains weak. A hold above 23,500 on Thursday could lead to a meaningful recovery, while a break below 23,400 could trigger further correction.
Against this backdrop, shares of Reliance Industries, Wipro, Coal India, ICICI Prudential AMC and several other companies are likely to remain in focus on Thursday following key corporate developments.
Railway Stocks
Shares of railway-related companies will be in focus after the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved five Ministry of Railways projects at a total cost of ₹10,021 crore.
Reliance Industries
Reliance Industries informed the exchanges that it has received credit-rating letters from CARE Ratings and CRISIL.
CARE Ratings assigned the company a rating of CARE AAA/Stable, while CRISIL Ratings assigned CRISIL AAA/Stable.
The letters were received on September 9, 2026, at 6:12 p.m. and 6:41 p.m. IST, respectively.
Coal India
State-owned Coal India said its major coal-producing subsidiary, Northern Coalfields Ltd (NCL), has accelerated coal production and dispatch as rainfall eases.
As of September 8, production had increased 67%, while supply rose 75%, compared with the average for September 1-3.
Hindustan Zinc
Hindustan Zinc has signed a six-year transportation contract with MFL India for the deployment of 30 electric trucks.
The trucks will transport zinc and lead concentrate from the company's Rampura Agucha mine to smelting facilities in Rajasthan.
ICICI Prudential Asset Management Company
The RBI has approved ICICI Prudential Asset Management Company to acquire up to a 9.95% stake in CSB Bank, DCB Bank, Kotak Mahindra Bank and AU Small Finance Bank.
Wipro
Wipro and CrowdStrike have launched a cybersecurity command centre to help companies detect and respond to cyber threats, including threats enabled by artificial intelligence.
GMR Airports
GMR Airports allotted ₹1,500 crore of non-convertible bonds at an interest rate of 9.56%, with a tenure of up to 36 months. The bonds were issued through private placement to refinance existing NCBs carrying 10.75% interest.
Union Bank of India
Union Bank of India said operations at its branches and administrative offices across the country could be affected after several bank employee and officer unions announced multiple rounds of strikes beginning September 11.
Equitas Small Finance Bank
Equitas Small Finance Bank said its Board of Directors will meet on September 16, 2026, to consider and approve raising capital through the issuance of unsecured, subordinated, transferable, redeemable and fully paid-up Lower Tier II bonds in the form of non-convertible debentures on a private-placement basis.
Gujarat Ambuja Exports
Gujarat Ambuja Exports said it will establish an 850 tonnes-per-day (TPD) greenfield corn wet milling plant at Hubli, Karnataka.
The project involves an investment of ₹333 crore through internal accruals and is subject to regulatory approvals and clearances.
Nesco
Nesco said National Highways Logistics Management Limited (NHLML) has levied a penalty of ₹2,09,72,000 pursuant to tender no. 2024_NHAI_198970_1.
The company said it will make a representation to NHLML and take appropriate action in accordance with the contractual provisions.
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IRB Infrastructure Developers
IRB Infrastructure Developers reported an approximately 25% year-on-year increase in gross toll revenue to ₹807 crore in August 2026, compared with ₹646 crore in August 2025.
Enviro Infra Engineers
Enviro Infra Engineers said its step-down subsidiary, Suyog Urja Ltd (SUL), has received a Letter of Intent worth ₹224 crore, including GST, from Tata Power Renewable Energy Ltd.
The order covers engineering, procurement and construction (EPC) turnkey works for a 180 MW NTPC wind power project at Parli, Maharashtra.
360 ONE WAM
360 ONE WAM said ESG Risk Assessments & Insights Limited, a company registered with SEBI as a Category I ESG rating provider, has assigned a rating of 55 to the company.
Dilip Buildcon
Dilip Buildcon received a Letter of Intent from PNGRB to develop an LPG pipeline from Paradip, Odisha, to Raipur, Chhattisgarh.
The project includes a three-year construction period and 25-year operation period, with EPC work representing a business opportunity of about ₹1,800 crore, excluding GST.
Shakti Pumps (India)
Shakti Pumps (India) has received an order worth ₹235.92 crore from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) to supply and install 10,000 solar-powered water pumping systems across Maharashtra.
This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and his/her ‘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.
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