Stocks to Watch Today, June 23: Zen Technologies, NLC India, Bajel Projects, Bharat Electronics, Granules India & Waaree Renewable Take Centre Stage
Market mood in a nutshell
Stocks to Watch Today: Indian equities are expected to open on a cautious note after Friday’s volatile close, but six mid-cap and state-run names have fresh triggers that could draw outsized attention in Monday’s trade. From defence acquisitions and clean-energy storage awards to FDA inspections and a solar EPC windfall, here’s why these counters deserve a spot on your watchlist.
Zen Technologies
Zen Technologies has doubled down on its unmanned-systems push by buying a majority stake in TISA Aerospace, a start-up that builds indigenous loitering munitions and UAVs. The deal mixes a secondary share purchase with compulsorily-convertible debentures, giving Zen immediate control and a pipeline of next-generation defence products. Traders will watch for synergy updates and margin guidance at the next earnings call.
NLC India
A subsidiary, NLC India Renewables, bagged a ₹250 MW/500 MWh Battery Energy Storage System (BESS) mandate from Tamil Nadu Green Energy Corporation. Executed on a Build-Own-Operate model with state Viability Gap Funding, the project positions NLC as a first mover in grid-scale storage—an area markets value for its predictable cash flows.
Bajel Projects
Engineering arm Bajel Projects clinched an EPC order topping ₹400 crore for 400 kV transmission lines and a bay-extension package in Madhya Pradesh, routed through Power Grid’s SPV MEL Power Transmission. The win more than doubles its open order book and could lift FY26 revenue visibility. moneycontrol.com
Bharat Electronics (BEL)
State-owned BEL announced fresh defence electronics orders worth ₹585 crore since 5 June, spanning missile fire-control systems, secure communications, jammers and life-cycle spares. Beyond topline support, the high-margin nature of these products typically boosts BEL’s EBITDA profile—one reason brokers keep a structural “buy” on the stock.
Granules India
The US FDA wrapped up a week-long inspection of Granules’ API Unit-I in Sangareddy with one Form 483 observation. Management has 15 days to file a corrective-action plan; analysts believe the single, non-critical remark limits the risk of import alerts. Even so, the stock could see knee-jerk moves as the market decodes the observation’s severity.
Waaree Renewable Technologies
Solar EPC specialist Waaree Renewable secured an additional ₹246.9 crore within an existing 2.01 GWp ground-mounted project, pushing the contract’s total value to ₹1,480 crore. The upsized mandate cements Waaree’s status as one of the fastest-scaling green-energy contractors in India. moneycontrol.com
Quick Financial Snapshot (FY 2024-25)
| Company | Basic EPS (₹) | ROE (%) | Debt/Equity | Net Profit Margin (%) |
|---|---|---|---|---|
| Zen Technologies | 30.09 | 15.56 | 0.03 | 28.25 |
| NLC India | 13.70 | 10.87 | 0.43 | 18.47 |
| Bajel Projects | 1.34 | 2.64 | 0.21 | 0.59 |
| Bharat Electronics | 7.23 | 26.84 | 0.00 | 22.35 |
| Granules India | 13.17 | 9.38 | 0.24 | 10.53 |
| Waaree Renewable | 22.03 | 50.24 | 0.06 | 14.36 |
Take-away: BEL and Waaree boast the highest capital returns, while Zen’s margin profile underscores its pricing power in defence simulators. NLC’s leverage is moderate and backed by regulated cash flows; Bajel’s thin margins are typical for early-cycle EPC players.
Key risks to monitor
- Geopolitical jitters could hit defence export approvals for Zen and BEL.
- Any escalation in FDA findings would pressure Granules’ valuations.
- Execution delays on BESS or solar projects may defer revenue recognition for NLC India and Waaree Renewable.
Investor Q&A
Q1. Why is Zen Technologies under the spotlight today?
Zen is acquiring a majority stake in TISA Aerospace, giving it immediate access to loitering munitions and UAV technology—segments with high global demand.
Q2. What makes NLC India’s BESS award significant?
It is one of India’s earliest large-scale storage projects under a BOO model, ensuring 20-year annuity-style cash flows and diversifying NLC beyond lignite power.
Q3. How big is Bajel Projects’ new order?
The EPC contract is valued at over ₹400 crore, more than doubling its open order book and enhancing medium-term earnings visibility. moneycontrol.com
Q4. What’s in BEL’s latest order basket?
BEL won ₹585 crore of high-margin defence electronics, including missile fire-control and secure communications gear, supporting its industry-leading ROE of 26.8 percent.
Q5. Should investors worry about Granules’ Form 483?
The single observation is viewed as minor; Granules plans to respond within the FDA’s 15-day window, limiting regulatory overhang. moneycontrol.com
Q6. How does Waaree’s additional ₹246.9 crore order move the needle?
It lifts the ongoing solar EPC project’s value to ₹1,480 crore, underpinning Waaree’s sector-leading ROE above 50 percent and reinforcing earnings momentum.
For more market insights, follow our news.
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resource like MoneyControl, ET, NSE India.