Stock Market Today (20 September 2026): Adani Power ₹48,000 Cr Assam Project, DMart Expansion, RVNL Order and Defence Focus

Key Market Highlights

Adani Power: ₹48,000 Crore Assam Project Begins

Adani Power is in focus after beginning work on a ₹48,000 crore power project in Assam. The project represents a significant long-term investment and strengthens the company's presence in the eastern Indian power market.

The development is important for investors tracking Adani Power's generation-capacity expansion, project execution and future power demand. The company's proposed acquisition of a 51% stake in Jaiprakash Power Ventures also remains a major strategic development to monitor.

DMart: Store Network Continues to Expand

Avenue Supermarts, the operator of DMart, opened another store in Narmadapuram, Madhya Pradesh, taking its total store count to 512. A separate update from 19 September reported the opening of a store on Sua Road in Ludhiana, taking the count to 511 at that point.

Continued store additions remain an important indicator for DMart's long-term revenue growth. Investors will continue to track new-store productivity, same-store growth, margins and the pace of expansion across different regions.

RVNL: ₹404.88 Crore Railway Infrastructure Order

Rail Vikas Nigam Limited received an approval letter from East Coast Railway for infrastructure projects worth ₹404.88 crore. The work includes roadbed construction, bridges and electrification between Khurda Road and Vizianagaram.

The order adds to RVNL's railway infrastructure pipeline and provides additional execution visibility. Order inflows, project completion timelines and margin performance remain key factors for the company.

NTPC Green Energy: Renewable Capacity Crosses 10.9 GW

NTPC Green Energy continued its renewable-energy expansion with additional solar and wind capacity. The company reported the launch of a 68.22 MW third phase of the 200 MW Dahod solar project, taking its total capacity to more than 10.9 GW.

The company also added 78 MW of solar and wind capacity in a separate update. The continued commissioning of projects supports NTPC Green Energy's long-term renewable capacity growth strategy, while execution and capital requirements remain important considerations.

Knowledge Marine: 15-Year Mumbai Port Green Tug Deal

Knowledge Marine & Engineering Works secured a 15-year contract from Mumbai Port for a green tug. The contract is valued at approximately ₹279 crore.

The long-duration agreement strengthens revenue visibility for the marine infrastructure company and aligns with the broader transition toward cleaner port operations. Investors may track vessel deployment, contract execution and future green-tug opportunities.

Defence Stocks: Tirupati Forge Gets 155mm Artillery Shell Licence

Tirupati Forge received an industrial licence to manufacture artillery shells up to 155mm calibre, with pilot production targeted for December 2026. The development places the company within the expanding domestic defence-manufacturing ecosystem.

Prime Industries also announced the appointment of Deepak Handa as a director to support growth initiatives in defence and technology. The company is additionally considering a ₹40 crore share issue at ₹42 per share, with an increased focus on the automotive sector.

SAIL: ₹26,010 Crore Turnover and ₹1,636 Crore Profit

Steel Authority of India reported turnover of ₹26,010 crore and profit after tax of ₹1,636 crore. The company's reported debt stood at ₹31,970 crore, with a debt service coverage ratio of 1.66 and an interest coverage ratio of 4.80.

The numbers keep SAIL's earnings, debt levels and operating cash generation in focus as investors assess the outlook for the domestic steel industry.

Engineers India: Dividend and West Asia Opportunity

Engineers India announced a ₹2.50 per share dividend, with the ex-date approaching in the coming days. The company is also targeting opportunities in West Asia's oil and gas infrastructure market amid changing regional project dynamics.

The company's order pipeline and potential Gulf projects could remain important growth drivers, while investors will also monitor execution of its existing backlog and international order inflows.

Other Stocks in Focus

Market Outlook

The major themes entering the week are power and renewable-energy expansion, railway infrastructure, defence manufacturing, retail expansion and large industrial orders. Adani Power's ₹48,000 crore Assam project stands out for its scale, while RVNL and Knowledge Marine provide fresh order visibility in infrastructure and marine services.

Renewable-energy additions by NTPC Green Energy, new defence manufacturing opportunities and Engineers India's focus on West Asian projects also highlight the continued investment cycle across infrastructure and energy. Investors may focus on execution, order conversion, capital expenditure, leverage and operating margins as these announcements translate into financial performance.

Stocks to Watch

Adani Power, DMart (Avenue Supermarts), RVNL, NTPC Green Energy, Knowledge Marine & Engineering Works, Tirupati Forge, SAIL, Engineers India, Asian Paints, Refex Industries, Coforge and Apollo Pipes are among the stocks to watch following the latest corporate developments.