Stocks to Watch June 9, 2026: NLC OFS, Telco Ruling

Indian equities head into Tuesday’s trade with several stock-specific triggers likely to shape early moves, ranging from a government offer-for-sale in NLC India to a Bombay High Court ruling on spectrum charges for telcos. Investors will also track corporate actions, fresh project wins, and capex announcements that could influence intraday sentiment.

The stocks expected to remain in focus include Bharti Airtel, Vodafone Idea, NLC India, Grasim Industries, RVNL and SpiceJet. Other names mentioned as being watched include BPCL, Avantel Ltd, IRB Infra, HCLTech and Bank of India.

Corporate actions: ex-dividend and amalgamation trade-date

Two counters will see corporate action-related adjustments at the open. Shares of INOX India and Nelco are set to trade ex-dividend on Tuesday, which typically means the stock price reflects the dividend entitlement having moved past the record date.

Separately, shares of Wim Plast will trade-date for an amalgamation. Such sessions are often monitored for price adjustments and settlement-related clarity, particularly by short-term traders.

NLC India: government announces stake sale via OFS

NLC India is expected to be among the most closely tracked stocks after the Government of India announced an offer for sale (OFS) of up to 3 percent of its stake in the state-owned company.

As per the details provided, the government will sell up to 41.6 million shares, described as 3 percent of NLC India’s equity capital. The floor price for the OFS has been set at ₹303 per share, compared with the stock’s last closing price of ₹336, implying a discount of about 10 percent.

The OFS is scheduled to open on June 9 for non-retail investors and on June 10 for retail investors.

In the Hindi-language update included in the provided text, the OFS is described as a 2 percent equity sale with a 1 percent greenshoe option in case demand is higher. Investors are likely to watch final exchange notifications and order-book data for clarity on subscription and the final quantum of shares sold.

Bharti Airtel and Vodafone Idea: Bombay High Court strikes down OTSC

Bharti Airtel and Vodafone Idea are likely to stay in focus after the Bombay High Court struck down the Centre’s one-time spectrum charge (OTSC) imposed on the telcos.

The ruling relates to the Department of Telecom’s 2012 decision to levy the charge. The court held that the government lacked the authority to retrospectively alter the financial terms of telecom licences years after they had been granted.

The Hindi excerpt adds that the OTSC applied to telecom companies holding more than 6.2 MHz spectrum. The broader market focus is on whether the order helps clear a long-running issue, particularly as the matter is described as pending before the Supreme Court.

Grasim Industries: ₹3,094 crore Lyocell Phase II expansion

Grasim Industries announced an investment of ₹3,094 crore for Phase II expansion of its Lyocell capacity at Harihar, Karnataka. The company plans to add 110 KTPA of capacity.

The expansion is set to comprise two production lines of 55 KTPA each. The company also described each line as 150 tonnes per day.

Grasim expects the first line to be commissioned by 2028, and the second line by 2030. The announcement is likely to be tracked for capex phasing, execution milestones, and how the new capacity fits into the company’s longer-term manufacturing roadmap.

RVNL: EPC order from South East Central Railway

Rail Vikas Nigam Limited (RVNL) has secured a new order from South East Central Railway for an engineering, procurement and construction (EPC) project in Chhattisgarh.

The contract is valued at ₹221.33 crore. The company indicated the project involves replacing the old panel interlocking system with an electronic interlocking system.

Such rail EPC wins typically draw investor attention due to their impact on the order book and revenue visibility, although the pace of execution and certification remains a key variable for quarterly numbers.

SpiceJet: plans to add three A320s on damp lease

SpiceJet said it plans to induct three Airbus A320 aircraft on a damp lease next month as it looks to expand its fleet.

The update will be watched in the context of fleet availability and operational ramp-up. For airline stocks, announcements related to aircraft induction and leasing structures can also influence expectations around capacity deployment and route planning.

HCLTech: AI Innovation Zone with Google Cloud

HCLTech announced the launch of an AI Innovation Zone in collaboration with Google Cloud. The facility is located in Santa Clara, California.

According to the company’s statement, the zone is intended to enable global enterprises to scale AI applications across agentic, kinetic and physical AI. Investors typically track such partnerships for signals on demand trends in enterprise AI services and the company’s positioning in large transformation deals.

IRB group: May 2026 toll income growth

IRB group said its toll income rose 25 percent year-on-year in May 2026. The update covers IRB Infrastructure Developers and its InvIT entities, IRB Infrastructure Trust and IRB InvIT Fund.

While the text does not provide absolute toll collection numbers, the year-on-year growth figure may be tracked as a monthly operating indicator for road assets.

Key facts at a glance

Market impact: what traders may watch at the open

NLC India’s OFS details are likely to drive price discovery because the floor price of ₹303 is below the previous close of ₹336. The opening schedule split between non-retail (June 9) and retail (June 10) can also affect intraday flows as investors assess demand and potential participation.

For Bharti Airtel and Vodafone Idea, the immediate trigger is the High Court order striking down the one-time spectrum charge. The market is likely to keep a close eye on subsequent legal developments given the mention that the dispute is still pending in the Supreme Court.

Grasim’s ₹3,094 crore capex commitment, RVNL’s ₹221.33 crore order and SpiceJet’s aircraft induction plan add to stock-specific action items for the day, particularly for investors tracking execution timelines and operational updates.

Why these updates matter

Across sectors, Tuesday’s watchlist is driven by three kinds of catalysts: government actions (NLC India OFS), judicial developments (telco spectrum charge ruling), and company-led operating or investment moves (Grasim capex, RVNL order win, SpiceJet fleet plan, HCLTech’s AI initiative).

These events can lead to sharper-than-usual moves around the opening bell as the market reprices near-term risk, adjusts for corporate actions, and digests new disclosures.

Closing note

The session begins with a clear set of triggers that could dominate early trade: the NLC India OFS pricing and timeline, the Bombay High Court’s decision affecting telcos, and Grasim’s multi-year Lyocell capacity expansion schedule. Investors will also monitor how RVNL’s new rail order and SpiceJet’s fleet update translate into trading interest through the day.