Mundra PVC project crosses 60% spend milestone
Adani Enterprises said its ₹26,000-crore Mundra PVC project crossed 60% construction and spending, with ₹16,133 crore invested and first-phase commissioning targeted for FY28. OI Charts data showed recent share weakness and long unwinding in futures.
after close1 source ↓machine-written, see hownot a recommendation
- ADANIENT close
- ₹2,480
- On the day
- -0.41%
- Futures OI, long unwinding
- -0.3%
- Put-call ratio
- 0.80
- Max pain
- ₹2,550
Adani Enterprises Ltd said its ₹26,000-crore polyvinyl chloride plant at Mundra, Gujarat, had crossed the 60% mark in construction and project expenditure by 29 Oct 2026. The company has spent ₹16,133 crore so far, equal to about 62% of the planned investment, on the one-million-tonne-capacity facility. The first phase remains on track for commissioning in FY28. 🏭
The project is a major chemicals and manufacturing expansion, but it has not yet contributed operating output because commissioning is still ahead. The cumulative spending includes ₹3,895 crore in FY25, ₹7,979 crore in FY26 and ₹4,319 crore in the first half of FY27. Crossing the construction milestone reduces one execution uncertainty, while the size of the remaining investment keeps funding, construction completion and commissioning timelines important for the stock.
OI Charts data showed the shares closed at ₹2,480 on 28 Oct, down 0.41% on the day, with volume of 1,863,288 shares. The stock had declined 7.9% over five sessions and 14.5% over 20 sessions, while its 52-week range stood at ₹1,753 to ₹3,245. The derivatives setup showed long unwinding, with futures open interest down 0.3% to 17,503,614 shares and the futures premium at 0.51%. 📉
For the 23 Nov 2026 expiry, the put-call ratio was 0.8 and max pain was ₹2,550. Both the largest call and put open-interest concentrations were at ₹2,500, making that strike the key near-term positioning zone. The current derivatives read indicates that the market is tracking the project milestone against a weak recent price trend rather than treating the construction update as an immediate earnings catalyst.
The next material checkpoints are progress on the first phase, the final commissioning schedule for FY28 and the pace of further capital deployment. Completion and ramp-up would determine when the planned capacity starts affecting the company’s chemicals portfolio and the domestic PVC supply chain. ⚗️
Source: Urban Acres, 29 Oct 2026
Not investment advice. For informational purposes only.