Indian benchmark indices are set for a positive start Monday, with GIFT Nifty futures up 0.29% at 24,378 as of [8.30A.M] IST, building on Friday’s choppy close where the Nifty50 ended at 24,252, up 20 points or 0.08%.
Nifty Bank is indicated 0.46% higher at 57,761.95, while Sensex futures were flat at 77,540.83.
Global cues are mixed: the Dow Jones closed 0.98% higher Friday and S&P 500 futures point 0.43% higher, but Nasdaq futures have slipped 0.12% and the US 10-year Treasury yield has risen 0.85% to 4.73% — a note of caution ahead of Nvidia’s earnings later this week.
In Asia, Hang Seng is down sharply, 2.12%, and Shanghai has slipped 0.7%, while Nikkei 225 is little changed. European futures lean positive, with FTSE 100 up 0.64% and CAC 40 up 0.37%.
WTI crude has eased 1.44% to $93.03 a barrel amid a US warning of fresh sanctions on Iran, while the Dollar Index is flat at 98.82 and the rupee is trading around 95.71 to the dollar.
Key Takeaways
- Reliance Industries shareholders approved a Memorandum of Association change to enter the ammonium nitrate, explosives and fertiliser business, with 99.21% votes in favour.
- Power Grid received a Letter of Intent for a ₹822.91-crore-a-year Gujarat transmission project and separately emerged lowest bidder for a Barmer HVDC scheme.
- Bank of Baroda raised an additional $400 million by tapping its existing 2031 dollar bond series, taking the total issue size to $700 million.
- NATCO Pharma received a four-observation Form 483 from the USFDA at its Visakhapatnam plant, alongside a sharp Q1 FY27 profit decline.
- Fitch affirmed JSW Infrastructure’s investment-grade BBB- rating even as the company faces a September 2026 deadline to raise public shareholding.
Reliance Industries: Shareholders Clear Entry Into Explosives, Fertilisers
Reliance Industries shareholders have approved an alteration to the company’s objects clause, clearing the way for RIL to manufacture and trade ammonia, nitric acid, ammonium nitrate, ammonium nitrate fuel oil (ANFO) and civilian, industrial and defence explosives, along with downstream fertiliser products such as urea ammonium nitrate and calcium ammonium nitrate.
The special resolution passed via postal ballot on August 20 with 99.21% of votes in favour; two related related-party-transaction resolutions cleared by the same margin.
RIL’s own postal ballot notice ties the move to rising domestic demand from mining and infrastructure activity, plus export potential from a planned Jamnagar-based facility. The change still needs Registrar of Companies approval before taking effect.
Check Live: Reliance Option Chain Live – RIL Options Data
Power Grid: Wins Gujarat Transmission Deal, Barmer Contract In the Pipeline
Power Grid Corporation has been declared successful bidder under Tariff Based Competitive Bidding for an inter-state transmission system integrating 6,500 MW of renewable power from Gujarat’s Jam Khambhaliya and Jamnagar zones, at a discovered tariff of ₹822.91 crore per annum.
The project includes a new GIS substation at Kalyanpur and 765 kV transmission lines across the state.
Separately, Power Grid emerged L1 in an e-reverse auction for the Barmer HVDC scheme on August 21, with a final winning quote of ₹3,244.325 crore, down from an initial bid of ₹3,760.686 crore; the formal Letter of Intent from bid coordinator RECPDCL was still awaited as of that date.
Also Check : POWER GRID CORPORATION OF INDIA Option Chain
Bank of Baroda: Taps Existing Bond Series for Additional $400 Million
Bank of Baroda has concluded the issuance of $400 million in senior unsecured Reg-S fixed-rate notes at an all-in yield of 5.389% and a coupon of 5.318% per annum, payable semi-annually.
Rather than a fresh raise, this is a tap of the bank’s existing $300 million note series due 2031, taking that series to $700 million in total. The notes will be issued through the bank’s GIFT City IFSC branch on August 27 and listed on the Singapore Exchange, India INX and NSE-IX.
Vodafone Idea: Vi Nears SBI Loan Backed By Promoter Guarantees
Vodafone Idea is close to securing capex funding from State Bank of India, after the telecom operator agreed to provide guarantees through its promoter companies, according to a report.
The financing would support Vi’s network expansion plans as the company continues to compete for subscribers against Reliance Jio and Bharti Airtel.
For live institutional flow data as the session progresses, NiftyTrader’s FII-DII Tracker updates through the day.
State Bank of India: Chairman Eyes ₹200 Lakh Crore Business By FY30
SBI’s total business could roughly double to around ₹200 trillion by 2030, the year the bank marks its platinum jubilee, if current growth trends hold, Chairman C S Setty said.
Pharma Watch: NATCO, Caplin Point Flag USFDA Observations
NATCO Pharma’s finished-dosage plant in Parawada, Visakhapatnam was issued a Form 483 with four observations following a USFDA inspection between August 17 and 21; the company called the findings procedural.
The disclosure lands alongside weak Q1 FY27 numbers, consolidated net profit fell 57.04% year-on-year to ₹206.50 crore on a 44.68% revenue decline to ₹735.20 crore.
Separately, Caplin Point Laboratories’ injectable and ophthalmic unit in Gummidipoondi received a 10-observation Form 483 after an unannounced inspection; the company said none of the observations were repeat findings or data-integrity related.
JSW Infrastructure: Fitch Affirms Investment-Grade Rating
Fitch Ratings has affirmed JSW Infrastructure’s BBB- issuer rating and its $400 million notes due 2029, with a Stable Outlook, a year after first upgrading the port operator to investment grade.
The affirmation comes as JSW Infra faces a September 2026 regulatory deadline to lift public shareholding to 25%; rating agencies have flagged a potential equity issuance as credit-positive for the company.
Meesho, Lenskart: Early Investors Line Up Block Deals
Y Combinator is likely to sell up to a 1.05% stake in Meesho via block deal at a floor price of ₹197.5 a share, sized at roughly ₹957.5 crore, per media reports citing sources.
SoftBank Vision Fund II is separately expected to offload up to 2.6% of Lenskart Solutions through block deals worth about $300 million at a floor price of ₹635 a share.
Bottom Line
Monday’s action will hinge on how the market digests two parallel threads, Power Grid and Bank of Baroda both signalling confidence in raising fresh capital even as pharma names navigate a fresh round of USFDA scrutiny.
With Nvidia’s earnings due later this week and Iran sanctions risk still unresolved, global cues could outweigh domestic stock-specific triggers by midweek.
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Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers are advised to consult a qualified financial advisor before making investment decisions.
