Indian equity markets ended a choppy session on Friday, August 21, largely unchanged as investors held on to Thursday’s recovery but lacked conviction to drive the benchmark indices higher. The NSE Nifty50 closed at 24,252, up 20 points, or 0.08%.

From a technical perspective, the index remained within the 20-day and 50-day exponential moving averages (EMAs) on the daily chart. The Relative Strength Index (RSI) continues to show a bearish crossover, suggesting that momentum remains subdued. Analysts expect the market to remain sideways to mildly positive in the near term. On the downside, 24,200 remains an important support level; a break below it could drag the Nifty towards 24,000. On the upside, 24,350 is the immediate resistance, above which the index could move towards 24,500.

Against this backdrop, shares of Reliance Industries, Bank of Baroda, Power Grid Corporation of India, NATCO Pharma, JSW Infrastructure and several other companies are likely to remain in focus in Monday’s trade following key corporate developments.

Mukesh Ambani-led Reliance Industries said shareholders approved three resolutions with the requisite majority on August 20.

The resolutions include proposals relating to material related-party transactions involving RIL and its subsidiaries. Shareholders also approved an expansion of the company’s objects clause to include the production, processing, sale and distribution of ammonium nitrate, explosives, blasting agents, fertilisers and agro-chemicals.

Bank of Baroda has completed the issuance of an additional $400 million of senior unsecured Reg-S fixed-rate notes.

The notes carry an all-in yield of 5.389% per annum and an original coupon of 5.318%, payable semi-annually. The securities have an original maturity of five years and are being issued as a tap of the bank’s existing fixed-rate notes due August 20, 2031.

The bonds will be issued through Bank of Baroda’s IFSC Banking Unit in GIFT City on August 27 and will be listed on the Singapore Stock Exchange, India INX GIFT City and NSE IX.

Power Grid Corporation of India

State-owned Power Grid Corporation of India has been declared the successful bidder under the Tariff Based Competitive Bidding (TBCB) process to establish an inter-state transmission system for renewable energy projects in Gujarat. The discovered tariff for the project stands at ₹822.91 crore per annum.

Jubilant Pharmova said the US Food and Drug Administration has approved commercial batch manufacturing of the first product on Line 3, a new isolator-based fill-and-finish line at its Spokane, Washington facility.

The facility is operated by Jubilant HollisterStier LLC, a subsidiary of Jubilant Pharma Ltd, which is a wholly owned subsidiary of Jubilant Pharmova.

NATCO Pharma said the US FDA issued a Form 483 with four observations following an inspection of its finished dosage formulations (FDF) facility in Hyderabad.

The inspection was conducted between August 17 and August 21, 2026.

JSW Infrastructure has entered into a share purchase agreement with JSW Terminal (Middle East) FZE and JSW Overseas FZE to acquire 100% of the share capital of JSW Overseas from JSW Terminal.

The transaction is subject to receipt of the necessary approvals from the relevant authorities in India and the UAE.

Upon completion, JSW Overseas, currently a step-down wholly owned subsidiary of JSW Infrastructure, will become a direct wholly owned subsidiary of the company.

Caplin Point Laboratories said the US FDA issued a Form 483 containing 10 observations following an unannounced inspection at one of its manufacturing units.

The inspection was conducted from August 13 to August 21, 2026.

Kaynes Technology India and BOSGAME have signed a strategic memorandum of understanding aimed at establishing and expanding BOSGAME’s presence in the Indian market.

The partnership will combine BOSGAME’s product innovation and intelligent computing portfolio with Kaynes Technology’s capabilities across electronics design, engineering, integrated manufacturing, testing, supply-chain management and lifecycle support.

Choksi Laboratories said the US FDA concluded an inspection of its central laboratory in Indore, Madhya Pradesh.

The inspection, conducted between August 17 and August 20, resulted in four observations.

Diamond Power Infrastructure has received a letter of intent/order worth ₹52.86 crore, including GST, from Aurionpro Solutions for the supply of high-tension and low-tension electrical cables to a hyperscale data centre campus in Hyderabad.

Apollo Micro Systems said the manager to the open offer has received a letter from the Securities and Exchange Board of India (SEBI) regarding the company’s proposed open offer to acquire up to 1.40 crore fully paid-up equity shares of Premier Explosives.

Read more: F&O Talk: Nifty to consolidate further, says Sudeep Shah; picks 3 stocks for next week

Escorts Kubota said the Assistant Commissioner of GST, Chennai (South), Tamil Nadu, has passed an order under Section 73 of the GST Act for FY23. The order confirms a tax demand of ₹2.44 crore, along with interest of ₹1.71 crore and a penalty of ₹24.45 lakh, in connection with input tax credit reconciliation.

The company said it intends to file an appeal before the appellate authority.

Kerala-based private sector lender Federal Bank said its board has approved a proposal to raise up to $500 million through the issuance of foreign currency-denominated bonds.

The fundraising will be undertaken through the bank’s IFSC Banking Unit in GIFT City.

Indian Renewable Energy Development Agency (IREDA)

IREDA has fixed September 11, 2026 as the record date for determining shareholders’ eligibility for the proposed final dividend of ₹0.75 per equity share for FY26.

The dividend, equivalent to 7.5% of the ₹10 face value of each share, remains subject to approval by shareholders at the company’s upcoming annual general meeting. If approved, the dividend will be paid within 30 days of shareholder approval, after deduction of applicable tax at source.

Mobile and electronics manufacturing stocks

Shares of Dixon Technologies, Optiemus Infracom, Kaynes Technology, Syrma SGS Technology, Avalon Technologies and Cyient DLM could also remain in focus after the government notified the Mobile Phone Manufacturing Scheme 2.0. The scheme is expected to support the domestic mobile phone manufacturing ecosystem, potentially keeping electronics manufacturing services (EMS) stocks on investors’ radar.