Stocks to Watch: Reliance Industries, ICICI Bank, NTPC, CG Power, and more

Reliance Industries: Investors are set to keep a close watch on Reliance Industries’ 48th Annual General Meeting (AGM) scheduled for August 29, where Chairman Mukesh Ambani will address nearly 44 lakh shareholders. Market participants expect key updates across digital services, retail, new energy, and oil & gas, along with the possibility of value-unlocking announcements.

ICICI Bank: The lender announced that its Board has approved the early retirement request of Subir Saha, Group Chief Compliance Officer (GCCO), effective August 28. Anish Madhavan, a senior management personnel already with the bank, will take over as GCCO from August 29.

Muthoot Finance: The company said it has infused ₹499.99 crore into its subsidiary, Muthoot Money, through the allotment of 3.25 lakh equity shares. The funds will be used to strengthen the subsidiary’s capital base, enhance its capital adequacy ratio, and meet requirements for expansion, corporate purposes, and debt repayment.

NTPC: The power major has approved a partial modification in the planned transfer of its coal mining operations to subsidiary NTPC Mining Ltd (NML). The mining business, which generated ₹7,735.54 crore in revenue during FY25, will now be transferred under an amended Business Transfer Agreement (BTA) by September 30, 2025. The consideration amounting to ₹10,503.27 crore will be paid in phases.

CG Power: Subsidiary CG Semi has launched its first Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat, making it one of the country’s first full-service semiconductor assembly and testing providers. Supported by government initiatives and backed by technology partners Renesas and Stars Microelectronics, the company plans to invest ₹7,600 crore over the next five years to set up two advanced manufacturing units.

Hexaware Technologies: The IT services company announced a strategic tie-up with Replit, a leading platform for agentic software creation. The collaboration aims to transform enterprise software development by enabling secure and governed Vibe Coding capabilities.

Jio Financial Services: At its Annual General Meeting held on August 28, Managing Director and CEO Hitesh Sethia disclosed that the company’s NBFC loan book had surged to ₹11,665 crore in Q1FY26, a sharp rise from just ₹217 crore a year ago. He added that value-added services and cross-selling opportunities within Reliance’s broader consumer ecosystem are expected to drive further business growth.

Shilpa Medicare: The company announced plans to form a new joint venture in Saudi Arabia in partnership with Pharma Pharmaceutical Industries and Biological Products (PPI). The venture will be set up via its wholly owned UAE-based subsidiary, Koanna International FZ LLC, which will hold a 30 percent stake. PPI will maintain the majority shareholding of 70 percent.

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