The Indian stock market's benchmark indices closed largely flat on Friday, August 21, with Nifty 50 gaining 0.08% to settle at 24,252 and Sensex ending marginally higher at 77,540.83, up 3.11 points. According to Dalal Street Investment Journal, the Nifty 50 opened at 24,284.05 and moved in a narrow range during the session, touching an intraday high of 24,284.05 before slipping to a low of 24,206.80. The cautious sentiment persisted amid elevated crude oil prices and pressure in global bond markets, with buying at lower levels providing some support but keeping the market in consolidation mode.
Power Grid Corporation of India Ltd has emerged as the successful bidder for an inter-state transmission system project in Gujarat under the Tariff Based Competitive Bidding process. The project, titled "Transmission system for Integration of Power from RE Projects in Jam Khambhaliya REZ in Gujarat - Phase II (5,500 MW) and Jamnagar Phase-I (1,000 MW)", will be developed on a Build, Own, Operate and Transfer (BOOT) basis. The company received the Letter of Intent (LoI) on August 21, 2026, with the discovered tariff standing at ₹822.91 crore per annum. Under the project, Power Grid will establish a new GIS substation at Kalyanpur in Gujarat, undertake ICT augmentation and bay extension works at substations currently under construction, and construct 765 kV transmission lines across Gujarat.
Highway Infrastructure Ltd has entered into a Contract Agreement for the operation of the Palayam Fee Plaza in Tamil Nadu. The development follows the company's earlier announcement on August 17, 2026, regarding the receipt of the Letter of Award (LoA) for the project. The contract covers the operation of the Palayam Fee Plaza at Km 154+500 of the NH-44 on the Krishnagiri to Thumbipadi section, spanning from Km 94+000 to Km 180+000. The project will be executed on a Build, Operate and Transfer (BOT) basis in Tamil Nadu, with Highway Infrastructure announcing that it entered into the Contract Agreement on August 21, 2026, marking the next step in the execution of the project.
Innovision Ltd has secured a user fee collection contract from the National Highways Authority of India (NHAI) for the operation of user fee collection at Etaura Bujurg fee plaza and Akhtiyari Kotila fee plaza in Uttar Pradesh. The contract was awarded through competitive bidding via an e-tender process and covers user fee collection for the two-lane road with paved shoulders on the Raebareilly-Allahabad section in Uttar Pradesh. The scope includes the upkeep and maintenance of adjacent toilet blocks, including replenishment of consumable items, with the commercial consideration of the contract standing at ₹51.54 crore, according to the company's exchange filing.
The Indian stock market's benchmark indices are positioned for a positive start to the week, with GIFT Nifty futures trading 92 points or 0.38% higher at 24,378 as of 7:48 AM. According to reports from Business Standard, this optimistic outlook comes amid oil price retracement, with Brent crude futures down 1.29% at $93.17 and US West Texas Intermediate crude lower by 1.38% at $85.86. The positive sentiment is attributed to US warnings of fresh sanctions on Iran, which has helped ease oil prices by approximately $1. Asian markets showed mixed performance with Japan's Nikkei 225 down 0.15% and South Korea's Kospi shedding 2.35%, while Australia's S&P/ASX 200 rose 0.75%. US markets closed higher on Friday with the Dow Jones Industrial Average rising 0.98%, S&P 500 gaining 0.43%, and Nasdaq Composite adding 0.44%.
