The family of IndiGo co-founder Rakesh Gangwal is likely to sell shares worth Rs 3,730 crore through a block deal on Wednesday, according to a term sheet. This is part of Gangwal’s plan to bring down his family's stake in the company.

The offer floor price for the deal is Rs 2,400 per share, which is a 5.8 per cent discount to the company’s last closing price of Rs 2,549 per share. The Gangwal family has put up 15.6 million shares for sale, representing approximately 4 per cent of its existing outstanding shares in the company.

Information technology major Infosys and Liberty Global, a London-based telecom firm, signed a €1.5 billion (about $1.64 billion) deal for five years to evolve and scale up the telco's digital entertainment and connectivity platforms, the companies said in a joint statement on Tuesday.

As part of the expanded collaboration agreement, the size of the contract will touch €2.3 billion (about $2.5 billion) if extended to 8 years.

Larsen & Toubro (L&T) Construction on Monday announced that its buildings and factories (B&F) business has secured significant orders in the range of Rs 1,000 to 2,500 crore in India and Bangladesh.

The B&F Business has secured an order from the Uttar Pradesh Cricket Association (UPCA) for the “construction of a cricket stadium at Varanasi, Uttar Pradesh” on design and build turnkey basis, the company said in its press release.

Reliance Jio seems to be ready with its next generation low budget 5G smartphones. Indicating a forthcoming announcement, two Jio smartphones have received certifications from Bureau of Indian Standards (BIS). The BIS certification confirms compliance with the country’s safety and quality standards.

According to news reports, the stamp of approval by BIS was granted on Friday (August 11) to devices bearing model numbers JBV161W1 and JBV162W1. The new Jio phones would likely feature 4GB RAM and 32GB internal storage. These are likely to be powered by Qualcomm Snapdragon 480 system-on-a-chip (SoC).

Shares of Adani group stocks fell on Monday after Deloitte resigned as auditor of the Adani group's port company.

Deloitte has resigned as auditor of the Adani group's port company, with the firm run by billionaire Gautam Adani saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a US short seller.

Centre is likely to disburse Rs 600 crore to Samsung under the Production-linked Incentive (PLI) scheme for mobile phone manufacturing, Mint reported on Monday. This would be the largest payout ever under the scheme.

Samsung had claimed incentives of about Rs 900 crore for generating revenues of about Rs 15,000 crore from smartphone sales in 2020-21, the first year of the PLI scheme. It was the only company to meet the threshold of minimum investment of Rs 250 crore in India.

Badrinath National Highway in Pipalkoti area in Uttarakhand's Chamoli district has been blocked due to debris triggered by a landslide, following intermittent rainfall. Several vehicles have also been buried under the debris.

Chamoli District Magistrate, Himanshu Khurana told ANI that "Due to heavy debris falling from the mountain in Pipalkoti, many vehicles were buried under the debris and the roads have been closed."

Shiv Sena (Uddhav Balasaheb Thackeray faction) leader Sanjay Raut on Sunday asserted that if Congress leader Priyanka Gandhi contests the upcoming Lok Sabha election from Varanasi, the constituency against Prime Minister Narendra Modi then she will win for sure.

"Varanasi people want Priyanka Gandhi. If Priyanka Gandhi contests from Varanasi against PM Narendra Modi then she will win for sure. Varanasi people want Priyanka Gandhi. The fight for Raebareli, Varanasi, and Amethi is tough for the BJP," Raut said.

In order to push retail loans, public sector lender Bank of Maharashtra (BoM), on Saturday, cut the lending rate for home loans and car loans by upto 20 basis points. The revised rates would come into effect from August 14, 2023.

In contrast, it has hiked its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points in select tenors upto one year.

Rescue and clean-up crews are now pouring into the historic Hawaiian town of Lahaina, which has been levelled to ash and rubble in what the governor describes as the state’s largest-ever natural disaster.

Fast-moving wildfires killed at least 55, and the police chief said it’s likely 1,000 people remain unaccounted for. Hawaii Governor Josh Green warned that the death toll is probably going to keep rising as search crews dig through the damage that characterised characterised as looking like a bomb scene.

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