The American government’s development finance institution has approved investing up to $425 million in TP Solar, a subsidiary of Tata Power Renewable Energy (TPREL), for the Indian firm’s greenfield solar cell plant in Tirunelveli district of Tamil Nadu.

The 4.3 gigawatt (GW) plant’s first module production is expected by this year’s end. TPREL is a subsidiary of Tata Power, one of India’s largest integrated power companies.

Shares of Larsen & Toubro (L&T) rallied 4 per cent on the BSE to scale a fresh high of Rs 2,998 in Tuesday’s intra-day trade after the company revised its buyback price upwards from Rs 3,000 to Rs 3,200 per share.

At the same time, maximum no of shares to be bought back has been reduced to about 31.2 million shares from about 33.3 million shares earlier. The revised buyback represents 2.22 per cent of the paid up equity share capital of the company.

Elon Musk's Starlink may get a nod to start its service in India from the telecom ministry, The Times of India (TOI) reported on Tuesday. The satellite company has been stuck with the home ministry over security reasons for months now.

The ministry is expected to hold a meeting later this month to discuss the proposal of Starlink for a global mobile personal communication by satellite (GMPCS) services license, and it is likely to be passed, a source was quoted as saying in the report. However, some last-minute hiccups cannot be ruled out.

Private equity firm KKR is set to invest an additional Rs 2,069.5 crore in Reliance Retail Ventures (RRVL) through an affiliate, securing a 0.25 per cent stake on a fully diluted basis.

This investment places RRVL’s pre-money equity value at Rs 8.36 trillion, positioning it among the top four companies in the country by equity value, said the company in its release.

The United Kingdom has received the first confirmation from India that it would explore the London Stock Exchange (LSE) for overseas direct listing of Indian companies, British Chancellor of the Exchequer Jeremy Hunt said on Monday.

“We are particularly pleased to have made a big step forward with the first confirmation by India that it will explore the London Stock Exchange as an international destination for the direct listing of Indian companies,” Hunt said while addressing media persons in a joint briefing with his Indian counterpart Nirmala Sitharaman after the 12th India-UK Economic and Financial Dialogue.

Delhi experienced humid conditions with a minimum temperature of 23.5°C, two notches below average. Relative humidity stood at 90 per cent at 8:30 am on Monday morning.

Rain and cool winds in Delhi brought down the temperature by five notches, with a high of 28.3°C on Sunday. At 10 am Delhi's air quality index (AQI) stood at 45. Rain and cool winds on the previous day had lowered the temperature and significantly improved the air quality, registering the best air quality of the year, with an AQI of 45, in the 'good' category.

Shares of Gautam Adani group companies were in focus and rallied up to 10 per cent on the BSE in Monday’s intra-day trade amid heavy volumes.

Adani Power, Adani Ports and Special Economic Zone (SEZ) and New Delhi Television (NDTV) rallied between 7 per cent and 10 per cent. Adani Enterprises, Adani Energy Solutions, Adani Total Gas, Adani Wilmar, Ambuja Cements and ACC were up in the range of 2 per cent to 4 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.53 per cent at 66,949 at 12:16 PM.

Rishabh Instruments made a lackluster debut on the BSE and on the National Stock Exchange (NSE) on Monday, with the shares of the company getting listed at Rs 460, a 4 per cent premium over its issue price of Rs 441 per share.

Post listing, the stock fell below its issue price to Rs 432.25 on the BSE and to Rs 432.35 on the NSE. At 10:05 AM, Rishabh Instruments was quoting at Rs 462.80, 1 per cent higher over its issue price. A combined 3.9 million equity shares have thud far changed hands on the NSE and BSE.

Telugu Desam Party (TDP) chief N Chandrababu Naidu reached Rajamundry central jail in the early hours of Monday after being remanded to judicial custody in a corruption case.

According to the police, the former CM has been allotted an upper block in Sneha Wing of the jail to reside until further procedure alongside prisoner number 7691.

India will offer Russia options to invest the billions in rupees it has accumulated for exports, Foreign Minister Sergei Lavrov said Sunday in New Delhi.

“Our Indian friends said they would propose promising areas they can be invested in,” Lavrov told reporters, citing talks with Indian counterpart Subrahmanyam Jaishankar in Jakarta, Indonesia, on the sidelines of the East Asia summit prior to his arrival to India.

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