Hinduja group firm IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, announced on Monday its plans to raise $1.5 billion (about Rs. 12,300 crore) to increase its stake in the lender to 26 per cent from the current 15 per cent as well as fund its proposed acquisition of debt-laden Reliance Capital.

IIHL said in a statement that the strategic decision of its board “opens boundless opportunities” to expand its business horizon in India and other global geographies in the banking, financial services and insurance (BFSI) sector.

Telecom major Reliance Jio on Monday announced the launch of Jio Bharat, a device that will provide internet-enabled services on entry-level phones.

The internet-enabled phone has been priced at Rs 999. Jio is offering 30 per cent cheaper monthly plan and seven times more data compared to offers of other operators. Jio is offering a plan worth Rs 123 per month for unlimited voice calls and 14 GB data.

Uddhav Thackeray-led Shiv Sena leader Sanjay Raut on Monday reiterated his claim that Nationalist Congress Party leader Ajit Pawar who was sworn in as the deputy chief minister of Maharashtra a day ago would soon replace Chief Minister Eknath Shinde.

Raut also said that 16 MLAs who were part of the split in Shiv Sena almost a year ago are going to be "disqualified".

Bengaluru-based Tresa Motors on Monday unveiled its first electric commercial vehicle, the Model V0.1.

The Model V0.1 is based on the company’s Axial Flux Motor Platform: FLUX350. These motors are renowned for their compact size and light-weight nature.

Shares of Suzlon Energy (Suzlon) hit an over five-year high of Rs 16.86, as they rallied 10 per cent on the BSE in Monday’s intra-day trade amid heavy volumes. In past two trading days, the stock has surged 20 per cent after the brokerage firm ICICI Securities initiated the coverage on Suzlon with ‘Buy’ rating and a target price of Rs 22 per share.

Shares of Housing Development Finance Corporation (HDFC) and HDFC Bank gained up to 3 per cent on the BSE in Monday’s intra-day trade, extending their past three days' upward movement, after their respective Boards fixed July 13 as the record date for determining the shareholders of the Corporation who shall be issued and allotted the shares of HDFC Bank.

With the deal getting effective, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares they hold. Besides, July 13 has been fixed for the continuation of warrants of HDFC Limited in the name of HDFC Bank.

Marking a vertical split in the Nationalist Congress Party (NCP), its senior leader Ajit Pawar joined the Eknath Shinde-led Maharashtra government as deputy chief minister on Sunday.

The presence of NCP president Sharad Pawar and party's working president Supriya Sule at the Opposition meeting in Patna had irked Ajit Pawar and his supporters, sources said.

In order to visit Delhi University on Friday morning, Prime Minister Narendra Modi rode the metro from Lok Kalyan Marg Metro Station to Vishwa Vidyalaya Metro Station in the nation's capital. While travelling to the Delhi University centenary festivities, PM Modi can be spotted mingling with passengers on the Delhi Metro.

The PM is set to take part in Delhi University's centenary celebrations' valedictory ceremony.

Supported by the India-US tech agreements, Reliance Jio is planning to export its 'made-in-India' end-to-end 5G stack and radio, Financial Express (FE) has reported. Once operational, the export of the telecom stack will generate an additional source of income for the company.

India and the US have signed agreements that pave the way for the two countries to work together towards creating secure and trusted telecommunications and resilient supply chains.

Investigators have questioned one of Russia’s top generals about the failed mutiny that presented the greatest challenge to President Vladimir Putin’s quarter-century rule.

Sergei Surovikin was quizzed by military prosecutors over several days about his links to Wagner mercenary leader Yevgeny Prigozhin, according to a person with knowledge of the matter, who asked not to be identified because the information is sensitive.

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