Vodafone Idea shares surged 8.60% to ₹15.28 from the previous close of ₹14.07, reaching an intraday high of ₹15.31 after reports of progress on a larger debt package. As per IIFL Capital Services, the stock opened at ₹14.09 with improving visibility on funding, as State Bank of India may be ready to sanction its portion of the proposed facility once other public-sector lenders sign off. Six to seven PSU banks are in discussions with the company on a broader package, with the core reason being the possibility that a long-discussed funding plan may finally be moving closer to execution. The company is seeking a proposed borrowing plan of about ₹45,000 crore to support its financial position and fund network expansion.
The offer for sale (OFS) by Hindustan Copper will open for retail investors today following an overwhelming demand seen on the first day. According to reports from Business Standard, institutional investors oversubscribed the share sale by 3.41 times as they put in bids worth over ₹4,600 crore. DIPAM Secretary confirmed that the government has decided to exercise the entire green shoe option, while retail investors and employees will be eligible to bid in the OFS on August 26. This strong institutional interest indicates significant market confidence in the copper mining company's offering.
Varun Beverages' board of directors approved plans to enter the ready-to-drink alcoholic beverage (alcobev) and allied product categories on Tuesday. As reported by Business Standard, the company will set up a wholly owned subsidiary in India named Kiva Spirits and Company and has appointed former Diageo executive Prathmesh Mishra as CEO. This strategic expansion into the premium alcoholic beverages segment represents a significant diversification move for the beverage company.
Asian stocks eked out minor gains with Japan's Nikkei 225 up 0.30 per cent and South Korea's Kospi higher by 0.77 per cent. According to Business Standard, oil prices dropped about 2 per cent, extending the slide seen in the previous session, amid hopes the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman. Brent crude futures fell 2 per cent to $86.80 a barrel, and the US WTI contracts were down 1.8 per cent at $80.87.
IDFC First Bank priced a $350 million five-year senior notes issue, its second overseas bond issuance in a week, as reported by Business Standard. The notes issued through the bank's IFSC Banking Unit carry a coupon of 5.80 per cent and will mature on August 28, 2031. Welspun Corp promoter group along with MD and CEO Vipul Mathur could offload stake via block deals with an expected deal size of ₹1,417 crore at a floor price of ₹2,250 apiece. Vodafone Idea has already raised ₹6,400 crore, including ₹1,183 crore through promoter warrant proceeds, with the balance from foreign lenders and private Indian banks, as per IIFL Capital Services.
HEG Limited's board approved September 1, 2026 as the effective date for its demerger with September 7, 2026 as the record date for shareholder entitlement. According to Business Standard, Ravi Jhunjhunwala will continue to lead HEG Graphite as Chairman, MD & CEO. Cipla received seven inspectional observations from the USFDA after a follow-up cGMP inspection at its Pithampur facility from August 17-25, 2026. Sai Parenterals' contracted OTC medicines supply business in Australia has reached AU$232 million (about ₹1,506 crore) after its Australian subsidiary Noumed Pharmaceuticals renewed a three-year supply agreement worth AU$30 million (about ₹204 crore) with a pharmacy chain.
