Persistent Systems has approved a major fundraising plan, allowing the company to raise up to $1.25 billion through long-term debt financing and other eligible instruments.

Inox Wind has received a significant boost after securing a 100 MW wind-energy project from Indian Oil Corporation.

ICICI Bank has increased its holding in ICICI Prudential Life Insurance, strengthening its position in the life insurance business.

Coal India has moved towards listing its subsidiary Mahanadi Coalfields through an IPO. The company plans to sell a 10% stake in the subsidiary, according to draft documents filed with the market regulator.

India Glycols has completed an important restructuring exercise, with its three-way demerger becoming effective from September 1. The business will now be separated into focused entities covering specialty chemicals, spirits and biofuels, and biopharma.

Sun Pharmaceutical Industries remained relatively resilient in an otherwise weak market after securing a favourable pricing agreement in the US, according to Reuters.

Mahindra Aerostructures has secured a new contract to manufacture components for the Airbus A320 aircraft programme. The order strengthens the company’s growing presence in the global aerospace manufacturing industry.

India’s banking system liquidity surplus has reportedly reached around Rs. 5 lakh cr., the highest level in more than four months. The increase in liquidity could provide additional support to banks and the broader financial system.

B2B e-commerce company Udaan has reportedly raised around $340 million as it strengthens its financial position ahead of future growth plans.

HDFC Bank is one of the biggest stocks in focus today after MD and CEO Sashidhar Jagdishan decided not to seek another term when his current tenure ends in October. The development has put succession planning at the centre of investor attention.