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Reliance Commercial owes creditors ₹9,017 crore. Authum has offered ₹2,207 crore - a 75% haircut for secured creditors - largely funded by internal cash reserves accumulated in the debtor and also some cash payment by Authum.

Last week, Singtel sold 1.76% in Airtel through block deals for a little over ₹7,100 crore. Bulk of that stake - around 1.62% - was acquired by BTL for ₹6,604 crore, while the balance (0.14%) was acquired by public shareholders in Airtel. BTL is now raising fresh debt to part-finance the remaining 1.57% stake buy from Singtel.

At least three top lenders - Axis Bank, HSBC and State Bank of India (SBI) - are likely to extend the loan, which could be raised in the Gujarat GIFT City.

There is money coming into India because we are seen among the very few stable and growing markets in the middle of a lot of uncertainty worldwide," said Siddarth Bhamre, research head at Religare Broking. "That also explains the premium valuations that Indian stocks have been commanding.

The valuation of India’s largest online pharmacy, which has grown aggressively through VC money and 11 acquisitions so far, has dropped and could be at almost half its October 2021 pre-IPO valuation.

Crude prices on both sides of the Atlantic have surged more than 15% this year due to uncertainties stemming from the Russia-Ukraine conflict. Energy costs have also soared with Moscow slashing gas supplies to Europe amid Western sanctions imposed over its invasion of its neighbour.

U.S. inflation data is due at 1230 GMT and the consensus is for the core inflation rate last month to have risen 0.3% month-on-month, the same as in July. Recent dollar gains have slowed on market expectations that peaking inflation will mean less aggressive interest rate hikes from the Federal Reserve.

The shift in expectations for the larger hike has pushed the dollar to a two-decade high against a basket of currencies. The U.S. currency was forecast to extend its dominance for the remainder of this year and into early next.

Bajaj Finance shall trade ex-bonus as well as ex-split in trade today. The NBFC company announced bonus share issuance in the ratio of 1:1 i.e. 1 share for every 1 share held by the investor. Likewise, the company announced the stock split from an earlier face value of Rs 5 to its new face value of Re 1.

Stocks that were in focus included names like Navin Fluorine which closed with gains of more than 6 per cent, Hindustan Aeronautics closed with gains of over 7 per cent, and Lemon Tree hit a fresh 52-week high closed with gains of over 2 per cent on Monday.