The Adani group and Singapore’s Wilmar International are learnt to have approached several private equity (PE) firms to sell part of their stake in their consumer-staple joint venture, Adani Wilmar.

Top executives of some of these PE firms told Business Standard that the two partners, which own 44 per cent each in Adani Wilmar, have offered them a majority stake.

Ending two days of suspense, the Congress central leadership has named Telangana party chief A. Revanth Reddy as its choice of Chief Minister of the State. He will take the oath of office on December 7.

Mr. Reddy was named the leader of the Congress Legislature Party (CLP), and he will become the first Congress Chief Minister of Telangana, a State formed in 2014. Congress president Mallikarjun Kharge gave his stamp of approval on the basis of a report submitted by the party’s poll observers.

The price of 24-carat gold fell Rs 1,090 during early trade on Wednesday, with ten grams of the precious metal selling at Rs 63,110, according to the GoodReturns website. The price of silver crashed Rs 2,000, with one kilogram of the precious metal selling at Rs 78,500.

The price of 22-carat gold declined Rs 1,000, with the yellow metal selling at Rs 57,850.

Himadri Speciality Chemical on Wednesday announced that it will invest Rs 4,800 crore to foray into the manufacturing of Lithium-ion battery components. According to the announcement, the investment will be over the next 5-6 years.

The plant's total annual production capacity will be 200,000 MT either directly/ or through its subsidiaries. "This investment will be made largely from internal accruals and balance from debt," the company said.

India will become the world's third-largest economy by 2030, a report released by S&P Global Ratings said on Tuesday. In 2026-27, India's gross domestic product (GDP) is expected to grow 7 per cent. India is currently the fifth largest economy in the world behind the US, China, Germany and Japan.

In its "Global Credit Outlook 2024", S&P said that India would be the fastest-growing emerging market in the world. Still, its paramount test will be whether the country can become the next big global manufacturing hub.

India's central bank has told peer-to-peer lending platforms to halt certain activities after inspections found rule violations and misleading sales practices, four sources with direct knowledge of the matter said.

The Reserve Bank of India, also the country's banking regulator, conducted inspections of at least 10 lenders in the fast-growing sector between June and September, said the sources, all industry executives. They declined to be identified because discussions with the regulator are not public.

There’s a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido’s cab foray will be enabled by a software as a service (SaaS)-based platform. While BluSmart and InDrive are among the other names in the cab aggregator space, they are yet to have a pan-India reach.

Zoram People's Movement (ZPM), a six party alliance, is headed toward forming the government on it own in Mizoram. at 12 noon Election Commission trends showed the ZPM leading in 26 of the 40 seats. Among these ZPM has so far clinched 7 wins on Monday as the counting of votes proceeded further.

According to the Election Commission of India, the incumbent the Mizo National Front (MNF) is trailing with 11 seats.

Google has reportedly delayed the launch of its next-generation foundation model- Gemini until January. According to a report by 9To5Google, Google was originally going to launch Gemini this week, but that has now been delayed until January.

The report stated that Google CEO Sundar Pichai has decided to delay the launch after Google found that the AI didn't reliably handle some non-English queries.

Two IAF pilots lost their lives when an Indian Air Force trainer aircraft crashed in Medak district of Telangana on Monday morning.

An official statement from the IAF confirmed the crash of a Pilatus PC 7 Mk II trainer aircraft during a routine training sortie from AFA, Hyderabad.

Both pilots aboard the aircraft suffered fatal injuries, the statement said.

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