Adani Enterprises Ltd. is exploring selling its stake in its Mumbai-listed consumer-staple joint venture with Wilmar International Ltd., freeing up capital for their core business, according to people familiar with the matter.

The conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar Ltd. for a few months, the people said, asking not to be identified as the information is confidential. Adani’s shares are worth about $2.7 billion at the current share price, according to Bloomberg calculations.

Pepperfry Co-founder and Chief Executive Officer Ambareesh Vedantam Murty passed away in Leh on Monday night after a cardiac arrest.

Ashish Shah, co-founder of the omnichannel furniture retailer, tweeted: "Extremely devastated to inform that my friend, mentor, brother, soulmate @AmbareeshMurty is no more. Lost him yesterday night to a cardiac arrest at Leh. Please pray for him and for strength to his family and near ones."

Rajasthan's Chief Minister Ashok Gehlot criticised Prime Minister Narendra Modi during a public event in Jaipur on Monday, accusing him of holding the mistaken belief that he is only the leader of the Bharatiya Janata Party (BJP) and the Hindu community. Gehlot also took a dig at Modi's attire, positioning himself as a more humble figure. He even hinted at being the natural choice for his party's next chief minister, stating that although he's contemplated leaving the position, the role seems to stick with him, according to a PTI report.

YouTube, one of the largest video streaming platforms, has enabled high-quality 1080p viewing experience on its web interface for its premium subscribers, according to a report by TechCrunch. This comes months after the enhanced bitrate option was made available for premium members on mobile devices. The platform had initially rolled this out as an experiment in February before launching it for iOS users in April.

According to YouTube's blogpost on this new update in April, this new feature allows users to experience an "even deeper visual quality".

The Board of Control for Cricket in India (BCCI) has decreased the base price of title sponsor rights for international cricket matches played in the country to Rs 2.4 crore per match from the Rs 3.8 crore that sponsors had paid in the last cycle, according to a report by The Economic Times (ET). Paytm and MasterCard paid Rs 3.8 crore per match for the international matches played in the country between 2019 and 2023.

This is the second time BCCI has slashed the base price of the title sponsor rights amid weak demand for expensive cricket properties and tepid response from new-age firms.

Shares of Gland Pharma were locked in the 20 per cent upper circuit at Rs 1,612.60 on the BSE in Tuesday’s intra-day trade after the company reported improved financial performance for the June quarter (Q1).

The firm's gross profit margin was up 700 bp year-on-year (YoY) to 63 per cent for Q1 due to lower raw material costs. On a sequential basis, gross profit margin improved by 900 bp from 54 per cent.

E-commerce platform Meesho on Monday announced that it achieved profitability in July at the consolidated profit after tax (PAT) level, on the back of an uptick in order volumes and revenue, and cost cuts.

“As the first horizontal e-commerce platform in India to achieve profitability, we remain committed to sustainable growth, democratising e-commerce for all, and unlocking the true potential of India’s heartland,” said Vidit Aatrey, chief executive officer and founder of Meesho.

Price Waterhouse Chartered Accountants (PwC India) has resigned as the auditor of Paytm Payments Services, the fintech major said in a regulatory filing on Monday.

“...we wish to inform you that M/s. Price Waterhouse Chartered Accountants LLP … statutory auditors of material subsidiary i.e. Paytm Payments Services Limited (PPSL) have resigned with effect from August 7, 2023,” the company added.

In a meeting held last month, the Indian Banking Association (IBA) gave its nod to the industry's demand for five days of banking, The Hindu BusinessLine (BL) reported on Monday, citing sources. The proposal has now been sent to the finance ministry for its final approval.

"The matter has now been escalated to the finance ministry for final sign off," multiple senior executives of banks aware of the development were quoted as saying by BL.

The Lok Sabha on Monday restored the membership of Congress leader Rahul Gandhi. The Lok Sabha Secretariat issued a notification announcing that his disqualification has been revoked and his membership restored.

Gandhi was disqualified as a Lok Sabha member on March 23 after a Gujarat court convicted him in a defamation case and sentenced him to two years in jail.

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