Adani Enterprises surpassed the state-owned insurance giant Life Insurance Corporation of India (LIC) and fast moving consumer goods (FMCG) company ITC to become most valuable stock in terms of market capitalisation (market cap) after a strong rally in the Gautam Adani's Group company.

At 09:30 am, with a market cap of Rs 4.31 trillion, Adani Enterprises stood at the 12th position in the overall market cap ranking, the BSE data shows.

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Thursday said that India is on the path to becoming a 10 trillion-dollar economy in 2030 and the third largest economy in the world by 2047.

Puri addressed the 25th Energy Technology Meet, organized by the Centre for High Technology (CHT), under the aegis of the Ministry of Petroleum and Natural Gas (MoP and NG), Government of India, in association with Hindustan Petroleum Corporation Ltd in Mumbai on Thursday.

Telecom Minister Ashwini Vaishnaw on Thursday said Odisha will get 5G service along with other cities in the first phase of its launch.

Odisha will have access to 5G telecom service in the very first phase. It will provide users 10 times the speed of 4G, he said on the sidelines of a programme here.

Maruti Suzuki is aiming to export vehicles and components worth up to Rs 20,000 crore in the next three years. The company is planning to leverage the global resources of its Japanese parent — Suzuki Motors — and its partner, Toyota Motor, to increase its overseas shipments, said a report in the Economic Times. Maruti's exports accounted for nearly 40 per cent of the total exports from India.

According to the report, for Toyota and Suzuki, India is likely to become a key sourcing hub for not just vehicles, but also for components like lithium-ion cells for electric vehicles.

SpiceJet on Thursday announced the reintroduction of 'SpiceLock', a unique service that allows passengers to lock their desired fare for 48 hours without name, thus allowing passengers to plan their journey without worrying about fares getting expensive, availability of seats or finalising co-passengers.

The fare locking service enables customers to reserve bookings so that the selected flight doesn't sell out and the fare doesn't go up while they finalise their travel plans.

To boost its growth and expansion, Reliance Retail has reportedly sought shareholders' approval to increase its borrowing limit from Rs 50,000 crore to Rs 1 trillion. According to a report by Economic Times (ET), the company borrowed Rs 40,000 crore in FY22.

According to the company's annual reports, the company will seek shareholders' approval in the September 30 Annual General Meeting (AGM), ET reported.

Tata Sons will raise $500 million in offshore borrowings, backed by Bank of America, SMBC of Japan and Standard Chartered Bank as the company rolls over debt used to fund Tata Teleservices several years ago, reported The Economic Times on Thursday, quoting people familiar with the matter.

The loan deal, the tenure of which is likely to be five years, is expected to be finalished in the coming weeks. It will likely be priced 110-120 basis points above the Secured Overnight Financing Rate (SOFR), reported ET.

YES Bank will wipe out Rs 48,000 crore worth of non-performing assets (NPAs) by December. The private lender had earlier agreed to sell its bad loans to an asset reconstruction company (ARC) floated by JC Flowers. According to a report in Mint, YES Bank will also pick up a 20 per cent stake in the ARC.

JC Flowers ARC had earlier won a Swiss auction to get YES Bank's NPAs for Rs 11,183 crore. It is expected to pay Rs 1,677 crore to the bank in the next 60 days, the Mint report added.

Education technology start-up upGrad said on Thursday it has acquired corporate training solutions firm Centum Learning (Centum) in a share-swap deal.

Entrepreneur Ronnie Screwvala-led upGrad didn’t reveal the value of the transaction for Centum, which is expected to clock revenue of Rs 170 crore ($ 21 million) in Financial Year 2022-23 (FY23).

Vedanta is fully committed to investing in Maharashtra, chairman Anil Agarwal, tweeted on Wednesday, amid a political brouhaha over Gujarat pipping the state to bag a $20-billion investment.

On Tuesday, Vedanta announced that the Vedanta-Foxconn semiconductor plant would be set up in Gujarat.

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