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The Deloitte company logo is seen at their office in Gurugram, India, June 13, 2023. The auditor's resignation has brought fresh scrutiny of the financial management at Adani Group, led by Indian billionaire Gautam Adani. "The Audit Committee (of Adani Ports) was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move," it said. Adani Ports has named MSKA & Associates, an independent member firm of BDO International, as its new auditor, it said in the statement. Deloitte in May first pointed to certain transactions flagged by Hindenburg in its report and gave only a qualified opinion related to Adani Ports, indicating concerns by a company's auditor.

Persons: Anushree, Gautam Adani, Hindenburg, Aditya Kalra, Ros Russell Organizations: Deloitte, REUTERS, U.S, Adani Group, GQG Partners, Sanghi Industries, Associates, BDO International, Thomson Locations: Gurugram, India, Adani Ports, Australia, New Delhi

A view shows Ambuja Cement bags, to be carried to a construction site, in a load carrier in Ahmedabad, India, July 29, 2022. REUTERS/Amit Dave/File PhotoNEW DELHI, Aug 1 (Reuters) - India's Ambuja Cements (ABUJ.NS) has reached a deal to acquire a majority stake in operations of Sanghi Industries (SNGI.NS), two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani's firm. The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said, declining to be named because the decision is not public. One of the sources said the deal was done by considering Sanghi's enterprise value at 60 billion rupees ($729 million). Sanghi Cement declined to comment.

Persons: Amit Dave, Gautam Adani's, Ambuja, Adani, Aditya Kalra, Leslie Adler Organizations: REUTERS, Sanghi Industries, Economic, Sanghi, UltraTech, ACC Ltd, Adani Group, Reuters, Thomson Locations: Ahmedabad, India, Gujarat

Several regional banks saw insiders buy shares over the past seven days, according to VerityData. Insider buying is tracked by some professional investors as a potential sign of company quality. Here are the five U.S. companies with the biggest insider buying over the past week, according to VerityData. Buying the dip was a theme of all of the top five insider buying companies. See more about Insider Buying on CNBC's " Last Call ," weekdays at 7 p.m.

Twilio CEO Jeff Lawson bought $10 million worth of his company's stock last week, putting him at the top of the list for insider buying, according to VerityData and securities filings. Twilio, like many other tech stocks, deflated in 2022, and the stock is down about 80% since mid-October 2021. A $10 million buy from Twilio CEO Jeff Lawson on Feb. 24. A nearly $2 million buy from Impinj chairman Steve Sanghi on Feb. 23. On the smaller side, Charles Rivers Labs director Richard Wallman made his second insider buy in three months.

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