HDFC Bank has “exceeded” the single-borrower limits prescribed by regulator RBI in case of its credit exposure to corporate giant Reliance Industries Ltd (RIL). The bank, however, said its board of directors approved “the said excess in respect of this exposure” and it was within the 20% ceiling of capital funds.
L&T has secured orders totally valued at Rs. 20.35 bn across various business segments this month.
Leading media player Zee Entertainment Enterprises has said it is eyeing a five-fold growth in viewership in the next five years.
JSW Group is considering new investments in the ports sector on the Eastern coast of the country. The Group has already invested about Rs10bn on the West coast.
Shoppers Stop Ltd has informed the stock exchanges that the company has opened two Shoppers Stop stores at Royal Meenakshi Mall, Bengaluru, and at Mangalore Airport, Mangaluru. With this, the company has now 73 Shoppers Stop stores (including four airport stores) under its operations.
Emami Ltd said it has launched Zandu Gel Balm Junior, a mild version of the pain reliever for kids.
Godrej Group’s Godrej Appliances forayed into the healthcare refrigeration space. The company announced the launch of medical refrigerators under a technology licensing agreement with the UK-based The Sure Chill Company.
JSW Steel has sought shareholders' approval to raise Rs40bn through qualified institutional placement.
Country's largest real estate player DLF is leaving no stone unturned to attract buyers in a slow market. After giving discounts in its various projects, DLF has now started organic farming in one of its projects in Gurgaon to sell vegetables to the residents at a cost lower than the market rates.
A year after the last recall of its generic hypertension drug Metroprolol, Hyderabad-based Dr Reddy's Laboratories Limited has initiated a nationwide voluntary recall of two more drugs earlier this month -Divalproex Sodium extended release tablets and Amlodipine Besylate and Atorvastatin Calcium tablets- from the US.
Ashok Leyland said that it is committed to light commercial vehicle (LCV) business and will work with its partner to improve the profitability. The LCV business, for which it had joined with Nissan, is under pressure due to high loss that stood at Rs7.91bn in 2014-15.
Food Safety & Standards Authority of India (FSSAI) in its affidavit filed in the Bombay high court has submitted that there was no anomaly in its order to recall Nestle’s Maggi noodles from outlets across India as well as to stop its production.
The special economic zone unit of Jamnagar refinery of Reliance Industries Limited is planning to shut down one crude distillation unit for routine maintenance and inspection activities in the first half of July for about 10 days.
Adani Enterprises said it has suspended engineering work at USD16.5bn Carmichael mine in Australia on account of delay in approvals.
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