Mumbai: The State Bank of India (SBI) wants to appoint an adviser to liaison among the separate resolution professionals (RPs) and prospective bidders for the 15 Videocon group entities that it referred to the National Company Law Tribunal (NCLT), according to a public notice.

The bank has mandated SBI Capital Markets to look for this “common process adviser”.

Bengaluru: Indian software services exporter Wipro Ltd on Wednesday reported a 13.8% fall in second-quarter net profit, dented by higher expenses.

The Bengaluru-based company posted a net profit of 1,889 crore ($258.09 million) in the quarter ended 30 September, compared with 2,192 crore a year earlier, the company said on Wednesday.

New Delhi: Hyundai Motor Co. on Tuesday brought back the entry-level Santro small car to India two decades after it was first introduced as the South Korean carmaker mounts one of its strongest-ever efforts to challenge the domination of Maruti Suzuki India Ltd in rural markets and small towns. The re-launch of the Santro, however, comes at a time when high auto fuel prices, increased loan rates, and worsening macroeconomic factors have crimped consumer demand.

Bengaluru: Bajaj Auto Ltd posted a 3.65% rise in September-quarter profit on Wednesday, beating analyst estimates, helped by higher sales volume.

Profit came in at Rs 1,152 crore in the second quarter ended 30 September, compared with Rs 1,112 crore a year earlier, the automaker said in a statement.

RIL share price: Snapping a three-day losing spree, RIL share price surged on Wednesday morning, after falling global crude oil prices lifted sentiments for the prospects of oil-telecom conglomerate. Reliance Industries share price gained as much as 2% to Rs 1075.95 in the morning trade, even as crude oil prices fell to a near two-month low.

ICICI Bank on Tuesday said a leading law firm has taken down a 2016 report exonerating the bank’s former head Chanda Kochhar from charges of nepotism and conflict of interest with regard to loans given to the Videocon Group. The law firm in question is understood to be Cyril Amarchand Mangaldas.

ArcelorMittal has agreed to make a bigger offer of Rs 42,000 crore for the debt-laden Essar Steel, following negotiations with lenders to the company, senior bankers have indicated to FE. So far, the offer included a Rs 35,000-crore upfront payment to lenders apart from a Rs 8,000-crore equity infusion into the company.

Target Corp, aiming to one-up retail rivals during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at local stores. The Minneapolis-based retailer will offer free two-day shipping on hundreds of thousands of items from Nov. 1 to Dec. 22 with no order minimum or membership required. Target had announced the shipping service in March.

Kotak realty fund (KRF) has received commitments worth a significant amount from marquee investors over and above the Rs 2,300 crore it has raised as part of its two new funds, chief executive officer (CEO) Vikas Chimakurthy told FE in an interaction on Tuesday. KRF has already deployed part of the funds and has ample liquidity that is yet to be deployed.

The Supreme Court on Tuesday asked Reliance Communication Ltd to clear the dues of Rs 550 crore to telecom equipment maker Ericsson India by December 15, saying that delayed payment would attract an interest of 12 per cent per annum.

A bench headed by Justice R F Nariman said that it was the last opportunity given to RCom for clearing the settlement amount.

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