The Maharashtra government’s decision in March to partially ban the use of plastic has put the country’s largest polymer producer in recycle mode. The Mukesh Ambani-led Reliance Industries (RIL) is now creating a platform for recycling, building a corpus and setting up a full-fledged sustainability team.

The board of ICICI Bank has appointed Sandeep Bakhshi whole-time director and chief operating officer (COO) to run the affairs of the private lender. Chanda Kochhar, managing director (MD) & chief executive officer (CEO) will be on leave, pending the probe.

The changes come amid allegations of a quid pro quo in transactions between Videocon Industries, Kochhar and her husband Deepak Kochhar’s company NuPower Renewables.

Mumbai: HDFC Bank Ltd, the world’s most expensive major lender, is considering relying entirely on the Indian market for a share sale that could raise as much as Rs 15,500 crore ($2.3 billion), people with knowledge of the matter said.

The Mumbai-based bank is weighing seeking all the capital through a qualified institutional placement in India, rather than its usual practice of splitting the fund-raising between an offering of local stock and a sale of American depositary receipts, according to the people.

New Delhi: The Salman Khan box office charm shows no sign of fading. The actor’s latest festival release Race 3 crossed the Rs 100 crore mark over its opening weekend, making Rs 106.47 crore in domestic box office collections. The action thriller has emerged as the second highest opening weekend earner of the year so far after period saga Padmaavat that had made Rs 114 crore, but it had a five-day extended weekend compared to Race 3’s three days.

New Delhi: Securities and Exchange Board of India (Sebi) is likely to change certain provisions in the takeover regulations, including those pertaining to revision of open offer price, a senior official said.

The watchdog’s move comes after public consultations on a discussion paper about review of SAST (Substantial Acquisition of Shares and Takeovers) Regulations.

Indian stock markets opened on a lower note on Monday following weak Asian peers after trade war concerns escalated between two major global economies. The BSE Sensex slipped 38.51 points to a low of 35,585.73 points during early trade. The Nifty50 of the National Stock Exchange fell around 10 points. Out of 1,166 trading companies on the BSE, 558 advanced as compared to 556 declines indicating a slightly bullish trend in the market.

In more trouble for liquor baron Vijay Mallya, the Enforcement Directorate (ED) has filed a fresh chargesheet against him and his companies on charges of money laundering and allegedly cheating a consortium of nationalised banks to the tune of Rs 6,027 crore..

German luxury car maker Mercedes-Benz said on Monday that all its diesel models in India from now on will have engines which comply with Bharat Stage (BS) VI emission norms.

The company, which launched Mercedes-AMG S 63 Coupe starting at Rs 25.5 million, has already launched one BS VI compliant diesel model S-Class ( S 350 d) in the country in February this year.

Yes Bank today said it has received approval from market regulator Securities and Exchange Board of India (Sebi) for acting as custodian of securities. Custodian of securities is a licence granted by Sebi to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs).

Shares of oil marketing companies (OMCs) like Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) were trading higher by up to 6% in otherwise subdued market after Brent crude prices fell in the international market.

At 11:39 am; HPCL (up 6% at Rs 323), IOCL (5% at Rs 176) and BPCL (3% at Rs 424) were up in the range of 3% to 6% on the BSE, as compared to 0.07% decline in the S&P BSE Sensex.

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