Reliance Industries (RIL) has had a dream run over the past one year, with its market value almost doubling and the firm leapfrogging 66 places in the league table of the world’s most valuable firms.

The Mukesh Ambani-led firm ranks 111, against last year’s 177, Bloomberg data show. Some of the global majors Reliance overtook include Nike, Starbucks, Vodafone and Volkswagen. It also surpassed TCS, which ranked 122 last year.

Private lender HDFC Bank on Tuesday reported a rise in net profit by 20.1 per cent to Rs 4,151 crore for the September quarter against Rs 3,455 crore in the year-ago quarter.

Provisions, predominantly for bad loans, surged 97.09 per cent to Rs 1,476.19 crore from Rs 748.99 crore a year ago.

The ongoing rounds of nonperforming loan resolutions initiated by the Reserve Bank of India hold the key to the State Bank of India's credit profile, said Moody's Investors Service.

"The resultant haircut on SBI's assets will likely show a substantial impact. Our scenario analysis concludes that SBI can absorb haircuts of up to 50-55 per cent, while maintaining a common equity Tier 1 ratio of above 9.5 per cent at the end of March 2019," it said in a report.

The Indian Railways just can't seem to catch a break, be it unfortunate accidents that have cost lives or contaminated and poor quality food being served to passengers.

Coming on the heels of the food poisoning incident aboard the Tejas Express, the UT consumer forum has imposed a penalty of Rs 30,000 on the Indian Railway Catering and Tourism Corporation Ltd (IRCTC) in a case related to serving a Kalka-New Delhi Shatabdi Express passenger his meal in an unhygienic manner, the Indian Express reported on Tuesday. According to the report, the passenger had alleged that the meal was contaminated with dead insects.

Hyundai Motor India on Tuesday said it has received order for 10,501 units of its recently launched all-new Verna from the West Asia.

The all new Verna, which was introduced in the country in August this year, will be sold as Next Gen Accent in the West Asia markets, including Saudi Arabia and Oman.

Microsoft said it will drop its lawsuit against the Department of Justice over gag orders placed on companies that prevent them from telling customers when their personal data has been accessed by investigators. Its decision comes after the DOJ issued a new binding policy that requires prosecutors to give more detailed reasons when applying for a gag order and makes it much harder to seek one that lasts indefinitely.

In a blog post about the company’s decision to withdraw the lawsuit, which was filed against the U.S. government in April 2016, Microsoft president and chief legal officer Brad Smith wrote that the DOJ’s new policy “is an important step for both privacy and free expression.

The eight consortium accounts that were classified as non-performing assets by Axis Bank last week after a directive from the Reserve Bank of India will have to be classified as NPAs by the other lenders who are part of the consortium, bankers said. The banking sector’s exposure to these accounts would be close to Rs 40,000 crores, Axis Bank told analysts at its recently-held second quarter post-earning call. “The other banks will definitely have to treat them as NPA since these are consortium accounts,” a senior banker with a state-run lender said.

MUMBAI | NEW DELHI: The undisputed leader in India’s compact-car space is now gunning for a bigger prize – the pole position in India’s fast-growing and high-margin utility-vehicles segment.

Maruti SuzukiBSE 1.16 %, the biggest success story for Japanese carmaker Suzuki Motor Corp beyond its home base, is likely to have a portfolio of more than half a dozen utility vehicles and crossovers with three new offerings lined up in the next four years.

Coal India plans to rationalise supply sources for private power producers to reduce the distance over which coal is carried in an effort to cut transport and generation costs. The state-run monopoly will soon invite private generators to participate in the scheme.

A similar exercise was undertaken for state-run power units two years ago, aiming to reduce costs by almost Rs 6,000 crore by feeding each plant with coal from the closest mine instead of transporting it over long distances.

Reliance Communications has received the approval from Department of Telecommunications (DoT) for the merger of wireless business of Sistema Shyam Teleservices Ltd (SSTL) with itself.

RCom will acquire about two million customers of Sistema Shyam, which operates under the brand name MTS, and additional annual revenues of around Rs 700 crore, the company said in a notice to the BSE.

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