Federal Bank stares at Rs200 crore asset stress
According to ED of Federal Bank there are two loans totaling up to Rs200 crore that are under stress and may turn into non-performing assets (NPAs).
One of the account is from the shipping sector where it has an exposure of Rs120 crore, while the second is a steel sector account where its exposure is Rs80 crore.
Siemens gains on strong results with profit of Rs168 crore
Shares of Siemens gained 3% to Rs1535 on NSE after the company yesterday after market hours reported a strong result with profit of Rs168 crore compared to that of Rs13 crore a year ago. This was driven by expansion of 900 bps in operating margin which stood at 10.7%. While the revenues were flat
L&T seeks shareholders nod to raise $600 million
Larsen & Toubro has sought shareholders nod to raise up to $600 million (about Rs3,200 crore) through issuing securities to meet capital requirement of growing business. The company requires adequate capital to meet the needs of growing business.
Maruti Suzuki launches S-Cross via Nexa channel
Maruti Suzuki launches its premium crossover S-Cross; first product to be retailed via the Nexa channel. Maruti Suzuki has launched its first premium crossover i.e S-Cross in the India market. The company has offered superior interiors as well as a slew of features to appeal to the prospective consumer. The S-Cross will be exclusively retailed through Maruti’s Nexa distribution channel.
Dr.Reddy's up after strategic collaboration with Amgen
Dr.Reddy's Laboratories rose over 3%, touching to Rs4325, after the company said it has entered into a strategic collaboration with Amgen to market and distribute Amgen medicines in India. Dr Reddy's Laboratories (Dr Reddy's Lab) said that it has entered into a strategic collaboration with Amgen – one of the world's leading independent biotechnology companies – to market and distribute three Amgen medicines in India in the areas of oncology and cardiology.
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