Popular Vehicles and Services (NSE:PVSL, BOM:544144) said it has provided a corporate guarantee to HDFC Bank (NSE:HDFCBANK, BOM:500180) for the existing and enhanced Inventory Funding (TWIF) Floating Facility of 60 million Indian rupees sanctioned to its wholly owned subsidiary, Kuttukaran Cars, according to an Indian bourse filing on Thursday.
Shares of the company fell over 4% in Friday's trade.
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