PFC and REC shares fell on Thursday after Morgan Stanley downgraded both stocks to Equal-Weight and cut their target prices. The brokerage flagged slower loan growth and lowered earnings estimates for FY28 and FY29. The downgrade comes ahead of the…
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The tax probe has found that a substantial portion of the money moved to a handful of overseas destinations. Singapore, the UAE, Hong Kong, Mauritius and China together accounted for 72.3% of the total remittances. Singapore emerged as the largest…
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As Gaja Capital’s IPO opened for retail subscription, its Red Herring Prospectus (RHP) highlighted several risk factors that investors may need to weigh carefully, including persistent negative cash flow from operations, heavy reliance on carried interest, a temporary gap in…
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Aditya Birla Capital will enter India’s gold loan market soon. The company plans to open about one thousand dedicated branches over three years. This expansion aims to grow its secured lending business significantly. Elevated gold prices are boosting growth prospects…
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The Indian rupee strengthened slightly on Thursday, aided by central bank actions. Hawkish policy minutes from the Reserve Bank of India also supported the currency. A generally weaker dollar provided additional positive momentum for the rupee. Elevated oil prices and…
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Life Insurance Corporation of India (LIC), India’s largest insurance company, has received approval from the Reserve Bank of India (RBI) to increase its stake in HDFC Bank to up to 9.99 per cent.
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