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A cut in cash reserve ratio (CRR) by 50 bps to 4%, effective from December 14 in two phases, will infuse Rs 1.16 lakh crore into the banking system.
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The company's revenues grew at a CAGR of 32.3% from 365 crore in FY22 to 638 crore in FY24. Net profit rose at a CAGR of 37.6% to 325 crore in FY24.
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India pharma companies progress in complex generics, stable US pricing and steady sales growth in India led to fund houses buying into stocks like Alembic Pharma, Divis Labs, Glenmark, Medplus, Orchid and Sanofi Consumer.
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"Demand from local importers continued to keep the rupee under pressure. There were some inflows, but they were all absorbed by the RBI. The central bank was seen protecting levels of 84.87 to 84.88 but RBI interventions did not change the direction of the pair," said Anil Bhansali, head of treasury at Finrex Treasury Advisors.
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Morgan Stanley India Primary Dealer is also close to implementing the service, said the people, all of whom asked not be named discussing a private matter. Both companies didn't immediately respond to emailed requests for comment.
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