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Initially, I was a little worried about what foreigners would do given the lower earnings growth. They have sold about 1.5 lakh crore but the Nifty has fallen only about 1,200 points. And now they are also tired of selling.
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News and Media
The Reserve Bank of India (RBI) has approved the Burman family's plan to acquire an additional 26% stake in Religare Enterprises. This follows a tussle for control of the NBFC. The RBI's approval, valid for one year, comes with conditions, including maintaining the current management structure and requiring consolidation of NBFCs within the Burman group by March 31, 2026.
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News and Media
Godrej Consumer Products fell nearly 9%, leading a fall in FMCG stocks. Tata Consumer Products slumped 4.1% while Marico, Hindustan Unilever and Dabur shed over 3% each. Colgate Palmolive tumbled 2.9% while Nestle and Britannia Industries fell over 1.5%. ITC closed 1.26% lower.
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News and Media
Sanjay Malhotra, a 1990-batch IAS officer, has been appointed as the next RBI governor for a three-year term, succeeding Shaktikanta Das. He takes charge amid high inflation and slowing growth, facing the challenge of balancing economic recovery with price stability. Malhotra, currently revenue secretary, has a strong background in taxation reforms and financial services.
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News and Media
Das steered India's economy through challenging times, including the Covid pandemic and global conflicts. Das prioritised financial stability and a 4% inflation target, leaving India as the fastest-growing economy with robust foreign exchange reserves. His successor is Sanjay Malhotra.
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News and Media
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