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Rakesh Gangwal and his family executed a significant block deal, selling a 5.72% stake in InterGlobe Aviation for 11,564 crore. This transaction, part of a phased exit strategy initiated after Gangwal's departure from the board in February 2022, reduces their holding to 7.81%. The sale, one of the largest recent secondary market deals, follows previous stake reductions by the family.
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News and Media
Life Insurance Corporation of India reported a 38% surge in March quarter net profit, reaching 19,013 crore, driven by non-participating products and improved margins. The board recommended a final dividend of 12 per share for FY25. Despite regulatory changes impacting premium equivalent, the value of new business rose, and the solvency ratio improved, showcasing a focus on profitable growth.
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News and Media
Indian equity indices experienced a decline of over 1% on Tuesday, influenced by weak global cues and profit-booking in key sectors ahead of the monthly expiry. Despite the downturn, analysts maintain a bullish outlook. Market sentiment was also affected by uncertainty surrounding Donald Trump's tariffs and trade agreements, contributing to investor caution.
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News and Media
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