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Adani Group, considering divesting its 44% stake in Adani Wilmar, aims to decide within three months, confirmed CFO Jugeshinder Singh. The group's recovery follows U.S. short-seller concerns over debts, leading to a significant market cap drop. Despite recent rebounds, Adani's shares remain down by about $120 billion. Following Supreme Court orders, is investigating the group.
The well-known insurance aggregator Policybazaar is about to receive a substantial cash infusion of INR 350 Crores ($42 million) from its parent firm, PB Fintech Ltd., in a major development for the financial sector. This is a calculated move with ramifications for all parties involved and the insurance industry as a whole.
Glenmark Pharma has hived off a 75 percent stake in Glenmark Life Sciences, which accounted for nearly 11 percent of its consolidated top line, and had a 20 percent EBITDA contribution, to clear debt
Rajat Agrawal (promoter) of Gravita India offloaded the shares.