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Oswal Pumps is launching an IPO to raise funds for debt repayment and capital expenditure, while promoter stake will decrease. The company's revenue has grown, largely driven by government contracts under the PM-Kusum Scheme. However, increased collection time and working capital needs, along with reliance on a single scheme, suggest investors should monitor performance post-listing despite attractive valuation.
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News and Media
Indian equity markets experienced a 1% decline on Thursday, triggered by escalating tensions in West Asia and the subsequent surge in crude oil prices. Geopolitical uncertainty, coupled with a plane crash, dampened investor sentiment, leading to significant selling pressure from foreign portfolio investors. While domestic institutions provided some support, broader market indices reflected the prevailing caution.
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News and Media
The finance ministry has amended rules, effective June 11, 2025, allowing Indian companies in restricted FDI sectors to issue bonus shares to existing non-resident shareholders, provided their stakes remain unchanged. This move aims to provide flexibility in equity restructuring and improve capital management, aligning with the DPIIT's April announcement and broader efforts to attract foreign capital.
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News and Media
SBI Mutual Fund purchased a 3.6% stake in Asian Paints from Reliance Industries for Rs 7704 crore, marking one of Indias biggest bilateral block deals. Reliance monetized a 17-year-old investment, reaping a 23-fold return amid competitive industry pressures.
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News and Media
The Reserve Bank of India has instructed banks and NBFCs to permit transactions for low-risk customers with pending KYC until June 30, 2026, provided reminders are sent. Self-declaration via banking correspondents is now allowed for unchanged KYC or address updates. Banks can update KYC for inactive accounts and unclaimed deposits across branches, including through video identification.
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News and Media
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