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CDSL added 85 lakh new accounts in the December 2023 quarter, 80 lakh in the September quarter, and 52 lakh in the March 2023 quarter, the depository said in an exchange filing.
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"Aggressive store expansion by existing players and entry of new player (e.g., Novel Jewels by Aditya Birla Group will invest 5,000 cr) may keep competitive intensity elevated," said Citi's analysts in a client note.
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The brokerage said Deepak Nitrite is in the midst of its largest investment cycle, transitioning into India's largest, integrated phenolics producer.
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News and Media
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