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Since January 2018, when the new management took over, Religare Finvest has repaid over Rs 9,000 crore to its lenders from its collections and through the support of its parent company

Under the arrangement, Mimosa’s product development, manufacturing, and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys, the filing said.

The Nifty Bank index closed 0.55 per cent up at 41577.1.

The brokerage expects IEIL’s Revenue/EBITDA/PAT to grow at 17/14/15% CAGR over FY22-FY25E, led by increased execution of orders.

"The negative outlook is due to expected moderation in financial flexibility of the Adani Group in case of any adverse outcome or observations in on-going regulatory and legal scrutiny directed by Honourable Supreme Court of India in connection with various allegations against Adani group companies," CARE said in a report.

“Hopefully, at some point in time during the year, we will start seeing an end of the rate hiking cycle of the last year or so. Hopefully, with growth expectations moderating, we will get into a situation where earnings growth will start meeting expectations and the extraordinary amount of capital expenditure that the government is putting into the ground will start to have a knock-on effect on aggregate demand.”

The Relative Strength Index of the stock stood at 38.26 on Thursday.

While the buyers and sellers were not known immediately, it was earlier reported that Clear Wealth Consultancy Services was planning to sell its stake in the company

On the technical charts, the 200-day moving average of the stock stood at Rs 7624.13.

As of 31-Dec-2022, promoters held 0.0 per cent stake in the company, while FIIs held 18.89 per cent and domestic institutional investors had 12.55 per cent.