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The Nifty Pharma index closed 1.92 per cent down at 21249.5.

Irdai has initiated quarterly monitoring for eight insurers exceeding their 30% expenses of management limits to enforce financial discipline. New accounting norms require insurers to report premiums annually. High commissions in bancassurance are also under review, with a significant rise in expenses since April 2023.

The NSE Nifty tumbled 1.3% or 309.80 points to finish at 23,071.80. The BSE Sensex slumped 1.3% or 1,018.20 points to close at 76,293.60. The slump in the broader market was deeper with the Nifty Midcap 150 index tumbling 2.9% and the Smallcap 250 index 3.4%.

The Securities Appellate Tribunal (SAT) order was crystal clear on every allegation made. The Sebi, of course, has the right to investigate, and they should. I fully stand by the law of the land and will comply with whatever the regulator ultimately decides.

An ex-director of company, having 12.12% shares, nominally valued at ₹10.28 crore, is said to have sold entire shareholding to an NRI for one dollar only.

Sebi said if the funds or securities could not be credited to the client bank account or demat account in the normal course of business, or the client is not reachable, then such client accounts should immediately be put under enquiry status .

Of this, ₹2,248 crore was drawn in June 2024 to acquire six hybrid annuity model projects, while the remaining funds will be used to fund the acquisition of NAM Expressway, expected to close this quarter, according to a recent ICRA report that rated the instrument at AAA .

Steel Authority of India (SAIL) reported a 66% drop in standalone net profit at Rs 142 crore for Q3FY25, compared to Rs 422 crore a year ago. Revenue rose 5% to Rs 24,490 crore. Expenses increased, and profit after tax fell 84% sequentially. SAIL Chairman emphasized a focus on boosting production and addressing import issues amid challenging market conditions.

The Indian rupee strengthened by 64 paisa to 83.83 against the US dollar, marking its largest single-day gain since November 2022 due to significant intervention by the Reserve Bank of India. This move caused speculative dollar selling and stop losses for those expecting further depreciation.

Vodafone Idea s net loss narrowed to Rs 6,609 crore in Q3, driven by tariff hikes that boosted ARPU. However, the telco continues to face challenges with subscriber losses, now below 200 million. Investments and phased 5G rollout plans are set to accelerate in the coming quarters.