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Prudent is one of the leading independent retail wealth management services groups (excluding banks) in India and among the top mutual fund distributors in terms of average assets under management and commissions received.

"I request the board to look for a successor to my current position. I would be happy to be of help in identifying my successor, who, I am confident, would steer the bank in its next phase of growth." Vasudevan said in a letter to chairman of the board Arun Ramanthan.

The IPO comprises a fresh share issue worth ₹627 crore and an offer for sale of ₹181 crore

"It was further represented that there should be a minimum gap of three working days considering two days for settlement and one additional day for an investor to make an application in the rights issue," Sebi said in a circular on Thursday.

In addition, Sebi has revised timelines of submission of security cover certificate, valuation report and quarterly compliance report, and regulatory compliance by debenture trustees.

Crude gains have been limited this week, with the Brent and U.S. benchmarks mostly trading in a range due to the uncertain path of demand. Investors, worried about rising inflation and more aggressive action from central banks, have been reducing exposure to riskier assets.

NTPC, One97 Communications, Zydus Lifesciences, IRFC, Thermax, Pfizer, Metro Brands and Narayana Hrudayalaya are among companies which will announce their quarterly earnings today.

“The Indian market needs to go below the March low for it to find its footing but there is a possibility that it could stretch to 15,400 in the short term bounce over the next four to six weeks and make people forget what has happened over the last several months and then once again the larger decline to 14,000 that I spoke about since November is going to take place.”

The stock has fallen by over 27 per cent from Rs 1,138 to Rs 829 on 18 May 2022. The stock took support near Rs 650-660 levels in the past 2 months before bouncing back.

“Speciality chemicals are coming back again. The stocks were very expensive but a huge demand is coming up in the market as there is not enough supply in the market. So, I think that is one product. The outsourcing contracting story on the garment side offer another opportunity. A couple of companies that we bought have done extremely well.”