Tue, Feb 27, 2024 9:34 PM
Promoter Sion Investment exits CMS Info Systems in Rs 1,547-cr block deal
A Flip by Avya Verma
Central government is poised to introduce significant reforms in the insurance sector, including allowing 100% foreign direct investment (FDI) and easing restrictions on insurance agents, according to a report in The Times of India. These changes are part of the proposed Insurance Amendment Bill, which is expected to be presented during the winter session of Parliament later this month.
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Shares of Mahanagar Gas and Indraprastha Gas fell up to 18% on Monday after the government cut the Administered Price Mechanism (APM) allocation to city gas distribution firms by 20% for the second consecutive month. Mahanagar Gas shares dropped to Rs 1,075, while Indraprastha Gas shares slid to Rs 324.8.The brokerage slashed its target price for MGL by 35% to Rs 1,164.
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Gold will rally to a record $3,000 an ounce by December 2025, driven by central-bank buying and US interest rate cuts, according to Goldman Sachs. The analysts cite increased demand from central banks and cyclical lifts from ETF flows as drivers, with potential boosts from trade tensions and US fiscal sustainability concerns.
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