Rs 78,213 crore! That’s the value of unclaimed deposits lying with banks across the country as of March 2024, as per the Reserve Bank of India’s (RBI) annual report for 2023-24.This humungous amount sits in the Depositors' Education and Awareness Fund (DEAF) and earning a simple interest at a rate of 3 per cent per annum.
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Shares of Wockhardt Ltd. will be in focus on Thursday as the drug manufacturer's Capital Raising Committee has approved the launch of its Qualified Institutional Placement (QIP), the company said in an exchange filing on November 6. Floor price of the QIP has been fixed as ₹1,162.25 per share, which is a 8.5% discount to Wednesday's closing price for Wockhardt.
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Tata Steel's shares will be in focus after reporting a consolidated net profit of Rs 759 crore for Q2FY25, a significant swing from a net loss of Rs 6,511 crore in the same period last year, driven by increased demand and lower input costs, with brokerages JP Morgan and Morgan Stanley maintaining their overweight and equal-weight ratings, respectively.
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