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Adani group bets big on aviation! Plans to invest Rs 1 lakh crore in next 5 years; will bid ‘very aggressively’ for 11 more airports

The Adani Group plans to invest Rs 1 lakh crore in its airports business over the next five years, betting on strong and sustained growth in India’s aviation sector, according to Jeet Adani, director of Adani Airports. Speaking to news agency PTI ahead of the launch of commercial operations at Navi Mumbai International Airport, he…

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Irdai fines Reliance General Insurance over ‘commission’

MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed…

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Improving Internals, Loan Growth Pickup Boost Re-Rating Hopes

Axis Bank’s third quarter performance drew largely positive commentary from Morgan Stanley, Jefferies and Kotak Securities, with all three brokerages highlighting improving internals, better asset quality trends and a strengthening case for re-rating, even as headline earnings growth remained modest. On valuations, Morgan Stanley maintained Overweight and raised its target price to Rs 1,650, citing…

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