India’s insurance regulator, IRDAI, has issued a show cause notice to Care Health Insurance, a subsidiary of Religare Enterprises, regarding the grant of stock options to Rashmi Saluja, who serves as the chairperson of Religare. The notice alleges that Care Health Insurance violated IRDAI directions by issuing stock options to Saluja despite prior refusal in May 2022. Saluja, an executive chairperson at Religare, was granted these options as an employee, though she is a non-executive director at Care.
PL Capital predicts Nifty bull case target at 27,590, flags 23 SMID, largecap stocks as high conviction picks
Prabhudas Lilladher Capital maintains a positive long-term outlook on Indian equities, projecting a Nifty bull case target of 27,590, while revising its 12-month base case
April 14, 2025