The regulator said MXCCL had filed a suo moto application with it proposing to settle a legal action that could be initiated against it for violation of risk management norms.
Astral shares fell nearly 6% on Monday after the company’s board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie.
Analysts at Nomura and Jefferies, however, maintain ‘Buy’ ratings, with Nomura highlighting Anup Kumar Saha as a strong internal candidate. Despite the leadership change, analysts
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