The transition will trigger an open offer for an additional 26% stake in accordance with takeover laws, which mandate an incoming promoter or controlling entity to buy the additional shares from existing minority investors.
In the Nifty500 pack, eight stocks’ closing prices crossed below their 200-day moving averages (DMA) on September 24, according to technical scan data from StockEdge.
Under the proposed framework, distributors could be rewarded for the quality of sales and servicing, while commissions could be clawed back in cases of mis-selling.
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