The regulator imposed this restriction as a temporary measure after discovering that Axis Capital had essentially guaranteed the redemption of NCDs under the pretence of underwriting, a practice that is not permitted.
The market construct looks quite positive. But I do not think we are out of the woods yet. My concern would be how the economy
Ather Energy IPO: Retail investors drove demand, subscribing to 94% of their allotted portion, while non-institutional investors (NIIs) subscribed 19%. The Rs 3,000-crore issue is
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