Thursday, 1 October · prices through NSE close
The Insurance Regulatory and Development Authority of India proposed sweeping changes to insurance distribution, commissions, and expense structures. PB Fintech shares declined following the proposal, with insurance stocks experiencing heavy selling as the regulatory changes affect how insurers and distributors earn from policies.
The US government has exempted certain specialty pharmaceutical products and associated ingredients imported from India and 19 other countries from a 100% tariff. The exemption applies to drugs and ingredients used to treat rare medical conditions.
ITC has completed its acquisition of Sproutlife Foods Private Ltd, the parent company of the Yoga Bar brand, by purchasing the remaining 52.5% stake for approximately ₹645 crore, making it a wholly owned subsidiary. The cumulative investment in the health and nutrition brand totals approximately ₹900 crore.
Flipkart's logistics arm Ekart expanded its storage capacity by 50% and added over 900 delivery hubs, bringing its network to more than 8,200 facilities. The expansion included 14 million cubic feet of warehousing space and extended delivery coverage to over 750 new PIN codes ahead of the upcoming festive season.
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