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The National Asset Reconstruction Company has taken over the debt of Entertainment City. Punjab National Bank accepted NARCL's 711-crore offer. This ends a year-long effort by lenders to find a better deal. Entertainment City has outstanding debt of around 1,000 crore. NARCL's bid ensures lenders recover their principal amount.
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News and Media
Foreign investors divested shares worth 1.02 lakh crore in September quarter, with financial services firms, particularly NBFCs, experiencing significant stake reductions by foreign fund managers. Despite the selling pressure, some companies like Sona BLW Precision Forgings, Five-Star Business Finance, and Tata Communications saw their share prices rise. This occurred as Nifty and Nifty 500 indices registered declines of 3.5% and 3.
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News and Media
GQG Partners significantly boosted its stake in five Adani Group companies, including Adani Energy Solutions and Adani Enterprises, through substantial block deals totaling over 4,500 crore. The investment firm also expanded its portfolio with new positions in GMR Airports and other major Indian corporations like Bharti Airtel and State Bank of India.
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News and Media
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