Domestic fin institutions too give a thumbs up

Domestic financial institutions have hailed the new arrangement between two Ambani brothers which scrapped the non-compete clause included in their January 2006 agreement. These companies have large equity and debt investments in the companies of both the brothers. Life Insurance Corporation executive director A Mohan Raj said the development is good for the domestic stock market. The reason is that the two brothers have the capacity to do any business they want to. However, it will take much time before the impact on the holding companies owned by the brothers is known. LICE has got a lot of exposure in ...

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