Sangam India will remain in focus as the company’s board on Tuesday approved a proposal to hike foreign institutional investors’ buying limit to 49 per cent from 24 per cent, subject to shareholders’ nod. However, FIIs currently own just 0.76 per cent stake in the company. The board also okayed an expansion plan worth ₹198 crore. Meanwhile, in revised results, Sangam said its net profit rose 52 per cent but topline declined 2.25 per cent.

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