Monday, 13 May 2013
Ranbaxy Company to pay $500 million to settle US fraud charges
Ranbaxy Laboratories on Monday agreed to pay $500 million (around Rs 2,743 crore) to resolve fraud allegations made in a whistle-blower's lawsuit and federal criminal charges that the company sold adulterated drugs and lied about it to US regulators. This is the largest false claims case involving a generics drugs manufacturer. ...
Sebi forces key changes to Justdial IPO
Justdial filed its offer document last year, it intended to sell shares amounting to just 10 per cent of the fully diluted paid-up equity share capital — it was looking for valuations of more than Rs 4,000 crore. According to rule 19 (2) (b) of the Sebi ICDR (Issue of Capital and Disclosure Requirements) Regulations, during an IPO, a company...
Banks might tighten loans to jewellery sector
Senior bankers said the loan-to-value ratio might be made more stringent. For instance, if loan credit was given up to 60 per cent of the value of collateral earlier, now it would be for only 50 per cent.A Gems and Jewellery Export Promotion Council official said banks had become more careful in issuing fresh standby letters of credit. After a sharp rise in defaults during the global financial crisis of 2008-09, banks had taken...
Gold sales around Rs 150 cr on Akshaya Tritiya
the jewellers in the state have made a brisk business to the tune of Rs 150 crore on the occasion of Akhsaya Tritiya, trade sources said.
...
Tuesday, 7 May 2013
Rekha Rakesh Jhunjhunwala buys 25,00,000 shares of SpiceJet
Rekha Rakesh Jhunjhunwala bought 25 Lakh shares of SpiceJet at Rs 38.94 on the BSE.In the previous trading session, the share closed at Rs 40.50, up Rs 2.45, or 6.44 percent. It has touched an intraday high of Rs 41.80 and an intraday low of Rs 37.20. ...
VPM Electricals buys 10.85 lakh shares of Eon Electric Private ltd
VPM Electricals Private Limited bought 10,85,050 shares of Eon Electric at Rs 24.62 on the BSE.VPM Industrial Services Corporation LLP sold 10,86,560 shares at Rs 24.62.In the previous trading session, the share closed at Rs 24.60, down Rs 0.45, or 1.80 percent. It has touched an intraday high of Rs 24.70 and an intraday low of Rs...
HDFC Mutual Fund sold 1.10 lakh shares of MM Forgings
HDFC Mutual Fund sold 1,10,000 shares of MM Forgings at Rs 68.25 on the BSE.However, HDFC Mutual Fund A/C HDFC Midcap Opportunities Fund sold 1,70,000 shares at Rs 68.25.
In the previous trading session,...
Godrej Properties to mull rights issue
Godrej Properties shares gained two percent in early trade Tuesday as the board of directors of the company will be considering the issue of equity shares on rights basis on May 9. ...
Emami rises 3% on strong Q4 earnings, bonus issue
Emami Share Consolidated profit grew by 30 percent year-on-year to Rs 94 crore while sales rose over 13 percent to Rs 451 crore from Rs 398 crore, Y-o-Y.Revenue growth was tad below street estimates of 19 percent because of 12.3 percent de-growth in international business.
...
BSE and NSE identify scrips for the restricted category
Country's premiere bourses BSE and NSE have identified several scrips to be shifted to the restricted trading category with effect from May 10, as a measure to ensure market safety. ...
Monday, 6 May 2013
clean-chit to ICICI Bank, HDFC Bank and Axis Bank_KYC norms
Subbarao, speaking at the customary post-policy media interaction, asserted that while money laundering, which involves use of criminal money, has not been observed in any of the banks, certain "specific transgressions" on the know-your-customer (KYC) front have been discovered.
The RBI said it has not given clean-chit...
Global markets continue to rally
Positive cues from the US jobs data had a rub-off effect and helped in overcoming uncertainty following downgrade of economic forecasts by the European Union. The European Union had earlier said that it expected the 17-country Eurozone's economy to shrink by 0.4% this year. This is 0.1% higher than its February prediction. The stock markets...
The Real Reason U.S Government Is Paying Down the National Debt
After six years of non-stop deficit spending that has added $8.2 trillion to the national debt, the U.S. Treasury has announced that it expects to reduce the country's debt by $35 billion this quarter.Given that national debt growth has rocketed past $16.7 trillion and is on track to exceed $17 trillion at some point in the fall, a $35 billion...
Stock Market Today Reacts to Gold and China
Dragging stocks down was a report that China's economy grew at 7.7% in Q1, weaker than the 8% growth economists were expecting, and down from Q4's 7.9%. This rattled global markets, as fears spread that there would be continued lower demand for Chinese goods and services.
The Dow Jones Industrial Average dropped 0.61% to 14,773.75....
Gold futures rise on global cues
The sentiment bolstered as gold climbed to its highest level since April 15 in global markets, as investors weighed rising physical sales against falling investment demand.At the Multi Commodity Exchange, gold for delivery in June rose by Rs 142, or 0.53 per cent, to Rs 27,104 per 10 grams in business turnover of 4,816 lots.The yellow...
Reliance Communications hit 2 year high on 30% tariff hike
Reliance Communications Ltd rose over 2 per cent in trade to hit
their two-year high of Rs 112.80 on Monday after the telecom major hiked
mobile call rates for both its GSM and CDMA pre-paid customers by up to
30 per cent. ...
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