Former Delhi deputy chief minister Manish Sisodia 'conspired' with others to frame a faulty excise policy in order to generate kickbacks and proceeds of crime to the tune of more than Rs 290 crore, the Enforcement Directorate (ED) alleged before a court in New Delhi on Friday.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
The CBI on Sunday deferred the questioning of Deputy Chief Minister Manish Sisodia in connection with the Delhi Excise policy scam case after he sought time from the probe agency citing the city government's ongoing budget exercise.
The Enforcement Directorate on Friday claimed before a Delhi court that Aam Aadmi Party leader and former deputy chief minister Manish Sisodia was involved in "large scale destruction of digital evidence to impede investigation" into the Delhi excise policy case and had changed and destroyed 14 phones.
Sisodia was arrested after nearly eight hours of questioning on various aspects of the excise policy for 2021-22, which the probe agency says suffered from irregularities both in its formulation and implementation, allegedly intended to benefit people with links to the AAP.
Even as most of its large-cap pharmaceutical peers have struggled to stay above water on the returns front, Zydus Lifesciences has been one of the big outperformers within the sector over the past year with a return of over 30 per cent. The gains have come on the back of multiple triggers such as the scaling up of new product launches in the US market, clearance for its Moraiya (Gujarat) facility and steady performance in the domestic market. Though it has been the top pharma gainer in the 2022-23 financial year (FY23), brokerages continue to maintain their 'buy' stance, given the strong visibility in the US market.
The BSE Mid-Cap index was currently up 0.81%.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
With an m-cap of Rs 31,744 crore, IRCTC stood at 96th position in the overall market capitalisation ranking, the BSE data shows.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
The market breadth, indicating the overall health of the market, was positive
n the broader market, both the BSE Midcap and Smallcap indices, were up 1.2% and 0.7% each.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
A Delhi court on Friday sent former Delhi deputy chief minister Manish Sisodia, arrested in a money laundering case related to the excise policy, to the Enforcement Directorate's custody till March 17.
Kolkata-based business tycoon Sanjiv Goenka's RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore, while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.
Drugs under exemption make up roughly 95 per cent of the antiretrovirals used by India's AIDS patients
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
European countries are trying to woo back the Indian customers they had lost following seizure of drug consignments by Customs authorities of several European Union members.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Top companies added employees at 3% CAGR from 2003-04 to 2013-14, while revenues grew at 18%.
After touching a fresh all-time low against the US dollar on Thursday, the rupee jumped 27 paise to end at 68.46.
The FMCG index gained more than 1% on the back of stellar gains in ITC.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
The country had the third-largest number of people living with disease.
FDA allows Teva to launch Nexium generic; Cipla, which supplies formulation, to gain
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
The 30-share Sensex ended down 224 points at 28,442 and the 50-share Nifty ended down 101 points at 8,606.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
With a new higher tax regime coming into effect from the new financial year, top corporates and wealthy investors are in a rush to restructure their shareholding.
After spending considerable time and energy in remediation efforts in the wake of the US Food and Drug Administration's warning letter on compliance issues, the company's leadership has finally set out to bring the house in order.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
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