FDA had also issued warning letters to Ranbaxy's Paonta Sahib and Dewas facilities as it found extensive problems and deviations from manufacturing norms.
'In any business you have to achieve short-term goals.' 'But at the same time you have to keep your broader perspective long term.' 'It is good for business survival.'
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
The FDA actions eventually led to a $500-million fine for Ranbaxy as well as the effective mothballing of many of its Indian factories.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
'A fierce crusader against communalism, George joined hands with majoritarian forces, never to revisit or re-assess his saffron association.' 'He was a Union minister in 1998-2004, a time when people like Graham Staines were lynched in Orissa.' 'On the Gujarat pogrom of 2002, George went on to kind of justify the slashing of pregnant women, by saying in the Lok Sabha that this was nothing new for India.' 'Thus, he was in sharp contrast to what he had himself stood for in the heyday of his political career in the 1970s and 1980s, says Mohammad Sajjad.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
After a 25-year stint at ICICI Bank, Mor suddenly quit as he wanted to add more value in the bigger areas of health care and financial inclusion.
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
It is domestic policy distortions and inaction to correct them that lie behind the large CADs.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
Movement of rupee and crude oil prices will also dictate the trend
Babulal 'Bob' Bera, US Congressman Ami Bera's 83-year-old father, faces five years in prison.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
A group of retired civil servants also called upon the PM to reach out to the families of the victims in Unnao and Kathua and "seek their forgiveness on behalf of all of us".
Better stick to equity diversified funds, says Larisssa Fernand
Prime Minister Narendra Modi on Friday addressed the nation on the 68th Independence Day from the ramparts of the historic Red Fort for the first time.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
'They don't always agree with our governments, their teachers or their parents, but it is the conviction of their ideas, and their determination to share them with the world that, I believe, is one of the greatest sources of hope for our planet.' 'The colonisation of space, understanding the very building blocks of matter and the universe, utilising our understanding of the human genome to conquer disease -- these are the tasks waiting for a fellowship of minds to realise new triumphs in our collective destiny.'
'Devyani -- she is a public servant and her personal life has already received far too much attention -- and her ambitious father now need to retreat to the background so that wiser diplomatic heads restore sanity to India-US relations as India prepares for parliamentary elections,' says Ambassador K C Singh.
The biological weapons convention is a non-starter in spite of the efforts of many states in the world for the last five decades mainly because the US is not ready to accept the 'verification protocol' which could allow the formation of some official mechanism for inspections, says Ajay Lele.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
Saundarya Rajesh has helped more than 8,000 women get back to work.
Admittedly, EVMs too have a UID number and any convergence of data can make the secret ballot system a party of history, warns Dr Gopal Krishna in the 5th part of his series against Aadhaar.
The former McKinsey India head is presently on board of many big Indian conglomerates.
'In the past the US has been reluctant to name Pakistan directly in an US-India joint statement.'
Seeking a peaceful and secure neighbourhood amidst threat of terrorism and extremism, India and Kyrgyzstan on Sunday signed four agreements including one on bolstering defence cooperation and holding annual joint military exercises.
The American Association of Physicians of Indian Origin will attend the Pravasi Bharatiya Divas in Delhi with an agenda to develop a plan to bring together AAPI, NGOs and the government to provide access to affordable and quality health care. Aziz Haniffa reports
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
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Ayurvedic expert Dr G G Gangadharan on how the ancient Indian medical practice needs to be propagated in the country of its origin
The council resisted intense pressure from the powerful manufacturing, pharma and other trade lobbies that have urged the Obama administration to enact punitive measures against India for a laundry list of alleged intellectual property and patent violations.
With EU, it is part of the FTA that we will need to negotiate.
Indian economy about to take-off
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