Kotak Securities has maintained a negative outlook on IGL and MGL for over a year, advising investors to reduce exposure due to the structural shifts in the gas allocation policy and intensifying competition.
The ruling would be viewed as a negative development for Lupin and Zydus, as it effectively blocks their ability to market the generic drug in the US. Analysts suggest the companies may also face financial penalties.
SEBI alleged that funds were diverted from Gensol Engineering (listed entity) to private promoter entities & promoters. Promoters of Gensol have also been accused of funding and using a private entity (Wellray) to trade in the scrip of Gensol.
The Dutch company reported bookings of €3.94 billion ($4.47 billion) in the three months through March, it said in a statement on Wednesday.
Manishi Raychaudhuri, Chief Executive Officer at Emmer Capital Partners said globally linked sectors such as metals, IT, and parts of pharma—which together make up nearly 40% of India’s earnings base—are at risk of further downgrades.
William Lee, Chief Economist and Executive Director of The Milken Institute said that once the deleveraging phase stabilises, fund flows into emerging economies could resume, driven by the need for diversification and growth.
The current listed market capitalisation of the S&P 500 stands at $45.378 trillion. Based on Warren Buffett’s cash pile, he could buy out the bottom 476 companies in the index, which together account for approximately 73% of its total market…
Both JBM Auto and Olectra Greentech are the top gainers on the Nifty 500 index on Wednesday and have surged 32% and 24% over the last one month respectively.
China’s equity market, Mowat noted, is benefitting from positive earnings revisions and cheaper valuations. “Chinese tech names are relatively inexpensive,” he said.
The new addition of the block complements Hindustan Oil Exploration Company’s existing block MB/OSDSF/B80/2016 in Mumbai offshore, expanding the company’s total acreage to over 800 square km, it said.