Accused of Hiding Information
Ranbaxy shares slump after Daiichi Sankyo says misled over probes
Ranbaxy Laboratories Ltd slumped as much as 6.97 percent on Thursday after majority shareholder Daiichi Sankyo Co said it believes former shareholders of the Indian company hid information regarding U.S. regulatory probes. Full Article | Related Story
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Tax Avoidance
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MARKET EYE-SGX Nifty gains; September-quarter GDP key
* Nifty futures on the Singapore Exchange rise 0.37 percent. The MSCI-Asia Pacific index excluding Japan is up 0.65 percent. * Asian shares edged up on Friday on expectations a deal will eventually be reached to avoid a U.S. fiscal crisis, but investors wary about taking big positions before the year-end likely to take profits on rises and buy on dips. * Foreign investors bought 15.80 billion rupees of stocks, while domestic institutions sold 8.96 billion rupees on Thursday, when the BSE index rose 1.75 percent. * The Indian government bowed to intense opposition pressure and agreed on Thursday to a vote on its decision to let foreign supermarkets set up shop in India, taking a major step towards ending a deadlock that has paralysed parliament for days. * Traders awaiting September-quarter gross domestic product data, due to be released at 0530 GMT on Friday, with growth seen slowing to its lowest in nearly a decade for the year ending in March. (abhishek.vishnoi@thomsonreuters.com /; abhishek.vishnoi.reuters.com@reuters.net)
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