Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

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MARKET EYE-NMDC gains as Barclays upgrade offsets auction price concerns

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Tue Dec 11, 2012 2:16pm IST 

* Shares in Indian state-run miner NMDC Ltd gain 2.9
percent, recovering from an earlier fall of 2.7 percent, with
Barclays' upgrade of the stock offsetting concerns over the
auction floor price for the company's share issue. 
*Barclays raised NMDC to 'overweight' from 'underweight' late on
Monday, citing favourable pricing dynamics in domestic iron ore
markets.
* The investment bank also raised its 12-month price target on
NMDC to 210 rupees from 173 rupees.
* Barclays said the falling domestic output of iron ore because
of caps and restrictions in some Indian states could increase
imports of the commodity, bringing domestic prices in line with
seaborne prices.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
India Markets
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