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-Government measures to boost cement demand

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Mon Dec 17, 2012 1:24pm IST 

* India's cement industry will witness a sharp recovery in
cement prices in fiscal 2013-14, on improving supply-demand
dynamics and the government action to fast track infrastructure
projects, analysts say. 
* Deutsche Bank believes cement companies such as UltraTech
Cement and Shree Cement that have potential
to increase capacity and have a bigger presence in western and
northern India will witness "disproportionate benefits".
* Bank of America Merrill Lynch upgrades Ultratech Cement and
India Cements to 'buy' from 'underperform' in reports
dated on Friday.
* Morgan Stanley maintains an 'attractive' view on the sector,
and recommends investors to buy cement stocks on weakness
because on expectations of easing capacity addition and pickup
in cement demand, in a report dated Friday.
* Mid-cap cement companies outperform large caps: India Cements
 gains 0.7 percent, JK Cement is up 1 percent
while Madras Cement rises 1.8 percent.        
* Ultratech Cement shares are down 1.2 percent, ACC 
gains 0.1 percent.
* The thomsonreuters construction materials index down 0.08
percent as of 1.25 pm.

 (manoj.dharra@thomsonreuters.com)
India Markets
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