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)

Daiichi Sankyo says it was misled over Ranbaxy U.S. probes

Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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Nomura cuts Bajaj Auto to 'neutral' on valuations

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Newly built motorbikes are seen at the Bajaj Auto Ltd. plant in Pune, about 130 km from Mumbai August 9, 2007. REUTERS/Punit Paranjpe/Files

Newly built motorbikes are seen at the Bajaj Auto Ltd. plant in Pune, about 130 km from Mumbai August 9, 2007.

Credit: Reuters/Punit Paranjpe/Files

Mon Dec 17, 2012 9:50am IST

Reuters Market Eye - Nomura downgraded Bajaj Auto (BAJA.NS) to 'neutral' from 'buy', saying the Indian auto maker's valuations of 15.5 times fiscal 2014 earnings have priced in expectations of improving market share.

The downgrade comes even as Nomura says it still believes Bajaj Auto can continue to beat market leader Hero MotoCorp (HROM.NS) over the next few months.

Bajaj Auto has gained 30.8 percent so far this year versus a 25 percent gain in the BSE Sensex and a fall of 2.2 percent in Hero MotoCorp.
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