Drug Safety Settlement
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
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
HUL shares fall on slew of downgrades
MUMBAI (Reuters) - Shares in Hindustan Unilever extend their fall on Wednesday after a number of investment banks, including Credit Suisse and Nomura, cut their ratings on slower-than-expected volume growth and a hike in royalty payments.
On Tuesday, Hindustan Unilever Ltd (HUL), India's largest consumer goods maker, reported a 16 percent jump in third-quarter net profit, and reported low volume growth and a rise in royalty payments.
At 1:53 p.m., the shares were down 4.85 percent at 457.60 rupees, after falling nearly 7 percent in trade earlier.
(Reporting by Manoj Dharra and Abhishek Vishnoi; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this