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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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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BSE Sensex falls; ICICI Bank earnings key

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A trader looks at a screen at a stock brokerage firm in Mumbai March 7, 2008. REUTERS/Arko Datta/Files

A trader looks at a screen at a stock brokerage firm in Mumbai March 7, 2008.

Credit: Reuters/Arko Datta/Files

Thu Jan 31, 2013 10:45am IST

Reuters Market Eye - The BSE Sensex is down 0.23 percent and the 50-share Nifty is down 0.15 percent. Trading is expected to remain volatile as Thursday is last day of derivatives expiry when traders roll over derivatives position to February series.

ICICI Bank Ltd(ICBK.NS) shares down 0.75 percent ahead of December quarter earnings. Barclays has upgraded it to 'overweight' from 'equalweight' on positive credit quality outlook.

Colgate Palmolive India Ltd(COLG.NS) shares fall 2 percent after reporting lower-than-expected volume growth at 8 percent, the lowest in the past 15 quarters.

However, Power Finance Corp Ltd (PWFC.NS) shares gain 2.6 percent after reporting a sharp improvement in margins in the October-December quarter earnings.

Indexes are heading for a third straight month of gains, the longest winning run since September 2010 when indexes gained 4 months in a row.

(Reporting by Manoj Dharra)
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