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Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

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Strides Arcolab shares sink on dividend worries

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MUMBAI | Thu Feb 28, 2013 9:51am IST

MUMBAI (Reuters) - Shares in drugmaker Strides Arcolab (STAR.NS) plummeted about 10 percent on Thursday, wiping out early gains following its sale of a unit to Mylan (MYL.O) for $1.6 billion, as investors were unhappy with Strides' dividend payout, traders said.

The shares had initially gained as much as 13.2 percent.

The company declared a 20 percent dividend, or 2 rupees per share, for 2012.

Strides' injectables unit Agila Specialties generated $700 million in sales and an operating profit of $86 million in year 2012, Strides said.

The Bangalore-based drugmaker said it planned to spend $700 million to $800 million at pretax level on shareholders.

Valued at $1.1 billion, shares in Strides Arcolab were down 8.5 percent at 902.95 rupees by 9:51 a.m. when the Mumbai market was up 0.55 percent.

(Reporting by Kaustubh Kulkarni; Editing by Gopakumar Warrier)
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