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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Wed Mar 6, 2013 9:51am IST 

* Shares in India's Larsen & Toubro Ltd gain 1.7
percent after Goldman Sachs upgrades the stock to "buy" from
"neutral".
* Goldman cites cheaper valuations after L&T's recent
under-performance against the broader index and the prospect of
stable revenue growth over the medium term.
* The investment bank also notes the government is expected to
fast track an estimated $30 billion worth of infrastructure
projects in fiscal 2013/14, while also pointing to other
supportive factors such as an expected lower cost of financing.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
India Markets
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