
Ranbaxy blames rivals for fall
Malvinder Singh, chairman and managing director of Ranbaxy Laboratories, on Wednesday blamed corporate rivals for this week's sharp plunge in his company's share price, saying a multinational company was behind the hammering.
Ranbaxy shares fell almost a quarter through Monday and Tuesday after news reports said the US Federal Drug Administration had ordered a probe into allegations of substandard drugs being sold by the company in the US.
“A multinational company and a leading Indian company along with some brokers are deliberately spreading rumours in the wake of a motion filed in the U.S. so that its share price come down and they can corner the company shares,” Singh said.
Singh refused name the companies, but his comments helped Ranbaxy shares stage a comeback in Wednesday's trading with a gain of about 15 per cent.
Some reports had suggested that the US probe could have bearing on a planned sale of the promoters' stake in Ranbaxy to Japanese drug maker Daiichi Sankyo. Singh said "the deal with Daiichi Sankyo is binding and remains on track. There is no exit clause in the agreement.”

Virus fears return to haunt markets

HCL Tech Dec qtr profit jumps 27% to Rs.3,982 crore

India’s trade deficit at 25-month high in Dec

How to check income tax refund status online. Read here
- Income tax refund (ITR) status can be checked on the National Securities Depository Limited (NSDL) website as well as on the income tax department’s e-filing site.

US industrial production jumps 1.6 per cent in December

Signal sees global outage, company says 'working hard to restore service'

Messaging app Signal experiencing technical difficulties

Bengaluru emerges as world’s fastest growing tech hub, London second: Report

SC asks Govt's, 61 firms' reply on PIL alleging duty evasion in iron ore exports

PVR reports net loss of ₹49 crore in Q3

DGCA issues guidelines on carrying cargo in passenger compartment of aircraft

Stuck in Kent: How Brexit red tape strangled cross-border trade

UK prepares for another recessions as lockdowns cripple economy
- Because of the November fall, the economy is set to contract again in the fourth quarter.

Banks in Europe yet to fully feel pandemic’s impact, warns ECB
