Ranbaxy Laboratories has filed a consent decree with a US court as part of its settlement with the American authorities regarding a ban on certain manufacturing plants operated by the company in India. The company announced that the consent decree with the US Food and Drug Administration that was signed on 20 December 2011, has been filed with the United States District Court for the District of Maryland. Under the terms of the consent decree, which is subject to approval by this court, Ranbaxy has committed to further strengthen procedures and policies to ensure data integrity and to comply with current good manufacturing practices, the statement said.
In 2008, the USFDA had banned 30 generic drugs produced by Ranbaxy at its Dewas (Madhya Pradesh) and Paonta Sahib and Batamandi unit in Himachal Pradesh, citing gross violation of approved manufacturing norms. In the same year, the US Department of Justice had moved a motion against the company in a local court alleging forgery of documents and fraudulent practice. A consent decree is a settlement of a lawsuit or criminal case in which a person or company agrees to take specific actions without admitting fault or guilt for the situation that led to the lawsuit.
Infosys is reportedly being investigated in Texas over its sponsorship and use of short-term US business visas. Infosys is being probed by the US Attorneys Office for the eastern district of Texas in connection with a subpoena it received after one of its employees filed a lawsuit against the company last year. The suit alleged that the company used short-term business visit visas to circumvent the fewer and expensive work visas meant for high-skilled labor.
Bharat Heavy Electricals, NTPC, Bank of India, Canara Bank, Karur Vysya Bank, Bharat Electronics, NHPC, Petronet LNG, Pfizer, Swaraj Engines, Gujarat State Fertilizers & Chemicals, Tata Sponge Iron, Wyeth, Venus Remedies, Blue Star, Gujarat Alkalies & Chemicals, Hindusthan National Glass & Industries, Inox Leisure, Jyoti Structures, Lanco Industries, Mafatlal Industries, Rane (Madras) and Savita Oil Technologies, among others, will declare their October-December 2011 quarter results today, 27 January 2012.
Tata Coffee will enter the futures & options segment of the National Stock Exchange (NSE) today, 27 January 2012, with a lot size of 250 shares.
On a consolidated basis, Tata Communications reported a net loss of Rs 153.06 crore in Q3 December 2011, lower than net loss of Rs 181.38 crore in Q3 December 2010. Net sales rose 19.4% to Rs 3604.10 crore in Q3 December 2011 over Q3 December 2010.
On a consolidated basis, Sesa Goas net profit declined 35.1% to Rs 691.52 crore on 16.4% rise in net sales to Rs 2604.28 crore in the quarter ended December 2011 over the quarter ended December 2010.
On a consolidated basis, Oracle Financial Services Software net profit rose 7.3% to Rs 302.97 crore on 10.6% rise in net sales to Rs 815.92 crore in the quarter ended December 2011 over the quarter ended December 2010.
Indian Hotels Company net profit rose 0.38% to Rs 50.48 crore in the quarter ended December 2011 as against Rs 50.29 crore during the previous quarter ended December 2010. Sales rose 7.45% to Rs 521.48 crore in the quarter ended December 2011 as against Rs 485.34 crore during the previous quarter ended December 2010.
BEML net profit declined 20.45% to Rs 40.07 crore in the quarter ended December 2011 as against Rs 50.37 crore during the previous quarter ended December 2010. Sales declined 12.71% to Rs 574.50 crore in the quarter ended December 2011 as against Rs 658.18 crore during the previous quarter ended December 2010.
Alstom Projects India reported net loss to Rs 3.85 crore in the quarter ended December 2011 as against net profit of Rs 15.89 crore during the previous quarter ended December 2010. Sales rose 29.74% to Rs 475.82 crore in the quarter ended December 2011 as against Rs 366.76 crore during the previous quarter ended December 2010.
PTC India Financial Services net profit rose 914.01% to Rs 57.90 crore on 275.7% surge in operating income to Rs 89.68 crore in the quarter ended December 2011 over the quarter ended December 2010.
Muthoot Capital Services net profit rose 46.12% to Rs 3.39 crore on 67.6% rise in operating income to Rs 16.68 crore in the quarter ended December 2011 over the quarter ended December 2010.
Jay Shree Tea & Industries net profit declined 96.72% to Rs 0.65 crore in the quarter ended December 2011 as against Rs 19.79 crore during the previous quarter ended December 2010. Sales rose 31.50% to Rs 166.86 crore in the quarter ended December 2011 as against Rs 126.89 crore during the previous quarter ended December 2010.
Excel Crop Care net profit declined 85.43% to Rs 1.09 crore in the quarter ended December 2011 as against Rs 7.48 crore during the previous quarter ended December 2010. Sales rose 10.86% to Rs 160.77 crore in the quarter ended December 2011 as against Rs 145.02 crore during the previous quarter ended December 2010.
Deepak Fertilizers & Petrochemicals Corp net profit rose 23.32% to Rs 49.65 crore in the quarter ended December 2011 as against Rs 40.26 crore during the previous quarter ended December 2010. Sales rose 61.66% to Rs 598.67 crore in the quarter ended December 2011 as against Rs 370.33 crore during the previous quarter ended December 2010.
WABCO India net profit rose 20.53% to Rs 37.64 crore in the quarter ended December 2011 as against Rs 31.23 crore during the previous quarter ended December 2010. Sales rose 16.77% to Rs 246.17 crore in the quarter ended December 2011 as against Rs 210.82 crore during the previous quarter ended December 2010.
Surana Corporation net profit rose 114.98% to Rs 15.07 crore in the quarter ended December 2011 as against Rs 7.01 crore during the previous quarter ended December 2010. Sales rose 110.34% to Rs 2073.25 crore in the quarter ended December 2011 as against Rs 985.68 crore during the previous quarter ended December 2010.
Raj Television Network reported net loss to Rs 2.05 crore in the quarter ended December 2011 as against net loss of Rs 0.95 crore during the previous quarter ended December 2010. Sales rose 87.37% to Rs 13.94 crore in the quarter ended December 2011 as against Rs 7.44 crore during the previous quarter ended December 2010.
J B Chemicals & Pharamaceuticals reported net loss to Rs 5.17 crore in the quarter ended December 2011 as against net profit of Rs 38.12 crore during the previous quarter ended December 2010. Sales declined 30.98% to Rs 149.56 crore in the quarter ended December 2011 as against Rs 216.68 crore during the previous quarter ended December 2010.
Shipping Corporation of India has sold a handymax bulk carrier, admeasuring 1,817 deadweight tonnage (DWT) and handed over its physical delivery to its buyer.
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