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Many stocks of companies having exposure to Europe drop after Brexit vote
Jun 24,2016

Meanwhile, the S&P BSE Sensex was off 783.68 points or 2.90% at 26,218.54. Global stocks slumped after results from the UKs referendum on its European Union (EU) membership, dubbed Brexit, showed the country had voted to leave the trading bloc.

Shares of many non index constituents having a significant presence to Europe dropped on fear that Britains exit from the EU could destabilize the trade bloc and could adversely impact revenue from the region. Apollo Tyres (down 2.69%), Bharat Forge (down 2.81%), KPR Mill (down 3.41%), Motherson Sumi Systems (down 8.86%), Tata Global Beverages (down 3.04%), Hindalco Industries (down 5.73%), Torrent Pharma (down 3.01%) and Wockhardt (down 3.5%) declined.

Britain has been a member of the trading bloc since 1973. Voting in the referendum was concluded in a single day yesterday, 23 June 2016 and results of referendum were announced today, 24 June 2016.

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Mandhana Industries hits record low
Jun 24,2016

Meanwhile, the S&P BSE Sensex was off 1,066.13 points or 3.95% at 25,936.09, slumping along with the carnage witnessed in world financial markets after Britain voted to leave the European Union (EU) results showed Brexit Referendum.

On BSE, so far 1,356 shares were traded in the counter, compared with an average volume of 20,453 shares in the past one quarter. The stock was locked at a low of Rs 129.85 so far during the day, which is also record low for the stock. The stock hit a 52-week high of Rs 345 on 22 March 2016. The stock had underperformed the market over the past one month till 23 June 2016, slumping 54.77% compared with Sensexs 7.02% rise. The scrip had also underperformed the market in past one quarter, declining 50.57% as against Sensexs 6.57% rise.

The stock has slumped 54.1% in six sessions to its current ruling price of Rs 129.85 from its close of Rs 282.95 on 16 June 2016.

The small-cap company has equity capital of Rs 33.12 crore. Face value per share is Rs 10.

Mandhana Industries had issued a clarification on 21 June 2016 on business operations, demerger of retail business and continuity of Being Human Business. Shares of Mandhana Industries hit 20% lower circuit to settle at Rs 178.05 on that day. Mandhana Industries after receiving several queries with respect to its business operations, demerger of retail business, continuity of Being Human Business and the like in recent days had clarified that there is no disruption to its normal, ongoing business. The company has already received the approval to its scheme of demerger of the retail business from the High Court vide order dated 29 March 2016 and pursuant to the order, the company is in the process of demerging its current retail business into the resulting company, Mandhana Retail Ventures Limited. All current and future retail businesses of Mandhana Industries Ltd will henceforth be carried out in Mandhana Retail Ventures.

Subsequent to approval to the scheme, Mandhana Retail Ventures Limited is in the process of signing a new contract with the Being Human-The Salman Khan Foundation, the specifics of which are under negotiation with them. The company further clarified that the retail business of Being Human continues to do extremely well and plans are in place to ensure robust growth in the business, going forward.

Textile company Mandhana Industries is associated with Salman Khans NGO Being Human. It has an exclusive licence agreement with Being Human - the Salman Khan Foundation - for designing, marketing and distributing Being Human clothing products.

Net profit of Mandhana Industries rose 3.8% to Rs 15.93 crore on 5.9% rise in net sales to Rs 472.27 crore in Q4 March 2016 over Q4 March 2015.

Mandhana is a multi divisional textile company spread over multiple geographical locations. The company engages in manufacturing of textiles and garments with state-of-the-art infrastructure. The scope of Mandhanas business includes designing, yarn dyeing, weaving, processing, printing and garment manufacturing.

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Goa Carbon slides after temporary shutdown of Bilaspur plant
Jun 24,2016

The announcement was made after market hours yesterday, 23 June 2016.

Meanwhile, the S&P BSE Sensex was down 1,004.76 points or 3.72% at 25,997.46.

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 71,649 shares in the past one quarter. The stock hit a high of Rs 87.75 and a low of Rs 85.30 so far during the day. The stock had hit a 52-week high of Rs 107.45 on 8 June 2016. The stock had hit a 52-week low of Rs 62.10 on 17 February 2016. The stock had outperformed the market over the past one month till 23 June 2016, advancing 15.52% compared with Sensexs 7.02% rise. The scrip had also outperformed the market in past one quarter, gaining 24.76% as against Sensexs 6.57% rise.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Goa Carbon said that there would not be any financial impact due to the temporary shutdown of the companys Bilaspur unit as there is sufficient inventory to service the orders in hand.

Goa Carbon reported net profit of Rs 0.41 crore in Q4 March 2016, compared with net loss of Rs 7.62 crore in Q4 March 2015. Net sales rose 16.5% to Rs 67.01 crore in Q4 March 2016 over Q4 March 2015.

Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

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Sun Pharma gains as good share buyback price attracts investors interest
Jun 24,2016

The announcement was made before market hours today, 24 June 2016.

Meanwhile, the S&P BSE Sensex was off 971.62 points or 3.8% at 26,030.60 slumping along with the carnage witnessed in world financial markets after Britain voted to leave the European Union (EU) results showed after Brexit Referendum.

On BSE, so far 5.76 lakh shares were traded in the counter as against average daily volume of 5.43 lakh shares in the past one quarter. The stock hit a high of Rs 765 and a low of Rs 734.10 so far during the day. The stock had hit a 52-week high of Rs 965.15 on 20 August 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 23 June 2016, falling 4.16% compared with Sensexs 7.02% rise. The scrip had also underperformed the market in past one quarter, declining 11.21% as against Sensexs 6.57% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

Sun Pharmaceutical Industries said that the company will buyback upto 75 lakh shares at a price of Rs 900 each. The buyback is being undertaken by the company to return surplus funds to the equity shareholders and thereby, enhancing the overall returns to shareholders. The buyback price is 19.73% premium to the closing price of Rs.751.70 yesterday, 23 June 2016. The record date for the buyback is 15 July 2016. The promoters of the company have indicated their intention to participate in the proposed buyback in such a manner that their aggregate shareholding percentage in the company will not fall below their current aggregate percentage shareholding.

Sun Pharmaceutical Industries (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Omax Autos gains after securing order
Jun 24,2016

The announcement was made after market hours yesterday, 23 June 2016.

Meanwhile, the S&P BSE Sensex was down 979.69 points or 3.63% at 26,022.53.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 6,640 shares in the past one quarter. The stock was volatile. The stock rose as much as 3.88% at the days high of Rs 66.80 so far during the day. The stock lost as much as 2.41% at the days low of Rs 62.75 so sar during the day. The stock had hit a 52-week high of Rs 94 on 1 January 2016. The stock had hit a 52-week low of Rs 40 on 26 June 2015. The stock had underperformed the market over the past one month till 23 June 2016, advancing 4.55% compared with Sensexs 7.02% rise. The scrip had also underperformed the market in past one quarter, gaining 3.46% as against Sensexs 6.57% rise.

The small-cap company has equity capital of Rs 21.39 crore. Face value per share is Rs 10.

Omax Autos said that the formal purchase order would be received by the company in due course of time.

Omax Autos net profit declined 30.8% to Rs 4.61 crore on 2.9% growth in net sales to Rs 260.84 crore in Q4 March 2016 over Q4 March 2015.

Omax Autos is one of the leading manufacturers of auto and non-auto components in India. The company specializes in sheet metal components, tubular components and machined components.

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Maruti drops as Japanese yen strengthenes against the dollar
Jun 24,2016

Meanwhile, the S&P BSE Sensex was down 970.37 points or 3.59% at 26,031.85.

On BSE, so far 94,000 shares were traded in the counter as against average daily volume of 78,442 shares in the past one quarter. The stock hit a high of Rs 4,071 and a low of Rs 3,868.10 so far during the day. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had underperformed the market over the past one month till 23 June 2016, advancing 6.42% compared with Sensexs 7.02% rise. The scrip had, however, outperformed the market in past one quarter, gaining 11.43% as against Sensexs 6.57% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

A strong yen adversely impacts Maruti Suzuki Indias (Maruti) operating profit margin. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.

Maruti Suzuki Indias net profit declined 11.7% to Rs 1133.60 crore on 12.5% growth in net sales to Rs 14929.50 crore in Q4 March 2016 over Q4 March 2015.

Maruti is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 March 2016).

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Realty, Industrials indices lead losses from sectoral indices on BSE
Jun 24,2016

Meanwhile, the S&P BSE Sensex was off 991.44 points or 3.67% at 26,010.78 slumping along with the carnage witnessed in world financial markets after outcome of Brexit referendum vote today, 24 June 2016 suggested Britain voted to leave the European Union (EU). Investors are worried that Brexit from EU will have serious implications on the global economy.

Britain has voted to leave the European Union based on voter tallies from todays 24 June 2016, referendum, an outcome that would set the country on an uncertain path and deal the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as counting from 374 of 382 areas showed a 51.7/48.3 split for leaving. Quitting the EU could cost Britain access to the EUs trade barrier-free single market and mean it must seek new trade accords with countries around the world. Risk assets were scorched as investors fled to the safety of top-rated government debt. The currencies collapsed with British Pound Sterling and Euro witnessing a free fall against the dollar.

All the nineteen sectoral indices on BSE were in the red. The S&P BSE Realty index (down 6.07%), the S&P BSE Industrials index (down 5.84%), the S&P BSE Bankex (down 5.08%), the S&P BSE Auto index (down 5.37%), the S&P BSE Finance index (down 4.34%), the S&P BSE Metal index (down 5.58%), the S&P BSE Capital Goods index (down 4.89%), and the S&P BSE Basic Materials index (down 4.62%) underperformed the Sensex.

The S&P BSE Healthcare index (down 2.12%), the S&P BSE Oil & Gas index (down 2.88%), the S&P BSE FMCG index (down 2.05%), the S&P BSE Consumer Durables index (down 2.15%), the S&P BSE Energy index (down 3.27%), the S&P BSE IT index (down 3.42%), the S&P BSE Consumer Discretionary Goods & Services index (down 3.18%), the S&P BSE Teck index (down 3.36%), the S&P BSE Power index (down 3.37%), the S&P BSE Utilities index (down 3.09%), and the S&P BSE Telecom index (down 3.47%) outperformed the Sensex.

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Metal stocks decline on slump in copper prices
Jun 24,2016

Tata Steel (down 8.9% at Rs 304.05), Vedanta (down 8.97% at Rs 115.15), Hindalco Industries (down 7.71% at Rs 114.30), Jindal Steel & Power (down 6.32% at Rs 61.50), Steel Authority of India (down 6.14% at Rs 41.25), Hindustan Copper (down 3.74% at Rs 50.15), Hindustan Zinc (down 3.64% at Rs 168.25), JSW Steel (down 3.63% at Rs 1,349.55), NMDC (down 2.4% at Rs 89.45) and National Aluminium Company (down 0.85% at Rs 41) edged lower.

High Grade Copper for July 2016 delivery was currently down 3.58% at $2.085 per pound on the COMEX.

Meanwhile, the S&P BSE Metal index was down 483.31 points or 5.69% at 8,011.24. It has underperformed the Sensex which was down 1,022.97 points or 3.79% at 25,979.25.

The BSE Metal index had outperformed the market over the past one month till 23 June 2016, advancing 14.29% compared with Sensexs 7.02% rise. The index had also outperformed the market in past one quarter, gaining 11.14% as against Sensexs 6.57% rise.

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Oil E&P stocks slide alongside drop in global crude oil prices
Jun 24,2016

Meanwhile, the S&P BSE Sensex was off 901.14 points or 3.34% at 26,101.08 dropping along with carnage in world financial markets after results of Brexit referendum vote suggested Britains exit from the European Union.

Cairn India (down 4.05%), ONGC (down 3.9%), Oil India (down 2.22%) and Reliance Industries (RIL) (down 3.33%) dropped.

Lower crude oil prices will result in lower realization from crude oil sales for oil exploration & production (E&P) firms.

Britain has voted to leave the European Union based on voter tallies from todays 24 June 2016, referendum, an outcome that would set the country on an uncertain path and deal the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as counting from 304 of 382 areas showed a 51.5/48.5 split for leaving. Quitting the EU could cost Britain access to the EUs trade barrier-free single market and mean it must seek new trade accords with countries around the world. Risk assets were scorched as investors fled to the safety of top-rated government debt. The currencies collapsed with British Pound Sterling and Euro witnessing a free fall against the dollar.

Crude oil futures also witnessed selling pressure after Britain chose to leave European Union. Brent for August 2016 settlement was currently off $2.80 per barrel at $48.11 a barrel. The Brent August contract had risen $1.03 a barrel or 2.06% to settle at $50.91 a barrel yesterday, 23 June 2016.

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Tata Motors, Tata Steel tumble on reports of vote in favour of Brexit
Jun 24,2016

Tata Motors (down 9.4% to Rs 442.15) and Tata Steel (down 6.4% at Rs 312.40) edged lower.

Meanwhile, the S&P BSE Sensex was down 811.63 points or 3.01% at 26,190.59.

Media reports suggested that the United Kingdom (UK) has voted to leave the European Union (EU) by a 52%-48% margin popularly referred to as Brexit.

Tata Motors derives majority of its revenue from its British luxury car unit Jaguar Land Rover (JLR). JLR is the largest automotive manufacturer in Britain. It is one of the UKs largest exporters and generates over 80% of its revenue from exports.

Tata Motors consolidated net profit jumped 201.6% to Rs 5177.06 crore on 18.8% growth in net sales to Rs 79926.12 crore in Q4 March 2016 over Q4 March 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. Tata Steel Europe has initiated the process to sell its UK business viz. Tata Steel UK. Tata Steel Europe has invited seven short listed potential investors to submit binding bids for Tata Steel UK.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016 compared with net loss of Rs 5674.29 crore in Q4 March 2015. Net sales fell 12.5% to Rs 29164.37 crore in Q4 March 2016 over Q4 March 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.

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IT stocks drop as referendum outcome suggests Brexit from EU
Jun 24,2016

Meanwhile, the S&P BSE Sensex was down 781.50 points or 2.87% at 26,227.68.

TCS (down 2.41%), MphasiS (down 4.01%), HCL Technologies (down 4.61%), Tech Mahindra (down 3.85%), Oracle Financial Services Software (down 2.42%), Wipro (down 2.09%), Infosys (down 2.23%), Persistent Systems (down 4.6%), MindTree (down 3.01%) and Hexaware Technologies (down 2.34%) edged lower. The UK is the second biggest IT outsourcing market after the United States for the IT companies.

Carnage came to world markets today, 24 June 3016 as early voting returns on the Brexit referendum suggested Britain was on the brink of leaving the European Union, threatening the existence of the entire bloc and its single currency. Risk assets were scorched as investors fled to the safety of top-rated government debt. The currencies collapsed with British Pound Sterling and Euro witnessing a free fall against the dollar.

Early official results showed the margins were nail-bitingly tight but pointing to a Leave. Betting firm BetFair estimated the probability of leaving as high as 74 percent. With half of 382 counting areas declared, the Leave camp was put at 51.3% against 48.7% for Remain,

Meanwhile, in the foreign exchange market, the rupee dropped below 68 mark against the dollar. The partially convertible rupee was hovering at 68.16, compared with its close of 67.25 during the previous trading session. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lions share of revenue from exports.

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Bank of India gains after raising capital
Jun 23,2016

The announcement was made during market hours today, 23 June 2016.

Meanwhile, the S&P BSE Sensex was up 238.24 points or 0.89% at 26,996.96.

On BSE, so far 4.82 lakh shares were traded in the counter as against average daily volume of 6.56 lakh shares in the past one quarter. The stock hit high of Rs 96.80 and low of Rs 95.45 so far during the day. The stock had hit a 52-week high of Rs 187.75 on 17 August 2015. The stock had hit a 52-week low of Rs 78.60 on 25 May 2016. The stock had outperformed the market over the past one month till 22 June 2016, rising 17.6% compared with Sensexs 5.79% rise. The scrip had, however, underperformed the market in past one quarter, declining 2.45% as against Sensexs 5.67% rise.

The mid-cap state-run bank has equity capital of Rs 934.03 crore. Face value per share is Rs 10.

Bank of India said that the bonds have been rated AA- by Brickwork and A+ by CRISIL and bear coupon rate of 11.5% per annum.

Bank of India reported a net loss of Rs 3587.09 crore in Q4 March 2016, higher than net loss of Rs 56.14 crore in Q4 March 2015. The banks total income fell 7.3% to Rs 11384.91 crore in Q4 March 2016 over Q4 March 2015.

The Government of India held 70.33% stake in Bank of India (as per the shareholding pattern as on 4 May 2016).

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Sharon Bio-Medicine extends rally
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 227.25 points or 0.85% at 26,992.90.

On BSE, so far 10.07 lakh shares were traded in the counter as against average daily volume of 1.34 lakh shares in the past one quarter. The stock hit a high of Rs 13.40 and a low of Rs 11.65 so far during the day. The stock had hit a 52-week high of Rs 32.55 on 16 December 2015. The stock had hit a 52-week low of Rs 8.40 on 2 June 2016. The stock had underperformed the market over the past one month till 22 June 2016, advancing 3.57% compared with Sensexs 5.79% rise. The scrip had also underperformed the market in past one quarter, gaining 0.61% as against Sensexs 5.67% rise.

The small-cap company has equity capital of Rs 23.79 crore. Face value per share is Rs 2.

Shares of Sharon Bio-Medicine have rallied 31.68% in two trading sessions from its close of Rs 9.69 on 21 June 2016, after the company after market hours on 21 June 2016, announced that its board has decided to introduce more profitable products and increase capacity utilization. The stock surged by the maximum permissible level of 20% to settle at Rs 11.62 yesterday, 22 June 2016.

Sharon Bio-Medicines board of directors at its meeting held on 21 June 2016, discussed the current financial position of the company and decided to introduce more profitable products, increase capacity utilization and get the business to move in the regulated markets specifically the United States of America.

On consolidated basis, Sharon Bio-Medicine reported net loss of Rs 153.73 crore in Q3 March 2016, higher than net loss of Rs 56.43 crore in Q3 March 2015. Net sales declined 72.6% to Rs 35.77 crore in Q3 March 2016 over Q3 March 2015.

Sharon Bio-Medicine is engaged in manufacture of intermediates, active pharmaceutical ingredients (API) and finished dosage forms

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Jain Irrigation surges on foreign brokerage upgrade
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 188.79 points or 0.71% at 26,954.44.

On BSE, so far 10.45 lakh shares were traded in the counter as against average daily volume of 4.67 lakh shares in the past one quarter. The stock hit a high of Rs 71.55 and a low of Rs 69.40 so far during the day. The stock had hit a 52-week high of Rs 79 on 23 July 2015. The stock had hit a 52-week low of Rs 47 on 17 February 2016. The stock had underperformed the market over the past one month till 22 June 2016, advancing 4.69% compared with Sensexs 5.79% rise. The scrip had, however, outperformed the market in past one quarter, surging 18.3% as against Sensexs 5.67% rise.

The mid-cap company has equity capital of Rs 91.44 crore. Face value per share is Rs 2.

The foreign brokerage reportedly expects a 70% compound annual growth rate (CAGR) in earnings of Jain Irrigation Systems (JISL) over FY 2017-19. The brokerage reportedly stated that leverage has been a key concern for investors, but the company has now recapitalised its balance sheet with lower interest costs which is expected to boost its earnings. The foreign brokerage also cited other favorable factors for the company such as expectation of a better monsoon and an increasing central & state government thrust on micro irrigation systems (MIS) after two consecutive years of drought.

On consolidated basis, Jain Irrigation Systems net profit fell 8.9% to Rs 89.78 crore on 1% decline in net sales to Rs 1988.99 crore in Q4 March 2016 over Q4 March 2015.

Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Sun Pharma gains ahead of board meet to consider share buyback
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 64.23 points or 0.24% at 26,789.83.

On BSE, so far 3.09 lakh shares were traded in the counter as against average daily volume of 5.33 lakh shares in the past two weeks. The stock hit a high of Rs 757.40 and a low of Rs 742.35 so far during the day. The stock had hit a 52-week high of Rs 965.15 on 20 August 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 22 June 2016, falling 6.58% compared with Sensexs 5.79% rise. The scrip had also underperformed the market in past one quarter, declining 12.34% as against Sensexs 5.67% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

Sun Pharmaceutical Industries (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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