A meeting of the Congress working committee is underway on November 11 morning to decide on whether to support the Shiv Sena in forming the government in Maharashtra, sources said.Top Congress leaders are discussing the issue at a crucial meeting of the working committee chaired by party chief Sonia Gandhi, according to the sources.The CWC is the highest decision-making body of the Congress.Close Follow our LIVE blog for the latest updates on government formation in Maharashtra related news If BJP not keeping promise, no point continuing alliance: Sanjay Raut Malaysian court tells former PM Najib Razak to defend himself in 1MDB-linked case Hectic deliberations have started since November 10 over the Congress' participation in government formation in Maharashtra after the Shiv Sena was invited by the governor to form the government.Senior Shiv Sena leader Sanjay Raut on November 11 said if the BJP was not willing to fulfil its promise of sharing the chief minister's post … [Read more...] about Congress meet underway to decide on supporting Shiv Sena
Shares of Amber Enterprises India gained 2.8 percent intraday on November 11 after reporting a strong set of earnings in the September quarter.The stock has rallied more than 40 percent in the last nine months. It was quoting at Rs 987, up Rs 13.60, or 1.40 percent, on the BSE at 1042 hours IST.Amber, the prominent solution provider for air conditioner OEM/ODM, continued its strong performance, beating revenue estimate by 10 percent. The Room Air Conditioner (RAC) volumes grew at an impressive 127 percent YoY, as continued demand for RACs even in a lean season and new customers supported the growth.Close The skew in product mix toward Indoor Units (IDUs) led to lower gross margins, which in turn restricted EBITDA growth. The operating performance of subsidiaries was encouraging, with better performance on the margin front. related news Bull run intact? Experts say Moody's India downgrade may only have short-term implications Eicher Motors Q2 FY20: Weak numbers, … [Read more...] about Amber Enterprises reports strong Q2 earnings; should investors buy, sell or hold?
A Malaysian court on November 11 ordered former Prime Minister Najib Razak to present his defence against seven counts of criminal breach of trust, money laundering and abuse of power in a case linked to a scandal surrounding state fund 1MDB.Najib, who lost a general election last year, faces dozens of criminal charges over accusations that $4.5 billion was stolen from 1Malaysia Development Bhd (1MDB), which he co-founded in 2009.In the first case facing him, Najib has pleaded not guilty to three counts of criminal breach of trust, three counts of money laundering and one count of abuse of power for allegedly receiving illegal transfers of 42 million ringgit ($10 million) from SRC International, a former 1MDB unit.Close "SRC has been wrongfully deprived of the 42 million," Kuala Lumpur High Court judge Mohamad Nazlan Mohamad Ghazali said. "As such, I now call upon the accused to enter his defence on all seven charges." related news Japan's SBI Holdings to take 17.9% … [Read more...] about Malaysian court tells former PM Najib Razak to defend himself in 1MDB-linked case
Emerging markets fund manager and founder of Mobius Capital Partners LLP, Mark Mobius, is positive on India and China. "India and China will continue to drive growth higher in emerging markets," he says."Because of India and China and some other countries, the growth of EMs is double that of developing countries and it is unlikely that it will change any time soon," he said in an interview with CNBC-TV18's Manisha Gupta.Talking specifically about India, he said he is upbeat on domestic-oriented manufacturing of infrastructure, consumer-spending, as per capita income is going up.Close However, he said the Indian government needs to take certain measures to push growth. He said the number one issue was infrastructure spending. related news Market Headstart: Nifty50 seen opening flat; Maruti, Ashok Leyland eyed Early on D-Street | Close below 11,850 will take Nifty towards 11,820-11,720 What changed for the market while you were sleeping? Top 12 things to know “India has … [Read more...] about Mark Mobius bullish on gold, asks India to issue bonds for growth
Shares of Glenmark Pharma added more than 1 percent intraday on November 11 after the company received final approval from the United States Food & Drug Administration (USFDA).Glenmark Pharmaceuticals Inc., USA has been granted final approval by the USFDA for Adapalene and Benzoyl Peroxide Gel, 0.1%|2.5%, the generic version of Epiduo1 Gel, 0.1%|2.5%, of Galderma Laboratories L.P.The Epiduo Gel market achieved annual sales of approximately $33.7 million, as per IQVIATM sales data for the 12 month period ending September 2019.Close The company's current portfolio consists of 163 products authorised for distribution in the US marketplace and 45 ANDA’s pending approval with the US FDA. related news Bank of Baroda shares jumps 5% despite mixed reviews from brokerages Nila Infrastructures share price surges 11% on Rs 50 cr order win In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and … [Read more...] about Glenmark Pharma share price gains on final approval from USFDA