Connect with us

Top News

Sun Pharma ends 2% higher on Sensex (Lead)

Published

on

Mumbai, Jan 21 (IANS) After a heavy sell-off by the end of last week, stocks of Sun Pharma closed nearly 2 per cent higher on Monday after the company claimed the reports against it of unfair business practices were asymmetrical and asked market regulator SEBI to examine the issue.

Sun Pharma stocks which ended at the bottom five among the 30 stocks on Sensex last week, closed with third highest gains on Monday.

It closed at Rs 398.35 a share gaining 1.94 per cent from its previous close of Rs 390.75.

On an intra-day basis it touched a high of Rs 406.35, rising by 4 per cent from the previous close.

“Continuing with the momentum from the last hour of trade on Friday, the stock price of Sun Pharma rose in the first hour of trade on Monday. After remaining in a range till about 2 p.m, it slid and gave up part of the gains to close 1.9 per cent higher (down from 4 per cent increase at the day’s high) on Monday,” said Deepak Jasani of HDFC Securities.

According Jasani, stock prices soared earlier in the day due to bargain buying, and as they touched the day’s high some investors took to selling which resulted in a drawing back in gains.

“Investors are hoping for clarification from the company on allegations of loans to related parties, transactions with related parties, investment in real estate, low tax payouts in the past etc,” he said.

Jasani, however, said although all the allegations in the latest whistleblower complaint may not be right, as long as the company refuses to come clean and set its house right in a predefined time period, investors could remain hesitant to take a large exposure to the stock.

The pharmaceutical major had written to the Securities and Exchange Board of India on Friday claming there is “great asymmetry in information circulating between analysts, investors and the media”.

Sun Pharma lost the most in the previous week. It logged its higgest fall on Friday — its biggest fall in over two years — after a second whistleblower letter emerged, levelling allegations relating to corporate governance.

–IANS
ravi/vm

Continue Reading

Top News

Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

Published

on

By

World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

Continue Reading

Trending