Indian benchmark indices post fresh record high closing on Friday
Mumbai, Jan 5 (IBNS): Indian benchmark indices ended at fresh record closing high on Friday, with BSE Sensex up 184.21 points at 34,153.85 and NSE Nifty up 54.10 points at 10,558.90.
Top gainers included Idea Cellular, Yes Bank, IndusInd Bank, Bajaj Finance, Adani Ports, Dr Reddy's Labs and Bharti Airtel while Bhati Infratel, Hindalco, ONGC, Tata Motors (D), UPL, HPCL and BPCL were some of the key stocks that declined.
Infosys Limited announced on Friday that it will announce the results of its third quarter ended December 31, 2017 on Friday, Jan 12, 2018, around 3.45pm IST.
Meanwhile, the Union Ministry of Corporate Affairs said on Friday that the Competition Commission of India has found the Chemists and Druggists Association of Baroda (CDAB) and Federation of Gujarat State Chemists and Druggists Association (Gujarat Federation) to be in contravention of the provisions of the Competition Act, 2002.
After detailed inquiry, the Commission has found that CDAB and the Gujarat Federation were indulging in the anti-competitive practice of insisting NOC prior to the appointment of new stockists by pharmaceutical companies.
Further, the Gujarat Federation was found to be carrying on the practice of making introduction of new products in the market subject to payment of PIS charge and its approval.
The regulator has not only directed CDAB, Gujarat Federation and their office bearers, to cease and desist from indulging in the aforesaid anti-competitive practice but also imposed a monetary penalty of Rs. 1,08,588 and Rs. 11,11,549 on CDAB and the Gujarat Federation, respectively, as well as imposed penalties of Rs. 34,048 and Rs. 62,144 upon V.T. Shah (President, CDAB) and Jashvant Patel (President, Gujarat Federation), respectively.
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