World
Johnson & Johnson loses second ovarian cancer case, must pay $55mn
Washington : Pharmaceutical giant Johnson & Johnson has lost its second legal battle in a row over its talcum powder which allegedly causes cancer. The company must now pay $55 million to a woman who says she got ovarian cancer after using the product.
 
Less than four months after losing a $72 million case in the same St. Louis, Missouri, courthouse, Johnson & Johnson was ordered to pay $5 million in compensation and $50 million in punitive damages to Gloria Ristesund.
 
The 62-year-old South Dakota woman was diagnosed with cancer in 2011, which she stated was “a direct and proximate result of the unreasonably dangerous and defective nature of talcum powder” which she used for almost 40 years. Ristesund’s cancer is currently in remission, since she underwent a hysterectomy and related surgeries.
 
Ristesund has also accused J&J of “wrongful and negligent conduct in the research, development, testing, manufacture, production, promotion distribution, marketing, and sale of talcum powder”.
 
Ristesund was one of over 60 plaintiffs who filed a class-action lawsuit against J&J, its supplier Imerys Talc America Inc and Personal Care Products Council, accusing them of “wrongful conduct” that caused their cancers, RT news reported.
 
J&J was planning to appeal the verdict. Company spokeswoman Carol Goodrich argued that the jurors’ 9-3 decision in favour of Ristesund contradicted 30 years of research. One of the world’s largest maker of health-care products, J&J has been denying any links between talc and ovarian cancer as well as any need to warn its consumers.
 
“Unfortunately, the jury’s decision goes against 30 years of studies by medical experts around the world that continue to support the safety of cosmetic talc," Goodrich said in a statement. 
 
“Johnson & Johnson has always taken questions about the safety of our products extremely seriously,” she added.
 
In February, J&J was ordered to pay $72 million in damages to the family of Jacqueline Salter Fox, who claimed that the company’s talcum powder caused the ovarian cancer that killed her within three years. That case was the first to result in money compensation.
 
In 2013, a federal jury in Sioux Falls, South Dakota, found that plaintiff Deane Berg’s ovarian cancer had been caused in part by Johnson & Johnson’s body powder, but Berg was not awarded any damages.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

QNet: Kirit Somaiya, MP demands quick action against the MLM
A former Minister and his family worked as advisors for QNet and the government needs to expedite inquiry and take immediate action, says Somaiya while raising the issue in the Parliament
 
With names of former minister of finance P Chidambaram and his wife Nalini Chidambaram coming out in the open as associated with QNet, the multi-level marketing (MLM) company in an investigation report, the issue has reached Indian Parliament as well. Kirit Somaiya, the member of Parliament (MP) from Mumbai has raised the issue of QNet Ponzi scheme and its investors in the Lok Sabha.
 
 
While raising the issue during the Zero Hour, the MP from Mumbai said, "Lacs of people lost money in another Ponzy-MLM scheme QNet, Gold Quest, QuestNet. The group also have connections in Hong Kong. Investors are not getting back money. Mumbai Economic Offences Wing (EOW) and Central Bureau of Investigation (CBI) to take action. Understood Former Minister, his Family worked as Advisors to QNet company. Need Government of India (GoI) to expedite inquiry and action."
 
QNet, the controversial, Hong Kong-based operator uses multiple names for its MLM scheme and GoldQuest, QuestNet, QNet, QI Ltd and QI group are some of its better known names. 
 
The EOW of Mumbai Police, which is probing the case, had invoked the stringent Maharashtra Protection of Interest of Depositors (MPID) Act against QNet, which has denied any wrongdoing on its part. In February 2016, the special MPID Court rejected anticipatory bail applications of Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is 20% stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and 80% stakeholder in Vihaan.
 
In February 2014, the ED registered a case under the prevention of money laundering act (PMLA) against QNet, Vihaan Direct Selling, Ferreira and QNet founder Vijay Eswaran and three other independent representatives (IRs) of the MLM operator.
 
According to Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri, who had filed a first information report (FIR) against QNet, the MLM scam may have cost the country about Rs7,000 crore since the money is being remitted abroad. 
 
QI group units were actually banned in 2009 while operating under the names of Goldquest International Pvt Ltd and QuestNet Enterprises India Pvt Ltd after a Police action. In India, it was registered as GoldQuest International India Pvt Ltd in 2001. Elsewhere, QuestNet Enterprises was registered in November 2004 in Chennai. Between them, they had offices at Bangalore, Mumbai and Hyderabad. 
 
In addition, the Ministry of Corporate Affairs in its report for 2010-11 has specifically shown both these companies as being under investigation by Serious Frauds Investigation Office (SFIO).

User

COMMENTS

gurupreet

4 weeks ago

QNET VICTIMS please beware of this shady character one Mr. Rafiq whose posing as an "High Court Advocate & RTI Activist" at various online web sites.

This guy is a sweet talker and will promise you refund from QNET if you appoint him as an advocate, he is doing nothing but cheating your further...here is his modus operandi...

He also claims to be behind several actions that have been taken place by mumbai police and FFVA but the FACT remains that he has nothing to do with any of these actions being taken all over India.

He will convince victims to appoint him as an ADVOCATE and thereafter tell victims to deposit Rs 50,000 in various bank accounts to show that he has been apponited.

He will promise that he will return back the money after showing that to QNET office but the FACT remains that after the money is transferred he will stop recieving your calls and vanish .

We have recieved multiple complaints against this FRAUD, please BEWARE you all have already been cheated dont get cheated again.

For your REFUNDS only follow the correct and LEGAL way to get your refunds along with compensation, for more info do drop us a email at [email protected]

FFVA i.e Financial Frauds Victims Association has been formed to help and provide legal aid to victims of QNET SCAM.

http://www.mid-day.com/articles/qnet-forms-financial-fraud-victims-forum-scam-gurupreet-singh-anand/17659179

Please stay away from crooks and fight for your legal rights in correct and proper way.

Regards
Gurupreet

gurupreet

5 months ago

GOOD NEWS...QNET VICTIMS IN MUMBAI...DEDICATED QUESTIONS & ANSWERS SESSION FOR QNET VICTIMS on Sunday 18th September 2016.

Ever since you lost your hard earned money in QNET SCAM, you all have multiple questions and facing multiple issues like :

1. Where and whom to approach for recovering your hard earned money?

2. How to help fight and stop this QNET SCAM?

3. How to teach your CHEATER UPLINES a lesson?

4. Issues regarding the “so called” “REFUND POLICY”.

5. Are you eligible for “Compensations”?

6. Issues regarding action buy police authorities.

7. What is the status of the court cases etc.

These are an example of just a few issues and concerns you are facing, but there is GOOD NEWS for you all. We have been working overtime to try and bring an end to these woes and issues faced by Victims of Financial Frauds like this QNETSCAM.

So guys and girls tomorrow is the BIG DAY finally , Please do join us tomorrow (Sunday) afternoon at 1.30 PM sharp at Andheri east, outside Sarangi Restaurant (Just 1 minute from the Andheri station on the east side).

Please do come and also inform other victims of the QNETSCAM.
Tomorrow (Sunday) afternoon sharp 1.30 PM, outside Sarangi Restaurant , Andheri-east, Mumbai.

Please note we have limited seats, first come first served basis allotment..so make sure to reach in time __/\__ . You can contact on 7498063701 in case of difficulty in locating us :)

Jai Hind.

jitu moni

6 months ago

http://timesofindia.indiatimes.com/city/hyderabad/4-persons-associated-with-MLM-company-arrested/articleshowprint/54204335.cms?null
Four persons, who were associated with Hong Kong-based QNET, a multi-level marketing (MLM) company, and duped 200 persons by promising them jobs, were arrested by Central Crime Station (CCS) officials on Thursday. However, the MD and directors of QNET and its sister company Vihaan Direct Selling are still at large.


Deputy commissioner of police (CCS) Avinash Mohanty said Sreenath Konda, Prasanna Kumar Reddy, V Kanchana, B Dhan Raj were arrested from different locations in the city for cheating people.


Police said the accused had been enrolling gullible people as agents by collecting Rs 10 lakh from a group of 10 persons.


Each person would be given status of promoter, direct them to attract a group (i.e., 10 persons) and make them join QNET by paying Rs 10 lakh, for which the promoter would be assured commission.

jitu moni

6 months ago

http://timesofindia.indiatimes.com/city/hyderabad/4-persons-associated-with-MLM-company-arrested/articleshowprint/54204335.cms?null
Four persons, who were associated with Hong Kong-based QNET, a multi-level marketing (MLM) company, and duped 200 persons by promising them jobs, were arrested by Central Crime Station (CCS) officials on Thursday. However, the MD and directors of QNET and its sister company Vihaan Direct Selling are still at large.


Deputy commissioner of police (CCS) Avinash Mohanty said Sreenath Konda, Prasanna Kumar Reddy, V Kanchana, B Dhan Raj were arrested from different locations in the city for cheating people.


Police said the accused had been enrolling gullible people as agents by collecting Rs 10 lakh from a group of 10 persons.


Each person would be given status of promoter, direct them to attract a group (i.e., 10 persons) and make them join QNET by paying Rs 10 lakh, for which the promoter would be assured commission.

jitu moni

6 months ago

http://zeenews.india.com/news/maharashtra/qnet-case-sc-directs-maharashtra-govt-to-file-latest-probe-report_1924693.html
Mumbai: The Supreme Court on Thursday directed the Maharashtra Government to file the latest status report regarding investigation so far on the anticipatory bail plea of World Billiards champion Michael Ferreira and four others, who are facing charges of money laundering in the multi-crore QNet case.

The next hearing in the matter will take place on September 14.

Besides Ferreira, the others whose anticipatory bail plea were rejected were Malcom Desai, Vanka Srinivas, Maganlal Balaji, all directors of M/s Vihaan Direct Selling (India) Pvt. Ltd, and Suresh Themiri, director of Transview Enterprises.
They are facing charges under Sections 420 (mischief), 468 (forgery), 471 (using forged document knowing it is not genuine) of the Indian Penal Code (IPC).

Justice Mridula Bhatkar of the Bombay High Court, who took on record the statement of public prosecutor Pradeep Gharat that investigations were still on, had in May rejected their anticipatory bail pleas.

Ferreira had started the operations of QNet, a multi-level marketing company, in India via his firm Vihaan Enteprises.

The QNet cheating case began with a complaint by Gurpreet Singh Anand, who raised his voice after losing Rs. 30,000.

According to the police, the money involved has crossed Rs. 1,000 crores in the alleged scam with more than five lakh investors allegedly losing their money in the case against QNet which is being probed by the Economic Offences Wing.
ANI

jitu moni

7 months ago

http://www.newsambit.com/eow-of-delhi-police-registered-case-against-qnet-india-and-its-irs/
NewsAmbit, New Delhi
Delhi Police Economic Offence Wing(EOW) has registered an FIR against QNET India/Vihaan Direct selling India Private Limited and its three independent representatives on the allegations of cheating and fraudulently operating the multi level marketing, which is illegal in India. Police have initiated the investigation and suspecting huge scam, which is estimated in crores.
A senior Police officer of EOW said that we received a combined complaint against QNET India and its three independent representatives from more than dozen of people in the month of March this year. As per the allegations of main complainant Anuj Jain alleged that his friend Himashu Aggarwal approached him for an business opportunity. He said that he is an independent representative(IR) of an e-commerce based company. He said that he can arrange an meeting with the other IR’s who will tell you about the business and if they find you suitable you will get chance to be a part of the company. After few days Himanshu called Anuj Jain to come with a CV at a café situated in Nehru Place area on 29 November 2015. Anuj reached there, where he met with Himanshu and his to associates Anita Jaggi and Kanika. Trio told him about the business profile and also assured that this is not a networking marketing company. They demanded Rs 6.5 lakh to be a member of the company. They also said that company has millions of customers. IR of the company is treated as a partner and also got the profit share for each sale. After three four days Anuj gave them 6.5 lakh rupees but after some time he got to know that this is a multi level marketing company and fraudulently cheating innocent persons by roping them in it’s banned business with the help of IRs.
Police said that Anuj is not the only complainant so many more complainants also approached to EOW. After which a preliminary enquiry had conducted. It was found that some persons who are termed as IR contact their friends and close persons to join a new e-commerce business. They don’t tell the name of the company or complete business module at the beginning. After alluring them they set various amounts from the victim. Independent Representatives(IR) get training during the joining and talk to make further members. These kinds of IRs of the company are operated from different cafes and food courts situated in Delhi and NCR.
Those who join the company get user id etc and products like ravel packages, some other items etc are shown purchase from their money. The delivery address given in the portal is also found of overseas area most of the time and mostly that address is too fake type location only which shows that no products are being sold and it is a completely a money circulation scheme. Two websites were found involved in the namely www.unetindia.in and www.cmetindia.net were found mated to Vihaan Direct selling (India) Pvt ltd which is stated Indian Franchisee of Hong Kong based net company. Investigations are on. Police are trying to unearth the whole network of the IRs on which this company is running its business unlawfully in Delhi. A case has been registered u/s 420/120B/34 IPC and 4/5/6 of Prize Chits and money circulation Schemes(Banning) Act,1978 .

Profiles of IRs
Himashu works with Samsung
Anita Jaggi works with RBS

jitu moni

9 months ago

Bluru QNet agent who earned 50L a yr as commission held
Mumbai: The Economic Offences Wing (EOW) has arrested Ram Singh, an accused in the Rs 1,000 crore QNet case, for earning Rs 50 lakh or more as commission each year from proceeds of the crime.

Singh, a Bengaluru resident, was arrested last week after the imigration authorities at Bangalore airport detained him over a look out circular notice (LOC) issued by the Mumbai police. "We are going through all his bank account details and trying to ascertain the source of money to his account," said DCP Pravin Padwal of the EOW.

Singh's name had cropped up during the initial investigation in 2013 but the police could not locate him then. In January 2015, a police team visited his Bengaluru residence but did not find him there. The house was locked. He is the 19th accused to be arrested in this case so far.

"We are working to arrest all the culprits in this case. A special investigation team has been formed to nab the othe accused invovled," said Dhananjay Kamalakar, joint police commissioner, EOW. Singh, said police sources, has been sending money to his daughter who is studying in Canada. "We have to know his source of income. He has sent a major chunk of money to Canada. We suspect this money was gained from QNet. Moreover, he was looking after the QNet business in Dubai and has been shuttling between Dubai and India. We got his passport number late. Soon after getting it, we issued an LOC notice and he was detained," said an officer.

A special MPIDA court in February this year rejected the anticipatory bail plea of Michael Ferreira (77) winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, and four others, Malcom Desai, Vanka Srinivas, Maganlal Balaji, all directors of M/s Vihaan Direct Selling (India) Pvt Ltd and Suresh Themiri, director Transview Enterprises. They all have approached the high court now in the QNet case.

"They posed as a marketing firm which would sell bio-discs, watches, herbal products, holiday packages, etc. They even claimed that by using the bio-disc, one can cure cancer and brain diseases," cops said. Some money has been transferred to Malayasia, Singapore and Hong Kong, too, cops added.

jitu moni

9 months ago


http://timesofindia.indiatimes.com/city/mumbai/EOW-to-now-probe-celebs-role-in-QNet/articleshow/52333087.cms
Mumbai: The city's economic offences wing (EOW) is now looking into allegations that several Bollywood celebrities campaigned for the cheat firm, QNet, through advetisements or by promoting the schemes of the self-proclaimed marketing firm.

Gurupreet Singh Anand, complainant in the Rs 1,000-crore QNet cheating case, on Wednesday said at least four Bollywood actors promoted the Ponzi schemes at different times in the QNet's promotional programs in United Kingdom and Malaysia. He has submitted a 23-page letter wherein he has attached the celebrities' pictures promoting the programs.

"I have submitted letter and all the relevant information to the EOW on May 12. I am hoping some action soon," Anand told TOI. He alleged that the money was laundered from India to Hong Kong and Malaysia.

Anand was speaking at a press conference where suddenly a group of QNet sympathisers appeared with "I trust QNet" placards.. They were later asked to leave the conference room.

atul gupta

9 months ago

Be ready to fight against QNET and all your uplines including friend.
QNET REFUND and FIGHT AGAINST QNET procedure as below.

1st Option
If your purchase on portal is in INR rupees then with in 30 days of purchase or if yur purchase is in USD dollar then with in 7 days you can send email to Qnet customer support for refund otherwise Qnet will deny you refund. Then go to 2nd option which all need to go for even after yu get refund to get QNET banned from INDIA and to save our brothers & sisters.

1. Get your IR ID first.It will come to your mail box once yur upline register yyr email id on portal. If email id is given wrong then call Qnet customer support numbers and complain about yur upline. Ask yur IR ID from them.

2. Send a cancellation mail to the support team of QNET with a subject line as "REFUND IN****". provinding all details of transactions and product details.Usually IR number will be like IN4444 and all. Attach scanned PAN CARD in the mail to them.
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]

3.Once this mail is sent, the support team will create a CRF number and sends to Hong Kong team for approvals for the refund request. It will take 15-20 working days for the approvals for refundrequest.

4.Meanwhile, mail them or call them on every alternative days for an update.
Numbers:
9900060061,62,64,68-veronica
9900060605-rekha,jasvinder kaur

5.Once Refund request is completed ,they ask for the mode of payment.Ecards or Account Money transfer. Better go for Money transfer to your account.If you opt for account transfer, then you have to send a scanned copy of your account cheque leaf.

6.After 20 working days, you will get your money refunded of the product to your bank account.

7.Rest of money left , you collect from your upline by filing complaint in local police station.

2nd Option
pls all go for 2nd option even if you get money refunded as per option 1 by QNET to ban QNET and save indians.

CATCH HOLD OF YOUR UPLINE GIVE COMPLAINT/FIR AGAINST HIM / HER AND ALL YOUR UPLINES IN LOCAL POLICE STATION NEAR TO YOUR HOME AND MENTION THE COMPANY NAME IN THE FIR THAT QNET IS RUNNING BANNED MONEY CIRCULATION SCHEME. Your uplines will return you money as you can not get refund from Qnet after one month is over if products purchased through indian portal and after 7 days if purchased from world portal of Qnet.
BEFORE GIVING COMPLIANT/FIR INFORM YOUR UPLINE & HIS GRAND UPLINE THAT YOU ARE GOING TO LODGE A COMPLAINT & GOING TO MEDIA, TAKE SOMEBODY HELP (YOUR PARENTS, CLOSE FRIENDS, LAWYER )and TAKE THEM WITH YOU TO ASSOCIATION OR WHERE THEY MEET EVERY DAY. SEE WHAT HE SAY'S,THEY WILL AGREE TO PAY, IF NOT THEN GO AHEAD FOR FIR/COMPLAINT IN ANY CASE.
Besides above process kindly lodge your complaint to THE DCP, ECONOMIC OFFENSES WING, MANDIR MARG, DELHI OR EOW MUMBAI also to BAN QNET FROM INDIA.
In your complaint attach uplines photos, mobile numbers, yur bank account statement if u transferred money from your account to upline account or cash deposit receipt, pan card, address proof, purchase receipts, gurupreet singh anand first FIR copy agnst Qnet scam and google news 5-6 against Qnet. MENTION IN YOUR COMPLAINT THAT MEETING TOOK PLACE AT MARKET NEAR TO YOUR HOME OTHERWISE POLICE WILL SEND YOU TO POLICE STATION OF THE PLACE WHERE YOUR ACTUAL MEETING TOOK PLACE.
File complaint at your nearby police station and EOW/Crime branch both in yur city to fight against QNET.
For any clarification whatsapp me at my number 9871853120.

Agyat Vyakti

10 months ago

Yes together we can destroy qnet.. To help people from trap of online ponzy schemes like qnet which will come in future. Alexa and online site statistics can save you. I reccomend you to read this to save yourself from emotional trap of friends and relative who work for qnet http://qnetindiascam.blogspot.in/ share it . I need to populate this.

Dev

10 months ago

ARTICLES/TV COVERAGE OF QNET

http://www.dnaindia.com/india/report-bombay-high-court-rejects-bail-of-micheal-ferreira-four-others-in-qnet-case-2210300

http://timesofindia.indiatimes.com/city/mumbai/HC-rejects-bail-of-Micheal-Ferreira-4-others-in-QNet-case/articleshow/52172539.cms

http://economictimes.indiatimes.com/news/politics-and-nation/hc-rejects-bail-of-micheal-ferreira-4-others-in-qnet-case/articleshow/52172931.cms

http://www.moneylife.in/article/qnet-kirit-somaiya-mp-demands-quick-action-against-the-mlm/46808.html

http://www.moneylife.in/article/qnet-secret-sfio-report-says-mlm-ponzi-schemes-and-lsquo-a-threat-to-national-security-and-rsquo/46817.html

http://www.business-standard.com/article/pti-stories/police-issue-summons-to-fc-goa-official-over-qnet-sponsorship-116042901487_1.html

http://timesofindia.indiatimes.com/city/mumbai/Notices-to-football-league-officials-over-Qnet-money/articleshow/52035746.cms

http://timesofindia.indiatimes.com/city/mumbai/QNet-cheating-case-Investors-protest-outside-Michael-Ferreiras-home/articleshow/51969270.cms

http://www.thehindu.com/news/cities/mumbai/news/hc-dismisses-appeal-of-qnets-public-relations-firm/article8457252.ece

http://www.asianage.com/mumbai/cm-devendra-fadnavis-has-assured-detailed-inquiry-qnet-bjp-524

http://www.thehindu.com/news/cities/bangalore/mlm-firm-busted-5-arrested/article8468517.ece

http://timesofindia.indiatimes.com/city/mumbai/No-bail-for-billiards-champ-in-QNet-case/articleshow/50827276.cms

http://timesofindia.indiatimes.com/city/gurgaon/Seven-booked-for-cheating-bizman/articleshow/50885431.cms

https://http://www.youtube.com/watch?v=e6x2QgI6K7o&nore...

https://http://www.youtube.com/watch?v=RabPkRNutwU

https://http://www.youtube.com/watch?v=MJ5PeybXnLo

REPLY

Agyat Vyakti

In Reply to Dev 10 months ago

Yes together we can destroy qnet.. To help people from trap of online ponzy schemes like qnet which will come in future. Alexa and online site statistics can save you. I reccomend you to read this to save yourself from emotional trap of friends and relative who work for qnet http://qnetindiascam.blogspot.in/ share it . I need to populate this.ss

Dalip Singh

10 months ago

But what about all the crores that was confiscated from Speak Asia accounts,which belonged to the people.Where is the money and when will the money be returned to the gullible investors? Kirit Somaya please answer.

Dalip Singh

10 months ago

But what about all the crores that was confiscated from Speak Asia accounts,which belonged to the people.Where is the money and when will the money be returned to the gullible investors? Kirit Somaya please answer.

jitu moni

10 months ago

QNet: Secret SFIO report says MLM, Ponzi schemes a threat to national security
Read article http://www.moneylife.in//article/qnet-secret-sfio-report-says-mlm-ponzi-schemes-and-lsquo-a-threat-to-national-security-and-rsquo/46817.html

Dalip Singh

10 months ago

@KiritSomaiya What have you done to the money which was supposed to be returned for gullible Speak Asia investors?Why no action yet?

Nifty, Sensex headed lower – Tuesday closing report
Nifty has to close above 7,795 for the bulls to end the current decline
 
We had mentioned in Monday’s closing report that Nifty, Sensex might put in a rally and that the bulls might be back, if the US and Asian markets stabilised. But the Asian markets were weak and US futures were sharply down. Hence, the major Indian indices opened higher and then gave up all the gains and closed with losses on Tuesday, in line with Asian markets. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Profit booking, along with caution over upcoming quarterly results and negative global cues, dragged the Indian equity markets lower on Tuesday. Initially, the key indices opened on Tuesday on a flat note, taking cues from their Asian peers which traded in the negative territory. Asian markets were subdued after the International Monetary Fund (IMF) warned about the possibility of a slowdown in China and Japan during 2016. However, the Indian equity markets soon rose on the back of short covering, expectations on bankruptcy code being passed through the parliament and a positive US market close. But negative Asian, European markets and caution ahead of Q4 (fourth quarter) results dampened sentiments and the major indices closed with losses over Monday’s close. The BSE market breadth was tilted in favour of the bears -- with 1,484 declines and 1,155 advances.
 
Two- and three-wheeler maker TVS Motor Company Ltd. on Tuesday said it closed the March quarter with a net profit of Rs117.76 crore compared to Rs90.52 crore. The company's total income went up to Rs2,839.60 crore from Rs2,453.42 crore. The company’s shares closed at Rs287.90, down 9.66% on the BSE.
 
The Future Group said Kishore Biyani has been appointed the managing director of Bharti Retail Limited (BRL) after the completion of acquisition of the Bharti Group's retail business. With the scheme of arrangement between Future Retail Limited (FRL) and BRL for acquisition taking shape, another Biyani, Rakesh Biyani, joined the board of BRL as joint managing director. Bharti Enterprises' vice chairman and managing director Rajan Mittal will continue to serve as a member of the board of directors of the company. Kishore Biyani stepped down as managing director of FRL. FRL shares closed at Rs146.95, down 1.74% on the BSE.
 
Housing Development Finance Corp (HDFC) reported a 30.76% rise in consolidated net profit at Rs3,460.46 crore for the fourth quarter ended March, as against Rs2,646.35 crore in the same quarter of 2014-15. In a stock exchange filing, the company said its net profit for the entire last fiscal, was up 16.29% at Rs10,190.26 crore as against Rs8,762.62 crore recorded last year. HDFC also recommended a final dividend of Rs14 per share, in addition to the interim dividend of Rs3. On standalone basis, the company reported a net profit of Rs2,607.05 crore for the fourth quarter, as compared to Rs1,862.43 crore in same period a year ago. For the full fiscal, standalone net profit was Rs7,093.1 crore, as against Rs5,990.14 crore. HDFC shares closed at Rs1,099.50, up 0.62% on the BSE.
 
Coal India Ltd, the world’s biggest miner, cut production and shipments of the fuel for the first time in more than a year as sluggish demand caused stockpiles to swell. Output in April dropped 3.4% from a year ago to 40.09 million metric tonnes, while dispatches during the month fell 2.5% to 42.45 million mt, Kolkata-based Coal India said in a stock exchange filing. Output and shipments were the lowest since September. Coal stockpiles at the company’s mines had risen to almost 58 million tonnes as of 1 April because of lower off take by power utilities. The company’s shares closed at Rs279.85, down 3.07% on the BSE.
 
Aurobindo Pharma announced that it has received US Food & Drug Administration (USFDA) approval for its epilepsy prevention drug Lacosamide. The approved product has an estimated market size of $782 million for the twelve months ending February 2016. In a BSE filing, Aurobindo Pharma said that the approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Vimpat Tablets, 50 mg, 100 mg, 150 mg and 200 mg of UCB, Inc.  Its shares closed at Rs801.95, up 4.19% on the BSE.
 
Marico, the maker of Parachute hair oil and Saffola edible oil, has been outperforming its FMCG peers since last three months. The company’s consolidated total income from operations have come in at Rs1,307.03 crore in this quarter as against Rs1,556.42 crore in Q3FY16, a decrease of 16%. The company’s EBITDA has come in at Rs216.6 crore as against Rs293.84 crore, a decrease of 26.3%. The company has witnessed a drop in inventories and cost of raw materials. However, depreciation and purchase cost of traded goods has increased. The company’s net profit stands at Rs138.44 crore in Q4FY16 as compared to Rs197.81 crore in the last quarter i.e. a decrease of 30%. Consolidated EPS has come in at 1.07 as against 1.53 in the last quarter. Marico’s shares closed at Rs256.50, down 3.97%.
 
The US dollar declined against other major peers on Monday as economic data from the country came out weaker than expected. In late New York trading, the euro rose to $1.1523 from $1.1448 in the previous session, while the dollar bought 106.47 Japanese yen, lower than 106.69 yen of the previous session.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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