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Market end with decent gains; Nifty above 11,300 mark
(15:35, 11 Aug 2020)

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The-domestic-equity-benchmarks-ended-the-volatile-session-with-decent-gains-on-Tuesday.-Positive-global-cues-boosted-sentiment.-As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex,-was-up-224.93-points-or-0.59%-at-38,407.01.-The-Nifty-50-index-added-52.35-points-or-0.46%-at-11,322.50.

The-broader-indices-underperformed-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-shed-0.20%-while-the-S&P-BSE-Small-Cap-index-slipped-0.23%.

The-market-breadth-was-positive.-On-the-BSE,-1602-shares-rose-and-1159-shares-fell.-A-total-of-158-shares-were-unchanged.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-20,090,541-with-736,208-deaths.-India-reported-6,39,929-active-cases-of-COVID-19-infection-and-45,257-deaths-while-15,83,489-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Buzzing-Index-:-

-The-Nifty-Metal-index-rose-1.62%-to-2,371.65.-The-index-has-added-11.1%-in-the-past-eight-sessions-while-the-benchmark-Nifty-50-index-has-risen-2.1%-during-the-same-period.-

Welspun-Corp-(up-4.97%),-Jindal-Steel-&-Power-(up-4.76%),-Hindustan-Copper-(up-3.10%),-National-Aluminum-Co.-(up-2.16%),-NMDC-(up-2.13%),-Ratnamani-Metals-Tubes-(up-1.81%),-Tata-Steel-(up-1.78%)-and-SAIL-(up-1.44%)-advanced.

JSW-Steel-added-3.94%-to-₹-254.60-after-crude-steel-production-grew-9%-to-12.46-lakh-tonnes-in-July-2020-as-against-11.44-lakh-tonnes-in-June-2020.-Rolled-products-(flat)-jumped-17%-to-9.40-lakh-tonnes-in-July-2020-as-against-8.04-lakh-tonnes-in-June-2020.-Rolled-products-(long)-surged-46%-to-2.40-lakh-tonnes-in-July-2020-compared-with-1.65-lakh-tonnes-in-June-2020.

Earnings-Today:-

-Adani-Ports-and-Special-Economic-Zonerose-1.18%-to-end-at-₹-335.15,-ahead-of-Q1-earnings-today.-

Among-the-other-stocks,-KRBL-(up-1.75%),-Metropolis-Healthcare-(down-5.10%),-Prataap-Snacks-(up-3.92%)-and-Rashtriya-Chemicals-&-Fertilizers-(up-1.93%)-will-announce-their-quarterly-earnings-today.-

-Earnings-Impact:-

RITES-rose-1.11%-to-₹-250.60.-The-miniratna-public-sector-enterprise-reported-a-36.3%-drop-in-consolidated-net-profit-to-₹-64.99-crore-in-Q1-June-2020-as-against-₹-102.08-crore-in-Q1-June-2019.-The-company-registered-a-37.6%-drop-in-consolidated-revenue-to-₹-335.47-crore-in-Q1-June-2020-as-against-₹-537.65-crore-posted-in-the-same-period-last-year.

Bosch-declined-3.06%-to-₹-13,174.80-after-the-auto-parts-maker-reported-a-consolidated-net-loss-of-₹-120.83-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-281.56-crore-posted-in-Q1-June-2019.-Consolidated-revenue-from-operations-stood-at-₹-991.54-crore-in-Q1-June-2020,-declining-64%-from-₹-2,755.44-crore-posted-in-the-same-period-last-year.-The-company-clarified-that-the-COVID-19-pandemic-adversely-impacted-sales-in-all-segments-during-the-quarter.

Bajaj-Electricals-gained-2.75%-to-₹-438.25.-The-company-reported-consolidated-net-loss-of-₹-16.60-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-13.70-crore-in-Q1-June-2019.-net-sales-slumped-53.46%-to-₹-608.29-crore-in-Q1-FY21-over-Q1-FY20.

In-the-first-quarter-of-FY21,-Bajaj-Electricals-generated-positive-cashflow-from-operations-of-₹-145-crore-as-against-₹-42-crore-in-the-corresponding-first-quarter-of-the-previous-year.-Debt-reduced-to-₹-810-crore-as-at-30-June-2020-from-₹-962-crore-as-at-31-March-2020.-The-order-book-as-on-1-July-2020-was-at-₹-1,595-crore,-comprising-of-₹-624-crore-for-transmission-line-towers,-₹-764-crore-for-power-distribution-and-₹-207-crore-for-illumination-projects.

Motherson-Sumi-Systems-(MSSL)-added-3.53%-to-₹-108.60.-The-auto-ancillary-posted-a-consolidated-net-loss-of-₹-1,191.65-crore-in-Q1-June-2020-as-compared-with-net-profit-of-₹-360.64-crore-in-Q1-June-2019.-Net-sales-slumped-49.36%-to-₹-8,503.89-crore-in-Q1-FY21-over-Q1-FY20.

The-company's-Q1-FY21-results-were-severely-impacted-by-COVID-19-pandemic.-There-is-gradual-ramp-up-in-plants-globally-with-84%-of-Motherson-Sumi-Systems'-(MSSL)-plants-running-at-more-than-50%-capacity.-The-company-expects-strong-demand-in-second-quarter-encouraged-by-consistent-improvement-at-greenfields-plants-of-SMP.-The-firm-has-a-strong-liquidity-position-and-is-currently-focusing-on-conserving-cash.

Power-Grid-Corporation-of-India-shed-0.03%-to-₹-177.25.-The-company's-consolidated-net-profit-fell-18.15%-to-₹-2,048.42-crore-on-9.24%-rise-in-total-income-to-₹-10,258.67-crore-in-Q1-June-2020-over-Q1-June-2019.

Titan-Company-fell-3.68%-to-₹-1067.05-after-the-company-reported-a-consolidated-net-loss-of-₹-297-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-364-crore-in-Q1-June-2019.-Revenue-from-operations-stood-at-₹-1979-crore-in-Q1-June-2020,-tumbling-61.5%-from-₹-5151-crore-in-the-same-period-last-year.

The-disruption-caused-by-the-COVID-19-pandemic-affected-company's-performance-severely-with-retail-outlets-closed-for-a-major-part-of-the-quarter.-The-lockdowns-impacted-the-company's-operations-significantly-in-the-months-of-April-and-May-2020-as-most-stores-were-forced-to-shut-down.-While-stores-started-opening-in-May,-post-Unlock-1.0,-even-as-at-end-of-June-2020,-only-83%-of-all-the-stores-opened-and-even-for-stores-that-opened,-many-of-them-were-not-operating-for-all-days.

With-the-negative-consumer-sentiment-prevailing-in-the-quarter,-discretionary-spends-were-very-low,-and-specifically-impacted-company's-Watches-business-and-diamond-studded-jewellery-in-the-Jewellery-business.-Plain-gold-jewellery-sales,-however,-recovered-better-than-expected-in-June-despite-high-gold-prices.

Shree-Cement-declined-3.93%-to-₹-21,508-after-consolidated-net-profit-fell-13.6%-to-₹-330.35-crore-on-24.9%-drop-in-net-sales-to-₹-2,480.14-crore-in-Q1-June-2020-over-Q1-June-2019.

Bank-of-Baroda-(BoB)-declined-2.99-%-to-₹-47.10-after-the-bank-posted-net-loss-of-₹-864.26-crore-in-Q1-June-2020-as-against-net-profit-of-₹-709.87-crore-in-Q1-June-2019.-Total-income-declined-2.6%-YoY-to-₹-20,312.44-crore-during-the-quarter.

The-bank's-global-net-interest-margin-(NIM)-during-Q1-June-2020-stood-at-2.55%-while-domestic-NIM-in-Q1-June-2020-stood-at-2.63%-compared-with-2.62%-and-2.73%-respectively-during-the-same-period-last-year.

The-bank's-provisions-and-contingencies-surged-71.3%-to-₹-5627.70-crore-in-Q1-June-2020-from-₹-3284.88-crore-in-Q1-June-2019.-The-bank-said-it-made-provisions-on-standard-accounts-of-₹-1,811-crore.-With-respect-to-COVID-19-provisioning,-the-bank-made-fresh-provision-of-₹-996.11-crore-in-Q1-June-2020.-The-bank's-provision-coverage-ratio-in-Q1-June-2020-stood-at-83.30%-higher-than-77.34%-reported-in-the-same-quarter-last-year.

On-the-asset-quality-front,-the-ratio-of-gross-NPAs-to-gross-advances-stood-at-9.39%-as-on-30-June-2020-as-against-9.4%-as-on-31-March-2020-and-10.28%-as-on-30-June-2019.-The-ratio-of-net-NPAs-to-net-advances-stood-at-2.83%-in-Q1-FY21-as-against-3.13%-in-Q4-FY20-and-3.95%-in-Q1-FY20.

BoB-said-that-the-total-moratorium-on-term-loans-availed-is-21.4%-of-total-loan-book.-Of-which-15.7%-is-by-borrowers-with-outstanding-above-₹-10-lakhs-who-were-given-an-option.-

KEC-International-jumped-6.73%-to-₹-292.40.-The-company-reported-20%-decline-in-consolidated-net-profit-to-₹-71-crore-on-9%-fall-in-revenues-to-₹-2,207-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-margin-was-at-8.8%-as-on-30-June-2020-as-against-10.4%-as-on-30-June-2019.

Vimal-Kejriwal,-MD-&-CEO,-KEC-International,-commented,-With-operations-nearing-pre-COVID-levels-and-an-order-book-plus-L1-pipeline-of-over-₹.-24,500-crore,-we-are-confident-of-delivering-a-good-performance-in-FY21.-

Global-Markets:

The-US-Dow-Jones-index-futures-were-up-278-points,-indicating-strong-opening-in-the-US-market-today.-

European-markets-edged-higher-while-most-Asian-indices-ended-in-the-green-on-Tuesday-following-the-overnight-gains-on-Wall-Street.

The-Singapore-economy-contracted-by-42.9%-in-the-second-quarter-of-2020-compared-to-the-previous-quarter-on-an-annualized,-seasonally-adjusted-basis,-said-the-Ministry-of-Trade-and-Industry.-The-updated-figure-was-worse-than-the-official-advance-estimate-released-last-month,-and-confirmed-the-Southeast-Asian-country-had-entered-a-technical-recession.

The-trade-and-industry-ministry-revised-its-full-year-forecast-for-Singapore-to-register-an-economic-contraction-of-between-5%-and-7%-in-2020.-Previously,-it-had-expected-the-country's-GDP-to-fall-by-between-4%-and-7%.

The-US-stocks-closed-mixed-on-Monday,-10-August-2020,-with-the-Dow-Industrials-rallied-along-with-the-S&P-500-index-but-the-Nasdaq-bucked-the-trend,-as-investors-rotated-into-value-stocks-from-tech-sector-while-they-awaited-news-on-progress-in-a-fiscal-support-bill-for-the-country's-battered-economy.

Monday-trading-showed-signs-of-a-rotation-away-from-high-growth-stocks-in-the-tech-sector-to-more-economically-sensitive-cyclical-companies.-As-the-summer-COVID-19-spike-wanes,-investors-are-more-inclined-toward-cyclical-stocks-to-view-the-economic-recovery-as-real-and-sustainable-for-the-first-time-since-the-pandemic-began.

Providing-some-support,-US-President-Donald-Trump-signed-executive-orders-that-partly-restored-enhanced-unemployment-benefits-after-talks-between-the-White-House-and-top-Democrats-in-Congress-about-fresh-stimulus-broke-down-last-week.

Tensions-between-Washington-and-Beijing-were-also-at-play,-after-Trump-signed-executive-orders-last-week-banning-major-Chinese-technology-firms-in-45-days'-time-while-announcing-sanctions-on-11-Chinese-and-Hong-Kong-officials.

Eastman-Kodak-Co-sank-after-its-$765-million-loan-agreement-with-the-US-government-to-produce-pharmaceutical-ingredients-was-put-on-hold-due-to-recent-allegations-of-wrongdoing.

Powered-by-Capital-Market---Live-News

The-domestic-equity-benchmarks-ended-the-volatile-session-with-decent-gains-on-Tuesday.-Positive-global-cues-boosted-sentiment.-As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex,-was-up-224.93-points-or-0.59%-at-38,407.01.-The-Nifty-50-index-added-52.35-points-or-0.46%-at-11,322.50.

The-broader-indices-underperformed-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-shed-0.20%-while-the-S&P-BSE-Small-Cap-index-slipped-0.23%.

The-market-breadth-was-positive.-On-the-BSE,-1602-shares-rose-and-1159-shares-fell.-A-total-of-158-shares-were-unchanged.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-20,090,541-with-736,208-deaths.-India-reported-6,39,929-active-cases-of-COVID-19-infection-and-45,257-deaths-while-15,83,489-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Buzzing-Index-:-

-The-Nifty-Metal-index-rose-1.62%-to-2,371.65.-The-index-has-added-11.1%-in-the-past-eight-sessions-while-the-benchmark-Nifty-50-index-has-risen-2.1%-during-the-same-period.-

Welspun-Corp-(up-4.97%),-Jindal-Steel-&-Power-(up-4.76%),-Hindustan-Copper-(up-3.10%),-National-Aluminum-Co.-(up-2.16%),-NMDC-(up-2.13%),-Ratnamani-Metals-Tubes-(up-1.81%),-Tata-Steel-(up-1.78%)-and-SAIL-(up-1.44%)-advanced.

JSW-Steel-added-3.94%-to-₹-254.60-after-crude-steel-production-grew-9%-to-12.46-lakh-tonnes-in-July-2020-as-against-11.44-lakh-tonnes-in-June-2020.-Rolled-products-(flat)-jumped-17%-to-9.40-lakh-tonnes-in-July-2020-as-against-8.04-lakh-tonnes-in-June-2020.-Rolled-products-(long)-surged-46%-to-2.40-lakh-tonnes-in-July-2020-compared-with-1.65-lakh-tonnes-in-June-2020.

Earnings-Today:-

-Adani-Ports-and-Special-Economic-Zonerose-1.18%-to-end-at-₹-335.15,-ahead-of-Q1-earnings-today.-

Among-the-other-stocks,-KRBL-(up-1.75%),-Metropolis-Healthcare-(down-5.10%),-Prataap-Snacks-(up-3.92%)-and-Rashtriya-Chemicals-&-Fertilizers-(up-1.93%)-will-announce-their-quarterly-earnings-today.-

-Earnings-Impact:-

RITES-rose-1.11%-to-₹-250.60.-The-miniratna-public-sector-enterprise-reported-a-36.3%-drop-in-consolidated-net-profit-to-₹-64.99-crore-in-Q1-June-2020-as-against-₹-102.08-crore-in-Q1-June-2019.-The-company-registered-a-37.6%-drop-in-consolidated-revenue-to-₹-335.47-crore-in-Q1-June-2020-as-against-₹-537.65-crore-posted-in-the-same-period-last-year.

Bosch-declined-3.06%-to-₹-13,174.80-after-the-auto-parts-maker-reported-a-consolidated-net-loss-of-₹-120.83-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-281.56-crore-posted-in-Q1-June-2019.-Consolidated-revenue-from-operations-stood-at-₹-991.54-crore-in-Q1-June-2020,-declining-64%-from-₹-2,755.44-crore-posted-in-the-same-period-last-year.-The-company-clarified-that-the-COVID-19-pandemic-adversely-impacted-sales-in-all-segments-during-the-quarter.

Bajaj-Electricals-gained-2.75%-to-₹-438.25.-The-company-reported-consolidated-net-loss-of-₹-16.60-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-13.70-crore-in-Q1-June-2019.-net-sales-slumped-53.46%-to-₹-608.29-crore-in-Q1-FY21-over-Q1-FY20.

In-the-first-quarter-of-FY21,-Bajaj-Electricals-generated-positive-cashflow-from-operations-of-₹-145-crore-as-against-₹-42-crore-in-the-corresponding-first-quarter-of-the-previous-year.-Debt-reduced-to-₹-810-crore-as-at-30-June-2020-from-₹-962-crore-as-at-31-March-2020.-The-order-book-as-on-1-July-2020-was-at-₹-1,595-crore,-comprising-of-₹-624-crore-for-transmission-line-towers,-₹-764-crore-for-power-distribution-and-₹-207-crore-for-illumination-projects.

Motherson-Sumi-Systems-(MSSL)-added-3.53%-to-₹-108.60.-The-auto-ancillary-posted-a-consolidated-net-loss-of-₹-1,191.65-crore-in-Q1-June-2020-as-compared-with-net-profit-of-₹-360.64-crore-in-Q1-June-2019.-Net-sales-slumped-49.36%-to-₹-8,503.89-crore-in-Q1-FY21-over-Q1-FY20.

The-company's-Q1-FY21-results-were-severely-impacted-by-COVID-19-pandemic.-There-is-gradual-ramp-up-in-plants-globally-with-84%-of-Motherson-Sumi-Systems'-(MSSL)-plants-running-at-more-than-50%-capacity.-The-company-expects-strong-demand-in-second-quarter-encouraged-by-consistent-improvement-at-greenfields-plants-of-SMP.-The-firm-has-a-strong-liquidity-position-and-is-currently-focusing-on-conserving-cash.

Power-Grid-Corporation-of-India-shed-0.03%-to-₹-177.25.-The-company's-consolidated-net-profit-fell-18.15%-to-₹-2,048.42-crore-on-9.24%-rise-in-total-income-to-₹-10,258.67-crore-in-Q1-June-2020-over-Q1-June-2019.

Titan-Company-fell-3.68%-to-₹-1067.05-after-the-company-reported-a-consolidated-net-loss-of-₹-297-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-364-crore-in-Q1-June-2019.-Revenue-from-operations-stood-at-₹-1979-crore-in-Q1-June-2020,-tumbling-61.5%-from-₹-5151-crore-in-the-same-period-last-year.

The-disruption-caused-by-the-COVID-19-pandemic-affected-company's-performance-severely-with-retail-outlets-closed-for-a-major-part-of-the-quarter.-The-lockdowns-impacted-the-company's-operations-significantly-in-the-months-of-April-and-May-2020-as-most-stores-were-forced-to-shut-down.-While-stores-started-opening-in-May,-post-Unlock-1.0,-even-as-at-end-of-June-2020,-only-83%-of-all-the-stores-opened-and-even-for-stores-that-opened,-many-of-them-were-not-operating-for-all-days.

With-the-negative-consumer-sentiment-prevailing-in-the-quarter,-discretionary-spends-were-very-low,-and-specifically-impacted-company's-Watches-business-and-diamond-studded-jewellery-in-the-Jewellery-business.-Plain-gold-jewellery-sales,-however,-recovered-better-than-expected-in-June-despite-high-gold-prices.

Shree-Cement-declined-3.93%-to-₹-21,508-after-consolidated-net-profit-fell-13.6%-to-₹-330.35-crore-on-24.9%-drop-in-net-sales-to-₹-2,480.14-crore-in-Q1-June-2020-over-Q1-June-2019.

Bank-of-Baroda-(BoB)-declined-2.99-%-to-₹-47.10-after-the-bank-posted-net-loss-of-₹-864.26-crore-in-Q1-June-2020-as-against-net-profit-of-₹-709.87-crore-in-Q1-June-2019.-Total-income-declined-2.6%-YoY-to-₹-20,312.44-crore-during-the-quarter.

The-bank's-global-net-interest-margin-(NIM)-during-Q1-June-2020-stood-at-2.55%-while-domestic-NIM-in-Q1-June-2020-stood-at-2.63%-compared-with-2.62%-and-2.73%-respectively-during-the-same-period-last-year.

The-bank's-provisions-and-contingencies-surged-71.3%-to-₹-5627.70-crore-in-Q1-June-2020-from-₹-3284.88-crore-in-Q1-June-2019.-The-bank-said-it-made-provisions-on-standard-accounts-of-₹-1,811-crore.-With-respect-to-COVID-19-provisioning,-the-bank-made-fresh-provision-of-₹-996.11-crore-in-Q1-June-2020.-The-bank's-provision-coverage-ratio-in-Q1-June-2020-stood-at-83.30%-higher-than-77.34%-reported-in-the-same-quarter-last-year.

On-the-asset-quality-front,-the-ratio-of-gross-NPAs-to-gross-advances-stood-at-9.39%-as-on-30-June-2020-as-against-9.4%-as-on-31-March-2020-and-10.28%-as-on-30-June-2019.-The-ratio-of-net-NPAs-to-net-advances-stood-at-2.83%-in-Q1-FY21-as-against-3.13%-in-Q4-FY20-and-3.95%-in-Q1-FY20.

BoB-said-that-the-total-moratorium-on-term-loans-availed-is-21.4%-of-total-loan-book.-Of-which-15.7%-is-by-borrowers-with-outstanding-above-₹-10-lakhs-who-were-given-an-option.-

KEC-International-jumped-6.73%-to-₹-292.40.-The-company-reported-20%-decline-in-consolidated-net-profit-to-₹-71-crore-on-9%-fall-in-revenues-to-₹-2,207-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-margin-was-at-8.8%-as-on-30-June-2020-as-against-10.4%-as-on-30-June-2019.

Vimal-Kejriwal,-MD-&-CEO,-KEC-International,-commented,-With-operations-nearing-pre-COVID-levels-and-an-order-book-plus-L1-pipeline-of-over-₹.-24,500-crore,-we-are-confident-of-delivering-a-good-performance-in-FY21.-

Global-Markets:

The-US-Dow-Jones-index-futures-were-up-278-points,-indicating-strong-opening-in-the-US-market-today.-

European-markets-edged-higher-while-most-Asian-indices-ended-in-the-green-on-Tuesday-following-the-overnight-gains-on-Wall-Street.

The-Singapore-economy-contracted-by-42.9%-in-the-second-quarter-of-2020-compared-to-the-previous-quarter-on-an-annualized,-seasonally-adjusted-basis,-said-the-Ministry-of-Trade-and-Industry.-The-updated-figure-was-worse-than-the-official-advance-estimate-released-last-month,-and-confirmed-the-Southeast-Asian-country-had-entered-a-technical-recession.

The-trade-and-industry-ministry-revised-its-full-year-forecast-for-Singapore-to-register-an-economic-contraction-of-between-5%-and-7%-in-2020.-Previously,-it-had-expected-the-country's-GDP-to-fall-by-between-4%-and-7%.

The-US-stocks-closed-mixed-on-Monday,-10-August-2020,-with-the-Dow-Industrials-rallied-along-with-the-S&P-500-index-but-the-Nasdaq-bucked-the-trend,-as-investors-rotated-into-value-stocks-from-tech-sector-while-they-awaited-news-on-progress-in-a-fiscal-support-bill-for-the-country's-battered-economy.

Monday-trading-showed-signs-of-a-rotation-away-from-high-growth-stocks-in-the-tech-sector-to-more-economically-sensitive-cyclical-companies.-As-the-summer-COVID-19-spike-wanes,-investors-are-more-inclined-toward-cyclical-stocks-to-view-the-economic-recovery-as-real-and-sustainable-for-the-first-time-since-the-pandemic-began.

Providing-some-support,-US-President-Donald-Trump-signed-executive-orders-that-partly-restored-enhanced-unemployment-benefits-after-talks-between-the-White-House-and-top-Democrats-in-Congress-about-fresh-stimulus-broke-down-last-week.

Tensions-between-Washington-and-Beijing-were-also-at-play,-after-Trump-signed-executive-orders-last-week-banning-major-Chinese-technology-firms-in-45-days'-time-while-announcing-sanctions-on-11-Chinese-and-Hong-Kong-officials.

Eastman-Kodak-Co-sank-after-its-$765-million-loan-agreement-with-the-US-government-to-produce-pharmaceutical-ingredients-was-put-on-hold-due-to-recent-allegations-of-wrongdoing.

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