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On Wednesday, the shares of Mumbai-based drug maker Lupin declined after the company revealed that billionaire Investor Rakesh Jhunjhunwala has sold his shares in the company worth more than Rs 300 crore in the first quarter.

The stock of lupin was traded at Rs 461.20 in the intra-day on the BSE, which was 3.7% less than its previous close.

According to a recent report by the global management consultancy, McKinsey & Company has revealed that net banking has increased 7% in India, which means more account holders in the country are using the Internet for banking transactions. The report has also unveiled that branch banking has fallen by 15% points since then.

McKinsey & Company’s India Partner and Head of its Retail Banking Services, Renny Thomas said that it was the first time when net banking service in the country has improved 7%.

It was expected that the Eurozone meeting that has been scheduled for later in the day, would present a solution for the region’s sovereign debt crisis and with this, on Thursday, the rupee also got a little changeover. But the traders were unconvinced by such euro’s gains.

According to traders, Choppy local shares also provided a little direction to them. But due to lacklustre trading, there would be a low volume in the dollar-rupee market.

With the booming of ITC Ltd., the Hero Honda Motors Ltd. have found to decline and this has made India’s benchmark stock index swung between advances and losses.

Hero Honda which is known as the India’s biggest motorcycle maker today has reported to slide for the sixth day and that too before its earnings.

At the same time, the Drug maker Biocon Ltd. (BIOS) and Exide Industries Ltd. (EXID), which is a battery maker, by missing their targeted earnings, also met a downfall.

The net profit of biotechnology company Biocon decreased by 9% in a year amounting to Rs 70.05 crore, but the company witnessed an increase in the sales by 10% amounting to Rs 441.68 crore. The low income earned by the company had affected the share prices of the company, marked by a fall of 2.8% at Rs 360.15 on NSE.

The Government plans to cut $110 million from the Health Budget during the financial year 2011-12. As a consequence of a deduction in the annual health budget, Royal Hobart Hospital (RHH) had to dismiss 100 doctors and nurses working in their hospital.