Market regulator, the Securities and Exchange Board of India (SEBI) has banned vice-chairman and joint managing director, First Global, Shankar Sharma from dealing in securities for one year on allegation of manipulation of shares of some companies in 2001, leading to decline in credibility of stock exchange and erosion of investor's confidence.
The regulator found him guilty of fictitious trades during early 2001, which caused substantial variations in share prices of Zee Telefilms, Wipro, Satyam, MTNL, SBI and Infosys Technologies. He allegedly gave false orders for purchase and sale of securities without intimating actual owners of securities.
Hinduja group owned Commercial vehicles manufacturer, Ashok Leyland has announced various measures to tackle situation caused under the impact of global slowdown, including reshaping of its investment plans from Rs 3,200-3,300 crore to Rs 2,000 crore, cost cutting measures, salary cut and retrenchment in some segments. 
British and U.S. researchers said on Friday that passive smoking can significantly raise a person’s risk of dementia and other cognitive problems to the extent that people who live with a smoker stand a higher risk of developing Alzheimer’s. 
Indian liquor maker United Spirits, with market value of about $1.4 billion, indicates to increase stake offer by about 15 per cent to Diageo, the world's largest alcoholic drinks group, in order to successfully close the talks between two companies and to pay debt of $1.2 billion from its purchase of Scottish spirits maker Whyte & Mackay in 2007.
Reliance Infrastructure Ltd plans a special program to buy-back shares worth $143 million, in a bid to reduce outstanding number of equity shares in troubled times, till mid April. The firm would buy shares at maximum price of Rs 700 per share with premium of 27 per cent to the prevailing market price. Soon, it would start buy back process through open market purchase.
