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The rally in the Indian markets which began in February has come to a still. After a lackluster month of April, in which the benchmarks hit all-time high levels, the Nifty has been consolidating with a negative bias 

Macquarie upgrades India's Lupin Ltd to "outperform" from "neutral" and raises its target price to 1,100 rupees from 985 rupees after the drug maker's January-March earnings beat consensus estimates.

Besides, 10-15 listed Indian companies including a few blue-chip names directly or indirectly linked to these banks and their Indian customers are also under a close tab for any suspected market manipulations, senior officials said.

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