There's been an argument brewing between the Modi government and the Moody's rating agency. Reuters reports that the Indian government had been pushing Moody's for a ratings upgrade for the Indian economy. India is rated at Baa3 by Moody's, the agency's lowest notch for debt considered investment grade. This has kept India's borrowing costs high, and India's debt payments account for more than a fifth of government revenues. However the agency has so far refused to revise India's rating, citing the debt laden banking system while the Indian government questioned the agency's metrics. 

SunPharma has acquired 13 million shares - equivalent to 14.58% of equity - of scPharmaceuticals Inc.,  a US pharma company, which manufactures wearable products that administer drugs periodically into the body, without requiring IVs and intramuscular injections. SunPharma is trading higher on the news of the stake buy. SCP was founded in 2014. 

Stock in spotlight: Hexaware Technologies, which beat estimates in its Q2 results and saw revenue growth of 4.8% QoQ, today announced a share buyback of 5.6 million equity shares at a price of Rs. 240/share through the tender route. 

Photo of the day: A photo that received 1.14 million instagram likes in 2016 was this picture of zebras and elephants sharing the bank of the Cuito River in Botswana. Cory Richards/NatGeo