The market continued its journey south for the seventh consecutive session, closing on September 29, the expiration date for September futures and options contracts, at a two-month low, following a negative trend among global competitors. The BSE Sensex fell 188 points to 56,410, while the Nifty50 fell 40 points to 16,818.
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The pharmaceutical company has received approval from the U.S. Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA), Mirabegron extended-release tablets, to market in the U.S. Mirabegron is a generic equivalent of Myrbetriq extended-release tablets from Astellas Pharma Global Development, Inc. The product will be manufactured at Lupine’s facility in Nagpur, India. According to IQVIA MAT data, the drug had annual sales of $2403 million in the US by June 2022. The drug is used to treat certain bladder problems.
The company said the board of directors is consolidating the company’s partnership interest in Ahmedabad East Infrastructure LLP (AEI LLP) from 51.43 percent to 55.24 percent and profit sharing in AEI LLP from 94.25 percent to 98.00 percent approved. acquisition of the entire partnership interest of Arvind Infrabuild LLP (AILLP) in AILLP.
The public sector venture has completed the commissioning of the Hajipur-Bachhwara doubling of 72 km route including electrification. IRCON was engaged for this work by East Central Railways.
The company said it has entered into a share purchase agreement for the sale of 100 percent shares in subsidiary Bhageria Exim Private Limited, for Rs 1 lakh. After the sale of the stake, Bhageria Exim will no longer be the wholly owned subsidiary of the company.
Punjab National Bank
The public sector bank has decided to sell its entire stake in Asset Reconstruction Company (ARCIL) at an agreed price. Its stake in ARCIL is now 10.01 percent.
Rail Vikas Nigam
The company has received a contract from the National Highways Authority of India (NHAI) for the construction of a 4-lane highway from Samarlakota to Achampeta Junction. The contract is part of the Kakinada gateway to NH – 16 connectivity in Andhra Pradesh under Bharatmala Pariyojana on EPC mode at a cost of Rs 408 crore.
The company has entered into a partnership agreement with Zero Motorcycles, the California (USA)-based manufacturer of premium electric motorcycles and powertrains. The cooperation will focus on the joint development of electric motorcycles. The company’s board of directors also approved an equity investment of up to $60 million in Zero Motorcycles.
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