10:20am Panacea Biotec in News
Panacea Biotec has entered into collaboration with a leading
international pharmaceutical company for the development and supply of an
immunosuppressant generic product in USA.
Under the terms of the agreement, the company will receive
an upfront research fee, as well as milestone payments linked with the
development of product.
Upon commercialisation of product, Panacea will be
responsible for manufacturing and supply of product to a partner company while
the partner will be responsible for front end sales and distribution in USA.
Both companies agreed on a hybrid model of transfer price
and profit share at a pre-agreed ratio.
10:00am Market Check
The 50-share NSE Nifty continued to be rangebound at around
8250-8300 levels on the day of expiry of December derivative contracts. The
30-share BSE Sensex fell 7.47 points to 27498.99 amid consolidation.
About 974 shares have advanced, 832 shares declined, and 65
shares are unchanged on the Bombay Stock Exchange.
ICICI Bank, ITC, Infosys, L&T, M&M, Coal India and
Hero Motocorp gained 0.4-1 percent while HDFC Bank, TCS, ONGC, NTPC, Dr Reddy's
Labs, Hindalco, Wipro and Bharti fell 0.5-2 percent.
Gujarat Gas, Nirlon, Wockhardt, Mastek, Reliance Capital,
SBI, Infosys and Jaiprakash Associates were most active shares on exchanges.
Nirlon hits 52-week high of Rs 204 as GIC Real Estate, the
subsidiary of Singapore Government, will acquire majority stake in company. The
acquisition by GIC Real Estate will trigger open offer.
Gujarat Gas too touched a 52-week high of Rs 812.55 after
circuit filter revised to 10 percent from 20 percent by exchanges. More
information please visit this site www.bigprofitbuzz.com
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