Market this week 11-3-2022

Market this week 11-3-2022
  • J Kumar Infraprojects share gains on bagging Rs 2,030-crore orders
  • Zydus Lifesciences gains more than 5% after its US arm purchases global rights to BridgeBio’s Nulibry.
  • Sun Pharma’s stock rises after its American business buys Galderma enterprises in the United States, Japan, and Canada.
  • The price of Natco Pharma’s stock has increased by 9% since the debut of a generic version of Revlimid in the United States.
  • On a Rs 12.85-crore contract, 3i Infotech’s share price is locked at the upper circuit.

J Kumar Infraprojects share gains on bagging Rs 2,030-crore orders

On March 9, J Kumar Infraprojects’ stock increased 5% intraday after the company got orders worth Rs 2,030 crore.

M/s. Pune Municipal Corporation has issued a work order to J Kumar Infraprojects for the development of Mula Mutha River from Bund Garden Bridge to Mundhwa (Stretch 10 and 11) as part of the Pune River Rejuvenation Project, as well as the construction and development of Riverside Road from Bund Garden Bridge to Mundhwa (Right Hand Side) under the Public Private Partnership Module.

Also, the company received a letter of acceptance for the contract DC-08: design and construction of Twin Tunnel (Up & Down Line) by Shield TBM, Cut and Cover Tunnel box, and four Underground stations namely Aerocity, Mahipalpur, Vasant Kunj, and Kishangarh with Entry/Exits & Connecting subways from chainage (-) 760 mt. to 5356.285 mt. of Aerocity to Tughlakabad Corridor of Phase

Zydus Lifesciences gains more than 5% after its US arm purchases global rights to BridgeBio’s Nulibry.

On March 9, Zydus Lifesciences’ stock rose more than 5% intraday after its US subsidiary Sentynl Therapeutics Inc obtained global rights to BridgeBio Pharma’s Nulibry drug’s research and commercialization.

According to a filing with the BSE, Sentynl Therapeutics Inc, a US-based biopharmaceutical business, has completed an asset purchase agreement for the sale of BridgeBio’s Nulibry (Fosdenopterin) for injection.

Nulibry (Fosdenopterin) is a substrate replacement therapy that supplies an external source of cPMP, which is then transformed to molybdopterin. Molybdopterin is then converted to molybdenum cofactor, which is required for the activation of molybdenum-dependent enzymes such as sulfite oxidase, which decreases sulfite levels in the brain.

Sun Pharma’s stock rises after its American business buys Galderma enterprises in the United States, Japan, and Canada.

Sun Pharmaceutical Industries’ stock soared over 3% in the morning session on March 9 after the company announced that a step-down US subsidiary had purchased Galderma enterprises in the US, Japan, and Canada.

Taro Pharmaceuticals USA, one of our Taro Pharmaceutical Industries’ wholly-owned subsidiaries, has agreed to purchase all of the outstanding capital stock of Galderma Holdings Inc (incorporated in Delaware); Proactiv YK (incorporated in Japan); The Proactiv Company Corporation (incorporated in Canada); and other assets of The Proactiv Company Sari, which are used in the business of developing, manufacturing, marketing, selling, and distributing products sold under the Proactiv brand.

The price of Natco Pharma’s stock has increased by 9% since the debut of a generic version of Revlimid in the United States.

Natco Pharma’s stock jumped 9% in early trading on March 8 after the company announced the availability of the first generic version of Revlimid in the United States.

The first generic version of Revlimid (Lenalidomide capsules) in 5mg, l0mg, l5mg, and 25mg strengths was launched in the US market by Natco Pharma Limited and its marketing partner Arrow International Ltd (an offshoot of Teva Pharmaceutical Industries Ltd).

Adults have prescribed the above strengths of lenalidomide capsules to treat (1) multiple myeloma in combination with dexamethasone, (2) certain myelodysplastic syndromes, and (3) mantle cell lymphoma after specific prior treatment.

On a Rs 12.85-crore contract, 3i Infotech’s share price is locked at the upper circuit.

On March 7, the share price of 3i Infotech was locked at a 5% upper circuit after the company received an order for Rs 12.85 crore from the Rajasthan State Pollution Control Board (RSPCB).

There were 58,629 pending ‘purchase’ requests with no vendors available. For the Rajasthan State Pollution Control Board, the job entails designing, developing, implementing, and maintaining an integrated e-Governance Solution 2.0.

On December 16, 2021, the stock reached a 52-week high of Rs 119.40 and a 52-week low of Rs 6.71, respectively. It is currently trading at a 53.94 percent discount to its 52-week high and 719.67 percent premium to its 52-week low.

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