Stocks in News, November 30: Zomato, Inox Wind, Gland Pharma, Biocon, Lupin

Stocks in News Today, November 30: Sensex and Nifty are likely to have a muted start on Wednesday i.e. October 30 as SGX Nifty - which is traded on the Singapore stock exchange - traded over 10 points, or 0.06 per cent, lower at 18,748 in the early trade. Both BSE Sensex and NSE Nifty settled at fresh lifetime highs on Tuesday. The 30-share BSE Sensex gained 177.04 points or 0.28 per cent to settle at 62,681.84 and the broader NSE Nifty advanced 55.30 points or 0.30 per cent to end at 18,618.05.

Asian-Pacific markets were mixed as Japan's Nikkei 225 was down by over 175 points and Hang Seng index in Hong Kong was down by over 6 points. However, South Korea’s Kospi was up by over 12 points at 7:45 am.

Similarly, the S&P 500 and Nasdaq ended down on Tuesday. Dow Jones Industrial Average rose 0.01 per cent. 

Stocks in News Today, November 30

Zomato: Chinese behemoth Alibaba is set to sell its shares worth $200 million in Zomato via a block deal on Wednesday, the media reported. Ant Financial and Alipay would bring down their stake in the Deepinder Goyal-run food delivery unicorn to about 10 per cent from the current 13 per cent, reported IANS citing a media report.

Inox Wind: Wind energy solutions provider Inox Wind on Tuesday said the company and its arm Inox Green Energy Services have paid debts of Rs 411 crore. Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of the strategic initiative to deleverage their respective balance sheets, have recently paid Rs 250 crore and Rs 161 crore (aggregating to Rs. 411 crore) towards reducing their debt, an exchange filing said.

Biocon: Biocon Biologics, a unit of Biocon, has completed the multi-billion dollar acquisition of the global biosimilars business of its partner Viatris Inc. In February this year, Biocon Biologics inked a pact to acquire Viatris Inc's biosimilars business for consideration of up to USD 3.33 billion (about Rs 24,990 crore).

Gland Pharma: Gland Pharma has entered into a put option agreement to acquire Europe-based Cenexi Group for up to EUR 120 million (around Rs 1,015 crore), marking its foray into the international markets. The company's wholly-owned Singapore-based unit Gland Pharma International PTE has entered into a 'Put Option Agreement' to acquire 100 per cent of Cenexi Group for an equity value not exceeding EUR 120 million, the Hyderabad-based drug contract development and manufacturing company (CDMO) said in a statement.

Lupin: Drug firm Lupin has received approval from the US health regulator to market Formoterol Fumarate Inhalation Solution in the American market. The company's product, a generic version of Mylan Specialty's Perforomist Inhalation Solution, is indicated for the treatment of Chronic Obstructive Pulmonary Disease (COPD).

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