Lupin stock price jumps on new lab additions

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Pharma and healthcare stocks were in demand due to renewed fears of a Covid outbreak in China, the US, and other countries. IT shares also witnessed bargain hunting. However, global shares were positive ahead of the release of the US GDP numbers on Thursday.

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? Lupin stock price jumps on new lab additions
Lupin Diagnostics expanded its footprint in Central India with the launch of the Regional Reference Laboratory in Indore. Lupin Diagnostics currently operates 325+ LupiMitra (Lupin’s franchise collection centers) and 23 laboratories in India.

? Glenmark Pharma stock price rallies on new drug launch for Type 2 diabetes patients
The company launched the first triple fixed-dose combination of Teneligliptin with Pioglitazone and Metformin in India. Teneligliptin is a widely used DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor). This offers patients with Type 2 diabetes the convenience of once-daily dosing to improve their glycemic control and achieve the targeted HbA1c within 24 weeks, the company said in a press release.

? Citi Union Bank stock price declines on RBI observations for the bank
RBI has found divergence in additional gross non-performing assets (GNPAs) of the bank amounting to Rs 259 crore in the fiscal year 2022. The divergence to the tune of Rs 259 crore consists of 13 borrower accounts with an outstanding balance of more than Rs 1 crore for an amount of Rs 230 crore and 218 borrowers with an outstanding balance of less than Rs 1 crore for an amount of Rs 29 crore.

News from the IPO world?

• TATA’s Bigbasket eyes IPO by 2025 after $200 mn fundraising
• Zaggle Prepaid files DRHP with SEBI for IPO
• Radiant Cash Management Services IPO to open on Friday

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