Skip to content

Indian Indices Dip; Lupin Scores US FDA Approval, Major Deals Signed

Indian markets started the day in the red. Lupin's US FDA approval and major deals across sectors stole the show.

This image is clicked in a room, where it looks like Store. There are so many bottles in this image...
This image is clicked in a room, where it looks like Store. There are so many bottles in this image and cans. There is a Banner in the middle which is indicating Supra brand. Bottom right corner there is a logo LM.

Indian Indices Dip; Lupin Scores US FDA Approval, Major Deals Signed

Indian indices began the day with a dip, with the Sensex and Nifty50 both down 0.12% and 0.10% respectively on Tuesday, 30 September. Meanwhile, Lupin secured a significant US FDA approval, and several notable acquisitions and collaborations were announced across various sectors.

The S&P BSE Sensex closed at 80,268, down 92 points, while the Nifty50 ended at 24,611, losing 24 points. GIFT Nifty futures indicated a subdued start for domestic benchmark indices on Wednesday, trading lower by 5 points at 24,773.

In the pharmaceutical sector, Lupin received the green light from the US FDA for its Abbreviated New Drug Application (ANDA) for Rivaroxaban for Oral Suspension to treat venous thromboembolism (VTE). This approval is set to broaden Lupin's product portfolio in the US market.

The corporate world saw several strategic moves. RateGain Travel Technologies acquired Sojern Inc., an AI-led MarTech company specialising in the hospitality sector. Additionally, Adani Road Transport inked agreements to acquire Yashodhan Highways and KN Highways Development, further expanding its road infrastructure portfolio.

In the infrastructure sector, Atlanatta signed a ₹2,485 crore contract with IRCON International to build the Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra under the EPC model. Furthermore, Oil India and GAIL India signed an MoU to deepen collaboration across the natural gas value chain, aiming to unlock synergies and expand access to cleaner energy in India.

Nestlé India also signed an MoU with the Ministry of Food Processing Industries to accelerate investments in greenfield and brownfield projects in Odisha and existing manufacturing sites, demonstrating the company's commitment to the region's development.

Tuesday's market witnessed a decline in key indices, with the Sensex and Nifty50 both closing lower. However, the day was marked by significant developments, including Lupin's FDA approval and several strategic acquisitions and collaborations across sectors. Investors will continue to monitor these developments and their potential impacts on the market in the coming days.

Read also:

Latest