Lupin gets approval & PNB rises Today Trading News
Lupin gets approval from USFDA for Tadalafil tablets-
Lupin has received approval for its Tadalafil tablets USP, 20 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Eli Lilly and company's Adcirca tablets, 20 mg.
The company's Tadalafil tablets USP, 20 mg is the generic version of Eli Lilly and Company's Adcirca tablets, 20 mg. It is indicated for the treatment of pulmonary arterial hypertension (PAH) (WHO Group 1) to improve exercise ability. Tadalafil tablets, 20 mg (RLD: Adcirca) had annual sales of approximately $474.3 million in the US (IQVIA MAT December 2018).
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products, and APIs globally.
PNB rises on setting Rs 10,000 crore recovery target for March quarter-
Punjab National Bank is currently trading at Rs. 75.40, up by 0.20 points or 0.27% from its previous closing of Rs. 75.20 on the BSE.
The scrip opened at Rs. 75.45 and has touched a high and low of Rs. 75.90 and Rs. 74.85 respectively. So far 120003 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 164.95 on 07-Feb-2018 and a 52 week low of Rs. 58.65 on 01-Oct-2018.
Last one week high and low of the scrip stood at Rs. 78.40 and Rs. 71.05 respectively. The current market cap of the company is Rs. 28590.92 crore.
The promoters holding in the company stood at 70.22%, while Institutions and Non-Institutions held 19.40% and 10.38% respectively.
Punjab National Bank (PNB) has set a target of recovering Rs 10,000 crore from bad loans in the March quarter. The bank has reported a 7.13% rise in its net profit at Rs 246.51 crore for the December quarter under review as compared to Rs 230.11 crore for the same quarter in the previous year.
In this fiscal year, the bank had made recoveries worth Rs 16,600 crore from bad loans. The bank expects a recovery of Rs 10,000 crore from NPAs in which include Rs 6,000 crore from Bhushan Power & Steel and Essar Steel (both at the NCLTs) in the current quarter, the balance Rs 4,000 crore of the planned recovery will be from smaller accounts as well as from a few NCLT accounts.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through a spectrum of services including corporate and personal banking, industrial finance, agricultural finance, and international finance.
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