Gufic Lifesciences Private Limited (GLPL) has entered into a loan license agreement with Hetero Labs Limited to manufacture and supply Remdesivir lyophilised powder for injection (100 mg/vial) on loan license basis to Hetero for its sale in various countries, including India.

The company has received USFDA nod for the additional four variants to market them in the United States. Earlier, the company had received USFDA approval for one variant of male contraceptives.

Tracking positive global cues with indications of Nifty to open with gains of 43 points at 11, 362 levels, the Indian markets are likely to open in green. With index likely to open near its resistance level as on the upside, the zone of 11,340-11,380 continues to be a strong hurdle for the bulls.

As long as the resistance zone of 11,340-11,380 is not cleared convincingly, do not expect a run-away rise. On the downside, the level of 11,230 is likely to act as an immediate support level, followed by 11,120 levels. Stocks in news: Cupid, Titan, Suven Pharmaceuticals, Gufic Biosciences, BLS International Services, Kotak Mahindra Bank.

The consolidated net sales reported in Q1FY21 came in at Rs 2,480.14 crore, which declined by 24.91 per cent YoY from Rs 3,302.79 crore in Q1FY20. 

Sensex on Monday gained by 141.51 points or 0.37 per cent to close at 38182.08 while Nifty rose by 60.65 points or 0.54 per cent to settle at 11274.70. The day saw pharma stocks like Cipla and Natco Pharma doing well.

The stock of State Bank of India has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

The stock of Lincoln Pharmaceuticals Limited has given a horizontal trendline breakout, formed by connecting swing highs since March 2018. Further, the breakout is supported by a robust volume of more than double of 50-day average volume, indicating a strong buying interest by the market participants.

The consolidated net sales reported in Q1FY21 came in at Rs 1,534.4 crore, which increased by 42.31 per cent YoY from Rs 1,078.19 crore in Q1FY20. 

CRISIL in its latest report has stated that Reserve Bank of India’s (RBI) decision to enable lenders to permit a one-time restructuring of loans is likely to ease the liquidity pressure on companies amid the COVID-19 pandemic