As the market is showing positivity on Wednesday, these stocks are gaining!

Biocon Ltd, Mangalore Refinery and Petrochemicals Ltd and VRL Logistics Ltd are today’s mid-day movers.

At 1:25 pm the S&P BSE Sensex is at 57,084 witnessing a 1.10 per cent gain. As this pertains, the following stocks have shown some momentum.  

Biocon Ltd, which is engaged in the manufacturing of biotechnology products and research services, announced that its unit Biocon Biologics might raise USD 1.2 Billion via offshore loans. This will be utilized to fund the acquisition of biosimilar assets of Viatris, a US based company. Today, at 1:25 pm the stock has jumped 3.02 per cent and the scrip is currently trading at Rs 348.20

Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of ONGC, which is in the business of refining crude oil has surpassed its three years high in today’s trading session. This has happened because analysts expect the gross refining margin will improve. At 1:25 pm the stock jumped 10.49 per cent and the scrip is currently trading at Rs 63.70. 

VRL Logistics Ltd, which deals in goods transportation and passenger transportation has signed a Memorandum of Understanding (MoU) with Ratna Cements (Yadwad) (RCL) for the transfer of the Wind Power (Sale of Power) undertaking along with all underlying assets and liabilities. At 1:25 pm the stock jumped 6.87 per cent and the shares are currently trading at Rs 551.65.