Buzzing Stocks: Globus Spirits and Piramal Enterprises in news

Shares of Globus Spirits skyrocketed by more than 10 per cent to touch an intra-day high of Rs 1,299.90 per share on NSE. Scrip of Piramal Enterprises climbed more than 4 per cent during early markets to record an intra-day high of Rs 2,554 per share on NSE.

Globus Spirits – The company has informed the exchange that the expansion of the company's unit located at Panagarh, Burdwan, West Bengal is complete as per the schedule and the unit is now running at its enhanced capacity of 260 KLPD (kilolitre per day) enhanced from 120 KLPD. 

Shares of Globus Spirits skyrocketed by more than 10 per cent to touch an intra-day high of Rs 1,299.90 per share on NSE.

Piramal Enterprises – The company’s subsidiary, Piramal Pharma Limited (PPL), has entered into agreements and acquired a 27.78 per cent stake in Yapan Bio Private Limited for an investment of Rs. 101.77 crores (cash consideration). Yapan is a contract development and manufacturing organization (CDMO) in Hyderabad, providing process development, scale-up and complaint GMP manufacturing of vaccines and biologics/bio-therapeutics for human clinical trials across the world. The company is augmenting the capabilities of its contract development and manufacturing organization business, Piramal Pharma Solutions (PPS).                                      

Capabilities at Yapan include development and GMP facilities for high containment product classes (up to BSL2+). Yapan’s turnover during FY21 stood at Rs 12.4 crore. PPS currently offers integrated payload, conjugation, fill-finish services, and the addition of anti-body capabilities enhances that offering.

To quote an excerpt from the company’s filing with the exchange, “In today’s market, many pharma innovator companies are looking for CDMOs to support their biologics development and manufacturing requirements. PPS expects that adding these capabilities and expertise will enable the company to further enhance its offerings in this attractive, fast-track growth sector.”

Scrip of Piramal Enterprises climbed more than 4 per cent during early markets to record an intra-day high of Rs 2,554 per share on NSE.

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