Welspun Corp wins orders worth Rs700 crore

Welspun Corp Ltd, the flagship company of the Welspun Group, said it won few orders worth Rs700 crore for pipes and plates.

With the addition of these orders, the current order book of the company stands at Rs7,100 crore without excluding the orders being executed in the current quarter.
On Friday, Welspun shares closed 5.3% up at Rs230 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.6% up at 17,117 points.
 

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Lupin gets FDA approval for lamotrigine tablets

Lupin Ltd said its US subsidiary Lupin Pharmaceuticals has received US Food and Drug Administration (USFDA) approval for its lamotrigine in tablets form.
 
Lamotrigine tablets, used in the treatment of bipolar-I disorder, are a generic version of GlaxoSmithKline's branded drug Lamictal, the company said in a statement. The tablets have annual sales of about $452 million in the US market.

Like many other anticonvulsant medications, Lamotrigine also seems to acts as an effective mood stabiliser, and in fact has been the only FDA approved drug for this purpose since lithium, a drug approved almost 30 years earlier.

On Friday, Lupin shares ended 0.1% up at Rs1,849 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.6% up at 17,117 points.

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Varun signs MoU with government of Karnataka for new steel plant

Steelware exporter, Varun Industries Ltd said it signed a memorandum of understanding (MoU) with the government of Karnataka to set up a steel plant at the cost of Rs304 crore at Bagalkote district.

In a regulatory filing, the Mumbai-based company said it has been allotted 500 acres of land to set up the steel plant by the state government. The MoU would allow Varun to get a preferential allotment of mining licences in Karnataka, giving its mining efforts a boost and opening up a new area for business development.

On Friday, Varun Industries shares ended 0.8% down at Rs143 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.6% up at 17,117 points.
 

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