Panacea Biotec surges 20% on COVID-19 vaccine collaboration with US-based Refana Inc

Published On: Wednesday, June 10, 2020 | By: Team KnowMyStock

Shares of Panacea Biotec gained 20 per cent upper circuit at Rs 203 on the BSE on Wednesday after the company said it would partner with US-based Refana Inc to make a potential vaccine for COVID-19. Under the partnership, Panacea Biotec will be responsible for product development and commercial manufacturing of an inactivated virus-based vaccine, the Indian firm said in an exchange filing. The collaboration aims to make more than 500 million doses of the vaccine candidate, with over 40 million doses expected to be available early next year. Both Panacea and Refana will undertake sales and distribution of the vaccine in their respective territories, it said. With today’s rally in the stock, the market capitalisation of Panacea Biotec stands at Rs 1,242.17 crore, according to BSE. The stock is trading close to its 52-week high level of Rs 210.60, touched on April 28, 2020. Around 860,000 shares changed hands and there were pending buy orders for 210,000 shares on the NSE and BSE.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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