10:10 am Buzzing: Share of Biocon gained 2.4 percent as it has received marketing authorization approval from the European Commission.

Mylan NV and Biocon announced that their co-developed biosimilar insulin glargine Semglee has received marketing authorization approval from the European Commission following the positive recommendation by the committee of Medicinal products for Human use of European Medicines Agency.

Semglee 100 units/ml 3 mL prefilled disposable pen for people with diabetes, is the first biosimilar from Biocon and Mylan’s joint portfolio to be approved in Europe.

Additionally, the Therapeutic Goods Administration (TGA), Australia has also approved biosimilar insulin Glargine Semglee 100 IU/ mL 3 mL prefilled pen for people with diabetes in Australia.

10:01 am Listing: State-owned Hindustan Aeronautics share price made a weak debut on Dalal Street, falling more than 4 percent from its final issue price of Rs 1,215.

9:55 am Pre-Opening Listing: Hindustan Aeronautics share price settled at Rs 1,152 in pre-opening on the National Stock Exchange, down 5 percent from issue price of Rs 1,215 per share.

9:45 am Market Update: The market remained under pressure on the back of global weakness, with the Sensex falling around 150 points.

The Nifty is trading below the 10,150 levels ahead of expiry of March derivative contracts, down 48 points.

The Nifty Midcap index also traded in line with frontliners, falling half a percent. About two shares declined for every share rising on the BSE.

9:34 am Buzzing: Persistent Systems share price dropped more than 9 percent after the company lowered its revenue and margin growth for last quarter of financial year 2017-18.

The Midcap IT company informed exchanges on Tuesday that it is expecting a decline in IP revenues during Q4 FY18, which will impact revenue and EBIDTA margin for the quarter.

9:27 am Edelweiss maintains Buy on Persistent: Persistent Systems has informed stock exchanges that the company’s Q4FY18 IP revenue is likely to dip by USD 8 millionn.

9:20 am Demerger: Fortis Healthcare (FHL) said its board has approved demerger of its hospitals business, which will be acquired by Manipal Hospitals and TPG Capital, along with the sale of 20 percent stake in diagnostics chain SRL Ltd., in a Rs 3,900-crore deal.

source: moneycontrol.com