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Lupin announced that it has entered into a licensing and supply agreement with Spektus to commercialize its antidepressant formulation DeslaFlex in Canada.
NTPC announced that its joint venture NTPC-SAIL Power Company has commenced operations of an additional 5 MW at its Bhilai Solar Project, taking the group’s total commercial capacity to 86,729 MW.
Cochin Shipyard has emerged as the L1 (lowest) bidder for a Rs 5,000 crore order from the Ministry of Defence to manufacture five survey vessels for the Indian Navy.
Texmaco Rail & Engineering has secured a Rs 219 crore contract from Mumbai Railway Vikas Corporation for construction work in the Mumbai suburban railway network.
BLS E-Services announced that it has signed binding term sheet, to acquire a 100% stake in Atyati Technologies for Rs 154 crore.
TVS Supply Chain Solutions has signed a memorandum of understanding (MoU) with Italy-based ALA Group to provide services to the Indian aerospace and defence market.
This strategic partnership combines Lupin’s strong commercial footprint in Canada and Spektus’s capabilities in developing differentiated, novel formulations to successfully introduce DeslaFlex and establish a robust platform for future launches. The collaboration further strengthens Lupin’s CNS portfolio with physician-endorsed, value-added therapies, well aligned with a supportive regulatory environment.
Claus Jepsen, President, Global Speciality, Lupin, “This milestone reinforces our long-term commitment to advancing Lupin’s CNS footprint and deepens our commitment to Canadian healthcare. The addition of DeslaFlex™ to our portfolio provides patients and clinicians with much-needed flexibility in the management of Major Depressive Disorder, enabling clinicians to deliver more personalized, patient-focused care.”
Zarvaan Merchant, Chief Executive Officer of Spektus Pharma, said, “This partnership with Lupin represents a key milestone as Spektus transitions from development to commercial execution. Lupin’s global brand and established commercial strength in Canada make it an ideal partner to realize the full value of DeslaFlex™ for patients across this important market.”
Lupin is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. It specializes in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients.
Lupin reported a 37.46% surge in consolidated net profit to Rs 1,175.55 crore in Q3 FY26 as against Rs 855.16 crore posted in Q3 FY25. Total revenue from operations jumped 24.26% year-on-year to Rs 7,167.52 crore in the quarter ended 31 December 2025.
Total revenue from operations jumped 24.26% year-on-year to Rs 7,167.52 crore in the quarter ended 31 December 2025.
Profit before tax stood at Rs 1,522.04 crore during the quarter, up 4207% from Rs 1,071.27 crore recorded in Q3 FY25.
EBITDA stood at Rs 2,376.6 crore in Q3 FY26, registering a 68.6% growth compared with Rs 1,409.80 crore in Q3 FY25. The EBITDA margin improved 840 basis points to 33.5% in Q3 FY26 from 25.1% in Q3 FY25.
U.S. sales for Q3 FY26 rose 54% to Rs 3,113.2 crore ($350 million) from Rs 2,022.1 crore ($240 million) in Q3 FY25, accounting for 44% of the company’s global sales. During the quarter, the company received 1 ANDA approval from the U.S. FDA and launched 3 products in the U.S., taking its total generic portfolio to 149 products.
Lupin continues to be the 3rd largest pharmaceutical player in both U.S. generic market and U.S. total market by prescriptions (IQVIA Qtr. TRx Dec 2025). Lupin is the leader in 55 of its marketed generics in the U.S. and amongst the Top 3 in 116 of its marketed products (IQVIA Qtr Dec 2025 by extended units).
India sales for Q3 FY26 were Rs 2,038.7 crore, up 5.6% from Rs 1,930.5 crore in Q3 FY25, accounting for 29% of the company’s global sales. India Region Formulation sales rose 10.9% in the quarter compared to Q3 FY25. During the quarter, the company launched 3 brands across therapies. Lupin is the 8th largest company in the Indian pharmaceutical market (IQVIA MAT Dec 2025).
Lupin’s Other Developed Markets sales for Q3 FY26 were Rs 812.1 crore, up 10.8% from Rs 732.8 crore in Q3 FY25, accounting for 11% of the company’s global sales.
The company’s Emerging Markets sales for Q3 FY26 were Rs 917.0 crore, up 42.4% from Rs 644.1 crore in Q3 FY25, accounting for 13% of the company’s global sales.
Global API sales for the quarter were Rs 219.5 crore, down 24.1% from Rs 289.1 crore in Q3 FY25, accounting for 3% of global sales.
Investment in Research & Development stood at Rs 535.2 crore (7.5% of sales) for Q3 FY26, up from Rs 441.2 crore (7.9% of sales) in Q3 FY25.
During the quarter, Lupin received approval for 1 ANDA from the U.S. FDA, taking its cumulative ANDA filings to 431 as of December 31, 2025, with 341 approvals received to date. The company now has 52 First-to-File (FTF) filings, including 22 exclusive FTF opportunities. Cumulative U.S. DMF filings stand at 93 as of December 31, 2025.
Commenting on the Q3FY26 results, Nilesh Gupta, MD, Lupin, said “We are happy to deliver another quarter of strong growth led by our highest ever quarterly sales in the US and double-digit growth in India and all other regions. We are on track to deliver a strong close to FY26.'
Shares of Lupin declined 1.55% to Rs 2,175.90 on the BSE.
Under the terms of the Agreement, Lupin will pay Astellas (1) USD 90 million, which includes a Prepaid Option Payment of USD 75 million, and (2) a Prepaid Per Unit License Fee for each unit of Lupin Product sold from the date of the settlement through September 2027. The settlement terms are confidential.
Lupin announced a strategic collaboration with TB Alliance, a nonprofit drug developer, to advance the clinical development and commercialization of the investigational drug Telacebec (formerly known as Q203), for the treatment of multiple mycobacterial diseases including tuberculosis (TB), leprosy, and buruli ulcer.
Under the terms of the agreement, Lupin and TB Alliance will collaborate to support the clinical development and commercialization of Telacebec, to provide advanced treatment options for patients affected by these diseases. TB Alliance will continue to lead the development process, while Lupin will provide its expertise in global manufacturing, regulatory affairs, and supply chain to ensure global access to Telacebec.
Dasatinib Tablets, 20 mg, 50 mg, 70 mg, 80mg, 100 mg, and 140 mg are bioequivalent to Sprycel® Tablets, 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg, of Bristol-Myers Squibb Company, and indicated for the treatment of:
- newly diagnosed adults with Philadelphia chromosome-positive (Ph+) chronic myeloid leukemia (CML) in chronic phase
- adults with chronic, accelerated, or myeloid or lymphoid blast phase Ph+CML with resistance or intolerance to prior therapy including imatinib
- adults with Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL) with resistance or intolerance to prior therapy
- pediatric patients 1 year of age and older with Ph+ CML in chronic phase
- pediatric patients 1 year of age and older with newly diagnosed Ph+ ALL in combination with chemotherapy
Ramesh Swaminathan, executive director, Global CFO, and Head of IT and API Plus SBU, Lupin, said, “This collaboration with TB Alliance underscores Lupin’s enduring commitment to improving patient outcomes in areas of significant unmet medical need. By leveraging our manufacturing scale and global distribution capabilities alongside TB Alliance’s deep expertise in drug development, we aim to enable timely and equitable access to Telacebec and contribute meaningfully to the global fight against tuberculosis, leprosy, and Buruli ulcer.”
Mel Spigelman, managing director (MD), president and chief executive officer (CEO), TB Alliance, said, “Telacebec represents the kind of scientific innovation that has the potential to transform treatment for diseases that have long been neglected. By partnering with Lupin, we are combining deep scientific expertise with global Chemistry, Manufacturing and Controls and access capabilities to help move this promising compound forward as quickly and responsibly as possible, with the ultimate goal of delivering better treatment options to people affected by tuberculosis, leprosy, and Buruli ulcer around the world.”
The company had reported a 73.33% surge in consolidated net profit to Rs 1,477.92 crore in Q2 FY26 as against Rs 852.63 crore posted in Q2 FY25. Revenue from operations jumped 24.27% year-on-year to Rs 6,831.43 crore in the quarter ended 30 September 2025.
The counter declined 1.77% to Rs 2100.70 on the BSE.