The company has informed the exchanges that its subsidiary - Caplin Steriles has entered into a private label distribution agreement with Xellia Pharma for five generic injectable ANDAs in the U.S.

The first product is expected to be launched shortly while approvals for the rest are expected in the next 12-18 months, the company said in an exchange filing.

The ANDAs are under the name of Caplin Steriles and will be commercialised in the U.S. by Xellia.

Shares gained as much as 3.5% to Rs 352.5, up for the third straight day.

• Benchmarks give up opening gains, trade flat
• Nifty unchanged at 10,771
• Sensex up 0.1% at 36,538
• Nifty Bank down 0.4% at 22,133
• Nifty Midcap Index up 0.2%
• Nifty Smallcap Index up 0.9%
• India Volatility Index up 0.4% to 25.28
• Nifty PSU Bank is the top sectoral laggard; down 1.1%
• Nifty I.T. is the top sectoral gainer; up 1.7%
• Nifty Pharma is the other sectoral gainer; up 0.8%
• Infosys is the top Nifty gainer; up 2.6%
• Power Grid is the top Nifty laggard; down 2.6%
• 876 stocks on the NSE trade with gains while 802 decline

The rupee opened flat in today's trade after snapping a two-day gaining streak on Monday.

The currency opened at 74.69 against the U.S. Dollar as compared to Monday's close of 74.68, as importers stepped up purchases of the greenback.

The losses meant that the rupee ended as the worst performing currency in Asia on Monday.

Within the bond markets, traders will keep an eye on state government bond auctions. 13 Indian states plan to sell bonds worth Rs 11,500 crore.

In a large trade on Monday, Infinity Holdings acquired 6.64 lakh shares or 0.55% stake in the company, at Rs 56 per share.

Shares gained as much as 10.2% - the biggest single day gain since May 2019 to Rs 61.80. The stock is up for the third straight day and is trading at the highest level in four months.

The stock has also gained in four out of the last five trading sessions, and is up 15% during the period.

Brokerage firm Goldman Sachs added the I.T. major to its conviction list, raising its price target to Rs 895 from the earlier Rs 756.

Goldman Sachs believes that a large Indian delivery base will be a key competitive advantage for Infosys and that the street is under-appreciating the technological strength of the company.

It also sees tailwinds around outsourcing and offshoring in the medium-term.

Goldman has raised the company's U.S. Dollar revenue growth estimates to 11.9% and 9.9% respectively for FY22 and FY23 respectively from the 10.8% and 9.8% earlier.

Shares are at the day's high, gaining as much as 3.1% to Rs 788. The stock is up for the fourth straight day and is the top performer on the Nifty 50 index.