Panacea Biotec zooms 20% as company to make 100 mn Sputnik V doses yearly

The Russian Direct Investment Fund and Panacea Biotec announced cooperation to produce 100 million doses per year of Sputnik V

Shares of Panacea Biotec were locked in the upper circuit of 20 per cent at Rs 220.85 on the BSE in Tuesday's session after the company and the Russian Direct Investment Fund (RDIF) agreed to produce 100 million doses of Sputnik V vaccine in India per year.

Till 09:19 am, a combined 384,000 equity shares had changed hands on the counter and there were pending buy orders for around 180,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.29 per cent at 49,017.

The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), and Panacea Biotec