India's Morepen Laboratories rises after unit to form joint venture

** Shares of Morepen Laboratories MOREPENLAB rise nearly 4% to 50.96 rupees

** Pharma co's subsidiary, Morepen Medipath, to hold 50% stake in JV with Bimedical FZE

** JV will manufacture, trade medical devices-related products

** Trading volume at 4.4 mln shares so far, 1.3x 30-day average

** MORL down ~35% YTD