Coronavirus News LIVE Updates: AP logs 685 new COVID-19 cases, four deaths push toll to 6,996

Andhra Pradesh reported 685 fresh coronavirus cases, 1,094 recoveries and four deaths in 24 hours ending 9 AM on Tuesday. The state's Covid19 chart showed 8,68,749 total positives, 8,54,326 recoveries and 6,996 deaths so far.

Dec 1, 2020 7:51 PM

Coronavirus News LIVE Updates: COVID-19's long-term impact could lead to more new HIV infections, warns UN

The rapid spread of the novel coronavirus has created additional setbacks for the global AIDS response and there could be an estimated 123,000293,000 additional new HIV infections and 69,000148 000 additional AIDS-related deaths between 2020 and 2022 as a result of the COVID-19 pandemic's long-term impact, according to a new report. The Joint United Nations Programme on HIV/AIDS (UNAIDS) said in its new report 'Prevailing against pandemics by putting people at the centre' that as COVID-19 pushes the AIDS response even further off track and the 2020 targets are missed, countries must learn from the lessons of underinvesting in health and to step up global action to end AIDS and other pandemics.

Dec 1, 2020 7:50 PM

Coronavirus News LIVE Updates: Maha sees 4,930 new COVID-19 cases, 6,290 recoveries; 95 die

Maharashtra on Tuesday reported 4,930 fresh COVID-19 cases, taking the count of infections to 18,28,826, the state health department said. With 95 more patients succumbing to the viral infection, the overall toll mounted to 47,246, it said.

Dec 1, 2020 7:48 PM

Thank you readers! Here are the key highlights from today's session

- Market Regains Friday’s Losses; Sensex & Nifty Post Record Close

- Nifty Closes Above 13,100 & Sensex 44,600 For The 1st Time Ever

- Sensex Gains 506 Points To 44,655 & Nifty 140 Points To 13,109

- Nifty Bank Advances 209 Points To 29,818 & Midcap Index 189 Points To 19,904

- Except FMCG, All Sectoral Indices Record Gains; Realty & PSU Bank Top Gainers

- 35 Nifty Stocks Close Higher; GAIL, Sun Pharma, IndusInd Top Gainers

- Infosys, ICICI, RIL & HDFC Top Contributors To Nifty

- Bajaj Auto & Maruti Move Higher Despite Reporting Sales Lower Than Estimates

- M&M, Escorts Gain On Strong Tractor Sales; M&M Tractor Sales Up 56% YoY

- Realty Stocks Continue To Gain On Improved Demand; Godrej Properties Up 2%

- Market Breadth Favours Advances; Advance-Decline Ratio At 2:1

Dec 1, 2020 3:41 PM

Closing Bell: Sensex, Nifty end at record close; all sectors in the green

Indian indices ended at record close on Tuesday led by gains in IT, pharma and metal sectors as faster than expected recovery in the GDP growth also lifted sentiment. A pick-up in manufacturing helped GDP clock a lower contraction of 7.5 percent in Q2. The GDP had contracted by a record 23.9 percent in the June quarter of FY21. The Sensex ended 506 points higher at 44,655 while Nifty rose 140 points at 13,109. On the Nifty50 index, GAIL, Sun Pharma, IndusInd Bank, Tech Mahindra, and UPL were teh top gainers while Nestle, Kotak Bank, Titan, Bajaj Finance and HDFC Bank led the losses. Broader markets were also positive with the Nifty Midcap and Nifty Smallcap indcies up 1 percent each. All sectors also ended the day on a positive note with Nifty IT, Nifty Pharma and Nifty Metal up over 1.5 percent each.

Dec 1, 2020 3:36 PM

Dec 1, 2020 3:24 PM

Glenmark Pharma gets tentative nod from USFDA for cancer treatment drug

Drug major Glenmark Pharma on Tuesday said it has received tentative approval from the US health regulator for Axitinib tablets, used in the treatment of kidney cancer. The tentatively approved product is the generic version of Inlyta tablets of PF Prism CV. Glenmark Pharmaceuticals Inc, USA has received tentative approval by the United States Food & Drug Administration (USFDA) for Axitinib tablets in the strength of 1 mg and 5 mg, the company said in a regulatory filing. Quoting IQVIA sales data for the 12 months ending October 2020, Glenmark Pharma said the Inlyta Tablets, 1 mg and 5 mg market achieved annual sales of approximately USD 518.8 million. Glenmark’s current portfolio consists of 166 products authorised for distribution in the US market and 45 ANDA’s pending approval with the USFDA.

Dec 1, 2020 3:14 PM

SC rejects Chanda Kochhar's appeal against HC order dismissing her plea regarding termination

The Supreme Court Tuesday rejected the appeal filed by Chanda Kochhar against the Bombay High Court order which had dismissed her plea against being removed as the managing director and CEO of ICICI Bank. Sorry, we are not inclined to interfere with the high court order, a bench headed by Justice Sanjay Kishan Kaul said.

This falls within the realm of private bank and employee, the apex court said. The bench was hearing Kochhar’s appeal against the March 5 order of the high court which had dismissed the plea against termination of her services as managing director and CEO of ICICI Bank while noting that the dispute arises from a contract of personal service.

Dec 1, 2020 3:01 PM

Dec 1, 2020 2:47 PM

Lupin | Drug major Lupin has received US FDA approval for Penicillamine Tablets, indicated in the treatment of Wilson’s disease, Cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy.

Dec 1, 2020 2:35 PM

Eicher Motors November Sales | Total commercial vehicles (CV) sales rose 3.2 percent to 3,710 units from 3,594 units, YoY. Domestic CV sales increased 4.7 percent to 3,088 units from 2,948 units while CV exports declined 5.8 percent to 473 units as against 502 units, YoY.

Dec 1, 2020 2:22 PM

Dec 1, 2020 2:10 PM

IIFL Finance and Indiabulls' asset quality vulnerable, Muthoot better positioned: Moody's

Asset quality at NBFCs, IIFL Finance and Indiabulls Housing Finance, is 'vulnerable', noted Moody’s in a recent report. However, another NBFC, Muthoot Finance is better positioned, it added. The vulnerability in asset quality in IIFL Finance and Indiabulls Housing is on the back of economic contractions. Even though both companies reported improvements in loan collections and relatively stable asset quality for the first half of FY21, yet they will inevitably face increases in loan delinquencies when government support measures end, the rating agency explained. However, Muthoot Finance is better positioned as a surge in gold prices aided loan recoveries and disbursements. Going forward, it added that modest loan growth and loan sales will help IIFL and Indiabulls maintain capitalisation despite the weakening of profitability. More here

Dec 1, 2020 2:03 PM

Serum says 'Covishield' safe and immunogenic; clarifies volunteer’s illness not due to vaccine

Amid concerns over the adverse event that was reported by a volunteer who participated in Serum Institute's vaccine trial, the company has issued a statement saying that ‘Covishield’ is safe and immunogenic. "The incident with the Chennai volunteer though highly unfortunate was in no way induced by the vaccine and Serum Institute of India is sympathetic with the volunteer's medical condition," said Serum Institute in a statement issued on Tuesday. The vaccine manufacturer clarified that all the requisite regulatory and ethical processes and guidelines were followed diligently and strictly. More here

Dec 1, 2020 1:55 PM

Cryptocurrency sets new record at $19,860; one analyst sees $318,000 next year

Cryptocurrency bitcoin soared to a record high against the dollar on Monday, boosted by increased demand from both institutional and retail investors. The digital unit touched an all-time peak of $19,864.15, breaking its prior record set nearly three years ago. It was last up 6.1 percent at $19,306.35. Last Friday, however, bitcoin dropped more than 8 percent, below $17,000, before rebounding on Monday. This year, the asset class saw a climb of 170 percent fuelled on the back of long list of positive triggers: Biden's huge victory, hopes of a fiscal and monetary stimulus, demand for riskier assets, Square's purchase of $50 million in BTC and PayPal's support for crypto operations. The eye-popping gains that BTC made this year is also due to its small quantity. The ownership of BTC remains highly concentrated in the hands of a small number of investors who are the early adopters of the digital currency. More here

Dec 1, 2020 1:41 PM

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