Stock Market Live: Sensex rises 300 points, Nifty around 10,850; RIL hit Rs 12

Market Update: 48 Nifty stocks in the green, only two trading in the red- HDFC, HDFC Bank

Biocon receives DCGI nod for use of Itolizumab drug in moderate to severe COVID-19 patients

Biocon Ltd on Saturday announced that its Itolizumab drug has received the Drugs Controller General of India’s (DCGI) approval for treating patients with moderate to severe COVID-19 complications. DCGI has approved to market Itolizumab (ALZUMAb) injection 25mg and 5mL solution for emergency use in India for the treatment of cytokine release syndrome (CRS) in moderate to severe ARDS (acute respiratory distress syndrome) patients due to COVID-19, Biocon said in an exchange filing. Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe COVID-19 complications, it added.

RIL’s shares surge over 3%, hit all-time high

Reliance Industries’ share price hit an all-time high on Monday after the company received 13th investment from Qualcomm towards Jio Platforms. The American firm will invest Rs 730 crore for 0.15 percent stake in RIL’s technology arm. The stock gained as much as 3.24 percent to Rs 1,939 per share on the NSE. The shares remained in-line at 9:40 am, trading 2.85 percent higher to Rs 1,931.50.

Opening Bell: Sensex, Nifty start the week on a firm note; RIL top contributor

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