BENGALURU (Reuters) - India s Cadila Healthcare Ltd has sought approval from local regulators to use a Hepatitis C drug as a treatment for COVID-19 following promising interim results from a late-stage trial, the drugmaker said on Monday. A single dose of the Hepatitis C drug when taken early could help COVID-19 patients recover faster and avoid complications seen in the advanced stages of the disease, Cadila said in a statement to stock exchanges. About 91% of patients treated with the drug tested negative for COVID-19 in standard RT-PCR tests by day seven, compared to nearly 79% who were given the standard of care, the company said citing Phase-III clinical trial data.
Adani Road Transport, a wholly-owned subsidiary of Adani Enterprises, secured a road project worth Rs 2,020.93 crore.The order entails six laning of National Corridor NH-19 from Panagarh to Palsit in West Bengal under Bharatmala Pariyojana to be executed on BOT-(Toll) basis. The concession period is 20 years including contruction period of 2.5 years.
With this project award, Adani Group will have total nine NHAI road projects under HAM, toll-operate-transfer (TOT) and build-operate-transfer (BOT)-Toll basis in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat and West Bengal.
Meanwhile, Adani Enterprises along with its wholly owned subsidiary company, Gare Palma II Collieries (GPIICPL) has signed coal mining agreement (CMA) with Maharashtra State Power Generation Company (MAHAGENCO) for development and operation of Gare Palma Sector II Coal Mine.
Power stocks were trading in green, with the S&P BSE Power index increasing 17.45 points or 0.69% at 2561.15 at 09:49 IST. Among the components of the S&P BSE Power index, Adani Transmission Ltd (up 5.52%), Adani Power Ltd (up 4.98%), Adani Green Energy Ltd (up 2.98%), and Thermax Ltd (up 0.14%), were the top gainers. On the other hand, Bharat Heavy Electricals Ltd (down 1.57%), NTPC Ltd (down 0.97%), and Torrent Power Ltd (down 0.97%) turned lower.
At 09:49 IST, the S&P BSE Sensex was down 401.76 or 0.8% at 49628.07.
The Nifty 50 index was down 105.1 points or 0.71% at 14762.25.
The S&P BSE Small-Cap index was down 37.34 points or 0.18% at 21034.35.
The S&P BSE 150 Midcap Index index was down 31.89 points or 0.46% at 6954.22.
Arvind Fashions rose 2.31% to Rs 161.50 on bargain hunting after a recent slide.
The stock declined 8.41% in the past five sessions to end at Rs 157.85 yesterday (15 March 2021), from its recent closing high of Rs 172.35 on 5 March 2021.
In the past one year, the stock has declined by 33.65% while the benchmark Sensex has added 61.50% during the same period.
On the technical front, the stock s RSI (relative strength index) stood at 52.072. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 155.77, 145.90 and 143.92, respectively.
Adani Welspun Exploration (AWEL), a joint venture between the Adani Group and Welspun Enterprises, announced its first ever gas discovery in the NELP-VII block MB-OSN-2005/2.AWEL holds 100% participative interest (PI) and is the operator of this block. Spread across 714.6 square km, the block is located in the prolific gas-prone Tapti-Daman sector of Mumbai Offshore basin where production is already underway by another operator/other operators.
The pay zones and flow rates encountered have exceeded the company s initial estimates. With the information gleaned from adjoining fields/areas, this discovery is of substantial significance for both the company and the nation.
AWEL was awarded the block under the New Exploration Licensing Policy VII bid round. Early indications pointed to the occurrence of gas-bearing reservoirs within the sand stone reservoirs of the Mahuva and Daman formations.