Sensex surges over 500 points in early trade; Nifty above 17,150

BSE Sensex was trading 515.05 points or 0.90% higher at 57,579.92 in initial deals; NSE Nifty rose 185.15 points or 1.09% to 17,168.35

Equity benchmark Sensex jumped over 500 points in early trade on December 1, tracking gains in index majors HDFC twins, Tata Steel and Reliance Industries amid positive cues from Asian markets.

The 30-share index was trading 515.05 points or 0.90% higher at 57,579.92 in initial deals. Similarly, the Nifty rose 185.15 points or 1.09% to 17,168.35.

IndusInd Bank was the top gainer in the Sensex pack, rising 3.21%, followed by Tech Mahindra, HDFC, Tata Steel, SBI, Asian Paints and NTPC.

On the other hand, Dr. Reddy’s and PowerGrid were among the losers.

In the previous session, the 30-share BSE index settled 195.71 points or 0.34% lower at 57,064.87. Similarly, the NSE Nifty declined 70.75 points or 0.41% to close below the 17,000-mark at 16,983.20.

Elsewhere in Asia, bourses in Tokyo, Hong Kong, Shanghai and Seoul were trading with gains in mid-session deals.

Stock exchanges in the U.S. ended with losses in the overnight session.

Meanwhile, international oil benchmark Brent crude fell 3.91% to $70.57 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth ₹5,445.25 crore on November 30, as per exchange data.

Sanofi To Buy Austrian Biotech Firm Origimm Biotechnology – Quick Facts

French drug major Sanofi (SNYNF,SNY) announced Wednesday that it entered into an agreement to acquire Austrian privately owned biotechnology company Origimm Biotechnology GmbH.

The acquisition is expected to close early December 2021.

Origimm specializes in the discovery of virulent skin microbiome components and antigens from bacteria causing skin disease, such as acne.

The transaction will add ORI-001 to Sanofi’s early-stage pipeline. ORI-001 is a therapeutic vaccine candidate for acne vulgaris based on recombinant proteins, which entered preliminary clinical studies in the third quarter.

In parallel, Sanofi is working to develop additional antigen versions and expects to leverage its next-generation mRNA platform in a comprehensive Ph1/2 trial to start in 2023.

With the acquisition, Sanofi said it continues executing its global Play to Win strategy, pursuing growth opportunities and building an industry-leading vaccines pipeline.

Thomas Triomphe, Executive Vice President, Global Head of Sanofi Pasteur, said, “The acquisition of Origimm further broadens our vaccines R&D pipeline with a first vaccine candidate against acne, a high medical need for millions of teenagers and adults. Welcoming Origimm within Sanofi expands our area of expertise by bringing extensive know-how in the field of skin microbiome and skin immunology. We look forward to unlocking the full potential of this candidate.”

TVS’ Apache RTR 200 4V gets new LED headlamp

TVS has updated the Apache RTR 200 4V with a new LED headlamp. The move comes after the manufacturer updated the popular RTR 160 4V in early October.

The new LED headlamp features a less polarising DRL design, with the quizzical eyebrow LEDs being replaced by a new LED strip that runs across the centre of the headlamp

The rest of the motorcycle continues as before, with the 197.75cc, four-valve, air- and oil-cooled motor producing 20.82hp and 17.25Nm of torque. The RTR 200 4V comes with numerous segment-first features, including three riding modes, preload adjustability for the front fork, Bluetooth connectivity and adjustable hand levers.

The bike continues to be available in two variants — single-channel and dual-channel ABS. The same three colours are available, namely Gloss Black, Matte Blue and Pearl White. The base model is priced at ₹ 1,33,840 while the top model costs ₹ 1,38,890 (all prices, ex-showroom, Delhi). This presents a small price hike of roughly ₹ 800 per model over the outgoing version.

Liontrust Asset Management H1 Profit Surges, Lifts Dividend; Says Confident On Continued Growth

Liontrust Asset Management Plc (LIO.L), an independent fund management group, reported Wednesday that its first-half profit before tax was 31.1 million pounds, an increase of 352% from last year’s 6.9 million pounds.

Adjusted profit before tax was 43.1 million pounds, compared to 22.3 million pounds last year. Adjusted earnings per share were 56.94 pence, compared to prior year’s 30.74 pence.

Revenue for the period grew to 114.89 million pounds from last year’s 69.08 million pounds.

On September 30, 2021, assets under management and advice or AuMA were 35.7 billion pounds, an increase of 15% since the start of the financial year and 73% compared to AuMA on September 30, 2020.

Further, the company said its Board is declaring a first Interim dividend of 22.0 pence per share, an increase of 100% from last year’s 11 pence per share. The dividend will be payable on January 14, 2022 to shareholders who are on the register as at December 10, 2021.

Looking ahead, the company said it is confident about the continued growth over the coming months and that it continues to trade in line with market expectations.

John Ions, Chief Executive, said, “Liontrust is well positioned to maintain the momentum into the future as we seek to broaden sales across distribution channels.”

Aviva Concludes Sale Of Its Life Insurance Business In Italy

Aviva plc (AV) on Wednesday announced the completion of the sale of its Italian Life Insurance businesses to CNP Assurances. With the receipt of the cash consideration of 462 million pounds (543 million euros), the exit from the Italian market stands completed.

The transactions were announced in March 2021.

Shares of Aviva closed Tuesday’s trading at 385 pounds, up 6.80 pounds or 1.80 percent from previous close.