Top headlines: Coronaviurs vaccine, IDBI Bank stake sale, and more
We are researching two candidates for Covid vaccines: Serum Institute CEO
Pune-headquartered Serum Institute of India (SII), the world’s largest vaccine maker by quantity, has been in the spotlight, having committed itself to supplying 3.2 billion doses of the Covid-19 vaccine. This is more than double the company’s FY20 production of 1.5 billion doses. Read More
AAI raises objections to Adani Enterprises branding in private airports
The Airports Authority of India (AAI), the state-owned airport operator, has objected to Adani Enterprises using its brand name in three airports — Mangaluru, Lucknow, and Ahmedabad — it (Adani) acquired two months ago. Read More
On the road to recovery: Marquee companies raise advance tax payment
Most marquee companies have increased their advance tax payment for the third quarter (October-December, or Q3) by double digits. It’s a sign that Corporate India is on the road to recovery. Read More
IDBI Bank stake sale in limbo as govt faces legal hurdles in exit
The government is facing legal challenges in exiting IDBI Bank. It might have to repeal the same legislation under which IDBI was incorporated as a bank, but annulling it could leave the lender without a banking licence. Read More
60% of large-cap schemes underperform as rejig in weighting hits showing
Three of five (60 per cent) equity large-cap schemes have underperformed the Nifty100 index this calendar year (CY20).Seventeen of the 29 schemes underperformed the benchmark’s returns of 11.8 per cent in CY20, shows the data from Morningstar India. Read More
Tax parity with ULIPs tops Afmi’s wish list ahead of Union Budget
Industry body Association of Mutual Funds in India (Amfi) has released a 10-point wish list ahead of the Union Budget 2021-22.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds (MFs). Read More
Large IT outsourcing contracts back on the market as clients optimise cost
Large IT outsourcing deals are back on the market and the pace seems to have gathered steam this year despite the ongoing pandemic. However, whether this is reason enough for the sector to rejoice, the answer is not straightforward as it should have been in normal time. Read More
InMobi Group: This Make-in-India innovator is raring to go places
Mobile advertisement and software company InMobi is all set to enter a phase of hyper-growth, and with this multiplies the tasks for founder and CEO Naveen Tewari. Read More
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