Covid-19 expert panel recommends SII’s Covishield for emergency use

The Subject Expert Committee (SEC) on Covid-19 of the Central Drugs Standard Control Organisation (CDSCO) has recommended granting emergency use authorisation (EUA) for ‘Covishield’, a Covid-19 vaccine developed by Oxford University and AstraZeneca. The Pune-based Serum Institute of India (SII) has tied up with AstraZeneca to manufacture Covishield in India. The Drugs Controller General of India (DCGI) will now take the final decision on emergency approval of the vaccine based on the expert panel’s recommendations.

After SII’s application, the SEC has started reviewing the EUA application by Bharat Biotech for its Covid-19 vaccine, Covaxin, and is yet to take a final decision on the matter.

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Tata Sons overtakes GoI as largest promoter of listed companies

As per a report from Business Standard, Tata Sons has overtaken the Government of India (GoI) as the largest promoter of listed companies. This is the first time in nearly two decades that the government has not held the position. This has been due to the decline in the market capitalisation of state-run companies. The report states that Tata Sons’ stake in the conglomerate’s listed companies is now worth Rs 9.28 lakh crore, up 34.4% on a year-on-year (YoY) basis.

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Automobile companies register improved sales growth in December

Major automobile companies registered healthy sales growth during December 2020. Maruti Suzuki posted a 20.2% YoY increase in total sales at 1.60 lakh units in December, which was led by compact vehicles, LCVs, and vans. Mahindra & Mahindra announced that its overall passenger vehicle sales were up 3% YoY at 16,182 units, with a 3% growth in exports at 2,210 units. Escorts Ltd’s domestic tractor sales grew 90% YoY at 7,230 units, while exports were up 63.3% at 503 units.

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WHO approves Pfizer-BioNTech vaccine for emergency use

The World Health Organization (WHO) announced that it has cleared the Pfizer-BioNTech coronavirus vaccine for emergency use. This means that poorer countries may soon get access to the shot, which is already available in Europe and North America. Every country that has a drug regulatory agency will have to issue its own approval for any COVID-19 vaccine. However, countries with weak systems usually rely on the WHO to vet the shots.

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TCS completes acquisition of Postbank Systems from Deutsche Bank AG

Tata Consultancy Services (TCS), on Friday, said it has completed the acquisition of 100% shares of Postbank Systems AG (PBS) from Deutsche Bank AG. PBS has been the internal IT provider for Postbank AG, a subsidiary of Deutsche Bank. It caters to the German retail banking market. In November 2020, TCS had announced its plans to acquire Postbank Systems through its subsidiary, Tata Consultancy Services Netherlands B.V.

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Praj Industries bags Rs 226 crore order from Indian Oil Corporation

Praj Industries Ltd, on Friday, said it has bagged a Rs 226.90 crore order from Indian Oil Corporation Ltd (IOCL). The company stated that the order is for the execution of a zero liquid discharge system – water treatment package and wastewater treatment package of Acrylic/Oxo-Alcohol Project, at IOCL Dumad in Gujarat. Praj Industries is a Pune-based industrial biotechnology company.

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Coal India output rises 6% to 157 million tonnes in Q3

Coal India Ltd’s output grew 6.3% YoY at 156.8 million tonnes (MT) during the October-December quarter (Q3). The company had reported an output of 147.5 MT during the same period in the previous financial year (FY20). The state-owned mining company also posted over 9% YoY growth in offtake at 154.6 MT during Q3 FY21. [Coal offtake is the amount of coal supplied from the coal mine]

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Gayatri Projects declared lowest bidder for road project worth Rs 1,323 crore

Gayatri Projects Ltd said it has been declared as the lowest bidder for a road project worth Rs 1,323.52 crore. The company has been declared as an L-1 bidder for the development of a six-lane access-controlled highway in the Uttar Pradesh portion of the Delhi-Saharanpur Highway. Gayatri Projects is a Hyderabad-based construction engineering company.

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Dabur launches ‘Dabur Red Pulling Oil’, an Ayurvedic mouthwash

Dabur India Ltd has announced its entry into the mouthwash category with the launch of Dabur Red Pulling Oil, an Ayurvedic mouthwash. The launch of this Ayurvedic detox for teeth and gums marks another first for Dabur and the Ayurvedic products industry in India. Priced at Rs 275 for a 195ml pack, Dabur Red Pulling Oil is initially available across all leading e-commerce platforms and will soon be rolled out through regular retail channels.

Adani Green secures 600 MW wind-solar hybrid power project

Adani Green Energy announced that its subsidiary, Adani Renewable Energy Holding Eight Ltd, has received the contract to build a 600 megawatts (MW) wind-solar hybrid power project. This will take the company’s total project portfolio to 14,795 MW. The fixed tariff for this project is Rs 2.41 per unit for a period of 25 years. The project is scheduled to be commissioned in 18 months from the effective date of the power purchase agreement.

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