PM Modi reviews Covid-19 vaccine facilities in three-city tour

Prime Minister Narendra Modi, on Saturday, reviewed the operations at Covid-19 vaccine facilities in the country. PM Modi visited Zydus Biotech Park in Ahmedabad to review the DNA-based vaccine being developed by Zydus Cadila. He later visited Bharat Biotech’s facility in Telangana to review the progress of Covaxin, which is undergoing Phase-3 trials. Lastly, the PM visited the Serum Institute in Pune. He tweeted that the Government would support these facilities in the process of vaccine development.

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SEBI bars NDTV promoters from securities market for two years

The Securities and Exchange Board of India (SEBI) has barred NDTV promoters Prannoy Roy and Radhika Roy from the securities market for two years. They have been found guilty of indulging in insider trading activities from more than 12 years ago. SEBI has also directed them to surrender illegal gains of more than Rs 16.79 core.

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Petrol price crosses Rs 82-mark, diesel above Rs 72 a litre

On Saturday, the petrol price crossed the Rs 82-mark and diesel surpassed Rs 72 per litre in Delhi. The price of petrol was hiked by 24 paise per litre and diesel price by 27 paise a litre. as hopes of a vaccine development led to a rally in international oil prices. This is the eighth increase in rates since November 20.

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French investor gives bond warning to SBI over Adani’s Australian coal mine

State Bank of India’s French investor, Amundi, has warned that it would evict one of the lender’s green bonds from a flagship fund if it helps finance Adani’s coal mine in Australia. The Carmichael coal mine has received strong opposition from climate activists because of its potential carbon emissions. Amundi stated that they had contacted SBI to voice its concern on Thursday.

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Almost 65% of domestic air travel back to pre-Covid levels: Civil Aviation Secretary

Civil Aviation Secretary Pradeep Singh Kharola stated that nearly 65% of domestic air travel has returned to the pre-Covid 19 levels. He said that there is a need to evolve strategies to provide a boost to the tourism industry. Kharola said that as more business activities and educational institutions are opening-up, air travel would further go up to 80-90% in the next 2-3 months.

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Govt to consider classifying real estate sector as different asset class: Puri

Housing and Urban Affairs Minister Hardeep Singh Puri stated that the central government will consider classifying the real estate sector as a different asset class. This would provide a further boost to the sector. The minister also urged real estate developers to offload unsold inventories, to boost demand in the economy.

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IRDAI gives in-principle approval for Bharti AXA-ICICI Lombard merger deal

The Insurance Regulatory and Development Authority of India (IRDAI) has given in-principle approval for the merger of Bharti AXA General Insurance Company Ltd with ICICI Lombard Insurance Company Ltd. Earlier, the BSE, NSE, and the Competition Commission of India (CCI) had approved the proposed acquisition by ICICI. ICICI Lombard has stated that the policyholders would benefit from an enhanced product suite and deeper customer connect touch points.

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Kalpataru buys back shares worth Rs 142.68 crore

Kalpataru Power Transmission Ltd said it has brought back 58.06 lakh equity shares for Rs 142.68 crore. This constitutes 71.34% of the buyback size on the offer. The company had earlier announced to buy back its equity shares from the open market, for an aggregate amount not exceeding Rs 200 crore.

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Max Financial gets IRDAI nod for share swap agreement with Mitsui Sumitomo

Max Financial Services (MFS) has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to swap Mitsui Sumitomo’s stake in Max Life Insurance with shares of the company. The transaction consists of swapping Mitsui Sumitomo’s 20.6% stake in Max Life Insurance, with a 21.9% stake in MFS. This will result in MFS holding more than 93% in its life insurance company.

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Baba Ramdev on board of Ruchi Soya, brother Ram Bharat to be MD

Baba Ramdev has secured a place on the board of Ruchi Soya Industries Ltd. His brother Ram Bharat has been appointed as the Managing Director of the company. Recently, Ruchi Soya was acquired by a consortium consisting of Patanjali Ayurved, Divya Yog Mandir Trust, Patanjali Parivahan, and Patanjali Gramudhyog.

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