Serum Institute seeks emergency use authorisation of Covidshield in India

The Serum Institute of India (SII) has sought approval from the Drugs Controller General of India (DCGI) for emergency use authorisation (EUA) of the AstraZeneca-Oxford vaccine, Covidshield, in the country. It is the second firm, after Pfizer, to seek EUA approval from the Indian drug regulator. SII is currently conducting Phase-3 clinical trials of Covidshield in India, with the support of the Indian Council of Medical Research (ICMR). 

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Jet Airways may restart operations by summer of 2021 

The consortium led by Murari Lal Jalan and Kalrock Capital, on Monday, said that it plans to operationalise Jet Airways by the summer of 2021. They are awaiting approval of the airlines’ resolution plan from the National Company Law Tribunal (NCLT) and other regulatory authorities. As per the resolution plan, Jet Airlines intends to operate all of its historic domestic slots in India and restart international operations.

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L&T wins multiple orders for supply of mining equipment to coal, cement sectors

Larsen & Toubro’s (L&T) construction and mining equipment business has secured multiple orders from Coal India subsidiaries and firms in the cement sector. These orders are for supplying 66 units of Komatsu dump trucks, 15 units of Komatsu wheel loaders, 7 units of Komatsu hydraulic excavators, and other allied equipment. The scope of the order includes supplying equipment and maintenance contracts for supporting operations over three to four years.

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Hindalco to invest Rs 730 crore to set up new plant in Silvassa

Hindalco Industries Limited announced plans to invest Rs 730 crore to set up a 34,000-tonne extrusion plant at Silvassa, in Dadra. The company stated that the new plant will service the fast-growing market for extruded aluminum products in the western and southern regions. The commercial production at the plant is expected to start in 24 months.

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RIL raises Rs $1.4 billion in overseas debt to prepay Reliance Holding’s loans

Reliance Industries Ltd (RIL) has raised $1.4 billion (~Rs 10,342 crore) to prepay its existing foreign loans. The proceeds will be used by RIL to repay the loans of its subsidiary, Reliance Holding USA. Fourteen international banks had signed up for the transaction last week. This is the highest amount raised through debt by an Indian company from international lenders.

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IndiGo to refund all passengers for flight cancellations due to Covid-19 lockdown by January 31

Interglobe Aviation Ltd (IndiGo) said that it will refund all customer credit shells, which were created when flights were canceled due to the Covid-19 lockdowns earlier this year. The company stated that it will disburse the full 100% credit shell payments by January 31, 2021. IndiGo stated that it has already processed close to Rs 1,000 crore of refunds, which is 90% of the total amount it owed to customers.

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Goodyear India announces interim dividend of Rs 80 per share

The Board of Directors of Goodyear India Ltd has approved an interim dividend of Rs 80 per equity share of face value of Rs 10 each, for FY21. The company has fixed 15 December as the record date for determining the entitlement of the shareholder for the interim dividend. The share price of Goodyear jumped by 14% and closed at Rs 997.65 on the NSE today.

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NSE introduces weekly F&O contracts in three more currency pairs

The National Stock Exchange (NSE), on Monday, launched weekly futures and options (F&O) contracts on three currency pairs: Euro-Indian rupee, Japanese Yen-Indian rupee, and Pound Sterling-Indian rupee. The NSE stated that the weekly derivatives on currency pairs will help market participants to hedge their currency exposure from short-term market movements. It will also help in reducing time-related costs.

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LTI partners with UAE-based Injazat for accelerating digital transformation in the Middle East

Larsen & Toubro Infotech (LTI) has entered into a strategic partnership with UAE-based Injazat, to implement its best-shore service delivery model in the Middle East. The delivery model will provide Injazat’s customers with a hybrid of delivery approaches including onshore and cloud. LTI will further advance Injazat’s wider digital delivery ecosystem.  

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BLS International signs contract with Brazil Embassy in China to operate visa application centres

BLS International Ltd announced that it has commenced accepting appointments for visa applications for the Embassy of Brazil in China. The five-year exclusive contract from the Embassy mandates BLS to operate 15 centres across China. The company is expected to process over 4,00,000 applications over the next 5 years.

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At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]

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