Serum Institute receives purchase order from govt for 1.1 crore vaccine doses: Report

As per reports from news agencies PTI & ANI, the Serum Institute of India (SII) has signed a purchase order with the Central Government to procure 1.1 crore doses of Covid-19 vaccines. SII is manufacturing Oxford-AstraZeneca’s Covid-19 vaccine Covishield in India. As per reports, each dose of Covishield will cost Rs 220, inclusive of 14% GST. SII will begin the dispatch of the vaccine today (Jan 11). India will begin its nationwide vaccination drive on January 16, and priority will be given to around 3 crore healthcare and frontline workers.

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Passenger vehicle retail sales increases 24% in December: FADA

The Federation of Automobile Dealers Association (FADA) on Monday said passenger vehicle (PV) retail sales in December 2020 witnessed an increase of 23.99% year-on-year (YoY) to 2.71 lakh units. Two-wheeler sales increased 11.88% YoY to 14.24 lakh units last month, as compared to 12.73 lakh units in December 2019. The sales of commercial vehicles declined 13.52% YoY to 51,454 units during the same period. FADA collected vehicle registration data from 1,270 out of the 1,477 regional transport offices (RTOs) in India.

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Coal industry will be largest contributor to India’s $5 trillion economy dream: Amit Shah

The Central Government on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November 2020. Speaking at the event, Home Minister Amit Shah stated that the coal sector will be the largest contributor to India’s ambition of being a $5 trillion economy. He also launched the ‘Single Window Clearance System’, an online platform to obtain clearances for smooth operationalisation of coal mines. Coal Minister Pralhad Joshi announced that the next round of commercial mines auction will be launched later this month.

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Gross NPA of banks could rise to 13.5% by September: RBI

The gross non-performing assets (GNPA) of banks may rise to 13.5% by September 2021 from 7.5% in September 2020, according to the Financial Stability Report (FSR) released by the RBI. The report stated that the GNPA ratio of public sector banks and private sector banks may rise to 16.2% and 7.9%, respectively, in September 2021 under the baseline scenario. [RBI defines non-performing asset (NPA) as any loan or advance for which the principal or interest amount has been overdue for more than 90 days]

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Tesla to sign MoU with Tata Motors to launch its electric cars in India: Report

As per a report from Economic Times, it has been rumored that Tesla was planning to sign a Memorandum of Understanding (MoU) and partner with Tata Motors to manufacture and sell their electric vehicles (EVs) in India using Tata facilities. The rumors also state that Tesla had already conducted due diligence and found that Tata has the best EV infrastructure among all auto majors. There has been no official communication on this, and hence, the rumor could not be confirmed. In December 2020, Union Minister for Road Transport and Highways Nitin Gadkari had confirmed that Tesla is set to commence its India operations in 2021.

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Adani Green commissions 25 MW solar plant in Chitrakoot

Adani Solar Energy Chitrakoot One, a step-down subsidiary of Adani Green Energy Ltd (AGEL), has commissioned a 25 megawatt (MW) solar power plant. This plant has a Power Purchase Agreement (PPA) with Noida Power Company Ltd (NPCL) at Rs 3.08/kWh. With this commissioning, AGEL’s total operational renewable capacity has grown to 2,975 MW.

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BHEL secures Rs 450 crore order for steam and power plant from NALCO

Bharat Heavy Electricals Ltd (BHEL) announced that it has secured an order for a steam and power plant from National Aluminium Corporation Ltd (NALCO). The order is valued at Rs 450 crore and is a part of NALCO’s 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha.  BHEL’s scope in the contract includes design, engineering, manufacturing, supply, erection, testing, and commissioning of 1×300 TPH Coal Fired Boiler, 18.5 MW Steam Turbine Generator, and associated auxiliaries.

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Sadbhav Engineering receives LoA for metro rail project worth Rs 780 crore from GMRC

Sadbhav Engineering Ltd (SEL) announced that its joint venture has received a letter of acceptance (LOA) from Gujarat Metro Rail Corporation (GMRC) for a metro rail project worth Rs 779.73 crore. The order is in the name of Sadbhav Engineering-S.P. Singla Constructions joint venture, in which SEL holds 74% stake. The order is for the construction of an 11.6 km elevated viaduct from Kadarsha Ni Nal to Dream City dead-end.

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Dr. Reddy’s launches Febuxostat tablets in the US

Dr. Reddy’s Laboratories on Monday announced the launch of Febuxostat tablets in the United States’ market. The tablets are indicated to treat gout due to high uric acid levels. It is a generic version of Tejin Ltd’s Uloric tablets. According to IQVIA Health, Uloric brand and generic versions had sales of around $108 million (~Rs 800 crore) in the US during the last twelve months.

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J. Kumar Infra receives LoA for order worth Rs 866 crore from GMRC 

J. Kumar Infraprojects Ltd has received a letter of acceptance (LoA) from Gujarat Metro Rail Corporation (GMRC) for an order worth Rs 866 crore. The contract includes design, construction, and completion of underground stations and tunnel from Surat Railway station to Chowk Bazar Ramp. J. Kumar Infraprojects is a Mumbai-based construction engineering company.

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