Top headlines: Goldman ups India GDP forecast, vaccine may come via govt

From claims of India directly purchasing vaccine from Moderna and distributing it here to PM Modi seeking funding, Business Standard brings you the top headlines of the day

Moderna's Covid-19 vaccine may come to India through govt route

After US-based Moderna, Inc. released the interim data from late-stage trials that showed its vaccine candidate was 94.5 per cent efficacious against the Sars-CoV-2 virus, the ball has been set rolling in India. Read more...

Goldman ups India GDP forecast on vaccine hopes, now sees 10.8% contraction

Foreign brokerage Goldman Sachs on Tuesday upgraded its India GDP forecast to a contraction of 10.3 per cent in FY21, as against its earlier estimate of a negative growth of 14.8 per cent. Read more...

Lakshmi Vilas Bank under moratorium; RBI proposes merger with DBS

The Reserve Bank of India (RBI) on Tuesday proposed to merge private sector lender Lakshmi Vilas Bank (LVB) with the India subsidiary of Singapore’s DBS Bank, even as LVB was put under moratorium for at least a month by the government. Read more...

Modi seeks funding to build smarter Indian cities post pandemic
 

Prime Minister Narendra Modi is keen to attract foreign investment to modernise India’s urban centers as the world’s second-most-populous nation rebuilds its economy after the coronavirus pandemic halted activity.
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5G smartphones' market share rise even as service roll-out remains distant

The 5G telecom service may be a distant dream in India, but defying all past trends, 5G smartphones are increasingly becoming mainstream. As handset majors like Apple, Samsung, Xiaomi, and OnePlus, among others, are aggressively refreshing their portfolios with 5G smartphones, the country’s telecom market is now anticipating a robust user base well before the roll-out of services. Read more...
 

Piramal revises offer for DHFL's retail book to counter Adani bid
 

The Piramal group revised its offer for Dewan Housing Finance Corporation’s (DHFL’s) retail book on Tuesday. Oaktree Capital, which had last week revised its offer for all assets of DHFL to Rs 31,000 crore, did not make any further revision. Read more...
 

Due diligence for Tata Steel Netherlands biz to complete by December end
 

Tata Steel, the country’s oldest steel producer, in talks with SSAB Sweden for selling its Netherlands business, expects due diligence to complete by the end of December, paving the way for a sizeable reduction in its debt. “Our current proposal is to fully exit the business and we plan to use the proceeds for deleveraging the balance sheet. Read more...