Top headlines: Sensex closes in on 50,000; 1st batch of Covishield released

From Sensex closing in on 50,000 milestone to banks' gross NPAs likely to rise to 13.5% by Sept, here are top headlines this morning

Sensex closes in on 50,000 milestone, Nifty ends at 14,484; IT stocks gain

Stocks on Monday cheered the scheduled roll-out of Covid-19 vaccines in the country by the end of this week and the strong start to the quarterly earnings season. The benchmark Sensex crossed the 49,000 mark for the first time, and is now within striking distance of the 50,000 milestone. The Sensex rose 487 points, or 1 per cent, to end the session at 49,269, while the Nifty closed at 14,484, a gain of 137 points, or 0.9 per cent. IT stocks were the top gainers and contributed the most towards the Sensex's gains. Read More

Govt inks pact, first consignment of Covid-19 vaccines to fly today

India has signed the much-awaited first purchase agreement for the government-sponsored Covid vaccination programme with Pune-based Serum Institute of India. Talks were on with Hyderabad-headquartered Bharat Biotech till the time of going to press. The nationwide vaccination drive is starting on January 16. Read More

Banks' gross NPAs may rise to 13.5% by Sept: Financial stability report

The Reserve Bank of India’s (RBI’s) Financial Stability Report (FSR) of December 2020 has stated that banks’ gross non-performing assets (GNPAs) may rise sharply to 13.5 per cent by September 2021, and escalate to 14.8 per cent, nearly double the 7.5 per cent in the same period of 2019-20, under the severe stress scenario. Read More

Supreme Court for putting on hold new farm laws; verdict likely today

The Supreme Court on Monday sought to put on hold the implementation of the three controversial farm Acts to let a high-powered committee deliberate on the laws and end the impasse, which was later in the day rejected by the protesting farmers. The farmers, in a late night statement said that they are unwilling to participate in any committee formed by the Supreme Court on the laws as the Central government has already made it clear that it won't repeal the laws which is the main and prime demand of the protestors. Read More

Pfizer compiling data to answer DCGI queries on coronavirus vaccine

After a three-time no-show before the expert panel on vaccines in India, US major Pfizer, which was one of the first firms to apply for a restricted emergency use approval here, says it is compiling responses to queries raised by the Indian regulator. The company spokesperson clarified that the firm is committed to engaging with the Government of India. A Pfizer spokesperson elaborated: “Pfizer sought an opportunity to participate in the Subject Expert Committee (SEC) consultations towards an emergency use authorisation for our Covid-19 vaccine. Read More

Advertising volumes grow 10% in 2020, Dettol steals show: BARC data

Calendar year 2020 was disrupted by the Covid-19 pandemic and the subsequent lockdown. Yet, a look at the full-year advertising volume numbers shared by the Broadcast Audience Research Council of India (BARC) shows that top advertisers increased their visibility significantly during the period. Growth in ad volumes for 2020 was up 10 per cent from a year ago, with the recovery being sharp in the second half of the year when the Unlock phase began. Read More

Passenger vehicle retail sales rise 24% to 271,249 units in Dec: FADA

Automobile dealers' body FADA on Monday said passenger vehicle (PV) retail sales in December witnessed a year-on-year increase of 23.99 per cent to 2,71,249 units on the back of the pent up demand continuing from the festive season. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,270 out of the 1,477 regional transport offices (RTOs), PV sales stood at 2,18,775 units in December 2019. Read More

After Airtel and Voda, Tata Tele moves SC seeking AGR dues recalculation

Tata Teleservices on Monday filed a petition with the Supreme Court stating that there were “mathematical errors” in the calculations of the Department of Telecommunications as far as the adjusted gross revenue (AGR) dues were concerned. This development comes close on the heels of Bharti Airtel and Vodafone Idea petitioning the apex court over the same issues. Read More