Top headlines: Lancet reviews Covaxin, China's Xi Jinping extends power

Nykaa pays Rs 148 crore to investment bankers for managing its listing. More on that in our morning wrap.

Tata Steel has reported a consolidated net profit of Rs 11,918 crore in the September quarter, up nearly eight-fold from the same period last year. More in that story in our morning wrap.

Covaxin 77.8% effective against Covid in Lancet study

Covaxin, a vaccine developed by India’s government medical research agency and Bharat Biotech International Ltd., was found to have a 77.8 per cent efficacy rate against symptomatic Covid-19, said The Lancet in a mixed review.

Nykaa pays Rs 148 cr to investment bankers for handling IPO

Nykaa, the online beauty start-up, has issued the fattest pay cheque to the managers of its share sale: Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO.

India sets 2025 deadline for new vehicles to be E20-compliant

India aims to sell only petrol blended to an extent of 20 per cent with ethanol (E20) from 2025-26. According to officials, all new vehicles sold in the country will need to be E20-compliant from 2025. 

Tata Steel beats TCS in net profit

Tata Steel has reported a consolidated net profit of Rs 11,918 crore in the September quarter, up nearly eight-fold or 661 per cent from the same period last year. The company overtook Tata Consultancy Services (TCS) to become the most profitable company in the Tata Group, riding on a surge in its margins and net profit in Q2FY22.

Chinese leaders issue official history to elevate Xi

Leaders of China's ruling Communist Party on Thursday set the stage for President Xi Jinping to extend his rule next year, praising his role in the country's rise as an economic and strategic power and approving a political history that gives him status alongside the most important party figures, the AP reported.