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Job cuts, salary adjustments in COVID-19 aftermath not as widespread as expected: Report
“Despite the severe impact on revenue and cash, very surprisingly, the display of compassion and community outreach have produced a spontaneous level of commitment and loyalty from employees and job cuts and salary adjustments have not been as widespread an occurrence as originally apprehended,” said the report.
4 of 5 cyclones this year were in severe cyclonic storms category and above
India Meteorological Department (IMD) Director General Mrutunjay Mohapatra said since 1990 four cyclones have formed every year in the seas along the eastern and western coasts (Bay of Bengal and Arabian Sea) of the country.
“It is normal to have five cyclones a year,” he said.
Value Of LIC’s equity holdings rallies 40% in h1 to Rs 5.7 lakh crore
As against this, domestic institutional investors’ holdings in the BSE-200 Index slipped to 13.6 percent in Q2 from 14 percent in Q1, as they sold shares worth Rs 63,500 crore since April. As of July-September, the value of LIC’s holdings in top 200 stocks stood at $77 billion.
During the first half of FY2021, value of LIC’s holding surged over 40 percent, or by $22 billion to $77 billion and LIC is said to have pumped Rs 55,000 crore into the equity market since April, as against Rs 32,800 crore in the year-ago period.
Approval from IRDAI on Axis Bank stake hike expected by March: Max Life CEO
“Under the revised agreements, Axis Bank will acquire up to 9.002 percent of the equity share capital of Max Life, and Axis Capital Limited and Axis Securities Limited will together acquire up to 3 percent of the share capital of Max Life.
“In addition, Axis entities will have a right to acquire an additional stake of up to 7 percent of the equity share capital of Max Life, in one or more tranches, in accordance with existing laws and regulations,” the bank had said.
India should begin scaling up syringe stocks for Covid vaccination: Experts
According to Rajiv Nath, Managing Director of Hindustan Syringes & Medical Devices Ltd, the estimated demand in India would be around 900 million pieces of different kinds of syringes for just one shot of the vaccine, considering 60-70 per cent of the country gets vaccinated.
“The number would amplify to 1.8 billion if the vaccine India chooses needs two shots,” Nath told IANS.
India’s Serum Institute seeks emergency use nod for AstraZeneca’s COVID-19 vaccine
The move comes close on the heels of Pfizer Inc applying for a similar authorization of its coronavirus vaccine in India on Saturday.
COVID-19: 36,652 new cases take India’s virus tally to 96,08,211
The COVID-19 case fatality rate was recorded at 1.45 per cent
There are 4,09,689 active cases of coronavirus infection in the country which comprises 4.26 per cent of the total caseload, the data stated
US, Norwegian investors pressure SBI over loan to Adani mine in Australia
BlackRock, which holds shares of both Adani and SBI, has met with the companies tied to the Carmichael project and raised its objections because the plan has ESG-related risks, according to a person familiar with the matter, who declined to be identified because the conversations are private. In February, BlackRock rebuked Siemens AG for similar reasons when it signed an 18 million-euro ($21.8 million) contract to provide rail-signaling systems for the mine.
Bharat Biotech says COVAXIN efficacious, safe, as Anil Vij tests positive for Covid-19
The drug firm said its vaccine Covaxin is based on two dose schedule and its efficacy is determined 14 days post the second dosage. “COVAXIN clinical trials are based on a 2-dose schedule, given 28 days apart. The vaccine efficacy will be determined 14 days post the second dose,” Bharat Biotech said in a statement.
COVID-19 caseload surges to 95.71 lakh; recoveries cross 90 lakh
The number of people who have recuperated from the disease surged to 90,16,289 pushing the national recovery rate to 94.20 per cent, while the COVID-19 case fatality rate stands at 1.45 per cent.
The active COVID-19 caseload continued to remain below 5 lakh.There are 4,16,082 active coronavirus infections in the country which comprises 4.35 per cent of the total caseload, the data stated.