The agencies believe that since Airtel is not required to make lumpsum AGR payment to Department of Telecommunications, the telco can use some of its recently-raised funds to deleverage
Delhi Metro resumed its full services on Saturday with the Airport Express Line reopening after a hiatus of over 170 days due to the COVID-19 pandemic; Drug Controller General of India (DCGI) Dr VG Somani has ordered Serum Institute of India (SII) to suspend any new recruitment in Phase 2 and 3 clinical trials for the Oxford-AstraZeneca coronavirus vaccine candidate till further notice; Millions of coronavirus cases may have gone undetected in India earlier this year, a research paper estimates. Watch this and more on News Blast.
Unlock 4.0: Delhi metro to follow pre-COVID schedule, Airport Line reopens
Delhi Metro resumed its full services on Saturday with the Airport Express Line reopening after a hiatus of over 170 days due to the COVID-19 pandemic. All corridors of the Metro network are now in operation and the timing of services will follow the pre-COVID-19 schedule of 6 AM to 11 PM.
DCGI orders Serum Institute to suspend recruitment in Oxford COVID-19 vaccine clinical trials
Drug Controller General of India (DCGI) Dr VG Somani has ordered Serum Institute of India (SII) to suspend any new recruitment in Phase 2 and 3 clinical trials for the Oxford-AstraZeneca coronavirus vaccine candidate till further notice. The direction comes close on the heels of SII's answer to a show-cause notice by the drug regulator asking why the clinical trials for the COVID-19 vaccine in question were not stopped even after patient safety concerns surfaced.
SEBI hikes minimum investment corpus in equities to 75% for multicap funds
In a bid to diversify the underlying investments of multicap funds across the large, mid and small cap companies, Securities and Exchange Board of India (SEBI) on Friday modified asset allocation framework for such mutual funds. The market regulator has asked multicap funds to have a minimum equity investment of 75 per cent as against the current mandate of 65 per cent.
Moody's expects India's GDP to contract 11.5% in FY21
Moody's Investors Service has joined the league of global rating agencies that have forecasted a double-digit contraction in India's gross domestic product (GDP) growth for the current financial year 2020-21 (FY21) due to the coronavirus-led lockdown disrupting economic activities. Moody's on Friday lowered India's growth estimates for the current fiscal to (-) 11.5 per cent, from (-) 4 per cent estimated earlier.
Millions of COVID-19 cases went undetected in India, research paper estimates
Millions of coronavirus cases may have gone undetected in India earlier this year, a research paper estimates, saying that for every confirmed case in May, there were 82 to 130 infections that were not recorded. The paper, published in the Indian Journal of Medical Research, estimated that the country had nearly 6.5 million cases as early as May.
Mistrys to raise Rs 11,000 crore pledging Tata Sons stake; Tatas object in SC
The business of Shapoorji Pallonji (SP) family is in dire crisis and their group is in talks to raise Rs 11,000 crore by pledging nearly 2 per cent of their stake in Tata Sons, the holding company of Tata group companies. SP Group has signed definitive documents with Brookfield to raise Rs 3,750 crore.
Moody's said SBI's ratings could be downgraded if India's sovereign rating is downgraded, reflecting the high interlinkages between the banks' credit profile and that of the government
According to Moody's, Indian economy will contract sharply in fiscal year ending March 2021 (fiscal 2020) before returning to growth, though modestly, in fiscal 2021
Rating agencies sharply revise GDP growth rate for FY21
Moody's cut its ratings on the UK-based engine-maker's bonds by two notches to Ba2 from Baa3, meaning its bonds are now regarded as non-investment grade, and also gave the company as a whole a Ba2 rating with a negative outlook
Earlier this week, Moody's downgraded India's sovereign rating to the lowest investment grade citing weak government financials, sustained slowdown, and poor executin of economic reforms
Coronavirus impact: Moody's said that the risks to the financial system are rising. It pointed out that some sectors were under strain even before the coronavirus pandemic began
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