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Biz EOD: Are Sensex, Nifty overvalued; Moderna COVID vaccine 94.1% effective; signs of recovery in Indian economy

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | December 1, 2020 | Updated 01:10 IST
Biz EOD: Are Sensex, Nifty overvalued; Moderna COVID vaccine 94.1% effective; signs of recovery in Indian economy
Top stories from the world of business and economy

The stock market is not reflecting the true picture of how businesses are doing. Moderna has claimed that its COVID-19 vaccine candidate was 100 per cent effective against severe COVID-19 cases, while it was 94.1 per cent effective in a full efficacy analysis. While the Indian economy has bounced back strongly in the September 2020 quarter from its June 2020 quarter slump, the road ahead is challenging. Read for more top stories from the world of business and economy:

1. BT Insight: Are Sensex, Nifty overvalued? Here's what metrics show

The GDP growth fell to 7.5 per cent in the July-September quarter compared to a contraction of 23.9 per cent in the April-June quarter.

2. Don't let banks offer cashback on e-commerce platforms: CAIT tells FM

CAIT complained against alleged collusion of banks with big e-commerce firms, such as Flipkart, Amazon, Snapdeal, in granting cashback and incentives. It said this was against the RBI's Fair Practices Code.

3. Moderna reports 94.1% efficacy in COVID-19 vaccine; 100% in severe cases

Primary efficacy analysis of the Phase 3 COVE study of Moderna' COVID-19 vaccine involved 30,000 participants included 196 cases of COVID-19, of which 30 cases were severe.

4. CMIE sees signs of recovery in Indian economy; says 'challenging road ahead'

India's real GDP regained Rs 6.2 lakh crore of GDP it lost amid the lockdown to Rs 33.1 lakh crore in September quarter.

5. RIL-BP set to start gas production from R-Series; invest Rs 40,000 crore

Gas production from R-Series has been delayed by six months because of COVID-19 pandemic and related disruptions in supply chain. Production from Satellite and MJ fields are expected in next financial year.

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