RIL shares gained momentum on Thursday after American private equity firm Silver Lake announced it would invest in Reliance Retail. Serum Institute of India has paused clincal trials for Oxford-AstraZeneca coronavirus vaccine after a scathing show-cause notice from Drug Controller General of India (DCGI). Supreme Court on Thursday, said that it will resume hearing on petitions seeking an interest waiver during the loan moratorium period on September 28.
Read for more top stories from the world of business and economy:
The market cap of RIL rose to Rs 14.70 lakh crore, while the market value of its partly paid rights shares increased to Rs 58,800 crore, resulting in a combined market capitalisation of Rs 15.28 lakh crore.
The equity market has been a roller coaster ride. Most investors are likely to have found it too adventurous. They would have looked to exit the market at the first opportunity.
Following a scathing show-cause notice from DCGI, the Serum Institute has paused trials till further instructions from the drug regulator. It was conducting phase 2/3 trials of Covishield across 17 sites in India.
The SC bench, led by Justice Ashok Bhushan, was hearing petitions seeking waiver of accruing interest and extension of the six-month loan moratorium period allowed by the Reserve Bank of India.
AstraZeneca on Wednesday "voluntarily" paused the phase 3 clinical trials after a volunteer developed an "unexplained" illness; in India, Serum Institute, one of the partners of University of Oxford, also decided to pause the trials following the DCGI notice.