Biz EOD: Are Sensex, Nifty overvalued; Moderna COVID vaccine 94.1% effective; signs of recovery in Indian economy
BusinessToday.In December 1, 2020
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:
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.
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.
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.
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.
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.