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Dec 30 2020 . ISSUE 44

Good morning As we knock on the doors of 2021 with optimism, wishing you a bang on the final market day of the year. 🤩

In investing, what is comfortable is rarely profitable.

– Robert Arnott




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Vedanta Limited wins Radhikapur West Coal Block. The mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes.

Union Bank gets shareholders nod to raise up to Rs 6,800 Crore. The bank will utilise the raised capital for general business purposes, it said.

Nation Waiting On Drug Authorisation
Documents in a folder with Trump Organization insignia

It looks like India is just days away from authorizing the distribution of a vaccine, and the Covishield, vaccine developed by Serum Institute of India & Astrazeneca-Oxford University, might be the first one to pass make it to the india border. 

Only Days Away

The Drugs Standard Control Organisation of India is said to hold a meeting to decide whether to allow emergency use authorisation to the Covishield vaccine.  

Pfizer-BioNTech, Bharat Biotech and Serum Institute of India had earlier applied to the DCGI for the emergency use vaccine. The makers of vaccines are very optimistic that distribution would be sanctioned and have already taken moves to supply the nation with the number of vaccines it might require. 

Around The World 

The UK have approved the use of the AstraZeneca/Oxford Vaccine and is now planning on paving a way for massive roll out. 

The UK has ordered 100 million doses from the manufacturer AstraZeneca — enough to vaccinate 50 million people.

Bottom line: Here's to hoping we curb the pandemic by early 2021.

Union Cabinet approves multi-modal logistics hub.
walmart shopping

In a bid to make India a strong player in global value chain, the Union Cabinet has sanctioned a multi-modal logistics and transport hub (MMTH). 

Logistics Hub

The hub would be situated in Greater Noida, Uttar Pradesh. Along with the project, the Cabinet has also approved a proposal to set up industrial corridor nodes at Krishnapatnam and Tumakuru under CBIC. The projects are touted to generate employment for more than 2.8 lakh people. 

BottomlineA good initiative by the government. 

Union cabinet approves interest subvention for ethanol distilleries
walmart shopping

Ethanol Distilleries are getting an interest subvention, i.e a grant from the government to increase production.

Busy Day for the Cabinet. 

Following the sanctioning of a logistics hub, the Union Cabinet has also approved an interest subvention of Rs 4,573 crore for new distilleries producing ethanol. 

These ethanol can be used for doping in petrol and given the nation's ambition to reduce its dependency on imports, this subvention will surely help to do so. 

Bottomline: Slowly but steadily towards Atmanirbhar Bharat. 

  • Yes Bank appoints Niranjan Banodkar as new CFO, Adlakha to be new HR head.Banodkar has 17 years of diverse experience in Banking in Risk Management, Capital Markets, Financial Planning and Strategy.
  • Deadline for filing income tax returns by individuals extended to Jan 10. 'Continued challenges' faced by people in the coronavirus pandemic prompts the tax department to extend deadlines.
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