In a significant development for the performance-linked incentive (PLI) scheme, Anil Agarwal-led Vedanta and Hon Hai Technology Group (also known as Foxconn) have formed a joint venture (JV) to manufacture semiconductors in India. This is the first JV in the electronics manufacturing space after the PLI policy, a joint statement issued by the companies said.

In December 2021, the Centre had cleared a PLI scheme for semiconductor and display board production in the country targeting an investment of Rs 76,000 crore over the next five to six years.

Biological E has sought emergency use authorisation from India's drug regulator for its COVID-19 vaccine Corbevax for the 12 to 18 years age group, official sources said on Sunday.

The Drugs Controller General Of India (DCGI) has already approved Corbevax, which is India's first indigenously developed RBD protein sub-unit vaccine against COVID-19, for restricted use in emergency situation among adults on December 28.

Equity markets pulled back last Friday as hotter-than-expected US inflation print lifted bond yields to 2.05% in the US, a level last seen in August 2019.

The spike came after US inflation stood at 7.5% in January, marking the highest year-on-year rise in consumer prices since 1982.

Ten gram of 24-carat gold is selling at Rs 51,060 on Monday, increasing by Rs 10 since the last trade as demand spurs for the safe-haven bullion.

Gold of 22 carat is selling at Rs 46,810 after increasing by Rs 10 since Sunday, according to the Goodreturns website. One kg of silver is selling at Rs 63,000, remaining unchanged.

Voting will be held on Monday in all assembly seats in Goa and Uttarakhand, besides 55 constituencies Uttar Pradesh in the second phase of the state polls, with chief ministers Pramod Sawant and Pushkar Singh Dhami, former CM Harish Rawat and jailed Samajwadi Party leader Azam Khan among the prominent leaders in the fray.

It is a high-stakes election for the ruling BJP and a litmus test for the Modi government's policies that the Congress, AAP and other opposition parties have targeted during their campaign.

Asian shares slipped on Monday as warnings Russia could invade Ukraine at any time sent oil prices to seven-year peaks, boosted bonds and belted the euro.

The United States on Sunday said Russia might create a surprise pretext for an attack, as it reaffirmed a pledge to defend every inch of NATO territory.

Sitting on a huge cash pile, Godrej Properties plans to invest around Rs 7,500 crore over the next 12-18 months on acquisition and development of new real estate projects.

In an interview with PTI, Godrej Executive Chairman Pirojsha Godrej sounded upbeat on the growth potential in the housing and commercial real estate segments especially in four major markets -- Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune -- where the company has a huge presence.

Realty firm Ramky Estates & Farms Ltd has tied up with Genpact to develop a 14-acre project in Hyderabad. Property consultant JLL India said in a statement that it facilitated the deal.

Genpact and Ramky Estates & Farms Limited (REFL) will develop 14.37 acres of land situated at Uppal, Hyderabad. The land parcel owned by IT major Genpact is situated next to their campus in Uppal. Hyderabad-based REFL will develop Grade A offices for Genpact.

IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT).

While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives.

The government will sell 5 per cent of its stake in Life Insurance Corporation (LIC), through an initial public offering (IPO), of which 100 per cent is offer for sale. LIC filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) on Sunday, thus setting the wheels in motion for the country’s largest-ever IPO.

The market regulator, according to sources, is expected to give its nod for the LIC IPO in three weeks. The Union government has often reiterated that the public issue of LIC will happen within the current financial year (FY22).

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