Chief Executive Officer of Pune based Serum Institute of India Adar Poonawalla on Wednesday clarified that the COVID-19 vaccine Covovax is available for everyone above the age of 12 years.

"A lot of you have asked if Covovax is available for adults. The answer is yes, it is available for everyone above the age of 12," Poonawalla tweeted.

Retail wealth management firm Prudent Corporate Advisory Services on Thursday set a price band of Rs 595-630 per share for its Rs 539-crore initial public offering (IPO).

The three-day initial share-sale will open for public subscription on May 10 and the bidding for anchor investors will open on May 9, according to the company.

Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO), which opened for subscription on Wednesday, was subscribed 67 per cent, or 0.67 times, at the end of Day 1, driven by robust interest from its policyholders, employees, and the retail segment. The issue will remain open till May 9.

The policyholders’ segment was subscribed close to two times, the employees’ segment 1.17 times, and the retail segment 0.6 times. The non-institutional investors and qualified institutional buyers’ segments were subscribed 0.27 times and 0.33 times, respectively, on the first day.

In a major setback to the Enforcement Directorate (ED), the Bombay High Court on Wednesday quashed a magisterial court order and an FIR lodged against Indiabulls Housing Finance Limited (IHFL) and its promoters on the basis of which ED was probing a case under the Prevention of Money Laundering Act (PMLA).

Earlier in February, the ED had conducted raids in Delhi and Mumbai at the premises of Indiabulls and its promoters. The ED had also written to the National Stock Exchange (NSE) in this connection.

ABB India on Wednesday posted over two-fold jump in its net profit to Rs 370 crore in the March quarter compared to the year-ago period mainly on the back of higher revenues.

The net profit of the company was Rs 151 crore in the quarter ended on March 31, 2021, a company statement said.

The company follows January to December financial year.

Pfizer has set up a global drug development centre at the IIT Madras Research Park in Chennai.

The company has invested $20 million in the 61,000 square feet research and technology centre at the IIT Madras Research Park. While this centre will be part of a network of 12 global centres set up worldwide, it is the first and only one at present being set up by Pfizer in Asia.

Adani Green Energy Ltd (AGEL) on Wednesday posted over 16 per cent rise in its consolidated net profit to Rs 121 crore in the March quarter compared to year ago, mainly on the back of higher revenues.

The consolidated net profit of the company was Rs 104 crore in the quarter ended on March 31, 2021, a statement showed.

India reported 3,205 new coronavirus infections in a day, pushing the number of active cases to 19,509 and the overall tally to 4,30,88,118, according to the Union Health Ministry data updated Wednesday.

The data released at 8 am also showed that 31 fatalities were reported in a 24-hour span, taking the overall death toll to 5,23,920.

The rupee appreciated 8 paise to 76.40 against the US dollar in opening trade on Wednesday in anticipation of foreign fund inflows through LIC IPO.

At the interbank foreign exchange, the rupee opened at 76.46 against the American dollar, then gained further ground to quote at 76.40, registering a rise of 8 paise from the last close.

On Monday, the rupee had settled at 76.48 against the US dollar.

Paramount+, the global streaming service from Paramount Global, will launch in India in 2023 in partnership with Viacom18, as part of a recently announced agreement.

Bob Bakish, President & CEO, Paramount, outlined the company's global plans for the streaming service during its first quarter Earnings Report announcement on Tuesday.

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