Tag: COVID-19

Centre not mulling lockdown, states to decide on curfew, curbs amid rising COVID-19 cases, say sources

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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With the daily rise in COVID-19 cases in India, a top government official on Friday told CNBC-TV18 that there are no plans to impose lockdown but states will have the power to restrict the spread of the virus by way of curfew and curbs. He added that right now the priority of the government is to maximise testing and vaccination across India.

Sources told CNBC-TV18 that a detailed plan on oxygen availability and transportation has been prepared by the Ministry of Health. There are some concerns on transportation but the Centre is in touch with states and working out exemptions. A senior minister from the BJP is personally reviewing the movement and availability of oxygen for COVID-19 affected states.

“The oxygen situation is under control. We have not come across any issue on medicine shortage. The empowered group is monitoring the situation and will take up the issue,” said a source.

The other concern that the central government is worried about is from West Bengal, as the state has seen huge rallies on account of the Assembly election.

“Testing has increased in areas where elections have ended and the number of cases has risen,” said a source on the condition of anonymity.

Another cause of worry is that security forces may also become carriers of the virus as a huge deployment was done in West Bengal for the election. The government is also worried about the virus spread on account of Kumbh Mela being held in Uttarakhand.

India has seen a record rise of 2.17 lakh cases of COVID-19 today, even as recoveries have seen an increase of more than 1 lakh for the first time.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Volatility to rule equities as pandemic fear looms; Add mix of growth, cyclicals, defensive stocks to portfolio

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian equity market is witnessing heightened volatility amid the resurgence of the second wave of the COVID-19 pandemic. The market has also suffered a correction as the Nifty and Bank Nifty are down 5 percent and 15 percent, from the recent highs, respectively.

To contain the pandemic, several states have announced localized restrictions that are expected to impact near-term economic recovery till cases stabilize.

Meanwhile, vaccinations are gradually beginning to accelerate. As vaccination pick up further with approvals for more vaccines now in place, experts believe the market focus will shift back to growth, cyclical recovery and fundamentals.

While the index has corrected a modest 6 percent from its recent highs, many stocks have undergone a hefty 15-20 percent decline. Experts are of the view that this correction can be used as a buying opportunity.

“We believe this correction is a buying opportunity and it doesn’t change the medium-term thesis of recovery in corporate earnings led by underlying macro pick-up with focus on investment cycle,” Motilal Oswal said in a report.

Motilal Oswal recommends buying in the market amid this correction and advocates adding a balanced mix of growth, cyclicals and defensive names.

The brokerage continues to be Overweight on the BFSI, IT, Metals, Cement & Capital Goods, It remains Neutral on Consumer, Auto and Pharma sectors while staying Underweight on Energy, Utility and Infrastructure.

“Valuations at 20x FY22 Nifty EPS, while not mouth-watering, are not exorbitantly expensive either given the benign equity-bond yields metric and turn in earnings cycle after a decade-long tepid earnings delivery,” the brokerage firm said.

After two consecutive quarters of solid earnings beats and upgrades, the March quarter earnings are also expected to be strong, aided by a deflated base of 4QFY20 and healthy demand recovery for the large part of 4QFY21.

Despite headwinds of commodity cost inflation in various sectors, the performance of India Inc, is expected to be healthy.

Also Read: Steel sector set to mine best ever earnings growth in Q4FY21

The key drivers of the 4QFY21 performance include metals – on the back of a strong pricing environment and higher volumes; Private Banks and NBFCs – on moderation in slippages and improved disbursements/collection efficiency.

A continued strong performance is also expected from IT – as deal wins translate into higher revenues; Autos – as operating leverage benefits offset commodity cost pressures; and Consumer Staples and Durables – on strong demand recovery despite commodity price inflation, according to the brokerage.

Also Read: FMCG sector revenue growth to continue in Q4FY21; margins may hit on high commodity prices

Motilal Oswal’s top preferred picks in largecap stocks include ICICI Bank, SBI, UIltraTech Cement, M&M, Hindalco Industries, Titan Company, SBI Cards & Payment Services, Hindustan Unilever, Divi’s Laboratories, Infosys, HCL Technologies.

Its top ideas in mid-caps include Cholamandalam Investment, SAIL, Emami, Gland Pharma, LTTS, IEX, Varun Beverages, Gujarat Gas, Orient Electric, Federal Bank, among others.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Rajnath instructs DRDO to construct 2 COVID hospitals with 600 beds in Lucknow

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Defence Minister Rajnath Singh has instructed the Defence Research and Development Organisation (DRDO) to construct two hospitals, with 250-300 beds each, for COVID-19 patients in Lucknow, sources said on Friday. According to Singh’s instructions, a DRDO team is reaching Lucknow on Friday, they noted.

These hospitals will be constructed on two different places in the city on a mission mode, the sources stated. Each of these two hospitals will have 250-300 beds, they said.

Also Read: WHO chief calls growth in virus cases ”worrying”

Uttar Pradesh had on Thursday reported 104 deaths and 22,439 fresh cases, pushing the fatality count to 9,480 and the total infection number to 7,66,360. Its Chief Minister Yogi Adityanath on Friday ordered the establishment of a 1,000-bed makeshift COVID hospital in Lucknow to tackle the rising number of coronavirus cases.

Follow our LIVE COVID-19 blog for the latest

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

WHO chief calls growth in virus cases ”worrying”

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The head of the World Health Organisation said coronavirus cases are continuing to rise globally at worrying rates and noted that the number of new cases confirmed per week has nearly doubled during the past two months.

At a press briefing on Friday, WHO Director-General Tedros Adhanom Ghebreyesus said the number of new cases is approaching the highest rate of infection that we have seen so far in the pandemic.

Tedros said some countries that had been able to avoid widespread COVID-19 outbreaks are now seeing steep increases, citing Papua New Guinea as an example.

Until the beginning of this year, Papua New Guinea had reported less than 900 cases and nine deaths, Tedros said. The noted. The country has now identified more than 9,000 cases and 83 deaths, half of which were reported in the last month.

Papua New Guinea is a perfect example of why vaccine equity is so important, Tedros said, adding that the Pacific island nation has relied on vaccine donations from Australia and the UN-backed COVAX initiative.

To date, COVAX has shipped about 40 million vaccines to more than 100 countries, or enough to protect about 0.25 percent of the world’s population.

Follow our LIVE COVID-19 blog for the latest

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Third COVID-19 vaccine dose likely needed within a year: Pfizer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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People will likely need a third booster dose of a COVID-19 vaccine within 12 months of being fully vaccinated, Pfizer CEO Albert Bourla said on Thursday. The pharma giant is one the major manufacturers of the coronavirus vaccine.

In a televised interview with CNBC, Bourla also said that annual revaccination against COVID-19 could be a possibility.

“A likely scenario is that there will be likely a need for a third dose, somewhere between six and 12 months and then from there, there will be an annual revaccination, but all of that needs to be confirmed. And again, the variants will play a key role,” Bourla.

Other experts have expressed similar sentiments as the role of new variants in the spread of the disease becomes more apparent. There are currently three significant variants and numerous more minor variants of the Novel Coronavirus in the world. The three significant variants are B.1.1.7 (the UK Variant), B.1.351 (the South Africa Variant), and P.1 (the Brazil Variant).

Pfizer’s vaccine remains one of the most effective against the coronavirus. According to the pharmaceutical giant, its vaccine is more than 91 percent effective and more than 95 percent effective up to 6 months after completing both doses of the vaccine. Pfizer’s vaccine for teens is also 100 percent effective in protecting younger teens against the virus.

Moderna’s vaccine, which is also an mRNA vaccine, is similarly effective against the virus.

However, there is not enough data to conclusively say whether the protection lasts for more than six months.

Pfizer and BioNTech are currently conducting further trials to see the result of a third vaccine dose on long-term immunity and protection, especially from the new variants emerging in various parts of the world.

Follow our live blog for more updates

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US CDC reports 5,800 Covid infections in fully vaccinated people

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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About 5,800 people who have been administered Covid-19 vaccines in America have been infected by the virus, the US Centers for Disease Control and Prevention (CDC) said. So far, about 5,800 “breakthrough” cases have been reported to the CDC, Xinhua news agency quoted the agency as saying on Thursday.

Vaccine breakthrough infections make up a small percentage of people who are fully vaccinated, less than 1 percent, according to the CDC.

Among the 5,800 “breakthrough” cases, some became seriously ill and 74 people died, it said.

Meanwhile, 396 cases, 7 percent of those who got infected after they were vaccinated, required hospitalisation.

The health agency called on all eligible people to get a Covid-19 vaccine as soon as possible and urged fully vaccinated individuals to keep up precautions, such as wearing masks and social distancing, to avoid contracting the disease.

Follow our LIVE COVID-19 blog for the latest

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Expect new vaccine supply in next 4-6 weeks, says ICMR’s Dr Samiran Panda

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Dr Samiran Panda, head of the epidemiology & communicable diseases division at the Indian Council of Medical Research (ICMR), on Friday said that new vaccines are expected to come through in the next 4-6 weeks.

“I do not have a clear date about it (the new vaccines) coming to India, but I would expect that to happen in the next 4-6 weeks the way things are going forward. I am not saying that vaccines that have been tested in other countries, we are looking forward to that. The most encouraging fact is about Bharat Biotech who has not only ramped up its own production but also are pairing up with Haffkine and both the moves together will help us to have an adequate supply of vaccines to be given to the prioritised groups,” he said.

India continues to witness a spike in the COVID-19 cases as the country battles a fierce second wave of the virus. India has recorded over 2.17 lakh new cases and over 1100 deaths in the last 24 hours. In terms of recovery, it is over 1 lakh cases, a record high.

Dr Panda has stressed the need for consistent use of masks. “It is not just the usage of mask but the correct and consistent use of facemask will stop further transmission. Yes, we know that there is a possibility, things have spread in Kumbh Mela and through the election campaign but that’s not inevitable that this will now be followed by a further spread in other areas. The possibility exists but it should not be thought of as something inevitable.”

He also mentioned that mass gatherings provide an opportunity for the virus to spread. “The virus has not changed its strategy in terms of transmission. So whenever there will be a mass gathering – be it Kumbh or election campaign – provides an environment and opportunity for the virus to move from a person infected to those who are susceptible and also not that all the individual infected will be symptomatic. Therefore, for those who are infected but yet not have symptoms, from them the chance of spread is much more,” said Dr Panda.

Talking about the double mutant variant, he said, “The proportion detected in Maharashtra among the samples which were tested are higher compared to the double mutant which has been identified in other states among positive samples. India is not the only country where the double mutant has been identified. Mutations of the virus occur everywhere.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Expect digital transformation cycle to continue over the next 2 years: Infosys’ Salil Parekh

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IT major Infosys has had an incredible 3-year transformation journey and is well-positioned for FY22, said Salil Parekh, CEO of Infosys in an interview with CNBC. According to Parekh, the digital transformation cycle will continue over the next 12-24 months and he expects robust growth going forward.

“With the capability that we have built-in digital and the investment focus that many of our large enterprise clients have, we see that this trend is looking to continue at least for the next 12-24 months if not longer,” Parekh explained.

He added that most of the large clients are focused on cloud computing and that is becoming a primary driver of large transformation programs.

“The large clients, enterprises that we are working with are primarily focused on the cloud transition. Large enterprises have taken learnings from the past 12 months that the more digital they are, the better they are able to grow and service their customers and employee base. With that in mind tech spending which was focused on digital, is not just a cost element for them, it is also an investment in their future – both for them to thrive and survive,” Parekh noted.

On the rising COVID cases in India, he said that Infosys has gone back to a full work-from-home environment. He also said that they have started a vaccine program within campuses for employees and their family members.

Watch video for more.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow