Top headlines: WHO clears Covaxin; Cairn cements end of tax dispute

Business Standard brings you the top headlines on Wednesday

SBI's Q2 net profit surges 67% YoY to record Rs 7,627 crore

Country’s largest lender State Bank of India (SBI) on Wednesday reported a 67 per cent year-on-year (YoY) jump in net profit at Rs 7,627 crore in the July-September quarter (Q2FY22), aided by lower provisions. This is the highest ever quarterly net profit for the bank.

Net profit for the quarter beat street expectations as analysts had estimated a profit of Rs 7,450 crore. In the year-ago period, the bank had posted a net profit of Rs 4,574 crore. Read more

Tax dispute: Cairn gives undertakings to withdraw all cases against India

Cairn Energy Plc on Wednesday said it has entered into undertakings with India that it is withdrawing all cases against it to settle a tax dispute under new rules to junk retrospective taxation. This would allow the company to get a refund of around Rs 7,900 crore, which will be used by it to give special dividend to shareholders and offer a share buyback programme. Read more

WHO grants much-awaited emergency use listing to Bharat Biotech's Covaxin

Bharat Biotech’s Covaxin has obtained the much anticipated and much awaited Emergency Use Listing (EUL) from the World Health Organisation (WHO) in a development that comes as a relief for students, medical tourists, business travelers and people who have international travel plans.

The WHO granted an EUL to Covaxin on November 3, after a risk-benefit assessment for global use of the company's Covaxin vaccine. Read more

PM Modi pitches for door-to-door Covid vaccination, focus on second dose

Prime Minister Narendra Modi on Wednesday said the vaccination drive against Covid-19 needs a 'Har Ghar Dastak' approach to achieve its target.

"So far you have been working to take people to vaccination centres, now it is time to reach every house for door-to-door vaccine. You can take help of local religious leaders to spread awareness about Covid vaccines and to fight rumours," PM Modi told District Magistrates of low vaccination coverage districts during a review meeting. Read more