Top headlines: Canara Bank to raise Rs 9,000 cr; M&M posts profit in Q4

Nadda accuses Mamata Banerjee of 'murder' of constitutional ethos, Covaxin manufacturing to vaccination takes 4 months, says Bharat Biotech, and other top news of the day

Canara Bank to raise capital amounting up to Rs 9,000 crore in 2021-22

The Board of Directors of Canara Bank on Friday approved the bank's capital raising plan for 2021-22 amounting up to Rs 9,000 crore by way of equity and debt instruments. At a meeting, the Board gave its nod to raise equity share capital amounting up to Rs 2,500 crore (including premium) by way of Qualified Institutional Placement (QIP) during the financial year out of the Rs 9,000 crore, the bank said in a statement. Read here

M&M Q4 standalone PAT at Rs 163 crore

Home-grown auto major Mahindra & Mahindra on Friday reported a standalone profit-after-tax (PAT) of Rs 163 crore for the fourth quarter ended March 31, 2021, on the back of robust sales of passenger vehicles and tractors. The Mumbai-based company, along with its subsidiary in the automotive sector Mahindra Vehicular Manufacturers Ltd, had reported a net loss of Rs 3,255 crore for the January-March quarter of 2019-20 fiscal. Read here

Nadda accuses Mamata Banerjee of 'murder' of constitutional ethos

Hitting out at West Bengal Chief Minister Mamata Banerjee for skipping a meeting with Prime Minister Narendra Modi in the state on Cyclone Yaas, BJP president J P Nadda on Friday accused her of "murder of constitutional ethos and the culture of cooperative federalism". Nadda said Modi holds the principle of cooperative federalism "very sacred" and has been actively working with all chief ministers irrespective of their party affiliation to give relief to people but unsurprisingly, he added, Banerjee's tactics and petty politics have once again come to haunt the people of Bengal. Read here

Covaxin manufacturing to vaccination takes 4 months, says Bharat Biotech

Manufacturing to supply of Covid-19 vaccine Covaxin involves four months of lag time depending on technology and regulatory approvals, Bharat Biotech said on Friday. "The timeline for manufacturing, testing and release for a batch of Covaxinis approximately 120 days, depending on the technology framework and regulatory guidelines to be met. Read here