Top headlines: LIC to list tomorrow; Biological E slashes Corbevax prices

Business Standard brings you the top headlines on Monday

Biological E slashes Corbevax prices by 70% to Rs 250 a dose for pvt mkt

Biological E Limited (BE) has reduced the price of its Covid-19 vaccine Corbevax by 70 percent to Rs 250 per dose inclusive of taxes for the private market. Now, the end user would need to pay Rs 400 per dose including the administration charge to get the shot at a private vaccination center.

The company said that it has lowered the price of the vaccine to make it more affordable and help increase the reach to protect maximum number of children against the virus. Read more

Weak global cues to hammer LIC listing? Here's what grey market signals

The declining risk appetite of investors amid rising rates and inflation continue to play spoilsport across markets. With persistent bears hammering, the prospects of a decent listing of Life India Insurance (LIC) has diminished, as per trends in the grey market.

Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17. Read more

PM Modi signs 6 MoUs with his Nepalese counterpart Deuba in Lumbini

Prime Minister Narendra Modi on Monday held bilateral talks with his Nepalese counterpart Sher Bahadur Deuba in Lumbini - the birthplace of Gautam Buddha - during which they discussed ways to strengthen ongoing cooperation and develop new areas in the multifaceted bilateral partnership. .

After their talks, the two sides signed six Memorandum of Understandings (MoUs) on cooperation in cultural and educational sectors. Read more

Inflation will take time to moderate even after rate hikes: SBI Research

Amidst the continued rise in inflation, it is now almost certain that the Reserve Bank of India (RBI) will raise key policy rates in the June and August policy review meetings, thereby taking it to the pre-pandemic level of 5.15 per cent by August 2022, said SBI Research in a report, adding that even after the rate hikes, inflation will take time to moderate in India. Read more

Global wheat prices soar in risk to food inflation as India restricts exports

Wheat jumped by the exchange limit to near a record high after India’s move to restrict exports, exposing just how tight global supplies are during the war in Ukraine and threatening to drive up food prices even more.

The government will suspend overseas sales to manage its food security, according to a notification dated May 13. This drew criticism from the agriculture ministers of the Group of Seven nations, who said that such measures make the world’s crisis worse. Read more.