Top headlines: Jio applies for 5G spectrum; Indigo to raise Rs 3,000 cr

From IndiGo looking to raise capital to the ongoing border dispute with China, here are top headlines this morning.

Riding the 5G wave: Jio takes big leap, applies to DoT for spectrum

Just two days after its announcement of an indigenously developed 5G network, Reliance Jio has taken another significant step by approaching the Department of Telecommunications (DoT) for assigning 800 megahertz (MHz) spectrum each in both the millimetre (26 gigahertz, or GHz, and 24 GHz) wave (mmWave) bands as well as 100 MHz in the 3.5 GHz band for field trials of its new network in a few metros. Read More

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Glenmark under fire for over pricing, 'misguided' claims of Covid-19 drug

Glenmark, which markets favipiravir under brand Fabiflu for treatment of mild-to-moderate Covid-19 patients, has come under the scanner of ‘the country’s drug regulator over pricing of the drug and claims of its therapeutic efficacy. The Drug Controller General of India (DCGI) has sent a letter to the Mumbai-based drugmaker seeking clarifications on pricing as well as claims of therapeutic efficacy. Read More
 

Covid-19 crisis: IndiGo looks to raise Rs 3,000 cr, secure long-term future

India’s largest airline IndiGo is in talks to raise fresh funds while travel demand has collapsed during the pandemic, according to people with knowledge of the matter. The company, with more than a 52 per cent share of the domestic market, is looking to raise around Rs 3,000 crore to augment long-term future and strengthen its balance sheet. In its discussion with banks, the airline is exploring the possible route of fundraising. Read More

Border dispute: China has 200,000 troops at LAC in conflict-ready mode

With China’s People’s Liberation Army (PLA) intruders still occupying Indian territory and large PLA reinforcements ready on the Chinese side of the Line of Actual Control (LAC), Indian military planners are calculating: How many more soldiers can the PLA quickly field if fighting were to break out? Read More

Data surge, 4G transition lift telecom firms out of Covid-19 blues

Unlike most other sectors, telecom services has seen a lower impact from the coronavirus (Covid-19) pandemic and is also among the early ones to recover. A surge in data consumption and a rebound in new subscriber base are the major gains for the sector. Read More

Lifeline for MFs: PMO suggests steps for resolution of stressed assets

The Prime Minister’s Office (PMO) has suggested regulatory steps and liquidity to help mutual funds (MFs) that have exposure to stressed companies. These include setting up a Covid-19 Support Fund for closed-ended debt schemes. Such schemes do not permit entry and exit for investors till the end of tenure. Read More

Galwan Valley face-off: Indian tech firms shun China, switch to US camp

Strained ties with China, in the wake of the Galwan Valley face-off, are driving Indian tech start-ups to look to the US for investments and partnerships. Opposed to a recent trend where Chinese investors were making serious inroads into the Indian technology ecosystem, Indian companies are attracting a series of blockbuster investments from US tech giants such as Google and Facebook as well as large companies and private equity firms, say industry insiders and analysts. Read More

Mahindra resets its playbook for international business ventures

International revenues for most of the Mahindra group’s business ventures in the past five years either grew or dwindled marginally, save for M&M, the flagship business, whose missteps shrank its turnover to Rs 33,000 crore, down by Rs 4,000 crore from the financial year 2019, thereby dragging down group profits. Read More

India is likely to see a wave of peaks in Covid-19 cases, say experts

India is likely to see a wave of peaks in Covid-19 cases across the country instead of one single high, with the coronavirus spreading at a different pace in most states, experts said. While most epidemiologists have predicted a peak of infection in late July-August, many feel the concept of a national peak is nebulous. The three states — Maharashtra, Delhi, and Tamil Nadu — with highest case-counts are slowing down, but infections in eastern and southern states are surging. Read More

Pedalling into a post-Covid future: How bicycle fever has gripped India

Bicycle, bicycle, bicycle I want to ride my bicycle, bicycle, bicycle... Freddie Mercury of the British rock band Queen penned the song Bicycle Race in 1978 inspired by Tour de France, the famed multiple stage bicycling race. But 42 years later, the Covid-19 pandemic has pushed everyone into singing the same tune. Read More