Top headlines: Vaccine cost may be capped at Rs 275; India celebrates R-Day

Business Standard brings you the top headlines on Wednesday

R-Day: Magnificent flypast at parade, celebrations scaled down due to Covid

The grandest flypast with 75 aircraft to mark the 'Azadi ka Amrut Mahotsav' celebrations was the highlight of the 73rd Republic Day Parade on Wednesday where India displayed its military might and vibrant cultural heritage on Rajpath, with the ceremonial event this year being drastically scaled down in view of the COVID-19 pandemic.

Showcased at the Republic Day parade were the Centurion tank, PT-76 tank, 75/24 Pack howitzer and OT-62 TOPAZ armoured personnel carrier that played a major role in defeating Pakistan in the 1971 war. Read more

Air India likely to be handed over to Tata group on Thursday

The Indian government is likely to hand over Air India to the Tata Group on Thursday, nearly 69 years after it was taken from the conglomerate, officials said on Wednesday.

After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited - a subsidiary of the Tata Group's holding company - for Rs 18,000 crore. Read more

'Each dose of Covishield, Covaxin may cost Rs 275 after regular market nod'

The price of Covishield and Covaxin, the Covid vaccines which are expected to soon get regular market approval from India's drug regulator, is likely to be capped at Rs 275 per dose plus an additional service charge of Rs 150, official sources said.

According to them, the National Pharmaceutical Pricing Authority (NPPA) has been directed to start working towards capping the price to make the vaccines affordable. Read more

Global share sell off pauses in Asia as investors await Fed policy update

Asian share markets steadied on Wednesday after three sessions of losses as investors awaited any hints about faster tightening of monetary policy from the U.S. Federal Reserve later in the day.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1% on Wednesday, after sharp losses earlier in the week which have left the index off 2.8% this year. It is testing mid-December's one-year low. Read more