Top headlines: India to buy 10 mn doses of ZyCoV-D; Britannia Q2 net falls

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Stock exchanges to start T+1 settlement cycle from Feb 25, 2022 in phases

India’s stock exchanges have decided to jointly introduce the T+1 settlement cycle in phases from February 25, beginning with the bottom 100 stocks by market capitalisation.

From March 2022, on the last Friday (or the immediate next trading day) of every month, the next bottom 500 stocks by market cap will be subject to T+1 settlement. The phase-wise implementation is expected to give all market participants, including foreign portfolio investors, ample time to shift to the shorter cycle. Read more

Uphaar fire case: Ansal brothers get 7-yr jail term for tampering evidence

A Delhi court Monday awarded 7-year jail terms to real estate barons Sushil and Gopal Ansal for tampering with evidence in the 1997 case of Uphaar cinema fire which had claimed 59 lives.

Chief Metropolitan Magistrate Pankaj Sharma also imposed a fine of Rs 2.25 crore each on the Ansals. Read more

India to buy 10 mn doses of Zydus Cadila's Covid vaccine at Rs 265 per dose

Drug firm Zydus Cadila on Monday said it has received an order to supply 10 million doses of its COVID-19 vaccine, ZyCoV-D, to the Indian government at Rs 265 per dose.

"Zydus Cadila has received an order to supply one crore doses of ZyCoV-D, the world's first Plasmid DNA Vaccine, to the Government of India at Rs 265 per dose and the needle-free applicator being offered at Rs 93 per dose, excluding GST," the pharma firm said in a regulatory filing. Read more

Britannia Q2 net down 23% in Q2 due to rising palm oil, fuel prices

Britannia’s net profit, attributable to the shareholders of the company, plunged 23 per cent to Rs 384 crore in the quarter ended September, compared to Rs 498 crore in the year-ago period as inflation pushed up the prices of palm oil, industrial fuel and packaging.

The company’s cost of materials increased 8 per cent from Rs 1,768 crore in the September quarter last year to Rs 1,915 crore in the corresponding quarter of FY22. Read more