Market Today

1. Three private banks pare stake in Yes Bank within 14 days of investing

The highest number of shares were sold by Federal Bank at 5.86 crore, followed by Kotak Mahindra Bank (4.72 crore) and IDFC First Bank (4.02 crore)

2. Swiggy, Zomato delivery executives lose all income as Telangana bans food delivery

“You’ll live even if you don’t eat pizza for the next 10-15 days. Stay home, eat healthy home cooked food,” Telangana Chief Minister K Chandrashekhar Rao said in a press meet on Sunday as he banned Swiggy and Zomato in the state from Monday.

3. HDFC declines 2% on home loan rate cut, NCDs issuance report

Share price of leading mortgage lender Housing Development Finance Corporation (HDFC) fell 2 percent intraday on April 22 after it slashed its lending rate by 15 basis points amid a gradual decline in the cost of borrowing across the system.

4. TCS to power Israel's first fully digital bank

TCS was selected by Israel's Ministry of Finance to transform its banking sector by building a banking service bureau that would serve as a shared, plug-and-play, digital banking operations platform – powered by the TCS BaNCS Global Banking Platform - to help start-up banks launch their operations very quickly, the company said in a press release.

5. Indian drugmakers begin developing remdesivir, ‘world’s best shot’ against Covid-19

Key pharma companies including Cipla, Glenmark and Dr. Reddys, according to the industry sources, have started working on the development of the drug which is under patent protection until 2035.
 
But for now, according to the “Bolar Provision”, the companies are allowed to formulate the drug, strictly for the research and development purposes only and it cannot be marketed. Due to this, key pharma companies have started the process to develop the drug’s raw material, the active pharmaceutical ingredients (APIs).