Latest News
- After 30 pc salary cut, MPs to lose another Rs 27,000 per month in allowances
- JM Financial donates Rs 30 crore for COVID19 relief
- Covid-19 throws a wrench into India's disinvestment plans
- 1 lakh random rapid COVID-19 tests to be conducted in Delhi's hotspot areas: Arvind Kejriwal
- Lufthansa to cut fleet size, close Germanwings as virus hits
- News broadcasters body ''deplores'' Sonia Gandhi's suggestion of ban on media ads by government
- GoM recommends extension till May 15 closure of educational institutions, restricting public activities
- Haryana forms teams to check prices and hoarding of essential commodities
- Government approves alternative bags made of polymer to package foodgrains
Latest Business News
Refresh- MCX achieves record market share of 94% in FY20
In FY20, the average daily turnover of futures trading on the bourse was Rs 32,423 crore, an increase from Rs 25,647 crore in 2018-19.
- No requirement to invoke roaming arrangement: Airtel CTO
The telecom operator had said it is an important measure to avoid disruption in the networks to support work from home. The company on March 23, wrote to Reliance Jio, Vodafone Idea, BSNL and MTNL for an intra circle roaming (ICR) arrangement terming it "of paramount importance" to serve the nation and prepare for any kind of exigency.
- After 30 pc salary cut, MPs to lose another Rs 27,000 per month in allowances
According to the orders, the Joint Committee of Parliament in consultation with the government recommend a 30-per cent cut in Constituency Allowance of Rs 70,000 per month of each MP, which comes to Rs 21,000 per month.
- DHFL not to make any payment to lenders, bondholders
DHFL said all the rated debt papers of the company are carrying default grade ratings and disclosures on the same have been made to the exchanges.
- Ranosys Technologies partners with Bikaner Technical University to skill 10,000 tech graduates
“The OutSystems Education Program is a strategic, multi-year initiative where Out Systems works side by side with partners and customers to help provide free access to our technology to universities and schools.
- JM Financial donates Rs 30 crore for COVID19 relief
The group extended the rest towards support for healthcare assistance to counter the pandemic. The amount would be raised from the group’s CSR fund and contributions from Nimesh Kampani.
- Covid-19 throws a wrench into India's disinvestment plans
Strategic divestment in Shipping Corporation of India and Container Corporation of India has been put on hold in the wake of the global outbreak of Covid-19 even as the government evaluates plans to reduce its stake in state-owned entities to 51%.
- Wipro to announce Q4 results on April 15
The results will be announced after stock market trading hours.
- 1 lakh random rapid COVID-19 tests to be conducted in Delhi's hotspot areas: Arvind Kejriwal
Currently, 2,950 beds in city hospitals are reserved for COVID-19 patients. The Delhi government will takeover 12,000 hotel rooms in the wake of spike in number of coronavirus cases, Kejriwal said. "We will give the police phone numbers of Tablighi Jamaat event attendees to trace and ascertain whether they moved in nearby areas," he said.
- Lufthansa to cut fleet size, close Germanwings as virus hits
Demand for flights has plummeted as countries around the world close their borders and restrict movement in a bid to stem the pandemic, plunging even large airlines like Lufthansa into an unprecedented crisis.
- Trade setup: Nifty50 likely to extend technical pullback
The 8,885 and 9,000 levels will act as resistance, while the support may come in at 8,710 and 8,590.
- Hotel industry might take 6 to 9 months to recover fully: Puneet Chhatwal, MD and CEO , Indian Hotel Company
India like many other countries has imposed a total shutdown of air traffic, both domestic and international. The 21-day lockdown is preventing movement of people till April 14. Re-opening of air travel will have a phased approach. In India, we have a very strong domestic tourism market, over 87%, a key factor in the industry’s recovery.
- News broadcasters body ''deplores'' Sonia Gandhi's suggestion of ban on media ads by government
In a letter to Prime Minister Narendra Modi, Congress president Sonia Gandhi made various suggestions for fighting COVID-19 including imposing a "complete ban on media advertisements - television, print and online - by the government and Public Sectors Undertakings (PSUs) for a period of two years".
- GoM recommends extension till May 15 closure of educational institutions, restricting public activities
A meeting of the GoM chaired by Defence Minister Rajnath Singh and participated by Home Minister Amit Shah and Finance Minister Nirmala Sitharaman concluded that religious centres, shopping malls and educational institutions must not be allowed to resume normal functioning at least for four weeks from April 14 when the current lockdown ends.
- Haryana forms teams to check prices and hoarding of essential commodities
Sharing more information in this regard, a spokesman of Food, Supplies and Consumer Affairs Department said that the rate capping of 25 essential commodities including pulses, sugar, salt, wheat, flour, potatoes and onions has been done by all the Deputy Commissioners in their respective districts and every shopkeeper has been strictly directed not to sell any product above the capped rate.
- Government approves alternative bags made of polymer to package foodgrains
The COVID-19 related lockdown has affected the working in the jute mills thereby disrupting the production of jute bags. Textiles ministry on Tuesday said the move is aimed to protect the interest of the wheat farmers as the grains are likely to ready for packing mid-April onwards.
- Skoda to fund dealers’ April-June fixed cost, new launches on schedule
This financial support will be to pay salaries and meet other fixed cost at the company’s 80 dealer outlets in the country, Skoda said on Tuesday. It may be releasing Rs 50-60 crore this quarter to meet the obligations on behalf of dealers.
- How COVID-19 hits bad loan business
State Bank of India, Bank of Baroda, IDBI Bank, Bank of India, HDFC Bank, Union Bank of India, Allahabad Bank, and L&T Finance are some of the lenders that put up assets for sale, dealers said. Individual lenders could not be contacted immediately for comments.
- Big Opec+ oil output cuts depend on US, others joining
Global oil demand has dropped by as much as 30%, or about 30 million barrels per day (bpd).
- Assam government is in favour of conditional lockdown post April 15: Himanta Biswa Sarma
Sarma who is also education minister assured that state government is drafting elaborate guidelines for schools pertaining to fees payment and others.
- Bulk & Block Deals: UBS Principal Capital Asia laps up IndusInd Bank shares
Axis Trustee Services sold 15,98,321 shares in Reliance Capital at Rs 4.50 apiece. The shares closed flat at Rs 4.50.
- Rupee surges 49 paise to end at 75.64 against dollar amid stocks rally
Traders said investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
- Assam CM Sarbananda Sonowal dials former CMs, and former union ministers
Assam Transport Minister Chandra Mohan Patowary in a review meeting has directed the senior officers of Transport Department to ensure that adequate numbers of trucks are made available for carrying of essential food commodities in the districts.
- Covid outbreak hinders cancer treatment in hospitals
Oncologists recommend deferment of non-critical surgeries, radiation and chemotherapy sessions taking into account the low immunity levels of cancer patients.
- Retailers and e-commerce firms hire more, expand home delivery for business after lockdown
Walmart-owned Flipkart is undertaking fresh hiring of 4,000 people, Spencer's Retail 1,000, two senior industry executives said. Reliance Retail and Arvind Fashion are building their processes for a surge in e-commerce and phone orders, and training manpower for that.
- Centre may require additional Rs 5 lakh crore to support economy hit hard by COVID-19: Subhash Chandra Garg
"It seems necessary and advisable that the Government of India borrow this directly from the Reserve Bank of India instead of borrowing from the market. The FRBM (Fiscal Responsibility and Budget Management) Act should be amended to enable this," the former finance secretary said.
- CBSE to offer skill courses as additional 6th subject for classes 6 to 11
The Central Board of Secondary Education (CBSE) will offer skill courses as an additional sixth subject for classes 6 to 11 from 2020-21 academic session, officials said on Tuesday. In essence this flexibility will keep multiple career possibilities open for each student, instead of the current situation of rigidity once the first choice is made.
- Ahead of Market: 12 things that will decide stock action on Wednesday
Analysts said NSE Nifty needs to cross the 8,360 level for an initial target above 9,040.
- Government classifies health facilities into 3 categories for COVID-19 patient care
These COVID-19 dedicated facilities will have separate earmarked areas for suspected cases and confirmed cases, and ensure the available hospital bed capacity is used only for moderate to severe cases of the infection, it said in a document.
- Punjab relaxes cost of power to industry, household consumers
The PSPCL will have to bear additional burden of Rs 350 crore due to the various reliefs announced for the consumers, an official spokesperson said, adding that the Chief Minister also lauded the employees of PSPCL and PSTCL for their untiring efforts in maintaining continuous supply of power in this time of crisis.
- TN CM orders Rs 1 crore cut in MLA fund to channel it for virus fight
The fund deducted will be used for buying medical equipment, drugs and prevention initiatives against coronavirus across Tamil Nadu.
- CCI approves Hitachi's stake-buy in ABB's power grid arm
ber 2018, Swiss power major ABB Group had said the Japan-based Hitachi will buy an 80.1 per cent stake in its power grids arm in a deal that values its grid business at USD 11 billion (Rs 78,763 crore).
- Exporters seek PM intervention for comprehensive package do deal with COVID crisis
"Our exports will take an unprecedented hit in such challenging times. The worst-hit are lifestyle products like leather, carpets, handicrafts, apparels etc which are having over 75 per cent cancellations. This will also put pressure on current account deficit as overseas remittance will decline so will be FDI/FIIs inflow in the country," he said.
- States hopeful of incentives from Centre to farmers for staggered wheat arrival
The federal wheat procurement in India has been deferred to April 15 and the states needs to maintain social distancing during the 45-50 day long marketing season that usually witnesses convergence of farmers across districts.
- Andhra to procure 3 lakh rapid testing kits, set up 13 Covid hospitals
Learning from the experience of other countries with respect to the need of Covid exclusive hospitals, the government has identified and designated 13 hospital in 13 district as Covid hospitals. No other patients will be treated in these hospitals to avoid further transmission, said the government.
- NSE penalises over 50 brokers for failing to comply with new derivatives rules
Participants say the quantum of penalties is too high given that many brokerages are struggling.
- Number of coronavirus cases in Maharashtra crosses 1,000
Apart from Mumbai's 116 cases, new cases were reported from Pune (18), three each from Ahmednagar, Nagpur and Aurangabad, two each from Thane and Buldana, and one each from Satara, Ratnagiri and Sangli, said the Health department official.
- COVID-19: KoPT invokes 'force majeure' to give relief to port users
Kolkata Port Trust has carried out a major sanitisation drive in all berths at Haldia dock complex to bring its operations to the normal level which slumped to 50 per cent after a dock employee was tested positive to coronavirus on Saturday.
- COVID-19 crisis can push 40 crore informal sector workers in India deeper into poverty: ILO
"COVID-19 is already affecting tens of millions of informal workers. In India, Nigeria and Brazil, the number of workers in the informal economy affected by the lockdown and other containment measures is substantial," the ILO report released in Geneva said.
- Economists revise India's growth forecast in less than a month due to uncertain impact of COVID-19
"Intensifying Covid-19 pandemic and a looming global recession have cast an unprecedented cloud over the credit quality outlook of India Inc, which has already been impacted by a slowing economy. This has forced CRISIL to slash its base-case gross domestic product (GDP) growth forecast for fiscal 2021 to 3.5%," Crisil said in a release on April 02.
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