Economy

With industries set to reopen, NDMA issues workplace safety guidelines for factories to contain COVID-19 spread

The measures include 24-hour sanitisation of premises; temperature check of all employees twice daily; providing face shields, masks & PPEs; creating physical distancing by...

FM: Rs 18.2K crore paid to 9.13 crore farmers under PM-KISAN, 3 crore avail moratorium benefit

Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, each farmer gets Rs 6,000 of income support in a year in three equal instalments...

Job losses for 20.5 million Americans herald more pain to come

The coronavirus pandemic brought the U.S. economy to a standstill after a record-long expansion, with April’s losses erasing roughly all of the jobs added...

Pharma sector missed FY20 export target of $22 bn, says industry body

Exports in this sector grew 7.57 per cent, as against the targeted 15 per cent, to touch $20.58 billion, with shipments dropping nearly 3...

Moody’s cuts FY21 growth forecast to 0%

The global rating agency had in November 2019 revised down its outlook for India from stable to negative, although its sovereign rating of Baa2...

Nirmala Sitharaman: ‘PSB loans of Rs 5.66L crore waiting for disbursal soon after lockdown’

A recent report by Crisil points out how SMEs are hit when the economy moves into a low-growth phase. Amid delays in the announcement of...

Home loans from SBI to get cheaper as bank cuts MCLR by 15 bps

SBI Home Loan EMIs: The move will benefit those customers of SBI who have their loans linked to its Marginal Cost of funds based...

Kotak Mahindra Bank declares 10% pay cut for staff with over Rs 25 lakh annual salary

The move comes weeks after the top management voluntarily surrendered 15 per cent of their payments for 2020-21. Private sector lender Kotak Mahindra Bank has...

Yes Bank posts Rs 2,629 crore Q4 net on bond write-down

The bank had reported a loss of Rs 18,560 crore in the December quarter. The income from write-down of AT1 bonds worth Rs 8,415...

SBI, other banks agree to extend moratorium to NBFCs, MFIs

SBI and other banks will offer the moratorium on loan repayment to NBFCs which have taken loans from them, banking sources said. After initial hesitation,...

Covid-19 effect: Insurers get 900 treatment claims worth Rs 18 crore

General insurance companies have received 900 claims for over Rs 18 crore towards COVID-19 treatment till Monday, according the General Insurance Council, the official...

Market

Sensex rallies over 500 points; Reliance Industries jumps 3 per cent

After touching a high of 32,182.36, the 30-share index was trading 531.55 points or 1.68 per cent higher at 32,174.25. Similarly, NSE Nifty surged...

Sensex gains 199 points, Nifty settles a tad above 9,250-mark led by pharmaceutical, FMCG stocks

The S&P BSE Sensex rose 199.32 points (0.63 per cent) to end at 31,642.70. likewise, the Nifty 50 settled at 9,251.50, up 52.45 points...

Sensex falls 242 points, Nifty ends a tad below 9,200; financials, FMCG, banks top laggards

The S&P BSE Sensex slipped 242.37 points (0.76 per cent) to end at 31,443.38, while the broader Nifty 50 settled at 9,199.05, down 71.85...

Oil marketing companies’ shares drop up to 13% on hike in excise duty

Hindustan Petroleum Corporation Ltd (HPCL) shares tanked 13 per cent, Bharat Petroleum Corporation Ltd (BPCL) plunged 9.99 per cent and Indian Oil Corporation (IOC)...

Sensex rises 232 points, Nifty ends at 9,271 aided by banks, financial stocks

The S&P BSE Sensex ended at 31,685.75, registering a rise of 232.24 points (0.74 per cent), while the Nifty 50 climbed 65.30 points (0.71...

Banking And Finance

RBI gold reserves up 40.4 tonnes in 2019-20, more than half of total holdings held overseas

The RBI’s total gold reserves were 612.56 tonnes in the preceding fiscal ended March 2019. With the addition of more stocks, the value of...

Currency with public continues to swell in line with coronavirus lockdown extension

The rise in currency with the public comes despite appeals by the government and the RBI to use digital payment tools amidst the coronavirus...

ICICI Bank posts 26% rise in Q4 net, sets aside Rs 2,725 cr for COVID-19-related provisions

Gross non-performing assets of the bank fell to 5.53 per cent of advances (Rs 41,409 crore) in Q4 of FY20 from 6.70 per cent...

AIIB clears $500-mn loan to support India’s fight against COVID-19

The project will be implemented by the National Health Mission (NHM), the National Centre for Disease Control (NCDC) and the Indian Council of Medical...

SBI slashes MCLR by 15 bps across all tenors

On March 27, the RBI, in its first COVID package, had slashed the repo rate by 75 bps to 4.40 per cent and cash...

FM: Rs 18.2K crore paid to 9.13 crore farmers under PM-KISAN, 3 crore avail moratorium benefit

Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, each farmer gets Rs 6,000 of income support in a year in three equal instalments...

Job losses for 20.5 million Americans herald more pain to come

The coronavirus pandemic brought the U.S. economy to a standstill after a record-long expansion, with April’s losses erasing roughly all of the jobs added...

Pharma sector missed FY20 export target of $22 bn, says industry body

Exports in this sector grew 7.57 per cent, as against the targeted 15 per cent, to touch $20.58 billion, with shipments dropping nearly 3...

Moody’s cuts FY21 growth forecast to 0%

The global rating agency had in November 2019 revised down its outlook for India from stable to negative, although its sovereign rating of Baa2...

Post-Templeton fiasco, credit risk funds see outflows of Rs 19,238 crore

The total corpus of credit risk fund category declined sharply to Rs 35,222 crore from around Rs 55,000 crore in March. Credit risk schemes and...

COVID-19 Effect: Employer bodies seek longer working hours, easing of some provisions for 2-3 years

The suggestion to suspend labour laws follows the Uttar Pradesh government’s move to bring an ordinance this week to suspend all labour laws, barring...

Companies

Vista Equity Partners to invest Rs 11,367 crore in Jio Platforms

Vista’s investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor...

BMW launches 8 Series Gran Coupe, M8 Coupe in India

The BMW 8 Series Gran Coupe is powered by a 3-litre, 6-cylinder in-line BSVI petrol engine. This is the most luxurious sports coupe ever...

RIL raises Rs 60,596 crore from Jio Platforms stake sale to Facebook, Silver Lake, Vista Equity Partners

The latest deal puts the Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh...

Vista Equity Partners picks up 2.32 pc stake in Jio Platforms for Rs 11,367 cr: Statement

Vista's investment in Jio Platforms Limited will translate into a 2.32 per cent stake, which will make Vista the largest investor in Jio Platforms...

GSK offloads stake in Hindustan Unilever for over Rs 25,000 crore

The GSK sale, at an average price of Rs 1,905 per share, is the largest secondary market trade on Indian stock exchanges. GlaxoSmithKline Plc (GSK)...
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