The Sensex fell 1,203 points to 28,265.31 and the NSE Nifty Index lost 343.95 points to close at 8,253.80 in the selling avalanche.
Having been stuck for the last two weeks, truckers have e-way bills for goods in transit or in godowns, which were getting expired and could not be renewed on due dates.
Industry data show that MSIL sold 75,000-80,000 units every month on average in the second half of 2009-10, numbers that are comparable to those of March 2020.
The RBI said the time period for realisation and repatriation of export proceeds made up to or on July 31, 2020 has been extended to 15 months from the date of export.
He talks about the priorities, pain points, and fiscal needs of what he calls a “warlike economy”.
The Ordinance, which got presidential assent Tuesday, also amended the provisions of the Income-tax Act to provide the same tax treatment to the PM-CARES Fund as available to the Prime Minister’s National Relief Fund.
The Sensex rose 1,028.17 points, or 3.62 per cent, to 29,468.49, while the NSE Nifty gained 3.82 per cent, or 317 points, at 8,597.75.
My sense is that the lockdown was the right thing to do and it does seem like that was the only way of preventing and delay the rise in number of cases and, in the meantime, prepare the facilities, medical equipments and infrastructure to fight it out, says Naushad Forbes.
For instance, hydroxychloroquine and chloroquine medicines like Ipca Laboratories’ HCQS and Lariago are still stocked out in several pharmacies in Delhi.
Out of gross borrowings of Rs 7.8 lakh crore in FY21, the Centre has proposed to borrow Rs 4.88 lakh crore, or 62.56 per cent, in the first half of the fiscal, as against 62.25 per cent done in the previous fiscal.
The move is expected to ensure continuity of payments amid a cash crunch being faced by companies.
While state-run BSNL and MTNL have extended the validity of all such pre-paid subscribers till April 20, private telcos such as Bharti Airtel, Vodafone Idea, and Reliance Jio Infocomm also held internal review and meeting on Tuesday to discuss the issue.
Since the RBI has said that interest will continue to accrue on the outstanding portion of the loan during the moratorium period, it may increase the customers’ burden significantly.
The benchmark Sensex plummeted 1,375.27 points to 28,440.32, while the NSE Nifty index fell 379.15 points to 8,281.10.
According to a research note by Bank of America (BofA) Securities, app downloads of Zee5, Amazon Prime and Netflix showed a strong spike in March “as consumers look to watch content when being locked at home”.
The three-month insurance scheme was part of the Rs 1.70 lakh Pradhan Mantri Garib Kalyan package announced by Finance Minister Nirmala Sitharaman last week.
The Indian Banks Association, meanwhile, has advised customers that most banking services are available online.
Experts said this window provides an opportunity to firms to complete long standing compliances, besides providing them additional time to complete filings that are falling due in the time of the COVID-19 outbreak.
he Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund was constituted by the government earlier this week to receive charitable contributions to deal with emergency situations like the current coronavirus outbreak.
On Sunday, low-cost carrier SpiceJet said one of its first officers had tested positive for the disease.