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Wednesday, April 01, 2020
Stocks fall, capping Wall Street's worst quarter since 2008

Stocks fall, capping Wall Street’s worst quarter since 2008

April 1, 2020 7:03:52 am

The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year.

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PPF, senior citizens savings see deep cut in interest rates

April 1, 2020 7:28:52 am

The interest rate for Senior Citizens Savings Scheme has been slashed to 7.4 per cent from 8.6 per cent, while that for National Savings Certificate has been cut to 6.8 per cent from 7.9 per cent.

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Ordinance to give full deduction for donation to PM-CARES promulgated

April 1, 2020 3:24:44 am

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.

Shutdowns weigh heavy on sentiment, Sensex tanks 13% in biggest daily crash

Sensex gains 1,028 pts, ends FY20 31.23% lower

April 1, 2020 3:22:45 am

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.

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Naushad Forbes interview: ‘Income support scheme runs risk of leaving some needy out’

April 1, 2020 3:15:40 am

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.

A week into lockdown: Disruption in supply of essential medicines, dearth of staff at drug stores

April 1, 2020 3:03:19 am

For instance, hydroxychloroquine and chloroquine medicines like Ipca Laboratories’ HCQS and Lariago are still stocked out in several pharmacies in Delhi.

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Govt hikes WMA limit with RBI by 60%; frontloads borrowing

April 1, 2020 3:00:25 am

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.

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FinMin extends validity of lower withholding tax orders by three months

April 1, 2020 2:32:05 am

The move is expected to ensure continuity of payments amid a cash crunch being faced by companies.

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RIL once again overtakes TCS to become the most valued firm

March 31, 2020 9:47:09 pm

At close of trade, the market capitalisation (m-cap) of RIL was Rs 7,05,211.81 crore, which was Rs 21,133.32 crore more than that of Tata Consultancy Services' Rs 6,84,078.49 crore valuation on the BSE.

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Coronavirus effect: ITC starts producing Savlon hand sanitisers from fragrances factory

March 31, 2020 5:34:22 pm

The company said it has re-purposed the perfume facility to help produce an additional 1,25,000 litres of Savlon hand sanitisers as there has been an unprecedented surge in demand for hand hygiene products like sanitisers.

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Covid-19 effect: Government extends validity of vehicle permits till June-end

March 31, 2020 5:03:04 pm

In an advisory to all states and Union Territories, the Ministry of Road Transport and Highways has asked them to treat such documents as valid till June 30.

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Farmers’ union protest government decision to waive off trait fee on BG cotton

March 31, 2020 3:28:52 pm

“Companies who introduce newer technologies invest in its research and development. In case they see no return on their investments, why would they introduce the same for our farmers?”

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Coronavirus impact: SpiceJet to cut 10-30 per cent salary of all employees in March

March 31, 2020 3:25:26 pm

"SpiceJet management has decided to implement a pay cut between 10-30 per cent in March across our employee base. Our Chairman and Managing Director (Ajay Singh), in fact, has opted for the highest cut of 30 per cent in compensation," the airline said in the communication.

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Covid-19 impact: G20 trade ministers agree to ensure uninterrupted flow of vital medical supplies

March 31, 2020 2:47:52 pm

According to a joint statement issued after a video conference, the ministers agreed to support the availability and accessibility of essential medical supplies at affordable prices, on an equitable basis, where they are most needed and will guard against profiteering and unjustified price increases.

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Govt says financial year 2019-20 not extended; clarifies on income tax compliance

March 31, 2020 2:15:50 pm

The Ministry of Finance has issued a clarification after some reports claimed that the fiscal year was going to get extended.

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Bharti Enterprises pledges over Rs 100 crore to support India’s fight against coronavirus

March 31, 2020 12:44:53 pm

"Bharti Enterprises and its companies Bharti Airtel, Bharti Infratel and others are contributing a sum of over Rs 100 crore for India's fight against COVID-19," the statement said.

Mistry Group seeks up to $1 billion by pledging Tata stake

March 31, 2020 12:34:43 pm

Mistry’s Shapoorji Pallonji & Co. had 90.2 billion rupees ($1.2 billion) of debt as of Sept. 30, according to rating assessor ICRA Ltd. A representative for Shapoorji Pallonji Group declined to comment.

Oil rebounds from 18-year lows after US, Russia agree to talks

March 31, 2020 11:21:40 am

Brent crude was up by 43 cents, or 1.9%, at $23.19 a barrel by 0406 GMT, after closing on Monday at $22.76, its lowest finish since November 2002.

Asia shares edge up as China factories show flicker of life

March 31, 2020 10:25:47 am

Japan's Nikkei firmed 1.0% after a jittery start, while South Korea added 2%. E-Mini futures for the S&P 500 added another 0.6%, supported by talk of book-keeping demand.

Sensex climbs 1,028 points, Nifty settles near 8,600-mark tracking global rally

March 31, 2020 4:17:57 pm

The S&P BSE Sensex ended at 29,468.49, up 1,028.17 points (3.62 per cent) while the Nifty 50 settled at 8,597.75, up 316.65 points (3.82 per cent).