While factories in China gradually restarted operations after lengthy shutdowns and a fall in virus cases allowed the country to start relaxing travel restrictions, activity in South Korea shrank at its fastest pace in 11 years as many of its trading partners imposed dramatic measures to curb the virus' spread.
Sales of mini cars comprising Alto and WagonR stood at 15,988 units as compared to 16,826 units in the same month last year, down 5 per cent.
As of 0345 GMT, Brent crude was down by 47 cents, or 1.8%, at $25.88 a barrel. US West Texas Intermediate crude was up 12 cents, or 0.6%, at $20.6 a barrel, an uptick analysts said was driven by position building at the start of a the new quarter.
As India now conducts the world’s biggest lockdown, budget pressures are set to worsen.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.23%. Australian shares jumped by 2.87%, reversing a 2% decline on Tuesday, as a slowdown in new coronavirus cases and rising iron ore prices lifted the market.
According to a senior official in SpiceJet, there were some employees who had got just a few thousand rupees in their bank accounts from the company as salary till now.
The S&P BSE Sensex declined 1,203.18 points (4.08 per cent) to end at 28,265.31. the broader Nifty 50 ended at 8,253.80, down 343.95 points (4.00 per cent). Both the indices had opened around 1 per cent lower each and traded lower throughout the day.
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.
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.
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.
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.
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.
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.
“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?”
"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.