Mukesh Ambani Foregoes His Salary Till 'COVID-19 Impact Abates'

The company has also decided to cut employees' pay by up to 50 per cent

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Reliance Jio Net Profit Grows 177.5% In Fourth Quarter

The company's net profit rose to Rs 2,331 crore, up from Rs 840 crore in fourth quarter

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Reliance Industries Profit Falls 39% To Rs 6,348 Crore In Q4

Shares in Reliance Industries ended 2.86 per cent higher at Rs 1,467.05 apiece, in line with a 3.05 per cent surge in the benchmark S&P BSE Sensex.

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Hindustan Unilever Profit Declines In Q4 As COVID-19 Hits Demand

Hindustan Unilever's revenue from sale of products fell nearly 10 per cent to Rs 9,055 crore from Rs 10,018 crore in March quarter of last year.

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Tech Mahindra March Quarter Profit Falls 30% To Rs 804 Crore

Tech Mahindra said its income of operations stood at Rs9,490.2 crore in the final quarter of financial year 2019-20.

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Reliance Industries Announces Pay Cuts, Mukesh Ambani To Forego Salary

India's Reliance Industries has cut the pay of employees by up to 50 per cent, according to a company letter, in wake of the coronavirus epidemic.

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Core Sector Output Contracts By 6.5% In March

All the eight core sectors saw a decline in production in March.

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Reliance Industries Cuts Pay Of Executives In Oil-And-Gas Division: Report

Reliance Industries has decided that employees earning more than Rs 15 lakh annually will face a 10 per cent salary cut.

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Sensex Surges 14% In April, Clocks Best Month In 11 Years Amid COVID-19

The Sensex ended 997 points or 3.05 per cent higher at 33,718 and Nifty 50 index surged 307 points or 3.21 per cent to settle at 9,860.

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Amended Trading Hours Of Currency, Debt Markets To Continue, Says RBI

In March, the timings of commodity derivatives had also been revised

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Rupee Gains To Briefly Move Above 75 Mark Against Dollar

Rupee Vs Dollar Exchange Rate: Gains in domestic equity benchmarks in tandem with global markets along with weakness in the dollar overseas supported the rupee, say analysts.

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RBI Extends Benefits Of Liquidity Fund For Mutual Funds To All Banks

All banks, irrespective of whether they avail funding from the central bank or deploying their own resources will now enjoy the benefits

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Serum Institute To Make Crores Of Potential Coronavirus Vaccine Doses

Serum, the world's largest maker of vaccines by volume, is mass-producing the vaccine candidate developed by the University of Oxford.

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Glenmark To Conduct Clinical Trials For COVID-19 Drug; Shares Surge

Glemark said the approval made it the first pharmaceutical company in India to be given the go-ahead to start trials on COVID-19 patients.

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India's Gold Demand Between January-March Falls 36%: WGC

Volatile prices, economic uncertainties and the coronavirus lockdown has led to shortage in demand

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Gold Futures Climb To Touch Rs 45,800 Per 10 Grams Mark

Gold Rate In India: At 11:37 am, the gold futures contract (delivery on June 5) was up by Rs 184.00 per 10 grams - or 0.40 per cent - at Rs 45,730 per 10 grams.

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Gold Rate Edges Lower As COVID-19 Treatment Hopes Bolster Risk Appetite

Gold tends to benefit from widespread stimulus measures as it's often seen as a hedge against inflation and currency debasement.

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Sensex, Nifty Jump Over 3% As Global Markets Gain On COVID-19 Drug Hopes

Domestic stock markets jumped more than 3 per cent on the last trading session of the week, a day after scaling six-week highs, tracking gains in Asian peers where encouraging early results from a...

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Reliance Industries Shares Rise 3% Ahead Of March Quarter Earnings

On the BSE, the Reliance Industries stock rose more than 3per cent to trade at Rs 1,476apiece at the strongest level in morning deals.

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Strides Pharma Soars 10% On Development Of Antivirals For Covid-19

Strides Pharma shares zoomed more than 10 per cent on the BSE on Thursday after the company said that it has developedFavipiravir antiviral tablets for the treatment of COVID-19.

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Glenmark To Conduct Trials For Potential COVID-19 Drug, Shares Jump

Glenmark Pharmaceuticals, which rose as much as 8.9 per cent to Rs 359, traded up 5.9 per cent at 9:37 am.

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Sensex, Nifty Jump Over 2% On Global Cues; Reliance Industries In Focus

Investors around the globe have been excited by the prospect of a COVID-19 treatment because it may help countries emerge from lockdowns.

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Gap-Up Opening Likely For Sensex, Nifty Tracking Global Markets

Asian shares touched a seven-week high lifted by encouraging early results from a coronavirus (COVID-19) treatment trial.

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Oyo To Offload More Loss-Making Hotels Amid Coronavirus Pandemic: Report

Sources say the company may furlough additional staff in countries where travel curbs to prevent the spread of the virus persist

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Power Demand Seen Falling For First Time In Almost Four Decades: ICRA

ICRA expects annual electricity demand to fall 1 per cent during the year ending March 2021 due to the impact of a nationwide lockdown.

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Boeing To Cut Workforce By 10% After Second Straight Quarterly Loss

The company's quarterly loss stood at $1.70 billion

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Top Court Asks Tax Department To Refund Rs 733 Crore To Vodafone Idea

Vodafone Idea has claimed that the Income Tax department did not process their tax returns from 2014-15 to 2017-18.

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Investors Switch To Bank Deposits Amid Concerns After Templeton Mess

Mutual funds investing in debt saw outflows of close to Rs 1.95 lakh crore last month

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Sensex, Nifty End At Over Six-Week Highs Led By Metal, Financial Stocks

Hindalco was top gainer in the Nifty 50 basket of shares, the stock rose 7 per cent to close at Rs 116.

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Indian Investors Venture Into US Stocks As Sensex Down 20% So Far In 2020

India's equity markets have lost more than a fifth of their value this year, while the S&P 500 has corrected by just over 11 per cent.

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Rupee Strengthens, Moves Above 76 Mark Against Dollar

At the interbank foreign exchange, the rupee opened at 75.94, then gained ground and touched 75.84, registering a rise of 34 paise over its previous close.

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Sensex, Nifty At Over Six Week Highs; Financials, Auto Shares Lead Gains

Buying was visible across the sectors barring some FMCG shares. Metal, auto, finance, banking, information technology, telecom and utilities sectors rose between 1.5-3.8 per cent each.

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34 Days After First Economic Package, India Waits For Much-Needed Aid

Faced with a weakening economy before the virus outbreak, Finance Minister Nirmala Sitharaman widened the fiscal deficit target for this year to 3.5 per cent of GDP.

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Global Lobbying Groups Urge Government To Delay New Digital Tax

Nine lobbying groups including U.S. Chamber of Commerce have urged India to delay a new digital tax that will hit firms such as Facebook and Google.

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Gold Price Today: Gold Futures Edge Higher To Touch Rs 46,100 Mark

Gold Rate Today: At 11:05 am, the gold futures contract (delivery on June 5) was up by Rs 43 per 10 grams - or 0.09 per cent - at Rs 46,109 per 10 grams.

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Axis Bank Shares Tumble Over 6% After Surprise March Quarter Loss

At 9:57 am, the Axis Bank stock traded down 4.34 per cent at Rs 435.80 apiece on the BSE, underperforming the benchmark S&P BSE Sensex index which was up 0.97 per cent.

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Employees Provident Fund Settles Almost 13 Lakh Claims During Covid-19 Lockdown

The Employees Provident Fund Organization (EPFO) has settled 12.91 lakh claims, including 7.40 lakh Covid-19 claims, under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme in order to provide...

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Sensex Opens Over 150 Points Higher, Nifty Above 9,400

Analysts say investors are still in a cautious mode assessing the measures announced by policymakers to fight the economic fallout from the coronavirus (COVID-19) pandemic.

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Welsh Chief Urges UK Government To Rescue Tata Steel's Local Unit

Mr Drakeford said the Welsh government had been in talks with Tata Steel and it was clear the Port Talbot site, the UK's largest steelworks, is important to all parties.

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Moody's Lowers India GDP Growth Projection Amid COVID-19: 10 Points

Credit ratings major Moody's on Tuesday cut its forecast for GDP or gross domestic product expansion in India on account of the economy fallout from the coronavirus (COVID-19) pandemic, which has...

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Crude Oil Rates Rise On Weaker-Than-Expected US Production

U.S. West Texas Intermediate (WTI) crude futures jumped to a high of $13.85 and were up 8.8 per cent, or $1.09, at $13.43 at 0038 GMT,

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Gold Rate Edges Higher On Weaker Dollar

Gold tends to benefit from widespread stimulus measures as it is often seen as a hedge against inflation and currency debasement.

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Sensex, Nifty Poised To Extend Gains For Third Consecutive Day

Asian shares were cautiously higher on Wednesday as investors paused ahead of the US Federal Reserve's policy decision. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 per cent...

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Alphabet Profit Up 3% In March Quarter Despite COVID-19 Impact

The internet colossus said however the impact of the pandemic began to hit online ads, its main source of revenue and profit, in March.

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Asian Development Bank Okays $1.5 Billion Loan To India For COVID-19 Fund

The loan will be used for containment of disease and social protection of the weaker section.

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13,448 Industrial Units Get Permission To Restart In Maharashtra

The units will have to strictly maintain social distancing, arrange temporary accommodation for employees and make available sanitisers.

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Axis Bank Reports Loss Of Rs 1,388 Crore In March Quarter

Axis Bank had reported a profit of Rs 1,505.06 crore during the same period last year, the bank said in an exchange filing.

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Fitch Warns Government Against Further Deterioration In Fiscal Outlook

The rating agency noted that India is likely to post dismal economic growth this year as a result of the coronavirus pandemic.

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Exporters Seek Relief Amid COVID-19 Outbreak, SBI Working On Packages

CII and all industry associations are asking for renewal of the scheme as interest rates in India are as high as 9 to 10 per cent.

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Sensex, Nifty End Over 1% Higher, Extend Gains To Second Straight Day

Axis Bank will report its earnings for the last quarter of financial year 2019-20 later in the day.

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BSE Allows Negative Price Trading In Commodity Derivatives

The release said that the feature will be enabled for members and vendors to test from 4 May onwards

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Reliance Industries To Consider First Rights Issue In 30 Years

The company, in its exchange filing did not specify any details on why the plan was under consideration

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Sensex Steady Around 31,800; Financials Rally, Pharma Under Pressure

At 12:10 pm, the Sensex traded 55.64 points - or 0.18 per cent - higher at 31,797.03 while the Nifty was up 12.35 points - or 0.12 per cent - at 9,293.60.

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Rupee Declines To 76.44 Vs Dollar Amid COVID-19 Crisis

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.10 per cent to 100.13.

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IndusInd Bank Posts 12% Fall In Q4 Profit, Says Loan Book Quality Stable

IndusInd Bank's net interest income - the difference between interest earned and interest expended - rose 44.74 per cent to Rs. 3,231.19 crore compared to the year-ago period.

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Axis Bank To Acquire 29% Stake In Max Life

The transaction is subject to approvals from Reserve Bank of India, Insurance Regulatory and Development Authority of India, and Competition Commission of India.

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Sensex Trims Early Gains, Nifty Near 9,300; IndusInd Bank Shares Jump

Selling pressure in pharmaceutical and consumer goods stocks offset buying interest in banking shares, erasing most of intraday gains in benchmark indices.

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Gold Futures Ease Nearly 1%, Near Rs 45,800/10 Grams Mark

MCX gold futures fell by as much as Rs 407 per 10 grams - or 0.88 per cent - to Rs 45,784 per 10 grams, compared to their previous close of Rs 46,191 per 10 grams.

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Axis Bank Jumps Nearly 5% Ahead of March Quarterly Earnings

At 10:00 am, the shares of Axis Bank were trading at Rs 442, higher by Rs 15 or 3.4 per cent, on the BSE.

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Gold Rate Falls As COVID-19 Lockdown Easing Plans Lift Risk Appetite

Gold tends to benefit from widespread stimulus measures as it is often seen as a hedge against inflation and currency debasement.

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IndusInd Bank Stock Hits Upper Circuit Despite Decline In Q4 Net Profit

The bank posted a profit at Rs 301.84 crore in the March quarter, a decline of 76.8 per cent compared to the previous quarter's Rs 1,300.2 crore.

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Sensex Jumps Over 400 Points; Banking Stocks Lead Gains

Axis Bank will report its earnings for the last quarter of financial year 2019-20 later in the day.

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A Guide To Government's Decisions To Cushion Economy From COVID-19

Banks don't need to set aside cash reserves for loans given to small businesses between January 31 to July 31, or for credit to help consumers buy a car or home.

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In Respite For GST Payers, Maharashtra Allows Payment Deadline Extension

The Cabinet cleared the proposal to include Article 168-A in the Maharashtra GST Act, 2017 on the lines of the Centre's move dated March 31 this year.

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Boeing Could Take 3-5 Years To Restore Dividend: CEO David Calhoun

The Boeing CEO said it could take two-to-three years for commercial airline travel to return to the level prior to the coronavirus crisis.

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Sensex, Nifty Poised To Extend Gains

Asian markets were little changed as oil prices continued to slip following an overnight plunge. Nikkei 225 was down 0.36 per cent, while the Topix index shed 0.45 per cent and South Korea's Kospi was...

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Oil Prices Tumble Due To Demand Shock Amid Coronavirus Restrictions

Oil prices slumped on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly.

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CBDT Brushes Off Tax Officers' Proposal For Coronavirus Tax On Super Rich

Officers of the IRS recommended raising the highest tax rate to 40 percent for people with annual income above Rs 10 million

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Rupee Edges Higher To End At 76.24 Against Dollar

Analysts say hopes of more stimulus measures to fight the coronavirus outbreak has led to gains in global markets.

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"Very Challenging" To Meet 2020-21 Fiscal Deficit Target: Shaktikanta Das

Shaktikanta Das said he expected the government to take a judicious and balanced call on the question of the fiscal deficit.

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India Ratings Cuts GDP Growth Forecast To 1.9%, Lowest In 29 Years

added that if the lockdown continues beyond mid-May 2020, GDP growth may slip further to negative 2.1 percent

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Sensex Soars Over 750 Points After RBI Eases Mutual Fund Concerns

Private-sector lender Kotak Mahindra Bank Ltd was the biggest mover, rising as much as 6.9% to a near four-week high.

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Gold Futures Rise To Rs 46,650 per 10 Grams Mark

Gold Rate Today: At 10:08 am, the gold futures contract (delivery on June 5) was up by Rs 23 per 10 grams - or 0.05 per cent - at Rs 46,550 per 10 grams.

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Mindtree Shares Soar 9% On Jump In Q4 Net Profit

The company reported 3.9 per cent year-on-year (YoY) jump in consolidated net profit at Rs 206.2 crore for the fourth quarter ended March 31.

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Mindtree March Quarter Profit Rises Nearly 5% To Rs 206 Crore

Mindtree said its revenue from operations stood at Rs 2,050.5 crore in the final quarter of financial year 2019-20, up 4.34 per cent on a sequential basis.

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RBI's Rs 50,000 Crore Boost For Mutual Funds, Days After Templeton Mess

The Reserve Bank of India (RBI) on Monday announced a special liquidity facility worth Rs 50,000 crore for mutual funds, in a bid to ease liquidity pressures in the segment and lift investors'...

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Gold Edges Lower As Equities Rise On Stimulus Hopes

Gold tends to benefit from widespread stimulus measures as it is often seen as a hedge against inflation and currency debasement.

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Reliance Industries Shares Extend Gains Post Reliance Jio-Facebook Deal

Last Wednesday Reliance Jio Infocomm, part of billionaire Mukesh Ambani's Reliance Industries group announced an investment of Rs 43,574 crore in Jio Platforms from Facebook Inc.

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Sensex, Nifty Likely To Open Higher

Analysts expect volatility in the four-day trading week as persistent weakness in the banking pack is possible.

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Oil Falls As Crude In U.S. Storage Nears All-Time High

Oil prices fell on signs that oil storage is filling rapidly, raising concerns that production cuts will not catch up with collapse in demand.

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Sensex, Nifty Likely To Open Higher On Positive Global Cues

The SGX Nifty wasgoing strong in early trades, adding 67 points, and Asian shares made early gains ahead of a busy earnings week.

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Prolonged Lockdown May Push Millions Into Poverty: Ex-RBI Governor

Subbarao said that as predicted by analysts, India will have a V shaped recovery which is far better than most of the other countries

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When Oil Became Waste: A Week Of Turmoil For Crude And More Pain To Come

In Russia, one of the world's top producers, the industry is considering resorting to burning its oil to take it off the market

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India Plans To Fast Track Chinese Investments After Policy Change: Report

Sources said government will try to approve any investment proposal in a non-sensitive sector within 15 days

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Akshay Tritiya Hit By Lockdown Even As Analysts Suggest Buying Gold

Traders are exploring the option to sell on the digital platform in a market where gold prices are hovering near an all-time high

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Aditya Birla, HDFC Funds Seek To Reassure Investors On Redemption

The closures sparked worries of panic withdrawals from other Franklin Templeton funds as well as credit funds of other asset managers, and triggered a storm on social media with distraught investors...

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India's Foreign Exchange Reserves Surge To $479.57 Billion

During 2020-21, the country's foreign exchange reserves had risen by almost $62 billion.

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Hit By Coronavirus Lockdown, Noida's Small Firms Seek Government's Help

Some entrepreneurs are planning to close their units if they do not get any relief from the government.

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Bharti Infratel Posts 7% Rise In March Quarter Profit To Rs 650 Crore

Bharti Infratel declared a third interim dividend of Rs 4.10 per equity share of Rs 10 each for 2019-20.

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Funds Body Urges Investor Calm After Templeton Shuts Funds

AMFI said the debt portfolios of most mutual funds had "superior credit quality" and were "fairly liquid" and called on investors to "not get side-tracked by an isolated event".

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Sensex, Nifty End Over 1% Lower, Break Two-Day Winning Run

The government has extended the biggest lockdown in the world to curb the spread of the coronavirus, which has infected over 23,000 and killed 718, according to official data.

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Rupee Drops By 40 Paise To End At 76.46 Against Dollar

The rupee opened lower at 76.30 in the interbank forex market and declined to as low as 76.47 during the session, before settling at 76.46 for the day.

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Gold Futures Rise Nearly 1% To Touch Rs 46,800 Mark Amid COVID-19 Crisis

Gold Rate Today: At 1:52 pm, the gold futures contract (delivery on June 5) was up by Rs 303 per 10 grams - or 0.65 per cent - at Rs 46,730 per 10 grams.

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Gold Price Set For Over 2% Weekly Gain Amid COVID-19 Crisis

Weak economic data from the United States and Europe due to the novel coronavirus kept gold on track for a weekly gain.

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Sensex Falls Over 550 Points Amid Coronavirus Drug Worries

The government has extended the biggest lockdown in the world to curb the spread of the coronavirus, which has infected over 23,000 and killed 718, according to official data.

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Cheaper Oil, Foreign Flows A Tailwind For Rupee

Crash in oil prices to 18-year lows is in particular a tailwind for rupee and could even return the country's current account balance to a surplus.

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US-Based Franklin Templeton Shuts 6 India Funds: 10 Things To Know

US-based Franklin Templeton Mutual Fund said on Friday that it will wind up six funds in India from April 23, locking in Rs 30,800 crore of investors' money. The development comes at a time when the...

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Franklin Templeton Locks In $4.1 Billion By Shutting Six Indian Funds

Franklin Templeton is shutting six fixed-income and credit-risk funds run by its Indian unit, locking in Rs 308 billion ($4.1 billion).

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Government Puts Dearness Allowance Hike For Employees, Pensioners On Hold

The additional installment of DA and DR due from July 1, 2020, and January 1, 2021, shall not be paid to employees and pensioners respectively.

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Sensex Opens Over 400 Points Lower, Nifty Below 9,200

Analysts say volatility cannot be ruled out in the near term as investors assess the policy measures announced so far to fight the coronavirus (COVID-19) pandemic.

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Amazon India To Provide Broader Online Exposure To Over 5,000 Local Shops

The launch of "Local Shops on Amazon" coincides with a national lockdown as millions shelter in their homes to stem the spread of the coronavirus outbreak. The pilot included places that sell...

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Coronavirus Crisis: US-Based Franklin Templeton To Close Six India Funds

The funds included Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund...

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Sensex, Nifty Likely To Have A Negative Opening

The benchmark indices are likely to open in the negative, snapping a 2-day winning streak, on the back of weak cues in the global markets.

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Chinese Investors Baffled By Government's New Foreign Investment Rules

Some Chinese investors have already "put things on hold" as they await further clarity on the rules, said Vaibhav Kakkar of Indian law firm L&L Partners.

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Government To Suspend Fresh Insolvency Proceedings Up To One Year: Report

Sources said an ordinance would be promulgated to suspend three sections of IBC for up to one year

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Bond Markets Rally On RBI's Special Open Market Operation

The benchmark 10-year bond yield dropped as much as 21 basis points on the day to 6.01 per cent

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Government Pushes Lending, Asks Banks For Data On New Loans: Report

The push comes after a recent 75 basis point rate cut by the Reserve Bank of India (RBI), and at a time when the banking system is flush with liquidity.

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India 2020-21 GDP To Shrink 0.9% In Case Of Prolonged COVID-19: CII

The CII has said that economic activity in the country has slowed down significantly across most sectors.

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Sensex, Nifty Close Over 1% Higher; Banking, IT Stocks Lead Gains

Top Nifty gainers were Zee Entertainment, Kotak Mahindra Bank, TCS, ICICI Bank and Hindalco.

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Dearness Allowance Increment For Central Government Employees Put on Hold

Additional installment of DA and DR due from July 1, 2020, and January 1, 2021, shall also not be paid

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FMCG Giant Unilever Withdraws 2020 Forecast, To Pay Interim Dividend

First-quarter turnover rose 0.2 per cent to 12.40 billion euros, slightly missing estimate of 12.77 billion euros, according to analysts polled by Factset.

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Rupee Bounces Back From All-Time Low, Touches 76.08 Against Dollar

On Wednesday, the rupee had surpassed 76.87 to log a new all-time low of 76.91 before recovering intraday losses.

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Rupee Rises By 48 Paise To 76.20 Against Dollar

Forex traders said higher opening of domestic equities supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the currency.

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India Growth Likely To Slip Below 1% In 2020-21: Fitch

Many groups of economists have lowered their GDP or gross domestic product projections for India.

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Gold Futures Rise Nearly 1% To Touch Rs 46,450 Mark Amid COVID-19 Crisis

At 10:14 am, the gold futures contract (delivery on June 5) was up by Rs 241 per 10 grams - or 0.52 per cent - at Rs 46,408 per 10 grams.

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Facebook Bets On India With $5.7 Billion Reliance Deal

Facebook is set to spend $5.7 billion to buy a 9.99 per cent stake in Reliance Industries' digital arm,

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Oil Rises For Second Day As Producers Cut Output To Cope With Demand Loss

Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel.

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Gold Price Gives In To Profit-Taking After 2% Jump

Against key rivals, the dollar climbed to a more than two-week peak earlier in the session, making gold costlier for investors using other currencies.

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Sensex, Nifty Open Higher

MSCI's broadest index of Asia Pacific shares outside of Japan bounced from two-week lows to be up 0.5 per cent at 460.43 points.

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Under $0 Crude Futures: Brokerages Move Court Against MCX, Sebi

The petitioners' advocate, Ravichandra Hegde, on Wednesday sought urgent hearing via video conference the next day.

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Two SpiceJet Lessors In Talks To Reclaim Planes Over Dues: Report

SpiceJet is not alone in wrestling with the impact of the coronavirus crisis, which has seen airlines worldwide seeking delays in rent and deliveries or state help.

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Sensex, Nifty Likely To Have A Positive Opening

The benchmark indices are likely to open on a positive note, extending the gains of the previous session, on the back of favourable global cues.

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Gold Futures Jump Nearly 2% To Touch Rs 46,100/10 Grams Mark

Gold Rate Today: At 2:11 pm, the gold futures contract (delivery on June 5) was up by Rs 786 per 10 grams - or 1.73 per cent - at Rs 46,111 per 10 grams.

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Gold Rates Ease As Firm Dollar Offsets Safe-Haven Buying

Gold tends to benefit from widespread stimulus measures from central banks, as it is often seen as a hedge against inflation and currency debasement. Gold may come under pressure in the longer term as...

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Two Indian Refiners Cut Mideast Crude Purchases In May: Report

This is the second consecutive month that Indian refiners have sharply cut imports of term crude supplies

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OYO Cuts India Employees Pay By 25% For 4 Months: Report

The move comes soon after OYO furloughed thousands of its international employees earlier in April after the coronavirus outbreak.

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Oil Shares Continue To Slide As Crude Markets Reel Under Pressure

ONGC and OIL were down more than 7 per cent and 5 per cent, respectively, in afternoon trade

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Heineken Suffers 14% Slide In Beer Sales In March

The second quarter would be worse, with an impact also in the second half of the year

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Rupee Sinks Below 76.87 To Hit New All-Time Low Against Dollar

Analysts say the rupee is likely to remain under pressure amid foreign fund outflows from domestic equities and strength of the dollar overseas.

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Sensex Gains More Than 500 Points; Reliance Industries Spurts 8%

Domestic equity markets are going strong in mid-morning trading, led by stellar gains in index heavyweight, Reliance Industries.

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Reliance Industries Shares Soar More Than 8% On Reliance Jio-Facebook Deal

Facebook bought a 9.9 per cent stake in Reliance Jio, the telecom subsidiary of Reliance Industries for $5.7 billion (Rs 43,574 crore).

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Rupee Tumbles To All-Time Low Of 76.88 Against Dollar

The rupee surpassed its earlier all-time low of 76.87 registered on April 16.

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Sensex, Nifty Open Higher

Facebook bought a 9.99 per cent stake in Reliance Jio for $5.7 billion, making it the largest minority shareholder in Jio Platforms.

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Jio Unit Gets Rs 43,574 Crore Investment From Facebook: 10 Points

Reliance Jio Infocomm, part of billionaire Mukesh Ambani's Reliance Industries group, on Wednesday announced an investment of Rs 43,574 crore in the telecom company's subsidiary, Jio Platforms. The...

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Oil Prices Recover Ground After Plunging To The Lowest Level In History

U.S. oil futures rose more than 20 per cent and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut.

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Markets Are Likely To Open Lower On Weak Global Cues

The SGX Nifty is trading in the red and Asian markets have also registered early losses, taking off from the overnight losses in US markets.

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Sebi Eases Fundraising Rules For Companies As Coronavirus Hurts Deals

The relaxations were applicable to right issues opening on or before March 31, 2021

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Rupee Falls By 30 Paise To End Near Record Low Against Dollar

The rupee weakened against the US dollar on Tuesday amid a turmoil in international crude oil markets and the equity markets back home. Having started the day at 76.79, the rupee moved in a range of...

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ICICI Bank Confirms Exposure To Troubled Oil Trader Hin Leong

ICICI Bank is asking for authorities to impound two vessels operated by Ocean Tankers (Pte) Ltd, a unit HLT, an ICICI source said on Monday.

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Cadila Healthcare Surges As Zydus Explores Drug To Treat COVID-19

Zydus Cadila said that its biological therapy Pegylated Interferon alpha-2b, 'PegiHepTM' can emerge as one of the pathways to treat COVID 19.

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US Oil Price Crash, What Next? Here's What Analysts Say

WTI Crude Oil Price: US West Texas Intermediate crude for May delivery recouped some losses on Tuesday to be just in positive territory, leaving market participants to assess the wider implications.

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RBI Has These 5 Policy Options to Combat Economic Crisis

Reserve Bank of India has already cut interest rates by 75 basis points, injected more than $50 billion of liquidity into the financial system.

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Gold Futures Rise, Return Above Rs 46,000 Per 10 Grams Mark

At 11:10 am, the gold futures contract (delivery on June 5) was up by Rs 283 per 10 grams - or 0.62 per cent - at Rs 45,997 per 10 grams.

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Sensex, Nifty Fall Over 3% As Oil Market Tumbles Amid COVID-19 Fears

The country is grappling with the health crisis and the government has extended the world's largest lockdown to curb the virus spread.

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Oil And Gas Stocks Slip On Crash In Oil Prices Amid COVID-19 Pandemic

Petroleum sector shares: May crude oil price futures settled at minus $37.63 a barrel on Monday, a 306 per cent daily drop.

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Firm Dollar Eases Gold Price, Oil-Led Equity Dip Keeps Losses In Check

Bullion has on occasion moved in tandem with stock markets this year, with recent sharp sell-offs prompting investors to sell precious metals to cover their losses elsewhere.

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Infosys Shares Decline More Than 3% On Drop In Q4 Net Profit

Infosys reported a decline of 3.05 per cent in net profit for January-March period to Rs 4,321 crore, compared to Rs 4,457 crore in previous quarter.

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Rupee Falls By 30 Paise To 76.83 Against Dollar Amid Coronavirus Fears

The rupee started the session at 76.79 in the interbank forex market, and declined to as low as 76.83.

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US Oil Prices Crawl Back To Positive Territory After Record Fall Below $0

West Texas Intermediate (WTI) crude prices - the benchmark for US oil prices - turned negative for the first time in history on Monday as the coronavirus pandemic and resultant lockdowns have...

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Sensex, Nifty Open Sharply Lower

MSCI's broadest index of Asia-Pacific shares outside Japan fell half a per cent. Japan's Nikkei 225 benchmark fell 1 per cent.

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Sensex, Nifty Likely To Open Sharply Lower Today

Asian equity markets followed Wall Street lower. MSCI's broadest index of Asia-Pacific shares outside Japan fell half a per cent. Japan's Nikkei 225 benchmark fell 1 per cent.

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What Is A Negative Crude Future And Does It Mean Anything For Consumers?

The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut

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Crude Oil Claws Back Into Positive Territory After Plunging Below Zero On Coronavirus Fears

U.S. crude oil bounced back into positive territory on Tuesday, after a historic plunge below zero that shocked investors and pushed down stock prices and Asian currencies.

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Economic Advisory Council To Meet Over Public Spending After COVID-19

The meeting will also keep on agenda, the impact of the pandemic on GDP growth

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Infosys Profit Dips Marginally To Rs 4,321 Crore In March Quarter

Infosys' revenue from operations rose 0.76 per cent to Rs 23,267 crore compared with revenue of Rs 23,092 crore in December quarter.

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India Foreign Investment Rules Aimed At China To Include Hong Kong: Report

A substantial part of Chinese investments is routed through Hong Kong given its market expertise and deep pool of liquidity.

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Sensex Ends 59 Points Higher, Nifty Flat At 9,262

Gains in IT, energy and state-run banking stocks were offset by losses in automobile, metal and consumer goods counters.

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Infosys Shares Jump 5% Ahead Of March Quarter Earnings

At 2:59 pm, shares in Infosys traded with a gain of 4.03 per cent at Rs 654.65 apiece on the BSE, outperforming the benchmark S&P BSE Sensex index, which was up 0.25 per cent.

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Larsen & Toubro Unit Wins Over Rs 1,000-Crore Orders

L&T said the "significant" orders bagged by L&T Construction were both within the country and abroad.

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Coronavirus Takes Toll On Global M&A As $1 Billion Deals Disappear

The dearth of mega deals comes as countries across the world have shut down large swathes of their economies as they battle the COVID-19 pandemic.

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Nifty, Sensex Rise On HDFC Bank Boost

gains were limited by losses in other banks and consumer goods stocks amid rising cases of the coronavirus.

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Centre Tweaks FDI Policy To Protect Companies From Hostile Takeovers

Companies located in countries that share a border with India will have to approach the government for investing in India.

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Gold Futures Edge Lower To Trade Near Rs 45,450 Per 10 Grams

Gold Rate In India: At 10:22 am, the gold futures contract (delivery on June 5) was down 0.32 per cent - or Rs 147 per 10 grams - at Rs 45,588 per 10 grams.

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HDFC Bank Gains More Than 3% On Jump In Q4 Net Profit

HDFC Bank on Saturday reported an increase of nearly 18 per cent in net profit for the March quarter, led by strong loan growth.

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Sensex Opens Over 450 Points Higher, Nifty Above 9,350; Earnings In Focus

Some analysts say the markets are pricing in the possibility of a staggered relaxation of the nationwide lockdown.

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Gold Falls On Firm Dollar, Hopes Of U.S. Economy Re-opening

Investors remained optimistic that the U.S. economy might reopen soon from lockdowns that were enforced to contain the novel coronavirus' spread.

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Sensex, Nifty Likely To Have A Cautious Start

The Asian markets are trading lower this morning, with the MSCI's broadest index of Asia-Pacific shares outside Japan easing 0.2 per cent in early trade.

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Rs 36,659 Crore Transferred To 16 Crore Bank Accounts: Finance Ministry

Till April 13, the total number of women beneficiaries was 19.86 crore, the ministry said.

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Markets Gain Some Momentum Last Week, Earnings To Set Tone From Monday

Participants are also hopeful of more stimulus measures from the government to prop up growth amid the coronavirus crisis

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India's Steel Demand Expected To Drop 7.7% in 2020, Says Industry Body

Most steel companies have faced disruptions and suspended operations at some of their plants

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CBDT To Notify Revised Return Forms For Taxpayers By April-End

Last month, the government had extended the March 31 deadline of filing income taxes till June 30

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SpiceJet To Send Select Staff On Leave Without Pay: Report

Earlier, the budget carrier had sent employees on leave without pay from March 25 to 31

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HDFC Bank March Quarter Profit Up 18%

HDFC Bank's net profit for the quarter ending in March rose to Rs 6,928 crore, up from Rs 5,885 crore a year earlier, the company said in a regulatory filing.

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HDFC Bank Finalises Three Candidates To Succeed Aditya Puri, Awaits RBI Nod

Aditya Puri has been the head of the lender since its incorporation 25 years ago and has led it to be the largest and most valuable bank, on the back of a strict hold over asset quality.

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Fuel Demand Falls 50% In First Half Of April On COVID-19 Lockdown: Report

The slump in fuel demand has already forced some refiners to halve crude processing and increase prompt exports of refined fuels.

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Industry Body SIAM Seeks Tax Cut On Automobiles Amid COVID-19 Crisis

Companies want a temporary, 10 per centcut in tax on the sale of all automobiles and auto parts and incentives, in the form of tax rebates, for car owners to scrap their old vehicles, SIAM said.

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Taxman Issues Rs 5,204-Crore Refunds To Small Businesses In 10 Days

These income tax refunds will help MSMEs carry on their business activities without pay cuts and layoffs in the COVID-19 pandemic situation.

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Forex Reserves Soar By $1.82 Billion To $476.5 Billion In A Week

The forex reserves had declined by $902 million to $474.660 billion in the previous week, due to the fall in foreign currency assets.

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Estimates Suggest Global Downturn Deeper Than Great Recession: World Bank

The World Bank has so far financed COVID-19 programmes in 64 developing countries and will have 100 countries underway by the end of April.

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Automakers Seek Tax Cut To Boost Demand After Coronavirus Hit

Companies want a temporary, 10 per cent cut in tax on the sale of all automobiles and auto parts and incentives, in the form of tax rebates.

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COVID-19 Lockdown Cuts Fuel Demand By 50% In First Half Of April: Report

The country's diesel sales by state retailers in the first 15 days of April dropped by 61 per cent from a year earlier.

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Government May Act Out Of Fear, Hold Back In COVID Fight: Rajiv Bajaj

There should be a roadmap for developing herd immunity that taken along with testing will provide a pragmatic middle path out of this lockdown, Mr Bajaj said.

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Gold Futures Fall Over 3%, Below Rs 46,000 Per 10 Grams Mark

At 4:36 pm, the gold futures contract (delivery on June 5) was down 3.09 per cent - or Rs 1,458 per 10 grams - at Rs 45,800 per 10 grams.

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Rupee Rebounds By 48 Paise, Ends At 76.39 Against Dollar

Forex traders said these measures announced by RBI Governor Shaktikanta Das would provide the much needed liquidity and ease the financial stress caused by the pandemic.

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Sensex Nifty, Close Higher For Second Day; Financial Stocks Lead Gains

The Reserve Bank of India cut its reverse repo rate by 25 basis points (bps) in a bid to push banks to deploy excess funds toward lending, just two weeks after it cut the rates by 90 bps.

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RBI's New Measures To Support Financial Markets And Banks

The central bank last month lowered interest rates in an emergency meeting and announced $50 billion of liquidity injections.

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RBI Sees Inflation Falling Below 4% As COVID-19 Outbreak Threatens Demand

Retail inflation fell to four-month low of 5.91 per cent in March over the previous month, mainly due to easing food prices.

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Oh Brother! Coronavirus Calls Split Family Fortunes On Wall Street

Major U.S stock indices have risen between 7 per cent and 12 per cent since the beginning of April.

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In Economic Crisis, What RBI's Big Moves Today Aim At

The central bank kept its benchmark repo rate unchanged at 4.40% after a 75 bps cut last month.

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Sensex Holds 500-Point Lead Led By Gains In Rate Sensitive Stocks

Rate sensitive realty, banking, financial services and auto stocks were witnessing buying interest after the RBI's move to boost lending.

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RBI Gives NPA Classification Reprieve To Moratorium Accounts

The 90-day non-performing assets (NPA) norm will not be applicable on moratorium granted on existing loans by banks.

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RBI Cuts Reverse Repo Rate Amid Coronavirus Crisis

The RBI Governor announced a range of money market operations on Friday.

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India Expected To Post Sharp Turnaround In 2021-22: Shaktikanta Das

This is the second time the RBI Governor addressed the media since the country began the lockdown on March 25.

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RBI Governor Shaktikanta Das Addresses Media Amid Coronavirus Crisis

Today is the second time the RBI Governor is addressing the media since the nationwide lockdown imposed by the Centre to curb the coronavirus pandemic.

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Chinese Economy Posts First Quarterly GDP Fall Due To Coronavirus Crisis

China's economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralysed production and spending

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Coronavirus Crisis: RBI Chief Shaktikanta Das To Address Media At 10 AM

Last month, the RBI cut the cash reserve ratio by 100 bps to 3 per cent apart from announcing various measures to boost liquidity in the system.

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Sensex, Nifty Open Higher

RBI Governor Shaktikanta Das is scheduled to address a press conference at 10 am.

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Gold Poised To Gain For The Second Week On Global Recession Fears

Gold prices inched lower on Friday as Asian equities showed signs of a rebound, but fears of a steep global recession limited a drop in metal's price

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Brent Oil Jumps Nearly 3% After Trump Outlined Three-Stage Process To Ease Coronavirus Restrictions

Trump laid out a three-stage process for ending lockdowns to stop the spread of the coronavirus that has now killed more than 32,000 Americans

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Gap-Up Opening Likely For Sensex, Nifty Today

Analysts say the markets are expected to consolidate with the possibility of bouts of volatility in the near term.

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TCS March Quarter Profit Declines Marginally To Rs 8,049 Crore

Revenue of the Mumbai-based Tata Group company rose to Rs 39,946 crore from Rs 39,854 crore in the previous quarter.

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OPEC Says Oil Market Undergoing 'Historic Shock'

Meanwhile, oil prices rose on Thursday, with US crude rebounding from near-20-year lows in the previous session

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Gold Demand Could Hit 3-Decade Low As Lockdown Hits Festivals, Weddings

Weddings, one of the biggest drivers of gold purchases, usually happen in summer but this year they are postponed due to the lockdown.

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Your SBI Savings Account Balance Now Fetches This Return

The new interest rate for SBI's savings accounts comes within two weeks after the Reserve Bank of Indialowered the repo rate - or the key interest at which the RBI lends funds to commercial banks such...

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Sensex Ends 223 Points Higher As Markets Break 2-Day Fall

Wipro said it would not forecast revenue for the next quarter because of the uncertain market conditions caused by the coronavirus pandemic.

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Health, Motor Insurance Policy Renewal Dates Extended Up To May 15

It is expected that similar extension will be effected for life insurance renewal policy also

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Gold Futures Rise 1% To Top Rs 47,000 Mark Amid Coronavirus

Gold Rate Today: At 2:15 pm, the gold futures contract (delivery on June 5) was up 0.69 - or Rs 320 per 10 grams - at Rs 47,030 per 10 grams.

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Gold Eases On Stronger Dollar, Grim Economic Outlook Caps Losses

Gold prices edged lower on Thursday as the dollar firmed and investors booked profits, but losses were capped as dour retail sales and manufacturing data out of the United States heightened fears of a...

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Sensex Gains Over 100 Points; Energy, Metal, Pharma Stocks Lead Gains

At 11:45 am, the S&P BSE Sensex index was quoting at 30,527, higher by 146 points and the Nifty was at 8,983, up 58 points.

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Merchandise Exports Shrink 35% In March, Steepest Decline Since 1991

In rupee terms, the exports declined 29.98 per cent to 1.59 lakh crore last month.

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Wipro Reports Weak Q4 Numbers And Suspends Guidance; Stock Trades Flat

Wipro reported a net profit of Rs 2,326.1 crore for quarter ended March 31, a decline of 5.29 per cent vis-a-vis previous quarter's Rs 2,455.9 crore.

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Relief On Health, Auto Insurance Policies Due For Renewal During Lockdown

Earlier this week, the government extended a nationwide lockdown to curb the spread of the COVID-19 disease.

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India May See First Contraction In 40 Years On Lockdown Extension

The lengthening of the mandatory stay-at-home period to 40 days from 21 days will result in a direct output loss of more than 8 per cent

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Sensex, Nifty Open Lower

Equities in other Asian markets moved lower, with MSCI's broadest index of Asia-Pacific shares outside Japan last seen trading down 0.6 per cent, and Japan's Nikkei benchmark down 1.3 per cent.

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Global Stocks Slide As Dire Economic Outlook Weighs On Sentiment

Benchmark indexes in Australia, Korea, Hong Kong and Shanghai also posted falls between 0.3 per cent and 1.5 per cent.

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Oil Bounces Back As Rising Stockpiles May Lead To Output Cuts

Oil rose on Thursday on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts

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Sensex, Nifty Likely To Have A Weak Start

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 per cent. In Japan, where a Reuters survey showed most firms feel stimulus measures announced so far are insufficient, the Nikkei...

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Vistara Defers Payments To Some Suppliers To Conserve Cash: Report

In an email to employees, Vistara CEO Leslie Thng said it was of "paramount importance" to do everything possible to conserve cash

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Monsoon Rains Seen Average In 2020, Says Weather Office

The country's weather office defines average, or normal, rainfall as between 96 per cent and 104 per cent of a 50-year average of 89 cm.

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March Exports Shrink, Outlook Grim As Coronavirus Hits Demand

Oil imports, the biggest item in the import bill, fell 15% to $10.01 billion, helped by fall in global crude prices and slowdown in domestic demand.

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Growth May Slip Into Negative In Q1: Former RBI Governor On Lockdown

Perhaps in first quarter of the year, GDP growth may even be negative. But that could be made up by the growth in the next three quarters, he said.

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Nitin Gadkari Holds Talks With Small Industry Members, Assures Help

During the meeting, the representatives raised some concerns related to the industry and also gave suggestions to the minister.

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Wipro Q4 Profit Down Over 5% At Rs 2,326 Crore

Shares in Wipro ended 1.53 per cent lower at Rs186.55 apiece on the BSE, underperforming the benchmark S&P BSE Sensex index which declined1.01 per cent.

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Rupee Slides 17 Paise To Hit All-Time Low Of 76.44 Against US Dollar

Investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak

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Sensex Ends 310 Points Down As Markets Reverse Direction Dragged By Banks

The Sensex crashed 1,346 points from day's highest point and the Nifty 50 index dropped below important psychological level of 8,900.

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Crude Oil Hits 18-Year Low Amid Coronavirus-Fuelled Demand Slump

WTI tumbled to $19.20 per barrel, while Brent North Sea crude was down at $28.38.

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Sensex Slumps Over 1,000 Points From Day's High; Banks Under Pressure

Mid- and small-cap shares were outperforming their larger peers as the Nifty Midcap 100 and Nfty Smallcap 100 indexes were up 2 per cent each.

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Wholesale Inflation Eases To 1% In March

Determined by the Wholesale Price Index (WPI), wholesale inflation is the rate of increase in wholesale prices.

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Sensex Soars Over 800 Points; Financials, Pharma, FMCG Lead Gains

All the NSE sectoral indices were trading in the green, with financials, pharma, FMCG and metal shares leading the gains.

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Gap-Up Opening For Sensex, Nifty

Analysts say volatility cannot be ruled out as investors assess the severity of the rapidly-spreading COVID-19 disease.

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Chinese Economy Contracts For First Time In Decades Due To Coronavirus Crisis: Report

The world's second-largest economy tanked in the first three months of the year as factories closed, consumers were compelled to stay home and the virus spread to other countries.

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Crude Oil Price Rises Over 1% On Hopes For Stockpile Purchases

Warnings of a deep recession by the International Monetary Fund (IMF), however, weighed on investor sentiment.

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Airline Revenues To Plunge 55% In 2020 On Coronavirus: Industry Body IATA

It marks a sharp worsening of the forecast for the aviation industry, as just three weeks ago the decrease was predicted to be 44 percent, or $252 billion.

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Sensex, Nifty Likely To Have A Firm Opening

The Nifty futures were trading at 9,211, higher by 197 points, on the Singaporean Exchange around 07:30 hours IST.

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Banks Issue Orders To Employees Over Branch Overcrowding: Report

Bankers say they are now also being harassed by police for failing to ensure the social distancing required to help curb the spread of coronavirus.

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Pandemic Recovery Will Require More, Coordinated Stimulus, Says IMF

Governments will have to provide even more cash infusions to help the global economy rebound, IMF said

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India Inc Stands By Lockdown Extension Call; Seeks Stimulus Package

Prime Minister Narendra Modi announced that the current lockdown will be extended till May 3.

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India To Grow At 1.9% This Year, Global Growth To Shrink 3%, Predicts IMF

The forecast also mentioned that Asian powerhouses India and China are likely to narrowly avoid recession this year

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Use COVID-19 Crisis As Opportunity To Reform Aviation, Says SpiceJet CMD

Many airlines in India are close to bankruptcy as their cash reserves are running out amid the nationwide lockdown

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Government-Run Gold Bond Scheme To Fetch 2.5% Interest. How To Invest

Typically, gold is viewed as a safety bet, sharing an inverse relation with asset classes such as equities, say wealth planners.

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Government To Issue Sovereign Gold Bonds With Interest Rate Of 2.5%

The bonds will have a tenor of eight years but investors will have the option to exit after the fifth year.

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Gold Futures Soar Over 2% To Reclaim Rs 46,250 Mark Amid COVID-19 Fears

Current Gold Rate: The gold futures contract settled at Rs 46,255 per 10 grams for the day, up 2.12 per cent - or Rs 961 per 10 grams - compared to the previous close.

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Goodricke Group Managing Director Opts For 60% Salary Cut Due To Covid19 Crisis

The company said the cash flow shall be reviewed from time to time to ascertain when the salaries can be reinstated.

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Oil Gains Due to Expected Fall In U.S. Shale Production

A U.S. agency said shale output in the world's biggest crude producer would fall by the most on record in April, adding to cuts from major producers.

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Gold Soars To Over 7-Year High Amid Coronavirus Crisis

Mounting fears of a steeper global economic downturn due to the novel coronavirus increased gold's safe-haven appeal.

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Financial Markets Shut For Ambedkar Jayanti

Prime Minister Narendra Modi would be addressing the nation at 10 am this morning and he is widely expected to announce extension of the lockdown for another 2 weeks

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Amazon To Add 75,000 More Jobs Amid Coronavirus Pandemic

The e-commerce giant now expects to spend over $500 million globally to increase wages for the workers during the pandemic.

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Employees Have To Inform Employers To Opt For New Tax System, Says CBDT

CBDT has, however, said that the employee can change the option of tax structure at the time of filing income tax return

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Ola Starts Non-COVID-19 Related Travel Emergency Cab Service In Gurgaon

Users can select the "Ola Emergency'' category on the Ola app and enter the drop location from a list of available hospitals in the city.

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Retail Inflation Could Slow Further Going Ahead: Experts

The annual retail inflation eased to a four-month low of 5.91 per cent in March from 6.58 per cent in the previous month.

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India's 2019-20 Fuel Demand Growth Worst In Over Two Decades

Due to restrictions on movement and travel advisories, the country's consumption of diesel, petrol and aviation turbine declined massively during March.

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March Retail Inflation Slows To 5.91% On Back Of Lower Food Prices

Consumer inflation has remained above the Reserve Bank of India's medium-term target for six months in a row.

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As Oyo Struggles To Survive COVID-19, Another Blow For Investor Softbank

SoftBank had booked profits on Oyos rising valuation and may now be forced to take losses on the investment

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Sensex Ends 470 Points Lower, Nifty Gives Up 9,000

Sentiment was also hit by a more than $1 a barrel jump in oil prices after top producers agreed to their biggest-ever output cut.

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Operations At Three Ports Run By Adani Ports Disrupted: Report

There was no truck movement at three Adani ports in Mundra, Dahej and Tuna in Gujarat, the sources said.

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Domestic Passenger Vehicle Sales Down 51% In March: Industry Body SIAM

The sales data comes as an already-battered auto sector struggles against weak demand due to the fallout from the coronavirus pandemic.

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Sensex Falls Over 500 Points; Reliance Industries, HDFC Bank Top Drags

Reliance Industries, HDFC Bank, HDFC, Bajaj Finance and Kotak Mahindra Bank were among the top drags on the Sensex.

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What RBI Just Observed About COVID-19 Impact On Economy

The RBI in late March cut its main short-term lending rate by a larger than expected 75 basis points and took several measures to infuse liquidity in to the banking system to counter the economic...

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Oil Rates To Continue To Fall, Historic Deal Insufficient: Goldman Sachs

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, said they had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June to...

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Sensex Off Day's Lows, Down 250 Points; Nifty Reclaims 9,000

At 12:00 pm, the Sensex had recouped around 400 points from intra-day low of 30,754.15 and was quoting at 30,911, lower by 251 points or 0.7 per cent

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HDFC Slips More Than 1% After Stake Hike By China's Central Bank

The People's Bank of China increased its stake in HDFC to 1.01 per cent from 0.8 per cent in the March quarter, the mortgage lender said on Saturday.

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China Central Bank Raises Stake In HDFC To Over 1%

A selloff in broader markets over fears of the economic fallout from the coronavirus pandemic wiped out over 25 per cent off the mortgage lender's stock value in March.

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Rupee Edges Lower To 76.43 Against Dollar Amid Coronavirus Crisis

The rupee was last seen trading at 76.40 - down 11 paise from the previous close - against the greenback.

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Sensex, Nifty Open On A Mixed Note

Last Friday, the Sensex had ended 4.23 per cent higher at 31,159.27 and the Nifty settled up 4.15 per cent at 9,111.90, marking the first weekly gain for both the indices after seven consecutive...

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Gold Succumbs To Profit-Booking, But Economic Downturn Fears Limit Losses

Investors booked profits after prices hit a one-month high last week, while worries over steeper global economic downturn limited bullion's losses.

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OPEC, Russia Approve Record Oil Supply Cut Amid Coronavirus Pandemic

Measures to slow the spread of the coronavirus have destroyed demand for fuel and driven down oil prices, straining budgets of oil producers and hammering the US shale industry.

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Sensex, Nifty Likely To Open Lower

The Asian markets have opened on a weak note post the extended weekend and Earli SGX trading also suggests a negative opening for the Indian bourses.

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People's Bank Of China Acquires 1% Stake In HDFC

During the past one month the stock prices of HDFC fell over 25 per cent amid the beating across stocks

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World Bank Forecasts Worst Economic Slump In South Asia In 40 Years

The region, comprising eight countries, is likely to show economic growth of 1.8 per centto 2.8 per centthis year

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Official Consumer Inflation Data For March Due On Monday. What To Expect

Official data on consumer inflation - or the rate of increase in consumer prices - for the month of March is due on Monday. Many economists expect retail inflation to ease from 6.58 per cent in...

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EPFO Sets Up Mechanism To Credit Provident Fund Accounts Amid COVID-19

The labour ministry said eligible organisations can claim the relief by filing an electronic challan-cum-return (ECR).

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US Consumer Prices Record Largest Drop In Five Years

Economists polled by Reuters had forecast the CPI dropping 0.3 per cent in March and climbing 1.6 per cent year-on-year.

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Banks Ask Clients To Be Cautious Against Frauds While Opting Moratorium

Country's largest lender State Bank of India said, "Please note that EMI deferment does not require OTP sharing. Do not share your OTP."

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Travel, Hospitality To Take Time To Recover Post Lockdown: Experts

Pharma, medical and health equipment and digital companies are among those which have seen a jump in their business following the COVID-19.

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ICICI Bank To Deploy Mobile ATM Vans In Noida, Other Districts In UP

The bank said it has already deployed mobile ATM vans at certain residential societies in the National Capital Region (NCR).

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Coronavirus Crisis: 1.37 Lakh PF Withdrawal Claims Settled Within 10 Days

Employees Provident Fund Organisation has disbursed an amount of Rs. 279.65 crore under a new provision specially formulated by amending EPF Scheme

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2.5 Million Jobs In U.S. Could Be Lost Through 2021, Survey Suggests

A panel of top business economists sees high joblessness persisting for more than a year, dousing hopes for a quick return to normal.

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Nearly 17 Million In US File For Unemployment In 3 Weeks Amid Coronavirus

Thursday's weekly jobless claims report from the Labor Department strengthens economists' expectations of job losses of up to 20 million in April.

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Financial Markets Shut For Good Friday

India enters the seventeenth day of a 21-day ongoing nationwide lockdown meant to curb the rapid spread of coronavirus.

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Saudi, Russia Outline Record Supply Cut As Demand Crashes On COVID-19

Officials from the Organization of the Petroleum Exporting Countries and Russia have said the scale of the crisis required involvement of all producers.

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Fed Rolls Out $2.3 Trillion Towards Small Businesses, Local Governments

The Fed said it would work through banks to offer four-year loans to companies of up to 10,000 employees

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Emerging-Market Index Shake-Out May Follow Trading Turmoil

FTSE Russell decided last month to split the scheduled March inclusion of China A-shares and Saudi Arabian stocks into its emerging market index.

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Gold Futures Edge Higher To Rs 45,300/10 Grams

Gold Rate Today: The gold futures contract (delivery on June 5) settled at Rs 45,302.00 per 10 grams for the day, up 0.80 per cent - or Rs 361 per 10 grams - compared to the previous close.

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Gold Gains Nearly 1% On Safe Haven Demand Amid Coronavirus Crisis

Gold has, on occasion, risen in tandem with equity markets recently, with wider market selloffs also seeping into precious metals as investors covered losses elsewhere.

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Rural Income Not Supported By MNREGA: RBI In Monetary Policy Report

Lower agriculture prices, slowdown in construction sector and below-average performance of MGNREGA programme have affected the rural sector.

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February Factory Output Rises 4.5%, Beats Analysts' Expectations

Cumulative growth in April-February over the corresponding period of the previous year was 0.9 per cent, the data showed.

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World Faces Worst Economic Fallout Since Great Depression, Says IMF Chief

Even in the best case the IMF expects only a "partial recovery" next year, assuming the virus fades later this year

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Cognizant Withdraws 2020 Forecast On Coronavirus Uncertainty

Cognizant said reduced client demand, primarily in the travel and hospitality industries, also impacted its business.

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Sensex Closes 1,266 Points Higher, Nifty Reclaims 9,100

The Sensex ended 1,265.66 points - or 4.23 per cent - higher at 31,159.62, and the Nifty settled at 9,097.75, up 349.00 points - or 3.99 per cent - from the previous close.

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India's March Fuel Consumption Falls 18% As Coronavirus Dampens Demand

Petroleum product consumption fell 17.79 per cent to 16.08 million tonnes in March

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Coronavirus Has 'Drastically Altered' India Growth Outlook, Says RBI

India's economy expanded at its slowest pace in more than six years in the last three months of 2019 and was projected to clock in full-year growth of 5% which would be the lowest in over a decade.

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UN Report Projects India's 2020-21 GDP At 4.8% On COVID-19 Impact

The report said COVID-19 is having far-reaching economic and social consequences for Asia-Pacific region

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Economy Needs $200-$300 Billion Stimulus To Fight COVID-19: Assocham

Of the corpus, $50-100 billion needs to be infused in the system over the next three months to help businesses and workers, Deepak Sood said

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COVID-19 To Impact Economic Activity Directly Due To Lockdowns: RBI

The impact of COVID-19 on inflation is ambiguous, with a possible decline in food prices likely to be offset by potential cost-push increases in prices of non-food items due to supply disruptions,...

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Virus Crisis A Chance For India To Reform Its Economy, Say Some Experts

India is facing its biggest crisis in decades, with a three-week lockdown in a nation of 1.3 billion people likely to result in economic recession, millions of job losses and possible starvation among...

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Rupee Edges Higher To 76.11 Against Dollar

Traders said investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.

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Consumer Inflation Likely Fell To Four-Month Low In March: Poll

Softer inflation would give the RBI reason to cut borrowing costs further but some economists do not expect that to be the driver of policy for now.

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Oil Demand Slumps 70% In India, 3rd-Biggest Buyer, Amid Lockdown

The estimate for the current demand loss is a stark reminder of the challenge facing oil producers as they haggle over a deal to cut supply and prop up the global energy industry.

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Tax Breaks, Incentives For COVID-19-Hit Small Businesses Likely Next Week

The three-week shutdown due to end on April 14 has brought non-essential consumption in the nation of 1.3 billion people to a standstill, which has severely impacted cash flows of the so-called...

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Sensex Opens Over 650 Points Higher, Nifty Above 8,950

Analysts say the markets are likely to remain volatile in the short term as investors weigh the emergency measures deployed by policymakers against the deadly COVID-19 pandemic.

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Gold Inches Up On Weak Dollar, Pandemic Peaking Hopes Cap Gains

Gold prices rose slightly on Thursday ahead of a U.S. weekly jobless claims report as the dollar inched lower, while increasing appetite for risk on hopes that the new coronavirus pandemic is nearing...

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Asian Stocks Rise On Hopes Virus Pandemic May Be Reaching Its Peak

Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures

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Sensex, Nifty Likely To Open Higher

Shares in China, where the novel coronavirus first emerged late last year, rose 0.54 per cent.

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Rs 1 Lakh Crore Coronavirus Package On Cards For Small Businesses: Report

Last month, India outlined Rs 1.7-lakh crore ($22.6-billion) economic stimulus plan providing direct cash transfers and food security measures.

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All Pending Income Tax Refunds Up To Rs 5 Lakh To Be Released Immediately

All pending income tax refunds up to Rs 5 lakh to be released immediately, about 14 lakh taxpayers to benefit

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OECD Says Leading Indicators Flag Biggest Monthly Drop On Record

The OECD estimated that each month major economies spend in lockdown knocked 2 percentage points off their annual growth.

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Bond Investors To Test India's Yield Comfort In First Auction Of Year

Yields on 10-year bonds have climbed nearly 50 basis points, to around 6.44 per cent, since late March.

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Sensex Ends 173 Points Lower, Nifty At 8,749 As Virus Fears Linger

The National Stock Exchange's India VIX index - which gauges the expectation of volatility in the near term - climbed up as much as 3.73 per cent during the session.

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Rupee Depreciates, Sinks Below 76 Against Dollar Amid Coronavirus Crisis

Rupee Vs Dollar (INR Vs USD) Today: At this level, the rupee is down 6.98 per cent against the dollar so far this year.

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SBI Cuts Interest Rates On Savings Deposits By 0.25%

In May last year, SBI had linked its large savings deposits rates to the RBI's repo rate.

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Sensex Plunges Over 1,300 Points From Day's High, Nifty Below 8,800

Rising cases of deadly coronavirus (COVID-19) continue to dampen the investor sentiment, analysts said.

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Gold Price Today: Gold Futures Fall, Slip Below Rs 44,700 Mark

Gold Rate Today: At 12:08 pm, the gold futures contract (delivery on June 5) traded at Rs 44,780.00 per 10 grams, down Rs 301 per 10 grams (0.67 per cent) compared to the previous close.

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Latest On The Spread Of The Coronavirus Around The World

Reported cases have surpassed 1.38 million globally and nearly 81,451 people have died, according to a tally by news agency Reuters.

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Rupee Edges Lower To 75.85 Against Dollar

The rupee opened weak at 75.83 at the interbank forex market and then fell further to 75.85, down 21 paise over its last close.

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Gold Holds Steady Amid Virus Worries, Stronger Dollar Weighs

Gold prices held steady as a stronger dollar countered risk-off sentiment stemming from fading optimism over signs of a slowing spread of the new coronavirus amid rising deaths.

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Sensex, Nifty Turn Positive Amid Choppy Trade As Coronavirus Fears Linger

The weakness came a day after Sensex and Nifty posted their biggest single-day gain since 2009 tracking global peers.

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Sensex, Nifty Turn Flat Amid Choppy Trade As Global Markets Lose Steam

The weakness came a day after Sensex and Nifty posted their biggest single-day gain since 2009 tracking global peers.

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Oil Prices Jump On Hopes For OPEC, Russia Meeting On Output Cuts

Oil was lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices

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Sensex, Nifty Likely To Open Weak On Negative Global Cues

The Nifty futures were trading at 8703.50, weaker by 159.5 points, on the Singaporean Exchange around 07:30 hours IST.

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Small Businesses Struggle To Pay Wages Amid Coronavirus Lockdown

India's nationwide lockdown, set to end April 14, has left millions of migrant workers stranded without any other source of income.

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SBI Slashes Lending Rates Across All Tenors By 0.35%, EMIs To Get Cheaper

One-year MCLR will come down to 7.40 per cent per annum from the existing 7.75 per centfrom April 10

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Sensex, Nifty End 9% Higher To Break Two-Day Fall

Analysts say volatility cannot be ruled out as investors assess the impact of the coronavirus pandemic on global economy.

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Gold Falls 1% As Hopes Of Slowing Coronavirus Spread Boost Stocks

Spot gold was down 0.3 per cent at $1,657.50 per ounce by 2:30 pm

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Gold Futures Touch Rs 45,700 Mark Amid Coronavirus Fears

Gold Price Today: At 2:46 pm, the gold futures contract (delivery on June 5) traded at Rs 45,016 per 10 grams, up Rs 1,294 per 10 grams (2.96 per cent) compared to the previous close.

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Hindustan Unilever Market Value Tops Rs 5 Lakh Crore For First Time

FMCG and pharma shares have been witnessing buying interest ever since the 21-day lock down was announced by Prime Minister Narendra Modi.

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State Governments Scramble For Funds As Coronavirus Takes Toll On Coffers

States are slashing salaries, demanding an increase in borrowing limits and asking for fund transfers from Centre

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Sensex Jumps Over 1,700 Points As Pharma, Financial Stocks Lead Gains

The pharma index soared by 10.2 per cent after the government lifted export restrictions on 24 drugs, which were imposed last month.

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World's Biggest Lockdown Brings Trucks To A Standstill In India

Daily movement of trucks has collapsed to less than 10 per cent of normal levels, according to All India Motor Transport Congress

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Rupee Rises 26 Paise To 75.87 Against US Dollar Tracking Positive Equity Market Cues

At the interbank foreign exchange the rupee opened at 75.92, then gained ground and touched 75.87, registering a rise of 26 paise over its previous close.

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Employment Rate Hits All-Time Low In March: Think-Tank CMIE

India's labour participation rate crashed to an all-time low in March, marking a steep fall compared to January, Mumbai-based think-tank Centre for Monitoring Indian Economy (CMIE) said on Tuesday....

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Sensex, Nifty Open Higher Amid Gains In Global Markets

Analysts say volatility cannot be ruled out as investors assess the impact of the coronavirus pandemic on global economy.

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Sensex, Nifty Poised to Open Higher On Positive Global Cues

The Nifty futures were trading at 8,508, higher by 179 points, on the Singaporean Exchange around 07:30 hours IST.

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IMF Encouraged By Recovery In China, But Pandemic Could Resurge

IMF economists said the pandemic caused by the new coronavirus had pushed the world into a recession that would be worse than global financial crisis.

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Infosys COO UB Pravin Rao Takes Over As Nasscom Chairman

Mr Rao, the new Chairman of the body, joined Infosys in 1986, according to the company's website, and has held a number of senior management roles. He was also made the interim CEO and Managing...

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Gold Rises More Than 1% As Coronavirus Fuels Global Slowdown Fears

The pandemic has infected more than a million people, killed over 68,000 and prompted countries to extend lockdowns to curb its spread, paralysing large swathes of the global economy.

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March Gold Imports Hit 6-1/2-Year Low On Record Price: Report

The world's second biggest consumer of the precious metal imported 25 tonnes of gold in March, down from 93.24 tonnes a year ago.

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Gold Imports Slump 73% In March To Lowest In Over 6 Years: Report

In value terms, March imports dropped nearly 63 per cent to $1.22 billion, he added.

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Public Provident Fund: From April 1, Interest Rate Cut To 7.1% From 7.9%

PPF Interest Rate: A Public Provident Fund account can be set up at designated branches of post office and commercial banks for a lock-in period of 15 years.

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Sukanya Samriddhi Savings Scheme Pays 7.6% Return From This Month

That stands 80 basis points (0.80 percentage point) lower compared to the interest rate of 8.4 per cent the scheme yielded in the quarter ended March 31.

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Mukesh Ambani's Net Worth Drops To $48 Billion Amid Coronavirus Crisis

The chairman and managing director of the diversified Reliance Industries saw his wealth decline to $19 billion.

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From April 1, Recurring Deposit Small Savings Scheme Fetches 5.8% Return

From April 1, the government has lowered the interest rates applicable to most small savings schemes by up to 140 basis points (1.4 percentage point).

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India's Services Activity Hits 5-Month Low Amid Coronavirus: Survey

That mirrors a sharp deceleration in global activity as the coronavirus pandemic paralyzes economies, with evidence mounting that the world is sliding into recession.

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Aadhaar Valid For Change In Provident Fund Account Birth Record: EPFO

On Monday, India entered the 13th day of a 21-day countrywide lockdown imposed by the government to fight the coronavirus pandemic.

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Oil Declines Over $1 As Delayed OPEC+ Meeting Causes Oversupply

The world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets

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Financial Markets Shut For Mahavir Jayanti Holiday

This is a three-day trading week as the markets will also assume a holiday on April 10 for Good Friday. The spread of the deadly virus has battered the markets around the globe, as investors assess...

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Air Deccan Ceases Operations, All Employees On ''Sabbatical Without Pay''

Regional airliner Air Deccan announced on Sunday that it is ceasing its operations until further notice and all employees are being put on sabbatical without pay

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Government Reassures Public Sector Banks Of Capital Infusion: Report

The government may need to make a provision of at least Rs 20-25,000 crore for capital infusion in state-run banks. However, this number can increase significantly as the situation evolves, the...

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FPIs Pull Out Record Rs 1.1 Lakh Crore In March Amidst Covid-19 Mayhem

FPIs pulled out a net Rs 61,973 crore from equities and Rs 56,211 crore from the bond market in March, taking the cumulative net outflow to Rs 1,18,184 crore.

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Amazon In Contact With Test Makers For Potential Screenings On Employees

The chief executives of Abbott Laboratories and Thermo Fisher Scientific Inc have told Amazon they would like to work with the e-commerce company, though the US government is taking up all of their...

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Panic Buying Could Impact Global Food Supply Chain: United Nations Arm

United Nations agency World Food Programme (WFP) said global markets for basic cereals are well-supplied and prices generally low.

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Fitch Sees India GDP Growth In FY21 At 2%, Slowest Since Economic Reforms

India may post GDP growth of 2 per cent in financial year 2021, the slowest pace since the economy was liberalised 30 years ago.

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US Employment Falls 701,000 In March Amid Coronavirus

March recorded worst job loss since March 2009 during the depths of the global financial crisis.

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No Change In Basic Selling Price Of Petrol, Diesel: Indian Oil

Indian Oil has announced that oil marketing companies (OMCs) have made no change in the basic selling price of petrol and diesel.

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Gold Futures Cool Off After Surge To Rs 45,800 Ahead Of Expiry

Gold Price Today: The gold futures contract for (delivery on April 3) cooled off to settle with a gain of Rs 293 per 10 grams (0.68 per cent) at Rs 43,650 per 10 grams.

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Gold Prices Subdued On Firm Dollar Ahead Of US Data Amid Virus Crisis

Safe-haven gains for the US dollar limited gold's advance, with the dollar index edging towards a 2 per cent weekly rise as global recession fears intensify.

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RBI Changes Timings For Currency, Debt Markets From Next Week

Changes in timings of currency and debt markets come after the timings of commodity derivatives were revised last month.

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Sensex, Nifty Extend Losses To Second Day Amid Rising Coronavirus Cases

Analysts say investors are still on the back foot amid the rising cases of the coronavirus pandemic in the country.

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Sensex, Nifty Stage Mild Recovery; FMCG, Pharma Shares Gain, Banks Fall

Eight of 11 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Private Bank index's 3.5 per cent drop.

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SBI Warns Employees Of Action Over Social Media Posts Against Bank

State Bank of India had denied reports last week that major banks in the country were shutting down most branches to protect their staff from coronavirus

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India's Place In Global Markets Is At Stake In Virus Response

How the government handles the coronavirus could prove influential in determining India's appeal once the current global market turmoil subsides.

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Rupee Drops Below 76 Mark Against Dollar Amid Coronavirus Crisis

Resuming trade after two holidays, the rupee slid below the 76 mark against the dollar on Friday as the country entered the tenth day of a 21-day lockdown to curb the spread of the coronavirus...

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Rupee Depreciates To 76.08 Against Dollar Amid Coronavirus Scare

Forex markets in India remained closed on April 1 and April 2 for the annual closing of banks and Ram Navami respectively.

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Coronavirus-Induced Weakness In Rupee To Linger In Near Term: Poll

The rupee's path will largely depend on how successful the government's steps are in containing the spread of COVID-19 in a country of more than 1.3 billion people.

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Sensex, Nifty Open Higher

Analysts say investors are still on the back foot amid the rising cases of the coronavirus pandemic in the country.

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India's Economic Growth To Slow Down To 4% In FY21:Asian Development Bank

Growth in India will remain subdued after the country suffered a sharp slowdown last year, from 6.1 per cent in fiscal 2019 to 5 per cent

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US Stock Markets End Over 2% Higher After Jump In Crude Oil Prices

The S&P energy index, down more than 50 per cent this year due to the Russia-Saudi price war and coronavirus-driven demand worries that has caused oil prices to plunge, climbed 9.08 per cent.

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Gold Price Spikes As US Joblessness Data Lifts Safe-Haven Demand

The pandemic has infected nearly 1 million people across the world and killed over 50,000 and forced countries to ensure restrictions and lockdowns to combat the outbreak.

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Markets Set To Open Weak

The Nifty futures were trading at 8227, lower by 46 points, on the Singaporean Exchange around 07:30 hours.

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Saudi Arabia Seeks Urgent OPEC+ Meeting To Stabilise Oil Market

Saudi's announcement drove oil prices as much as 25 per cent higher on Thursday, adding to growing signs that Riyadh and Moscow may be ready to end their battle for market share and cooperate again,...

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British Airways In Talks With Union To Suspend Around 32,000 Staff: Report

The British flag carrier is nearing agreement on a deal to suspend around 80 per cent of its cabin and ground crew, engineers and office staff.

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Unions Seek Government's Intervention To Prevent Job Losses, Pay Cuts

Trade unions on Thursday sought Labour Minister Santosh Gangawar's intervention at the ground level to stop retrenchment of employees and salary cuts and also demanded an income support scheme for...

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Senior Citizen Savings Scheme (SCSS) No Longer Pays 8.6% Interest Rate

From April 1, the government has lowered the interest rates applicable to most small savings schemes by up to 140 basis points (1.4 percentage point).

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Here's How Much Interest You Earn On Your Fixed Deposit In Post Office

Time Deposit Small Savings Scheme Interest Rate: From April 1, the interest rates on most small savings schemes have been cut by up to 140 basis points.

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Kisan Vikas Patra Interest Rate Cut To 6.9%, Maturity Period Extended

Kisan Vikas Patra (KVP Interest Rate: From April 1, the government will pay interest at a rate of 6.9 per cent, instead of the existing 7.9 per cent.

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Air India Suspends Contracts Of Around 200 Pilots Amid COVID-19: Report

The national carrier has already cut the allowances of all employees, except cabin crew, by 10 per cent for the next three months.

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Property Prices Face Steep Falls As Virus Freezes Market

The country's nine major residential markets have unsold units worth some Rs 6 lakh crore, according to a report in January by PropTiger.

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World Economy Could Shrink By Almost 1% In 2020 Due To Covid-19: United Nations

The world economy may contract even further if restrictions on the economic activities are extended without adequate fiscal responses, UN warned.

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Petrol Sales Drop 17% In March, Diesel Down 26% Amid Lockdown: Report

State companies - Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum - own about 90 per cent of the country's retail fuel outlets.

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Coronavirus Crisis: Factory Activity Growth Hits 4-Month Low, Says Survey

A 21-day nationwide lockdown, which started on March 25 in the world's second most populous country, is expected to deliver a heavy shock to the economy despite massive fiscal and monetary support...

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Coronavirus Impact: Hoteliers Witness Revenue Loss Of 90%

Sources suggest that no job losses have been announced thus far, but most hotels are likely to do an impact analysis once the situation normalises.

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Financial Markets To Remain Shut On Thursday For Ram Navami

Ram Navami (April 2) Market Holiday: The equity, currency and commodity markets will also remain shut on three more days this month, on account of Mahavir Jayanti on April 6, Good Friday on April 10...

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Tata Steel Cuts Production In India On Coronavirus Hit

Tata Steel has begun scaling down production at facilities in four major cities, including at its flagship plant in Jamshedpur.

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Coal India's Annual Output Falls For First Time In Two Decades

The world's largest coal miner produced 602.1 million tonnes of coal during the fiscal year ended March 2020, compared with 606.9 million tonnes in 2018/19.

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Many Airlines At Brink Of Bankruptcy: Industry Body To Finance Minister

Among many demands, industry body has called for bringing aviation turbine fuel under the ambit of GST.

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Investor Wealth Erodes Rs 3.20 Lakh Crore On First Trading Day Of FY21

Investors'confidence is continuously being impacted due to mounting fear of global recession, rising cases of COVID-19 and weak macros, analysts said

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March GST Collection Falls To Rs 97,597 Crore Amid Coronavirus Outbreak

For the full financial year, 2019-20, the GST for domestic transaction has shown a growth rate of 8 per cent over the revenues during last year.

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Gold Rises Over 1% On Flight To Safety Driven By Coronavirus Fears

Gold is considered an attractive investment during times of political or economic uncertainty. It is highly sensitive to interest rates, as lower rates reduce the opportunity cost of holding the...

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Gold Rises Over 1% On Flight To Safety Driven By Coronavirus Fears

Gold is considered an attractive investment during times of political or economic uncertainty. It is highly sensitive to interest rates, as lower rates reduce the opportunity cost of holding the...

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Deadline To Submit Bid For Air India May Be Extended For Second Time

The government is likely to extend the April 30 deadline to bid for Air India as the Covid-19 fallout has disrupted economic activities globally, an official has said.

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After Pay Cut, GoAir Partly Defers March Salary Payment To April

GoAir had introduced a pay cut for all employees on March 25 as the coronavirus pandemic drastically impacted the aviation sector

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Sensex Slumps Over 1,200 Points On First Day Of Financial Year 2021

Infosys, HDFC Bank, Kotak Mahindra Bank, Tata Consultancy Services, Reliance Industries and ICICI Bank were among the biggest drags on the Sensex. They collectively wiped out our 650 points from the...

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Loan Moratorium Benefit Unlikely As Banks To Charge Interest Later

The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by...

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Only 5% Of 90 Lakh Trucks Operating; Logistics Hit, Says Truckers' Body

Many drivers have either abandoned trucks and went to native places, or have moved to stay put at places where basic amenities like food and shelter are available.

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Government Begins Fiscal Year Under Severe Strain Amid Biggest Lockdown

A prolonged slowdown in the economy depressed tax collections in the financial year that ended Tuesday, latest official data show.

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Maruti Suzuki March Sales Plunge Nearly 50% Amid Coronavirus Outbreak

Maruti Suzuki's sales of mini and compact segments comprising of cars such as WagonR, Swift, Celerio, Ignis, Baleno and Dzireslumped 43.1%.

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ICICI Bank Allows Customers To Defer EMI Payments By 3 Months

Private lender ICICI Bank on Wednesday, in an official statement, allowed its customers to delay payments of active loan EMIs, for a period of three months

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RBI Announces More Measures To Deal With Economic Fallout Of Covid-19

The Reserve Bank of India (RBI) on Wednesday announced more measures, including extension of period for realisation and repatriation of export proceeds, to deal with the economic fallout of Covid-19...

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Non-Subsidised LPG Price Cut By Rs 61.5-65 Per Cylinder In Metros

Currently, the government subsidises 12 cylinders of 14.2 kilograms each per household in a year. The consumer has to make any additional purchases at the market price.

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4 State-Run Banks In Place Of 10 From Today As Mega Merger Takes Effect

The government's mega merger plan to strengthen the financial system came into effect on Wednesday,combining 10 state-run banks into four. Announced in August last year, the merger combines Punjab...

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Sensex Slumps 700 Points, Nifty Breaks 8,400 As Financial Stocks Drag

At 10.28 am, the Sensex was at 28,687, weaker by 780 points or 2.5 per cent and the Nifty was at 8,380, down 212 points or 2.5 per cent.

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Coronavirus Lockdown May Hurt Government's Plan to Sell Record Bonds

The government on Tuesday said it will sell Rs 4.88 lakh crore ($64.5 billion) of bonds in the six months to September. While the number is less than what the market expected, the auctions may get...

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Oil's Unparalleled Demand Crash Likely To Be Gamechanger For Industry

Goldman sees around 20 million barrels a day flowing into storage in April, while IHS Markit expects the world will run out of space to store oil by the middle of the year.

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Government Promulgates Ordinance To Make PM Cares Donations Tax Free

The ordinance amends a provision in the Income Tax Act to allow 100 per cent deduction on donations to the PM-CARES Fund.

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Indian Banks Association Answers All Questions About Loan Moratorium

Last week, the Reserve Bank of India announced a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities,

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Interest Rates Cut For PPF, 7 Other Small Savings Schemes

Currently, the Ministry of Finance offers nine types of small saving schemes, including Public Provident Fund (PPF), Kisan Vikas Patra and Sukanya Samriddhi.

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Markets Set To Open Lower

Asian shares faced another leg lower on Wednesday as the coronavirus sharply slows global growth, leading a gauge of world stocks to post its biggest quarterly decline in more than a decade and oil...

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