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West Bengal govt not allowing trains with migrants to reach state; Shah writes to Mamata

Shah said migrant workers from West Bengal are also eager to reach home and the central government is also facilitating the train services.


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COVID-19 recovery: Govt issues new guidelines for discharging patients; check details

The Ministry of Health and Family Welfare has come up with some revised guidelines for discharging patients from healthcare facilities.


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Entire family to be home-quarantined if one breaches seclusion rules

In Himachal around 90,000 persons returned home from other states on passes issued by state government in the past one week and another 20,000 plus are waiting to enter the state.


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AIIMS director rushes to Gujarat after sharp rise in COVID-19 cases, fatalities

Following directions from the Centre, Dr Guleria, who is a pulmonologist, and Dr Manish Soneja from the AIIMS department of medicine left for Ahmedabad.


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Record single-day spike of 21 cases push Jharkhand COVID-19 tally to 153

Since the outbreak of the pandemic on March 31 in the state, two persons have died of the infection while one COVID-19 patient died due to underlying health condition after testing negative.


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Jio offers new top-ups, annual plans with cheaper, additional data

Mobile subscribers get access to 4G data at a price as low as Rs 3.5 per GB but if the floor price is fixed as demanded by telecom operators, the mobile internet prices will rise 5-10 times from the current level.


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Why Xiaomi didn’t talk about its software quirks during Mi 10 5G India launch

Why did Xiaomi not talk about one of Mi 10 5G’s biggest highlights at launch, or after? The reason is simple.


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Time spent on smartphones rose 16% during April 25- May 1, 2020: BARC-Nielsen report

Social networking, gaming and education apps recorded the highest growth


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Mukesh Ambani in no mood to rest; trying to get more investors for Jio, talks on with rich Saudi wealth fund

Saudi Arabia’s $320 billion sovereign wealth fund is exploring a potential investment in Reliance Industries Ltd.’s digital unit.


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COVID-19 cases mount to 6,318; death toll rises to 68 in Delhi

An order has been issued regarding appointing representatives of the Delhi chief minister at COVID testing centres to manage and resolve individual grievances of patients and medical staff.


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Income Tax Exemption: Donation to Shree Ram Janambhoomi Teertha Kshetra in Ayodhya to get 80G benefit!

The notification says that the Teerth Kshetra is a place of historic importance and a place of public worship of renown for taxation purposes.


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Five more test positive for COVID-19, total tally in Assam reaches 58

GMCH has been closed for new patients and 386 people, including its Superintendent Dr R Talukdar, doctors, students and several grade three and four workers, have been quarantined.


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Got drug controller nod for Favipiravir’s clinical trial on COVID-19 patients: CSIR DG

The CSIR has already tied up with Cadila Pharmaceuticals Ltd to evaluate Mycobacterium W (Mw) for faster recovery of hospitalised COVID-19 patients and minimise the spread of disease.


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Flights from Riyadh, Bahrain carrying stranded Indians reach Kerala

The passengers were subjected to thermal test at the aerobridge itself before allowing them to undergo customs and immigration checks, Kozhikode airport sources said.


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Indian equities gain on strong global cues

The markets after witnessing strong volumes on Thursday rose on thin volumes on Friday with the F&O segment on the NSE witnessing a turnover of Rs 5.7 lakh crore against the six month average of Rs 14.2 lakh crore.


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NIIT Technologies Rating: Add; Execution stood out in a challenging scenario

Recovery is expected in Q2; upgraded to ‘Add’ given recent correction and other positives; TP cut to Rs 1,310.


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Bharat Biotech to lead monoclonal antibodies project for Covid-19 therapy

This project brings together National Centre for Cell Science (NCCS), Pune; Indian Institute of Technology, Indore, and Gurgaon-based PredOmix Technologies in a collaborative mode for a public health emergency.


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Pharma exports fail to meet FY20 target due to curbs

Drug formulations and biologicals, which contribute to almost 72% of exports, have shown 9.5% growth in FY20. However, export of bulk drugs and drug intermediates posted negative growth.


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Country’s wireless subscriber base sees marginal rise in January to 1,156 million

In terms of wireless broadband subscribers, Jio is on top with 376.57 million users, followed by Airtel with 142.34 million subscribers and Vodafone Idea with 117.93 users.


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Oil in turmoil: Need to ensure that our oil sector continues to contribute to national economy

Building the infrastructure for a low carbon future will require oil. While a long term decline for oil’s central place in energy use seems inevitable, we need to ensure that our oil sector continues to contribute to the national economy


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Ease labour laws now: UP gets it right, but relaxation must become permanent

Just to have employment levels rise meaningfully—let alone goals such as playing host to companies moving out of China, or raising manufacturing’s share in the GDP to 25%—the Centre and the states must quickly ease labour laws.


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Fiscal slip up 2 ppt, need to structure package carefully

A Rs 4 lakh crore extra borrowing acknowledges huge fiscal slippage; raise loan-guarantee component in package.


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Making sense of the new FDI norms

The recent revisions made to the FDI policy need more clarity for the benefit of investors and companies that are getting lost in its ambiguity.


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IBM AI – Watson’s role must be expanded to data analysis and forecasting trends

ICMR, at present, is only using Watson for backend reporting, but it also needs to deploy it for data analysis and forecasting trends.


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Job cuts, zero production activity due to lockdown: What the Centre must do now

A fully Keynesian approach will need to be taken by the government. People are losing jobs and production activity has come to a standstill due to the lockdown.


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GST relief 2.0: Govt can provide relaxations with respect to certain measures under GST

Current relaxations, prospective exemptions, and time taken to restore normalcy may depress tax collections. An increase in the tax rate of certain goods can compensate for losses.


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Analyst Corner: Jindal Steel & Power Rating ‘buy’ – Volume uptick in April beat sector trend

Company faring better than peers on operational front due to its focus on exports; lower costs to aid margin; ‘Buy’ maintained.


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Maiden round-the-clock renewable energy auction gets tariff of Rs 2.90/unit

Since renewable energy is unpredictable in nature, other sources of energy are required for balancing it, increasing the actual cost of such power, dissuading state-run power distribution companies from buying such electricity.


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FM Nirmala Sitharaman to meet PSB chiefs on Monday; to review credit flow, support to NBFCs

The meeting, to be held via video conference, will also dwell on credit disbursement since March, with the focus on Covid-19-related credit sanction and offtake.


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FY21 borrowing target raised by a massive 54%

Announcing the revised calendar, the government said all the auctions covered by the calendar will have the facility of non-competitive bidding scheme, under which 5% of the notified amount will be reserved for the specified retail investors.


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Indian exchanges aim to attract overseas rupee trading volumes onshore

Finance minister Nirmala Sitharaman inaugurated the rupee-dollar derivatives trading on the two exchanges on Friday.


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Industries want suspension of most labour laws for 3 years

Earlier in the week, Uttar Pradesh promulgated an ordinance to exempt industries from various labour laws for three years to revive economic activities.


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Sovereign rating: Moody’s warn of India downgrade, pegs FY21 growth at 0%

Separately, in a report released on Friday, S&P said it expected the banking systems of Indonesia and India to be among the worst hit in the Asia-Pacific region.


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States’ tax revenue slipped even before COVID-19 outbreak

Even though data for February is not yet available, in the first 10 months of FY20, Maharshtra reported just 3.8% growth in tax revenues while Tamil Nadu's tax receipts in the period grew by an even lower 1.5%.


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Net inflows into equity MFs halve in April compared to March, as investors turn cautious

Industry experts say that lump-sum investments have stopped and even some investors are stopping their SIPs, due to the unpredictable equity markets.


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Vashi APMC to remain shut from May 11-17 due to rising COVID-19 cases

APMC administration and NMMC will carry out disinfection of the market premises and conduct tests. The market will remain open on this Saturday and Sunday.


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Private power producers want govt to fast-track discom funding package

Power plants across the country currently have coal stock to run their plants for 31 days on an average.


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

The rise in Jio’s ARPU (average revenue per user) during Q4FY20 was lacklustre, analysts said despite the fairly sharp 14-53% hike in tariffs in early December.


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Non-food credit growth slips to 6.67% y-o-y amid COVID-19 crisis

Meanwhile, deposit growth in the banking system rose to 9.83%, falling marginally compared to the previous fortnight.


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New road route to cut travel time to Kailash Mansarovar

Minister for road transport and highways (MoRTH) Nitin Gadkari said for the first time that the border is finally connected by roads.


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IndiGo to implement wider pay cuts, send some staff on leave without pay

While senior-vice presidents and above would have 20% of their pay slashed, vice-presidents and cockpit crew would take a 15% cut.


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Cognizant plans to invest in growing digital skills, hire 20,000

Cognizant has reported a decline of 16.78% in net income at $367 million for the quarter ended March 31, 2020, as compared to $441 million in the same period a year ago.


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Cadila Pharma shuts operations at Ahmedabad plant after employees test Covid-19 positive

The company manufactures 38 APIs and intermediates across various therapeutic categories — respiratory, diabetology, gastroenterology, pain management, orthopedics, etc. The company has more than 850 formulation products.


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Hike MSP, levy cess on sugar: NITI task force

The report of the panel on sugarcane and sugar industry, headed by NITI Aayog member Ramesh Chand, was submitted on April 21.


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DHFL resolution: CoC to meet on May 12 to discuss COVID-19 impact

Lenders will get an update on the progress of transaction audit report by Grant Thornton on May 12, as per the agenda of the meeting.


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Power demand falls 22.6% in April, steepest plunge in recent history

Electricity consumption in Uttar Pradesh declined by 20.3% in April while Rajasthan recorded an annual fall of 21.3% in the same month.


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Uber resumes operations in green, orange zones amid lockdown

In a bid to curb the transmission of novel Coronavirus, India suspended public transport services and enforced a nearly two-month country-wide lockdown that is currently set to end on May 17.


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Coupon on new benchmark bonds settles at 5.79%

Market participants have been anticipating the coupon on the new 10-year bonds to settle at levels close to 5.85%, around 15-18 basis points lower than the yield on the current benchmark bonds.


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SBI Card Q4 profit slides 66% y-o-y as impairment losses soar

The total balance sheet size as on March 31, 2020 was Rs 25,303 crore, up 25.6% from Rs 20,146 crore on March 31, 2019.


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Still hiring! Walmart, other superstores buck U.S. employment trend

Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc, added more than 90,000 jobs.


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