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Friday, April 10, 2020

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Investor wealth jumps Rs 3.98 lakh crore as markets make strong comeback

NEW DELHI: Investor wealth on Thursday climbed Rs 3,98,934.79 crore after markets rallied amid hopes of a second stimulus package from the government. The BSE 30-share sensex ended the day 1,265.66 points or 4.23 per cent higher at 31,159.62. During the day, it zoomed 1,331.24 points to 31,225.20. Led by the rally in equities, the…

EMI moratorium fraud: Banks ask customers to be alert, not to share OTP with imposters

NEW DELHI: In a bid to warn customers against fraudsters who may attempt to exploit the EMI moratorium scheme, leading banks are reaching out to their customers to caution them against 'EMI moratorium frauds' and strongly advising them not to share sensitive information like OTP and PIN with imposters. Over the past few days, Axis…

Cognizant withdraws 2020 growth forecast amid uncertainty on coronavirus impact

NEW DELHI: IT services major Cognizant on Thursday said it is withdrawing its growth forecast for 2020 given the uncertainty in environment amid the coronavirus outbreak. The US-based company, which has over two lakh employees in India, said it expects its March quarter revenue to be within its previously guided range of 3.4-3.6 per cent…

Coronavirus ‘drastically altered’ India’s growth outlook: RBI

MUMBAI: The outlook for India's economic recovery has been sharply altered by the coronavirus outbreak, the central bank said in its Monetary Policy Report, underlining the pandemic's deepening impact on South Asia's engine of growth. Coronavirus outbreak: Live updates"Prior to the outbreak of COVID-19, the outlook for growth for 2020-21 was looking up," the Reserve…

Supreme Court Order for Free Coronavirus Testing May Hinder Fight, Say Business Leaders, Health Experts

A doctor readies to take a swab to test for coronavirus. (Reuters) New Delhi: A decision by the Supreme Court to make testing for coronavirus free places an unfair financial burden on medical firms and could see a reduction in testing, already among the world's lowest, said business leaders and health experts. The concern is…

Sensex jumps over 800 points amid hopes of more stimulus measures; Nifty above 8,950

NEW DELHI: Equity indices surged on Thursday with the benchmark BSE sensex rising over 1,000 points amid hopes that the Centre may announce more measures to boost the economy shaken by coronavirus. Sensex jumped 1,049 points or 3.51 per cent to 30,943; while the broader NSE Nifty moved 309 points or 3.54 per cent up…

GDP to grow 1.6% in FY21: Goldman

NEW DELHI: India’s GDP growth is estimated to plunge to 1.6% for fiscal year 2021due to the impact of the Covid-19 pandemic, down from the earlier projection of 3.3%, Goldman Sachs economists have said. “The 1.6% growth for FY21 would be deeper compared to widely perceived ‘recessions’ India experienced in the 1970s, 1980s and in…

RBI to HDFC Bank: Board appointments after new CEO

MUMBAI: In a fresh twist to the HDFC Bank succession issue, the Reserve Bank of India has asked the private lender to wait until a new CEO in place before elevating executives to board level. The RBI on Wednesday put on hold a decision by the bank’s board to elevate Sashidhar Jagdishan and Bhavesh Zaveri…

Banks yet to process EMI deferment requests

BENGALURU: Bank borrowers, including small businesses, startups and individuals, who have sought EMI deferment are finding that their accounts are getting debited. Banks, operating under reduced staff strength and processing delays, say they are working on delaying debits so that they can attend to all the moratorium requests. Take the case of S Lalitha (33),…

Coronavirus: Only Indian tycoon to get richer under lockdown

NEW DELHI: The only Indian tycoon whose net worth is unscathed as the deadly coronavirus roils markets worldwide can thank nation’s hoarders with millions scrambling to stock up on staples amid the world’s biggest isolation effort. Coronavirus outbreak: Live updatesThe net worth of Radhakishan Damani, who controls Avenue Supermarts Ltd, has surged 5% this year…

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Investor wealth jumps Rs 3.98 lakh crore as markets make strong comeback

NEW DELHI: Investor wealth on Thursday climbed Rs 3,98,934.79 crore after markets rallied amid hopes of a second stimulus package from the government. The BSE 30-share sensex ended the day 1,265.66 points or 4.23 per cent higher at 31,159.62. During the day, it zoomed 1,331.24 points to 31,225.20. Led by the rally in equities, the…

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