Category: BUSINESS

The rupee appreciated 30 paise to 75.65 against the US dollar in early trade on Tuesday tracking positive opening of domestic equities and weakness in the American currency. Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.At the interbank foreign exchange, the rupee opened at 75.69, then gained ground to touch 75.65, registering a rise of 30 paise over its previous close. On Friday, rupee had settled at 75.95 against the…

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Equity benchmark Sensex rallied over 400 points in early trade on Tuesday led by gains in index-heavyweights HDFC twins, ITC and Reliance Industries amid positive cues from global markets.   After touching a high of 31,086.70 in opening session, the 30-share index was trading 373.67 points or 1.22 per cent higher at 31,046.26. Similarly, NSE Nifty surged 108.70 points or 1.20 per cent to 9,147.95. ITC was the top gainer in the Sensex pack, rallying over 4 per cent, followed by IndusInd Bank, HDFC Bank, Tata Steel, Titan, UltraTech Cement…

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Indian skies will open up for domestic passenger services from Monday after a gap of two months, with Delhi-Pune and Mumbai-Patna flights being among the first to take off, aviation industry sources said.   All scheduled commercial passenger flights have been suspended since March 25 when the government imposed a nationwide lockdown to curb the coronavirus pandemic. Both the flights will be operated by IndiGo on Monday morning. While the Delhi-Pune flight is scheduled to depart at 4.45 AM, the Mumbai-Patna flight would depart at 6.45 AM. Aviation industry sources…

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Finance Minister Nirmala Sitharaman on Saturday said banks have been asked to extend loans automatically to eligible borrowers without fear of 3Cs — CBI, CVC and CAG. She said clear instructions have been given in a meeting with CEOs and MDs of public sector banks and financial institutions on Friday that the banks should not be scared to extend loans as 100 per cent guarantee is being given by the government. In case of default, the individual bank or official will not be hauled up, she said in a conversation…

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India will try to restart a good percentage of international passenger flights before August, Civil Aviation Minister Hardeep Singh Puri on Saturday said, three days after announcing resumption of domestic flights from May 25. While various states like Karnataka and Maharashtra announced their respective quarantine measures for passengers coming there through domestic flights, the minister said there was no need for quarantine if a passenger is showing green status on Aarogya Setu app. The minister, while addressing a Facebook Live session, clarified again that the app is not mandatory for…

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Apple and Google on Wednesday released long-awaited smartphone technology to automatically notify people if they might have been exposed to the coronavirus.   The companies said 22 countries and several U.S. states are already planning to build voluntary phone apps using their software. It relies on Bluetooth wireless technology to detect when someone who downloaded the app has spent time near another app user who later tests positive for the virus. Many governments have already tried, mostly unsuccessfully, to roll out their own phone apps to fight the spread of…

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The rupee appreciated 20 paise to 75.71 against the US dollar in early trade on Tuesday as initial success in COVID-19 vaccine trial boosted investor sentiment world over.   Forex traders said besides the encouraging results in COVID-19 vaccine trial, higher opening of domestic equities and weakening American currency supported the local unit. At the interbank foreign exchange, the rupee opened at 75.71, registering a rise of 20 paise over its previous close. On Monday, the rupee had settled at 75.91 against the US dollar. The rupee opened with gains…

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Equity benchmark Sensex plunged over 800 points in opening session on Monday dragged by losses in banking stocks as the government’s fiscal stimulus package failed to revive confidence in domestic investors.   After hitting a low of 30,265.67, the 30-share index was trading 731.91 points or 2.35 per cent lower at 30,365.82. Similarly, NSE Nifty slumped 226.90 points, or 2.48 per cent, to 8,909.95. ICICI Bank was the top laggard in the Sensex pack, cracking around 6 per cent, followed by Axis Bank, SBI, Bajaj Finance, Titan, Maruti, IndusInd Bank,…

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Equity benchmark Sensex surged over 500 points in opening session on Monday as strong gains in index-heavyweights Reliance Industries, HDFC, Infosys and positive cues from global markets boosted market sentiment.   After touching a high of 32,182.36, the 30-share index was trading 531.55 points or 1.68 per cent higher at 32,174.25. Similarly, NSE Nifty surged 148.65 points, or 1.61 per cent, to 9,400.15. Reliance Industries was the top gainer in the Sensex pack, soaring over 3 per cent, followed by UltraTech Cement, Maruti, Bajaj Auto, IndusInd Bank and ITC. In…

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In the wake of the gas leak at a factory in Visakhapatnam, the National Disaster Management Authority (NDMA) has issued detailed guidelines for restarting industries after the lockdown and the precautions to be taken for the safety of the plants as well as the workers.   In a communication to all states and union territories, the NDMA said due to several weeks of lockdown and the closure of industrial units, it is possible that some of the operators might not have followed the established standard operating procedures. As a result,…

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