Vodafone Idea Posts Highest-ever Loss by an Indian Firm at Rs 73,878 Crore in FY20

Gross debt (excluding lease liabilities) as on March 31, 2020, was Rs 1,15,000 crore including deferred spectrum payment obligations due to the government of Rs 87,650 crore.

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India's Factory Activity Contracts for Third Straight Month in June

The virus has infected over half a million people in the world's second-most populous nation, stalling economic activity, but Wednesday's survey suggested the worst may be over for the economy, at least for now.

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Sensex Surges Over 200 Points in Early Trade; Nifty at 10,350

ITC was the top gainer in the Sensex pack, surging around 2 per cent, followed by Axis Bank, HDFC, IndusInd Bank, Bajaj Finance, SBI and Reliance Industries.

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Jet Fuel Price Hiked by 7.5%, Petrol Diesel Rates Remain Unchanged for 2nd Consecutive Day

Aviation turbine fuel (ATF) price was hiked by Rs 2,922.94 per kilolitre (kl), or 7.48 per cent, to Rs 41,992.81 per kl in the national capital, according to a price notification by state-owned oil marketing companies.

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Asia's Factory Pain Eases as Region Emerges from Covid-19 Pandemic

But sluggish global demand and fears of a second wave of infections will tame any optimism on the outlook and keep pressure on policymakers to support their ailing economies.

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Global Labour Market 'Uncertain', No Return to Pre-pandemic Levels This Year, Says ILO

In its latest report, the U.N. labour agency said that the fall in global working hours was "significantly worse than previously estimated" in the first half of the year, with the Americas the hardest-hit region.

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Finance Ministry Requested to Impose Border Adjustment Tax, Says Union Minister Dharmendra Pradhan

The proposed BAT would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally made products.

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Continued Spread of Covid-19 Pandemic Poses Risk to Indian Economy, Says IMF Official

Recently, the International Monetary Fund (IMF) in its report projected the Indian economy to contract by -4.5 per cent in 2020, which is the slowest Indian growth that it has in its record since 1961.

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Engineering Exporters Wary of Non-clearance of Cargo from China at Indian Ports

Amid heightened border tensions with China, Indian customs officials have started physical inspection of all consignments coming from the neighbouring country, based on intelligence inputs, though there is no formal order.

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Govt's Total Liabilities Rise to Rs 94.62 Lakh Crore in January-March FY20

As per the report, the weighted average yield of primary issuances moderated further to 6.70 per cent during March quarter from 6.86 per cent in October-December.

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India Records Marginal Surplus on Current Account in January-March on Lower Trade Deficit

For the fiscal year 2019-20, the current account deficit narrowed to 0.9 per cent of the GDP compared to 2.1 per cent in FY2018-19, the central bank said.

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Govt Exempts Properties in Delhi's Unauthorised Colonies From Income Tax

The government had last year legalised unauthorised colonies in the national capital, giving house owners legal property rights.

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Fitch Cuts India Growth Projection to 8% For FY22; Economy to Shrink by 5 Percent This Fiscal

In its June update of Global Economic Outlook, Fitch projected Indian economy to grow 5.5 per cent in 2022-23.

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ONGC Reports First-ever Quarterly Loss on Impairment Loss

India's top oil and gas producer reported a Rs 3,098 crore loss in the January-March quarter as compared to a profit of Rs 4,240 crore in the same period a year back.

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Eight Core Industries' Output Contracts 23.4 Percent in May Due to Covid Lockdown

Barring fertiliser, all seven sectors - coal, crude oil, natural gas, refinery products, steel, cement, and electricity - had recorded negative growth in May.

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India's Fiscal Deficit Touches 58.6% of Annual Target in Two Months

Net tax receipts during April-May period were 338.5 billion rupees ($4.48 billion), while total expenditure was 5.12 trillion rupees, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic.

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CAIT Seeks Probe Into Chinese Investments in Indian Startups to Rule Out 'Foul Play'

The traders' body further said that the Chinese firms that may have set up manufacturing plants in India should also be investigated for whether the data they have accrued is not being misused or sent to China.

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Sebi Again Eases Compliance Rules for Processing of Demat Request, Relaxation Extended till July 31

Sebi has eased compliance requirement with regard to processing of the demat request form by issuer or registrar of share transfer agent and depository participants.

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Sensex, Nifty Pare Early Gains, End Marginally Lower

Concerns over rising COVID-19 cases and its impact on economic recovery remained a key factor for investors, analysts said.

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Coronavirus May Set Back Indian Banks' Recovery by Years, Hit Credit Flows: S&P

The US-based rating agency expects non-performing loans in Indian banks will hit a fresh high, raising credit costs, and putting pressure on ratings.

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US Urges Europe to Uproot Chinese Security-Screening Company, Says it is Threat to Western Business

According to a report by Wall Street Journal, a campaign led by the National Security Council and a handful of US agencies is trying to rally European governments to uproot Nuctech Co.

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Indian Bond Yields Fall to over One-week Low after Special OMO Announcement

Traders expect the benchmark bond yield to remain in a tight 5.83% to 5.93% range in the near term in the absence of any fresh cues.

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Rupee Rises 13 Paise to 75.45 against US Dollar in Early Trade

Forex traders said positive domestic equities and weak US currency supported the local unit, while foreign fund outflows and concerns over rising COVID-19 cases weighed on investor sentiment.

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'It's Been a Bit Crazy': Pandemic Leads to Six Months of Global Market Mayhem

If somehow you missed the coronavirus slamming the global economy like a wrecking ball, current market levels certainly do not reveal the wild swings that unprecedented events unleashed.

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Sensex Rises Over 200 Points in Opening Session on Firm Global Cues

The 30-share index was trading 211.55 points, or 0.61 per cent, higher at 35,173.07, while the NSE Nifty rose 57.35 points, or 0.56 per cent, to 10,369.75.

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Banned in India, TikTok to Meet Govt Panel to Present 'Clarification', Says Will Comply With Privacy Needs

The Chinese apps banned in India include TikTok, Shareit, WeChat, Helo, Likee, UC News, Bigo Live, UC Browser, ES File Explorer and Mi Community.

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India Bans 59 Popular Chinese Apps: Status Check On TikTok, Likee, Helo, WeChat, CamScanner & More

The purge of the banned Chinese apps on Apple App Store and Google Play Store may take some time. As of the time of writing this, apps including Likee, Vigo Video, WeChat, CamScanner and UC Browser are still available for download on Android and iOS.

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Oil Prices Slip as Weak Japan Data Exposes Market Jitters over Fragile Demand

Japan reported industrial output for May fell 8.4% in May from the previous month, compared with market forecasts for a 5.6% decline.

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Food Corporation of India Has 816.60 Lakh Tonnes of Foodgrains for Food Law, Welfare Schemes

About 55 lakh tonnes of foodgrains are required monthly under the National Food Security Act (NFSA) and other welfare schemes.

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Modi Govt Bans 59 Chinese Apps In India: A Blow To China’s Digital Silk Route Ambitions?

The apps that now stand banned in India, across the Google Android ecosystem and the Apple iPhone as well as the iPad platforms now include TikTok, Shareit, WeChat, Helo, Likee, UC News, Bigo Live, UC Browser, ES File Explorer and Mi Community.

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RBI Needs to Revisit Policy Restricting Big Corporates from Promoting Banks: Former Deputy Governor

The former RBI governor said the needs and aspirations of the Indian economy make it necessary to look at sources of large capital from entering the banking fray.

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Amid Pandemic Disruptions, India's Hiring Activities Holding up Better Than Many Economies: Report

The impact of COVID-19 has not been evenly spread across sectors as some of them like software technology, medical professional and marketing have experienced a surge in job postings.

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Relisted in January, Stocks of Patanjali's Ruchi Soya Soar 8,818% in Just 103 Sessions

In terms of market-cap, Ruchi Soya is now bigger than several biggies like Lupin, Torrent Pharma, Tata Steel, Ambuja Cements, HPCL, Grasim, PNB, Hindalco, Colgate-Palmolive and Havells India.

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Yes Bank to Auction Properties of Essel Infra, SKIL Infra in July to Recover Dues

The sale of immovable assets is under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002.

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China Unveils Cross Border Wealth Management Scheme with Hong Kong, Macau

Cross-boundary remittances in the scheme will be conducted in yuan and currency conversions will be done offshore, the statement said, adding the pilot's official launch date would be announced later.

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Steel Imports Worth Rs 20,000 Crore Avoided Due to DMISP Policy, Says Union Minister Dharmendra Pradhan

The minister also said the government's thrust on infrastructure development will have a positive bearing on driving steel consumption in the country.

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Sensex Drops 210 Points as Pandemic Fears Cloud Outlook for Recovery Globally

Further, geopolitical tensions like India-China border issue and US-China trade differences also kept participants on edge, traders said.

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Sebi Invites Bids to Create 'Data Lake' with Analytical Capabilities to Check Malpractice in Capital Markets

To provide 'data lake' solution, the markets regulator had issued a notice in May, 2019 - inviting expression of interest (EoI) from the interested parties.

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Gross State Domestic Product Likely to Contract Up To 14.3% In FY21 Due to Covid-19 Lockdown: Report

States such as Assam, Goa, Gujarat and Sikkim are likely to witness a double-digit contraction in FY2021, India Ratings and Research said in a report on Monday.

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Covid-19: SBI Economists Pitch for Second Round of Financial Package for Impacted Sector

They also warned that banks will start reporting higher non-performing assets (NPAs) after September, once the six-month moratorium on loan repayment ends.

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Axis Bank Shares Tank over 5% after S&P Lowers Rating

While Axis Bank's asset quality is superior to the Indian banking sector average, its level of non-performing assets will likely remain high compared to international peers, it noted.

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Rupee Opens On Flat Note, Rises 5 Paise to 75.60 Against Dollar in Early Trade

Forex traders said weak domestic equities, foreign fund outflows and rising COVID-19 cases weighed on investor sentiments. However, weak American dollar supported the local unit and restricted the decline.

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Sensex Tumbles Over 300 Points in Early Trade; Nifty Below 10,300

The 30-share index was trading 323.91 points, or 0.92 per cent, lower at 34,847.36, while the NSE Nifty fell 83.65 points, or 0.81 per cent, to 10,299.35.

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Diesel Price at New High of Rs 80.53 as Fuel Rates Hiked for 22nd Time in Just over 3 Weeks

In Delhi, a litre of petrol now comes for Rs 80.43 per litre as compared to Rs 80.38 earlier. Diesel rates have been increased to Rs 80.53 per litre from Rs Rs 80.40.

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Japan's Retail Sales Extend Slump as Coronavirus Curbs Keep Shoppers Away

The decline followed a 13.9% drop in April, which was the biggest fall since March 1998, and was worse than a 11.6% fall forecast by economists in a Reuters poll.

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Amazon Workers in Germany to go on Strike over Coronavirus Infections

Verdi said on Sunday that the strike would last at least 48 hours, under the motto 'Good and healthy work', to denounce what it called a lack of transparency by the U.S. retail giant after workers tested positive for COVID-19.

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Oil Falls in Second Straight Session as Surge in Coronavirus Cases Cools Demand

Brent crude is set to end June with three consecutive monthly gains as OPEC+ supply cuts and as oil demand improved after countries across the globe eased lockdown measures.

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China Central Bank Says Economy Faces Risks from Global Pandemic, Efforts Against Domestic Resurgence

The PBOC said it would continue to guide lending rates lower by exploiting the full potential of reforms and would strengthen financial support to small- and medium-sized enterprises and private firms.

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Engineering Firms Bring Back Migrant Labourers Who Fled Covid-hit Mumbai for MMRDA Projects

According to MMRDA, nearly 755 labourers are expected to be brought back from different states in July and so far 115 have already been sourced by the contractors of the metro 7 line.

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Realty Firms Have Time Till June 30 to Pay GST on Shortfall in Input Procurement from Dealers

Any shortfall in the procurement would be subject to GST to be paid by developers at the rate of 18 per cent on supplies used as inputs or input services and 28 per cent for cement.

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