Business

E-commerce sector in India, which is dominated by mobile phones, electronics and fashion, are already estimated to have lost $400 million worth of sales during the last week starting with the ‘junta curfew’ on 22 March.

Condoling the death of its 56-year-old CFO, Jefferies Financial Group in a statement said, the company mourns Broadbent’s loss and it extends its 'deepest sympathies' to his family.

Axis Bank was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by Reliance Industries, Kotak Bank, ICICI Bank, Maruti, UltraTech Cement, HDFC twins and Bharti Airtel. On the other hand, ITC, ONGC and L&T were the laggards.

The negative mood was fuelled by the failure of US lawmakers to agree on a trillion-dollar emergency package to help the reeling American economy.

As revenues have fallen drastically amid the coronavirus pandemic, the airline has already laid off its expat pilots and announced leave without pay for its employees.

The company has also partnered with online doctor consultation App, Mfine, to provide free medical help for driver-partners and their family members.

The supply-chain disruptions due to the virus are expected to hit business investment and exports with India's GDP growth expected to be of 5% in 2019-2020

PM Narendra Modi said the task force will ensure that all steps are taken to reduce the economic difficulties and the measures are effectively implemented.

Apart from the relaxation on filing corporate governance reports, an extra three weeks each time was given for shareholding pattern and statement of investor complaint reports

Ashok Leyland Ltd shares plunged over 15% after the company approved to acquire up to 19% additional equity shares in Hinduja Leyland Finance for up to Rs 1,200 crore.

This easing of inflation towards the lower band of the RBI's 2-6 per cent target range would provide room for the central bank to ease monetary policy significantly.

The United States could pump $800 billion or more into the economy to minimize damage from the coronavirus outbreak if Congress passes a payroll tax holiday through year-end.

The shutdown comes after some bourses around the world closed trading floors or paused trade after withering falls in market value due to the coronavirus outbreak.

In the wake of reports of such moves being mulled by some states, the Reserve Bank had on Thursday written to state governments not to shift away from private sector lenders, flagging its concerns on financial stability.

A flood of low-priced oil into the market from Saudi Arabia and the United Arab Emirates is intensifying the pressure on prices after the collapse of a price supporting agreement with Russia last week.

Ajay Singh, however, exuded confidence that the proactive steps taken by the government to contain coronavirus cases in the country would help to overcome the crisis.