Business

It appreciated HDFC Bank's comfortable capitalisation, strong earnings, regular capital raising to fund above-average growth and the "best" asset quality in the system.

While Zydus Cadila is working on two vaccines, Serum Institute, Biological E, Bharat Biotech, Indian Immunologicals, and Mynvax are developing one vaccine each, Gagandeep Kang, executive director of the Translational Health Science and Technology Institu...

The 40-day country-wide lockdown may prevent the spread of coronavirus, but the measure would bring a "financial epidemic" on five crore families of hawkers and those who supply them with products, an official of the national hawkers' body said.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, said they had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June to stem a slump in prices.

During the lockdown period, the steel industry could only function at 50-70% of its installed capacity due to various constraints of raw materials, logistics and labour.

The move is significant as it comes at a time when the world is fighting the deadly coronavirus, with the two top economic powers, US and China, being the worst affected.

While plain-speaking to the real estate players, Kumar said course correction has to be undertaken by the industry if they want to survive and get back on track as soon as possible.

The bank said it has already deployed mobile ATM vans at certain residential societies in the National Capital Region (NCR).

The move has come at a time when reports suggest that power demand has declined due to the nationwide lockdown hitting cash flows of electricity distribution as well as generation companies.

The rupee registered a rise of 23 paise on Wednesday as investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as the global economy.

The revised overnight MCLR stands at 7.60 per cent, while the one-year MCLR, to which a host of loans are linked, has been reviewed to 7.95 per cent.

At an India-initiated video conference of SAARC leaders on March 15, Prime Minister Narendra Modi had suggested that the member nations of the bloc should come together to jointly fight against the pandemic.

TCS was the top loser in the Sensex pack, falling over 3 per cent, followed by Titan, ICICI Bank, SBI, ITC and Bharti Airtel.

Brent crude fell as much as $4 after Saudi Arabia and Russia postponed their meeting, initially scheduled for Monday, to Thursday even as the virus pandemic pummels demand.

Prices of natural gas was from April 1 cut to USD 2.39 per million British thermal unit - a rate about 37 per cent lower than the cost of production.

With the reduction, term deposits of 1-3 years will now fetch an interest rate of 5.5 per cent from the existing 6.9 per cent, down 1.4 per cent, according to a notification by the finance ministry.