Business
The benchmark indices witnessed heavy selling this morning but managed to stage a recovery over the rest of the day. PTI reports: "Equity benchmark Sensex slipped over 190 points on Tuesday, dragged by a massive loss in index heavyweight Reliance Industries amid weak cues from Asian peers as fears
Business
Avianca Holdings' bankruptcy filing highlights the challenges for airlines that cannot count on state rescues or on such rescues coming fast enough. Avianca Holdings, Latin America's second largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus
Business
Vista’s investment will translate into a 2.32% equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook. Piyush Pandey Vista Equity Partners (Vista) will invest ₹11,367 crore to buy 2.32% stake in Mukesh Ambani led Jio
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Business
Facebook said the investment “underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country“. PTI Facebook on Wednesday announced an investment of $5.7 billion (₹43,574 crore) to buy a 10% stake in the firm that houses billionaire Mukesh Ambani’
Business
Business Live Barclays has cut its growth forecast for India to zero per cent for Calendar Year (CY) 2020 from 2.5 per cent earlier as the country heads into a longer complete shutdown (until May 3) to combat the rising number of Covid-19 cases. It has estimated the economic
Business
Infosys was the top laggard in the Sensex pack, shedding up to 4%, followed by Kotak Bank, Hero MotoCorp, Tech Mahindra, Titan and Axis Bank. PTI Equity benchmark Sensex dropped over 300 points in opening trade on Thursday tracking losses in global markets as investors fretted over rising number of
Business
The Indian rupee tanked 43 paise to settle at an all-time low of 76.87 (provisional) against the US dollar on Thursday, amid rising concerns over COVID-19-led economic slowdown. PTI Forex traders said the weakness in the rupee was largely due to strengthening of the US Dollar against a basket
Business
PTI Former Congress president Rahul Gandhi on Sunday asked the government to ensure that Indian companies did not face any hostile takeover bid by foreign companies during the COVID-19 pandemic. “The massive economic slowdown has weakened many Indian corporates making them attractive targets for takeovers,” he wrote on Twitter. “The
Business
About 15 million people face job losses in India’s exports’ sector following cancellation of over half of the orders and a gloomy forecast for global trade due to the COVID-19 pandemic, exporters’ body FIEO said. PTI Seeking immediate announcement of a relief package for exports, Federation of Indian Export
Business
The Indian rupee touched an all-time low against the dirham of Dh21.05 as the currency remained under massive pressure amid a significant rise in coronavirus cases in the country and weak domestic equities. Forex traders said heavy selling in domestic equities dragged the local unit amid mounting fears of
