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Darkening horizon: With authorities considering more curbs, market volatility has increased, say analysts.

Business Live: Shares drop as fresh coronavirus cases hit record high; oil falls 3rd day on U.S. stock build, surging COVID-19 cases

The Hindu Net Desk Updates from the world of economy, markets, and finance

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Wait and watch, FM tells industry on second wave

Special Correspondent ‘Govt. with industry in fighting COVID’

Photo for representation only.

Sensex tumbles over 500 points in early trade

PTI Nifty slips below 14,200

5hrs

Home-buying budgets rose post-pandemic: survey

Special Correspondent As many as 57% of the respondents said homebuyers had increased their budgets

Oil slips as India’s COVID surge dents outlook

Care Ratings lowers FY22 GDP forecast to 10.2%

Booster dose: Due to COVID-19, India’s exports may require more stimulus, RSM Astute said. B. Jothi Ramalingam

Exporters fret over delay in rebate rates

Fundraising via bonds jumped 14% in FY21

Remdesivir, the only drug cleared to treat COVID-19. Photo used for representation purpose only. File

Government withdraws customs duty on imports of Remdesivir

Special Correspondent A notification to this effect was issued by the Finance Ministry on Tuesday.

U.S. currency watchlist an intrusion: official

Special Correspondent ‘Putting India under scanner invasion into central banks’ policy space’

D.V. Sadananda Gowda. File

Customs duty waive off on Remdesivir will further augment domestic availability: Sadananda Gowda

PTI The Minister had earlier asked the State governments to take strict action against anyone found indulged in black marketing or hoarding of Remdesivir.

Opinion & Analysis

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The Finance Minister has delivered, but the road ahead is long: on Union Budget 2021

Ananth Narayan This Budget scores very high marks on credibility and on its potential to create domestic output and jobs, but much more remains to be done

A Budget that fails to address the hunger pandemic

Dipa Sinha In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all

A promising Budget with a few disappointments

M.Govinda Rao While the Budget promises to revive the economy faster, it continues to emphasise the protectionist trend

Markets

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Photo for representation only.

Sensex tumbles over 500 points in early trade

PTI Nifty slips below 14,200

5hrs

Rupee slips to 74.88 against US dollar on COVID worries

PTI Traders said the local unit ended in the red.

Economy

See All

Wait and watch, FM tells industry on second wave

Special Correspondent ‘Govt. with industry in fighting COVID’

Home-buying budgets rose post-pandemic, says survey

Special Correspondent As many as 57% of the respondents said homebuyers had increased their budgets

Industry

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Sales of EVs in India fell 20% in FY21 to 2,36,802 units: SMEV

Sensex tumbles over 500 points in early trade

Business Live: Shares drop as fresh coronavirus cases hit record high; oil falls 3rd day on U.S. stock build, surging COVID-19 cases

Farm exports rose 16.9% in April-Feb. FY21

Oil slips as India’s COVID surge dents outlook

Fundraising via bonds jumped 14% in FY21

Ratan Tata invests in Mailit

Mailit, a mail room management and logistics company, said it had received an unspecified amount as investment from Ratan Tata, chairman emeritus,

Home-buying budgets rose post-pandemic, says survey

As many as 57% of the respondents said homebuyers had increased their budgets

Hero MotoCorp, Taiwan’s Gogoro to make EVs

Two-wheeler maker Hero MotoCorp on Wednesday announced a partnership with Taiwan’s Gogoro Inc., a provider of battery swapping platforms, ‘to

India is among top 5 in sales for Ericsson

Swedish telecom gear maker Ericsson, which posted net sales of SEK49.8 billion in the January-March 2021 quarter, said India figured among the top

Care Ratings lowers FY22 GDP forecast to 10.2%

‘Lockdowns to affect GST collections’

IndiGo to induct 4 Airbus freighters from 2022

Budget carrier IndiGo said it planned to induct four freighter aircraft starting 2022. The move makes it only the second private passenger airline

Exporters fret over delay in rebate rates

The RoDTEP scheme came into effect on Jan. 1 but lack of clarity is hampering sector’s ability to price

Pitstop to foray into EV servicing

Pitstop, a tech-enabled, multi-brand car service company, is planning to foray into servicing of Electric Vehicles (EVs), mainly two wheelers, three

Swanrose Inc eyes $5 mn funding

Healthcare start-up Swanrose, which currently has operations in the U.S. and India, plans to raise $5 million as it looks to expand operations in West

Wait and watch, FM tells industry on second wave

‘Govt. with industry in fighting COVID’

MyDentalPlan raises $7 lakh in seed funding

Bengaluru-based start-up MyDentalPlan Healthcare on Wednesday said it has secured a seed funding of $7 lakh from Safe Planet Medicare LLP. “Having

Farmers in Punjab, Haryana receive MSP directly in their bank accounts

Producers, arhtiyas happy over wheat procurement, says Punjab Food Minister

Customs duty waive off on Remdesivir will further augment domestic availability: Sadananda Gowda

The Minister had earlier asked the State governments to take strict action against anyone found indulged in black marketing or hoarding of Remdesivir.

U.S. Senate panel mulls revoking Big Tech immunity citing COVID scams online

In March, Facebook Chief Executive Mark Zuckerberg called for a Section 230 reform that would give publishers immunity only if they follow best practices for removing damagingmaterial from their platforms

Business updates | April 21, 2021

Updates from the world of economy, markets, and finance

Hero MotoCorp to temporarily shut down manufacturing operations due to rising cases

Amid a record number of new COVID-19 cases in the country, India’s largest two-wheeler maker Hero MotoCorp on Tuesday announced temporary suspension

DBS, others mull bids for Citi’s business

Banks including DBS Group, Mitsubishi UFJ Financial Group, OCBC and Standard Chartered are set to bid for parts of Citigroup’s consumer business in

Localised lockdowns already hitting economic activities: Report

The report has also called for speeding up the vaccination drive that of late has been on the decline on a weekly basis.

Government withdraws customs duty on imports of Remdesivir

A notification to this effect was issued by the Finance Ministry on Tuesday.

Air Products’ Kochi unit supplies syngas to BPCL

Air Products, into industrial gases mega project development and execution, has announced the reliable supply of syngas from its Kochi Industrial Gas

Maruti Suzuki transported 7.2 lakh vehicles via rail in last 5 years

The country’s largest carmaker Maruti Suzuki on Tuesday said it has transported over 7.2 lakh vehicles using the Indian Railways in the last five

Zaggle’s profit surges as digital payments rise

Fintech firm Zaggle Prepaid Ocean Services Pvt. Ltd. said the rapid adoption of digital payments in enterprises during COVID-19 time helped grow its

Nestlé India March quarter net rises 14.6%

Nestlé India posted a 14.6% increase in net profit to ₹602.25 crore for quarter ended March 31 from a year earlier, as in-home consumption boosted

‘Pre-owned car market to cross 7 mn units by FY25’

Smaller cities driving growth: study

LIC’s premium income rises 10% in FY21

Life Insurance Corporation of India (LIC) said it had achieved first-year premium income of ₹56,406 crore for FY21 under the individual assurance

‘Target over 25% growth in exports’

Addressing a meeting with export promotion councils of various sectors, Commerce and Industry Minister Piyush Goyal urged exporters to target over 25%

Govt. says container shortages resolved

India drafting long-term plan to spur local manufacture of the boxes crucial to global maritime trade

Apple Special Event ‘Spring Loaded’: New iMacs and iPad Pro, Apple TV 4K, AirTag and purple iPhone 12's

Tim Cook and his team enjoyed an outdoorsy spring launch of an updated iPad Pro, iMac, Apple TV – and the much-anticipated launch of the AirTag.

U.S. currency watchlist an intrusion: official

‘Putting India under scanner invasion into central banks’ policy space’

Citibank tells Indian retail customers it's ‘business as usual’

As part of this strategy the financial services company plans to exit the credit card, retail accounts and mortgage (home loan) business in India

PayPal’s Venmo launches crypto buying and selling

With more than 70 million customers, Venmo is one of the most popular payment apps in the United States, especially among younger consumers who use it to pay friends and family. It processed around $159 billion in payments last year.

Chennai-based revenue management platform Chargebee enters Unicorn club with fresh round of funding

Chargebee is now valued at $1.4 billion, which triples its valuation in less than 6 months

Need complete trust between industry, govt to sustain growth amid COVID-19 situation: Nirmala Sitharaman

“During this ongoing second wave, look at the steps which we have taken. Revival will continue to happen,” said Finance Minister Nirmala Sitharaman

Sensex, Nifty settle lower after see-saw trade; banking, IT stocks drag

BSE Sensex slipped 243.62 points or 0.51% to close the session at 47,705.80; NSE Nifty tanked 63.05 points or 0.44% to 14,296.40

ICRA cuts its FY22 GDP estimate by 0.5%, sees economy expanding by 10.5%

The recent surge in COVID-19 cases has resulted in a dip in consumer confidence and reignited uncertainty regarding the near-term outlook, it said.

Gold declines ₹ 305 on muted global

Silver also dipped ₹ 113

Rupee slips to 74.88 against US dollar on COVID worries

Traders said the local unit ended in the red.

Bharat Biotech ramps up Covaxin production capacity to 700 mn doses per annum

The capacity was earlier pegged at 200 million doses a year.

Govt approves subsidy policy for urea produced through coal gasification

The Union Cabinet on Tuesday approved an exclusive subsidy policy for urea produced through coal gasification by Talcher Fertilizers Limited. It

Serum hails financial aid from govt to ramp up Covid-19 vaccine production

Sources said the finance ministry has relaxed rules to allow advance payment without bank guarantee to help the vaccine makers ramp up production.

Twitter to expand engineering team in India

The microblogging platform said it planned to ramp up its team across engineering, product, research and design, while also announcing the appointment of Apurva Dalal as Director of Engineering.

Closure of economic activity will lead to permanent closure of businesses, job losses: RAI

“Shutting down non-essential or non-food retail and malls is not the solution,” says RAI CEO Kumar Rajagopalan.

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