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Business Live: Shares sink on record surge in daily COVID-19 cases; oil drops as surging COVID-19 infections stoke demand concerns

Updates from the world of economy, markets, and finance

Covid-19 | AirAsia India not to charge any fee for changes made on tickets booked till May 15

It has announced the offer to give passengers flexibility amid "increased uncertainty and travel restrictions".

GST officers to be soon armed with real-time data on vehicles moving without e-way bills

Under the Goods and Services Tax regime, e-way bills have been made mandatory for inter-state transportation of goods valued over ₹50,000 from April 2018

Irdai imposes ₹51 lakh penalty on four insurers

Group of firms includes SBI General Insurance Company that has been fined ₹25 lakh.

Second COVID-19 wave could spark greater uncertainty, govt will respond with fiscal steps if required: NITI Aayog Vice-Chairman

NITI Aayog Vice-Chairman Rajiv Kumar remained hopeful that the country’s economy will grow 11% in the current fiscal ending March 31, 2022

India’s power consumption grows nearly 45% in first half of April

In March this year, the power consumption grew nearly 23% to 121.51 BU compared to 98.95 BU in the same month of 2020.

Analysts expect stock markets to be highly volatile amid rising COVID cases, earnings season

Nestle India, Rallis India and Tata Elxsi are the other major companies to announce their earnings this week.

COVID-19 hits passenger vehicle exports; shipments tumble 39 % in FY21

Industry tried its best to catch up in the second half of the fiscal.

The Hindu Explains | How will the U.S. Supreme Court verdict in the Oracle vs. Google case affect the software industry?

What is fair use? How did the court decide that Google’s action came under the ambit of fair use?

SpiceJet eases free change norm to 5 days

SpiceJet on Saturday said passengers will not be charged any fee for changing the date or time on their tickets at least five days prior to the date

PLI scheme for ACs, LED lights to exclude ‘mere assembly’

DPIIT’s norms prioritise production of basic components

Online advice helps cut 45% litigation: LegalKart

‘Most queries on property, family issues’

Tamil Nadu sees over twofold jump in investments

It received projects worth over 1 lakh cr. in 2020-21, only second to Maharashtra.

HDFC Bank posts 16% rise in Q4 net profit at ₹8,434 crore

The private sector lender had registered a net profit of ₹7,280 crore in the corresponding quarter a year ago.

‘Pharma exports grew 18.7% in FY21’

Pharmexcil says best performance of $24.4 bn came amid global contraction

ALL delivers bullet proof vehicles to IAF

Ashok Leyland Ltd. (ALL) delivered a first-of-its-kind ‘light bullet proof vehicles’ (LBPV) to the Indian Air Force recently.LBPV is an adopted

Coronavirus | Bharat Biotech to make 6 crore Covaxin doses by July

3 more facilities to produce Covaxin.

Honda Cars to recall 77,954 vehicles to fix faulty fuel pump

Honda Cars India on Friday announced a recall of 77,954 units of its various models, including Amaze, City, WR-V, Jazz, Civic, BR-V and CRV, to

U.S. Treasury keeps India on currency watch list

Country meets 2 of 3 review criteria

Mindtree net up 54%, to pay ₹17.5 dividend

Its dollar revenue grew 5.2% QoQ `Well positioned to deliver double-digit growth’

Major destinations for sugar exports are Indonesia, Afghanistan

Major destinations for sugar exports from India this season (October 2020 to September 2021) are Indonesia and Afghanistan, according to the Indian

Quess to buy ₹208-crore stake in Conneqt

Quess Corp, a business services platform, said it will acquire the residual 30% equity stake in Conneqt Business Solutions from Tata Sons for ₹208

Higher rural demand to spur growth: Usha International

Firm to strengthen portfolio to facilitate higher rural share

DoT gets ₹2,306.97 cr, from Jio, Airtel by assigning some spectrum early

The Department of Telecom (DoT) on Friday said it has completed the assignment of frequencies to successful bidders in the recently-concluded spectrum

Economy in better shape than during 2020’s COVID-19 wave: CEA

CEA Subramanian says uncertainty is much lower because of vaccination drive

Central support for Bharat Biotech, 3 PSEs to augment Covaxin supplies

The Centre has announced financial support to Covaxin maker Bharat Biotech as well as roped in Haffkine Bio-Pharmaceutical Corporation, Indian

Quess Corp to acquire remaining 30% stake in Conneqt from Tata Sons for ₹208 crore

Quess had acquired 51% of Conneqt in November 2017 and further increased its stake in Conneqt from 51% to 70% in May 2019 via infusion of primary capital.

India remains badly placed to tackle COVID spread, says Fitch Solutions

The agency flags inadequate public spending in healthcare.

Turkey bans use of cryptocurrencies for payments, sends Bitcoin down

Turkey's central bank bannedthe use of cryptocurrencies and crypto assets to purchase goodsand services, citing "irrepairable" possible damages and

Coronavirus | Haffkine Bio-Pharma targets 22.8 crore Covaxin vials a year

It will be at least a year before the company begins actual production.

Ashok Leyland delivers first lot of light bullet proof vehicles to Indian Air Force

Developed using ‘transfer of technology’ from Lockheed Martin, the vehicles are completely made in India.

Transporters' body terms 16 paisa cut in petrol, diesel rates 'ostentatious', seeks more reduction

Transporters' body AIMTC on Friday termed the recent 14-16 paise per litre cut in petrol and diesel prices across major cities as "ostentatious", and

Rupee zooms 58 paise to settle at 74.35 against US Dollar

At the interbank forex market, the local unit opened at 74.76 against the greenback and witnessed an intra-day high of 74.28 and a low of 74.76.

Sensex, Nifty end marginally higher

Asian Paints was the top gainer in the Sensex pack, rising over 2 %, followed by UltraTech Cement, ONGC, Sun Pharma, HCL Tech and Nestle India.