Business

Forex traders said rupee was trading in a narrow range as positive opening in domestic equities supported the local unit, but market participants were concerned about the impact of spiking coronavirus cases on the economy.

In the top-10 list, only Reliance Industries Ltd and Bharti Airtel managed to close the trading week with gains.

This is the third high profile-investment in Reliance Jio in as many weeks.

Indian stocks slid on Thursday, with declines led by banks and Hindustan Unilever, as coronavirus cases in the country crossed 50,000 despite a strict weeks-long lockdown.

The report said the increase in non-performing assets by 2-4 percentage points will need a government recapitalisation requirement by $7-15 billion.

Petrol in Delhi now costs Rs 71.26 a litre as against Rs 69.59 previously, oil industry sources said.

Lower crude production due to reduced activity and OPEC+ cuts, coupled with a partial recovery in oil demand, should drive prices higher next year, Goldman Sachs Equity Research said in a note.

Reeling under pressure due to sharp drop in footfalls following the COVID-19 pandemic, operators in the country's coworking industry believe the blip could be temporary and demand for flexible space would go up again as some key factors are going for them...

The bank is looking at the short term now - the next two or three quarters, a senior SBI official said on condition of anonymity.

Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up $1.10, or 4.2%, at $27.58 a barrel by 0013 GMT.

The final report of the task force on NIP for 2019-2025 suggested steps like deepening bond markets, setting up of development financial institutions and land monetisation to meet the funding needs,

The scrip closed the day at Rs 438.85, 3.67 per cent lower at the BSE. During the day, it declined 6.15 per cent to Rs 427.50.

India's information technology services industry would see hiring freeze this year and senior level staff taking a 20-25 per cent salary cut due to the adverse impact of the COVID-19 pandemic, says IT industry veteran T V Mohandas Pai.

The RBI last week had announced simultaneous purchase as well as sale of government securities under open market operations (OMO) for Rs 10,000 crore each.

Remaining risk-averse amid the coronavirus pandemic, overseas investors have withdrawn net Rs 10,347 crore from Indian capital markets in April so far.

All India BSNL-DOT Pensioners Association (AIBDPA), representing more than one lakh of pensioners retired from Department of Telecom and BSNL.