Business

Forex traders said the rupee is trading in a narrow range as the higher opening in domestic equities supported the local unit, while sustained foreign fund outflows and strengthening of the American currency weighed on it.

The fixed-rate reverse repo operation - when a player parks excess funds with the RBI for overnight interest - will be available for accessing between 9 am and 2359 hrs in the evening between March 31 and April 30, the central bank said.

Bank of Baroda, has reduced its Baroda Repo Linked Lending Rate by 75 basis points with effect from March 28, 2020, it said in a statement.

Sun Pharma on Sunday informed stock exchanges that its Halol plant has been classified as ‘Official Action Indicated’ (OAI) by the USFDA after a December 2019 inspection.

RB is also having a mass outreach through informative advertisement on TV as Dettol in partnership with leading Bollywood actress Madhuri Dixit and released an engaging public service announcement '#ApniSurkashaApneHaath' to encourage viewers to practise...

Asked if the government is considering extending the deadline for merger of public sector banks, Finance Minister Nirmala Sitharaman said 'at the moment there is nothing on that'.

The public sector bank also announced that all MSME and agriculture borrowers are eligible for a loans up to Rs 50 crore in a bid to aid the virus-hit economy.

While the assurance of domestic stimulus by the government boosted investor sentiment, there are concerns over the impact of coronavirus outbreak on the domestic as well as the global economy.

He also said the online restaurant guide and food ordering company is also starting a fund to cover up the lost earnings for thousands of its delivery partners and hoped that the government would support them with this.

The Sensex zoomed 1,861.75 points or 6.98 per cent to close at 28,535.78 on Wednesday. In the previous trade, it had gained 692.79 points or 2.67 per cent to close at 26,674.03.

While there is no extension on the deposit of TDS, Sitharaman provided relief by reducing the interest rate to 9% till June 30. The current rate was 18%.

"This program will be the largest share buyback and will result in the largest increase in cash balance in the history of SBG, reflecting the firm and unwavering confidence we have in our business," the firm's chairman Masayoshi Son said.

With virtually no footfalls, many jewellers might have to even shut down their shops, the All India Gem & Jewellery Domestic Council said.

As per the depositories data, overseas investors withdrew a net sum of Rs 56,247.53 crore from equities and Rs 52,449.48 crore from the debt segment, taking the total net outflow to Rs 1,08,697.01 crore between March 2 and March 20.

On March 6, FM Nirmala Sitharaman had said the Anil Ambani Group, Essel Group, ILF&S, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

The life insurer said it is confident of crossing its target of 2.5 crore individual policies well before March-end.