Many of those who returned from Gulf countries to India in February and early March were neither screened at airports nor advised to quarantine themselves. The focus then was on passengers from China, South Korea, Iran, Spain, Italy and Germany. Dubai and Saudi Arabia weren’t even on the radar.
With its densely packed cities and under-funded medical system, India has little margin for error.
When you invested in a mutual fund scheme, you would have earmarked each of your mutual fund schemes to specific financial goals. For example, a retirement that is twenty years away or a higher education fund for a child that is eight years away.
Even before the outbreak of the coronavirus, overall consumer spending was muted owing to broader economic challenges. But the virus spreading at this pace brought online commerce to a screeching halt.
Shares of these companies have plunged between 17 per cent and 72 per cent.
A highly fragmented and unorganised industry, India’s logistics sector is in disarray because of disruptions caused by the nationwide lockdown. What will it take for the sector to find its feet after being battered by Covid-19?
I’m surprised to see such reports, there is no such plan of extending the lockdown," Cabinet Secretary Rajiv Gauba said on reports that the lockdown could be extended.
With businesses shut in several cities in India amid rising threat of coronavirus, investors are wary of betting on any asset class.
Among bluechip stocks, TCS and ITC were trading with gains.
The production of N-95 masks and personal protective equipment (PPE) had taken a massive hit as vital components are imported from China and South Korea. The supply chain had been majorly hit after Covid-19 outbreak in the two countries.
The assets under custody of IndiaNivesh Small Cap (Sprout) have declined from Rs 90 crore to Rs 60 crore in the past one month, according to sources.
Industry executives said that new leaves, due for plucking, were left untouched since March 22 after the lockdown took effect.
Shares of Muthoot Finance traded 2.33 per cent down in trade at 09:40AM on Monday.
Analysts said the index needs to breach the 8,900-9,000 range in the near term, before instilling confidence among market participants.
The long-term returns from equity investments tend to beat inflation. The ability of equity to earn a higher return comes from the businesses being able to use borrowed funds, invest them in assets and earn a return that is higher.
Riding on the rise in online search about Coronavirus, e-mails and websites are being used to steal your data. The theft of information takes place either through malware dropped on to the device or ransomware circulated as part of a mobile app.
“The recent deals for resolving stressed thermal power companies have valued them at around Rs 3 crore per megawatt. Jindal’s offer values the company at Rs 2 crore per megawatt. There is a gap that they need to bridge,” one executive familiar with the discussions said.
Spot gold was up 0.3 per cent at $1,621.85 per ounce, as of 0029 GMT. US gold futures rose 1 per cent to $1,641.80.
Many people are in distress due to the impact of coronavirus, financial or otherwise. Such situations are entirely beyond one's control. Here’s how you can help family or friends who ask for assistance during the current crisis without hurting your own finances.
Without a community that respects the services of workers, and chips in to support by way of demand where possible, subsidy where needed, lending where feasible, and charity without loss of self-respect, how would we protect the vulnerable?
USFDA has classified Halol facility in Gujarat as Official Action Indicated (OAI).
The govt’s relief package involves the direct transfer of such handouts through Aadhaar-linked bank accounts.
Unless Nifty crosses the 9,000-mark, the index could head back to 7,500 or lower.
E-grocers BigBasket and Grofers, ecommerce firms Amazon and Flipkart, as well as B2B platforms Jumbotail and Udaan cautioned consumers and kirana stores to expect delayed deliveries as they deal with operational upheaval caused by the restriction on manufacturing and movement of goods, and people.
According to data from the Ministry of Human Resource Development, more than 6,20,000 Indians students went abroad in 2018-19.
Manufacturers of Jalandhar were flooded with enquiries from across the globe, primarily Europe and the US, till last month as buyers looked for alternative supply sources after China shut down factories following Covid-19 outbreak.
Most companies’ valuations and cash flows are impacted by the pandemic and they will face impairment. The government is considering the proposal and has reached out to several industry experts in the last few days to seek their opinion on the impact of such a step, people with direct knowledge of the matter said.
From virtual parties to food delivery, firms are going all out to fill the void left by water cooler conversations and cafeteria lunches.
While the number of deaths has been lower than several other countries keeping in mind India’s population, the flip side is that cases with large contact within the community have emerged, like in Bhilwara, Rajasthan, where the entire district is under watch.
Union Health Ministry, Joint Secreatry, Lav Agarwal confirmed 979 coronavirus cases in the country including 25 deaths so far. He said that in the last 24 hours the country has reported 106 new positive cases and 6 deaths. Lav Agarwal said, "All 6 deaths have been reported from 6 different states." Joint Secretary said that we are working towards identifying emerging hotspots and are implementing rigorous cluster containment strategy in these hotspots. Coronavirus outbreak: India reports 106 new positive cases and 6 deaths today
New Delhi, Mar 29 () Billionaire Gautam Adani on Sunday announced a Rs 100 crore contribution by his group's philanthropy arm to the Prime Minister's Fund to fight coronavirus outbreak.
Cash deposit and withdrawal, clearing of cheques, remittance services, government transactions and ATM services as listed as essential banking services.
Previous market crashes have shown that stocks that lead the uptick before the peak are usually the ones that correct the most. In the 2000 rout, tech stocks took a beating while many industrials suffered in 2008.
The national capital alone reported 23 fresh positive cases, taking its count to 72, while more people tested positive in adjoining Noida as also in Maharashtra and Bihar, among other states.
The economy stands upon a mountain of debt in a time when growth is nowhere in sight to service them.
Due to delays in evacuation of cargo, some cargo owners have either suspended their operations or are finding it difficult to transport goods or complete the paper work. The government has imposed a complete lockdown in the country for a period of 21 days till April 14 in the wake of outbreak of deadly coronavirus.
Referring to the Spicejet pilot's case, a letter by Indian Commercial Pilots Association (ICPA) stated that "continuing BA Tests in these circumstances is extremely dangerous" as the machine for the test remains the same and droplets or aerosols of infected pilots may infect the healthy.
Industry experts point out that for all the companies last one month has hugely impacted cash flows and that has resulted in their mark to market. Extension of the financial year may spread the bad period over more months and could help companies recover a bit say experts.
Union Bank of India will become the fifth largest state-run bank after Andhra Bank and Corporation Bank merge with it on April 1. Six banks are being merged with larger peers to get economies of scale.
India's most vulnerable, who fear dying not of the disease but rather of starvation, have decided not to wait. Unable to afford food and rent, migrant workers in the national capital have begun walking home, hundreds of miles away, as the lockdown keeps them from work.
The US-based John Hopkins University has disassociated itself with a previous study which landed into controversy for claiming that as many as 12.5 crore to 24 crore people are likely to be infected by the novel coronavirus in India.
In India, deep-seated cultural prejudices about dining with “others” are likely to become exacerbated.
"A large number of people are returning from cities they work in to their villages due to the coronavirus lockdown. I appeal to them, please stay wherever you are,". "We have seen what has happened in some of the developed countries like the US and Italy. Thankfully, India is not in that stage yet. But going into a crowd will invite risks of infection," Kejriwal said.
"We are under a lockdown and behavioural issues are very important under such situations. It is a new process. If there are any behavioural issues, lack of understanding for that we at the National Institute of Mental Health in Bangalore in collaboration with all other institutes has been trying to provide guidance.
Prime Minister Narendra Modi on Tuesday announced a three-week lockdown in the country as part of measures to curb the spread of coronavirus that has claimed over 26,000 lives globally.
Talking to ET Online, in a telephonic interview Lt Gen.Pant said, “In the past two months almost 4000 fraud portals related to Corona Virus have been created across the globe by cyber criminals and other mafia organisations.”
"Had a video conference with HRH Prince Abdulaziz, Saudi Minister of Energy and Mr Amin Nasser, President & CEO @Saudi_Aramco. We discussed about the global oil market developments and on uninterrupted LPG supplies from Saudi Arabia to India. Prince Abdulaziz assured (me) of LPG supplies in the coming days to support our domestic requirement," Dharmendra Pradhan posted on his Twitter account.
Consequently all assets such as securities and bank balance will be handed over to the clients.
Lockdowns have become a norm world over and have led the FPIs to adopt a cautious stance.
Even though the Health Ministry and Indian Council of Medical Research (ICMR) have been insisting that there is "no solid evidence" of community transmission so far, the government has started scaling up health infrastructure to deal with any situation.
In a four-page internal document dated March 27, the Invest India agency detailed efforts to find companies that can supply critical supplies. Invest India said it had contacted 730 companies for ventilators, ICU monitors, protective equipment, masks and testing kits, of which 319 firms had responded so far. PM Modi ordered everyone on Tuesday to stay at home for three weeks.
Uttar Pradesh has so far 55 confirmed cases of COVID-19 as of Saturday.
Number of coronavirus cases in India is nearing 1,000, evoking fears of community transmission.
“We aren’t trying to profiteer at the expense of landlords. As longstanding business partners, we are hopeful that landlords will extend their support in these times of unprecedented crisis,” NRAI president Anurag Katriar said.
The decision comes within days of industry body COAI writing to TRAI for granting additional time to companies to file such reports, citing massive efforts being undertaken by telecom companies to overcome "numerous operational challenges" in order to keep vital networks up and running amid the 21-day nationwide lockdown.
The initiative is being viewed as pro-active step by the government to deal with multiple challenges, which the outbreak of pandemic COVID-19 has posed and made the country to deal with emergency situation, they said, adding these groups will also work on strategy for restoring normalcy in their respective sectors.
A number of union ministers, private entities, industrialists and government organisations have responded to the prime minister's announcement and contributed to the fund.
The technologies being used against the pandemic are raising questions about excessive surveillance.
The government is hurriedly ramping up its medical infrastructure. But how much can we stretch?
Components of PPE are goggles, face-shield, mask, gloves, coverall/gowns (with or without aprons), head cover and shoe cover.
Union Health Ministry Joint Secretary, Lav Agarwal confirmed 873 coronavirus cases and 19 deaths so far. He said, “Since tomorrow, 149 COVID-19 cases have been reported along with 2 additional deaths.” Lav Agarwal said that the Health Ministry, along with the State Governments, is working towards community surveillance, rigorous contact tracing and containment strategy. “We aim to ensure that lockdown and contact tracing is practiced across the country,” he added. Health Ministry says that focus is towards the construction of dedicated COVID-19 hospitals and COVID-19 blocks along with isolation beds and required logistic to fight coronavirus pandemic. Coronavirus in India: Health Ministry confirms 149 fresh COVID-19 cases, 19 deaths
In its updated figures at 9.30 am, the ministry mentioned two fresh deaths -- one each in Maharashtra and Madhya Pradesh.
The measures aimed at countering coronavirus are mostly in the right direction but hugely inadequate, he says.
HLL Lifecare is the nodal agency for acquiring PPE for those tackling the coronavirus outbreak. Healthcare workers weren’t too impressed at the speed with which it has been moving. The last date for receipt of bids is April 15, by which time the current lockdown is scheduled to end.
Sitharaman recently said that if the disruption caused by coronavirus extends then it would suspend the use of the corporate insolvency resolution process for sometime. The finance minister had also increased the minimum amount of the default required to initiate the insolvency resolution and liquidation processes against companies from Rs 1 lakh to Rs 1 crore.
The meeting between the Finance Ministry and Reserve Bank of India (RBI) will be held through video conferencing for the first time as there is lockdown across the country. As per the Budget, the government plans to borrow Rs 5.36 lakh crore from the market in 2020-21, higher than the Rs 4.99 lakh crore estimated for the current financial year.
While a 42-year-old man, a resident of Kumbakonam, had arrived here from the West Indies, the other, a 49-year-old. had come to the city from the United Kingdom.
Prime Minister Narendra Modi announced the creation of an assistance and emergency situation relief fund where people can contribute and help in the government's fight against coronavirus.
India needs to start epidemiological data collection & analysis to fine-tune its Covid response.
According to Google Trends, coronavirus is the most popular in Goa with a score of 100 followed by Andaman & Nicobar Island (86), Karnataka (80), Meghalaya (75), and Nagaland (74). Barring Karnataka, these states have lower cases of virus infection. Maharashtra and Kerala where the maximum cases of the Coronavirus have been detected are ranked ninth and 33rd.
Sanjiv Singh, who has been overseeing refinery operations and distribution chain since the time states declared restrictions to check spread of coronavirus in mid-March, lost his 89-year-old father on March 24. Within 24-hours he was back in action, converting his parental home at Lucknow into a war room, monitoring operations and supplies to see no part of the country went dry at anytime.
Captain Amarinder said his government was also in discussion with Radha Soami Satsang Beas, which has already offered its Bhawans as quarantine facilities, to allow migrant labourers to stay there as these people would be needed for wheat harvesting in the fields in two weeks’ time.
Hours before delivering her baby, Minal Dakhave Bhosale had submitted the COVID-19 kits for evaluation.
Commenting on the same Ratan Tata said, "The situation in India and across the world is of grave concern and needs immediate action. Tata Trusts and the Tata group’s companies have in the past risen to the needs of the nation. At this moment, the need of the hour is greater than any other time. " He added that urgent emergency resources need to be deployed to cope with the crisis.
"I ask for forgiveness from my country men especialy the poor who have been asked to remain under lockdown and have to face difficulties. I understand their pain and suffering but it is essential to fight the coronavirus pandemic," Prime Minister Narendra Modi said during his monthly radio programme.
"The village in Dadri and the sectors concerned in Noida are being temporarily sealed for a period of 48 hours so that sanitisation work could be carried out there. No entry into or exit from the society or the sector would be allowed during this period except for emergencies,” Singh stated in an order.
Tech companies are helping institutions smoothen their sudden transition to an online-only teaching format.
PM Modi suggested that AYUSH medicine producers could utilise their resources to produce essential items such as sanitisers, keeping in mind the high demand for such items following the coronavirus outbreak.
As the Covid-19 outbreak hits companies hard, CFOs like Vaish are bracing for what many are referring to as the toughest phase in their careers.
Experts believe healthcare and telecom sectors are expected to perform well in this prevailing situation.
Sensex and Nifty have tumbled nearly 30% till date from their all-time highs hit in January.
According to the Reuters poll of economists taken March 25-26, India's economy will expand just 4.0% annually on a year ago in the quarter that ends on March 31, the weakest since comparable records began in early 2012. India's informal sector, the backbone of the economy, will be hardest hit as economic activity comes to a standstill.
Experts though have called on the government to consider a three-month moratorium on operators’ revenue-share commitments for the April-June quarter FY21, which would be more significant relief for the debt-laden telecom sector that is currently reeling under the impact of the adjusted gross revenue (AGR) payments crisis.
National carrier Air India and its regional arm Alliance Air are operating a host of cargo charter flights mostly with medical equipment and medicines on several routes on Saturday, an Air India spokesperson said.
Independent market expert Sandip Sabharwal says the worst could be over for global markets.
“The government has allowed airlines to carry cargo in their passenger aircraft, which are grounded at various airport, and approvals from the aviation regulator - Directorate General of Civil Aviation - is in process,” said a source, who did not want to be identified.
Many companies were hopeful that Monday would be much better as various authorities were actively trying to smoothen the flow of essential items, but some industry executives bluntly said time was running out.
The specimen for these images were taken from the throat swab of a woman in Kerala.
Prime Minister Narendra Modi on Tuesday said the nationwide total lockdown will be in place for three weeks from 12 o'clock tonight. "In view of the current situation, the nationwide total lockdown will be in place for 21 days -- three weeks," said Prime Minister Modi during his second address to the nation. "It is a kind of curfew," he said. The Prime Minister said: "If we are not able to manage the upcoming 21 days (of nationwide complete lockdown), we will be pushed back 21 years."PM Modi on coronavirus: India will be under complete lockdown for next 21 days
The Preventive Wear Manufacturers’ Association of India (PWMAI) and the Association of Indian Medical Device Industry (AiMeD) have asked the government to allow them to self-attest products in the view of the shortage of coveralls for healthcare providers.
At an India-initiated video conference of SAARC leaders on March 15, Modi suggested that health professionals of the member nations could come together to jointly fight against the coronavirus pandemic.
For a 1.3 billion-people country, the virus-positive and death cases seemed too low to warrant a drastic action.
Minal Dakhave Bhosale developed India's first Covid kit in just six weeks.
The death toll due to COVID-19 rose to 17 in the country on Friday and the number of coronavirus cases climbed to 724, according to the Health Ministry.
"For all our optimism, the bitter truth is India's covid response needs to get better than just banking on a botched-up lockdown, less than 10 covid test per million & non-existent COVID treatment & care facilities for people needing such services. India deserves better," the former JD(U) leader said.
Starting this week, Dalmia Bharat Group is organising morning Bhagavad Gita discourses through a Zoom call, where its employees working from home can tune in before they get to their work online. “Once the lockdown stops after 21 days, this may just become a way of life (in the company),” said Menon.
India's response to COVID-19 has been "pre-emptive, pro-active and graded", the govt said.
The lockdown is justified. The Covid-19 coronavirus, which can grow exponentially, was stalled in China with the help of similar lockdowns. No wonder big parts of Europe and the US are following the same model to stop the virus, writes Chetan Bhagat.
Sun Pharmaceutical Industries Ltd has committed to donate Rs 25 crore worth of Hydroxychloroquine (HCQS), Azithromycin, other related drugs and hand sanitisers to support India's fight against coronavirus pandemic.
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