Jubilant Life hits 52-week high on heavy volumes, soars 46% in 11 days. Continuing their northward movement, shares of Jubilant Life Sciences, hit a 52-week high of Rs 646, up 8 per cent on the BSE on Monday in the intra-day trade on the back of heavy volumes.
The stock of the pharmaceutical company surpassed its previous high of Rs 639, touched on January 23, 2020. At 12:06 pm, it was trading 7 per cent higher at Rs 636, as compared to a 2.3 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped an over 20-fold with a combined 4.13 million equity shares, representing a 2.59 per cent of the total equity, changing hands on the BSE and NSE so far. Mastek freezes at 20% upper circuit post March quarter earnings. Shares of Mastek were locked in 20 per cent upper circuit at Rs 346 on the BSE on Monday in an otherwise weak market after the company reported 36.1 per cent quarter on quarter (QoQ) growth in revenue in constant currency terms for the quarter ended March 2020 (Q4FY20).
The company said its financials include acquisition of Evosys and, hence, are not comparable. In comparison, the S&P BSE Sensex was down 2 per cent or 663 points at 33,117 at 11:40 am. A combined 223,000 shares changed hands and there were pending buy orders for 72,000 shares on the BSE and NSE. The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) margins improved 350 basis points to 17.3 per cent from 13.8 per cent in December 2019 quarter (Q3FY20). Consolidated net profit increased by 50 per cent to Rs 38.90 crore, while total income grew 39.9 per cent at Rs 354.20 crore over the previous quarter. The company said it added 24 new clients during the quarter.
Mumbai local trains resume for 'essential' govt staff; rules framed. The Indian Railways restarted on Monday Mumbai suburban train services for transporting essential staff identified by the government.
The Western Railways will run 73 pairs of suburban services, including eight between Virar and Dahanu Road, while the Central Railways will run 200 services – including 130 between Chhatrapati Shivaji Maharaj Terminus (CSMT) and Kasara and 70 services between CSMT and Panvel. The first suburban train started from Virar for Churchgate on Monday morning. An estimated 125,000 essential staff, as identified by the state government, is expected to travel by these trains. “These special suburban services will not be for general passengers/public & will be strictly for essential staff as identified by the State Government of Maharashtra only,” said a railways statement. Booking windows will facilitate select staff who have to show their government identity cards.
Chinese mainland reports 49 new Covid-19 cases, 39 domestically transmitted. China's health authority said on Monday that it received reports of 49 new confirmed COVID-19 cases in the Chinese mainland on Sunday, of which 39 were domestically transmitted and 10 were imported.
Of the domestically transmitted cases, 36 were reported in Beijing and three in Hebei Province, the National Health Commission said in its daily report, Xinhua reported. On Sunday, one person was discharged from hospital after recovery. No deaths related to the disease were reported, according to the commission. Delhi reports over 10,000 coronavirus cases in six days to breach 40K mark. The coronavirus tally climbed by over 10,000 and breached the 40,000 mark in just six days in Delhi.
The cases grew with an average of over 1,600 new cases on a daily basis, a sharp spike from the 79 days it took to reach the 10,000 mark. It took eight days for the number of cases to rise from 20,000 to 30,000 in Delhi, while it took 13 days for the tally to progress from 10,000 to 20,000. According to the analysis of the Delhi government data, the number of cases crossed the 30,000 mark on June 9 and it crossed the 40,000 mark on June 14. In nine hikes, petrol price goes up by Rs 5 per litre, diesel by Rs 4.87. In the ninth consecutive hike, petrol price on Monday was raised by 48 paise per litre and diesel by 23 paise a litre.
Oil companies continue to adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision. Petrol price in Delhi was hiked to Rs 76.26 per litre from Rs 75.78, while diesel rates were increased to Rs 74.26 a litre from Rs 74.03, according to a price notification of state oil marketing companies. Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT. Nepal's Upper House endorses proposal seeking to update country's new map. Nepal 's Upper House of Parliament on Sunday endorsed a proposal to discuss the Constitution amendment bill to update the country's map that incorporates parts of Indian territory.
This comes a day after the lower house of Parliament unanimously passed the constitution amendment bill to approve the new map, which includes Indian territories of Kalapani, Lipulekh and Limpiyadhura. In the second meeting of the National Assembly, Minister for Law, Justice and Parliamentary Affairs Dr Shivamaya Tumbahangphe presented the proposal along with the message from the House of Representatives. ALSO READ: It's untenable: India on Nepal passing bill to redraw political map Responding to the queries during the discussion in principle of the Bill, Tumbahangphe said, "With the passage of the Bill from House of Representatives, it is proved that all political parties come together in terms of nationality.
" Two Indian officials with Indian High Commission in Pakistan missing. Two Indian officials working with the Indian High Commission in Islamabad (Pakistan) are missing, ANI reported quoting sources.
This comes weeks after the vehicle of India's Charge d'affaires Gaurav Ahluwalia was chased by Inter-Services Intelligence (ISI) member. A bike-borne man was seen following Ahluwalia's car. In March, the Indian High Commission in Pakistan sent a strong protest note to the foreign ministry in Islamabad protesting against the continuing harassment of its officers and staff by Pakistani agencies. OnePlus 8 review: Meaningful innovations elevate experience, justify price. Smartphone makers now bring at least two models of each of their premium smartphones – one that maxes out on everything to show the maker’s innovation competence, and second that does not compromise on flagship specifications and features but cuts corners on some lesser features to keep the price low and reach the masses.
The OnePlus 8 belongs to the latter category of premium smartphones. A successor to the OnePlus 7T, the OnePlus 8 brings seasonal upgrades like Qualcomm’s flagship Snapdragon 865 system-on-chip, big-capacity battery, new design and a screen with a punch hole for front camera. However, the company has downgraded the rear camera set-up of the OnePlus 7T by taking away the 2x optical zoom telephoto sensor. WPI falls 3.21% in May, but food prices rise. Wholesale prices in the country witnessed a deflation of 3.21 per cent in May due to sharp decline in prices of fuel and power, even as food articles turned expensive.
"The annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at (-) 3.21 per cent (provisional) for May 2020 as compared to 2.79 per cent during the corresponding month of the previous year," the commerce and industry ministry said in a statement. Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April. In fuel and power basket, deflation stood at 19.83 per cent in May, as against 10.12 per cent in the previous month.
Manufactured products witnessed a deflation of 0.42 per cent in May. Due to the nationwide lockdown imposed since March 25, the ministry had released truncated WPI inflation data for April, with figures of food, primary articles and fuel and power. India's maiden natural gas exchange to start operations on Monday. Indian Gas Exchange (IGX), the country’s first natural gas exchange, will start operations on Monday at a time when a gas hub conceptualised during the first tenure of the NDA government is yet to become a reality.
IGX, set up by the Indian Energy Exchange (IEX), will offer option of both just buying the product as well as purchase along with delivery. “For normal transactions, IGX will be charging a nominal fee of Rs 5 per unit, while for delivered transactions it will be charging Rs 7,” said a person close to the development. The delivered transactions will require ensuring pipeline availability with operators, too. Big tech's behind-the-scenes bets get bigger as Covid-19 slows economy. Even as Facebook grappled this month with an internal revolt and a cascade of criticism over its refusal to take action on President Trump’s inflammatory posts, the social network was actively making other bets behind the scenes. Late one Tuesday, as attention was focused on how Facebook might handle Mr.
Trump, the Silicon Valley company said in a brief blog post that it had invested in Gojek, a “super app” in Southeast Asia. The deal, which gave Facebook a bigger foothold in the rapidly growing region, followed a $5.7 billion investment it recently pumped into Reliance Jio, a telecom giant in India. The moves were part of a spending spree by the social network, which also shelled out $400 million last month to buy an animated GIF company and which is spending millions of dollars to build a nearly 23,000-mile undersea fiber-optic cable encircling Africa. Chinese mainland reports 49 new Covid-19 cases, 39 domestically transmitted. China's health authority said on Monday that it received reports of 49 new confirmed COVID-19 cases in the Chinese mainland on Sunday, of which 39 were domestically transmitted and 10 were imported.
Of the domestically transmitted cases, 36 were reported in Beijing and three in Hebei Province, the National Health Commission said in its daily report, Xinhua reported. On Sunday, one person was discharged from hospital after recovery. No deaths related to the disease were reported, according to the commission. Coronavirus LIVE: India sees rapid rise in Covid-19 cases, tally at 333,008. Start-ups tap technology to get malls, hotels back on track amid Covid fear.
As hotels, shopping malls, commercial complexes and corporate offices resume business in an ambience of ‘new normal’, some technology powered start-ups are offering out of the box solutions to help them combat the fear of coronavirus infections. With new technologies and a bouquet of customised solutions, the start-up companies are assisting businesses to conform to the government’s ‘social distancing’ norms and insulate their air conditioning systems from the shock of virus. Franklin Templeton MF receives interest of Rs 103 cr from Vodafone Idea. Franklin Templeton Mutual Fund on Sunday said it has received an interest payment of about Rs 103 crore from Vodafone Idea Ltd, which will be distributed among investors in proportion to their holdings in the plans of the segregated portfolios. Ladakh standoff: India no longer weak, won't compromise, says Rajnath Singh. Amid a standoff with China on the Ladakh border, Defence Minister Rajnath Singh said on Sunday that India will never compromise on its "national pride", asserting that it is no longer a "weak" country and that its security capability has increased.
Speaking at a virtual rally for Jammu and Kashmir, Singh also assured the opposition that the central government will not keep Parliament or anyone in the dark about developments on the border and will share details at an appropriate time. India's maiden natural gas exchange to start operations on Monday. Indian Gas Exchange (IGX), the country’s first natural gas exchange, will start operations on Monday at a time when a gas hub conceptualised during the first tenure of the NDA government is yet to become a reality. IGX, set up by the Indian Energy Exchange (IEX), will offer option of both just buying the product as well as purchase along with delivery.
“For normal transactions, IGX will be charging a nominal fee of Rs 5 per unit, while for delivered transactions it will be charging Rs 7,” said a person close to the development. Job losses in dealerships could be worse than 2019's auto slowdown: FADA. Automobile dealers' body FADA fears that the coronavirus pandemic could result in job losses in dealerships which could be worse than what was experienced last year when over 200,000 jobs were lost due to a prolonged slowdown in the automobile industry, according to a top federation official.
The Federation of Automobile Dealers Associations (FADA), however, said a clear picture will emerge only after the end of this month when it will roll out a survey to understand how its dealer members are planning with regards to reduction of outlets and manpower. When asked if there is a fear that there could be bigger job losses in dealerships due to the Covid-19 impact than 2019 when the automotive industry was hit by a prolonged slowdown, FADA President Ashish Harsharaj Kale told PTI: "Yes, if demand doesn't pick up. India Inc's foreign borrowings plunge over 68% to $996 mn in April. Earthquake of 5.3 magnitude shakes parts of Gujarat, say officials. Govt may not privatise PSBs in FY21 over low valuations, high NPAs: Report. Privatisation of any public sector bank (PSB) during the current fiscal is very unlikely due to their low valuations and mounting stressed assets amid the COVID-19 crisis, sources said.
S&P to weigh agri reforms, easing of bad loan for future India ratings. Rating agency S&P will give credence to reforms in agriculture and labour market as well as easing of bad loan stress of banking sector while deciding future rating action on India, a senior official has said. S&P Director & Lead Analyst Sovereign & IPF Ratings APAC Andrew Wood also said return of insolvency provision under the Insolvency and Bankruptcy Code (IBC), which was suspended for at least six months, and stronger regulator framework would be important in improving the health of Indian banks.
Shah reviews steps taken by Delhi municipal bodies in meeting with Kejriwal. Union Home Minister Amit Shah on Sunday held a meeting with top functionaries of Delhi's three municipal bodies along with Lieutenant Governor Anil Baijal and Chief Minister Arvind Kejriwal to take stock of the COVID-19 situation in the national capital. This was the second high-level meeting held during the day in the wake of rising cases of the novel coronavirus. The first meeting Shah took was with Baijal, Kejriwal, Delhi Deputy Chief Minister Manish Sisodia, and senior officials of the Union Home and Health Ministries and the Delhi Disaster Management Authority.
My stand on Tata legacy hotspots is vindicated: Cyrus Mistry to SC. Actor Sushant Singh Rajput dies by suicide at his residence in Mumbai. Actor Sushant Singh Rajput is reported to have killed himself at his residence in Mumbai. He was 34. Rajput, who made his Bollywood debut with the 2013 film Kai Po Che! After PM Modi intervenes, traders say Delhi markets to remain open. Markets in Delhi will continue to remain open as the traders' body - Confederation of All India Traders (CAIT) - has decided to postpone its decision to shut down shops, after Prime Minister Narendra Modi intervened in the matter. Punjab tightens lockdown on weekends, makes e-pass mandatory for movement. Eicher Motors skids up to 6%, recovers later ahead of March quarter results. RIL recovers 6% from day's low; rights shares to list on June 15. GST Council reduces late fee on GSTR-3B filings for those with liability. PM Modi likely to hold fresh round of consultation with CMs next week. Petrol up by 57 paise per litre, diesel by 59 paise in 6th consecutive hike.
EU antitrust watchdog set to press charges against Amazon: Report. Airlines must extend credit period for two years: SC on cancelled tickets. Biocon's Semglee, an insulin glargine injection, gets US FDA approval. Pleas call for ticket refunds; SC asks govt to discuss with airlines. Coronavirus LIVE: SC notice to Delhi, Maha, TN, West Bengal over Covid beds. Trump considering suspending H1B visa over rising US unemployment: Report. Wage payments during lockdown: No action on employers till July, rules SC. RBI proposes 10-yr term for bank promoter-CEOs, 15 yrs for non-promoters. Shriram Transport Finance gains over 6% post March quarter results. Muthoot Finance hits new lifetime high, zooms over 100% from March lows. Voda Idea, Bharti Airtel fall, PSUs mixed post SC observations on AGR issue.
Govt restricts export of diagnostic kits, apparatus, laboratory reagents. Ladakh row: Indian, Chinese military commanders hold 'productive' talks. Uber India chief Parameswaran gets bigger role, to oversee ops in 9 nations. MHRD releases NIRF Rankings 2020, IIT-Madras, IISc-Bengaluru top the charts. SC asks Airtel, Vodafone Idea for road map on payment of AGR dues. Apollo Global Management, ICICI Venture to end joint venture AION Capital. Auto retail sales down by 88.87% in May, June outlook continues to be grim. MARKET LIVE: AGR demand on PSUs be withdrawn, observes SC; GAIL jumps 5% Live: Coronavirus curve in India rising; Maharashtra tally nears 100,000. Coronavirus turning point for self-reliant India, says PM Modi. Mukesh Ambani gets 552,000 shares in RIL rights issue, company says. Govt mulls package to boost demand, may spend more than budgeted FY21 capex.
By retaining India's rating S&P has taken a balanced view of the economy. S&P doesn't do a Moody's: Retains India's sovereign rating and outlook. India Inc woos labourers with healthcare, hostels to get them back at work. HPCL delays $3 bn Vizag refinery expansion over labour, monsoon: Report. Delhi will need 80,000 hospital beds for Covid patients by July: Kejriwal. Bombay Dyeing & Manufacturing Co tanks 7% as Q4 net profit plunges 96% YoY. Panacea Biotec surges 20% on pact with US firm Refana for Covid-19 vaccine. India Inc woos labourers with healthcare, hostels to get them back at work. 3 Indian institutes in world's top 200 universities but their rating dips. After a 34% surge from March low, brokerages see limited upside for markets.
Global food emergency imminent; 49 mn may fall into extreme poverty: UN. DMK MLA J Anbazhagan succumbs to Covid-19 in Chennai on his birthday. Demand v reality: A sorry state of affairs under MGNREGA in a Covid-19 year. Hero MotoCorp Q4 PAT falls 26% to Rs 613 cr, revenue at 6,333.8 cr. Liquor becomes cheaper in Delhi as govt scraps 70% Special Corona Fee. MARKET LIVE: Indices in the green, Sensex holds 34k; Hero MotoCorp dips 2% 3 Indian institutes in world's top 200 universities but their rating dips. WHO clarifies remark on asymptomatic spread, calls it 'misunderstanding' Coronavirus LIVE: India adds 9,985 cases in a day; total tally at 276,583. PVR, Inox Leisure decline up to 8% on posting losses for March quarter.
India reports record spike with close to 10,000 new Covid cases in 24 hours. IBM exits facial recognition biz as CEO calls out inequity in tech usage. As US enters recession, Trump open to another coronavirus relief package. WhatsApp may have exposed users' phone numbers on Google search: Report. Delhi hints at community transmission, but wants Centre to first admit it.
Mamata will turn 'political refugee' in 2021 polls: Shah tells BJP workers. Fuel prices hiked for third straight day; petrol costlier by 54 paise. SC gives Centre, states 15 days to take migrant workers to their homes. Coronavirus LIVE: Delhi may have 550,000 cases by July-end, says Deputy CM. India's tax-to-GDP ratio plunges to a decade low of 9.88% in FY20. L-G overrules AAP govt's order to reserve hospitals for Delhi residents. Indian economy to contract by 3.2% this fiscal due to Covid-19: World Bank. After deposit rate cuts in May, SBI now slashes lending rates by 25-75 bps. YES Bank gains 11%, hits 10-week high as Crisil affirms bonds rating at BBB. Exide Industries slips 8% on weak March quarter results. RIL climbs around 3%, hits new high as Co to sell 1.6% stake in Jio to ADIA. IndusInd Bank gains 8% as promoters set to pick additional shares. Industrialists ride bullock carts in MP to show poor condition of roads.
MG Motor India, Tata Power join hands to deploy superfast chargers for EVs. Samsung heir appears in court, awaits decision in accounting fraud case. Corona treatment in Delhi: Aadhaar, voter ID accepted as residence proof. We paused to save lives, now we need to save livelihoods: Sajjan Jindal. Petrol, diesel price hiked by 60 paisa per litre for second straight day. ED searches Cox & Kings promoter offices, residences in YES Bank case.