Large companies such as JSW Steel Ltd, Tata Power Ltd and Piramal Enterprises Ltd are among at least 328 firms that have applied for a loan moratorium, data compiled by rating agency Icra Ltd showed. Most of the applicants have a relatively safe credit rating of AA, or lower. While some companies could be facing … Read more
Mumbai: After mounting an effort to rescue Yes Bank last month, three private sector lenders have already sold part of their stakes between 17 March and 31 March, showed shareholding data from BSE. The highest number of shares were sold by Federal Bank at 5.86 crore, followed by Kotak Mahindra Bank at 4.72 crore and … Read more
The process of “unwinding” the lockdown imposed to contain COVID-19 has already begun, and most sectors of the economy will be open by May 3, Principal Economic Adviser Sanjeev Sanyal told members of the PHD Chamber of Commerce and Industry via a video-conference call. “Well before the rest of the world is out and about, … Read more
Mumbai/New Delhi: An interim order by the Delhi high court restraining coercive action against Indiabulls Housing Finance Ltd for its inability to repay bondholders has raised fears among mutual funds that more debtors could take the same course. The Indiabulls counsel cited the Reserve Bank of India’s (RBI) 27 March circular on loan moratorium and … Read more
Economic engine is halted, panic is unprecedented. Road to recovery is going to be anything but easy.
As news flows in from Beijing that a Chinese research firm has become the first organisation to enter phase II of clinical trials in the global race to find a vaccine for the coronavirus, India, too, is gearing up to develop its indigenous variant soon. With vaccines of some firms already in the animal trial … Read more
MUMBAI/NEW DELHI: The government has permitted manufacturing and other industrial establishments to operate from April 20, but the big question is how will they bridge the gap in labour supply? A large section of migrant workers engaged in contract labour, e-commerce and logistics operations and other project-related activities — estimated at around 5 crore — … Read more
Bharat Biotech is getting into development and testing of a vaccine against COVID-19 called CoroFlu as part of an international collaboration of virologists and vaccine makers. CoroFlu is a one drop COVID-19 nasal vaccine built on a flu vaccine “backbone” that has been shown to be safe and well-tolerated in humans, in Phase I and … Read more
Unprecedented times… Some key points to consider before deciding what to do and what not to !