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Business / Rediff

Auto cos see some light at end of lockdown tunnel

Once the 21-day lockdown is lifted, which may happen in phases, those who have been contemplating purchasing a car may actually do it, said analysts. Thanks to social distancing norms and rising hygiene awareness, daily commuters may ditch public transport and shared mobility solutions like Ola and Uber. Many are likely to prefer the confines of a car over roughing it up in crowded public transport services such as a metro, local sub-urban trains and buses, they said.

4 Apr 2020 12:04 pm
To allow essentials Centre widens grocery inclusions

In the last one week several companies have had to face the hurdle of making a distinction between what's essential and what's not. To help them the government has now clarified that grocery would include hygiene products such as hand wash, soaps, disinfectants, body wash, shampoo, surface cleaners, detergents, tissue paper, toothpaste, oral care, sanitary pads, diapers, chargers and battery cells, etc.

4 Apr 2020 11:46 am
Millions of jobs can go, apparel exporters sound alarm

Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.

4 Apr 2020 10:55 am
Coronavirus: 'Why is the government so stingy?'

'The Centre doesn't think of the states. We have to manage the crisis.'

4 Apr 2020 10:50 am
India's GDP growth seen at 30-year low

Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.

3 Apr 2020 10:50 pm
India Inc lines up as demand for rapid testing grows

The test used now, called PCR (or polymerace chain reaction), uses a nasal or throat swab sample and identifies the virus. These tests take at least five hours to give results. The rapid test, on the other hand, uses a blood sample and gives results based on detecting the presence of certain antibodies that react to the coronavirus protein.

3 Apr 2020 7:09 pm
Sensex spooked by coronavirus, tumbles 674 points

Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.

3 Apr 2020 4:46 pm
Grofers to hire 10,000 people to speed up deliveries

Online grocery platform Grofers is looking at hiring 10,000 people for its warehouses and last-mile delivery to clear pending orders quickly and meet the spike in orders on account of the nationwide lockdown. We are looking to hire 10,000 people for our warehouses and last-mile delivery. This hiring will happen across all 26 cities that we are present in, bigbasket Vice President-Human Resources Tanuja Tewari told PTI.

3 Apr 2020 3:59 pm
Most ecommerce issues resolved: DPIIT secretary

The government has held several meetings with e-commerce players to resolve issues arising due to the lockdown, and now witnessing improvement on them daily, a top government official said on Friday. Secretary in the department for promotion of industry and internal trade (DPIIT) Guruprasad Mohapatra said that with lot of follow-ups on their issues, relaxations were given to them by the home ministry.

3 Apr 2020 3:03 pm
Lockdown pushes up TV viewership to record levels

News viewership was the biggest gainer during the first full week of lockdown, growing 298 per cent versus the pre-COVID period between January 11 and 31. Ramayana, whose rerun has begun on Doordarshan, was the top-rated show on Saturday and Sunday.

3 Apr 2020 1:55 pm
Domino's to deliver ITC atta, spices and also hot pizzas

A combo pack of ITC-owned Aashirvaad atta and spices including chili, coriander and turmeric powders will be available on Domino's app. The service will be available in Bengaluru first and will then be expanded to Noida, Mumbai, Kolkata, Chennai and Hyderabad.

3 Apr 2020 12:31 pm
More trouble brews for Indian tech companies

Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.

3 Apr 2020 11:37 am
No lockdown for aerospace, defence firms

'For Indian firms supplying global majors, coronavirus is both a threat and an opportunity.'

3 Apr 2020 11:16 am
How COVID-19 could change India's political economy

'While the poor have little say in shaping India's intellectual or public discourse, they do have a significant role in deciding political outcomes,' points out Roshan Kishore.

3 Apr 2020 8:21 am
Lockdown leads to lower air pollution levels

The nationwide 'Janta Curfew' followed by the 21-day lockdown to combat the coronavirus outbreak have led to a significant reduction in pollution in the country, with 91 cities recording air quality in the 'good' and 'satisfactory' category on March 29, a Central Pollution Control Board report has stated. Travel restrictions and the closure of industries have helped reduce the pollution level, it said.

2 Apr 2020 5:11 pm
Housing sales, demand for office space may shrink

In a base case, the consultant said that sales could drop 25 per cent to 1.96 lakh units this year from 2.61 lakh units in 2019 across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.

2 Apr 2020 4:35 pm
Refunds to come slow as airline revenues choke

International airlines are offering affected passengers an option of refund, vouchers, discounts on future bookings, and the opportunity to hold tickets for up to two years following travel bans.

2 Apr 2020 1:29 pm
Anand Mahindra's mantras for a post-coronavirus world

Terming the coronavirus pandemic as a crisis of a magnitude that we have never faced before, Mahindra group chairman Anand Mahindra on Thursday asked employees of the conglomerate to use the lockdown period to relook at their personal and professional way of life to prepare for the future and to serve the post corona world. In a letter to the over two lakh employees of the group, Mahindra reiterated what he had suggested during the last global recession on how to use the down time to Reboot, Rei

2 Apr 2020 1:28 pm
Manufacturing sector impacted by coronavirus in March

The country's manufacturing sector activity grew at the slowest rate in four months during March, hampered by softer rises in new business as international demand faltered owing to the coronavirus pandemic, a monthly survey said on Thursday. The headline seasonally adjusted IHS Markit India Manufacturing PMI fell to 51.8 in March, from 54.5 in February, signalling the slowest improvement in business conditions since November 2019. This is the 32nd consecutive month that the manufacturing PMI has

2 Apr 2020 12:22 pm
'Lockdown should be extended for another 15 days'

'In the first phase, you might allow 30 per cent of the workforce to come in and see how it goes,' says industrialist Harsh Goenka.

2 Apr 2020 11:54 am
Moody's changes outlook for Indian banks to negative

It said banks' asset quality will deteriorate across the corporate, small and medium enterprises and retail segments, leading to pressure on profitability and capital.

2 Apr 2020 11:16 am
'Number of deaths in India is not alarming so far'

'Unless it becomes really a big epidemic in India where a huge number of people are getting sick and lakhs of people dying, I do not see a major impact on the insurance sector.'

2 Apr 2020 9:44 am
'Can government play with people's money?'

'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'

2 Apr 2020 8:59 am