 "Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors")
 "How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution")
Stock Market Today LIVE Updates: Benchmark indices off opening lows; Mahindra surges, Cipla among top gainers Asian stock futures were under pressure on Wednesday after a late, sharp sell-off on Wall Street and as oil prices slumped under pressure from swelling global supplies. Hong Kong futures were down following two days of gains. Australian shares were expected to open lower as warnings of an economic slump and a spike in unemployment due to the coronavirus pandemic dampened sentiment. Nikkei futures were down 0.37 percent at 2319 GMT. The Nikkei 225 index closed up 4.24 percen at 18,576.3 on Tuesday as the Japanese government promised a near-$1 trillion stimulus package - equal to a fifth of its gross domestic product - to address the impact of the coronavirus pandemic. The S&P 500 lost 4.27 points, or 0.16 percent, to 2,659.41, closing near its session lows and giving up an earlier gain of as much as 3.5 percent on Tuesday. The Nasdaq Composite dropped 25.98 points, or 0.33 percent, to 7,887.26 and Dow Jones Industrial Average fell 26.13 points, or 0.12 percent, to 22,653.86. After US stock markets closed, President Donald Trump said the United States may be getting to the top of the coronavirus curve. [caption id=“attachment_8115531” align=“alignleft” width=“380”]  Representational image. News18[/caption] The Trump administration asked Congress for an additional $250 billion in emergency economic aid for small US businesses reeling from the pandemic. New York state, the US epicenter of COVID-19, is nearing a plateau in the number of patients hospitalized, Governor Andrew Cuomo said, a hopeful sign even as deaths in his state and neighboring New Jersey hit single-day highs. The novel coronavirus has infected more than 1.3 million people and killed over 76,000 globally, the latest figures compiled by Reuters show. Though the numbers are still rising in many highly populated countries, tentative improvements have given hope. “While the virus’ ‘curve is flattening’, the economic effects of the corona crisis will linger for years in our view,” Commonwealth Bank of Australia economist Joseph Capurso said in a morning note. “Economies will take time to re‑open, some businesses will not re‑open, and unemployment will take years to return to levels reported at the end of 2019.” Oil prices also gave up early gains to fall sharply as weekly data showed a crude glut grew more than expected. Hopes the world’s biggest producers would agree to cut output were overtaken by anxiety that a deal would not emerge. Gold prices retreated after touching a 3-1/2-week high, in response to a stabilization in Asian and European equities trade. Demand for gold, seen as a store of value, has jumped in recent weeks as governments around the world roll out stimulus packages that effectively dilute their currencies. Debt trading conditions remain challenging but some measures of liquidity in the $17 trillion US Treasury market are almost back to normal, thanks to the Federal Reserve’s giant purchases. Without the Fed’s intervention, analysts have been concerned that liquidity would rupture and market volatility would spike again. The Fed has bought more than $1 trillion in Treasuries over the last three weeks, helping calm markets.
Stock Market Today Latest Updates: Market gives up morning rally, Sensex ends below 30,000-mark; TCS, Titan among major losers
Stock Market Today LIVE Updates: Benchmark indices off opening lows; Mahindra surges, Cipla among top gainers
 "Stock Market Today Latest Updates: Market gives up morning rally, Sensex ends below 30,000-mark; TCS, Titan among major losers")
Market gives up morning rally, ends in red; Sensex below 30,000-mark
The market gave up the strong rally in the morning and ended in the red. The Sensex crossed 31,000-mark while Nifty went past 9,000-level in the morning trade on Wednesday.
The Sensex fell 173.25 points or 0.58 percent to 29893.96 while the Nifty was down 43.45 points or 0.49 percent at 8748.75 at close.
TCS, Titan, ICICI Bank, SBI, Bharti Airtel and ITC were the major losers in the Sensex pack.
The gainers included SunPharma, NTPC, IndusInd Bank, Bajaj Finance, Maruti and Hero MotoCorp
As many as 1,478 shares advanced, 845 shares declined, and 156 shares remained unchanged.
#MarketAtClose | Market fails to hold opening hour surge; Sensex & Nifty down 0.5% each; Sensex slips 1,334 points, Nifty 383 points & Nifty Bank 1,378 pts from highs pic.twitter.com/uf5TZxQ7b4
— CNBC-TV18 (@CNBCTV18Live) April 8, 2020
Grofers to hire 5,000 people over 2 weeks to ramp up capacity
Online grocery platform Grofers is looking at hiring 5,000 employees to ramp up its capacity to meet the spike in orders amid the nationwide lockdown.
The company has also partnered with resident welfare associations (RWAs) of over 100 societies across metros to make essentials available to a larger number of people amid the 21-day lockdown imposed to contain the spread of COVID-19.
Outlining the steps taken by the company over the last three weeks, its co-founder and CEO Albinder Dhindsa said the Grofers app is seeing over 1.5 million people trying to order daily.
“Everyday our app is seeing over 1.5 million people trying to order. Given the constraints on how many people we can cater to, we are only able to serve 1 out of 8 customers today…(we) are working on adding more capacity to make this work for more people,” he said in the company blog dated 7 April.
Shake-out in electric two, three-wheeler segment expected in short term
The coronavirus pandemic and the ongoing lockdown will lead to shake-out in electric two and three-wheeler industry with smaller players unable to survive the “extreme short term” folding up, according to Society of Electric Vehicle Manufacturers (SMEV).
However, in the long run there is a silver lining as electric vehicles will find more acceptance with people now realising how air quality and environment has improved during the stay-at-home period with internal combustion engines staying off the roads, SMEV Director General Sohinder Gill told PTI.
“It is a day-to-day operation these days and monitoring being done everyday basis because in the network across India all shutters are down, which means for the last 25 days the retail is zero,” he said when asked about the situation on the ground at present.
Apart from the uncertainty of when the lockdown will be lifted, he said it is also unclear if the customers will really come back to showrooms as discretionary spends will always be secondary.
Fuel demand likely to fall 40% in April: Report
The fuel demand, which witnessed a fall by around 20 percent in March amid the lockdown, likely to decline further to 40 percent in April, impacting pricing and increasing borrowing cost for oil marketing companies, according to a report.
The three-week national lockdown ending 14 April has seen individuals remaining indoors, shops and businesses shut, and vehicular movement, including the Railways, airlines, trucks and private vehicles, remaining off the roads.
According to a report by India Ratings, the overall demand for fuel has come down by around 20 per cent, while capacity utilization levels have fallen to 50 percent in March.
Typically, refining operations under 40 percent capacity utilisation become unviable due to higher fixed operating expenses. However, capacity utilisation has remained high for OMCs whose sales to own production ratio is significantly high, as they lowered external purchases while ensuring their refineries run at full utilisation, the report said.
Extend lockdown period to contain Covid-19: CAIT
The Confederation of All India Traders (CAIT) has urged the Centre to extend the lockdown period to curb the spread of COVID-19.
Accordingly, CAIT said that it made this recommendation based on a survey conducted with senior trade leaders of all States.
“Although the traders will be facing several trading, economic and financial challenges, yet in the interest of the Country, the traders are well prepared to extend best services to the nation,” the confederation said in a statement.
Snowman Logistics says warehouses fully operational
Snowman Logistics on Wednesday said all its warehouses are fully operational amid the nationwide lockdown to contain the coronavirus outbreak.
“The business of Snowman Logistics Ltd (Snowman) is considered under the ‘essential services’ category as per the Ministry of Home Affairs (MHA), and accordingly all the warehouses of the Company are functional and fully operational,” the company said in a filing to BSE.
The company remains committed to providing support for the storage and distribution of essential goods, especially food and pharmaceutical products, it added.
The business of the company has not been adversely affected and demand for storage has increased, the filing said. This increase has come in from various segments such as seafood, meat, poultry, butter and healthcare products.
RIL’s net debt to fall despite struggling energy, retail demand
Billionaire Mukesh Ambani-led Reliance Industries Ltd’s net debt will fall even if energy and retail demand struggles for six months and the planned asset sales are delayed, analysts said.
Also, RIL can re-prioritise investment, potentially slowing capex by up to a third. Beyond COVID-19, RIL emerges stronger as competitors face high debt challenges and slow investments, Morgan Stanley said in a research report.
With the outbreak of coronavirus impacting economies globally, RIL faces multiple challenges — oil prices have declined along with a fall in global oil product demand as a result of the lockdown across India and multiple geographies, potential slowdown in fashion/electronics demand for its retail segment, slower monetisation of telecom investments, and still relatively high debt post the investment cycle.
Consequently, RIL’s share price has dropped 21 percent year-to-date, but still out-performed the market by 7 percentage points.
Flight curbs will be lifted once coronavirus in control: Hardeep Singh Puri
India will remove its suspension of domestic and international commercial passenger flights once it is confident that the spread of coronavirus has come under control, sad Civil Aviation Minister Hardeep Singh Puri on Wednesday.
“My heart goes out to people who are facing problems due to restrictions put in place on domestic & international flights, pursuant to the situation arising out of the timely announcement of a nationwide lockdown,” the minister said on Twitter.
India has imposed a 21-day lockdown from March 25 to curb the coronavirus pandemic. Consequently, all domestic and international commercial passenger flights have been suspended for this time period.
However, cargo flights, offshore helicopter operations, medical evacuation flights and special flights permitted by Indian aviation regulator DGCA are permitted to operate during this lockdown.
Hospitality firms launch slew of initiatives to help in times of COVID-19
Leading hospitality firms ITC Hotels, Radisson Hotel Group and Apeejay Surrendra Park Hotels are taking a slew of initiatives to serve healthcare providers and community at large in times of the coronavirus outbreak in the country.
While in New Delhi, ITC Maurya and Sheraton have been providing over 1,500 meals daily for distribution to migrant workers; in Bengaluru, ITC Gardenia is lending its support with 1,000 food packets daily for 15 days (15,000 meals) to Municipal Corporation, ITC Hotels said.
In Mumbai, ITC Grand Central has made arrangements to deliver meals to doctors in MG Hospital. Food has also been catered to doctors at the Kasturba Hospital in Mumbai by ITC Grand Central, it added.
In Lucknow, Fortune Hotel is also lending assistance through the provision of more than 1,000 meals per day. This initiative will be progressively rolled out in other metros including Kolkata, Chennai and Hyderabad, ITC Hotels said.
Adani Gas slashes CNG, domestic PNG prices with effect from 9 April
#JustIn | Adani Gas reduces prices of CNG & Domestic PNG with effect from April 9 pic.twitter.com/mAQVE2TsIz
— CNBC-TV18 (@CNBCTV18Live) April 8, 2020
Market trims losses, Nifty holds 8,700-mark
The benchmark indices recovered from the losses in the afternoon session as the Sensex was trading 56.36 points or 0.19 percent lower at 30,010.85 while Nifty was down 5.05 points or 0.06 percent at 8,787.15 at around 2.45 pm.
Titan and TCS were the top losers in the the Sensex pack.
Rupee settles 70 paise lower at 76.34 against US dollar
The rupee settled 70 paise lower at 76.34 (provisional) against the US dollar on Wednesday amid rise in coronavirus cases in the country and weak domestic equities.
Forex traders said rising brent prices and firm US dollar index also weighed on the local unit.
At the interbank foreign exchange, the rupee opened weak at 75.83, then lost further ground and finally settled for the day at 76.34, registering a fall of 70 paise over its previous close.
On Tuesday, the rupee had settled at 75.64 against the US dollar.
Germany tightens rules on foreign takeovers
Germany’s government agreed on Wednesday to tighten rules to protect domestic firms from unwanted takeovers by investors from non-European Union countries, two government sources said.
The move comes at a time when Europe’s biggest economy, and the EU as a whole, is reconsidering relations with China in the face of increased investment in critical sectors by Chinese state-owned enterprises.
In future, transactions which have implications for German security should be provisionally put on hold pending a final decision.
Gold rises on coronavirus worries, firm dollar limits gains
Gold prices gained in volatile trade on Wednesday amid weakening appetite for risk as rising deaths dampened hopes for a swift containment of the novel coronavirus.
Spot gold ticked up 0.2 percent to $1,651.51 per ounce, after climbing to its highest since 10 March on Tuesday at $1,671.40. US gold futures rose 0.4 percent to $1,689.80.
Honda back to work in China’s Wuhan
Temperature checkpoints and posters telling workers to keep more than a metre apart at Japanese automaker Honda Motor Co’s reopened plant in the Chinese city of Wuhan show how the coronavirus has created a new normal on the factory floor.
The plant, a Honda joint venture with Dongfeng Motor Group was shut in late January when authorities ordered a lockdown in Wuhan in a bid to snuff out the coronavirus, which emerged there late last year.
It reopened on March 11 to resume operations in stages and is now back to pre-virus production levels, Li Shiquan, assistant director of the joint venture’s No. 2 final assembly plant, told reporters on Wednesday.
Returning workers were asked to report where they had been since the epidemic started and temperature checkpoints were set up, Li said.
Thermal power PLF could fall below 55% level in FY21
Thermal power plant load factor or capacity utilisation could fall below the ideal 55 percent level in the current fiscal due to the impact of COVID-19, India Ratings and Research (Ind-Ra) said in a report.
Ind-Ra will assess the impact of COVID-19 on the power sector, including generating and distribution companies, in two series. The first in the series is the impact on generators (gencos).
The rating agency estimates the pandemic could lead to the thermal plant load factor (PLF) falling below 55 percent for 2020-21, closer to the technical minimum standards, on account of a gradual ramp-up in industrial load and the already muted electricity demand witnessed in the pre-COVID scenario.
According to the report, electricity demand during April-February period of the last fiscal grew by a mere 2.1 percent year-on-year, while the loss of industrial load during the latter half of March 2020 has resulted in further moderation in electricity demand growth.
India’s coal import drops over 27% to 16 MT in March
India’s coal import in March stood at 15.74 million tonnes (MT), down 27.5 percent over last year, due to restrictions imposed at various ports in the wake of coronavirus outbreak in the country.
The country had imported 21.72 MT of coal in March last year, according to a provisional compilation by mjunction services based on monitoring of vessels’ positions and data received from shipping companies.
However, the country’s coal import registered an increase of 3.2 percent to 242.97 MT in 2019-20.
“On a progressive basis, total coal and coke imports during 2019-20 (April 2019-March 2020) stood at 242.97 MT (provisional), about 3.24 per cent higher than 235.35 MT imported during the previous fiscal (April 2018-March 2019),” it said.
ClearTax launches ‘Power of 21’, e-learning course on taxes
Cleartax, a Fintech Saas company, has launched a new e-learning course ‘Power of 21’. The course is designed to help CAs, SMEs, and tax professionals dive into the basics of GST and direct taxes and brush up their tax compliance skills.
The programme is scheduled to run from 1-21 April with 21 live webinars scheduled every day, the company said.
These webinars will cover various topics such as basics of GST, ITC, exemptions, reverse charge, and the measures taken by the government to help businesses overcome the impact of lockdown due to COVID-19. It will also empower businesses in planning their compliance during the lockdown period.
The webinars will also cover case studies on the impact of GST across different business sectors. One can use this link to register for the Power of 21 programme.
Hyundai integrates entire sales network with online sales platform
Hyundai Motor India Limited (HMIL) on Wednesday said it has integrated its entire sales network of over 500 dealerships across the country with its recently introduced online sales platform.
The company’s online sales platform — Click to Buy — offers an end-to-end retail experience to its customers.
Hyundai had launched a pilot phase of the initiative with few dealers of Delhi-NCR in January 2020.
All Hyundai models including the new Creta and Verna are available on the Click to Buy website that acts as an additional sales channel for Hyundai dealerships, HMIL said in a statement.
Essar Ports cargo handling jumps over 23% to 49.22 MT in 2019-20
Essar Ports on Wednesday said its cargo handling grew over 23 per cent to 49.22 million tonnes (MT) in 2019-20.
Essar Ports is one of the country’s largest private sector port and terminal developers and operators and claims to have invested Rs 11,000 crore in developing world-class terminals in three states.
“Essar Ports’ business, which operates four terminals on the east and west coasts of India, has registered a 23.5 per cent growth in cargo volumes in FY 2019-20, with a throughput of 49.22 million tonne (MT),” the company said in a statement.
I-T Department cautions against breach in e-filing accounts
The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cyber security wing.
“If you think your e-filing account many have been compromised or accessed in an unauthorised manner, then you may be a victim of cybercrime,” the department said in an advisory.
“Please report the incident to the concerned police or cyber cell authorities as a first step,” it said.
The e-filing account of an individual or entity is accessed by logging on to the web portal of the department — https://www.incometaxindiaefiling.gov.in.
A senior official said the advisory has been issued in the wake of an increased vulnerability and attacks on online systems as the country and the world battle the COVID-19 pandemic and more online systems are being used due to a major scaling down of human interface.
Market in red as Sensex falls over 250 points
The benchmark indices were trading in the red as the Sensex fell 278.24 points or 0.93 percent to 29,788.97 while Nifty was down 8,711.10 points or 81.10 percent at 8,711.10 at around 2 pm.
TCS, Titan and IndusInd Bank were the top losers in the Sensex pack losing over 3 percent.
Border jams delay supply of toilet paper’s only ingredient
As several European borders limit travel to stop the spread of COVID-19, two of the world’s biggest pulp makers say transportation logjams are delaying shipments of the raw material – the only ingredient in the toilet paper that people are hoarding to weather quarantines.
In March, countries including Norway, Germany and Spain shut their borders to non-essential travel. Freight can still pass through, but enforcing the new rules holds up deliveries to cargo trains and vessels bound for warehouses and factories in North America and China.
As a result, Finland’s Metsä Fibre and Sweden’s Södra Cell International told Reuters that truckloads of pulp going through Europe are getting caught in traffic jams for hours, or even a couple of days.
Reliance General Insurance launches COVID-19 protection cover
Non-life insurer Reliance General Insurance on Wednesday launched a COVID-19 protection insurance scheme, which offers 100 per cent of the sum-insured in lump sum on positive diagnosis of coronavirus.
In case a person is quarantined, the plan offers 50 percent of the sum-insured during that period.
The plan has a policy period of one year and the waiting period is for 15 days before one can claim against the policy, according to a statement by the company.
“We have designed this product to reduce the financial implications this pandemic can bring to an individual, by offering them a lump sum policy, irrespective of the treatment cost,” the company’’s Executive Director and CEO Rakesh Jain said.
The plan will cover anyone aged between 3 months and 60 years, for a sum-insured option from Rs 25,000 to Rs 2 lakh.
German economy likely contracted by record 9.8% in second-quarter: Report
Europe’s largest economy probably shrank by 9.8 percent in the second quarter, its biggest decline since records began in 1970 and more than double the decline seen during the global financial crisis in 2009, Germany’s leading institutes said on Wednesday.
The top economic research institutes said that was due to the lockdown measures introduced to help slow the spread of the coroanvirus. They said the economy probably shrank by 1.9 percent between January and March.
As Reuters previously reported from sources, they said the German economy is likely to shrink by 4.2 percent this year and grow by 5.8 percent next year.
Rupee near record low against dollar
#Rupee approaches record low against the US dollar pic.twitter.com/FzY9LSsH2X
— CNBC-TV18 (@CNBCTV18Live) April 8, 2020
Market surges in early session on global cues
Tracking global cues, the market surged in the early session amid indications that a nation-wide lockdown could be extended, said Sundar Sanmukhani, head of fundamental research desk, Choice Broking.
“Gains in auto, FMCG, pharma and banking stocks led to the upmove. Market paired some early gains and were trading up with 0.8 percent gain as losses in Index heavyweight stock like TCS and RIL dragged the market lower,” he said.
Sectoroally all indices were trading in green with pharma being top gainer.Corona virus impact will continue to keep market volatile going ahead, Sanmukhani added.
Benchmark indices remain volatile, Nifty holds 8,800-mark
The benchmark indices remained volatile in the afternoon session and was trading in the green after slipping into the red zone for some time.
Sensex rose 91.64 points or 0.30 percent to 30,158.85 while Nifty was up 33.35 points or 0.38 percent at 8,825.55 at around 1.20 pm.
French economy shrinks 6% in first-quarter
France’s economy likely contracted 6 percent in the first quarter from the previous three months as a nationwide lockdown due to the coronavirus outbreak shut down vast swathes of the economy, the central bank estimated on Wednesday.
That would be the biggest contraction on a quarterly basis since World War II, surpassing the previous record of -5.3 percent in the second quarter of 1968 when France was gripped by civil unrest, mass student protests and general strikes.
France has been subject to stay-at-home orders since 17 March that officially end on 15 April, although the government has warned they could very well be extended if judged prudent.
A typical week of confinement in March saw economic activity reduced by nearly a third, the central bank said in an analysis of the economic fallout from the outbreak.
IndusInd Bank gives up gains
#CNBCTV18Market | IndusInd Bank gives up gains as it slips more than 16% from the high point of the day pic.twitter.com/t5k0f57h3M
— CNBC-TV18 (@CNBCTV18Live) April 8, 2020
Britain eases rules to speed up company capital raising
Britain’s markets watchdog set out temporary measures on Wednesday to help companies raise cash quickly to get through the epidemic that has shuttered much of the economy.
The Financial Conduct Authority (FCA) said it was likely that many companies will turn to capital markets to raise money to support the recovery to come.
Under Britain’s lockdown, no more than two people can meet, making it far harder to obtain shareholder approval for a transaction under existing rules.
“In addition, the notice period for general meetings adds to transaction timetables and might also jeopardise an issuer’s ability to complete critical fundraising transactions quickly,” the FCA said.
Market slips into red Sensex falls 24 points, Nifty below 8,800-mark
Market gave up the morning gains and slipped into the red in the afternoon trade.
Sensex fell 23.53 points or 0.08 percent to 30,043.68 while the broader Nifty was down 3.85 points or 0.04 percent at 8,788.35 at around 12.50 am.
Govt likely to pay Rs 20,000 cr pending GST compensation to states: Report
In a major relief in the wake of 21-day lockdown due to coronavirus outbreak, the Centre is expected to pay Rs 20,000 crore in pending Goods and Service Tax (GST) compensation to states soon, said a news report.
The financial aid is from the Consolidated Fund of India, not from the compensation cess, said a report in Business Standard.
Apart from this, the finance ministry and the Prime Minister’s Office (PMO) are reportedly planning another stimulus package and it may be announced soon, the report said.
“The revenue department has been authorised to clear Rs 20,000 crore in GST compensation dues to states,” a top government official was quoted as saying in the report.
Pandemic may take a toll on domestic steel players’ expansion plans: Experts
The outbreak and spread of the COVID-19 pandemic may adversely impact the expansion plans of domestic steel makers, according to experts.
Indian players had been working on expansion plans in line with the government’s ambitious target of scaling up the total steel making capacity to 300 million tonne per annum (MTPA) by 2030.
Many steel makers in India have scaled down their production by up to 50 per cent amid the nationwide lockdown in the wake of the pandemic.
Until now several ratings agencies have been pointing out that the spread of coronavirus has adversely affected the steel markets across the world including India in-terms of prices, profit margins, affecting raw material supply chain, demand and building up of inventories.
Britain’s Tesco says coronavirus costs may reach $1.1 billion
Britain’s biggest retailer Tesco expects to take a hit of up to 925 million pounds ($1.1 billion) from the costs of dealing with the coronavirus pandemic and warned it was unable to give a profit forecast for this financial year.
However, the supermarket group said on Wednesday that if customer behaviour returned to normal by August, it was likely the extra expenses – mainly related to staff and operations costs – would be offset by higher sales and relief from a business tax introduced by the government to help companies.
“There are significant extra costs in feeding the nation at the moment but … Tesco is a business that rises to a challenge and this will be no different,” CEO David Lewis said, as the company reported a 14% rise in underlying operating profit for the year ended Feb. 29, broadly in line with expectations.
Online tutoring platform Vedantu launches 21-day learning challenge
Vedantu, online tutoring platform, has launched its ‘21-day learning challenge’ to keep people motivated and engaged.
They have collaborated with different social media influencers from various walks of life like Hritik Roshan, Jannat Zubair, and Sania Mirza to name a few.
Anybody can take up this challenge where a person picks up a skill and learns it over the course of 21 days. The person can post the same( video or picture) showcasing their new talent on different social media platforms with the hashtag #Vedantu 21 Day Learning Challenge.
Sensex up 226 points, Nifty up 8,800-mark in afternoon trade
Market continued to shed the morning rally as Sensex was trading 225.67 points or 0.75 percent 30,292.88 while Nifty was up 67.05 points or 0.76 percent at 8,859.25 at around 12.25 am.
Adani Green Energy shares jump 5% after Total SA deal
Shares of Adani Green Energy gained 5 per cent on Wednesday after Total SA said it has invested Rs 3,707 crore in a solar energy joint venture with the domestic firm.
The scrip jumped 4.90 percent to Rs 166.80 on the BSE. On the NSE, it gained 4.97 percent to Rs 166.85.
Total SA on Tuesday said it has invested Rs 3,707 crore to set up 50:50 joint venture with Adani Green Energy Ltd (AGEL) through its step-down subsidiary.
The closing of the transaction in the current environment reinforces the strength of the relationship between the partners and further underscores robust climate commitment of both partners, it stated.
CRISIL postpones AGM due later this month
Credit rating firm Crisil on Wednesday said it has postponed its annual general meeting, which was scheduled for later this month, due to the coronavirus pandemic.
The company’s 33rd annual general meeting (AGM) was to be held on 21 April.
“The prevailing lockdown and restrictions on mass congregations in Mumbai, which commenced on March 21, 2020 in view of the COVID-19 pandemic, constrained the company from fully completing the dispatch of physical copies of the annual report to our shareholders,” CRISIL said in a regulatory filing.
It also said the current circumstances do not allow a smooth and safe conduct of the AGM and in the safety of all stakeholders, in keeping with government advisories on COVID-19, the board of directors has decided to postpone the AGM.
Rupee slips below 76 against dollar
#CNBCTV18Market | #Rupee slips to day's low, trading past 76/$
— CNBC-TV18 (@CNBCTV18Live) April 8, 2020
Note: Refer the chart as per Dollar pic.twitter.com/Ipt0chcI0J
Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions
Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.
More Impact Shorts "Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment")
 "From governance to tourism, how Gen-Z protests have damaged Nepal")
 "Did Russia deliberately send drones into Poland’s airspace?")
 "Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike")
 "Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment")
 "From governance to tourism, how Gen-Z protests have damaged Nepal")
 "Did Russia deliberately send drones into Poland’s airspace?")
 "Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike")
](https://images.firstpost.com/wp-content/uploads/large_file_plugin/2020/03/1583298309_SENSEXDOWN.jpg){kind=link}
Top Shows
