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Stock Market Latest Updates: Indices nearly 3-month high, Sensex jumps over 500 points, Nifty close to 10,000-mark; Bajaj Finance, HDFC among gainers New York: Asian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as US President Donald Trump vowed to use force to end violent protests in American cities, souring a previously upbeat market mood. E-mini futures for the S&P 500 fell 0.38 percent and Japan’s Nikkei 225 futures lost 0.34 percent. Australian S&P/ASX 200 futures rose 0.15 percent in early trading. The early indications came after major US stock indexes closed with gains of about 0.5 percent and continued to hover near three-month highs. As Trump spoke in the Rose Garden of the White House on Monday, live television images showed police firing tear gas to dispel demonstrators in Lafayette Park, across the street. “If American consumers were reluctant to come out of their COVID-19 lockdown cocoon fearing a secondary spreader, it’s unlikely they will feel any safer with military Humvees rolling down Pennsylvania Avenue,” Stephen Innes, Chief Global Markets Strategist at AxiCorp, wrote in a note to clients. As Asian markets prepared to open, dozens of cities across the United States were under curfews with the National Guard deployed in 23 states and Washington, D.C. The curfews followed protests over the death of George Floyd, a 46-year-old African American who died in Minneapolis after being pinned beneath a white police officer’s knee for nearly nine minutes. The dollar index fell 0.4 percent, as risk appetite had increased on optimism that the worst of the global economic downturn caused by the coronavirus may be in the past. The biggest concern for bond markets was growing US government debt with the benchmark 10-year Treasury notes yield rising to 0.677 percent from 0.644 percent on Friday. “Most investors are saying (the protests) aren’t going to destroy the economy,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “It’s a roadblock, but it’s not as big as a pandemic.” The protests were largely peaceful on Sunday but turned violent in the evening. On Monday, US President Donald Trump urged state governors to crack down on protests over racial inequality that have engulfed the nation’s major cities, as officials extended curfews to prevent a seventh night of looting and vandalism. Markets were cheered by US manufacturing activity turning up slightly from an 11-year low in May. The report was the strongest sign yet that the worst of the economic downturn had passed as businesses reopened, though the recovery from the COVID-19 crisis could take years because of high unemployment. Similarly, in the euro zone, the IHS Markit’s Manufacturing Purchasing Managers’ Index recovered slightly in May from April’s record low, although factory activity still contracted heavily. Oil futures steadied on Monday despite US-China trade tensions with Brent up 1.3 percent to settle at $38.32 a barrel and US crude slipping 5 cents to $35.44 a barrel. Spot gold added 0.8 percent to $1,739.75 an ounce. US gold futures gained 0.03 percent to $1,737.40 an ounce. In the trade dispute, sources in China said the government had told them to halt purchases of US soybeans after Trump moved to eliminate special treatment for Hong Kong to punish Beijing over its new security laws for the city. Though investors are closely watching for news on medical advances against the pandemic, the markets took in stride mixed news from Gilead Sciences Inc, whose shares fell about 4 percent . Gilead said that its antiviral drug remdesivir provided a modest benefit in patients with moderate COVID-19 given a five-day course of the treatment, while those who received the medicine for 10 days in the study did not fare as well.
Stock Market Latest Updates: Indices nearly 3-month high, Sensex jumps over 500 points, Nifty close to 10,000-mark; Bajaj Finance, HDFC among gainers
Stock Market Latest Updates: Indices nearly 3-month high, Sensex jumps over 500 points, Nifty close to 10,000-mark; Bajaj Finance, HDFC among gainers
 "Stock Market Latest Updates: Indices nearly 3-month high, Sensex jumps over 500 points, Nifty close to 10,000-mark; Bajaj Finance, HDFC among gainers")
Indices nearly 3-month high; Sensex jumps over 500 points, Nifty close to 10,000-mark
Market rally continued for the fifth day in a row and closed in the green nearly three months high after Prime Minister Narendra Modi said that the country would return to growth path soon at the CII’s annual meeting on Tuesday.
The Nifty also ended close to 10,000-mark.
The Sensex surged 522.01 points or 1.57 percent at 33,825.53, while Nifty was up 152.95 points or 1.56 percent at 9,979.10 at close.
Bajaj Finance was the top gainer in the Sensex pack soaring over 8 percent. Other gainers included Kotak Mahindra Bank, IndusInd Bank, HDFC, PowerGrid and Axis Bank.
On the NSE, Bajaj Finserv, Zee Entertainment, Bajaj Finance, Kotak Mahindra Bank and Tata Motors were among major gainers, while losers were Coal India, Maruti Suzuki, ITC, BPCL and Dr Reddys Labs.
On the sectoral front, except FMCG other indices ended in the green, while BSE Midcap and Smallcap indices rose between 1-2 percent.
#MarketAtClose | #Market gains for five consecutive sessions for the 1st time in 2020.
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Market ends at nearly 3-mth high; nifty near 10,000 & sensex 34,000 pic.twitter.com/vRoDx4Nw3M
IIT Roorkee develops anti-microbial nanocoating system for facemasks
A team of researchers at IIT Roorkee has developed a nano-coating system to be used for facemasks and personal protective equipment (PPE) for reducing the transmission risk of COVID-19.
This coating has been tested to effectively kill pathogens within 10-15 minutes. This formulation will be beneficial to frontline medical personnel for coating their existing facemasks and can be scaled up further for coating on their gowns, it said in a press release
“Facemask is a core component of the PPE along with gown, gloves, and eye protection for frontline healthcare personnel. This nano-coating provides an additional layer of protection against pathogens in existing masks and can curb the transmission risk of the disease,” said Naveen K Navani of Department of Biotechnology and Centre of Nanotechnology who led the research.
It was developed by a four-member team including Pardeep Kumar, Arun Beniwal, and Ajmal Hussain.
Hummingbird Resources joins World Gold Council
Hummingbird Resources, in the exploration, evaluation and development of mineral properties in West Africa with a primary focus on gold, has joined World Gold Council.
Founded in 2005, Hummingbird listed on the London Stock Exchange in 2010. The company currently has two operations, Yanfolila, a high grade, producing mine in south west Mali; and Dugbe, a large undeveloped gold deposit in Liberia.
Ramco Cements jumps over 5%
#CNBCTV18Market | Sharp surge in Ramco Cements pic.twitter.com/6BFFUZ2UCz
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Sensex jumps over 550 points, Nifty at 9,981-mark
Indices extended gains as Sensex was trading 551.39 points or 1.66 percent higher at 33,854.91 while the broader Nifty was up 168.55 points or 1.72 percent at 9,994.70 at around 3.20 pm.
On the BSE, Bajaj Finance Kotak Mahindra Bank, IndusInd Bank, PowerGrid, HDFC, ICICI Bank and Titan were among the top gainers.
The losers included Maruti, ITC, NTPC and Hero MotoCorp
Moody’s downgrades HDFC Bank, SBI
Moody's downgrades the long-term local & foreign currency deposit ratings of HDFC Bank and SBI to Baa3 from Baa2; places Baa3 long-term local & foreign currency deposit ratings of BOB, BOI, Canara & UBI & their ba3 BCAs under review for downgrade pic.twitter.com/R5zzb0MNT6
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Motherson Sumi Systems net profit falls 68.4% to Rs 136 cr in March quarter
Automobile components major Motherson Sumi Systems Ltd on Tuesday reported a 68.4 percent decline in consolidated net profit to Rs 135.66 crore for the fourth quarter ended 31 March, mainly affected by the coronavirus pandemic.
The company had posted a consolidated net profit of Rs 429.31 crore in the corresponding period of the previous financial year, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing.
Its total revenue from operations in the fourth quarter stood at Rs 15,159.05 crore as against Rs 17,169.47 a year ago.
CAIT urges Amit Shah to revise working hours of shops
Confederation of All India Traders (CAIT) on Tuesday urged Union Home Minister Amit Shah to revise the working hours of the shops from current 10 am to 7 pm to 9 am to 4 pm and also revise the banking hours to 11 am to 5 pm.
“This change will bring an end to ‘peak hours’ concept in traffic whereas it will also be beneficial for the environment and on the other side, the risk of untoward incidents by anti-social elements could also be curtailed to a great extent,” CAIT said.
The CAIT is holding daily video conferences with trade leaders of different states from 25 March on a regular basis and this suggestion of revising the working hours has erupted on the basis of conversations with trade leaders of the country, it said.
Sensex jumps 528 points, Nifty at 9,981-mark
Indices remained in the green zone as Sensex surged 528.52 points or 1.59 percent higher at 33,832.04 while the broader Nifty was up 155.05 points or 1.58 percent at 9,981.20 at around 2.50 pm.
Bajaj Finance was the top gainer in the Sensex pack zooming nearly 9 percent. Other gainers included Kotak Mahindra Bank, IndusInd Bank, PowerGrid, HDFC, ICICI Bank and Titan.
The losers included Maruti, ITC, NTPC and Hero MotoCorp.
Tata Motors resumes operations across all manufacturing plants
Tata Motors on Tuesday said it has resumed operations across all its manufacturing plants in the country.
The company has restarted operations at all plants with Jamshedpur facility also getting approval on 27 May, Tata Motors said in a regulatory filing.
Around 59 percent of company’’s passenger vehicle showrooms, covering 69 percent of the retail market, have commenced operations, it added.
“From supply side, 90 percent of suppliers in commercial vehicle segment have received permissions to commence,” Tata Motors said.
May freight revenue drops to Rs 7,410 cr
Govt official says May freight revenue falls to Rs 7,410 cr. Here's more. pic.twitter.com/oI4dtFRsaJ
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Rating changes not a big event for markets: CEA Krishnamurthy Subramanian
#CNBCTV18Exclusive | Significant uncertainty on the demand side. Individuals can be more conservative with spending vis-a-vis businesses; till uncertainty remains precautionary tendency to save will stay, says @SubramanianKri pic.twitter.com/ZPUdQmiTBN
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Eris Lifesciences Q4 profit up 4% to Rs 56 cr
Drug firm Eris Lifesciences on Tuesday reported 4.02 percent rise in consolidated net profit to Rs 56.05 crore for the quarter ended 31 March 2020.
The company posted a net profit of Rs 53.88 crore for January-March period of 2018-29, Eris Lifesciences said in a filing to BSE.
Revenue from operations stood at Rs 248.56 crore during the quarter under review as against Rs 214.82 crore in the year-ago period, it added.
In 2019-20, the net profit of the company stood at Rs 296.29 crore as against Rs 291.14 crore a year ago, the filing said.
Sensex up 462 points, Nifty above 9,950-mark
Indices remained slightly volatile as Sensex was trading 462.33 points or 1.39 percent higher at 33,765.85 while the broader Nifty was up 135.65 points or 1.38 percent at 9,961.80 at around 2.25 pm.
Kotak Mahindra Bank was the top gainer in the Sensex pack soaring nearly 7 percent. Other gainers included Bajaj Finance, PowerGrid, IndusInd Bank, HDFC, Sun Pharma and ICICI Bank.
The main losers were Maruti, NTPC, ITC and Nestle India.
Horticulture at risk from locust attack: Motilal Oswal
If the attack from swarms of locusts is not curtailed, horticulture production in Madhya Pradesh, Uttar Pradesh, Gujarat, Rajasthan and Maharashtra will be impacted, according to a sector report by Motilal Oswal Financial Services.
These states cumulatively contribute 38 percent to India’s 312 million tonnes of horticulture production.
Vegetables constitute 59 percent of the production. Nearly 31 percent of the horticulture production comes from fruits.
Summer fruits in India include mango, watermelon, orange, muskmelon, sweet lime, jackfruit, black plum, lychee, pineapple, figs and ice apple.
“If the locust attack is not curtailed, horticulture production at these states will be impacted. Generally, January to March is the period for the sowing of sugarcane. Any locust attack may impact sugarcane crop in Uttar Pradesh which constitutes 45 percent to the normal sugarcane sowing area of India,” said the report.
SBI launches separate vertical for borrowers in rural, semi-urban areas
.@TheOfficialSBI carves out a vertical for small borrowers in micro marketshttps://t.co/WwZe2FfwGu
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Sensex surges over 500 points, Nifty at 9,978-mark
Indices recovered as Sensex soared 520.66 points or 1.56 percent to 33,824.18 while the broader Nifty was up 151.90 points or 1.55 percent at 9,978.05 at around 2.10 pm.
Kotak Mahindra Bank was the top gainer in the Sensex pack zooming over 6 percent. Other gainers included Bajaj Finance, PowerGrid, IndusInd Bank, HDFC, Sun Pharma and ICICI Bank.
The main losers were Maruti, NTPC, ITC and Nestle India.
Rupee rises 19 paise to Rs 75.36 at close
#Rupee ends 19 paise stronger (at day's high) compared to Monday's close pic.twitter.com/JHmgSPhbQS
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Moody’s downgrade expected, India unlikely to slip to junk status: BofA
India’s sovereign credit rating downgrade by Moody’s was not unexpected and factors like high quantum of forex reserves and prospects of a good farm harvest would prevent a further slip to the non-investment grade, a foreign brokerage said on Tuesday.
Moody’s Investors Service on Monday downgraded the country’s rating by one notch to ‘‘Baa3’’, the lowest in the investment grade, with a negative outlook on worries over growth and fiscal risks.
Economists at Bank of America (BofA) Securities pitched for the country to continue with the fiscal stimulus measures because of the impact of the coronavirus pandemic.
“This (the downgrade) is not unexpected…fiscal stimulus is critical for recovery,” the brokerage said.
Nifty Bank rises over 2%
#CNBCTV18Market | Private financials lead Nifty Bank higher pic.twitter.com/U1aL7p6QUM
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
JSW Steel’s crude steel output falls over 14% in May
JSW Steel has registered a fall of over 14 percent in its crude steel production at 12.48 lakh tonne (LT) during May 2020.
The company had produced about 14.53 LT of crude steel during the same month in 2019.
However, on month-on-month basis the production in May was 122 per cent higher compared to 5.63 LT in April 2020, which was about 60 percent lower compared to 13.90 LT crude steel JSW Steel had produced in April 2019.
“JSW Steel Limited ramped up its capacity utilisation in May 2020 to an average of 83 percent from 38 per cent in the month of April 2020. The crude steel production achieved for May 2020 was at 12.48 LT showing growth of 122 percent over April 2020,” JSW Steel said in a statement.
Sensex up 467 points, Nifty at 9,953-mark
Indices erased some of the gains as Sensex was trading 467.74 points or 1.40 percent to 33,771.26 while the broader Nifty was up 132.65 1.35 points or 1.29 percent at 9,952.95 at around 12.45 pm.
On BSE, Kotak Mahindra Bank was the top gainer. Other gainers included Bajaj Finance, PowerGrid, IndusInd Bank, HDFC, Sun Pharma, Axis Bank, ICICI Ban and L&T.
The losers included Maruti, ONGC and Nestle India.
Gold futures fall on weak global cues
Gold futures on Tuesday fell 0.17 percent to Rs 47,001 per 10 gram as participants offloaded their holdings following weak trend overseas.
On the Multi Commodity Exchange, gold prices for June delivery fell by Rs 82, or 0.17 per cent, to Rs 47,001 per 10 gram in a business turnover of 56 lots.
The yellow metal for August delivery declined by Rs 116, or 0.25 percent, to Rs 47,022 per 10 gram in 15,382 lots.
In New York, gold was trading 0.13 percent down at $1,748 per ounce.
Paytm claims telecom firms not preventing phishing; HC seeks Centre, TRAI response
The Delhi High Court Tuesday sought response of the Centre and telecom regulator TRAI on online payment platform Paytm’s plea alleging that telecom operators are not blocking those who are defrauding its customers by “phishing” activities over various mobile networks.
A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to the Ministry of Communication, Telecom Regulatory Authority of India and major mobile service providers, including Airtel, Reliance Jio, MTNL, BSNL and Vodafone seeking their stand on the plea before the next date of hearing on June 24.
Additional Solicitor General Maninder Acharya and central government standing counsel Anurag Ahluwalia accepted notice on behalf of the ministry.
The order came on the plea by One97 Communications Ltd, which runs Paytm, claiming that millions of its customers have been defrauded by the phishing activities over the mobile networks and the failure of the telecom companies to prevent the same has “caused financial and reputational loss” to it for which it has sought damages of Rs 100 crore from them.
India’s Mitron app suspended from Google Play Store
Exclusive: Mitron, India's so-called answer to TikTok, suspended from Google Play Store @MeghaVishwanath investigates @CNBCTV18News @CNBCTV18Live @CNBCYoungTurks #startups #TikTok #investigation #mitron #CNBCTV18Exclusive https://t.co/HbUsWEnRlu
— Shereen Bhan (@ShereenBhan) June 2, 2020
PNB cuts retail term deposit rate by 25-125 bps
PNB cuts retail term deposit rate by 25-125 bps pic.twitter.com/XhQJw4bSZA
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
States reiterate demand to release dues, grant aid from Centre
#CNBCTV18Exclusive | States reiterate request to Centre to release dues, grant aid as revenue shortfall bites . States face double whammy of poor #GST revenue & rising expenditures, sources to @TimsyJaipuria pic.twitter.com/Dwe3sPdEXN
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Markets continue to rise at half-time
Indian markets at half time continue to rise for 5th straight day in a row building on to its opening gains as Nifty trades higher by 1.25%, said Aditya Agarwala, Senior Technical Analyst, YES Securities.
Further, Nifty crossed its previous session high and is comfortably above the 9,900 level suggesting bullishness he said adding a sustained trade beyond 9,900 will extend the gains to levels of 10,150.
“On the flip side if it breaks below the immediate support of 9,800 profit booking can be triggered dragging the Index lower to levels of 9,750-9,720. On shorter time frame chart negative divergences continue to get stronger suggesting that the uptrend is losing momentum which can lead to minor profit booking,” said Agarwala.
Bank, NBFC, Media and Realty stocks are taking the markets higher while Metal and FMCG stocks are dragging them lower. Broader markets are outperforming the headline indices as stock specific outperformance continues. European markets have also opened in the green, he added.
NTPC begins search for CEO of distribution business
State-owned power giant NTPC said it has started the process for recruiting a Chief Executive Officer (CEO) for its electricity distribution business.
Last week NTPC had announced its plan to foray into electricity distribution business and also offered to acquire 51 per stake in two utilities of Anil Dhirubhai Ambani Group (ADAG) in Delhi.
In a letter to the Delhi Electricity Regulatory Commission (DERC), NTPC had said it has learnt that ADAG wants to divest its 51 per cent stake in BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), and the company is keen on acquiring the distribution assets.
This assumes significance because NTPC is primarily power-generation company.
Temenos, HCL Technologies ink pact
Temenos and HCL Technologies sign agreement to market Temenos’ Multiexperience Development Platform to non-financial services cos pic.twitter.com/111QgHAV3s
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
IATA calls for urgent implementation of ICAO COVID-19 guidelines
The International Air Transport Association (IATA) has urged governments to quickly implement the International Civil Aviation Organisation’s (ICAO’s) global guidelines for restoring air connectivity.
The ICAO Council on Monday approved ‘Takeoff: Guidance for Air Travel through the COVID-19 Public Health Crisis (Takeoff).’ This is an authoritative and comprehensive framework of risk-based temporary measures for air transport operations during the COVID-19 crisis.
“The universal implementation of global standards has made aviation safe. A similar approach is critical in this crisis so that we can safely restore air connectivity as borders and economies re-open,” said IATA’s Director General and CEO Alexandre de Juniac.
Max Life Insurance claims paid ratio at an all-time high of 99.22%
Max Life Insurance Co Ltd said on Tuesday it paid 15,342 death claims amounting to Rs 563 crore in the financial year 2019-20, thus achieving an all-time high individual death claims paid ratio of 99.22 percent in the company’s last five-year performance.
The company said it has consistently improved its claims paid ratio in the last five years to breach the remarkable 99 percent mark this financial year, thereby reiterating its commitment towards cementing customer trust.
Since inception, Max Life has paid individual death claims of Rs 3,238 crore to family members of its 1.12 lakh policyholders.
In FY 19-20, out of a total 15,463 death claims received, only 120 were rejected and one case was pending for closure at the end of the financial year.
Sensex soars over 500 points, Nifty close to 10,000-mark
Indices extended the gains as Sensex zoomed 517.44 points or 1.55 percent to 33,820.96 while the broader Nifty was up 145 points or 1.48 percent at 9,971.15 at around 12.45 pm.
On BSE, Kotak Mahindra Bank was the top gainer. Other gainers included Bajaj Finance, PowerGrid, IndusInd Bank, HDFC, Sun Pharma, Axis Bank, ICICI Ban and L&T.
The losers included Maruti, ONGC and Nestle India.
Ravi Shankar Prasad announces 3 schemes for electronics manufacturing sector
We are announcing today one 'Production Linked Incentive Scheme', increase your production&earn incentive and also, 'Component Manufacturing Scheme' & 'Cluster Scheme' for development of the electronics manufacturing sector: Union Minister Ravi Shankar Prasad pic.twitter.com/ohUUpe8PBx
— ANI (@ANI) June 2, 2020
Self-reliant India not an India of isolation: Ravi Shankar Prasad
Self-reliant India is not an India of isolation and its not an inward-looking India. It is an India which develops an ecosystem as a robust asset to the global economy: Union Minister Ravi Shankar Prasad pic.twitter.com/M4k6SGuANr
— ANI (@ANI) June 2, 2020
India’s global share in electronic manufacturing rises to 3% in 2018: Govt
Electronic manufacturing in India has risen from Rs 1.9 lakh crore in 2014 to Rs. 4.58 lakh crore in 20018-19. Our global share in electronic manufacturing has risen from 1.3% to 3% in 2018: Union Minister Ravi Shankar Prasad pic.twitter.com/jrmhxwq3Y2
— ANI (@ANI) June 2, 2020
May gold imports fall 99% from a year ago to 1.4 tonne
India’s gold imports in May plunged 99 percent from a year earlier as international air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said on Tuesday.
The world’s second-biggest consumer of the precious metal imported around 1.4 tonnes of gold in May, down from 133.6 tonnes a year ago, said the source, who declined to be identified because they are not authorised to speak to the media.
In value terms, May imports dropped to $76.31 million from to $4.78 billion a year ago, he added.
Drug regulator grants Gilead Sciences marketing authorisation for remdesivir
India’s drug regulator, has granted US pharma giant Gilead Sciences marketing authorisation for its anti-viral drug remdesivir for “restricted emergency use” on hospitalised COVID-19 patients in view of the crisis posed by the pandemic.
The approval process for remdesivir was accelerated in view of the emergency situation and the unmet need for medicines in light of the coronavirus outbreak, a source in the know of the developments told PTI.
The drug has been allowed for restricted emergency use for a maximum of five-day period for treatment of suspected or laboratory-confirmed cases of COVID-19 in adults and children hospitalised with severe symptoms, subject to several safeguards, the source said.
Daimler to deploy only 30% workforce in Tamil Nadu plant
Daimler has chosen to deploy a mere 30% of its workforce despite Tamil Nadu regulations allowing for 50%https://t.co/WS7fnUKfIk
— CNBC-TV18 (@CNBCTV18Live) June 2, 2020
Sensex jumps 294 points, Nifty reclaims 9,900-mark
Indices staged a recovery as Sensex jumped 293.82 points or 0.88 percent to 33,597.34 while the broader Nifty was up 90.60 points or 0.92 percent at 9,916.75 at around 12.10 pm.
Kotak Mahindra Bank, Bajaj Finance, PowerGrid, Sun Pharma, IndusInd Bank and HDFC were among the top gainsers in the Sensex pack.
The major losers included Maruti, ONGC, SBI, NTPC and Nestle India.
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.
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