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Monday, April 20, 2020

Lockdown, Day 27: Infy baffled, Manipur clean

CORONAVIRUS UPDATES

20 Apr, 2020 | 06:23 PM IST


Lockdown, Day 27: Infy baffled, Manipur clean

Despite 36 deaths being reported in the last 24 hours, the government had some positive data to share — the rate of doubling of cases has dropped to 7.5 days from the pre-lockdown level of 3.4 days.

Another good news since our last update - Manipur is now the second state after Goa to rid itself of the virus, at least for now.

On the business front, Infosys reported a 6% rise in profit (YoY)- to Rs 4,321 crore. The IT major also suspended guidance on revenues and margins for FY21.

Below are the other big news of the day



COUNT SO FAR
    J-K confirms 4 new cases, total count 354
    110 new cases in Delhi, tally rises to 2003
    Agra tally reaches 255
    283 new cases in Maharashtra, total count now 4,483
    Nine-day-old infant tests positive in Bhopal
    Total number cases in Odisha stands at 68
    5 new cases in K'taka, state tally reaches 395
    57 new cases in Rajasthan, state tally now 1,535
    Death toll in Indore rises to 52, cases reach 897
    Four more die in Gujarat; state toll rises to 67
World India
Tally Toll Tally Toll
24,06,745 1,65,257 17,656
559

BUSINESS & ECONOMY
    Fitch Solution cuts India's FY21 GDP growth forecast to 1.8%
    Re settles 14 paise lower at 76.53 vs dollar
    Fuel supply by Coal India to power sector rises 6% to 43 MT in Feb
    US crude falls below $15 a barrel
    Business optimism for April-June falls to record low
    Infosys suspends hiring, promotions & salary increments
    Samsung to extend suspension of factories through May 3
    AirAsia cuts staff salaries by up to 20% for April
    Tata Motors' March qtr global wholesales down 35%
    Goa's state debt zooms to over Rs 20,000 cr
    Government may take up PF for companies with 100+ staff

WORLD UPDATE
    US records 1,997 deaths in 24 hours; total deaths top 40,000
    China's Hubei reports no increase in COVID-19 cases
    Cases in Germany now 141,672 (+1,775), toll 4,404(+110)
    France reports another 395 deaths; total toll 19,718
    Mexico registers 8,261 confirmed cases, 686 deaths

DEBATE THIS
    Is it time to put a Covid tax on India's super-rich? Join here


India staring at widest budget gap since 1987

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THE ECONOMIC TIMESDaily Newsletter
Mon, Apr 20, 2020 | 06:10 PM IST
#Coronavirus#EconomyTracker#Whatsbuzzing
Top stories of the day
India staring at widest budget gap since 1987 India staring at widest budget gap since 1987
Citi says India's budget gap will be about 8% of the GDP, the widest since 1987. ...
Pandemic leaves Infy clueless on guidance, Q4 profit rises 6%
Biz optimism falls to record low, worse than financial crisis: Report
India's taxmen get down to business with new rules
India's FDI rules may open new flashpoint with China
Paytm, BigBasket run into India's FDI wall
Fight to get Vijay Mallya back nears endgame
Half of FY20 IPOs hold head above water
Debate This
Now debating: Is it time to put a Covid tax on India's super-rich?
A similar proposal based on a "Covid bond" is already doing the rounds in pandemic-ravaged Europe. One account estimates that a 4% tax on roughly the 1,000 richest families would fetch Modi a war chest larger than 1% of India's GDP — more than what the rescue package has made provisions for.

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NSE
7 companies (largecap) appreciated more than 5%
Adani Power 12.46%
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9 companies (largecap) price decreased more than -5%
Shriram Tran Fin -14.59%
Chola Inv Fin -11.81%
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