Business Highlights

Following are the top business stories at 1850 hours: DEL50 BIZ-PETROL-2NDLD PRICE HIKE Delhi govt VAT hike: Petrol price up Rs 1.67 per litre, diesel Rs 7.10 New Delhi: Petrol price in the national capital was hiked by Rs 1.67 a litre on Tuesday and diesel by a steep Rs 7.10 per litre after the Delhi government raised local sales tax or value-added tax (VAT) on the two fuels. DCM11 BIZ-VIRUS-NBFC-RBI COVID-19: NBFCs ask RBI for one-time restructuring of all loans till Mar 2021 Mumbai: Non-banking financial companies (NBFCs) have asked the Reserve Bank of India to allow them one-time restructuring of all loans till March 2021, as their borrowers are facing funding issues amid the coronavirus pandemic and the subsequent lockdown.

DCM52 BIZ-VIRUS-INDIA-S&P More fiscal stimulus measures necessary in India to fight COVID-19: S&P Mumbai: Global ratings agency S&P on Tuesday said additional financial stimulus is “necessary” in India to fight the COVID-19 pandemic, despite the country's weak fiscal position. DCM20 BIZ-LOCKDOWN-PHARMA Janaushadhi Kendras accepting orders on WhatsApp, e-mail to facilitate access to medicines: Govt New Delhi: Various Janaushadhi Kendras are accepting orders for medicines through WhatsApp and email to ensure easier procurement of medicines by patients during the lockdown, the government said on Tuesday.

DCM4 BIZ-LOCKDOWN-ECOMMERCE Lockdown 3.0: People turn to e-commerce for non-essential items; staff crunch may delay deliveries New Delhi: From laptops to apparels, people are logging on to e-commerce platforms like Amazon, Paytm Mall and Snapdeal to place orders for non-essential items, but lack of adequate manpower amid the lockdown could delay deliveries, as per industry executives. DEL90 BIZ-INSTAGRAM-BOIS LOCKER ROOM Bois Locker Room case: Instagram says objectionable content removed New Delhi: Instagram on Tuesday said it has removed the objectionable content featuring minor girls on its platform, amid the outrage over the content.

DEL92 BIZ-LD STOCKS Indices turn lower as early gains fizzle out; financials drag Mumbai: Benchmarks Sensex and Nifty failed to hold onto early gains and slipped into the red towards the fag-end of the session on Tuesday, due to a fag-end selloff in financial stocks as investors fretted over muted earnings and economic uncertainties injected by COVID-19. DEL86 BIZ-LD RUPEE Rupee recovers 10 paise to settle at 75.63 on easing trade war concerns Mumbai: The rupee on Tuesday recovered by 10 paise to close at 75.63 against the US currency on increased risk appetite following easing SINO-US trade war concerns.

DCM54 BIZ-VIRUS-UNEMPLOYMENT-CMIE India's unemployment rate soars to 27.11% amid COVID-19 crisis: CMIE Mumbai: The COVID-19 crisis has led to a spike in the country's unemployment rate to 27.11 per cent for the week ended May 3, up from the under 7 per cent level before the start of the pandemic in mid-March, the Centre for Monitoring Indian Economy (CMIE) has said. DCM23 BIZ-EPFO-PENSION EPFO releases total Rs 764 cr to pensioners for April New Delhi:Retirement fund body EPFO on Tuesday said it has disbursed a total of Rs 764 crore to 65 lakh pensioners for April under its pension scheme.

DCM37 BIZ-LOCKDOWN-GADKARI-MSME Expecting financial package for MSMEs soon: Gadkari New Delhi: Union Minister Nitin Gadkari has said he expects a financial package to be declared by the government for the micro, small and medium enterprises sector soon. DCM32 BIZ-VIRUS-MCX TURNOVER MCX turnover doubles to Rs 20,000 cr on restoration of normal trading hours Mumbai: Country's largest commodities exchange MCX, which reported a 60 per cent decline in daily turnover after curtailment of trading hours, saw the turnover more than double to nearly Rs 20,000 crore following restoration of normal trading hours last week.

DCM45 BIZ-VIRUS-WIPRO-MAHA HOSPITAL Wipro signs pact with Maharashtra govt to convert Pune facility to 450-bed COVID-19 hospital New Delhi: IT major Wipro on Tuesday said it has inked a pact with the Maharashtra government to repurpose one of its campuses in Hinjewadi, Pune, to a 450-bed COVID-19 intermediary care hospital in four weeks. DCM27 BIZ-VIRUS-PEPSICO-TESTING KITS PepsiCo India funded COVID-19 testing kits start reaching laboratories New Delhi: PepsiCo India on Tuesday said the first batch of test kits for coronavirus funded by it has started reaching testing sites across India..