Business highlights

DEL46 BIZ-LD STOCKS Equities shake off virus woes as bulls return; IT, auto stocks spurt Mumbai: Reversing two sessions of declines, the Sensex surged over 558 points while the Nifty recaptured the 11,300-mark on Tuesday as investors snapped up IT, auto and financial stocks amid firm global cues.

Following are the top business stories at 1850 hours: DEL55 BIZ-PM-BANKS PM Modi to join brain-storming session with heads of banks, NBFCs on Wed New Delhi: Prime Minister Narendra Modi will meet heads of large banks and NBFCs on Wednesday to take stock of the economy that has been hit hard by the outbreak of coronavirus pandemic. DEL46 BIZ-LD STOCKS Equities shake off virus woes as bulls return; IT, auto stocks spurt Mumbai: Reversing two sessions of declines, the Sensex surged over 558 points while the Nifty recaptured the 11,300-mark on Tuesday as investors snapped up IT, auto and financial stocks amid firm global cues. DCM46 BIZ-2ND LD FLIPKART Flipkart to offer 90-minute deliveries of groceries New Delhi: Walmart-owned Flipkart on Tuesday announced a 90-minute delivery for groceries as it seeks to take on Amazon.com and billionaire Mukesh Ambani's upstart JioMart in the fast-growing Indian market.

DCM47 BIZ-VIRUS-ECONOMY-REPORT GDP growth to lose momentum from Q3: Oxford Economics New Delhi: Global forecasting firm Oxford Economics on Tuesday said it expects India's GDP growth to lose momentum from late third quarter (October-December) of the current fiscal as the push from the initial reopening fades. DCM42 BIZ-GOVT-AVIATION-FDI Govt notifies amended FDI policy on civil aviation New Delhi: The government has notified changes in Foreign Direct Investment (FDI) norms on civil aviation, which will permit non-resident Indian nationals to own 100 per cent stake of Air India DCM28 BIZ-GADKARI-INFRA-FDI Govt taking steps to attract FDI in Infra to address liquidity crunch: Gadkari New Delhi: Union Minister Nitin Gadkari on Tuesday said the government is making efforts to attract FDI in the infrastructure sector to address the liquidity crunch faced by the COVID-19-hit economy. DCM24 BIZ-CII-ECONOMY High freq indicators showing material improvement, pointing at V-shaped recovery: CII New Delhi: Industry body CII on Tuesday said high frequency indicators are showing a material improvement as compared to multi-year low seen in April, and pointing towards a V-shaped recovery after the economy suffered on account of lockdown amid the coronavirus pandemic. DEL50 BIZ-LD-RUPEE Rupee ends flat at 74.84 against US dollar Mumbai: The rupee closed almost flat at 74.84 against the US currency on Tuesday despite steller gains in equity markets and stable oil prices.