F&O Expiry: Sensex extends recovery, surges 1,411 pts; Nifty ends at 8,641

All that happened in markets today

1:37 PM

NEWS ALERT | Cash transfers will be done through Direct Benefit Transfers

>> Scheme to address needs of Farmers, MGNREGA workers, poor widows, poor pensioners, Poor divyang, women account holders under Jan Dhan scheme, women beneficiaries under Ujjwala scheme, women under SHGs, organised sector workers (via EPFO), construction workers 

1:34 PM

NEWS ALERT | PM Gareeb Kalyan Ann Yojana to address needs of 80 crore poor people: FM Sitharaman

>> This will address 2/3rd population of the country

>> In addition to the existing 5 kg rice/wheat ration, additional 5 kg of rice/wheat and 1 kg of pulses will be given free of cost

>> Provision is for 3 months

>> Provision is for every household

FM Nirmala Sitharaman | Photo: @ANI

1:28 PM

NEWS ALERT | Will be providing medical insurance cover worth Rs 50 lakh per person: FM

>> Cover being provided to doctors, nurses, paramedical staff, anganwadi workers, sanitation workers, etc

>> Scheme to benefit 20 lakh people

1:26 PM

NEWS ALERT | Relief package worth Rs 1.70 lakh crore under the PM Gareeb Kalyan Scheme has been drafted: FM Sitharaman

1:25 PM

NEWS ALERT | Several measures through DBT being taken to take care of the needs of the poor: FM

1:24 PM

NEWS ALERT | Package being announced today will benefit directly hit labour: FM Sitharaman

1:23 PM

MARKET ALERT :: Indices steady as FM begins address

1:15 PM

STOCK ALERT :: Apollo Hospitals surges after ICMR gives nod for Covid-19 testing

1:08 PM

Caplin Point up 20% on USFDA approval for Verapamil Hydrochloride injection

"The company’s wholly owned subsidiary, Caplin Steriles, has been granted final approval by the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Verapamil Hydrochloride injection USP, 5 mg/2 mL (2.5 mg/mL) and 10 mg/4 mL (2.5 mg/mL) single-dose vial, a generic therapeutic equivalent version of (RLD), Isoptin injection, 2.5 mg/mL, of Mt. Adams Technologies LLC," Caplin Point Laboratories said in a press release. READ MORE

1:06 PM

BROKERAGE RADAR | Kotak Securities on Automobiles sector

Learning from impact of SARS on consumer behavior. One of the most significant impacts of SARS was substantial decline in usage of public transport and cab aggregator services in China. Chinese passenger car sales increased by 79% yoy in CY2003 led by (1) consumer preference towards private ownership of vehicles and (2) steep cut in prices due to increase in the competitive intensity. We believe there could be similar shift in consumer preference once the coronavirus situation subsides in India over the medium term and once economic growth normalizes.

1:06 PM

NEWS ALERT :: MCX, ICEX cut short trading time till 5 pm amid lockdown

>> MCX reduces trading time from 14 hours to 8 hours

>> New timing valid from March 30 till April 14

12:57 PM

COVID-19 Effect | Housing Sales, New Launches Dip 42% Each in Q1 2020: ANAROCK

Anuj Puri, Chairman – ANAROCK Property Consultants says, “Given the ongoing global healthcare calamity, it’s no surprise that housing sales and new project launches across India’s top 7 cities decreased both on yearly and quarterly basis. As expected, monthly data trends reveal that March – the month when most advisories and lockdown were imposed - saw a steep decline in both new launches and housing sales against the preceding two months.”

 

“The Government has taken an inarguably necessary hard-line stance to curtail the spread of the virus. The lockdowns have stalled construction activity and will lead to project delays in the future, but this is a reality the sector must accept and live with.”

 

Perhaps the only silver lining is that developers were able to shed nearly 3% of their unsold inventory in a year – from 6.65 lakh units in Q1 2019 to over 6.44 lakh units in Q1 2020. On a quarterly basis, the decline was just 1%.

 

12:52 PM

Sebi may cut commodity derivatives timings till 5 PM over virus lockdown

This follows the submission by brokers to the regulator requesting such measures following lockdown. Many brokers finding it difficult to call even bare minimum staff required in office. READ MORE

12:51 PM

FM Sitharman to announce economic package to deal with Covid-19 impact

Finance Minister Nirmala Sitharaman will soon announce a comprehensive package to deal with coronavirus impact on the economy. The announcement is expected to take place at 1 pm on Thursday, according to an official. Earlier this week, the Finance Minister had said a package is under works and will be announced soon. Prime Minister Narendra Modi last week had constituted a task force headed by the Finance Minister to work out package for economy hit by coronavirus.

(As reported by PTI)

12:40 PM

BUZZING STOCK:: Piramal Enterprises surges over 38%