Top headlines: Sebi curbs MF timings, Bajaj Finance loses 350,000 customers

Business Standard brings you top business headlines of the day

Lockdown impact: Bajaj Finance loses 350,000 customers in 10 days

Thw 21-day lockdown has severely impacted Bajaj Finance with the firm losing close to 350,000 customers impacting its assets under management (AUM) by Rs 4,750 crore (3.22 per cent of total AUM as of March 31). Apart from loan growth, the company is also staring at a possible asset quality deterioration. Read More...

Listed MNCs remain immune to coronavirus outbreak as m-cap rises to 15%

The Covid-19 pandemic has had minimum impact towards the listed MNCs, as the listed Indian subsidiaries continued to grow in market capitalisation and move ahead of the domestic peers. With combined m-cap of Rs 13.8 trillion, 74 Indian subsidiaries of global multinationals are now ahead of state-owned listed companies and almost as big as institutionally-owned independent companies. Read More...

India lifts curbs on exports of 13 active pharmaceutical ingredients

India lifted the ban on 13 active pharmaceutical ingredients (API) amid pressures from US and China. These included common medicines like paracetamol, vitamins, some anti-virals and others. Business Standard has also learnt that the government is likely to allow export of hydroxychloroquine claimed to be effective in treating coronavirus. Read More...

Coronavirus spread: Uber, Flipkart join hands to deliver essential products

Amid the lockdown period, Uber joined hands with Flipkart to deliver essentials in Bengaluru, Delhi and Mumbai. Experts said as the lockdown progresses, companies, especially those employing gig workers, are looking at innovative partnerships to keep their businesses going. Read More...

India Inc steps up efforts to mitigate impact of coronavirus pandemic

From free reading content, financing hospital beds to donations and job commitments, private companies have also stepped up efforts to mitigate the Covid-19 pandemic along with government-owned entities. According to BoFA Securities, the measures announced by private firms will not only help fight the virus, but will also boost their prospects in the stock markets. Read More...

Most free subscribers of music OTT apps ready to try paid models: report

A recent survey by research firm Redseer Consulting has said that majority of free users of the audio OTT apps are willing to switch over to paid versions if subscription rates are lowered. The survey said that users are willing to pay Rs 25 per month for a paid model. Facility to download content and offline browsing are the top reasons behind switching to a paid-subscription model, the report said. Read More...

Covid-19: Sebi curtails cut-off timings for mutual funds from 3 pm to 1 pm

Following the Mutual Funds industry's request to Sebi to reduce the timings due to the lockdown amid the Coronavirus outbreak, the market regulator reduced timings for equity and debt schemes from 3pm to 1pm and for liquid and overnight schemes to 12.30pm from 1.30pm. According to MF advisors, the move will make it difficult for equity scheme investors to time their fresh allocations efficiently. Read More...

Coronavirus impact: Retail investors see Rs 3 trillion hit on investments

Equity investments of retail investors have taken a hit due to the heavy sell-off in the stock markets due to Covid-19. Data has showed that retail investors have lost nearly Rs 3 trillion incurring heavy losses due to sliding of stocks in firms like Reliance, HDFC. Read More...

Coronavirus fallout: Telecom equipment makers equipped to meet local demand

To support telecom operators like Bharti Airtel and Vodafone, equipment makers like Ericsson and Nokia are manufacturing critical spare parts in Pune to ensure seamless network supply amid the lockdown due to Covid-19. Huawei and ZTE are also working with the companies to ensure smooth functioning and have inventory for 6-10 months, according to the Economic Times.

NHAI achieves 88% of highway construction target in FY20

NHAI has completed 3,979 km of national highways in the financial year 2019-20, against the target of building 4,500 km highways that was set in the beginning of the year. The company is now trying to determine the impact of the coronavirus on the lockdown and will get a clear picture on its future projects once the lockdown is lifted, Livemint reported.