Top headlines: Govt allows e-tail, agri activities to resume from April 20

Business Standard brings to you top business headlines for the day

Covid-19: Govt allows e-commerce, agri industry to resume from April 20

The Ministry of Home Affairs on Wednesday came out with guidelines on what activities could be carried out after April 20 and what would remain restricted during the nationwide lockdown in force till May 3.The ministry added that State and union territory governments shall not dilute lockdown guidelines in any manner, but they may impose stricter measures in line with local requirements. The exemptions given will not be applicable to the hotspots. Read more to know the list of activties that are allowed from April 20. 

Wipro posts 6.3% YoY fall in its Q4 net profit; misses Street estimates

Wipro on Wednesday posted a 6.3 per cent year-on-year (YoY) decline in its net profit at Rs 2,326.1 crore for the quarter ended March 31, 2020. On a sequential basis, the numbers slipped 5.28 per cent. Read more

Covid-19: What govt's partial lifting of restrictions may mean for the economy

The much-expected guidelines for allowing limited economic activity announced by the government are pragmatic and would be in force post April 20. It is good that the government has opened the doors towards working on an exit route and has included the most essential activity, agriculture to operate freely. Read more here

Covid-19 crisis: Over 100 firms missed deadline to appoint women directors

A total of 125 listed firms failed to appoint any women independent directors on their boards by the deadline that expired on March 31, showed data from corporate tracker nseinfobase.com. This applied to the top 1000 listed companies. At least 37 of the companies, which missed the Sebi deadline, were government-owned. Read more here
 

Covid-19 lockdown to hit consumer durable firms; FY21 earnings estimate cut
The nationwide lockdown to stem the spread of coronavirus (Covid-19) pandemic is expected to significantly hit consumer durable companies such as Havells India, Voltas, and Crompton Greaves CE as the demand for summer season products like room air conditioners (RAC), coolers and fans will be severely impacted. Read more here
 

Coronavirus impact: S&P lowers Tata Steel's rating from 'BB-' to 'B+'

Standard & Poor’s has lowered Tata Steel Ltd’s long-term foreign currency rating from 'BB-' to 'B+' on prospects of credit metrics being weaker than previous expectations due to Covid-19 related disruptions and the consequent slowdown. Read more here
 

India to get normal monsoon, says IMD as country battles coronavirus

India is likely to have a normal monsoon this year, the country’s weather department said on Wednesday, giving the country’s coronavirus-battered economy some good news. Monsoon rains are expected to be 100 per cent of a long-term average, M. Rajeevan, secretary at the Ministry of Earth Sciences told a news conference. Read more here