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Indian Shares Tumble As Economic Package Disappoints; Banks Fall

2020-06-25T13:35:36Z

MikkiRosenberg6: Created page with " By Sachin Ravikumar BENGALURU, May 18 (Reuters) - Indian shares tumbled on Monday, with banks leading the fall, as investors were disappointed by government measur..."

By Sachin Ravikumar BENGALURU, May 18 (Reuters) - Indian shares tumbled on Monday, with banks leading the fall, as investors were disappointed by government measures to aid an economic recovery, even as domestic cases of the novel coronavirus continued to rise steadily. A slew of announcements from India's finance minister that concluded on Sunday, largely comprising liquidity measures, have fallen short of market expectations due to the lack of enough measures to boost immediate demand and consumption. The package was billed by Prime Minister Narendra Modi as 20 trillion rupees ($265 billion) in fiscal and monetary measures, or about 10% of India's gross domestic product (GDP), but economists say the direct fiscal outlay amounts to less than 1% of GDP. "People generally were expecting immediate spends to revive the economy, which is not happening," said Deepak Jasani, head of retail research at HDFC Securities in Mumbai. "Our (economic) recovery will be very slow and laboured." On Sunday, Finance Minister Nirmala Sitharaman said India would stop fresh insolvency cases for a year to avoid bankruptcies from firms hit by the COVID-19 pandemic, causing banking stocks to plunge on Monday. "It will affect slippages and recoveries for banks in a big way," Jasani said, referring to a fresh jump in bad loans. Goldman Sachs on Sunday estimated that India's real GDP would fall by 5% in 2020/21, sharply lower from an earlier projected 0.4% fall. The NSE Nifty 50 index fell 3.05% to 8,857.90 by 0530 GMT, while the S&P BSE Sensex slid 3.09% to 30,137.63. The Nifty 50 slipped below the 9,000 level for the first time since April 22. The Nifty banking index fell 6.25% and was on course for its worst day in two weeks. The top five drags on the Nifty 50 were lenders. HDFC Bank Ltd fell 4.7%, while ICICI Bank Ltd fell 8.1%. Shares in drugmaker Cipla Ltd jumped 3% after March-quarter results on Friday and its filing of a new drug application for a generic version of GSK's blockbuster lung drug Advair. India on Sunday extended a nationwide lockdown to May 31, while easing some restrictions, but a ban on air travel and gatherings at several public places still remained. The country's tally of COVID-19 infections surged past 96,000 on Monday, [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html] while deaths surpassed 3,000. Meanwhile, other Asian shares were led higher by S&P 500 futures on Monday as countries' efforts to re-open their economies raised hopes of a pick up in economic activity. (Reporting by Sachin Ravikumar; Editing by Shounak Dasgupta and Uttaresh.V)

Indian Shares Fall Ahead Of GDP Data; Vodafone Jumps

2020-06-25T01:27:49Z

MikkiRosenberg6: Created page with " BENGALURU, May 29 (Reuters) - Indian shares fell on Friday after two days of strong gains as markets awaited the release of March-quarter GDP figures later in the day, whi..."

BENGALURU, May 29 (Reuters) - Indian shares fell on Friday after two days of strong gains as markets awaited the release of March-quarter GDP figures later in the day, while U.S.-China tensions further dampened sentiment. Gross domestic product (GDP) data is expected to show India's economy grew at its slowest pace in at least two years, as the COVID-19 pandemic hit already declining consumer demand and [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html] private investment. The NSE Nifty 50 index was down 0.76% at 9,418.30 by 0350, while the S&P BSE Sensex fell 0.86% to 31,924.13. The Nifty 50 had gained 5.1% over the past sessions led by a rally in beaten-down banking stocks. Shares in Vodafone Idea Ltd jumped 9.5% after a report that Google was eyeing a stake in the telecom firm. IT services firm Wipro Ltd's shares were up about 1% after it named a new chief executive officer and managing director. The broader Nifty IT index was down 1.3%. (Reporting by Sachin Ravikumar; Editing by Shounak Dasgupta)

Can apos;t Forget Cause Of Charity Game: Sachin

2020-06-25T00:45:29Z

MikkiRosenberg6: Created page with " Sachin Tendulkar is ready for catch-ups, slip-ups and entertaining cricket in Sunday's all-star charity contest, but it is Australia's catastrophic bushfire crisis that is..."

Sachin Tendulkar is ready for catch-ups, slip-ups and entertaining cricket in Sunday's all-star charity contest, but it is Australia's catastrophic bushfire crisis that is weighing most heavily on his mind. Tendulkar, India's greatest ever cricketer, is the biggest name involved in the match at Melbourne's Junction Oval featuring teams captained by Ricky Ponting and Adam Gilchrist. Tendulkar is listed to coach the Ponting XI that features Matthew Hayden, Justin Langer, Brett Lee and Wasim Akram. The once-in-a-generation superstar shunned the spotlight throughout his decorated career and that trend has largely continued since retiring in 2013. But when Lee reached out to the reclusive legend, wanting to put him in touch with Cricket Australia chief executive Kevin Roberts regarding the fundraising fixture, the answer was a prompt and enthusiastic yes. Tendulkar is looking forward to chewing the fat with Lee plus Ponting and Andrew Symonds, having struck up a rapport with the two batsmen when they were at Indian Premier League franchise Mumbai Indians. But that is not why the 46-year-old, who fell in love with Australia while spending almost four months here as an 18-year-old on a Test tour, agreed to make the trip. "We must enjoy each other's company and, above all, not forget the cause. That's the prime reason I am here," Tendulkar told reporters at the SCG. "This is an alarming situation. It's catastrophic, that's an understatement." Australia's unprecedented bushfire season has claimed the lives of 33 people and an estimated one billion native animals, also destroying thousands of homes and decimating habitats and communities. "You see the number of lives it has affected and not just humans, but also the wildlife. Which sometimes people don't talk about and I think that is equally important," Tendulkar said. "People have suffered, have lost virtually everything." Tendulkar suggested a shoulder injury prevented him from playing on Sunday, although he teasingly noted he "might just pick up a bat". "I'm so happy that I'm here, in whatever possible way, to support the cause and raise money. Australia has always been dear to me," he said. Speaking alongside Tendulkar on Friday, [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html cricketnfootballcenter.hpage.com] compatriot Yuvraj Singh expressed sadness at the extent of death and destruction in recent months. "It's sad times for humanity," Singh said. "But there's a lot of humans and we're here to support each other. Hopefully from the game, we're able to generate as many funds a possible from around the world."

Indian Shares Fall As Economic Package Fails To Impress; Reliance...

2020-06-25T00:32:48Z

MikkiRosenberg6: Created page with " BENGALURU, [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html cricketnfootballcenter.hpage.com] May 18 (Reuters) - Indian shares slipped on Monday as invest..."

BENGALURU, [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html cricketnfootballcenter.hpage.com] May 18 (Reuters) - Indian shares slipped on Monday as investors were unimpressed by the government's economic relief measures and coronavirus cases continued to rise steadily, while a boost in Reliance Industries and Cipla limited losses. The NSE Nifty 50 index fell 0.80% to 9,063.85 by 0400 GMT, while the S&P BSE Sensex slid 0.79% to 30,845.65. The Nifty banking index fell 2.5%. India on Sunday extended a nationwide lockdown to May 31, while easing some restrictions, but a ban on air travel and several public gatherings still remained. As of Monday, India's tally of coronavirus infections surged past 96,000, while deaths surpassed 3,000. Shares in drugmaker Cipla Ltd jumped 2% after March-quarter results on Friday and its filing of a new drug application for a generic version of GSK's blockbuster lung drug Advair. Indian oil-to-telecoms conglomerate Reliance Industries Ltd gained 1% after unveiling yet another sizeable investment in its digital arm. (Reporting by Sachin Ravikumar; Editing by Shounak Dasgupta)

User:MikkiRosenberg6

2020-06-25T00:32:46Z

MikkiRosenberg6: Created page with "By Nupur Anand and [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html cricketnfootballcenter.hpage.com] Sachin Ravikumar MUMBAI/BENGALURU, Nov 20 (Reuters..."

By Nupur Anand and [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html cricketnfootballcenter.hpage.com] Sachin Ravikumar MUMBAI/BENGALURU, Nov 20 (Reuters) - India's publicly listed firms must disclose any failure to repay loans within 24 hours in cases where 30 days have passed since the default, . My website: [https://cricketnfootballcenter.hpage.com/sachin-nervous-90.html cricketnfootballcenter.hpage.com]