Business highlights

DEL89 BIZ-VIRUS-LD FLIPKARTCOVID-19 lockdown: Flipkart, Amazon India's Pantry suspend operations temporarilyNew Delhi: Walmart-owned Flipkart and Amazon India's Pantry have been suspended temporarily as India entered a 21-day lockdown to contain the spread of the coronavirus pandemic.DEL79 BIZ-LD STOCKS-CLOSESensex, Nifty log best day in over 10 years; investors eye stimulus packageMumbai: Indian stock benchmarks Sensex and Nifty posted their best single-day rise in over a decade on Wednesday, mirroring buoyancy in global markets and anticipating a stimulus package by the government to tide over the financial turmoil caused by the coronavirus pandemic.

DEL20 BIZ-VIRUS LD PASWANGovt monitoring availability of essential commodities in market: PaswanNew Delhi: Union Food Minister Ram Vilas Paswan on Wednesday said the government is monitoring the availability of essential commodities in the market amid nationwide lockdown for

DEL22 BIZ-LD VIRUS-EXPORT BANGovt bans export of anti-malarial drug hydroxycloroquineNew Delhi: Amid coronavirus outbreak, the government on Wednesday banned export of anti-malarial drug hydroxycloroquine with immediate effect to ensure sufficient availability of the medicine in the domestic market.

DEL23 BIZ-VIRUS-LOCKDOWN COSTExperts peg India's cost of COVID-19 lockdown at USD 120 bnMumbai: Pegging the cost of the COVID-19 lockdown at USD 120 billion (approximately Rs 9 lakh crore) or 4 per cent of the GDP, analysts on Wednesday sharply cut their growth estimates and stressed on the need to announce an economic package.

DCM39 BIZ-CAB-LD EXPORTSCabinet approves extension of tax rebate scheme for export of garments, made-upsNew Delhi: The government on Wednesday approved the continuation of the scheme for Rebate of State and Central Taxes and Levies (RoSCTL) on export of garments and made-ups from beyond March 31 till it is merged with the Remission of Duties and Taxes on Exported Products scheme.

DCM34 BIZ-ONGC-GASONGC gas output drops by one-tenth as shut factories refuse suppliesNew Delhi: With the unprecedented nationwide lockdown shutting down factories, ONGC has been forced to cut natural gas production by up to one-tenth as customers refused to take supplies because of business disruption.

DCM24 BIZ-CCEA-RRBCCEA approves recapitalisation of RRBsNew Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a Rs 1,340-crore recapitalisation plan for regional rural banks (RRB).DCM13 BIZ-VIRUS-TELECOM-COAICOAI urges subscribers to use data networks responsibly to free up infra for critical servicesNew Delhi: With the government imposing 21-day lockdown to tackle coronavirus spread, industry body COAI on Wednesday urged mobile consumers to use data networks responsibly, so that critical services can run smoothly on communications infrastructure.

DCM40 BIZ- MCAP- LD RILReliance Industries shares zoom nearly 15 pc; reclaims most valued firm tagNew Delhi: Shares of Reliance Industries Limited on Wednesday zoomed nearly 15 per cent, reclaiming the tag of the most valued domestic firm by market valuation surpassing TCS.