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<ul><li>As Maharashtra remains the worst affected state in India hit by the COVID-19 pandemic, with positive case numbers worse than the year before, the state now has a partial lockdown once again.</li><li>As shutters come down on restaurants, the owners are looking at a fate that they had never imagined.</li><li>Restaurant owners urge the government to find alternatives and support the restaurant industry or it could be the end for many.</li></ul>As Maharashtra remains the worst affected state in India hit by the COVID-19 pandemic, with positive case numbers worse than the year before, the state has now entered a partial lockdown, once again. Night curfew and weekend lockdowns have been implemented. Restaurants, bars, and eateries have once again shut doors on government orders to stop the spread of the virus. But as shutters come down on restaurants, the owners are looking at a fate that they had never imagined. “Things were finally looking up and the hospitality industry had only just started to recover when the night curfew and weekend lockdown got imposed again. While we understand that the government has imposed the curfew keeping in mind public safety and rising numbers, this will probably be the final nail in the coffin for the F&amp;B industry,” Riyaaz Amlani, chief executive officer and managing director Impresario Handmade Restaurants told Business Insider. Amlani is the man behind the popular ‘SOCIAL’ chain of restaurants. Anurag Katriar, president of National Restaurants Association of India (NRAI), wrote on Twitter that it is better to shut restaurants down completely instead of this ‘excruciating slow death’. <div type="twitter" handle="KingKatriar" handlename="Anurag Katriar" image="http://pbs.twimg.com/profile_images/1378563792246697991/CCjImgcA_normal.jpg" favoritecount="5017" retweetcount="1507" status="Dear Maharashtra Govt,Please shut down the F&amp;B biz in the state completely! This slow death is more excruciating.… https://t.co/ypFVWZzwwu" createdat="1617549950000" id="1378730540086423564"></div> Last year in March, as the COVID-19 pandemic had begun, restaurants, like all other businesses, had shut down. While many other businesses gathered steam online, for restaurants the main driver of their business is the dine-in aspect. As things opened up in June 2020, restaurants went on a marketing drive to promote the precautionary measures taken up to keep dine-in safe and secure. “About 75% of our business happens during dinner hours, and now with an 8 p.m. curfew even home deliveries have been hit hard,” said Amlani. Many outlets have shut shop, while many others are now struggling to stay afloat. Popular chain The Thickshake Factory has put a stop on all expansion plans. “While the exponentially rising Covid cases are definitely a cause of concern, a selective sector-wide lockdown of restaurants and bars will hit the already under stress sector very hard. The restaurant industry is already reeling under heavy losses. While local trains are running with full capacity, shutting down restaurants is an unwelcome step in my opinion,” Yeshwanth Nag Mocherla, founder of The Thickshake Factory told Business Insider. Can there be alternatives? Restaurateurs also understand the importance of strict measures to control the COVID-19 pandemic. What they are urging for is an alternative to help their businesses survive. "The hospitality industry is with the government. We will once again support the government like we did last year. But, there will be no hospitality industry if the government does not reciprocate. We are doomed this time around if we are expected to be both, shut for business, and not receive any relief. The government has to meet us somewhere in between," said Pradeep Shetty, senior vice president, Hotel and Restaurant Association of Western India (HRAWI). Shetty has a laundry list for the government to pull out the restaurant industry out of the crisis. “Shut us but do justice to the owners, staff, and their families. Take care of the salaries. Unburden the owners of the property tax, waive off the statutory fees, don't generate electricity and water bills until the industry becomes completely operational again. We understand that the government has to take measures but it's coming at a cost that we just can't bear any more,” he said. Mocherla, too, agrees that even heavy fines for flouting social distancing guidelines could be a better option. But there have been lessons learnt during the pandemic which could come of use. Multiple restaurants have launched their own apps for online deliveries, while chains like Barbeque Nation, who had built a strong reputation for their dine-in business, embraced home delivery. Amlani’s appeal to customers is only one – support restaurants. “We would also sincerely urge customers to order directly from restaurants rather than aggregator apps to help us tide through what is once again going to be a hard time for us,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/pepperfry-co-founder-ashish-shah-gets-candid-about-its-ipo-plans-says-profitability-is-right-around-the-corner/articleshow/81908005.cms">Pepperfry co-founder gets candid about its IPO plans, says profitability is right around the corner</a> <a href="https://www.businessinsider.in/india/news/lockdown-trends-are-starting-to-re-emerge-as-india-faces-second-wave-of-covid-19-infections/articleshow/81912266.cms">Lockdown trends are starting to re-emerge as India faces second wave of COVID-19 infections</a>

Maharashtra restaurant owners fear the current lockdown could be the final nail in the coffin for their business

<ul><li>Indian share markets bore the brunt of panic selling, with the benchmark <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> falling by over 3.5% during the day’s trading. </li><li>The panic selling wiped off over ₹8 lakh crore of investor wealth, but the worst might be over for now. </li><li>Market analyst Arun Kejriwal suggested that the recovery could happen as soon as this week itself. </li></ul>Rising COVID-19 cases and lockdown paranoia sent the share markets reeling under panic, wiping off over ₹8 lakh crore of investor wealth. Both Sensex and Nifty slumped by over 3.5% as the markets feared the second wave of COVID-19 leading to lockdowns. However, investors who are feeling the heat today might find solace that analysts expect that the worst might be over for now. “Fears of an impending lockdown amid rising COVID-19 cases led to panic selling today. The markets have accounted for the expected lockdown in Maharashtra, and may stage a recovery as soon as this week,” market analyst Arun Kejriwal told Business Insider India. Small and mid-cap investors singed under the sell-off while small and mid-cap indices fell by 4.5-5%, Sensex declined by a relatively lower 3.5%. Nifty was hovering around the 14,300 mark at 2 pm on April 12, down by over 500 points from its previous close on April 9, the previous working day. <div type="image" title="Nifty March-April 12, 2021." msid="82030279" hostid="261" caption="&amp;lt;p&amp;gt;The benchmark Nifty50&amp;#39;s performance from March 1, to April 12, 2021&amp;lt;/p&amp;gt;"></div> The worst losers were spread across banking, automobile and infrastructure sectors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">290.9 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.58% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">756.5 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.15% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">851.75 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.78% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4535.55 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.85% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">329.9 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.54% </td></tr></tbody></table> Source: NSE, as of 2:30 pm, April 12, 2021. However, Binod Modi of Reliance Securities struck a concerned note. “Domestic equities do not look to be inspiring at the moment. A sharp increase in Covid-19 daily cases in the country, and possibility of large economic restrictions are expected to keep investors nervous in the near term,” he was quoted by PTI. The focus is on the impending lockdown in Maharashtra, which is the worst affected state in terms of rising COVID-19 cases across the country. This, Modi said, is also weighing in on investor sentiments. According to Kejriwal, the next support level for Nifty is 14,200. Based on the existing number, investors still have a cushion of around 100 points. Kejriwal explained that the markets could stay above this level for this week. Much depends on the earnings of the leading three information technology (IT) services companies – TCS, Infosys and Wipro – all of whom are scheduled to announce their March 2021 quarter results this week, starting with TCS today (April 12). The results of these companies will decide which way the IT sector goes after today’s panic sell-off. This will also have an impact on the overall markets, according to Kejriwal. If you were holding off on buying stocks, now could be a good time. After all, corrections and sell-offs present an opportunity. American investor Warren Buffet had once said, “be fearful when others are greedy, and greedy when others are fearful.” SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/flipkart-partners-with-adani-group-to-set-up-a-sprawling-five-lakh-square-feet-fulfilment-centre-in-mumbai-and-theres-more/articleshow/82027201.cms">Flipkart partners with Adani Group to set up a sprawling five lakh square feet fulfilment centre in Mumbai – and there’s more</a> <a href="https://www.businessinsider.in/tech/news/aadhaar-pan-and-bank-account-numbers-leaked-in-upstox-data-breach/articleshow/82025949.cms">Discount broker Upstox suffers data breach – Aadhaar, PAN and bank account numbers leaked</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-infosys-jsw-steel-and-other-stocks-to-watch-out-for-on-april-12/slidelist/82024378.cms">TCS, Infosys, JSW Steel and other stocks to watch out for on April 12</a>

Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts

Equity benchmark <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> advanced over 150 points in early trade on Friday, tracking gains in index majors <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> twins, <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> and <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> amid largely positive cues from global markets. The 30-share BSE index was trading 160.43 points or 0.33 per cent higher at 48,964.11. Similarly, the broader <keyword id="372424" type="COMPANY" weightage="20" keywordseo="NSE-Nifty">NSE Nifty</keyword> rose 63.35 points or 0.43 per cent to 14,644.80. UltraTech Cement was the top gainer in the Sensex pack, rising over 2 per cent, followed by Asian Paints, HCL Tech, HDFC, <keyword id="11107551" type="UNKNOWN" weightage="20" keywordseo="tech-mahindra-and-mm-">Tech Mahindra and M&amp;M.</keyword> On the other hand, ICICI Bank, Reliance Industries, Bajaj Finance and Axis Bank were among the laggards. In the previous session, Sensex ended 259.62 points or 0.53 per cent higher at 48,803.68, and <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">Nifty</keyword> advanced 76.65 points or 0.53 per cent to 14,581.45. Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹979.70 crore on Thursday, according to provisional exchange data. "A continued surge in the second wave of COVID-19 cases in the country, which already crossed 2 lakh daily cases, has certainly dented investors' sentiments. "However, the government's strong effort to expedite vaccination progress in the country by allowing multinational vaccines in domestic markets and absence of complete lockdown in <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> and Delhi offered some comfort to equities," said Binod Modi Head-Strategy at Reliance Securities. Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo were trading on a positive note in mid-session deals, while Seoul was in the red. Equities on Wall Street too ended with gains in overnight sessions. Meanwhile, international oil benchmark Brent crude was trading flat at USD 66.94 per barrel. SEE ALSO: <a href="https://www.businessinsider.in/business/news/flipkart-acquires-cleartrip-in-an-effort-to-cement-its-position-in-the-travel-booking-segment/articleshow/82081931.cms">Flipkart acquires Cleartrip in an effort to cement its position in the travel booking segment</a> <a href="https://www.businessinsider.in/science/health/news/remdesivir-injection-price-jumps-five-times-as-covid-19-cases-rise/articleshow/82083414.cms">The utter chaos and confusion over Remdesivir in India is making the COVID-19 second wave worse</a> <a href="https://www.businessinsider.in/careers/news/jira-and-trello-maker-atlassian-is-looking-to-hire-300-engineers-in-india-in-2021/articleshow/82083765.cms">Atlassian, the maker of Jira and Trello, is looking to hire 300 engineers in India this year</a>

Sensex jumps over 150 points in early trade, Nifty tests 14,650 — UltraTech Cement, Asian Paints, HCL Tech, HDFC, Tech Mahindra and M&M top gainers

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Maharashtra restaurant owners fear the current lockdown could be the final nail in the coffin for their business

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Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts

Rounak Jain

Sensex jumps over 150 points in early trade, Nifty tests 14,650 — UltraTech Cement, Asian Paints, HCL Tech, HDFC, Tech Mahindra and M&M top gainers

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