Business

The expected growth of 3.6 per cent will be an all-time low in the GDP new series, the rating agency said. In the first three quarters of FY2020, the growth was 5.1 per cent.

GSK is one of several companies in the race to develop a vaccine for the respiratory illness that currently has no treatment and has already killed about 350,000 people.

Singtel, Southeast Asia's largest telco, reported net profit of S$1.07 billion for the year ended March, compared with S$3.10 billion a year earlier. Underlying net profit, which excludes exceptional items, fell 13% to S$2.46 billion.

Amid the grim situation, Subbarao said he sees two silver linings — relative stability of the external sector and bumper agricultural crop production, which would support the economy.

Axis Bank was the top gainer in the Sensex pack, soaring over 13 per cent, followed by ICICI Bank, HDFC Bank, IndusInd Bank and Bajaj Finance.

Some analysts and banks are predicting a balanced oil market as soon as June, but that could be too optimistic, according to Eurasia Group.

ITC was the top gainer in the Sensex pack, rallying over 4 per cent, followed by IndusInd Bank, HDFC Bank, Tata Steel, Titan, UltraTech Cement and L&T.

The report, titled 'Payroll Reporting in India: An Employment Perspective - March 2020', said that since the number of subscribers is from various sources, there are elements of overlap and the estimates are not additive.

The Central Board of Direct Taxes (CBDT) said 16,84,298 tax assesses have received refunds between April 1 and May 21.

India is seeing collapse of demand, dip in petroleum product consumption and fall in private consumption, the RBI Governor said

The report, prepared by the Economic Affairs Division of the Finance Ministry, took comfort from an IMF note which projected a growth rate of 1.9 per cent for the current fiscal.

Given the volume in trade of RIL - RE, it seems that demand is too high.

ITC was the top gainer in the Sensex pack, surging around 3 per cent, followed by L&T, Tata Steel, NTPC, HUL, PowerGrid, HDFC twins and UltraTech Cement.

Hong Kong futures fell 0.23 per cent and Australian shares were set to open lower, tracking US market losses and as diplomatic tensions between Canberra and Beijing rose. Nikkei futures were little-changed versus Nikkei 225 index's previous close.

After rallying over 700 points in a volatile session, the 30-share index finished 167.19 points or 0.56 per cent higher at 30,196.17.

IOC emerged as the lowest bidder for supply of up to 430,000 tonnes of diesel and 50,000 tonnes of jet fuel during July-December and 30,000 tonnes of gasoline through two equal size parcels.