Shares of pharmaceutical, including healthcare facilities companies, were in demand at the bourses on Monday, with the S&P BSE Healthcare index hitting a new high after the government banned export of antiviral drug, Remdesivir (injection and API both) in order to address increased demand in view of rising Covid-19 cases in the country.
India hit a new coronavirus infection record with 1,68,912new cases, the highest single-day rise so far, taking the total tally of cases to1,35,27,717, according to the Union Health Ministry data updated on Sunday.
The national COVID-19 recovery rate has fallen below 90 per cent.
The rupee declined 39 paise against the US dollar in Monday's session, looking set to extend its losing streak to the sixth day in a row as investors were spooked by the fast-rising Covid-19 cases in the country that threaten to derail India's economic recovery. Meanwhile, investors were also cautious ahead of the release of key macro-economic data later today.
The domestic unit slipped to 75.13 versus the US dollar, a level seen in August last year.
RMZ Corp, one of Asia's largest privately-owned real estate owners & developers and Canada Pension Plan Investment Board ("CPP Investments") announced today that they have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad.
CPP Investments will invest Rs 15,000,000,000 (USD 210 million), which will allow for the expected development of 10.4 million square feet of high-quality commercial office sites.
Flipkart has signed a strategic and commercial partnership with the Adani Group to strengthen the e-commerce company’s supply chain, the two announced on Monday.
Flipkart will work with Adani Logistics, which is owned by Adani Ports & Special Economic Zone Limited. In addition, Flipkart will set up its third data centre at Adaniconnex Private Limited’s facility in Chennai.
A study by IIT-Bombay has revealed State Bank of India and several other banks in the country have been imposing excessive charges on certain services wbich are provided to those with zero-balance or Basic Savings Bank Deposit Accounts (BSBDA). According to the study, the decision by SBI, which is country's largest public lender, to levy a charge of Rs 17.70 for every debit transaction beyond four by the BSBDA account holders is not reasonable.
Amid the rising coronavirus COVID-19 cases in Mumbai and other parts of Maharashtra, Chief Minister Uddhav Thackeray-led government in the state is planning to restrict the general public from using Mumbai local train services in order to curb the spread of the deadly virus.
The Maharashtra government may reimpose restrictions on the suburban services to break the chain of COVID-19 transmission, reported a leading portal.
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