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Investors’ wealth tumbled by Rs 6,86,708.74 crore in morning trade on Monday following massive losses in the equity market as sentiments remained muted amid increasing COVID-19 cases in the country. The 30-share BSE benchmark index plunged 1,479.15 points to 48,112.17 in morning trade. Tracking losses in equities, the market capitalization of BSE-listed companies eroded by Rs 6,86,708.74 crore to Rs 2,02,76,533.13 crore. IndusInd Bank was the biggest loser among the 30-share companies pack, declining over Read More

The total area sown to zaid (summer) crops has increased by 16.49 per cent to 67.87 lakh hectare so far this year and maximum coverage has been under paddy, according to Agriculture Ministry data. Zaid, also called grishmkal crops, are sown between February-June, the intervening period between Rabi (winter) harvest and Kharif (monsoon) sowing. “Zaid crops are grown in a 30-90 days window period between rabi harvest and kharif sowing. The government is promoting zaid Read More

India’s largest retail broker Zerodha will not join the likes of Cred, Groww and other promising startups who recently raised funds from investors. Zerodha’s founder Nithin Kamath took to Twitter to explain why his company is not looking to rope in investors even though funds have been lining up to invest. “Right now, is probably the stupidest time for fintech firms like Zerodha to be raising money. It is quite crazy the number of folks Read More

Reserve Bank of India (RBI) on Wednesday said it is putting in place a secondary market government securities acquisition programme or G-SAP 1.0 for this financial year to enable an orderly evolution of the yield curve. According to the central bank, the endeavour through the programme will be to ensure congenial financial conditions for the recovery to gain traction. Under the programme, which will be for the current financial year, RBI “will commit upfront to Read More

Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. Energy relations between India, the world’s third-biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked. New Delhi blames cuts by the Saudis and other oil producers Read More