Markets rebound on positive global cues; PM Modi holds meet over COVID-19 | Top Headlines
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Top headlines of the day: -Market capitalization and trade gains of Indian top notch companies A noticeable increase in RIL shares rose to 2 percent and has hit the NSE with an all-time high of Rs 1,648.55. Now the market capitalization has crossed Rs 11 lakh crore mark. Sensex is said to be up by 530 points and it is led by media mettles and the banks. It is also said that all sectors are firmly in the grain. The top-notch gainers in the market are said to be on the front line index, JSW steel has taken the top spot. HDFC, ICICI, and Bajaj Finance have been holding out in the grains along with Indusland Bank and SBI have witnessed gain in their stocks. RIL and Zee entertainment have also noticed an increase in stocks. Watch the video to know more! -RBI seeks Rs 2 lakh crore loss to banks in bank moratorium case Bank of India and IBA are said to oppose waiving interest in the moratorium period. The Supreme Court had asked the Reserve Bank of India to consult finance ministry, as there was a petition filed in the Supreme Court by a borrower in regards to the waiver on interest in the moratorium period. The response to the Supreme Court by Reserve Bank of India was to allow the waiver on interest. It is said that it will impact the financial liability of the banks and impact the financial stability of the overall system. It is also said that the bankers do charge revenue for the banks and it would end up impacting the overall interest of the depositors. Watch the video to know more! -PM Modi to hold talks with Chief Ministers; may ask to focus on more testing & screening According to the Union Health Ministry, India has recorded over 3.2 lakh COVID-19 cases so far. PM Modi will hold a video conference with the heads of 21 states/Union Territories, including Punjab, Assam, Kerala, Chandigarh, Goa, Manipur, Nagaland, Ladakh, Puducherry, Uttarakhand, Jharkhand, Chhattisgarh, Tripura, Himachal Pradesh, Arunachal, Meghalaya, Mizoram, Andaman and Nicobar Islands, Dadar Nagar Haveli, Daman and Diu, Sikkim and Lakshadweep.Ahead of PM Narendra Modi's meet with the Chief Ministers, sources say he may ask CMs to push for the reopening of the economy, increased testing, screening and medical infrastructure. The CMs are likely to ask for more funds to combat COVID19. ET Now's Ruchi Bhatia get us more details! -Tata Motors big loss in Q4 | P.B Balaji to ET Now India's Tata Motors Ltd said on Monday it expects a significantly weak 2021 first quarter. Tata Motors' consolidated net loss was Rs 9894 crore ($1.30 billion) for the fourth quarter ended March 31, compared with a profit of 11.17 billion rupees a year earlier. A set of strategic action will be undertaken in the coming time to significantly de-leverage Tata Motors Group loss, says Group CFO P.B Balaji in an exclusive conversation with ET Now. Listen in.
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