India Death Toll Rises to 149 due to Coronavirus (Covid-19)

India-Coronavirus-Update-News-medicine-vaccine

The death toll due to the novel coronavirus rose to 149 and the number of cases to 5,194 in the country on Wednesday, according to the Union Health Ministry. While the number of active COVID-19 cases is 4,643, as many as 401 people were cured and discharged and one had migrated, it said. The total number of cases includes 70 foreign nationals. According to the ministry’s data updated at 9 a.m., 25 new deaths have been reported since Tuesday. Sixteen deaths were reported from Maharashtra, two each from Delhi, West…

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Indian rupee fell to 75.85 against the US dollar

Money - Rupee

The Indian rupee fell 21 paise to 75.85 against the US dollar in opening trade on Wednesday, as investors braced for a prolonged period of uncertainty as coronavirus cases rise. Forex traders said rising brent prices and firm US dollar index weighed on the local unit. The rupee opened weak at 75.83 at the interbank forex market and then fell further to 75.85, down 21 paise over its last close. The rupee had settled at 75.64 against the US dollar on Tuesday. According to Reliance Securities rising, brent prices and…

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USFDA Approves New Drug – Cadila Healthcare Shares Climb 15% Today

Cadila Healthcare Ltd

Cadila Healthcare shares shot up as much as 15% in early session on Wednesday, topping up the 15% and 5% gain seen in the previous two sessions. Cadila Healthcare Ltd shares have climbed nearly 35% in the last three trading sessions as the pharmaceutical company won final approval from the US health regulator for its new schizophrenia drug. Cadila Healthcare shares shot up as much as 15% in early session on Wednesday, topping up the 15% and 5% gain seen in the previous two sessions. At 9:33 am, the stock…

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STL grows its patent portfolio by 34% and increases global patent portfolio to 358 patents

Sterlite Technologies - STl

STL [NSE: STRTECH], an industry-leading integrator of data networks, announced it now has a global patent portfolio of 358 to its credit, including 93 patent applications filed in FY20 for its optical connectivity, network services, and virtual mobile edge solutions. The company filed these patents globally – India, the US, Europe, and China. While the world is rapidly evolving with technological advancements, patents enable the creation of unique solutions that can be implemented across global markets. STL’s patents enable its customers with unique application-driven solutions based on STL developed technologies.…

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Tesla would furlough all non-essential workers and implement salary cuts during a shut down

Tesla

Tesla said it planned to resume normal operations on May 4, barring any significant changes, according to an email sent to U.S. employees by in-house counsel Valerie Capers Workman, which was viewed by Reuters. The company, which suspended production at its San Francisco Bay Area vehicle and New York solar roof tile factories on March 24, said in the email the decisions were part of a broader effort to manage costs and achieve long-term plans. Tesla did not immediately respond to a request for comment. The coronavirus pandemic has slashed…

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Stock Market Update: Indian shares slipped more than 1% in early trade on Wednesday

Stock-Market-investor

Indian shares slipped more than 1% in early trade on Wednesday, in line with broader Asia, as investors weighed the slowing rate of COVID-19 infections against rising deaths across the globe. The NSE Nifty 50 index was down 1.17% to 8,711.90 by 0345 GMT, while the benchmark S&P BSE Sensex was 1.12% lower at 29,800.25. India, which has been under lockdown since March 25 to curb the spread of the new coronavirus, reported more than 4,000 infections and over 120 deaths, as of Tuesday. Broader Asian markets erased after two…

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Snowman committed to providing support for the storage and distribution of food and pharmaceutical products

Snowman Logistics Ltd

Snowman Logistics Limited (Snowman) is considered under the ‘essential services’ category as per the Ministry of Home Affairs (MHA), and accordingly, all the warehouses of the Company are functional and fully operational. The The company remains committed to providing support for the storage and distribution of essential goods to the community, especially food and pharmaceutical products. The business of the Company has not been adversely affected and demand for storage has increased. This increase has come in from various segments such as seafood, meat, poultry, QSR products, butter, and healthcare…

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Larsen Et Toubro, has been awarded a Large Project by Indian Oil Corporation Limited (IOCL)

IOC Share Price - Indian Oil

L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has been awarded a Large Project by Indian Oil Corporation Limited (IOCL). The engineering, procurement, construction and commissioning (EPCC) contract is for setting up a new 9 MMTPA Atmospheric Et Vacuum Distillation Unit (AVU) and allied facilities (EPCC-1 Package) for Barauni Refinery Capacity Expansion Project at IOCL’s Barauni Refinery, Bihar. The capacity of the Barauni Refinery is being augmented from current installed capacity of 6.0 MMTPA to 9.0 MMTPA. Awarded through international competitive bidding on Lump Sum Turn…

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SeQuent Scientific provides Covid-19 and Business Update : Press Release

Sequent Scientific Limited

Sequent Scientific Limited (SSL) today announced a business update to bring investors up to speed on the measures the Company is taking to deal with the COVID-19 crisis and our business outlook at large. SSL’s global management team continues to actively monitor the situation to minimize any impact on its employees, customer deliverables, service, and support. SSL Business Continuity Status: In response to the evolving COVID-19 pandemic, SSL has put in place a Business Continuity Plan (BCP) to deal with the crisis. As part of the plan, factory operations across…

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India Takes US to WTO’s Safeguard Committee for Hiking Duties on Steel, Aluminium Derivatives

WTO OMC

India has sought consultations with the US, under the WTO’s safeguard agreement, against American authorities’ decision to increase import duties on derivatives of steel and aluminium products. In January this year, the US issued a presidential proclamation stating that steel and aluminum derivatives would be subject to tariff increase. According to a communication of the World Trade Organisation (WTO), India considers this measure of the US to be a safeguard measure within a provision of General Agreement on Tariffs and Trade 1994 and the Agreement on Safeguards. “India considers tariff…

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