The Times Of India Business

NHAI puts GPS-based tolling on fast-track, invite bids for consultant

The National Highways Authority of India (NHAI) has fast-tracked the plan to launch the GPS-based tolling with one of its subsidiaries floating a tender to engage a technical consultant to prepare the roadmap.

PM lauds Tata Group's effort to mitigate oxygen crisis

Prime Minister Narendra has praised Tata Group's "gesture" to import cryogenic containers for supporting the nation's healthcare system amid rise in coronavirus cases.

Oxygen supplies run low as India grapples with coronavirus 'storm'

Indian authorities scrambled to shore up supplies of medical oxygen to hospitals in the capital, Delhi, on Wednesday as a fast-spreading second wave of coronavirus stretched medical infrastructure to breaking point, officials and doctors said.

Wisconsin deal touted by Trump shrinks from 13k jobs to 1,454

Taiwanese contract electronics manufacturer Foxconn will dramatically scale back its planned investment in an initially planned $10 billion Wisconsin plant, under an agreement announced with the state on Tuesday.

Oil falls for second day as Covid surge to dent demand

Oil prices fell for a second day on Wednesday on concerns that soaring Covid-19 cases in India will drive down fuel demand in the world's third biggest oil importer.

Lockdowns not a solution, will hit economy, force workers to leave: Maruti

Maruti chairman R C Bhargava said lockdowns and curfews are not a solution to tackle rising Covid cases as these would end up hurting the economy as well as lead to migration of the poor and labour from larger cities.

Curbs and labour migration worry companies

India Inc steps on gas to boost oxygen supply

India’s large manufacturers such as Reliance Industries (RIL) are ramping up production of liquid medical oxygen to help battle the coronavirus outbreak that has crippled the economy.

Hero MotoCorp to temporarily halt ops at all plants

The country's largest two-wheeler maker Hero MotoCorp on Tuesday said it is temporarily stopping operations at all its manufacturing facilities across the country, including its Global Parts Center (GPC), in the wake of a surge in Covid-19 cases across India.

Second wave's peak may be reached in mid-May: CEA

Amid surging coronavirus cases across the country, chief economic adviser (CEA) K V Subramanian on Tuesday said the peak for the second wave of the pandemic might be reached by the middle of the next month and expressed hope that its impact on the economy would not be large.

Govt waives import duty on Remdesivir, its APIs

Amid surging Covid-19 cases in the country, the government on Tuesday waived customs duty on Remdesivir, its raw materials and other components used to make the antiviral drug.

Pandemic has increased digital divide: Nilekani

Infosys chairman Nandan Nilekani said that the pandemic has accentuated a digital divide and technology companies should ensure that the benefits of going digital are also reaped by those, who for example, do not own a smartphone.

Global wine consumption dips to lowest level since 2002

Wine drinking worldwide fell last year to its lowest level since 2002 as bars and restaurants shut their doors and tourism travel dried up amid the coronavirus pandemic, a trade body reported Tuesday.

LIC collects highest ever new premium in FY21

The country's largest life insurer LIC on Tuesday said it has collected the highest ever new business premium of Rs 1.84 lakh crore in the fiscal ended March 31, 2021.

RBI activity in forex market balanced, says secy

India on Tuesday rejected grounds used by the US treasury department for putting the country on the currency manipulator watchlist, saying the central bank's activities in foreign exchange market were perfectly balanced and it was not accumulating forex reserves.

ITC to go beyond plastic waste neutrality next fiscal

Cigarettes-to-biscuits conglomerate, ITC, which has been solid waste recycling positive for over 13 years, is now all set to move beyond plastic waste neutrality next fiscal. The company will replace and recycle more plastic than it would use through its operations this year.

Icra cuts its FY22 GDP estimate by 0.5%

Domestic rating agency Icra on Tuesday cut its 2021-22 growth estimate by 0.5 per cent on the upper end, as a newer spate of lockdowns and restrictions get imposed in pockets to arrest the rising Covid-19 cases.

EPFO net new enrolments grow nearly 20% in Feb

Net new enrolments with retirement fund body EPFO grew by nearly 20 per cent to 12.37 lakh in February compared to the same month in 2020, according to the payroll data released on Tuesday, providing a perspective on formal sector employment amid the coronavirus pandemic.

Sensex, Nifty extend losses in choppy trade

Domestic equity benchmarks sensex and Nifty erased early gains to finish with losses for the second day on the trot on Tuesday, as surging Covid-19 cases and growing localised restrictions continued to dent investor sentiment.

Bharat Biotech ramps up Covaxin production capacity

To support vaccination campaigns in India and across the globe, Bharat Biotech has ramped up the manufacturing capacity of its Covid-19 vaccine, Covaxin, to 700 million doses per annum, the vaccine maker said on Tuesday.