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Indian Herbal Extract Has Anti-diabetic Properties

Withania coagulans or Paneer dodi extracts packed in natural polymers can reduce blood glucose levels, according to the study done in diabetic mice, published in iACS Omega/i.


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India Inches Towards 60,000 COVID-19 Cases, Say Sources

Total number of COVID-19 cases in the country mounted to 59,662 on Saturday, with 3,320 cases and 95 deaths reported in the last 24 hours, the Union Health Ministry said.


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India Switches Off Power, Lights Up to Thank Corona Warriors

Indians have lighted diyas, candles or flashed mobile torches for nine minutes in their balconies or outside their main gate, as a mark of respect to the Corona Warriors.


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India-US Partnership to Fight COVID-19 Pandemic

Coronavirus outbreak: Prime Minister Narendra Modi and US President Donald Trump have agreed to deploy the full strength of the India-US partnership to


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India Performs 2nd Largest Number of Transplants in the World

"India performs the second largest number of transplants in the world, next only to USA as per data available on the Global Observatory on Donation and Transplantation" said Dr.


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India Inches Towards 60,000 COVID-19 Cases, Say Sources

In India, the total number of COVID-19 cases has mounted to 59,662 on Saturday, with 3,320 cases and 95 deaths reported in the last 24 hours, the Union Health Ministry said.


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India COVID-19 Tally Surpassed 46K, Despite One of the Longest Lockdowns

Number of novel coronavirus cases in India soared to 46,433 with 32,138 active cases, despite a 40-days and above lockdown period completed in an effort to contain the spread of the COVID-19.


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India's COVID-19 Count Stands At 39,980

2644 new cases and 83 fatalities in the past 24 hours, the total number of COVID-19 cases in the country climbed to 39,980. Of the total cases, 28046


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India Should Play Key Role in Developing COVID-19 Vaccine: WHO

India, Indonesia and Thailand must play a lead role in overcoming the ongoing COVID-19 pandemic," the World Health Organization (WHO) said on Wednesday.


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India's Battle Against COVID-19 is People Driven: PM in 'Mann Ki Baat'

Addressing people through the Mann ki Baat program, Prime Minister Narendra Modi said India's fight against coronavirus was people-driven. Speaking


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India Saved From Going Into Stage 3

Union Health Minister Harsh Vardhan on Friday said we have saved India from going into Stage 3 or community transmission stage, and have also fared better than many countries.


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India Donates Medical Aid Worth 5 Million USD To Fight COVID-19

India has donated USD 5 million worth of medicines and related supplies to the world till now to combat COVID-19 pandemic. Sources in the ministry


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India's COVID-19 Positivity Rate Remained 4.5% Before and After Lockdown

Before the lockdown and 30 days into the lockdown, India's coronavirus positivity rate has remained constant at 4.5 per cent, the Centre said on Thursday.


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Solutions for those managing risk in climate disasters

Indian farmers take aim at climate disasters through bundling high-tech solutions.


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Indians Spend Over 1,800 Hours A Year On Smartphone Averagely

An average Indian is spending one-third of his or her waking hours on phone - nearly 1,800 hours a year. Three out offour respondent said if smartphone


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Indian water policy initiative receives World Water Day global award

Tokyo, Japan (March 21, 2014): A research program that pinpointed how perverse subsidies were causing India to export virtual water has won the coveted ‘Water for Life’ UN-Water Best Practices Award. The IWMI-Tata Water Policy Research Program (ITP), a partnership between the International Water Management Institute (IWMI), Colombo, Sri Lanka, and the Sir Ratan Tata […]


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Tax-News.com: India Mulling Tax On Foreign Solar Products

India is proposing to levy a safeguard duty of 70 percent on imports of solar-power equipment from China and Malaysia.


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Tax-News.com: India To Probe Chinese 'Dumping' Of Fluoroelastomers

India's Department of Commerce has initiated an anti-dumping investigation into Fluoroelastomers from China.


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Tax-News.com: India To Amend GST Rates On Oil, Gas Industry

India's Goods and Services Tax Council has proposed new GST rates for the oil and gas industry.


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Indian Indices Trade Higher; Reliance Industries & ICICI Bank Top Gainers

Posted by Equitymaster
      

Share markets in India are presently trading on a positive note. Benchmark indices advanced today tracking firm global cues.

Further, talks of an economic stimulus for small businesses battered by the coronavirus outbreak improved sentiment.

Reportedly, the government may unveil fiscal stimulus amounting to 0.3% of the country's gross domestic product, focusing on small and medium sized businesses, real estate firms and banks.

The BSE Sensex is trading up by 524 points while the NSE Nifty is trading up by 146 points.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 0.7%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while power stocks are witnessing selling pressure.

The rupee is currently trading at 75.44 against the US$.

Gold prices are currently trading down by 0.1% at Rs 46,134.

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Speaking of the current stock market scenario, after a sharp rally in the past few weeks, the markets have turned volatile again.

You would be interested in knowing when the market will likely bottom out.

Vijay Bhambwani, editor of Weekly Cash Alerts, has the answer and he has recorded a video about it.

You can check the same here - This is When the Stock Market Will Bottom Out

Moving on, market participants are tracking Shree Cement share price, TCI Express share price, and SBI Cards and Payment Services share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Ambuja Cement, IndusInd Bank, Axis Bank, Tech Mahindra, Reliance Industries, Marico, Kansai Nerolac, NIIT Technologies, Persistent Systems, SKF India.

In news from the banking sector, public sector banks (PSBs) sanctioned loans worth Rs 5.66 lakh crore for the March-April period to 41.81 lakh accounts, according to the finance ministry.

The borrowers represented the micro small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors.

Reportedly, PSB loans amounting to Rs 265 billion have been sanctioned in 2.37 lakh cases for MSMEs.

This is part of the PSB initiative to prioritise pre-approved emergency credit lines and enhanced working capital requirements to the sector.

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Meanwhile, PSBs sanctioned loans worth Rs 773.8 billion to non-banking financial companies (NBFCs) and housing finance companies (HFCs) between March 1 and May 4.

Including the Reserve Bank of India's (RBI) targeted long term repo operations (TLTRO) window, PSBs extended Rs 1.08 lakh crore of financing to ensure business stability and continuity.

The finance ministry said that the three-month loan moratorium facility announced by the RBI has been availed by 3.2 crore PSB accounts.

On Thursday, Finance Minister Nirmala Sitharaman said that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic with PSB sanctioning loans worth Rs 5.66 lakh crore in just two months.

Speaking of the banking sector, the low access to credit for micro small and medium enterprises (MSMEs) tells us there is a huge opportunity for lenders.

This is evident from the chart below:

India's Huge Lending Opportunity

Of the 60 million MSMEs in India, only 11% had access to credit from organised lenders. Most of them are self-financed or get credit from unorganised sources.

Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...

  • Self-financing limits the growth of these MSMEs. On the other hand, high interest rates from unorganised sources makes it difficult for them to earn profits.

    The Modi government is looking at various ways to correct this problem. Mudra loans, online loans facilities are being made available to MSMEs.

    Slowly but surely, lenders are sensing the huge opportunity that lies ahead for this sector.

    Banks and other financial firms with prudent lending practices and strong distribution networks will benefit from this megatrend.

Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.

Moving on to news from the FMCG sector, shares of Hindustan Unilever (HUL) rose 4% today after institutional investors bought stake in the company via open market on Thursday.

The NSE bulk deal data showed that foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 129 million shares of HUL at an average price of Rs 1,902.

UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals, yesterday.

According to the term sheet, over 133 million shares were offered in the range of Rs 1,850-1,950 to investors through a special block window.

The deal is valued roughly between Rs 246 billion to Rs 259 billion.

Note that last week, HUL reported a 7% decline in volumes in Q4FY20. The company's profit before tax fell 10.6% to Rs 19.9 billion, while net profit declined 1.2% year-on-year (YoY) to Rs 15.2 billion.

HUL share price is presently trading up by 3%.

To know more about the company, you can HUL's latest result analysis on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.



This article (Indian Indices Trade Higher; Reliance Industries & ICICI Bank Top Gainers) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.


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Tax-News.com: Indian GST Council Approves Changes To Filing Rules, Rates

India's GST Council agreed a number of changes to the country's goods and services tax regime, at its meeting on September 20, 2019.


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Tax-News.com: India Sets Arm's Length 'Tolerable Range' For 2019-20

India's Ministry of Finance has released a new Notification that sets the "tolerable range" for arm's length dealings.


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Tax-News.com: India Again Extends Deadline For 2017-18 Annual GST Return

India has again extended the due date for furnishing the annual GST return and reconciliation statement for the 2017-18 fiscal year.


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Tax-News.com: India Seeking To Bury Legacy Indirect Tax Disputes This Year

India will launch its legacy dispute scheme starting September 1, 2019.


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Tax-News.com: India Gazettes Law For Budget Tax Changes

India has published in its Official Gazette legislation to give effect to tax announcements in the 2019-20 Budget.


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Tax-News.com: India Consults On Unitary Taxation Proposals

India's Central Board of Direct Taxes has launched a new consultation on proposals to amend Article 7 of India's double tax treaties on permanent establishment, and rule 10 in the Income Tax Rules, 1962, to establish a formula to bring within the charge to Indian tax a proportion of profits of a multinational deemed to have a significant digital presence in India. The country is considering using a formulary apportionment approach, akin to that proposed under the EU's Common Corporate Tax Base initiative.


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Tax-News.com: India Finalizes Details Of New Real Estate GST Regime

India's GST Council has put flesh on the bones of its plans to introduce a new goods and services tax regime for real-estate transactions.


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Tax-News.com: Indian GST Council Endorses GST Rate Changes For Housing

India's GST Council has decided on a number of goods and services tax regime amendments to boost the availability of affordable housing in the country.


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Tax-News.com: Switzerland To Hand Over HSBC Data To India

India is to receive bank account information from HSBC, after Switzerland's highest court ruled that the bank is obligated to provide data requested where the leaked data has not been purchased.


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Tax-News.com: India To Expedite Resolution Of Tax Disputes In June

India's Central Board of Direct Taxation announced on June 7, 2018, that during the first two months of June tax officials have been tasked with resolving disputes with taxpayers.


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Tax-News.com: India Consults On Advance Pricing Agreement Regime Changes

India's Central Board of Direct Taxes has launched a consultation on changes to the country's tax ruling process and forms to enable the country to exchange information on tax rulings with other countries' tax authorities, as proposed by the OECD in its base erosion and profit shifting (BEPS) project.


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Tax-News.com: India Adds BEPS Provisions To Qatar Tax Treaty

India has approved amendments to its double tax agreement with Qatar.


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Tax-News.com: India Consults Taxpayers On Income Tax Law Reform

India has launched a consultation on efforts to reform the country's 1961 income tax law, to be led by a newly constituted task force.


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Indian worker killed in Singapore accident

A Singapore-based Indian worker and his colleague were killed in an accident involving a car and the motorcycle they were on, it was reported.

The Police were alerted on Saturday morning that a male motorcyclist from Malaysia, 27, and the pillion rider, Sulthan Abdul Kathar Rahman Kareem, 33, from India, were involved in an accident with a sedan car at the junction of Hougang Avenue 3 and Airport Road, The Straits Times reported on Sunday.

The two were taken to the Changi General Hospital, where they were later pronounced dead. The two colleagues were heading to a restaurant where they worked, said a relative of Sulthan's.

"My cousin is the sole bread winner of his family, who were living back home in the Kottaipattinam village in southern India," the relative added. Prior to his death, Sulthan had been working in Singapore for over four years.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever


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Indian-American Democratic National Committee CEO steps down

Indian-American Seema Nanda has announced that she was stepping down as the CEO of the Democratic National Committee (DNC), it was reported. The Boston College Law School and Brown University grad, who took over as the DNC CEO in June 2018, succeeding Mary Beth Cahill, announced the move via Twitter on Friday, the American Bazaar reported.

"After two years, I will be stepping down as CEO of the DNC. I couldn't be prouder of the infrastructure we have built, the primary process we have run, and the team we have built. "I look forward to continuing the fight for our democracy and to elect Democrats everywhere," she added.

Nanda however, did not reveal the reason behind her decision nor did she announce her next move. During her tenure, Nanda worked closely with DNC Chair Tom Perez, managing the group's day-to-day operations.

The two had worked together at the Department of Labor during the former administration of President Barack Obama. Perez's term as DNC chair will end after the November presidential election. While accepting the position in 2018, Nanda described the job as "the opportunity of a lifetime".

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever


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Indian girl brings smile on withered faces of US nursing home residents amid COVID-19 lockdown

Washington: Girls her age play Candy Crush or like watching cartoons, but 15-year-old Hita Gupta peps up hundreds of lonely Americans, including the elderly and children, marooned in nursing homes due to the COVID-19 lockdown by sending them gift packs and spirit-lifting notes.

The 10th-grade Indian-American student from Pennsylvania's Conestoga High School has an NGO 'Brightening A Day' and is using it to spread love, hope and joy among America's nursing homes' residents, especially senior citizens, to help them keep at bay their boredom arising from the COVID-19 restrictions.

Gupta brightens up their lives by sending them handwritten notes and gift packs containing puzzle and colouring books and a packet colour pencils.

"It saddens me to think of how lonely or depressed many nursing home residents feel because they cannot see their loved ones. Our seniors are already one of the most isolated groups. A research has shown that more than 40 per cent of seniors regularly feel lonely," Gupta told PTI in an email interaction.

"During this uncertain time, which is causing panic among many seniors, it's our responsibility to let them know that they are not alone. I initially started sending gift packs to nursing homes using self-funding. Now, I have sent them to residents of 16 local nursing homes," she said.

Each gift pack contains one puzzle book, one colouring book, and a pack of colour pencils/crayons, Gupta said. "It also contains an uplifting note written by my 9-year-old brother Divit Gupta," she said.

Her NGO has reached more than 2,700 kids and seniors in 50 hospitals and nursing homes in seven different States in the US with hand-made cards on holidays like Christmas and Valentine's Day. "We have also sent school supplies and cards to orphanages in India," Gupta said.

Gupta's initiative has won her praise from one and all.

"Need some inspiration? 15-year-old Hita Gupta, from Pennsylvania, USA, is brightening the lives of nursing home residents with gift packs through her NGO, Brighten A Day," the US Embassy in New Delhi wrote on its Facebook page.

"She aims to lift the spirits of those who are in need of some cheer by sending them love, hope, and joy through cards and gifts. During the COVID-19 lockdown period, she is sending handwritten notes and gift packs to cheer the residents and help them overcome loneliness and isolation. More power to you Hita!" the embassy said.

Nursing homes throughout the US are limiting the interaction of senior citizens who remain mostly confined to their rooms. Outsiders are also prohibited form visiting them, resulting in feelings of loneliness and isolation in many of them.

The US is the worst affected country from the coronavirus, with 842,000 infections and over 46,000 deaths reported so far. According to Centre for Diseases Control and Prevention, eight in every 10 deaths due to the coronavirus reported in the US are adults, and people who are 65 years old or above.

Globally, the coronavirus pandemic has claimed over 185,000 lives and infected more than 2.6 million people, according to the Johns Hopkins University data.


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India's physically disabled players finally get prize money from BCCI

The two-month wait endured by India's Physical Disability T20 World Series-winning team for their prize money from the BCCI finally ended on Saturday after the Indian cricket board ensured that the Rs 3 lakh [to each player and support staff member] was remitted in their respective bank accounts.

mid-day on Friday had highlighted the hopes players had from the BCCI after the cash reward was announced on March 4. The BCCI deposited Rs 2.70 lakh [after tax] to all 18 players and five support staff members of the winning team.

It was a huge relief for Suganesh Mahendaran, son of an auto rickshaw driver. "I didn't expect the money to come so soon. When my teammate Ramesh Naidu informed me, I just couldn't believe it. This money is quite precious and we will use it very carefully," said the hard-hitting Tamil Nadu all-rounder, who changed the complexion of the final v England with his 11-ball 33 to help clinch the title in August 2019 at Worcestershire.

Naidu was thrilled too. "It is a huge amount for jobless cricketers like me. I will give this money to my father as he knows how best to utilise it," said Naidu, who is doing his M Tech from IIT Chennai.

Coach Sulakshan Kulkarni thanked mid-day for highlighting the players' cause. "We all received the money from BCCI. mid-day's article has made a lot of difference. So, a big thank you," said the former Mumbai wicketkeeper and Ranji Trophy-winning coach.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news


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India's 'Hitman' Rohit Sharma turns 33. Let's relive his three double tons in ODIs

As the ace cricketer Rohit Sharma turns 33 today, let us go down the memory lane and relive the three double tons scored by the right-handed batsman in the ODI format.

Rohit, popularly known as the 'Hitman' made his ODI debut on June 23, 2007, but the batsman came into his known once he became the full-fledged opener in the limited formats.

Opening the batting, Rohit played his natural game and dominated the bowling attacks from the very start of his innings.

It is a testament to Rohit's aggressive batting abilities that the batsman has three double tons to his name in the ODI format.

Now, let's relive Rohit's three double tons in the 50-over format.

209 vs Australia, Bengaluru, 2013

Batting first, Rohit was slow off the mark and he took his time in building the innings. However, as soon as he got the scheme of things, Rohit started to go after the spin bowlers and in no time went past the 100-run mark. After reaching his century, he shifted gears and went on to bring up his first double century in ODIs. He went on to play a knock of 209 off just 158 balls. This innings helped India post 383 runs on the board, and the effort helped the side win the match by 57 runs.

264 vs Sri Lanka, Kolkata, 2014

Rohit went on to score 264 runs off just 173 balls against Sri Lanka at the Eden Gardens, Kolkata and this knock remains the highest score by any batsman in the 50-over format to date. The 32-year-old was given a reprieve when he was just on a score of four runs, and the batsman went on to make the most of it as he scored 260 more runs to make the Sri Lankan bowlers toil on the field.

208 vs Sri Lanka, Mohali, 2017

Batting first, Rohit Sharma went on play a knock of 208 runs off just 153 balls to take the Men in Blue's score to 392/4. The right-handed batsman's innings was studded with 13 fours and 12 sixes. This effort helped India win the match by 141 runs.

In the 2019 Cricket World Cup, Rohit Sharma finished the tournament as the highest run-scorer after registering 648 runs from just nine matches at an average of 81.00.

During the tournament, he had also become the first batsman to score five centuries in a single edition of the World Cup.

Rohit, who is now the vice-captain of the ODI team, has played 224 ODIs, 108 T20Is and 32 Tests so far.

The limited-overs vice-captain has so far scored 14,029 runs across all formats.

In the longest format, he has also reinvented himself as the batsman started opening the batting in Test cricket last year.

Rohit would have been in action for the Mumbai Indians had the Indian Premier League (IPL) commenced from March 29.

However, the tournament has been suspended indefinitely due to the coronavirus pandemic.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever


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Indian players aware of online corrupt approaches, quick to report: ACU chief

The threat of online corrupt approaches does not cause much anxiety to BCCI's head of Anti Corruption Unit (ACU) Ajit Singh, who says Indian players are well aware of the modus operandi of fixers and are quick to report anything suspect. The ICC ACU head Alex Marshall, in an interview to 'The Guardian', said that prolonged lockdown and players using various social media platform could lead to corrupt approaches being made and people need to tread carefully. Singh said BCCI ACU is in control. "...we have made our players aware about the way people approach you and modus operandi through social media. We have told them 'look this is how they (potential fixers and bookies) would approach you'," the veteran IPS officer told PTI in an interaction. "(They will) try and behave like a fan and then try to meet you through someone who may be your acquaintance," he added. "Somehow these elements try and touch base with players. Most of them (India players), whenever it happens, they do report to us that I have got a contact."

Most of the top players, with millions of followers, have been very active online with Q and A sessions on twitter, interactive chats on instagram and Facebook live. So is the BCCI's ACU team tracking the online content? "Whatever can be tracked online, we do that. But obviously the physical verification part of going out and checking locations is out of question in times of a lockdown," he spoke about practical problems. "But if something comes to our notice, it automatically goes into our database and once lockdown is over, we will verify those if the need arises." Singh said the easiest aspect of tracking social media content is that it doesn't require too much manpower. "A few men who know their jobs can do it pretty well," the former DGP of Rajasthan said. But Singh said that, in his two year stint, all current India players have been honest and upright, very aware about their responsibilities. "We are not adversaries of players. The players and ACU are one team. It's the people who are trying to corrupt the games, they are the ones we need to track down." He said that both tracking social media and physical verification of corrupt approaches has its own set of challenges.

"Those who were trying to corrupt the players with physical presence and those using fake IDs on social media handles, converge at some point," he said. "Either it's the same person with a fake ID who tries to approach the player or uses someone on his behalf. So there is a pattern of convergence. One has to follow both the lines," he added. Singh said even former players have approached the ACU when they have found something unusual. "There have been things coming from current players and also retired players. There has been information coming from them. Things that they doubted, which look suspicious. "Any information is useful. Even if it's a false alarm, it raises the awareness level of the players as well as the skills of the team investigating it," the retired top cop said. There are some structural plans for the BCCI's ACU which will only materialise once normalcy returns after the COVID-19 pandemic. "Every zone will have a zonal head as it had been said earlier. A few zones don't have zonal heads, so we will fill those posts," he said.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever


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India qualify for 2021 ICC Women's World Cup

Indian women's cricket team has qualified for the International Cricket Council (ICC) Women's ODI World Cup 2021, the cricket governing body announced on Wednesday. "The ICC Women's Championship Technical Committee (TC) has decided that teams will share points in all three series in the ICC Women's Championship that did not take place during the competition window," the ICC said in a statement.

The series between India and Pakistan could not be played because of a 'Force Majeure' event after the Board of Control for Cricket in India (BCCI) demonstrated that it was unable to obtain the necessary government clearances to allow India to participate in the bilateral series against Pakistan that forms part of the ICC Women's Championship.

Also, the coronavirus pandemic forced the cancellation of two series. South Africa was to host Australia and Sri Lanka was to host New Zealand in the last round of matches. New Zealand, the hosts of the World Cup 2021, and four highest-placed team on the ICC Women's Championship points table, has qualified for the premier tournament.

Australia topped the table with 37 points followed by England (29), South Africa (25) and India (23). Pakistan (19), New Zealand (17), West Indies (13) and Sri Lanka (5) completed the table. The ICC Women's Cricket World Cup Qualifier is scheduled to be played from 3-19 July in Sri Lanka, this is subject to review due to the COVID-19 pandemic.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever


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Indian Banking Sector Amid the Corona Crash - 10 Points to Know

Posted by Equitymaster
      

Most sectors in the Indian share markets have been drowning in a sea of red due to the crash led by coronavirus outbreak. The biggest blow, however, has been felt by the banking sector.

The sector was already reeling under pressure due multiple factors for quite some time. And things started getting worse since the start of 2020.

Here's a timeline showing some major events that happened in the Indian banking sector and led to the slowdown we are witnessing in the past few months...

  1. Mounting Pile of Bad Loans: Indian banks have for years worked to beat down mounting piles of bad loans of the sort that led to the Yes Bank fallout. The ratio of gross non-performing assets (NPAs) at Indian banks rose to 11% in 2018 from about 2% in 2008, before starting to ease off.
  2. IL&FS Crisis Kicks Off the Downward Spiral: Foreign institutional investors (FIIs) were heavily positioned in the Indian banking and financial space, and stocks in the sector witnessed maximum inflows during good times. However, they started noticing cracks with consistent negative performance in the banking and financial sector and started moving out of them. The downward spiral for these sectors began since IL&FS crisis camec out into the open.
  3. Credit Quality Deteriorates: After being the most preferred sector for over half a decade, things started changing for stocks in the banking sector since 2020. This came as the sector witnessed a double blow in the form of YES Bank fallout and prolonged economic slowdown. And all this only led to credit quality deterioration for banks.
  4. YES Bank Crash: The Yes Bank crisis and the sight of Rana Kapoor being taken to court in early March came in as one of the worst months for India's banking sector.
  5. Bailout for Yes Bank: To save Yes Bank, a range of Indian lenders led by the State Bank of India (SBI), infused funds in return for an equity stake. The episode came as a jolt to investors, who worried it could exacerbate vulnerabilities in the financial system.
  6. Panic Selling Amid SC Order: Then came another blow. Before the dust settled on Yes Bank, the Supreme Court ruled that telecom operators must pay dues worth billions owed to the government. This caused panic-selling in bank stocks due to their heavy exposure to the telecoms sector.
  7. Coronavirus Threat: The challenges now facing India's banking sector have reached another order of magnitude due to the coronavirus threat to the economy. Banking stocks have been among the hardest hit.
  8. Sharp Fall for BSE Bankex: The BSE Bankex has fallen about 46% so far this year, outpacing the 32% fall in the BSE Sensex. Shares of Axis Bank and IndusInd Bank have lost the most during this period.
  9. Relief Measures: Owing to all these shocks, banks have sought various relief measures. On 27 March 2020, the Reserve Bank of India (RBI) came out all guns blazing to arrest a potential slowdown caused by coronavirus (Covid-19). It did not just lower the cash reserve ratio (CRR) by 1% to 3% but also cut the repo rate by 0.75%. Also, there is a three-month moratorium on payment of loan installments.
  10. PSB Merger: Then came the major announcement effective from 1 April 2020. First announced in August 2019, the government's ambitious plan to merge 10 state-owned banks into four came into effect from 1 April 2020. The move, aimed at strengthening the banking system and creating more large institutions with size and scale, has seen...
    • Oriental Bank of Commerce and United Bank of India merged into Punjab National Bank,
    • Andhra Bank and Corporation Bank merged into Union Bank of India,
    • Allahabad Bank merged with Indian Bank, and
    • Syndicate Bank amalgamated into Canara Bank

So, that were some top pointers on what the Indian banking sector has been going through amid the coronavirus led stock market crash.

I reached out to Tanushree Banerjee, who is closely tracking the banking sector in the current scenario. Here's her view on the sector...

  • The Covid-19 lockdown has hit cash flows of both individual borrowers and corporates. This, in turn, will impact their loan repayment capability.

    The RBI's repo rate cut came as a temporary lifeline for Indian companies with debt on books. It will offer both companies and retail borrowers some breather. If banks use this phase judiciously, it may save the NPA ratios from worsening significantly.

    However, only the banks that have adequate capital and provisioning cushion may be able to tide over the economic crisis. Eventually, another round of consolidation in private sector banks, like the one after 2002, cannot be ruled out.

Tanushree's latest StockSelect recommendation is one such midcap bank.

You can read the entire report here (requires subscription).

Also, speaking of ongoing stock market crash, our special report, How to Trade the Coronavirus Crash, is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. You can claim your FREE copy here...

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This article (Indian Banking Sector Amid the Corona Crash - 10 Points to Know) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.


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India makes for a great safari destination, here are a few


Raorchestes charius, Coorg

Looking for new subjects to shoot? Try dropping to the ground. That's where you will find the best true-life models for macro photography, suggests wildlife photographer Dr Caesar Sengupta. "Macro photography, which is producing larger than life images of small objects, is oriented around reptiles, amphibians and insects. While some insects and amphibians can be found in our backyards, reptiles aren't that common in an urban set-up," says Dr Sengupta.

He says the best times to shoot are before, during and immediately after the monsoon. "That's the time reptiles and amphibians come out. India has two biological hotspots - the Western Ghats, and the sub and eastern Himalayan region," says the expert, adding that, the quality of output from a dedicated macro lens cannot be compared to that achieved with a regular lens. Here's your guide to clicking small wonders.


Insectivorous plant, Kaas plateau

The macro checklist
* Take care of your gear and yourself in the rains, where the forest floor can be treacherous. Carry high ankle shoes or
gumboots.
* Macro photography is mostly done in low-light conditions - in the evening or at night. You need to have an external flash; organisms won't be bothered by it as their retina is not the same as ours.
* There are no venomous frogs in India, but you need to be careful with insects as they may bite or cause allergies. Personal protection is always important when entering a jungle. For reptiles, you need to know your subject well. You must know the striking distance of the reptile. It helps to travel with a biological or field expert.


Saw scaled viper, Bhagwan Mahaveer Wildlife Sanctuary, Goa. Pics Courtesy/Dr Caesar Sengupta

Top spots for hot shots
* Agumbe Rainforest Research Station in Karnataka is famous for king cobras and other species of reptiles and frogs. While the cobras aren't easily sighted, you can get permission to be a part of a rescue operation when the reptile has strayed into human territory. Dandeli and Coorg in Karnataka are also great spots.
* Bhagwan Mahaveer Wildlife Sanctuary in Goa is famous for various snakes such as Indian rock python, Russell's viper, as well as butterflies.


Indian Violet Tarantula, Goa

* Matheran is great for spotting green vine snakes, bamboo pit vipers, tarantulas and frogs.
* Within Mumbai, head to Sanjay Gandhi National Park (including Yeoor in Thane) and Maharashtra Nature Park in Mahim. Phansad, Bhimashankar and Amboli are must-visits, too. From September to October, head to Kaas plateau in Maharashtra to photograph insects and flowers.
* Thar desert is home to the Keeled rock, Sind sand, Persian micro and other geckos.



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Indian-origin astronaut Shawna Pandya's shares her love for Mumbai and space


Shawna Pandya

While the world is already counting Dr Shawna Pandya in the league of Kalpana Chawla and Sunita Williams, the lady in question feels it's all "a bit premature".

Canadian scientist and astronaut, Dr Pandya, is known for her work as part of Citizen Science Astronaut (CSA) candidate with project PoSSUM (Polar Suborbital Science in the Upper Mesosphere) and PHEnOM (Physiology, Health and Environmental Observations and Microgravity) that she has been pursuing for two years now to understand several aspects of outer space, ranging from cloud formation to physiology and microgravity. She was one of the two candidates to be shortlisted from 3,200 people enrolled in the CSA programme.

While she has been working extensively in the field of outer space, and has in the past even worked with NASA, she clarifies that there has been "no announcement, flight assignment or selection of missions" [scheduled to take flight] yet. They will soon head off to a Mars simulation for two weeks though, that will help them prepare better for the mission, as and when it happens.

In a telephonic interview from Canada, where Dr Pandya is based, she tells us, "We are still developing our science and our mission. Our programme has done a phenomenal job of recruiting great candidates regardless of gender, ethnicity and country of origin. In fact, India has better representation in PoSSUM now. It is interesting that there is so much international representation in space programmes. It's not a competition to say, 'I will be the first such and such...' It's only about working with the passion and excitement."

Pandya is now part of a show on Sony BBC Earth titled Astronauts — Toughest Job In The Universe. Ask her what makes her job the toughest and she says, "I think everyone is serious and passionate about their job and consider it the toughest in the universe. This job, however, requires a tremendous amount of dedication and time. It's team-based and there is much risk involved. You cannot afford to let anyone down and that really raises the stakes."

Ever since she was a child, Pandya had been fascinated by space. "I remember when I was in grade seven, I'd read books on astronomy and the universe. I think that's where it all began for me," says the 33-year-old, who works as a general physician. When it comes to the areas that she has dabbled in, it's an extensive laundry list. From a black belt in Taekwondo to baseball, to motivational speaking, to walking the ramp and crooning as an opera singer, Pandya seems to have done it all. Ask her how does she pack in so much, and she says, "When I am asked this, I tell people, 'relax, I'm not doing all this in the same 24-hour period'. The trick is to prioritise what you do with your time, line up goals, set deadlines for yourself and act accordingly."

Pandya shares a deep connect with Mumbai and tries to visit the city once every five years. The last time she was here was last February. "I have most of my extended family here, my uncles, cousins and up until recently, my grandmother. There's no other city in the world like Mumbai, for me. There's so much going on here all the time but there's always something that comes out of the constant commotion. This city is always home away from home for me."

Also Read: Virender Sehwag Pays Heartwarming Tribute To Astronaut Kaplana Chawla

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India inches towards 60,000 COVID-19 cases

Total number of Covid-19 cases in the country mounted to 59,662 on Saturday, with 3,320 cases and 95 deaths reported in the last 24 hours, the Union Health Ministry said. Of the total, 39,834 are active cases, 17,846 people have recovered, and 1,981 people have succumbed to the disease. Maharashtra remained the worst hit state with a total number of cases rising to 19,063, followed by Gujarat which has reported 7,402 cases. Delhi has reported 6,318 cases and Tamil Nadu 6,009 cases, according to the Health Ministry data.

Maharashtra has also recorded 731 deaths so far, the highest number of casualties among all the states. Other states which have jumped the 3,000 mark are Madhya Pradesh (3,341), Rajasthan (3,579), Tamil Nadu (6,009) and Uttar Pradesh (3,214). Among other major cities, Andhra Pradesh has reported 1,887 and 41 deaths, Bihar stood at 571 cases and five deaths, Haryana at 647 and eight deaths, Jammu and Kashmir at 823 cases and nine deaths, Karnataka at 753 and 30 deaths and Kerala was docked at 503 and four deaths.

States which have reported less than 10 cases are -- Tripura, Mizoram, Puducherry, Manipur, Goa and Arunanchal Pradesh.

On the global front, the total number of cases are about to touch four million mark and over two lakh people have died due to coronavirus till now.

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India's COVID-19 tally at 56,342, 103 deaths in 24 hours

With a surge of 3,390 new cases and 103 new fatalities, the total tally of novel Coronavirus cases in India stood at 56,342 on Friday, the Union Health Ministry said. Of the total cases, 37,916 are active while 1,886 people have lost their lives. A total of 16,593 though have recovered as India undergoes the third-phase of the nation-wide lockdown. The total tally also includes 111 foreign nationals and one migrated patient, said the Health Ministry.

Maharashtra continues at the top of the tally with 17,974 cases and 694 fatalities, while 3,301 people were cured in the state. It is followed by Gujarat with 7,012 cases and 425 deaths and 1,709 recovered. There are at least 5,980 cases in the national capital with 1,931 recoveries and 66 deaths. Other states which saw an increased number of cases are Tamil Nadu (5,409), Rajasthan (3,427), Madhya Pradesh (3,252) and Uttar Pradesh (3,071).

States which have reported more than thousand cases are Andhra Pradesh (1,847), Punjab (1,644), West Bengal (1,548) and Telangana (1,123).

While Goa conyinues to be Corona-free, in the Northeast it is Tripura that surpassed Assam and now has 65 cases as Assam reported 54 cases. Other NE states that have reported COVID-19 cases are Meghalaya (12) Manipur (2), Mizoram (1) and Arunachal Pradesh (1).

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Indians arrive from Abu Dhabi, Dubai amid COVID-19

Late on Thursday evening, nearly 350 Keralites from Abu Dhabi and Dubai arrived at Kochi and Calicut International Airport, in the first batch of repatriated stranded Indians in UAE.

Three special Air India Express flights left for Abu Dhabi and Dubai to bring them back. "As per the state health department directives, all passengers will be screened and have to undergo compulsory quarantine / isolation for 14 days, a regular check up and a swab test. If someone has COVID-19 and shows symptoms within the first seven days, they will be shifted to the district (Ernakulam) Medical College for treatment. Those who show negative results will be allowed to go home, but must complete remaining seven days of quarantine at home and health officials will contact them regularly to check on symptoms," explained a senior health officer from State Health Ministry.

Hari Krishna Namboothiri, CEO, Department of Non-Resident Keralites Affairs, (NORKA) informed mid-day, "We are anticipating around 3,000 Indians to return to Kerala. Early Friday morning we are expecting another Air India Express flight to get around similar number of (177) passengers excluding crew to arrive from Riyadh to Calicut."

When asked about the three warships which have headed to the Maldives and Dubai, Hari Krishna said, "The Naval warship will leave from the Maldives by Friday and we are expecting them to reach Kochi within two days. We haven't got the entire list of passengers coming by ship, so far we have 500 peoples' names, and the number might go further up, which will be clear by Friday. Passengers repatriated through both the air and water ways mode of transport, will be quarantined and so far we have got around 4.50 lakh requests registered on our portal.

Dr Prasanna Kumari, Superintendent Aluva Government Hospital said, "We are a 227-bedded hospital but not a COVID-19 designated hospital. We have made arrangements for suspected cases, for which nine single bed isolation rooms are ready, also in case any of the suspects require hospital support, we will shift them to Ernakulam Medical College, which is a COVID-19 designated hospital in the district."

" We can easily arrange for 350 beds, and have 30 to 40 isolation rooms for suspected cases, and a similar number of beds in the ICU, with nearly 30 ventilator support facilities. Only those passengers who show COVID-19 symptoms will be transferred to our medical college for further line of treatment," said Dr Peter Vazhyail, medical superintendent at Ernakulam Medical College.

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India salutes Corona warriors on land, air and high seas

Indian Navy joined the entire nation to express gratitude and salute the Corona Warriors on Sunday May 3rd, 2020. Expressing gratitude and appreciation of the entire nation - while representing the Indian Armed Forces - towards the determination and committed efforts of our Corona Warriors - the medical professionals, health workers, policemen, government staff and media, for their relentless efforts against COVID-19 through a number of activities on ground, in air and on water.

On Land

Station Commanders & Senior Naval Officers across the three Commands (Western, Southern and Eastern Naval Commands) and in Andaman and Nicobar Command met the Health Care professionals, policemen, sanitation workers and other frontline Corona Warriors to convey the appreciation on behalf of the Indian Navy and applauded their efforts in successfully treating the COVID 19 patients and also thanked for their relentless efforts.

Human Word Chain: 1500 Indian Navy personnel at INS Hansa, Goa expressed their appreciation by forming a Human Word Chain and thank the Corona Warriors.

Naval Band: Earlier in the day, the SNC band played some famous numbers on a warship berthed opposite the Cochin Shipyard Limited (CSL) and near the Vikrant-Venduruthy Bridge, epochal landmarks of Kochi. Naval Bands also performed onboard Ex-Viraat in Mumbai and in Visakhapatnam Harbour.

Air

Kochi: As part of the Thanksgiving gesture, Chetak helicopter of the Navy showered flower petals on the District Hospital in Kochi. Subsequently, 07 aircraft flypast consisting of 02 Dornier aircraft, 01 SeaKing helicopter, 02 Advanced Light Helicopter (ALH) and 02 Chetak helicopters of Indian Navy was conducted over the city's renowned landmark, Marine Drive which was immediately followed by steampast by 07 Fast Interceptor Crafts of the Navy, in the channel, displaying a banner thanking the Corona Warriors.

Vizag: A Chetak helicopter from INS Dega showered flower petals over Andhra Medical College, Govt Hospital for Chest and Communicable Diseases (GHCCD) and GITAM Institute of Medical Sciences and Research (GIMSR).

Mumbai: Indian Navy Chetak helicopter carried out flypast with showering of petals over Kasturba Gandhi hospital and Asvini Naval hospital in Mumbai.

Goa: Indian Navy Chetak helicopter carried out flypast with showering of petals over Goa Medical College and E.S.I Hospital (along with ICG Helps).

Andaman & Nicobar Islands: Indian Naval aviation assets carried out fly past along with the Air Force and Coast Guard across various parts of Andaman and Nicobar Islands.

At Sea

Eastern Naval Command. INS Jalashwa and INS Savitri on their Mission Based Deployments saluted the Corona Warriors for their relentless fight against the COVID pandemic while at sea Western Naval Command.

Indian Navy personnel in Arabian Sea onboard Mission Deployed ships expressed their appreciation and thanked the Corona Warriors for their unwavering commitment in the fight against corona.

Indian Navy personnel onboard INS Vikramaditya off Karwar expressed their appreciation by forming a Human Word Chain in thanking the Corona Warriors.

Southern Naval Command. Steampast by 07 Fast Interceptor Crafts of the Navy, in the channel, in Kochi displaying a banner thanking the Corona Warriors.

Illumination of Ships at Anchorage

The day's events culminated with 25 Indian Naval warships across nine port cities including those in Andaman & Nicobar Islands carryied out illumination along with firing of flares and sounding of sirens from 7:30 PM onwards.

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India's COVID-19 count reaches 42,533; death toll at 1,373

India's count of COVID-19 cases has reached 42,533, including 1,373 deaths, according to the Ministry of Health and Family Welfare on Monday.

2,553 more coronavirus cases were reported and 72 people succumbed to the infection in the last 24 hours.

Currently, there are 29,453 active cases while 11,706 COVID-19 positive patients have been cured/discharged and one migrated.

Maharashtra has the highest number of cases with 12,974, followed by Gujarat with 5,428 cases and Delhi with 4,549 cases.

The country is under lockdown till May 17 to curb COVID-19 cases.

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India's COVID-19 mortality rate lowest in world, over 10,000 patients discharged, says Harsh Vardhan

Union Health and Family Welfare Minister Dr Harsh Vardhan on Sunday said that India's COVID-19 mortality rate of 3.2 per cent is the lowest in the world and over 10,000 coronavirus patients have been discharged from hospitals after recovering from the disease so far.

"Today more than 10,000 COVID-19 patients have been discharged. Those still admitted at hospitals are on the road to recovery. If in last 14 days doubling rate was 10.5 days, then today it is around 12 days," the Minister told ANI after visiting Lady Hardinge Hospital.

"Our mortality rate of 3.2 per cent is the lowest in the world," he said. With 2,644 more COVID-19 cases and 83 deaths in the last 24 hours, the number of people infected from coronavirus in the country has reached 39,980 including 1,301 deaths, said the Union Ministry of Health and Family Welfare on Sunday.

Currently, there are 28,046 active cases while 10,633 COVID-19 positive patients have been cured/discharged.

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India's COVID-19 tally reaches 39,980, death toll at 1,301

With 2,644 more COVID-19 cases and 83 deaths in the last 24 hours, the number of people infected from coronavirus in the country has reached 39,980 including 1,301 deaths, said the Union Ministry of Health and Family Welfare on Sunday.

Currently, there are 28,046 active cases while 10,633 COVID-19 positive patients have been cured/discharged. The coronavirus cases in Maharashtra have reached 12,296, including 2,000 discharged cases and 521 deaths.Gujarat is in second place with 5054 coronavirus cases. The state has reported 262 deaths, while 896 people have been discharged.Delhi's count stands at 4,122 of which 1,256 patients have recovered, while 64 patients have lost their lives.

While Tamil Nadu's COVID-19 figure stands at 2,757 with 1,341 patients recovered and 29 fatalities, Rajasthan has reported 2,770 cases of which 1,121 has recovered and 65 patients are dead.Madhya Pradesh has reported 2,846 positive cases so far of which 624 patients have recovered and 151 patients have lost their lives due to the virus. In Uttar Pradesh, as many as 2,487 people have confirmed COVID-19, of which 689 recovered and 43 people succumbed to it.

In Kerala, which reported the country's first COVID-19 case, 499 people have been detected positive for coronavirus.

The Centre on Friday extended the ongoing nationwide lockdown till May 17, while allowing different sets of relaxations in red, orange and green zones.

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